Lynx Global Launches DA5 Australia and Activates the DA5 - FinFan Vietnam Payment Rails
Lynx Global Launches DA5 Australia and
Activates the DA5 - FinFan Vietnam Payment
Rails
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2021) -
Lynx Global Digital Finance
Corporation
(CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0)
("Lynx" or the "Company")
today
announces its subsidiary Direct Agent 5 Inc. ("DA5"), has opened up direct operational payment
distribution channels to service the Vietnam market by way of API integration with
FinFan - Vietnam's
largest provider of global remittance services.
In an effort to service pent up demand in the Australasia market for this specific money rail, and to
streamline corporate branding under the Lynx Global banner, the Lynx Australian subsidiary Arkin
Technologies has now been renamed to
Direct Agent 5 PTY. LTD.
("
DA5 Australia
") for purposes of
sales, marketing, and operations.
DA5 Australia is an Australian Transaction Reports and Analysis
Centre ("AUSTRAC") registered holder of a Remittance license and Digital Currency Exchange
Services Provider license in Australia.
"Our recently launched DA5 Australia operations can now offer our customers with both cross-border
money transfer services, and the exchange and trade of money for digital currency and digital currency
for fiat in that market.
Here in Australia the demand from the local Vietnamese and Chinese populations
supporting our efforts is significant and now that the FinFan rails are open we expect substantial
remittance and forex volumes to begin processing," stated Mr. Yeoryios Markos, President of DA5
Australia.
"It's an investment in a relationship with DA5 built on principles that transcend simply being recognized
as industry leaders - those of trust, honesty, and the good faith we share when bringing flagship products
to communities where the scope and success of real time cross-border transaction disbursements to
accounts, cards, ewallets, ATMs, or IBANs, is most critical. Where we shine is not only disbursing to
loved ones across the globe, but also in getting B2B payments to the places around the World, where
and when your clients most need it via smart collection innovative services," added Dr. Tuyen NGUYEN,
CEO of FinFan.
"As Lynx Global and its operating companies continue to expand its network of global distribution rail
integrations, we continue to push ourselves to the forefront of recognized innovative money-transfer
solution providers. With remittance, forex and cryptocurrency payments services becoming more
competitive every day, the greater the capabilities provided by a one-source solution the greater the
differentiation advantage of the overall financial solution. This strategic integration between DA5 and
FinFan further enhances our customer experience and broadens the global coverage points of the DA5
proprietary money rails," said Michael Penner, CEO Lynx Global.
During the onset of the COVID-19 pandemic, FinFan became the first neo-banking institution in Vietnam
to utilize the Ripple XRP blockchain network and its global financial payments network called RippleNet.
As part of RippleNet, which comprises more than 300 financial institutions worldwide, FinFan, in
conjunction with the partnership, carved out a more transparent solution for on-demand minimized
transaction fees, with a real-time bridge between the multi-currency exchange, that could be instantly
settled in the destination countries on a 24/7 basis -
it is to this FinFan infrastructure that DA5 and
the Lynx Pan-Global Network now has full access.
At the time of the Ripple announcement, FinFan Founder and CEO Dr. Tuyen NGUYEN stated, "FinFan
brings Vietnamese Generation Z over the globe - the first fully digital generation - money beyond borders
is an experience. These demographics want their financial experiences to be seamless, effective, and in
line with their lifestyle preferences when sending money home to their loved relatives."
About FINFAN
FinFan is a Cross-Border Money Movement Platform authorized by the Central Bank of Vietnam (SBV)
that helps service providers expand quickly to unreached markets with a full spectrum of remittance &
payment services. FinFan is the first non-bank financial company to be licensed and to operate in
Vietnam. Since its founding in 2007, it has grown tremendously to become the Number 1 money transfer
company in the country. Within 13 years, FinFan has added many more services to its portfolio, including
overseas money transfer, payment, pay the bill, cash-in, cash-out, and more.
The Digital banking revolution is taking Vietnam by storm, and FinFan is considered one of the key
players in this. By being the first non-bank institution in Vietnam to use RippleNet, it redraws the financial
boundaries by bringing a new level of efficiency and accessibility for cross-border transactions to and
from the nation.
Bringing new tech mainstream, today Finfan aims to provide a comprehensive foundation for the future
of financial infrastructures that facilitate cross-border transactions in real-time. FinFan's innovative
financial transaction platform and textbook infrastructure network enables partners like banks, MTOs, bill
payment service providers, cryptocurrencies FX/ traders, and other digital financial institutions around
the world to access these functionalities easily, reliably, and securely, to directly transact via single
opened API with the local market without the need for a central counterparty or separate correspondents.
ABOUT LYNX DIGITAL GLOBAL 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 ASEAN and
Oceania, a region with a population approaching 700 million, that can provide Lynx a financial network
hub location to service and operate a global traditional and digital financial infrastructure. 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 successful or positive outcomes should they be implemented.
For more information, please contact:
Michael Penner, CEO
(604) 396-9974
www.lynxglobal.io
https://t.me/Lynxglobalfinance
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 described initiatives of DA5 and
the goals and objectives of Lynx.
The economic materiality of the working relationship with FinFan is
unknown due to the contingent nature of results that may be generated. At this point in time, Lynx
considers the FinFan relationship is unlikely to yield a substantial short-term economic benefit for
Lynx or DA5, however, Lynx and DA5 considers that the business relationship supports the
organizations strategic growth plans.
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/87851