Facilitating Broad Integration of Digital Currency in the Digital Payments Markets
FOREX INVESTORS BUZZ PRESS RELEASE NXChain Inc. Acquires NXChain Inc. (OTCQB: NXCN), a fully reporting Shell Company traded on OTCMarkets (“NXCN”), today announced its entry into a binding contract to acquire 49.9 percent of ExPay Asia, a privately-held payments company operating in the Asian market. The companies will work together to implement future payment solutions based on the digital assets platform developed by NXCN. NXCN has previously completed the purchase of digital currency backbone technologies from LXCCoin Ltd. UK, and this is an important step for the upcoming launch of services for the company. NXCN has been operating in stealth and will continue to do so for some time yet.
Foreign ownership is restricted in Thailand, and NXCN has requested regulatory clearances from BOI in regards to its foreign ownership. Once permission is granted NXCN may execute an option it is currently holding for a 51 percent majority ownership.
NXChain Inc. Acquires
About ExPay Asia
The ExPay Group was formed in 2012 by finance industry executives to develop an open platform for online merchants incorporating intelligent back office solutions. The company has grown steadily and is currently turning over an approximate $40 million annually with a net result of $1.25 million. The company focuses on combining a range of innovative services to existing payment solutions and has through the partnership with NXCN already secured new business, aiming at doubling both turnover and result next year. More information can be found at http://expay.asia.
About NxChain, Inc.
NxChain, Inc. is a fully reporting and trading Company on OTCMarkets under the trading symbol NXCN.QB. The Company is growing its business through acquisitions and mergers of cryptocurrency companies and technologies to provide a fixed-price cryptocurrency platform to multiple levels of the financial industry in various markets worldwide. More information can be found at http://www.nxchain.com.
NXCN and ExPay are working jointly on constructing a digital currency gateway combining several technologies, including amongst others the NXCN-owned LXCCoin Digital Currency backbone.
Mr. Sean Tabatabai, CEO of NXChain comments: “We firmly believe that our platform of blockchain technology will induce a paradigm shift in the way we do transactions. Our team has worked on our platform extensively for years, and at present we are including certain other technologies to work in concert with our services. We have great faith in ExPay being a key component in our future business.”
Mr. Chakrit Ahmad, CEO of ExPay comments: “We expect blockchain to become a core of future money transactions, but until we started testing with NXCN and their stable currencies we did not see how volatile and/or slowly transacting digital currencies could be integrated into what we are doing. While still focusing on current business; we anticipate that being part of the NXCN technology platform presents some unique advantages and we look forward with excitement to releasing services together.”
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