JanOne Inc. has announced intentions to acquire a leading blockchain financial tech provider. The deal, set for closure by May 13, 2024, riding upon regulatory compliance and prerequisites, could potentially position JanOne Inc. as a powerhouse in the blockchain financial market.
The soon-to-be acquired fintech company, established in 2018, is recognized for its unique blockchain technologies. It runs a digital asset trading platform and a diverse currency payment portal.
JanOne’s strategic blockchain fintech acquisition
The potential merging of these blockchain technologies into JanOne’s offerings is expected to introduce groundbreaking solutions and spark synergies between their services.
This fintech company’s payment portal offers absolute currency flexibility, facilitating global transactions and conversions among a variety of currencies. This platform is designed primarily for verified international merchants and implements a robust security system to safeguard transactions.
In addition, the company’s digital asset trading platform serves as a hub for crypto trading, offering a secure environment for transactions with digital currencies such as Bitcoin, Ethereum, and Ripple and traditional currencies like the US Dollar, Euro, Yen, etc.
The acquisition intends to leverage the fintech company’s diverse currency platform to transform international merchant business operations, making transactions more efficient, secure, and profitable.
The fintech firm’s revolutionary solutions have significantly altered the payment processing sector by reducing risks and eliminating the costs of credit card reversals. JanOne’s financial backing is anticipated to encourage the fintech firm’s global expansion and sustainable growth.
The fintech firm’s president views the acquisition as a pivotal moment in the company’s corporate progression, expecting JanOne’s support to unlock new growth opportunities.
On the closing of the acquisition, JanOne will entirely own the operations of the blockchain financial tech provider. Existing shareholders will gain around 19.9% of JanOne’s common stocks and 34,207 shares of non-exchangeable preferred stocks.
