ALT5 Sigma Reports 104% Year-Over-Year Increase in Transaction Volume to Over US$1.250 Billion for First Eight Months of 2024

Rhea-AI Summary

ALT5 Sigma (NASDAQ:ALTS), a fintech company specializing in blockchain-powered technologies for digital asset management, has reported impressive growth in its transaction volume. For August 2024, the company's transaction volume reached US$192 million, marking a 120% year-over-year increase from August 2023's $87 million. The year-to-date transaction volume for the first eight months of 2024 stands at US$1.250 billion, representing a 104% year-over-year increase. This substantial growth demonstrates ALT5's strong performance in the digital asset space and its ability to capitalize on the increasing demand for blockchain-based financial solutions.

Positive

• Transaction volume for August 2024 reached US$192 million, a 120% year-over-year increase
• Year-to-date transaction volume for 2024 (first eight months) hit US$1.250 billion
• 104% year-over-year increase in transaction volume for the first eight months of 2024

Negative

• None.

Financial Analyst

ALT5 Sigma's impressive 104% YoY increase in transaction volume to $1.250 billion for the first eight months of 2024 signals robust growth in their digital asset services. The 120% YoY jump in August's volume to $192 million indicates accelerating momentum. This growth trajectory suggests increasing adoption of ALT5's blockchain-powered solutions for tokenization, trading and asset management. However, it's important to note that transaction volume doesn't directly translate to revenue or profitability. Investors should look for upcoming financial reports to assess how this volume growth impacts the bottom line and if the company can maintain this pace while managing operational costs effectively.

Tech Expert

ALT5 Sigma's substantial transaction volume growth reflects the increasing mainstream adoption of blockchain technologies in financial services. Their comprehensive suite, covering tokenization to safe-keeping, positions them well in the evolving digital asset landscape. The consistent triple-digit growth suggests strong market demand for their solutions. However, in this rapidly evolving sector, maintaining technological edge is crucial. Investors should monitor ALT5's R&D investments and new feature rollouts to ensure they stay ahead of competitors. Additionally, regulatory developments in the crypto space could significantly impact future growth, making it essential to watch for any regulatory changes that could affect ALT5's operations or market potential.

LAS VEGAS, NV / ACCESSWIRE / September 10, 2024 / ALT5 Sigma Corporation (NASDAQ:ALTS), a fintech, providing next generation blockchain-powered technologies for tokenization, trading, clearing, settlement, payment, and safe-keeping of digital assets, released its transaction volume for August 2024.

According to the company, ALT5's transaction volume exceeded US$192 million for the month of August 2024, which represents a year-over-year increase of 120% from the $87 million recorded in August 2023. ALT5's year-to-date transaction volume is $1.250 billion, which represents a year-over-year increase of 104%.

Vay Tham, CRO of ALT5 Sigma Corporation, exclaimed, "We're thrilled with the performance as we continue the momentum through Q3 and look to finish strong through the month of September!"

About ALT5 Sigma

The Company is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. The Company is one of the constituents of the Russell Microcap Index, as of June 28, 2024.

Launched in 2018, ALT5 Sigma Inc. (a wholly-owned subsidiary of ALT5 Sigma Corporation) is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5 Sigma Inc., through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". ALT5 Sigma Inc. processed over US$1.2 billion in cryptocurrency transactions in 2023.

ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency (s) automatically or to receive their payment in digital assets.

ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named "ALT5 Pro" that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers.

Through its biotech activities, the Company is developing innovative, actionable solutions intended to help end the opioid crisis. The Company is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation's history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

Forward Looking Statements

This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the profitability and prospective growth of ALT5's platforms and business, that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5's services, and technology challenges for future growth or expansion. This press release also contains statements and links relating to risks that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as "continue", "expect", "intend", "will", "hope", "should", "would", "may", "potential", and other similar expressions. Such statements reflect the Company's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in the Company's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Media Contact Investor Relations

IR@alt5sigma.com
1-800-400-2247

Contact Information

Investor Relations
Investor Relations
ir@alt5sigma.com
1-800-400-2247

SOURCE: ALT5 Sigma Corp

View the original press release on accesswire.com

FAQ

What was ALT5 Sigma's (ALTS) transaction volume for August 2024?

ALT5 Sigma's transaction volume for August 2024 exceeded US$192 million.

How much did ALT5 Sigma's (ALTS) transaction volume increase year-over-year in August 2024?

ALT5 Sigma's transaction volume increased by 120% year-over-year in August 2024 compared to August 2023.

What is ALT5 Sigma's (ALTS) year-to-date transaction volume for the first eight months of 2024?

ALT5 Sigma's year-to-date transaction volume for the first eight months of 2024 is US$1.250 billion.

What is the year-over-year increase in ALT5 Sigma's (ALTS) transaction volume for the first eight months of 2024?

ALT5 Sigma reported a 104% year-over-year increase in transaction volume for the first eight months of 2024.