On Ramping More Users to Buy Crypto Is Creating a Multi-Billion Dollar DeFi Economy
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) Has Been On an M&A Tear and Is Positioned To Become a Leader With a Multitude of New Product Offerings
Everyone’s looking for the next Fintech unicorn. Riot Blockchain has gone from US$1.16 on March 6, 2020 to a high of US$79.50 on February 17, 2021. That’s an incredible 6,753% return in less than a year alone – 415 times the S&P 500’s return.
That’s why investors and users have been pouring money into the red hot cryptocurrency sector.
The rise in decentralized finance (DeFi) applications is also growing rapidly and the latest company to hit it big is Voyager Digital Ltd. with its market cap currently sitting at C$2.86B and C$4B in assets under management. Voyager’s growth has been incredible seeing it’s stock rise from C$0.28 to C$37.95 in the past year and completing a US$100M financing.
Take a look at their growth on the right.
There’s no other way to put it…
Let’s face it, traditional banks are limiting. And especially during CV19, who’s even going to the bank anymore?
Holding digital assets unlock an opportunity that our parents and grandparents did not get a chance witness.
Investors are always looking for the next Riot or Voyager Digital, but the ship has sailed to make ten bagger profits with those companies, but there’s a newcomer that has been making waves and it could potentially dominate the cryptocurrency industry and its market cap is still only US$39.8 million.
- 100% of the assets of 3030
- 19% of Catalyx Exchange
- 100% of the assets of Cryptobuddy.ai (now altsignals.com)
- 100% of Xport Digital
- 100% of Mobilum OU
After consolidating its shares on a two-and-one-half basis on February 1st, TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) had strong momentum. In early April, the stock really began to heat up, hitting a high of C$1.68 on April 14. The stock’s cooled down slightly but it looks like it’s consolidating around C$0.65. Now armed with a war chest of cash in the bank, TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) looks to utilize the funds to fund its user acquisition strategies and for added liquidity for its newly acquired on-ramping business.
TechX Is On Its Way To Becoming a Leader In Fiat-to-Crypto Credit Card Processing
As cryptocurrencies continue to move to the forefront of the financial system, ease of access has become a paramount priority for companies in the sector and customers alike. The critical first step of converting fiat currency into crypto is the beginning of a potentially exciting journey for someone expanding their crypto holdings or making their first investment. With multinational financial services like Visa and Mastercard processing these transactions in partnership with on-ramp processors, the process is easier than ever. Not only has this made customers’ crypto experience smoother, but it has accelerated the adoption of crypto and broadened the market.
In late March, Visa announced that it would begin accepting payments in the cryptocurrency USD Coin directly. Visa’s press release came on the heels of Mastercard’s recent announcement that it would soon begin facilitating crypto transactions. Since Visa and Mastercard started to support cryptocurrencies, it created a surge in M&A activity in the on-ramp space.
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) has been very active with its M&A activities acquiring fiat-to-crypto gateway Xport Digital for C$5 million on May 3rd. The Company also announced a definitive agreement to acquire Mobilum, a financial technology payment processing technology start-up located in Estonia, for C$16 million.
Mobilum’s simple-to-use on-ramp solution makes integration easy for businesses whose users buy and sell cryptocurrencies with Visa and Mastercard credit and debit cards. Mobilum guarantees zero chargebacks, has the highest acceptance rates, and the lowest transaction fees in the industry at 2.99%.
At present, Mobilum’s daily processing volume ranges from C$100,000 to C$250,000 in transactions for cryptocurrency exchanges that include KuCoin, the sixth largest cryptocurrency exchange in the world accessible to over 8 million global users.
The problem for Mobilum isn’t about how they are planning on getting more business. The problem is they need more funds to purchase cryptocurrency after the users buy them on the exchange like KuCoin. It takes the Visa and Mastercard acquirers up to four days to pay Mobilum. We can expect the transaction volume to grow in the millions immediately after the transaction is closed.
“With very few exchanges offering credit card processing, we’ve seen an exponential increase in demand from exchanges and cryptocurrency businesses to utilize our on-ramp solution,” said Wojtek Kaszycki, CEO, Mobilum. “By merging with TechX, Mobilum will be able to increase its liquidity, giving us the ability to process millions of dollars in transactions per month.”
