ALT5 SIGMA, A JANONE COMPANY, ADDS PREPAID VISA®️ CARD INTEGRATION TO ALT5 SETTLEMENT PLATFORM
JanOne's subsidiary, ALT5 Sigma, has launched a prepaid VISA®️ Card as part of its ALT5 Settlement Platform to bridge traditional financial systems with the digital crypto realm. This card allows institutions and merchants to convert crypto to fiat seamlessly, providing instant access to funds via a physical or digital prepaid VISA®️ Card. This move aims to offer customers more efficient ways to access and spend fiat currency derived from their crypto activities. The card is available for multi-currency use, converting funds 24/7, enhancing the versatility and flexibility of their financial operations.
- ALT5 Sigma's prepaid VISA®️ Card enables seamless crypto-to-fiat conversion.
- The service offers 24/7 access to funds, enhancing financial flexibility.
- Institutions and merchants can utilize both physical and digital prepaid VISA®️ Cards.
- The integration supports multi-currency transactions, broadening customer options.
- None.
Insights
Adding the prepaid Visa card integration to ALT5 Sigma's Settlement Platform signifies a strategic move to streamline the conversion of cryptocurrency to fiat currency. For investors, this could mean enhanced liquidity and user convenience, which are important for widespread adoption. The role of the prepaid card in instantaneous access to funds is likely to attract both individual and institutional users who need quick, efficient access to their converted fiat currency.
In the short-term, this could lead to increased user engagement and a potential rise in transaction volumes. This integration may also reflect positively on JanOne Inc.'s revenue from fees associated with card usage. In the long-term, the convenience of an integrated crypto-to-fiat conversion process can enhance the competitiveness of ALT5 Sigma within the fintech space, especially in a landscape where seamless financial solutions are increasingly demanded.
However, it’s important to monitor the regulatory environment and adoption rates closely, as these factors can significantly influence the overall success of this new product. While this initiative addresses some existing pain points in crypto-fiat conversions, its ultimate impact will depend on how well it is received by the market and whether it can sustain a competitive edge.
The introduction of a prepaid Visa card linked to the ALT5 Sigma Settlement Platform offers a compelling value proposition to users. By enabling instant access to converted fiat currency, the offering caters to the growing demand for fluid and versatile financial tools. This addition could drive increased usage of ALT5's services, potentially expanding its market share among crypto-savvy users and even traditional financial users seeking convenience in the crypto space.
From an industry perspective, integrating traditional financial instruments like prepaid cards into digital platforms signifies a blending of old and new financial models. This approach can ease the transition for users who are more familiar with traditional banking methods, thereby fostering greater trust and adoption of fintech innovations.
However, the competitive landscape remains intense, with numerous fintech and crypto companies vying for market dominance. ALT5 Sigma’s ability to differentiate through user experience, reliability and additional services will be critical in maintaining and expanding its user base. The success of this product integration will hinge on effective marketing, customer satisfaction and continuous innovation to stay ahead of competitors.
ALT5 continues to expand its digital fintech offering in the crypto world to provide functionality from traditional legacy financial models in a modernized world. The addition of an unbranded prepaid Visa®️ Card provides institutions and merchants with the ability to utilize the ALT5 suite of offerings for acceptance and conversion of crypto to fiat and then gain instantaneous access to fiat currencies on their prepaid VISA®️ Card or on thousands of cards as applicable.
"Many of our customers are looking for efficient ways to access, distribute and spend fiat derived from their crypto strategies. The addition of the ALT5 prepaid VISA®️ Card offering broadens their options and continues to bridge legacy financial products to the digitization of currency. Our customers can utilize a reloadable, physical, and/or digital prepaid VISA®️ Card for themselves, or for their own end-users. The integration to ALT5 Settlement enables customers with the ability for them to deal with multi-currencies, including fiat and crypto, and to convert funds directly to their card 24 hours a day, 7 days week, and 365 days a year," commented Andre Beauchesne, President and CEO of ALT5 Sigma.
About ALT5 Sigma Inc.
Launched in 2018, ALT5 is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5, through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". The Company processed over
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.
About JanOne
JanOne is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. JanOne is one of the constituents of the Russell Microcap Index, starting June 28, 2024. Through its biotech activities, JanOne is developing innovative, actionable solutions intended to help end the opioid crisis. JanOne 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.
JanOne's ALT5 subsidiary is a global fintech that provides next generation blockchain powered technologies for the trading, clearing, settlement, payment, and custodianship of digital instruments.
Please visit www.janone.com for additional information.
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 statements 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. This press release also contains statements and links relating to the profitability and prospective growth of ALT5's platforms and business, including, but 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. Such statements reflect JanOne'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 JanOne, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies.
Many factors could cause JanOne'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 JanOne'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 JanOne does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. JanOne 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@janone.com
1-800-400-2247
View original content to download multimedia:https://www.prnewswire.com/news-releases/alt5-sigma-a-janone-company-adds-prepaid-visa-card-integration-to-alt5-settlement-platform-302180946.html
SOURCE JanOne Inc.
FAQ
What is the new feature added to the ALT5 Settlement Platform?
How does the ALT5 prepaid VISA®️ Card benefit users?
When was the ALT5 prepaid VISA®️ Card launched?
Which company launched the ALT5 prepaid VISA®️ Card?
Can the ALT5 prepaid VISA®️ Card handle multiple currencies?
