Mobilum Technologies Awarded Payment Institution License and Announces Record Monthly Total Transaction Volume of CAD $5.3M in July
Rhea-AI Summary
Mobilum Technologies Inc. (CSE: MBLM, OTC: MBLMF) reported a record Total Transaction Volume (TTV) of approximately CAD $5.3 million for July 2021, reflecting a 30% month-over-month growth. The company also announced the issuance of a Payment Institution License in Poland, enabling it to perform various payment activities, including cash deposits and transaction executions. CEO Wojciech Kaszycki expressed satisfaction with the ongoing growth strategy.
Positive
- Record Total Transaction Volume of CAD $5.3 million in July 2021.
- 30% month-over-month growth in transaction volume.
- Acquisition of a Payment Institution License in Poland.
Negative
- None.
News Market Reaction – MBLMF
In the trading session that priced this news, MBLMF gained 3.47%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC, Aug. 11, 2021 /PRNewswire/ - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that the Company has generated a record Total Transaction Volume (TTV) of approximately CAD
Mobilum OÜ CEO, Wojciech Kaszycki, commented: "We are very pleased to see significant strength in our total transaction volume month over month as we continue to execute on our growth strategy."
Mobilum Pay LLC, a wholly-owned subsidiary of Mobilum OÜ, has also been issued a Payment Institution License in Poland registered under ID MIP118/2021.
The registration allows Mobilum to engage in the following activities in Poland:
- Accept cash deposits and make cash withdrawals from a payment account
- Execution of payment transactions
- Issuance of payment instruments such as debit and credit cards
- Money remittance and transfer services
"We are pleased to complete our first step to becoming an Electronic Money Institution by registering as a Payment Institution License in Poland," said Kaszycki. "With this first phase of the process completed, the next step is to become a National Payment Institution which will allow Mobilum to engage in worldwide activities."
About Mobilum Technologies Inc.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) a technology driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-digital currency with Mobilum's fully-compliant on-ramp gateway. Mobilum has offices in Canada, Hong Kong, Poland and Estonia. For further information go to Mobilum.com.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE Mobilum Technologies Inc.