Mobile Digital Bank MinePlex Secures $100 Million Funding Facility From GEM Digital Limited

SINGAPORE, Oct. 11, 2022 /PRNewswire/ -- GEM Digital Limited (GEM), a Bahamas-based digital asset investment firm that sources, structures and invests in utility tokens listed on over 30 cryptocurrency exchanges, has provided MinePlex, a new-generation digital ecosystem, with up to $100 million in funding.

The funding will be used to advance global penetration of the MinePlex ecosystem and the development of new banking technologies. MinePlex Banking — the company's flagship product — will soon enable millions of users to make fast and safe digital transactions through the use of bank cards, mobile applications, and cryptocurrencies.

In April of 2022, MinePlex launched a CrossFi service called MinePlex.Finance to bridge digital assets and popular fiat currencies. The new app allows users to make transfers, store digital assets, and spend funds. MinePlex intends to start CrossFi acquiring through collaboration with MasterCard and Visa cards later this year, enabling it to accept USDT, BTC, ETH, and TRON tokens. The on-ramps will be available online and through POS terminals based on MinePlex's processing platform, certified by PCI DSS Level 1. MinePlex is also optimizing its card issuing program to add international multi-card support and different payment methods to the MinePlex wallet.

As part of the fundraising, MinePlex will also implement the listing of its native PLEX token on new exchanges, intensify marketing efforts, strengthen the development of B2B and B2G opportunities, and promote partnerships with financial institutions.

"This cooperation opens a new chapter in the development of MinePlex and shows that we are progressing towards our intended goal: to contribute to solving the problem of financial isolation of millions of people globally by utilizing the capabilities of the CrossFi technology we have developed. This investment commitment will accelerate the scaling of the MinePlex ecosystem and the development of new-generation financial instruments based on our own blockchain. We are really proud to work with GEM," as stated by Aleksandr Mamasidikov, Co-founder & CEO of MinePlex.

MinePlex plans to obtain a banking license and principal membership with the MasterCard International payment system. Parent company MinePlex Group has processed more than five million cards across 50 banks in Russia, Europe, and Asia. The company has offices in Barcelona, Dubai, Uruguay and Singapore.

About MinePlex
MinePlex is a new-generation digital ecosystem that emerged to satisfy the demand for more advanced, modern payment solutions. The company utilizes unique CrossFi technology, created as a combination of traditional finance's stability and blockchain technology's transparency and security.

MinePlex adheres to the mission of expanding the influence of blockchain technology and providing accessible financial tools that will make using crypto as easy as traditional currencies. Founded in 2020 and headquartered in Singapore, the company has launched 8 active products on the crypto market, solving frequent problems encountered by industry participants.

For more information: https://mineplex.io/ 

About GEM Digital Limited
GEM Digital Limited is a digital asset investment firm based in the Bahamas. It actively sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs globally.

Global Emerging Markets ("GEM") is a $3.4 billion alternative investment group with operations in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments.

For more information: http://www.gemny.com

SOURCE MinePlex