With the acquisition of Mobilum, TechX will make the use of its new fiat-to-crypto on-ramp gateway to exchanges and its own uBUCK wallet which will allow users to purchase up to 230+ cryptocurrencies with a Visa or Mastercard credit card or debit card.
8 Reasons Why the uBUCK DEFI Wallet Will Blow The Competition Away
- Stake and earn interest of up to 16% APY on select cryptocurrencies
- Swap multiple cryptocurrencies with lower fees than Ethereum-based protocols but continue to have the ability to swap Ethereum-based tokens
- Farm DeFi tokens and earn high interest yields
- Buy and sell over 237 cryptocurrencies
- On and off ramp with credit cards, electronic transfer funds, and wire transfers
- AI-based crypto trading signals
- Support for 82 fiat currencies
As the use of digital wallets and electronic payment methods continues to soar, TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) will be finally debuting its digital wallet in late Q2 or early Q3 of this year and is being deemed as the first serious threat to traditional banks.
Up until now, before DeFi, no platform has been able to mount a real challenge to traditional banks. Cash apps in the United States have seen a surge in usage since the CV19 crisis has started. Payment apps like Zellepay and Venmo have seen a surge in users and activity, according to app analytics firm Apptopia.
But, what’s buzzing and growing even faster than payment apps is the surge in users moving their wealth into wallets paying high interest reward yields using DeFi. According to Statista, there are now 68.24 million global blockchain wallets in circulation, a 47.5% increase from a year earlier.
The reason behind this surge is completely clear.
Why would anyone want to keep their money in a bank account to earn 0.05% to 0.50% per year when DeFi interest bearing accounts are paying between 2.35% to 12.50% on USDC, a stablecoin backed by the US Dollar.
According to Voyager’s press release on May 3rd, the company has US$3.3 billion in assets under management and 270,000 depositing users with 1 million downloads. That’s an average of $12,000 per depositing user and they did this all within the last eight months!
Now you’re probably wondering and asking this question, “what the heck is DeFi?”
In its simplest form, decentralized finance (DeFi) is a system by which financial products become available on a public decentralized blockchain network, making them open to anyone to use, rather than going through middlemen like banks or brokerages. Unlike a bank or brokerage account, a government-issued ID, Social Security number, or proof of address are not necessary to use DeFi. More specifically, DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman rather than a company or institution facilitating a transaction.
Think of a financial system where the role of the banks and other financial institutions are completely replaced by “smart contracts” hosted on the blockchain.
With full transparency, global access, and zero censorship!
The total value locked in DeFi peaked at almost $90 billion just before the recent crash. It’s still sitting at $60 billion which is still phenomenal growth considering that value on May 25, 2020 at $949.70 million. A 6217% increase!
What’s got people excited are the returns, even with stablecoins, the returns are between 2.35% and 12.50%. That’s significantly better than the 0.05% BMO is currently paying for example.
TechX Is Positioned To Be a Market Leader In Payment Processing and Digital Wallets
The cryptocurrency payments and digital wallet competitors in the space have lofty valuations and we believe that TechX Technologies Inc.’s (CSE:TECX) (OTC:TECXF) price has fallen to a level where it is truly a bargain among its peers. It’s the only company in the list below with a product line that includes payment processing, a digital wallet with interest rewards using DeFi protocols, the ability to swap various cryptocurrencies, AI based trading signals and crypto-to-fiat off ramp capabilities.
TechX has the potential to absolutely dominate thanks to its unique offerings and On-ramp business. It’s the main reason why it can pay out up to 16% on USDC (3.5% higher than the next best competitor).
|Company Name||Ticker Symbol||Mkt Cap (USD)||Price (USD)|
|TechX Technologies Inc.||OTC:TECXF, CSE:TECX||$40 million||$0.56|
|Banxa||TSXV: BNXA OTCQX: BNXAF||$137 million||$3.46|
|*updated on May 24, 2021 stockwatch.com|
At present, there are only a handful of companies in the world that offer an on-ramp product and only three of those are publicly traded (including TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) in Canada. Banxa Holdings is currently trading at US$3.46 per share on the CSE and Nuvei, which just acquired Simplex for US$250 million in early May is a multi-billion dollar company.
If you look at this company’s strategic acquisitions, it’s plenty clear the market is hungry for these types of stocks.
Banxa began trading in January on the TSX Venture with a market cap of C$50 million. Two months later, the company listed on the OTC and its stock price skyrocketed from C$2.49 to a high of C$8.30.
