ORLANDO, Fla., Aug. 18, 2021 (GLOBE NEWSWIRE) — Breaking news from Mobilum Technologies Inc. (CSE: MBLM) (OTC: MBLMF) (FRA: C0B) may turn the heads of those fervently watching the crypto community. Mobilum, which describes itself as “a technology driven payment service provider company with a mission to make traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies” just announced that it has signed an agreement with ALT 5 Sigma (“ALT 5”) to provide fiat-credit-cards-to-crypto on-ramp services to its users on Alt5Coins.com.
Note the following!
First, let’s establish for the uninitiated what “fiat” means. Fiat, by conventional definition is “government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.”
Since President Nixon’s decision to decouple the U.S. dollar from gold in 1971, a system of national fiat currencies has been used across the globe. Fiat money can be any money declared by a government to be legal tender.
Now, Mobilum will provide its fast, secure, convenient and fully FINTRAC compliant on-ramp payment gateway services to ALT 5, allowing individuals on Alt5Coins.com to purchase Bitcoin, Litecoin and Ethereum instantly and securely with a credit card.
It’s the marriage of two massive worlds.
First, while this is not the first time fiat-met-crypto, it creates an opportunity for Mobilum to participate in the crypto phenomenon.
Additionally, what we like is that it would seem reasonable to suggest that Mobilum’s presence in the transaction as a facilitator who gets a commission, and not a direct investor in crypto, somewhat immunizes it from market fluctuations as they are taking points out of the transaction, not betting principal on the rise or fall of a volatile digital asset.
But what we also like is that Alt 5 has chosen Mobilum to be their partner. It’s not Costco switching from American Express to Visa but you get the point. An established player in the crypto industry has essentially said, “Yep, we like your tech. Let’s make it our transactional lifeblood.”
We think this sends signals (perhaps over time) that Mobilum’s fiat-to-crypto facilitator might be a strong option for other companies in the crypto world.
And given the epic popularity in crypto, there’s nothing cryptic about taking down those commissions.
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