GreenBox POS (NASDAQ: GBOX) announces the appointment of Robert Houghton as Chief Technology Officer. With over 25 years of experience in technology leadership, Houghton previously held the same role at MovoCash, Inc. His expertise is expected to drive improvements in GreenBox's payment processing technology and integrate acquisitions effectively. CEO Fredi Nisan emphasized Houghton’s leadership as crucial for the company's growth strategy, aiming to enhance their blockchain solutions and create sustainable value for shareholders.
GreenBox POS (NASDAQ: GBOX), a financial technology company, has reported processing over $1 billion in transaction volume in 2021, achieving this in August, nearly five times its total processing volume for 2020. Key drivers include the launch of its Generation 3 technology, the expansion of its ISO and agent network, and acquisitions of ChargeSavvy and Northeast Merchant Services. CEO Fredi Nisan highlighted this milestone as a testament to the company’s blockchain payment technology and future growth potential.
GreenBox POS (NASDAQ: GBOX) has commenced revenue sharing and bank licensing cooperation with Transact Europe ahead of the anticipated acquisition closure. Initially announced on July 19, 2021, the acquisition is pending regulatory approval from the Bulgarian National Bank. The collaboration enables GreenBox to utilize Transact Europe's banking capabilities for card issuance and processing, enhancing its offerings in Europe. Management is incentivized to boost processing volume with an equity earnout based on monthly volume milestones.
GreenBox POS (NASDAQ: GBOX) has chosen Miami as the headquarters for its new stablecoin spinoff, Coyni. The decision aligns with Miami's growing reputation as a fintech hub, highlighted by increasing acceptance of cryptocurrency, including city workers receiving part of their pay in Bitcoin. CEO Fredi Nisan emphasizes Miami's multicultural environment as conducive for rapid adoption of digital currency. The company is currently assessing office locations and appointing the executive team for Coyni, preparing for its upcoming spinoff and IPO.
GreenBox POS (NASDAQ: GBOX) will present at two upcoming virtual investment conferences: the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021, and the BTIG Future of Digital Assets Conference on September 22, 2021. Management will hold presentations and meet with investors during these events. The H.C. Wainwright presentation is scheduled for September 13 at 7:00 AM ET, and the BTIG conference presentation is on September 22 at 3:30 PM ET.
GreenBox POS (NASDAQ: GBOX) reported impressive second-quarter 2021 results, with revenue of $6.4 million, a 178% increase year-over-year. The company processed a record $440 million in transaction volume. Major developments include the deployment of a smart contract stablecoin, COYNI, and the acquisition of Transact Europe, pending regulatory approval. Operating expenses rose to $5.1 million, attributed to stock compensation and R&D costs. Net income stood at $0.0 million, compared to $4.9 million in Q2 2020, while adjusted net income reached $2.0 million.
GreenBox POS (NASDAQ: GBOX) announced a delay in implementing its special dividend series tied to the spinoff company Coyni, focused on smart contract technology. Initially, shareholders were expected to receive 0.30 shares of SpinCo for each GBOX share by August 16, 2021. However, the record date has been postponed as the Company is reassessing strategies and will announce the new date at least 10 days prior to implementation. The Company's innovative blockchain solutions enhance payment processing efficiency for merchant clients.
GreenBox POS (NASDAQ: GBOX) announces its Q2 2021 financial results scheduled for release after market close on August 12, 2021. Management will host a conference call at 4:30 p.m. Eastern time to discuss the results and provide a corporate update, followed by a Q&A session. Participants are advised to dial in at least 10 minutes prior to the call. A playback of the call will be available until November 12, 2021, and a webcast will be accessible on the company's website for 30 days.
GreenBox POS (NASDAQ: GBOX) has announced a shareholder update call scheduled for August 3, 2021, focusing on advancements in blockchain-based payment solutions, including the launch of Coyni, a US dollar denominated smart contract token. For FY2021, the company projects approximately $1.65 billion in transaction volume and $58 million in gross revenues, bolstered by recent acquisitions like ChargeSavvy, LLC. GreenBox aims to enhance its presence in European markets and develop strategic partnerships, while also considering a spin-off of Coyni for potential shareholder benefits.
GreenBox POS (NASDAQ: GBOX) announced a binding MOU to acquire Transact Europe Holdings OOD for EUR 30M, with performance-based earnouts tied to processing volumes. Transact Europe EAD, a regulated EU electronic money institution, brings a robust payment solution portfolio and a projected 2021 EBITDA exceeding USD 5M.
The acquisition will enhance GreenBox's capabilities by providing access to major card schemes and a full EMI license, allowing expansion in the European market and reducing challenges faced in the U.S. GreenBox plans to onboard UK clients post-Brexit.