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Vemanti Group Announces Investment In TrustPay, A Blockchain-Focused Fintech Company
Vemanti Group Announces Investment In TrustPay, A Blockchain-Focused Fintech Company.
About this update from Vemanti Group Inc.
[{"type":"text","content":"\n\n NEWPORT BEACH, Calif., Jan. 30, 2018 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven holding company, today announced that it has entered into an agreement to take 19.6% interest in TrustPay USA, Inc. (“TrustPay”),  an innovative blockchain-focused FinTech company.\n TrustPay is the parent company of TrustPay, JSC, a B2B, B2C, and P2P financial services, merchant services aggregator, and mobile payment company with operations based in Ho Chi Minh City, Vietnam. In partnership with 22 leading national banks, the company develops and markets several software and hardware payments products, including mobile apps, digital gateways, cloud-based POS, QR readers, virtual prepaid VISA cards, and NFC/HCE applications. In the last 5 years, it has focused product development efforts on 2 key blockchain-based financial applications: an AI-driven digital banking platform and a cryptocurrency trading exchange, TrustDex (www.trustdex.io). The investment agreement follows a successful pilot program of TrustDex in early December 2017 managed by TrustPay and the Company, offering consumers based in the countries of South East Asia improved access to online cryptocurrency trading. The pilot program attracted more than 10,000 trades per day within 3 weeks. As part of the deal, the Company and TrustPay agree on a partnership to expand global and US market presence for TrustDex and to bring innovative digital currency-based financial services to underbanked markets around the world. TrustPay is working on an API integration to Coinbase (www.coinbase.com), one of the world’s biggest exchanges, for Bitcoin, Bitcoin Cash, Litecoin, and Ethereum transactions. It’s also looking to launch its Banking-as-a-Service (BaaS) offering and deliver its unique AI and machine-learning technology to 500,000-strong network of merchants and users. \"Our goal is to build up assets and valuation. Obviously, we are very pleased to add this FinTech investment to our portfolio. With a target regional market of over 640 million people and 2.6 trillion in GDP to start, we expect TrustDex alone to have tremendous financial achievements this year. And with an experienced blockchain engineering team already on-board, we’ll also be able to help accelerate TrustPay’s product launch roadmap for their digital...