TechX’s Secret Weapon – Catalyx.io. Canada’s Safest and Most Trusted Exchange in Canada
On February 16, 2021, TechX announced a strategic investment by buying 19% of Catalyx.io, Canada’s premier cryptocurrency exchange. Why is this important? The exchange will give the uBUCK wallet the liquidity and the confidence that investors need to ensure that they get the best price for buying, selling and swapping cryptocurrencies and that their funds are safe with a reputable partner custodian.
Catalyx.io is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. Catalyx has developed a scalable and modularized platform with a trading engine that can scale to millions of users in real time and cutting-edge cyber security system CyberSmoat®, which is patent pending.
Features of the Catalyx platform include:
- Fully featured exchange order book
- $0 deposit fees and immediate funding (post-KYC)
- 0.15% trading fees
- Tightest buy and sell spreads in Canada under 0.1%
- Lowest rates to buy BTC in Canada
Catalyx launched one of Canada’s first Canadian dollar backed stablecoins called CADX. In April, Catalyx announced that CADx will become the First Canadian Stablecoin to be listed on a major exchange, Bittrex Global. Bittrex is currently ranked in the top 10 for all crypto exchanges.
TechX Technologies Inc.’s (CSE:TECX) (OTC:TECXF) equity investment has proven to be an early success. Catalyx achieved significant growth in trading volume, daily users, deposits and revenue in the first three months of 2021.
Here are the key metrics from Q1 2021:
- Trading volume increased 1,542% Quarter-over-quarter (QoQ) from C$2.88 million in Q4 2020 to C$47.3 million in Q1 2021.
- Number of transactions increased 3,642% QoQ from 1,191 transactions in Q4 2020 to 44,583 in Q1 2021.
- Deposits increased by 1,050% QoQ from C$1.2 million to C$13.8 million .
- Revenue increased by 545% QoQ from C$82,172.97 to C$529,725.03
Numbers like these have investors extremely excited, especially if you consider that all of these numbers are from organic traffic, not paid media.
Managed by Skilled Veterans of the Industry
Peter Green – Director, Chairman and Chief Executive Officer
The hallmark of Peter’s career in over 25 years within the international ICT marketplace is building high performance teams. Led the transition of the UK and Ireland business at Cable and Wireless. Initiated and led the largest contract in TELUS history (1B over 10-year contract BC Government. Peter transformed TELUS Small and Medium Business from declining to $100M growth in 2 years.
James Youn – Chief Executive Officer of uBUCK
James Youn brings over 10 years of capital markets and finance experience. Youn started on the sell side with TD Asset Management and RBC Capital Markets, before moving to the buy-side where he became an expert in alternative investments. He has shared his knowledge throughout the sector, having been published in numerous periodicals, including the Institutional Investor’s “Journal of Alternative Investments”.
Mike Devine – Independent Director
Mr. Devine has over 20 years of executive technology experience in sales, marketing, and operations. Most recently, he founded Jet Digital, a technology company focused on the high-speed movement of data to enable content creators and collaborators, the ever-increasing remote workforce, and organizations looking to transform their business by moving to the cloud. Previously, he was a strategic leader at various companies, including 10 years with Squirrel Systems a global hospitality technology innovator, and 9 years with Navigata Communications an enterprise telecommunications provider.
Aleem Nathwani – Independent Director
Mr. Nathwani has over sixteen years of experience working with and advising start-ups, from inception through to acquisition or public offering. He was one of the earliest team members at Nutanix (NASDAQ: NTNX, $4B+ MCAP), pioneers in the hybrid-cloud space, where he played key roles in driving business development. He held strategic leadership roles within TELUS Communications, incubating technology infrastructure and outsourcing deals for large enterprise customers, helping grow their portfolio to $100M+.
Michael Vogel – Independent Director
Michael Vogel is a well-known leader and pioneer in the Bitcoin world. He founded Netcoins in 2014, rapidly scaled the company as CEO & CTO to thousands of customers and millions in revenue, before leading the company to public listing in 2018 – notably the first crypto company of its type to be publicly listed. Netcoins, which was acquired by BIGG Digital Assets Inc. in 2018, is now one of the largest and longest operating Bitcoin exchanges in Canada. Michael is also the CEO of Coinstream, a Bitcoin company aimed at the US market, as well as founder and CEO of Encore Ventures.
