Mobilum Technologies Signs MOU With Matic to Launch Its Hosted On-Ramp and Beta Off-Ramp Solution for Polygon
Mobilum Technologies Inc. (OTC: TECXF) announced a Memorandum of Understanding with Matic Network BVI Limited to develop a fiat-to-crypto on-ramp and off-ramp solution for Polygon users. The on-ramp will allow users to purchase MATIC tokens and USDC stablecoins via credit card without needing an exchange account. Mobilum's off-ramp will enable users to convert crypto to gift cards in over 80 countries. The solutions aim to enhance access for the unbanked population. Launch is estimated by Q3 2021. Mobilum aims to bridge traditional finance with digital economies.
- Signed MOU with Matic Network to develop fiat-to-crypto solutions.
- Facilitates purchase of MATIC tokens via credit card without an exchange account.
- Off-ramp solution allows crypto-to-gift card transactions across 80 countries.
- Targets unbanked populations, increasing market access.
- Estimated launch of on-ramp and off-ramp solutions by Q3 2021.
- None.
VANCOUVER, BC, July 29, 2021 /PRNewswire/ - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: TECXF) (FRA: C0B1), a technology driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that it has signed a Memorandum of Understanding to partner with Matic Network BVI Limited ("Matic") to develop an on-ramp and off-ramp solution for Matic users and developers.
Matic is the creator of Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon provides the core components and tools to join the new, borderless economy and society. With polygon, any project can easily spin-up a dedicated blockchain network which combines the best features of stand-alone blockchains (sovereignty, scalability and flexibility) and Ethereum (security, interoperability and developer experience). Additionally, these blockchains are compatible with all the existing Ethereum tools and can exchange messages among themselves and with Ethereum.
Mobilum's hosted fiat-to-crypto on-ramp solution will be utilized to create a fiat-to-crypto bridge for Matic. Users will be able to purchase MATIC (Polygon), MATIC (ERC-20) tokens, and USDC stablecoins using their credit card without having to set up an account on a cryptocurrency exchange. Matic developers will also be able to integrate their DApp with Mobilum's fiat-to-crypto on-ramp solution to allow their users to buy Polygon tokens and other cryptocurrencies from inside their DApp. This seamless integration will keep the user inside the DApp since the user will no longer have to purchase and send cryptocurrency from an exchange.
In addition to the on-ramp solution, Mobilum has developed an off-ramp platform that will be available to the Polygon community to provide a global corridor for crypto-to-fiat microtransactions. The Mobilum off-ramp will enable Matic users to redeem Polygon tokens and other cryptocurrencies for gift cards across 80 different countries with over 2,000 retail brands without any fees. Matic developers will also be able integrate the Mobilum off-ramp widget inside their DApp. The solution aims to make cryptocurrencies spendable in regions with large unbanked and underbanked populations that have limited access to crypto-to-fiat off-ramps. Matic will provide technology support, guidance and possibly development grants to Mobilum to enable further development on the Polygon ecosystem.
Mobilum estimates to launch it's hosted on-ramp and off-ramp solution for Matic by the end of Q3 of 2021.
"Our mission is to fill a gap and become a real bridge between traditional finance and the new digital economy. We are very excited to announce this strategic ecosystem partnership with Matic and its Polygon protocol. Matic has a world-class team and is one of the fastest and is one of the most promising protocols in the blockchain space. With the upcoming launch of the beta version of our off-ramp solution, Mobilum is providing a much-needed service that is not yet readily available to the market," said Mobilum OÜ CEO Wojciech Kaszycki. "Not only will users and developers be able to purchase MATIC tokens with a credit card, soon they will also be able to use their cryptocurrency in the real-world by redeeming them for gift cards."
About Mobilum Technologies Inc.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:TECXF) (FRA:C0B1) a technology driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat to digital currency with Mobilum's fully-compliant on-ramp gateway. Mobilum has offices in Canada, Hong Kong, Poland and Estonia. For further information go to Mobilum.com.
About Matic Network BVI Limited
Matic is the creator of Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon provides the core components and tools to join the new, borderless economy and society. With polygon, any project can easily spin-up a dedicated blockchain network which combines the best features of stand-alone blockchains (sovereignty, scalability and flexibility) and Ethereum (security, interoperability and developer experience). Additionally, these blockchains are compatible with all the existing Ethereum tools and can exchange messages among themselves and with Ethereum.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE Mobilum Technologies Inc.
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