Fintech
RETRANSMISSION: Lynx Announces Its Metaverse Payments Strategy
The Company puts foundational work into virtual reality stage for financial services applications
- The platform will allow emerging and existing payment applications to thrive in the metaverse
- Tech giants already using ‘metaverse’ push as their growth strategy
- Lynx poised in 2022 to enabled financial inclusion for digital community through metaverse financial platform
Vancouver, British Columbia–(Newsfile Corp. – January 10, 2022) – Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) (“Lynx” or the “Company”) is pleased to announce its commitment to extend its financial infrastructure to include support for metaverse based services. This will further extend the Company’s current offering to provide leading edge financial service to its targeted client base in the markets of Southeast Asia.
“While metaverse is widely discussed across all industries right now, for Lynx, we have always focused on building an inclusive digital economy. The ability to integrate the virtual economy to our legacy financial system is further opportunity to give access of everyday financial transactions to people, regardless of income level or where they live; for them to expand their own local economy,” said Mike Penner, CEO.
From previous acquisition of BRB (Philippines) and its other regional operations, Lynx has a bank and relevant crypto license, as well as electronic money issuer license. The focus is now to fully integrate the existing financial payment and infrastructure with a metaverse virtual community. The Company will be evaluating the opportunities in the metaverse but has identified two use cases that will be the focus of its initial product offering.
Two Initial Use Cases:
Play to Earn (P2E)
P2E is defined by a work population that are playing crypto based games to create and earn valuable digital items that can be sold to generate income. According to Reuters this model generated $2.5 Billion in the first half of 2021[1].
During Covid, the Play-to-Earn industry took off as hundreds of thousands of people switched from their careers as shop owners, pedicab drivers, and restaurant workers to become NFT gamers, effectively virtual factory workers building new assets in a new digital economy. This new drive and new crypto economy[2] have given people the opportunity to replace their income in markets where the government has been unable to give them Covid payments. A true case of digital financial inclusion. Over half of these P2E users were from the Philippines and Vietnam. This highlights the scale of the opportunity for the Lynx platform as the region rapidly shifts to digital earning in a market that is still constrained with an underbanked population of 70 percent.
Currently, it is still cumbersome and expensive for these digital players to turn their NFT game earnings into cash and payments to buy groceries, pay their bills and meet their day-to-day needs.
Lynx is building that technology and payment layer that turns NFT gaming earning into real funds for day-to-day living. With Lynx’s all-purpose digital payment and cash in/cash out wallet Play-to-Earn workers can easily cash out their NFT Token earnings into fiat cash or onto a Lynx prepaid card that allows them to buy groceries, pay their bills, and experience true financial inclusion. This will be done through Lynx’s Metaverse Financial Platform.
Remittance Experience is Enhanced through the Metaverse
According to the World Bank, remittances (money transfers to low- and middle-income countries) is estimated at $540 billion dollars)[3].
Lynx intends to re-imagine the global remittance product through a Metaverse enabled money transfer experience: by creating digital meeting spaces that will allow a remitter to visit with and communicate with their loved ones while facilitating the transfer of money in a streamlined, entertaining, economical, and secure way. The Company believes that becoming a leading player in Metaverse Remittances will have long term benefits.
Bill Gates recently stated that he believes that most business meetings will occur in the metaverse within the next 2-3 years[4]. The Lynx Metaverse Payment and Financial Infrastructure will provide this capability to its user base and is working towards that goal now.
“I believe that this is potentially the most exciting time to be an entrepreneur in our financial history – the Metaverse, Blockchain, and Cryptocurrency technologies that we are poised to develop and deploy will change the financial landscape forever. It is the small companies with entrepreneurial management like ours that can be nimble enough to outperform the legacy incumbents and large players that are mired in their legacy systems – Lynx is positioning itself as the integrated technology layer that connects these new and exciting digital economy with the existing legacy systems so that users can easily move between the two worlds,” concluded Mike Penner, CEO.
ABOUT LYNX DIGITAL GLOBAL FINANCE:
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions and other B2B industry partners by way of integration to the Lynx digital payment platform. The Company’s payment solutions are powered by a broad suite of payment technologies and services. The Company has targeted banking and fintech relationships in ASEAN and Oceania, a region with a population approaching 700 million, that can provide Lynx a financial network hub location to service and operate a global traditional and digital financial infrastructure. By working with selected banking and/or licensed EMI partners, the Company will be able to offer a digital payment platform with a full suite of payment solutions, which may include merchant acquiring solutions; card issuing; remittance and forex; and custodial digital asset services, including digital wallet services. The Company seeks organic growth while investigating potential strategic acquisitions that may contribute critical technology applications, additional services and revenue streams, and that can complement or enhance existing offerings and potentially increase or expedite the path to future profitability. While Lynx believes that significant near-term opportunities exist for the Company’s strategic initiatives, there can be no assurance that goals and objectives will be reached or that any such underlying efforts or agreements will provide successful or positive outcomes should they be implemented.
For more information, please contact:
Phone: 1-888-273-1332
Email: [email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation, including the described initiatives of BRB and the goals and objectives of Lynx. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lynx to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures, other costs, or implied future forecasts. The Company further again cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. Lynx will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
[1] https://www.reuters.com/technology/nft-sales-volume-surges-25-bln-2021-first-half-2021-07-05/
[2] https://www.forbes.com/sites/tatianakoffman/2021/09/29/play-to-earn-the-new-crypto-paradigm-redefining-the-future-of-work/?sh=2488dbe645f5
[3] https://www.worldbank.org/en/news/press-release/2021/05/12/defying-predictions-remittance-flows-remain-strong-during-covid-19-crisis
[4] https://www.gatesnotes.com/About-Bill-Gates/Year-in-Review-2021#ALChapter5
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109531
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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