#CryptoCorner #Podcast 623: #Stocks discussed: (OTC: $SFTBY) (NasdaqGS: $OSTK) (NasdaqCM: $EQOS)
#CryptoCorner #Podcast 623: #Stocks discussed: (OTC: $SFTBY)
(NasdaqGS: $OSTK) (NasdaqCM: $EQOS)
SoftBank
Invests $200M in Series B for Brazil’s Mercado Bitcoin Exchange, tZERO Partners
with NYCE Group, and EQONEX Reports Financials for Fiscal 2021
Point Roberts, WA, Delta BC July 1, 2021
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Stocks discussed: (OTC:SFTBY)
(NasdaqGS:OSTK) (NasdaqCM:EQOS)
SoftBank Group (OTC:SFTBY) has invested $200 million in a
Series B round for Brazilian Bitcoin (BTC) exchange Mercado Bitcoin,
according to CoinDesk. This is the largest Series B
round in Latin American history as well as SoftBank’s largest investment in a
Latin America crypto company. SoftBank Group CEO Marcelo Claure said:
“We’ve
been impressed by 2TM Group’s (Mercado Bitcoin’s parent company) understanding
of the Brazilian ecosystem, as well as their contribution to the evolving
regulatory framework in Brazil, all of which have positioned it at the
forefront of the Latin American blockchain revolution and as a defining player
in the cryptocurrency explosion in Brazil.”
tZERO,
the blockchain arm of Overstock
(NasdaqGS:OSTK) has partnered with real estate crowdfunding
fintech firm NYCE Group, Inc. The latter was founded by FC Barcelona soccer
player Martin Braithwaite and entrepreneur Philip Michael with the aim of
creating “100,000 millennial high-net-worth stakeholders of color by 2030
through access to its robust real estate portfolio.” The partnership is
intended “to digitize approximately $18 million of equity interest in NYCE,
once they are issued, subject to regulatory approvals, in the company’s
upcoming Regulation A+ offering.” Philip Michael, CEO of NYCE, said:
“Through
our partnership with the leader in liquidity for digital securities, tZERO, we
are excited to provide investors with liquidity optionality.”
EQONEX Group (NasdaqCM:EQOS), recently rebranded from Diginex
Limited, has reported its financial results for the
fiscal year ended March 31, 2021. Highlights include its being the first
company with a cryptocurrency exchange to be listed on Nasdaq in October 2020,
and a balance sheet of $52.1 million with no interest-bearing debt as of March
31, 2021. The company’s CEO Richard Byworth said:
"This
was a watershed year in which we launched our core business line, the EQONEX
cryptocurrency exchange, and became the first company with a cryptocurrency
exchange to list on Nasdaq. We devoted substantial time and resources towards
bootstrapping volumes on EQONEX Exchange to a level where we could begin
generating revenue at the very tail end of fiscal year 2021. While daily
trading volumes grew to US$15.9 million by March 2021, we have seen this
significant growth trend continue with daily volumes reaching in excess of
US$180 million in June 2021 month-to-date, a significant portion of which are
fee paying volumes."
Sam
Mowers, Investorideas
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