ALT5 Sigma Reports a Record Month at Over $240 Million in Transaction Volume

Rhea-AI Summary

ALT5 Sigma (NASDAQ:ALTS) reported a record transaction volume of over $240 million for September 2024, representing a 151% year-over-year increase from September 2023. The company's year-to-date transaction volume reached approximately $1.5 billion, with Q3 exceeding $600 million, marking a record quarter. ALT5 Sigma, a fintech company providing blockchain-powered technologies for digital asset services, attributes this growth to realigned sales and marketing efforts, global tradeshow presence, new customer onboardings, and increased flows from existing customers.

The company offers two main platforms: ALT5 Pay, a cryptocurrency payment gateway, and ALT5 Prime, an electronic over-the-counter trading platform for digital assets. In 2023, ALT5 Sigma processed over $1.2 billion in cryptocurrency transactions. The company is also involved in biotech activities, focusing on developing innovative solutions to address the opioid crisis.

Positive

• Record transaction volume of $240 million in September 2024, a 151% year-over-year increase
• Year-to-date transaction volume of approximately $1.5 billion
• Record Q3 with over $600 million in transaction volume
• Processed over $1.2 billion in cryptocurrency transactions in 2023
• Expanded customer base and increased flows from existing customers
• Added staff in customer onboarding/compliance group due to robust pipeline

Negative

• None.

LAS VEGAS, NV / ACCESSWIRE / October 9, 2024 / ALT5 Sigma Corporation (NASDAQ:ALTS), a fintech, providing next generation blockchain-powered technologies for tokenization, trading, clearing, settlement, payment, and safe-keeping of digital assets, released its transaction volume for September 2024.

According to the company, ALT5's transaction volume exceeded US$240 million for the month of September 2024, which represents a year-over-year increase of approximately 151% from the $97 million recorded in September 2023. ALT5's year-to-date transaction volume is approximately $1.5 billion, with Q3 at over $600 million, representing a record quarter for transaction volume.

Vay Tham, CRO of ALT5 Sigma Corporation, exclaimed, "The realignment of our sales and marketing resources has resulted in immediate benefits. $244 million is an all-time record for ALT 5 Sigma. Our presence at global tradeshows, new customer onboardings and increased flows from existing customers combined to make September a record month and the third quarter a record quarter. Visibility into our pipeline continues to be robust such that we have added staff in the customer onboarding/compliance group. At the end of the day, these results and the momentum we have would not be possible without the strong focus and hard work from our team."

About ALT5 Sigma

The Company is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. The Company is one of the constituents of the Russell Microcap Index, as of June 28, 2024.

Launched in 2018, ALT5 Sigma Inc. (a wholly-owned subsidiary of ALT5 Sigma Corporation) is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5 Sigma Inc., through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". ALT5 Sigma Inc. processed over US$1.2 billion in cryptocurrency transactions in 2023.

ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency (s) automatically or to receive their payment in digital assets.

ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named "ALT5 Pro" that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers.

Through its biotech activities, the Company is developing innovative, actionable solutions intended to help end the opioid crisis. The Company is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation's history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

Forward Looking Statements

This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the profitability and prospective growth of ALT5's platforms and business, that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5's services, and technology challenges for future growth or expansion. This press release also contains statements and links relating to risks that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as "continue", "expect", "intend", "will", "hope", "should", "would", "may", "potential", and other similar expressions. Such statements reflect the Company's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in the Company's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Media Contact Investor Relations
IR@alt5sigma.com
1-800-400-2247

Contact Information

Investor Relations
Investor Relations
ir@alt5sigma.com
1-800-400-2247

SOURCE: ALT 5 Sigma

View the original press release on accesswire.com

FAQ

What was ALT5 Sigma's (ALTS) transaction volume for September 2024?

ALT5 Sigma (ALTS) reported a record transaction volume of over $240 million for September 2024.

How much did ALT5 Sigma's (ALTS) transaction volume increase compared to September 2023?

ALT5 Sigma's (ALTS) transaction volume increased by approximately 151% compared to September 2023, which recorded $97 million.

What is ALT5 Sigma's (ALTS) year-to-date transaction volume for 2024?

ALT5 Sigma's (ALTS) year-to-date transaction volume for 2024 is approximately $1.5 billion.

How much did ALT5 Sigma (ALTS) process in cryptocurrency transactions in 2023?

ALT5 Sigma (ALTS) processed over $1.2 billion in cryptocurrency transactions in 2023.