Palm Beach, FL – December 2, 2021 – FinancialNewsMedia.com News Commentary – Leading crypto payments infrastructure provider, Moonpay just closed a $555 million Series A financing to rapidly accelerate its global footprint, invest in its world-class team, and underwrite an expanding number of innovations in the crypto economy. The funding, which has sent the crypto start-ups’ valuation to $3.4 billion marks yet another massive funding in the crypto space. Not only is funding in the space increasing, but crypto is also becoming more mainstream with institutional and even traditional investors embracing the potential of digital assets. As this happens, digital asset plays like Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B), SoFi Technologies Inc. (NASDAQ:SOFI), Coinbase (NASDAQ:COIN), Square Inc. (NYSE:SQ), and Mogo (TSX:MOGO) (NASDAQ:MOGO) stand out as valuable investment opportunities for those looking to gain exposure to the cryptocurrency market.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) signed an agreement with Wyre, which gives Mobilum access to the US market. Wyre, a fiat-to-crypto and payment infrastructure company provides easy-to-integrate APIS to help developers to make crypto more accessible.
Wyre’s blockchain-based solutions have been used across more than 100 countries globally. The company has on-ramped more than 15 million users and processed more than $10 billion in payments.
Through the agreement, Mobilum will integrate with Wyre’s automated clearing house (ACH) payment rails. Mobilum will process ACJ transactions through its on- and off-ramping platform.
In addition to collaborating with Wyre, Mobilum has upgraded its on-ramp payment processing platform. The company integrated its on-ramp solution with more than 200 acquirers and banking rules for improved fraud detection and high transaction approval rates.
Wojciech Kaszycki, President commented about the upgrade, “We are very excited about our latest platform upgrade. This will help us combat some of the largest issues facing crypto companies today. We will be able to significantly increase approval rates on transactions, prevent fraud and reduce chargebacks.”
Mobilum previously launched an updated Over-the-Counter (OTC) trading desk website designed for high net worth individuals who want to execute large volumes of Bitcoin or other cryptocurrency transactions with more than $50,000.
The OTC site includes features such as fast settlements, a variety of crypto assets, no deposit and withdrawal fees, competitive trading rights, and personalized services to provide customers with a seamless and secure high-volume trading experience. As of October 25, the OTC trading desk website had generated about C$20 million in transaction volume.
Companies Advance into Digital Finance and Cryptocurrency Innovations
SoFi Technologies Inc. (NASDAQ:SOFI) , a digital personal finance platform that allows users to borrow, spend, invest and protect their money, announced a Redemption Fair Market Value of its outstanding warrants. The Redemption Fair Market Value is $22.38. Holders of outstanding warrants who exercise their warrants on a cashless basis will receive 0.361 shares per warrant. The redemption period extends up to 5:00 p.m. New York City Time on December 6, 2021, after which any unexercised warrants will be void and no longer exercisable.
Coinbase (NASDAQ:COIN) had a strong Q3 2021 as highlighted in its shareholder letter. The company saw higher adoption and engagement with its product, not to mention significant innovation during the quarter. The company’s subscription revenue grew 41% sequentially to $143 million in Q3 2021, indicating the crypto is moving into the utility phase allowing users to gain yield on their holdings. The company also made significant developments in Q3 including the launch of Coinbase Prime to institutional investors. Coinbase also enhanced the security features on its platform to help users protect their crypto assets.
Square Inc. (NYSE:SQ) released a white paper for a decentralized bitcoin exchange that will allow users to trade bitcoin and fiat currencies. The company’s white paper on tbDEX highlights the exchange as a protocol aiming to create ubiquitous and accessible on- and off-ramps to allow individuals to benefit from crypto innovations. The company published the whitepaper on GitHub to allow developers to contribute to the decentralized exchange. The project is led by Mike Brock.
Mogo (TSX:MOGO) (NASDAQ:MOGO) expanded its portfolio of strategic investment with the minority investment in Gemini’s US$400 million financing. The company has also invested in Coinsquare, Tetra Trust, Enthusiast Gaming, Eleven Gaming, and Tiidal Gaming, bringing its total investments to $193 million in Q3 2021. In addition to expanding its investments, the company has achieved significant highlights as indicated in its Q3 2021 financial results where the company’s user base grew to about 1.8 million. Revenues for the company also accelerated to 58% year over year.
As the popularity of digital assets and cryptocurrencies increases, companies like Mobilum are uniquely positioned to benefit from the market, through the solutions they provide users. These solutions provide a seamless experience for users to trade, exchange, or earn value from their digital assets.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Mobilum Technologies Inc. by a non affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757
The post Leading Crypto Payments Infrastructure Provider, MoonPay, Closes $555 Million Funding appeared first on Financial News Media.