SRAX SELECTS XDEFI AS WEB3 WALLET PARTNER, ENABLING SECURE ACCESS TO DIGITAL ASSETS FOR ACTIVE EQUITY INVESTORS
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The partnership between SRAX Inc. and XDEFI could potentially create a significant shift in the way equity investors interact with decentralized finance (DeFi) and Web3 applications. The integration of a multichain wallet into SRAX's Sequire platform may drive increased adoption of DeFi services among traditional investors, considering the current user base of over 230,000 active users reported by XDEFI. Additionally, the promise of airdrops could incentivize user engagement and loyalty, potentially leading to an increase in platform activity and data collection opportunities for SRAX.
It's important to note that the $5 billion in airdrops distributed in 2023, with an anticipated increase to $10 billion in 2024, underscores the growing relevance of token-based incentives in the digital asset space. These figures suggest a trend that could attract more investors to SRAX's platform, seeking to capitalize on similar opportunities. The impact on SRAX's business model and its stock could be substantial if the partnership leads to increased user acquisition and retention.
The strategic alliance between SRAX and XDEFI marks a convergence between traditional financial markets and the emerging Web3 space. By enabling access to over 200 blockchains, SRAX is positioning itself at the forefront of financial technology innovation. This move could potentially open up new revenue streams for SRAX by attracting a wider array of issuers and investors interested in the intersection of equity markets and blockchain technology.
Furthermore, the airdrop mechanism not only serves as a marketing tool but also introduces traditional investors to the token economy. This could lead to a broader understanding and acceptance of tokenization as a component of investment strategies. The long-term implications for the financial technology industry could include increased standardization of token-based rewards and a shift in how investor relations are managed within public companies.
The selection of XDEFI as a Web3 wallet partner by SRAX Inc. reflects a growing trend of traditional finance embracing cryptocurrency solutions. XDEFI's status as a multichain wallet facilitates a bridge between various blockchain ecosystems, which is crucial for fostering interoperability and user convenience. The ability to access a diverse range of decentralized applications and assets could position SRAX's Sequire platform as a competitive player in the market for investor intelligence and communication tools.
However, the adoption of such technologies also brings potential risks, including security concerns and the volatility associated with cryptocurrencies. The success of this partnership will largely depend on the robustness of XDEFI's wallet security and the stability of the $XDEFI token's value. Stakeholders should monitor the integration process closely and assess the impact of these airdrops on the perceived value of SRAX's offerings.
Los Angeles, March 05, 2024 (GLOBE NEWSWIRE) -- Los Angeles, [5 March 2024] - SRAX Inc. (OTC: SRAX), a financial technology company that unlocks data and insights for publicly traded companies through its SaaS platform Sequire, today announced it has selected XDEFI as its Web3 wallet partner. XDEFI is a pioneering multichain cryptocurrency wallet.
The partnership will enable SRAX’s network of active equity investors to access decentralized applications and assets spanning 200+ blockchains, seamlessly and securely. In addition, SRAX clients who download the wallet will be eligible for airdrops in $XDEFI tokens and many future token airdrops. In 2023, over
The SRAX investor intelligence and communications platform, Sequire, tracks a global network of active investors’ buying and selling behaviors, enabling public companies to leverage those insights to acquire shareholders and engage with them.
The XDEFI multichain cryptocurrency wallet, with over 230,000 active users, provides access to every application, asset, and NFT across every major blockchain ecosystem, including Ethereum, Bitcoin, THORChain, Cosmos, Solana, and TRON.
Emile Dubié, CEO of XDEFI, said: “Our partnership with SRAX represents a significant leap forward, as it equips active equity investors with the tools they need to access decentralized finance and explore new investment opportunities. We believe this will spur DeFi and Web3 adoption, ushering in a new stream of capital into the ecosystem. We are thrilled to be working with Chris and the SRAX team on this groundbreaking project.”
Christopher Miglino, Founder and CEO of SRAX, said: “We work tirelessly to drive value and new opportunities for the issuers on the Sequire platform and the investors who participate in our events. XDEFI represents a multichain wallet, and we are proud to partner with them to bring the world of Web3 to our users.”
About SRAX
SRAX (OTC: SRAX) is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors' behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.
About XDEFI
XDEFI is a pioneering multichain cryptocurrency wallet with 230,000+ active users. XDEFI users have access to every application, asset, and NFT across major blockchain ecosystems such as Ethereum, Bitcoin, THORChain, Cosmos, Solana, and NEAR. In the 6 months to February 28, 2024,
Install XDEFI: https://go.xdefi.io/sequire
Contact:
Kevin Beardsley, COO, XDEFI
info@xdefi.io
Contact:
Investor Relations, SRAX
investors@srax.com
SRAX, Inc., a technology company, focused on enhancing communications between public companies and their shareholders and investors in the United States. The company offers Sequire, a Saas platform that allows issuers to track their shareholders' behaviors and trends, then use data-driven insights to engage with shareholders across marketing channels. It also organizes and hosts investor conferences within the micro and small- cap markets. The company markets and sells its services through its in-house sales and marketing team. The company was formerly known as Social Reality, Inc. and changed its name to SRAX, Inc. in August 2019. SRAX, Inc. was founded in 2009 and is headquartered in Westlake Village, California.
Cautionary Statement Regarding Forward-Looking Information:
This news release contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as expect, anticipate, intend, plan, believe, seek or will. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in our business, and our need for future capital. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in SRAX's periodic reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2021, its Quarterly Reports on Form 10-Q as well as and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.
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