The FinTech and Cryptocurrency Marriage; How Companies are Capitalizing on the Digital Currency Revolution
Companies Mentioned: Longfin Corp. (NASDAQ: $LFIN), Glance Technologies (CSE: $GET.C; OTCQB: $GLNNF), Spindle, Inc. (OTCQB: $SPDL), NetCents Technology Inc. (CSE: $NC.C / Frankfurt: 26N)
Point Roberts, WA - December 21, 2017 (Investorideas.com Newswire) Investorideas.com, a leader in Blockchain content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com reports on recent developments in fintech and cryptocurrency.
According to CoinMarketcap.com the value of cryptocurrencies as of December 20th was $611,496,367,369 measuring 1368 cryptocurrencies. With comments from Bloomberg like "Fintech plus cryptocurrency equals about $7 billion" regarding the recent rise of Longfin Corp. (NASDAQ: LFIN ), investors are on the hunt for what's next in the sector.
Fintech company Longfin Corp.'s (NASDAQ: LFIN) stock saw a 2700% increase following news of the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins.
From the press release: Ziddu Coin is a smart contract that enables SME's, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Ziddu Coins are loosely pegged to Ethereum and Bitcoin. The importers/exporters convert offered Ziddu coins into Ethereum or Bitcoin and use the proceeds for their working capital needs. At the end of the contract, importers/exporters will realize their proceeds and pay back their funds through cryptocurrencies only. Depending upon the risk profile of the counterparty, the interest will vary from 12% to 48%.
"The advent of Blockchain technology has caught the imagination of the global financial services industry; blockchain is emerging as a technological revolution that is set to disrupt the financial services infrastructure. Cryptocurrencies such as Bitcoin and Ethereum will act as a global financing currency to avail credit against hard currencies of many emerging markets." Says Venkat Meenavalli, Chairman of Longfin Corp.
Longfin is a US-based, global FinTech company powered by Artificial Intelligence (AI) and Machine Learning. The company, through its wholly-owned subsidiary, Stampede Tradex Pte. Ltd, delivers foreign exchange and finance solutions to importers/exporters and SMEs. Longfin also provides cryptocurrency-based financial service for importers/exporters with Ziddu coins from its blockchain-empowered subsidiary Ziddu.com. Currently, Longfin has operations in London, Singapore, Dubai, New York, Miami and India.
In October Spindle, Inc. (OTCQB: SPDL), a provider of unified commerce solutions reported that it has entered into a binding letter of intent to acquire all of the shares of a privately held and profitable payments processing company. According to the 8K filed, Spindle will acquire 100% of the ownership in VyaPay, LLC (https://www.vyapay.com/). According to the filings the term sheet expires December 31, 2017. If completed, it will give Spindle entry into the crypto space according to a merchant processing site http://1f16.com/merchant-processing.
"VyaPay is the leader in the "New Age". Whether you are aware of Crypto-Currencies or not, VyaPay is already the solution in taking and receiving today's leading Crypto-Currencies. As the World is changing, so is the "Money" being used. You want to be with a progressive leader in solving all of your Merchant Processing needs. Do not lose business by being "Un-Accommodating" to all forms of Cash. "
One small fintech company has made its way to Davos as it focuses on the crypto/blockchain sector. On December 12th Glance Technologies Inc.(CSE:GET.CN)(OTCQB:GLNNF) announced that it will be attending and speaking on a panel at the inaugural Blockchain Davos event to be held in Davos, Switzerland - January 23 - 26, 2018. Glance will also be a sponsor of the event.
From the Press release: Each year in January, the top global leaders gather in Davos from every country and sector to collaborate on developing shared initiatives to improve the condition of our world. Led by 2017's blockchain boom and the "Fourth Industrial Revolution", Blockchain Davos is a gathering to build partnerships for a decentralized future. Blockchain Davos is an exclusive invite only conference for attendees. The event is timed to coincide with the annual World Economic Forum, which is also being held in Davos.
Glance is attending the event to raise awareness of its upcoming cryptocurrency and to make further inroads into the worldwide cryptocurrency and blockchain community. Glance's planned cryptocurrency is a rewards based token that will be granted as rewards to users of the Glance Pay mobile payment app every time they spend on the Glance Pay mobile payment network, whether they have paid with the new cryptocurrency or via other payment methods. This strategy is intended to support rapid adoption of the cryptocurrency to a broad range of consumers, although the app will also be marketed to crypto users in leading urban centers. Glance also intends to apply elements of its anti-fraud technology to this cryptocurrency to reduce the risk associated with converting traditional currencies to and from cryptocurrencies.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants
NetCents Technology Inc (CSE: NC / Frankfurt: 26N) just announced on December 14th the development and imminent launch of a proprietary cryptocurrency platform to round out the NC Exchange. Yesterday, NetCents paused the ability of users to purchase Bitcoin and Ethereum via the NC Exchange due to processing delays with the Company's exchange partners.
Coinciding with the updated exchange functionality, the Company will be launching a new, updated website. The new website, eWallet, and NC Exchange will focus on improving site usability and flow, thus streamlining the process for site users.
NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments.
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