TechX Technologies closes C$5M acquisition of merchant services gateway XPort Digital

TechX Technologies Inc (CSE:TECX) (OTCMKTS:TECXF) (FRA:C0B1) closed the acquisition of merchant services gateway XPort Digital Limited in a deal worth C$5 million. 

XPort is a merchant services fiat-to-crypto gateway onramp solution that offers credit card processing for cryptocurrency exchanges and wallets.

The firm is planning to launch its retail site, Buybitfast.com, in the third quarter of 2021.

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“The really cool thing about Buybitfast.com is that it’s not just only a really simple and user-friendly site, but it’s a testament to how our XPort Digital technology empowers our users and merchants to take advantage of opportunities to trade their crypto in this hot, fast-moving market,” said XPort CEO, Aaron Carter. 

Under the term sheet, TechX issued nearly 5.3 million shares to XPort shareholders priced at C$0.952 for a total consideration of $5 million.

“We are very pleased to begin the next phase of our growth following the completion of this acquisition,” TechX CEO Peter Green said in a statement.

“XPort Digital has continued to prove itself as one of the cutting edge industry leaders in the crypto space and a benchmark for performance. We look forward to working with XPort’s talented team to build a solid and profitable business that allows merchants, exchanges and other cryptocurrency businesses to connect their cryptocurrencies to the platform and embed our white-label widget in their platform.”

Vancouver-based TechX is a fintech company focused on traditional and emerging financial services such as payment processing, mobile payments and digital assets like cryptocurrency.

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Story by ProactiveInvestors