Lynx Global Integrates Its Philippines, Singapore and Australia Operations into a Unified Payment Platform
Lynx Global Integrates Its Philippines,
Singapore and Australia Operations into a
Unified Payment Platform
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2021) -
Lynx Global Digital Finance
Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company")
is
pleased to announce that it is taking the first key steps in creating a unified payments platform across
Southeast Asia and Oceania by integrating the operations of companies in which it has recently
acquired a controlling interest: Vasu International Payment Solutions Inc. ("
Vasu
"), Payright Pte. Ltd.
("
Payright
"), Arkin Technologies Pty. Ltd. ("
Arkin
"), and Direct Agent 5
("DA5").
The DA5 digital wallet and mobile app will now be integrated into the product offerings of Arkin and
Payright.
The DA5 mobile app for Android and iOS offers a large suite of financial technology services
to its users; these services range from sending and receiving funds, bill payment, and cash in and cash
out at any of DA5's 2000+ locations in the Philippines.
The DA5 app was designed with over 15 years of
experience and historical remittance cash flow data in the local Philippine market, combined with a
strong practical knowledge of what is required to digitize cash in the region to provide everyone access
to the financial services they require for economic growth.
By connecting to the DA5 mobile app, Arkin
customers in Australia can easily send remittance payments to family in the Philippines in one single
network.
Additionally, DA5 is integrating to Right Choice Payments Pte. Ltd. ("
Right Choice
"),
Payright's licensed Major Payment Institution partner in Singapore, which will further connect all of Lynx's
operations into a single payment platform.
"This is a major building block in our strategy to construct a single digital payment platform that any
business, local or international can connect to and access multiple payment options across multiple
countries in the region," stated Mike Penner, President & CEO, Lynx.
"By successfully linking the
Philippines, Australia and Singapore together we will now be able to add new revenue streams in each
of these markets, creating new
growth opportunities."
Another example of the power of Lynx's strategy and technology layer is that the DA5 app will also be
powering cryptocurrency transactions in Australia where Arkin is a licensed Cryptocurrency Exchange
Services Provider.
DA5 currently has an application with Banko Sentral Pilipinas (the central bank of the
Philippines) for a Virtual Currency Exchange license which, if successful, will expand the Company's
cryptocurrency services even more.
"In my 14 years of experience in financial technology and payments across Asia and the Middle East, I
have not seen a solution that has the vision and capability to meet the local, regional and international
requirements for digitizing finance like what is being achieved at DA5.
We are excited to be able to
deploy our resources, partnerships and family of operating companies to scaling this solution across the
region," added Chris Aldaba, President, Asia, Lynx Global.
Arkin is also addressing the remittance demand for Australians to send funds to other countries in the
region, such as Vietnam and Mainland China. The team at Vasu, who have strong relationships across
the region, has been able to bring new partners in different countries to the network so that Lynx Global
network users can easily move funds across multiple countries, further expanding the geographic
coverage of the platform.
Finally, as part of the Company's strategy to build a single unified payment platform, it is changing the
name of Arkin to DA5 (Australia) to reflect the expansion of the DA5 service throughout the region, and
globally.
ABOUT LYNX GLOBAL DIGITAL FINANCE:
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale
merchants, financial institutions and other B2B industry partners by way of integration to the Lynx digital
payment platform. The Company's payment solutions are powered by a broad suite of payment
technologies and services. The Company has targeted banking and fintech relationships in South East
Asia and Oceania, a region with a population of greater than 650 million. By working with selected
banking and/or licensed EMI partners, the Company will be able to offer a digital payment platform with a
full suite of payment solutions, which may include merchant acquiring solutions; card issuing; remittance
and forex; and custodial digital asset services, including digital wallet services. The Company seeks
organic growth while investigating potential strategic acquisitions that may contribute critical technology
applications, additional services, and revenue streams, and that can complement or enhance existing
offerings and potentially increase or expedite the path to future profitability. While Lynx believes that
significant near-term opportunities exist for the Company's strategic initiatives, there can be no
assurance that goals and objectives will be reached or that any such underlying efforts or agreements will
provide fruitful or positive outcomes should they be implemented.
For more information, please contact:
Michael Penner, CEO
(604) 396-9974
www.lynxglobal.io
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS:
Certain information contained herein may constitute "forward-
looking information" under Canadian securities legislation, including the revenue projections of BRB and
the goals and objectives of Lynx. Generally, forward-looking information can be identified by the use of
forward-looking terminology such as, "will be", or variations of such words and phrases or statements
that certain actions, events, or results "will" occur. Forward-looking statements are based on the
Company's estimates and are subject to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance, or achievements of Lynx to be materially
different from those expressed or implied by such forward-looking statements or forward-looking
information, including capital expenditures, other costs, or implied future forecasts. The Company further
again cautions that all forward-looking statements are inherently uncertain, and that actual performance
may be affected by a number of material factors, many of which are beyond the Company's control. Such
factors include, among other things: risks and uncertainties relating to the Company's limited operating
history and the need to comply with environmental and governmental regulations. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and information. Lynx will not update any forward-looking
statements or forward-looking information that are incorporated by reference herein, except as required
by applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/85090