Mobilum Technologies Provides Corporate Update on Strategic Initiatives and Operational Highlights
VANCOUVER, BC, Dec. 9, 2021 /PRNewswire/ - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, is pleased to announce a corporate update on strategic initiatives.
Mobilum's interim CEO, Wojciech Kaszycki commented, "I am very pleased with the Company's focus in remaining steadfast on growing out our strategic initiatives, partnerships and product optimization, and pleased to share some of our recent efforts."
US Market Entrance
Mobilum continues to focus its efforts on leveraging its digital payments infrastructure with large partnerships and expects its transaction volume pipeline (TTV) to grow in the upcoming quarter. On December 1, 2021, Mobilum signed an agreement with leading fiat-to-crypto and payment infrastructure company Wyre to help accelerate the Company's US expansion. By integrating Wyre's API, Mobilum will gain access to Wyre's ACH payment rails and will have the ability to process automated clearing house (ACH) transactions for US clients on its on and off-ramping platform. The full integration with Wyre's banking rails is anticipated to be completed in the first quarter of 2022.
Launch of Updated Over the Counter (OTC) Crypto Trading Desk
On October 26, 2021, Mobilum announced the launch of its updated Over-the-Counter (OTC) trading desk website, which has generated approximately C$20 million in total transaction volume to date for the Company.
Mobilum's OTC trading desk is designed exclusively for high net-worth individuals and institutions looking to execute large-volume orders of Bitcoin and other cryptocurrencies for transactions above $50,000. Mobilum gives customers access to a deep liquidity pool, diverse selection of digital assets, and a highly personalized service that allows customers to trade high volumes with zero slippage and competitive rates.
Customer Onboarding
Mobilum is also pleased to announce that it has onboarded over 70,000 new users since signing a previously announced (October 19, 2021 press release) contract for services rendered for its on-ramp service offering. The Company anticipates onboarding up to 600,000 new users through the contract.
The Company expects to recognize up to an estimated C$1.9 million in revenue after the onboarding process has been completed, in addition to providing these customers value-add services within the Mobilum on and off ramp ecosystem.
Polygon Integration
On October 4, 2021, Mobilum announced an on and off-ramp integration with Polygon, one of the world's largest blockchain protocols and frameworks for building and connecting Ethereum-compatible blockchain networks. The solution is now available at https://polygon.mobilum.com.
Fiat-to-Crypto On-Ramp Service Integrations
The Company has recently seen a doubling of its user-base through executing on commercial contracts and onboarding of new partners & users. On December 6, 2021, the Company announced the successful integration and launch of its fiat-to-crypto on-ramp widget on the BTSE exchange and JoomAce platforms.
Strategic Leadership Changes
On October 1, 2021, Mobilum announced the beta test launch of its proprietary automated high-frequency trading multi-market engine to facilitate smart cryptocurrency trading. At the same time, the Company hired Piotr Majka as its Chief Trading Officer to oversee the engine and trading strategies. Majka is a results-oriented capital markets expert with over 20 years of experience in finance including 15 years as a senior executive for global and local banks. Majka was responsible for projects for the largest Polish mutual and pension funds and US and UK investment banks, including MSCO, ML, GS, CLSA, KBC, UBS. He was also one of the first in the industry to successfully introduce DMA and ALGO trading to institutional clients.
Since Majka joined the team, he has continued to play an instrumental role in building out the Company's algo trading platform including a market-making strategy. The Company is quickly seeing a lot of interest from strategic partners in leveraging this platform for its capabilities.
On December 3, 2021, Mobilum announced that Wojciech Kaszycki would be moving into the role of interim Chief Executive Officer. The Company also announced that Heidi Gutte had been appointed Chief Financial Officer. Ms. Gutte holds the professional designation of chartered professional accountant (CPA, CGA), and is a member of Chartered Professional Accountants of B.C. and Canada. She has had extensive experience as a controller and CFO of numerous publicly traded and private corporations in several industries.
About Mobilum Technologies Inc.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B), a technology-driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum also provides market making services leveraging the Company's proprietary algorithmic trading platform to increase liquidity for exchanges. Mobilum has offices in Canada, Hong Kong, Poland, and Estonia. For further information please visit Mobilum.com.
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.
Related Links
https://mobilum.com
https://polygon.mobilum.com
https://mobilum.com/otc/
https://www.youtube.com/watch?v=9-s6S_XKu6Y
SOURCE Mobilum Technologies Inc.
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