TechX Closes Acquisition of Fiat-to-Crypto Merchant Services Gateway XPort Digital

TechX Technologies
Published on: June 29, 2021

VANCOUVER, BC, June 29, 2021 /PRNewswire/ – TechX Technologies Inc. (“TechX” or the “Company”) (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a fintech company focused on traditional and emerging financial services such as payment processing, mobile payments and digital assets including cryptocurrency, is pleased to announce that it has closed the previously announced agreement whereby TechX has acquired all of the issued and outstanding shares of XPort Digital Limited (“XPort“).

TechX Technologies Inc. Logo (CNW Group/TechX Technologies Inc.) (CNW Group/TechX Technologies Inc.)

XPort is a merchant services fiat-to-crypto gateway onramp solution offering credit card processing for cryptocurrency exchanges, wallets and other cryptocurrency businesses. XPort’s credit card processing solution provides real-time competitive cryptocurrency pricing and low transaction fees.

As per the agreement, TechX has issued 5,252,100 common shares to XPort shareholders at a deemed value of $0.952 per share for a total aggregate consideration of C$5,000,000.

XPort Digital Key Features:

  • Lightning-Fast fiat-to-crypto purchasing with competitive market prices and processes transactions below current market rates through our retail site, Buybitfast.com
  • Buybitfast.com will be launching in Q3 of 2021.
  • XPort’s merchant services also offers various integration methods for a customized widget solution for our partners to integrate and process fiat to crypto transfers for their users.
  • Merchant wallet hosting allows merchants to bring their own wallet or use the XPort Digital wallets and liquidity pool for token distribution.
  • Full-service merchant dashboard to view transactions, administer refunds, automated reconciliation and reporting features.
  • Instant KYC with real-time video and AI to confirm customer identity within seconds and allow customers to complete purchases within minutes.
  • Secure – Partners with acquirers that are PCI DSS compliant to ensure high security standards are being used.

“We are very pleased to begin the next phase of our growth following the completion of this acquisition. XPort Digital has continued to prove itself as one of the cutting edge industry leaders in the crypto space and a benchmark for performance,” said TechX CEO, Peter Green. “We look forward to working with XPort’s talented team to build a solid and profitable business that allows merchants, exchanges and other cryptocurrency businesses to connect their cryptocurrencies to the platform and embed our white-label widget in their platform.”

“The really cool thing about Buybitfast.com is that it’s not just only a really simple and user-friendly site, but it’s a testament to how our XPort Digital technology empowers our users and merchants to take advantage of opportunities to trade their crypto in this hot, fast moving market,” said XPort CEO, Aaron Carter.

About TechX Technologies Inc.

TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA:C0B1) a fintech company focused on traditional and emerging financial services such as payment processing, mobile payments and digital assets including cryptocurrency. Led by senior leaders and industry experts, our investors have access to strategically selected portfolio companies that offer technologies across the entire cryptocurrency funnel, unlocking massive market potential. TechX’s portfolio of businesses include Mobilum Catalyx Exchange Altsignals Xport Digital and Shiftinsights .

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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