Dominic Vogel – Advisor
As Founder & Chief Strategist at CyberSC, Dominic Vogel holds a proven track record within cybersecurity across a multitude of industries (financial services, logistics, transportation, healthcare, government, telecommunications, and critical infrastructure). Dominic actively participates in the Vancouver security community and is a well-respected cybersecurity expert for appearing on media news outlets across North America and Internationally on BBC World News. Dominic is highly regarded as a cybersecurity thought leader and was recently appointed to the BC Provincial Cyber Security Advisory Committee.
Wojtek Kaszycki – Mobilum CEO
A pioneer in the area of Ecommerce and Mcommerce solutions, Kaszycki has over 24 years of experience creating and managing innovative technologies. From the beginning of his professional career, he has engaged in the implementation of innovations that change everyday life. Between 1996 and 2001, Kaszycki managed the first Ecommerce agency in Poland, AGS NewMedia, created the first Ecommerce portal in Poland Empik.com (Polish Amazon). Kaszycki is also the Founder and Chairman of BTC Studios, a publicly traded video gaming company on the Warsaw stock exchange.
Aaron Carter – XPort Digital CEO
Mr. Carter has an extensive background in the financial industry and has worked with various fortune 500 companies in investment banking, online brokerage, market data and a prominent US equity exchange. At AlphaPoint, Mr. Carter played a pivotal role in building their whitelist exchange platform and developed a cohesive customer onboarding process that allowed sales to optimize their deal flow and exceed their target goals. At BATS Global Markets (formerly known as Direct Edge), Mr. Carter developed the exchange’s surveillance and optimization programs which decreased latency and increased their daily trading volume market share while ensuring SEC regulations were adhered to.
Jae Park – Strategic Advisor
Jae Park is the CEO of Catalx Exchange, Canada’s premier cryptocurrency exchange. Jae is also the CEO for Innofoods, a global confectionery producer and distributor that generates $230+ million USD per annum and is Costco’s largest organic snack food supplier in the world. Jae also has successfully launched Innolifecare, the first blockchain-backed N95 masks approved by Health Canada. The platform traces where every piece of material was sourced from via a QR code.
7 Reasons why investors should take a deeper look into TechX Technologies Inc. (CSE:TECX) (OTC:TECXF)
- Fiat-to-crypto payment processing on-ramp gateway
With the lowest fees in the industry, getting business isn’t the challenge. Now with the acquisition and additional funding to obtain more liquidity, the processing volume is expected to grow to the tens of millions of dollars per month.
- Most complete digital wallet with interest bearing accounts using DeFi staking protocols
Users can stake and earn interest of up to 16% APY on select cryptocurrencies.
- Strategic Investment in Catalyx.io
Catalyx offers an exchange with a full order book and has been growing at a rapid pace. The exchange offers the lowest prices in Canada, the tightest spreads and fees as low as 0.15%. Trading volume has increased by 1542% from Q4 of 2020 to Q1 of 2021.
- Swap multiple cryptocurrencies with lower fees than Ethereum-based protocols but continue to have the ability to swap Ethereum-based tokens
The uBUCK digital wallet uses the Binancechain to reduce the blockchain transaction fees to pennies rather than its current price of $143+ per transaction.
- AI-based crypto trading signals
With the acquisition of the technology from Cryptobuddy, the AI based trading signals will be integrated into the wallet and a separate website will be built called altsignals.com and users will get a free trial and have the ability to subscribe to a monthly subscription service.
- Top notch management team and directors
With the addition of Mike and Dominic Vogel, Aaron Carter, Jae Park and Wojtek Kaszycki it gives TechX a strong core team of experienced individuals in the blockchain industry.
- Hot sector for M&A activities
With Nuvei’s recent acquisition of Simplex for US$250 million, and the valuations of digital wallets Mogo and Voyager Digital skyrocketing, the space is ripe for more M&A opportunities.
- https://www.cnbc.com/2020/12/31/here-are-the-top-performing-stocks-in-the-sp-500-for-2020.html ↑
- https://blog.apptopia.com/digital-remittances-accelerated-sharp-uptick-new-users ↑
- https://defirate.com/usdc/ ↑
- https://defipulse.com/ ↑
- https://tech-x.io/catalyxs-cadx-is-first-canadian-stablecoin-to-be-listed-on-bittrex-global/ ↑
- https://tech-x.io/catalyx-achieved-a-1542-quarter-over-quarter-increase-in-trading-volume/ ↑