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.