- TechX is in the process of obtaining a fiat-to-crypto gateway.
- Per day Mobilum processes up to $250,000 CAD
- TechX is paying $16 million CAD, for acquiring Mobilum.
A publicly-traded company out of Vancouver, Canada, is TechX Technologies Inc. TechX is in the process of obtaining a fiat-to-crypto gateway.
Although, buying cryptocurrency with fiat money known as Fiat to crypto. Fiat currency is an official national currency issued by governments. Some of the fiat currencies are US Dollar, Canadian Dollar, Japanese Yen, etc. Even more, a few years ago, many trading platforms only allowed you to trade crypto for crypto.
Henceforth, a licensed fiat-to-crypto gateway for exchanges, wallets, liquidity providers, and brokers is, Mobilum. Notably, the acquisition target by TechX is Mobilum. Per day Mobilum processes up to CAD 250,000 approximately is equal to $206,000 at current exchange rates.
TechX is paying 16 million Canadian Dollars (CAD), or $13.2 million for acquiring Mobilum. CEO of TechX, Peter Green says,
“The rise in decentralized finance application is growing rapidly and we expect to soon be a key player in this ever-growing market”
Moreover, one of the popular trends in the cryptocurrency market, Decentralized Finance (DeFi). Notably, the total value locked into the ecosystem exceeding $121 billion.
Furthermore, the tactical strategy by TechX in acquiring fintech companies’ inn joining of cryptocurrency, artificial intelligence, and cloud computing. Additionally, for the newly acquired Mobilum, the TechX index includes several companies like Catalyx Exchange and Altsignals.
Hence more, the CEO of Mobilum Wojtek Kaszycki, said, “the recent market correction has allowed his firm to increase its processing volume because investors want to get in on the price dips”. Moreover ten days, the cryptocurrency market smashed by $1 trillion.
Reforming the payment options for digital currency by enabling currency owners to spend their belongings immediately and in real-time. For digital currency owners the ability to utilize their assets anywhere at any time, using any payment card, is facilitated by Mobilum
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