TechX Technologies buys crypto on-ramp financer XPort Digital in C$5M stock deal

TechX Technologies Inc (CSE:TECX) (OTC:TECXF) (FRA:C0B1) has signed a definitive agreement to acquire a 100% interest in XPort Digital Limited, which offers credit card processing for cryptocurrency exchanges and wallets, in a stock deal worth C$5 million. XPort is a merchant services company, known as fiat-to-crypto gateway solution (think dollars to bitcoin, etc). Its plug-and-play customizable widget can be set up quickly for merchants to process credit card transactions instantly and securely, the company said. Merchants may also use Xport's API to integrate directly with their own platform. TechX issued 5.2 million common shares at a deemed value of $0.952 per share. READ: TechX Technologies to acquire Cryptobuddy trading signals platform for C$5M in stock "We are beyond excited to announce the acquisition of XPort Digital,” TechX CEO Peter Green said. “With the explosion of exchanges and new tokens popping up daily and the lack of fiat to crypto on-ramping services, it's a great opportunity for XPort and TechX. XPort's fiat-to-crypto on-ramping offers the quickest and easiest solution for consumers to buy Bitcoin, Ethereum and other cryptocurrencies without setting up an account." XPort CEO Aaron Carter will remain in that role, the company said. Carter has an extensive background in the financial industry and has worked with various Fortune 500 companies in investment banking, online brokerage, market data and a prominent US equity exchange. "My goal for XPort Digital Limited is to create a company that is, not only a key player in the crypto space, but one of the cutting edge industry leaders that other companies see as a benchmark for performance,” Carter said. “I'm excited to join the TechX team and look forward to building a solid and profitable business. Merchants, exchanges and other cryptocurrency businesses can connect their cryptocurrencies to the platform and embed our white-label widget in their platform and be up and running within a few days. Consumers will also be able to purchase cryptocurrencies without signing up for an account on our upcoming website, buybitfast.com, in the very near future.” TechX also announced that it has engaged NAI Interactive Ltd to provide investor relations services to tap into key markets and attract investors from the Chinese community, the company said. TechX will pay a monthly fee of C$2,500 over a sixth-month term, which can be extended.  Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel