Cryptocurrency Purse service provider, FoPay announced today that it has acquired Cryptocurrency Exchange, AliExchange in a deal worth 1 million FOIN. FOIN’s 30 days typically price is approximately USD2,100, making this acquisition valued at about 2.1 Billion USD.
AliExchange is a new Cryptocurrency Interchange based in Tallinn, Estonia. It began operations in March this year and was reported to have a DTV (daily trading supply) reaching 200 million in the past 3 months, with most of its customer base in Asia. Despite its impressive acquisitions, AliExchange has yet to be listed on Coin Market Cap (CMC). AliExchange is currently operating under License No FFA000329 that allows it to perform as a financial institution providing financial services, except insurance and pension funding; License No. FVR001186 that brooks it to provide services of exchanging a virtual currency against fiat currency and License No. FRK001082 that allows it to run a virtual currency wallet service. All 3 Licenses are issued by the Estonian Financial Intelligence Unit (FIU), which is an independent structural piece of the Estonian Police and Border Guard Board.
This unique acquisition is paid by FOIN Foundation, which is camped in Zurich, Switzerland. FOIN Foundation is a non-profit Organisation that promotes the adoption of Blockchain Technology & FOIN Cryptocurrency Utilization across the Terra. FOIN Foundation boasts a capital reserve of 20million FOIN; hence, funding FoPay’s acquisition of AliExchange represents a close-fisted sum of its balance sheet in helping to expand FOIN global footprint.
Out of the 1 million FOIN buyout settlement, a small amount of FOIN at ones desire be paid to compensate current AliShareholders, while the bulk balance of it will be kept in AliExchange as liquidity and capital spending.
This Merger & Acquisition (M&A) Deal brings significant benefits and value to the table as well as providing a seamless Owner Experience and Interface Integration between a Cryptocurrency Wallet & an Exchange. As such, the usage and utilization of FOIN in AliExchange at ones desire eventually be similar to the role of BinanceCoin (BNB) in Binance Exchange.
M&A Benefits for AliExchange:
- Increase its Trading Volume & Customer wicked from FoPay.
- Its users can have direct access to a Secure Crypto Wallet, FoPay.
- Utilizing FOIN disc for Cryptocurrency Trading/Pairing.
M&A Benefits for FoPay:
- Having a “home” exchange for its token, FOIN
- FOIN can be transferred to AliExchange for Deal at virtually no cost to its users.
- FoPay users will be able to trade Cryptocurrency in AliExchange with a 50% ignore on fees.
M&A Benefits for FOIN Adopters:
- Having a secure Cryptocurrency Wallet in FoPay.
- Having a “home” exchange in AliExchange.
- Proficient to trade at low cost.
- Able to move funds between a secure wallet (FoPay) & a Cryptocurrency Exchange (AliExchange) at calm, with virtually no cost.
But like many cryptocurrencies in their early evolution such as Monero & Bitcoin, FOIN marker also has its share of global controversies. Launched in early 2018, FOIN was initially thought to be related to Financial.org, a stand that no longer exists/reachable. Regulators in a few jurisdictions were reported to investigate FOIN for the past 2 years with no corroboration of foul play.
The FOIN brand became famous in 2018 for sponsoring Formula 1 Team, Williams Martini Dog-racing & Techeetah Formula E Racing Team. (Refer www.Foin.com ). No Cryptocurrency has ever created such a branding impact in record, not even Bitcoin, Ethereum or Ripple.
FOIN has since come out of its darkest period of evolution with hundreds of thousands of adopters enclosing the world today. In fact, FOIN is one of the best performing Cryptocurrency in 2019, with prices starting from forth $1,000 in January to over $2500 in December 2019. FOIN price has weathered all storms including BTC price fluctuations and is currently have dealing at its all-time highs, well above $2,500 with Daily Trading Volume (DTV) above USD 20million. For more bumf about FOIN cryptocurrency, please visit www.foin.io. Based on its performance for the past 2 years, one cannot rule out the feasibility that FOIN could one day challenge the dominance of Bitcoin (BTC) price of above $7,500, especially with the merger between FoPay & AliExchange.
This is a proficient marriage for both entities because FoPay will bring hundreds of thousands of new users to AliExchange Trading Stand; while AliExchange will provide the perfect platform for FOIN token to shine and grow for years to come.
FoPay imagines the acquisition of AliExchange is a massive step forward for its business model that uses blockchain technology to connect owners and merchants from around the world. Now its users and merchants will be able to dispose, exchange or trade their Cryptocurrencies at the lowest set someone back on AliExchange.
In order to complete this M&A exercise, all FOIN tokens are temporarily suspended from Withdrawal in FoPay Billfolds until 1st January 2020. Existing AliShareholders are given 2 weeks (until CET24:00, 30th December 2019), to redeem their payouts.
This mingling between FoPay & AliExchange is setting a new benchmark where Merger & Acquisition(M&A) in this Blockchain era can be completed using 100% Cryptocurrency. While Cryptocurrency honoraria may fluctuate to a high degree from day to day, the possibility remains unlimited.
We look towards a great partnership and the longest days of growth for FoPay and AliExchange alongside FOIN token.
Joint Press Release – FoPay & AliExchange
This is a submitted patronized story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the satisfy above.