GreenBox expands its international footprint and licensing capabilities to deploy its proprietary blockchain payment solutions
SAN DIEGO, CA / ACCESSWIRE / August 5, 2020 / GreenBox POS (OTCQB:GRBX) ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, has acquired MoltoPay, a Money Service Business (MSB) registered and licensed with Canada's Financial Transactions and Reports Analysis Centre (FINTRAC).
As part of the Company's international expansion strategy, GreenBox acquired 100% of the shares of MoltoPay for cash consideration of approximately $70,000 in a transaction that closed on August 3rd, 2020. A FINTRAC registration and license allows for higher processing volume and the holder to become a payment facility for financial institutions. The Company intends to primarily utilize the new license capacity in Canada as it grows its business in the country.
"With this acquisition, we are able to take advantage of MoltoPay's licensure and deploy our proprietary technology along with it. GreenBox continues to look for growth opportunities to capitalize on its market differentiation and positioning. Adding MoltoPay's money service business and licensing is an attractive combination as we continue to expand our business globally," said Fredi Nisan, Chief Executive Officer of GreenBox POS.
About GreenBox POS
GreenBox POS (OTCQB:GRBX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GRBX@mzgroup.us
www.mzgroup.us
SOURCE: GreenBox POS, LLC
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