TechX Signs Letter of Intent With XPort Digital Limited
TechX Technologies Inc. (CSE: TECX, OTC: TECXF) announced a letter of intent (LOI) to acquire Xport Digital Limited, a crypto transfer gateway. Xport offers competitive cryptocurrency purchasing, merchant services, and real-time KYC compliance. The upcoming launch of Xport's crypto gateway platform in Q2 2021 aims to enhance their service offerings. While this acquisition could expand TechX's capabilities in the growing crypto sector, completion is subject to due diligence and regulatory approvals, with no guarantee of finalization.
- Potential acquisition of Xport Digital Limited could enhance TechX's market position in the crypto sector.
- Xport's offerings include competitive pricing and low fees for crypto transactions.
- Completion of the proposed transaction is uncertain and contingent on due diligence and regulatory approvals.
VANCOUVER, BC, March 2, 2021 /PRNewswire/ - TechX Technologies Inc. ("TechX'' or "the Company'') (CSE: TECX) (OTC: TECXF) (FRA: C0B:FF), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it has signed a letter of intent ("LOI") to exchange certain information in pursuit of a potential transaction involving the acquisition of all of the outstanding share capital of Xport Digital Limited ("Xport"), an arms-length party.
Xport is a crypto transfer gateway and digital wallet that offers cryptocurrency purchase services where users can buy from the listed cryptocurrencies on the platform including BTC, ETH and several other altcoins and tokens using a wide selection of payment methods. Xport also offers merchants two full-featured customizable widget gateway options to process credit card and crypto transactions instantly and securely. Xport Digital's crypto and credit card processing solutions provide real-time competitive pricing, KYC, fast and secure credit card processing and transfers of tokens to the user's wallet. Xport also offers token swapping and liquidity pool trading.
Xport Digital Key Features:
- Fiat to Crypto Purchasing - Xport offers crypto purchasing with competitive market pricing and below market fees.
- DeFi Swaps - Liquidity pools are highly incentivized above the current market CRO DeFi yields. Xport utilizes a proprietary staking model that encourages participation and inclusion.
- Merchant wallet hosting - allows merchants to bring their own wallet or use the Xport Digital wallets for token distribution
- Merchant dashboard - Full-service dashboard to view transactions, administer refunds, automated reconciliation and reporting features
- Instant KYC - Real-time video and AI confirm customer identity within seconds and allow them to complete purchase within minutes
- Affiliate network - Robust affiliate program for users and affiliate networks to benefit from Xport's support to earn cash back, lower fees, and more
- OTC Trading deck - users can easily buy crypto and digital assets with a credit card or write transfer
- Lightning-fast execution with high liquidity
- Secure - Partners with acquirers that are PCI DSS compliant to ensure high security standards are being used
Xport Digital has also completed the development of its crypto gateway platform, which is expected to launch in Q2 2021.
"Xport Digital has distinguished itself as the true pathway to cryptocurrency gateway services with quick and secure crypto to fiat transactions, decentralized perpetual swaps, low cost fees, and merchant gateway services for the Xport crypto transfer and non crypto transfer widgets" said TechX CEO Peter Green. "Unlike payment processors like Stripe, Xport also has the ability to offer low-risk payment processing to high-risk businesses like crypto, cannabis, subscription services and nutraceuticals AND offer low-cost transaction fees and KYC, low chargebacks and customizable payment widgets."
"Xport Digital is extremely excited for this opportunity and sees this as the next step in our journey towards influencing the crypto industry. Our experience in technology will be an unmatched driving force for our competitors in this space. Xport is an 'outside of the box' thinking organization and we see that our strategy has always been to create robust opportunities for new users and institutions to get involved in the evolution of crypto in today's financial markets" said Xport Digital Limited CEO, Aaron Carter.
Readers are cautioned that the LOI entered into with Xport does not set forth the terms of the proposed transaction, nor have such terms been finalized. Completion of the proposed transaction is subject to a number of conditions, including, not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The proposed transaction cannot be completed until these conditions are satisfied and there can be no assurance that the proposed transaction will be completed at all.
About TechX Technologies Inc.
TechX Technologies Inc is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
About XPort Digital Limited
XPort Digital has distinguished itself as the true pathway to cryptocurrency gateway services with quick and secure crypto to fiat transactions, decentralized perpetual swaps, low cost fees, and merchant gateway services for the XPort crypto transfer and non crypto transfer widgets. XPort also utilizes EU and Asia compliance measures in terms of transaction security risk. We understand that cryptocurrencies offer numerous benefits to businesses and their customers. However, crypto based merchants have been struggling to accept fiat for digital assets from users due to the lack of proper crypto payment gateway solutions.
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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/techx-signs-letter-of-intent-with-xport-digital-limited-301238342.html
SOURCE TechX Technologies Inc.
FAQ
What is the latest update from TechX Technologies Inc. regarding Xport Digital Limited?
What services does Xport Digital Limited provide?
What risks are associated with the acquisition of Xport Digital by TechX?
When is Xport's crypto gateway platform expected to launch?
What does the letter of intent mean for TechX's future?
