Business
Fast Finance Pay Corp. ('FFPP') acquires Ok.de Holding, Inc. and, through it, the Ok.de Mobile Business
Fast Finance Pay Corp. ('FFPP') acquires Ok.de Holding, Inc. and, through it, the Ok.de Mobile Business.
About this update from Fast Finance Pay Corp.
[{"type":"text","content":"Agreement/Share Exchange for Acquisition via Florida Special Purpose Vehicle ('SPV') of OK.deBERLIN, GERMANY / ACCESSWIRE / November 8, 2022 / German-managed Fintech investor and incubator, the Nevada-incorporated Fast Finance Pay Corp. ('FFPP' on OTCIQ), announces it has agreed in a related party transaction to acquire from FFPP's majority parent organization, Frankfurt Stock Exchange-traded Fast Finance 24 Holding AG (‘FF24 Holding'; 'FF24' on XETRA and Frankfurt), a German private limited company, FF24 Sustainability GmbH ('FF24 Sustainability'), incorporated in the north-western German State of North Rhine-Westphalia.Formerly named OK.de, the target contains the OK.de mobile 'free-mailer' e-mail and end-to-end secure, encrypted, instant messaging service which attracted the FF24 Holding investment team in Berlin.Ok.de currently has approximately 2.3 million users of its e-mail service, which to date predominantly addresses only the domestic German consumer market, as does the OK.de IM app., which benefits from access to military-grade encryption software described by attorney and IP law specialist, Armin Dartsch, the Director at FFPP who is non-executive Chairman of the quoted German 'umbrella' company, FF24 Holding, as 'exceptionally robust.' The IM app, which is not dissimilar in performance and confidentiality to the popular Signal IM app, has particular attractions to a group such as FFPP, where FF24 Holding is concentrating its interests in the burgeoning FinTech segment.OK.de/FFPP are working with their software development partner to develop functionalities not yet considered 'standard fare' in the universe of IM apps, including a uniquely secure mobile crypto-currency wallet with facilities not only to switch between different leading crypto-coins, and between crypto- and major fiat currencies using the app but also to transfer crypto- currencies C2C between app users, securely by means of something as simple as an IM.Commenting on the logic behind the acquisition of OK.de through SPV OK.de Holding, Inc., Dartsch said, 'Because of the areas of e-finance our present two subsidiaries, ff24Merchant Services GmbH and ff24 Ventures GmbH, address, which are B2C e-payments processing, and C2C e-banking and cross-border remittances respectively, OK.de not only represents a channel for us to communicate with potential c...