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VANCOUVER, BC, Nov. 30, 2021 /CNW/ - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, is pleased to announce that the Company has signed an agreement with Wyre ("Wyre"), a leading fiat-to-crypto and payment infrastructure company.
Wyre leverages blockchain technology to provide easy-to-integrate APIs that enable thousands of developers to bring crypto to the masses. The company has on-ramped over 15 million end-users to their partners and has processed over $10 billion in payments since inception. Wyre has been an active player in the crypto space since 2013, supporting customers in over 100 countries worldwide, and empowering them with seamless access to blockchain technology .
By integrating Wyre's API, Mobilum will gain access to Wyre's ACH payment rails and will have the ability to process automated clearing house (ACH) transactions for US clients on its on and off-ramping platform, giving the company access to the US market
"This strategic partnership will allow Mobilum to finally enter the US market giving the Company access to one of the largest crypto markets in the world," said Mobilum President, Wojciech Kaszycki.
The Company expects to complete the full integration with Wyre's banking rails in Q1 2022.
Mobilum has also upgraded its on-ramp payment processing platform by integrating over 200 acquirers and a banking rails ecosystem for better fraud detection and increased transaction approval rates. The upgrade will give Mobilum global access to banks and merchant accounts and at the same time while reducing implementation times.
"We are very excited about our latest platform upgrade. This will help us combat some of the largest issues facing crypto companies today. We will be able to significantly increase approval rates on transactions, prevent fraud and reduce chargebacks," Wojciech Kaszycki added.
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 digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum has offices in Canada, Hong Kong, Poland, and Estonia. For further information go to Mobilum.com.
Wyre is the leading fiat-to-crypto and payment infrastructure company for the crypto ecosystem. Focusing on developers, the company provides easy-to-integrate APIs which enable thousands of developers to bring crypto to the masses. The company has "on-ramped" over 15 million end-users to their partners and has processed over $10B in payments since inception. "Checkout", Wyre's flagship product, is the world's fastest fiat-to-crypto gateway and has helped hundreds of crypto applications better reach their customers. Wyre has been an active player in the crypto space since 2013, supporting customers in over 100 countries worldwide, and empowering them with seamless access to blockchain technology.
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.
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