#CryptoCorner: NXT-ID (NASDAQ: $NXTD) Applies for “Spin-Off” to Create Payments Business PartX, Inc., CoinMarketCap to Promote Greater Accuracy with DATA Initiative
#CryptoCorner: NXT-ID (NASDAQ: $NXTD) Applies for “Spin-Off”
to Create Payments Business PartX, Inc., CoinMarketCap to Promote Greater
Accuracy with DATA Initiative
Point Roberts WA, Delta BC, May 1, 2019
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May 1 Crypto Corner
Stocks discussed: (NasdaqCM:NXTD)
NXT-ID, Inc. (NasdaqCM:NXTD) has announced the filing of a Form
10 Registration Statement with the U.S. SEC to facilitate the company’s planned
spin-off of its payments, authentication and credential management business.
This spin-off will see the creation of a new company called PartX, Inc., which
will include the assets acquired in the May 2017 business combination with Fit
Pay, Inc. as well as the payment, authentication and credential management
assets that NXT-ID developed previously. Upon the transaction, shareholders of
NXT-ID will automatically own shares of PartX, Inc. Michael Orlando, COO of
Nxt-ID, president of Fit Pay, Inc. and incoming Chief Executive Officer of
PartX, Inc., said:
"This
spin-off will enable both companies to execute business plans that leverage
their core strengths and to present clear, well-defined value proposition for
our shareholders, partners and customers. This more singular focus, along with
a more concentrated and efficient use of resources, will fully empower both
companies to maximize shareholder value."
The total crypto
market capitalization crept up a bit yesterday after having dropped down to the
neighbourhood of $168-170 billion since last Thursday. At press time, the
market cap is sitting at $175 billion according to data from CoinMarketCap. This modest
market growth was accompanied by fairly modest movement into the green by much
of the top 100 coins listed by market cap on the site. One major exception to
this trend was Bitcoin Cash (BCH), valued at $269,
and which currently boasts nearly six percent growth in the last 24 hours with
a market cap of $4.78 billion. Bitcoin (BTC), after nearly
grazing its hard won $5000 support level over the weekend, is currently trading
for $5380, with a market cap of $95 billion.
CoinMarketCap, who
today celebrates their sixth anniversary, announced in a blog
post
that, among other things, they were introducing an initiative to “promote
greater transparency, accountability, and disclosure from projects in the
crypto space”. Called the Data Accountability and Transparency Alliance (DATA),
the endeavor will require live trading data and live order book data from
exchanges to ensure the most accurate information is provided.
CoinDesk reports that
crypto payments processor BitPay has partnered with taxation services provider
Refundo to allow U.S. taxpayers to receive their federal and state income tax
returns in bitcoin. Customers can receive part of or all of their refund in
bitcoin through Refundo’s CoinRT service, but will first have to provide a
bitcoin wallet address and information for know-your-customer (KYC) measures.
Refundo CEO Roger Chinchilla commented:
“Adding bitcoin was a natural fit for our customers who
often do not have traditional checking accounts, pay high check cashing fees
and regularly send money internationally. CoinRT enables them to get bitcoin
quickly and easily for one flat fee.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™
is the creation of Fit Pay, Inc., a leading provider of cutting edge payment
technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By
leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to
seamlessly exchange their cryptocurrency for US dollars and store that value on
a contactless payment device that can be used to make purchases at millions of
retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet
App by Genesis Blockchain
Technologies ( GBT)
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