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VANCOUVER, BC, April 14, 2021 /CNW/ - TechX Technologies Inc. ("TechX'' or "the Company'') (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that its portfolio company, Catalyx Exchange ("Catalyx"), has achieved significant growth in trading volume, daily users, deposits and revenue in the first quarter ended March 31, 2021.
Catalyx.io, Canada's premier cryptocurrency exchange, is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology.
Catalyx announces the following key metrics from March 2021:
Trading volume increased 91% Month-over-Month (MoM) from C$14.88 million in February 2021 to C$28.44 million in March 2021.
Deposits increased by 163% MoM from C$3,465,636 to C$9,119,407.43.
Revenue increased by 76% MoM from C$156,754.48 to C$275,540.43.
Catalyx also announced the following key metrics for Q1 2021 (for the three months ended March 31, 2021) compared to Q4 2020 (for the three months ended December 31, 2020):
Trading volume increased 1,542% Quarter-over-quarter (QoQ) from C$2.88 million in Q4 2020 to C$47.3 million in Q1 2021.
Number of transactions increased 3,642% QoQ from 1,191 transactions in Q4 2020 to 44,583 in Q1 2021.
Deposits increased by 1,050% QoQ from C$1.2 million to C$13.8 million.
Revenue increased by 545% QoQ from C$82,172.97 to C$529,725.03.
"We are very pleased with our ongoing growth, which is reflected in our numbers from January, February and now, March," said Catalyx CEO, Jae Park. "Catalyx continues to focus on user acquisition and revenue growth and we expect to see our trading volume, deposits and revenue continue to grow along with the booming market."
"Once again, Catalyx has revealed exciting growth numbers for last month, which came at no surprise considering the ever-growing excitement surrounding crypto, along with the exchange's superior features such as having the tightest spreads, fully featured order book and the lowest price for bitcoin in Canada," said TechX CEO, Peter Green. "The results from the first quarter of 2021 have been extremely encouraging and we look forward to seeing an even bigger increase across the board when those results come in at the end of the month. It's clear that Catalyx is the top crypto exchange in Canada and we are very happy to be partnered with them."
About TechX Technologies Inc.
TechX Technologies Inc. is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
About Catalyx Exchange
Catalyx is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, Catalyx has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions to provide their users with a trusted, secure platform. Catalyx is the first Canadian exchange with its own stablecoin called CADX and supports 40+ cryptocurrencies.
On Behalf of the Board,
TECHX TECHNOLOGIES INC.
Peter Green, CEO
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 TechX Technologies Inc.
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