- FEXD is a company working to stay at the forefront of fintech innovations by using the most advanced financial technologies in its platforms and applications
- The company is seeking to acquire and merge with high-growth global fintech organizations that leverage these advanced financial technologies as part of its goal to develop a global fintech ecosystem
- Among these technologies are crypto and the blockchain
- Cryptocurrencies have been known to facilitate faster and lower-cost transactions, increase financial inclusions, and store value, especially in emerging economies where unpredictable inflation substantially weakens the value of their national currencies
- FEXD is committed to supporting the progress of developing countries and cultures, with cryptocurrencies playing a crucial role in helping the company achieve this goal
In a May 2022 report, rating agency Moody’s noted the highest cryptocurrency adoption was among lower-rated sovereigns. A summary of the report (https://ibn.fm/vUIRX) attributed this to the fact that digital currencies can facilitate “faster, more convenient, and lower-cost transactions for households and increase financial inclusion, benefitting countries where large parts of the population lack banking infrastructure.” Moreover, the summary continued, “improved access to cheaper and more reliable internet data, mobile phone usage, and, more broadly, the trend of increased digitization will also drive cryptocurrency adoption in many lower-income emerging markets.”
Moody’s assessment is part of the consensus of opinions around cryptocurrency. Experts and observers alike agree that global crypto adoption has been dominated by emerging markets, with lower-middle and upper-middle-income economies dominating the top 20 entries of the most recent Global Crypto Adoption Index, The index is an objective measure developed by Chainalysis showing countries with the highest level of cryptocurrency adoption (https://ibn.fm/IjEyn). Only the United States and the United Kingdom were outliers. Per Chainalysis, users in lower-middle and upper-middle-income nations often “rely on cryptocurrency to send remittances, preserve their savings in times of fiat currency volatility, and fulfill other financial needs unique to their economies.”
Many people in emerging economies regard cryptocurrencies as an important store of value, a means of exchange, a unit of account, and an alternative to otherwise weak traditional currencies. With the appeal of some national currencies waning, according to Financial Times (https://ibn.fm/MojIM) due to “unpredictable inflation and fast-moving exchange rates, clunky and expensive banking systems, financial restrictions, and regulatory uncertainty, especially the existence or threat of capital controls,” cryptocurrencies are becoming a boon for many users.
Behind the success of cryptocurrencies is the blockchain, which allows these digital currencies to operate without a central authority. Incidentally, McKinsey ranked blockchain second in its list of seven key technologies projected to drive fintech development and shape the competitive landscape of finance over the current decade. The analysis hailed blockchain as a potential disruptor of established financial protocols, further noting that stakeholders have taken a keen interest in this space, elevating the potential of the technology (https://ibn.fm/wumBw).
One such stakeholder is Fintech Ecosystem Development (NASDAQ: FEXD), a company working to stay at the forefront of fintech innovations by using blockchain, crypto, cloud computing, and artificial intelligence, some of the most advanced financial technologies, in its platforms and applications. FEXD is guided by the vision to develop financial service applications that allow its customers to move money easily whilst making it more affordable for people to conduct transactions without touching cash.
The company believes this is a moment in history when mobile money services are needed in a world moving to digital money and mobile transactions that are seamless across international borders. And with cryptocurrencies conveniently facilitating cross-border mobile transactions, even for users whose governments have restricted the movement of money out of their countries, FEXD’s focus on this advanced financial technology appears strategic.
FEXD is seeking to acquire and merge with high-growth global fintech organizations that leverage some or all of these advanced financial technologies as part of its goal to develop a global fintech ecosystem, ultimately significantly growing its annual revenues (https://ibn.fm/O60yV). The company aims to provide services that are largely unavailable in many emerging economies, which are home to the largest concentration of the unbanked and underbanked. These populations, nonetheless, represent a large untapped market for FEXD.
“We’re committed to supporting the progress of developing countries and cultures. We have a keen understanding of market needs in many regions of the world where cellphones are in wide use but mobile money services are not yet available,” reads FEXD’s website reads (https://ibn.fm/NFh2a). By channeling its resources and attention into these markets, the company hopes to “ensure that humanity has a path forward from an unhygienic cash system; to reduce poverty; improve lives of the unbanked; offer security and saving options for migrant workers;” and more. Owing to their documented advantages, crypto and blockchain technologies are set to play an integral role in driving FEXD’s vision.
For more information, visit the company’s website at www.FintechEcoSys.com.
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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