Public Company TechX Technologies Is Making Significant Acquisitions in the Crypto Industry – #stocks chatter

May 27, 2021

449

Public Company TechX Technologies Is Making Significant Acquisitions in the Crypto Industry
CSE: TECX
OTC: TECXF
FRA: C0B1

Since Visa and Mastercard started to support cryptocurrencies, it created a surge in M&A activity in the on-ramp space.

Perhaps, the most active company has been TechX Technologies Inc., a publicly traded company listed on the Canadian Securities Exchange. TechX acquired fiat-to-crypto gateway Xport Digital for C$5 million on May 3rd. On May 24th, the Company just announced the signing of a definitive agreement to acquire Mobilum, a fintech company with fiat-to-crypto payment processing technology and a digital wallet, for C$16 million.

At present, Mobilum’s daily processing volume ranges from C$100,000 to C$250,000 in transactions for cryptocurrency exchanges that include [KuCoin](https://www.kucoin.com/assets/payments?lang=en_US), the sixth largest cryptocurrency exchange in the world. Supporting over 200 cryptocurrencies and 80+ fiat currencies, Mobilum’s payment gateway services are accessible to over 8 million global users.

Going forward, with bitcoin and crypto now turning the heads of financial institutions and banks, it’s likely that 2021 (and beyond) will bring a greater number of ‘traditional’ finance companies buying up firms within crypto. Furthermore, we are likely to see an increase in crypto firms acquiring companies outside of the sector.

“*TechX is very excited about acquiring Mobilum’s innovative technology, which is creating a bridge between fiat and crypto space to speed up cryptocurrency mass adoption worldwide*,” said TechX CEO Peter Green.

No long or short term debt on the books. YTD from 0.11 to current 0.82. Reached a 52-week high of 1.68, recent dip is due to crypto scare all over the entire industry. It will recover for sure and TechX will be prepared to move higher with all the new releases and acquisitions.

Find one of the releases here at: