Consistent with Thailand-basically based fully company SYNQA, the firm will employ the $80M investment to ‘deepen its footprint’ in cashless societies in Asia.
778 Total views
42 Total shares
SYNQA, the parent company of OmiseGo beforehand identified as Omise Holdings, raised $80 million in a fundraising round for contemporary cashless fee ventures.
In a June 22 announcement, Thailand-basically based fully fintech company SYNQA acknowledged it had raised $80 million in a Series C funding round led by Siam Industrial Bank subsidiary SCB 10X and the Asia-basically based fully endeavor capital team of workers SPARX. Assorted merchants incorporated the Japan-basically based fully Toyota Monetary Services and products Corporation, Sumitomo Mitsui Banking Corporation, SMBC Accomplishing Capital, and the Aioi Nissay Dowa Insurance Corporation.
Consistent with a press open from SYNQA shared with Cointelegraph, the company will employ the investment to spread cashless alternate suggestions to businesses all the arrangement by Asia. The fintech firm cited digital currency as supreme one resolution among many.
“In cases of social distancing, fintech infrastructure reminiscent of fee gateways are key tools in performing day to day monetary transactions in a like a flash, procure and handy system.”
“There are many merchandise and factors that can abet a society grow to be cashless,” a SYNQA representative acknowledged to Cointelegraph. “Our subsidiaries are increasing contemporary and improved applied sciences and monetary infrastructure to make stronger buyer experiences with seamless fee transfer techniques that might well well also accommodate a cashless society.”
Doubtless enhancements to Toyota Pockets
As correctly as to its efforts in bettering cashless funds, SYNQA has been supportive of Eastern producer Toyota, which launched it had launched a cashless app pockets in November 2019. At press time, no crypto enhance is on hand for the Toyota Pockets.
“The contemporary subsidiary [was] based to particularly meet market demands from enterprises to enhance them of their digital transformation,” the representative steered Cointelegraph. “The group works carefully with enterprises to earn raze-to-raze fintech digital transformation merchandise relish the Toyota Pockets.”
OMG pump and dump raises eyebrows
Cointelegraph reported in Can also that the first day of buying and selling for Ethereum-basically based fully OmiseGo (OMG), the 41st ranked cryptocurrency by market cap, modified into marked by foremost premiums at exchanges including Coinbase. The process resulted in a 200% label lengthen and immediate crash.
On the time of writing, the label of the OMG token is $1.53, removed from its ATH at roughly $25 in January 2018.