JP 3E Holdings, Inc. Completes Acquisition of Stake in Bloxcross, Inc.

Rhea-AI Summary

JP 3E Holdings, Inc. (OTC: SPZI) has successfully acquired a majority stake in Bloxcross, Inc., a digital assets innovation company. This strategic move aims to accelerate revenue growth in Energy, Agriculture, and Education sectors while enhancing JP 3E's capabilities in commodity shipments and contracts. Diego Baez, CEO of Bloxcross, will join JP 3E's Board and become its new CEO, with John K. Park remaining as Chairman. Baez brings extensive experience from top tech and financial institutions. The acquisition leverages Bloxcross's AI-driven digital asset technologies to innovate in global payments and trade finance, positioning JP 3E for significant global expansion in the $10.52 trillion trade finance market.

Positive

• Acquisition of majority stake in Bloxcross, Inc., a digital assets innovation company
• Expected acceleration of revenue growth in Energy, Agriculture, and Education sectors
• Enhancement of capabilities in commodity shipments and contracts
• Appointment of experienced executive Diego Baez as new CEO of JP 3E
• Potential for global expansion in the $10.52 trillion trade finance market
• Integration of AI-driven digital asset technologies for innovation in global payments and trade finance

Negative

• None.

NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (OTC: SPZI), formerly Spooz, Inc., proudly announces the successful acquisition of a majority ownership stake in Bloxcross, Inc. ("BLOX"). Bloxcross is a trailblazing digital assets innovation company, renowned for its groundbreaking platform that revolutionizes global bilateral trade, cross-border payments, and financial applications through advanced blockchain technologies.

This strategic acquisition positions JP 3E to significantly accelerate revenue growth across key sectors, including Energy, Agriculture, and Education. By integrating Bloxcross's expertise, JP 3E enhances its capabilities in commodity shipments and contracts while expanding its global footprint.

Diego Baez, CEO of Bloxcross, Inc., will join the JP 3E Board of Directors (BOD) and assume the role of CEO of JP 3E, with John K. Park remaining as Chairman.

Mr. Baez brings extensive experience from his tenure at leading technology and financial institutions, having held executive roles at Cloudera-Hortonworks, Goldman Sachs, JPMorgan, Citigroup, Lehman Brothers, and Knight Capital, with significant contributions to algorithm trading, electronic trading, and market data systems.

John K. Park, Chairman and CEO of JP 3E Holdings, commented, "We are thrilled to finalize the majority stake acquisition of Bloxcross, Inc. Diego's leadership and strategic insight have already proven invaluable as we accelerate operational and managerial growth."

Diego Baez, CEO of Bloxcross, Inc., and incoming CEO of JP 3E, stated, "We are excited to propel JP 3E to new heights using our AI-driven digital asset technologies to innovate in global payments and trade finance. This partnership opens significant global expansion opportunities, particularly in global trade."

With the global trade finance market achieving $10.52 trillion in 2023, Bloxcross's innovative solutions solidify JP 3E's pivotal role in the industry. This acquisition, driven by synergies between the companies and the vast global market opportunity, sets the stage for JP 3E's future growth.

About JP3E

JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets.

About Bloxcross

Bloxcross is at the forefront of financial technology, specializing in blockchain-based solutions for cross-border payments and trade finance. Dedicated to streamlining global financial transactions, Bloxcross provides secure, fast, and cost-effective services to clients worldwide. To learn more about their groundbreaking solutions, visit: https://www.blox.global/.

Company Contact:

John K. Park, Chairman and CEO
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail:  info@jp3e.com

FAQ

What is the significance of JP 3E Holdings (SPZI) acquiring Bloxcross?

The acquisition allows JP 3E to accelerate revenue growth in key sectors, enhance capabilities in commodity trading, and expand globally using Bloxcross's AI-driven digital asset technologies for innovation in global payments and trade finance.

Who is the new CEO of JP 3E Holdings (SPZI) following the Bloxcross acquisition?

Diego Baez, the CEO of Bloxcross, Inc., will become the new CEO of JP 3E Holdings while also joining the company's Board of Directors. John K. Park will remain as Chairman.

How does the Bloxcross acquisition impact JP 3E Holdings' (SPZI) market position?

The acquisition positions JP 3E to play a pivotal role in the $10.52 trillion global trade finance market, leveraging Bloxcross's innovative blockchain-based solutions for cross-border payments and trade finance.

What sectors does JP 3E Holdings (SPZI) expect to see revenue growth in after acquiring Bloxcross?

JP 3E Holdings expects to accelerate revenue growth across key sectors including Energy, Agriculture, and Education following the acquisition of Bloxcross.