During the previous close, Mobilum Technologies Inc. [OTCPk:MBLMF] stock jumped 34.97 percent to $0.3007. In contrast with the 30-day Average Volume of 75.53K, MBLMF recorded volume of 469.78K. MBLMF’s stock value ranged from $0.0300 to $1.3393 over the last 52 weeks. Following the ramp-up of its services, MBLMF stock went up.
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Which MBLMF subsidiary expanded its services?
With a mission to provide digital payment infrastructure and digital asset management technologies, Mobilum is a technology-driven Payment Service Provider (PSP). By providing on-ramps and off-ramps, MBLMF aims to provide consumers around the world with the ability to convert fiat to crypto and crypto to fiat. Its offices are located in Canada, Hong Kong, Poland and Estonia.
As part of a new contract for services rendered for its on-ramp service offering, Mobilum expects to onboard 600,000 new customers through its wholly-owned subsidiary, Mobilum OÜ.
MBLMF subsidiary anticipates onboarding many new customers over the next few months, demonstrating the strength of the technology behind its payment platform and confidence that its customers and partners have in our ability to satisfy market demands. As MBLMF increases the accessibility of traditional finance through compliant digital payment offerings and technologies, it will support its customer ecosystem and execute on its growth strategy.
Upon completion of the customer onboarding process, MBLMF can expect to generate revenue of approximately CAD $1.9 million, in addition to providing these customers with value-added services within the MBLMF on and off ramp ecosystem.
For an initial term of six (6) months, MBLMF has also hired Generation IACP Inc. to make efforts to trade the shares of the Company in order to contribute to market liquidity, for a fee of CAD $7,500 per month.
In addition to offering a crypto-to-fiat off-ramp product, Mobilum also offers gift cards, debit cards, and credit cards.
MBLMF’s off-ramp complements its fiat-to-crypto on-ramp by offering the ability to convert digital assets to fiat currency using gift cards from retailers all over the world, including over 2,000 retail brands in 80 countries.
MBLMF can now develop a significant revenue stream through this new product feature, and it is exciting to see that the demand for such services continues to grow.
Here is more from MBLMF:
XPort Digital Limited (“XPort”), another subsidiary of Mobilum (MBLMF), recently signed an MOU with PhyloPay, an online back-office solution that offers accounting, vendor management, payroll, and procurement. PhyloPay will integrate MBLMF’s fiat-to-crypto widget into its back-office solution, integrating fiat currency to crypto. In a separate engagement, XPort Digital and PhlyoPay will establish a long-term partnership and new entity with the objective of providing a global back office system for the platform’s various features to allow crypto and fiat transactions.
