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GreenBox POS (NASDAQ: GBOX) announced a special dividend series for its common stockholders in connection with a planned spin-off of its stablecoin platform. Shareholders on record as of August 16, 2021, will receive a 0.35 share in the Coin Platform for every share of GBOX owned, with a second dividend of 0.20 shares to follow, contingent on achieving specific milestones. The record date for the second dividend will be announced later. This move aims to reward loyal investors and leverage GreenBox's growth potential in the financial technology sector.
GreenBox POS (NASDAQ: GBOX) has successfully completed its acquisition of ChargeSavvy LLC, enhancing its financial technology capabilities in retail payment processing. This acquisition is projected to contribute over $3 million in net income to Q3 2021 results and strengthen GreenBox's balance sheet. ChargeSavvy brings a robust merchant client portfolio and POS system with advanced fraud detection technology. This strategic move is aimed at realizing synergies, expanding client bases, and driving shareholder value amidst strong growth prospects.
GreenBox POS (NASDAQ: GBOX) has formed an exclusive partnership with Territorial Bank of American Samoa (TBAS) to deliver customized payment solutions throughout American Samoa. This collaboration will enable TBAS to offer state-of-the-art payment technologies, including merchant services, credit card processing, and a new card solution that reduces international fees and enhances security. The partnership aims to empower local businesses by enabling real-time payment capabilities, with contactless options available to comply with COVID-19 guidelines.
GreenBox POS (NASDAQ: GBOX) has announced the pilot launch of its stablecoin token, COYNI (CYN), aimed at enhancing digital payment solutions. The company invested $5 million in initial seed capital for this launch, set to facilitate rapid scaling of processing volume. COYNI will provide secure instant transactions while ensuring regulatory compliance and consumer protection. CEO Fredi Nisan highlighted that COYNI's launch is pivotal for expanding market share in the digital payment and money transfer sectors.
GreenBox POS (NASDAQ: GBOX), a financial technology company, has selected Armanino as its attestation provider for a new US Dollar collateralized stablecoin. Armanino, recognized for its expertise in blockchain attestation, will enhance trust and transparency in GreenBox's token infrastructure. The partnership aims to provide real-time reporting over stablecoin reserves, benefiting customers with faster transactions and increased auditability. GreenBox plans to deploy this technology internationally before the end of Q2 2021.
GreenBox POS (NASDAQ: GBOX) announced its inclusion in the Russell 3000 and Russell Microcap Indexes, effective June 28, 2021. This recognition underscores the company's rising profile in the capital markets as it prepares to launch smart contract token technology. Inclusion in these indexes enhances liquidity and increases exposure to institutional investors, with approximately $10.6 trillion in assets benchmarked against Russell indexes. This move is expected to support GreenBox's growth and strategic initiatives in the financial technology sector.
GreenBox POS (NASDAQ: GBOX) announced management's upcoming presentation at the LD Micro Invitational XI from June 8-10, 2021. Ben Errez, Chairman of GreenBox, will present on June 10 at 2:30 p.m. EDT. The event will be virtual and hosted on Track 3. Participants can access the presentation via a live audio webcast available through the provided link. GreenBox specializes in leveraging proprietary blockchain technology to deliver tailored payment solutions, enhancing transaction security and efficiency for global merchants.
GreenBox POS (NASDAQ: GBOX) announced a partnership with isMedia Co. Ltd to develop a blockchain-based NFT platform. This venture will combine GreenBox's payment solutions with isMedia's technology to facilitate virtual asset trading. The collaboration aims to leverage GreenBox's blockchain ecosystem, providing scalable solutions for the growing NFT market. Both companies are optimistic about their partnership, highlighting the potential for significant market impact through enhanced user experience and transaction efficiency.
GreenBox POS (NASDAQ: GBOX) announced the acquisition of Northeast Merchant Services for $2.5 million, with an additional $0.5 million earn-out based on revenue targets. This acquisition adds over 700 retail merchant accounts, enhancing GreenBox's payment solutions through a beneficial legacy contract with Merrick Bank and access to First Data's platform. CEO Fredi Nisan emphasized the importance of balancing lower-risk retail with higher-risk e-commerce accounts. The deal positions GreenBox for market expansion and robust portfolio management.
GreenBox POS (NASDAQ: GBOX) has received approval from Merrick Bank to operate its own Bank Identification Number (BIN), significantly enhancing its capacity to onboard lucrative ISO portfolios. This approval allows GreenBox to act with the responsibility of an acquiring bank while onboarding ISOs and agents under its BIN. The company will now manage KYC, underwriting, and risk monitoring for its clients, enabling the onboarding of more profitable merchant accounts. This development is expected to accelerate GreenBox's growth in the competitive fintech landscape.
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