Computer scientists and IT developers across the world have continued to maintain their stance on the future of money being in cryptocurrencies and with significant proof.
With Bitcoin having been the forerunner to other cryptocurrencies and having led the market to amazing highs, other market players begun looking into cryptocurrencies and exploring the unlimited options and possibilities the digital currencies had to offer. During this period, the researchers realized that blockchain in itself would provide solutions to some of the most pressing issues across the globe such as transparency and accountability, issues which governments have been unable to solve for years. Moreover, the issue of decentralization was also integral to the developers of these platforms and it too was dealt with therein.
Since then, firms pioneered by computer scientists and other developers have ridden on this to create platforms which provide solutions to different industries across the spectrum. Their goal has been well laid out: find out a way in which blockchain will make things faster at the same time making it easier to carry out the operations which firms currently carry out but for longer and at high transaction costs.
One such player is APPx Group Holdings Inc (CNSX:APPX).
Through their leader, the firm has been a crusader for blockchain based solutions throughout the industry, with it operating within the fintech segment as well as in telecommunications. Through this, APPX has built an entire portfolio of platforms which it assists by providing solutions to. The firm has become a force within the industry, growing both in terms of operations and workforce over the past few years and now becoming among the newest entrants into the Canadian Securities Exchange.
The firm’s continued outlook towards providing quality solutions to their clients has become one of the things its clients look forward to. This positive outlook has been factored in in their share price which currently stands at $.18 leading the firm to a market capitalization of over $18.5 million. Presently, a daily average of 1.5 million shares are traded by the firm’s shareholders over the first two days of trading.
All in all, it is expected that the firm will continue to rise over the coming future. As such, we opted to take a look at the past operations of the firm so as to establish what will be the drivers of this surge in share price.
History of APPX
APPx Group Holdings, Inc is a Montreal-based firm which was founded back in 2014 as APPx Crypto Technologies Inc, a name which came to change earlier this year.
The firm engages in a myriad of activities within the technology and telecommunications sector with products and services within blockchain, crypto, fintech, and telecommunications. It engages in blockchain, software development, and network architecture and management. Furthermore, their venture into cryptocurrencies has led them into the mining space with the firm engaging in cryptocurrency mining as well as know your customer and transaction as a means to ensure anti-money laundering and compliance requirements are met.
Two key things have happened recently for APPX: the firm was listed on the Canadian Securities Exchange and acquired Santos Torres Ltd. In addition to this, the firm also brought in new members to their board in a bid to work on their business strategy. Let us have a look at each of these.
The Newest Listing
APPx Group Holdings Inc is now the most recent firm to list on the Canadian Securities Exchange.
This follows the firm meeting some of the requirements it had set for itself prior to listing such as having over 25 employees, acquiring over 300 ASIC miners, setting up an office in Montreal which can host up to 200 people, increasing the capacity of the in-house blockchain development team as well as acquiring trademarks for their brands among others.
The firm’s Co-founder and President, Jay Ruckenstein was particularly excited about the move, stating:
“Getting APPx listed on the CSE was one of our goals from the start. I’m grateful that the time and effort our amazing team put in has paid off… We are looking forward to showing our current and potential investors our vision for the company and for our place in the industry.”
The listing comes at a critical point when APPX expects to grow their operations. The firm expects to have a strong few quarters going forward, therefore, the listing will enable them to obtain the funding necessary for this. Furthermore, as a result, the firm brought in a number of technocrats to their board who are expected to oversee their operations. These individuals: Samir Bandali, Samuel Osei, and Chris Filiatrault will seat in the advisory board and bring with them a strong set of skills believed to be beneficial to the operations of APPX.
In their bid to grow globally, APPX opted to acquire Santos Torres Ltd (STL), a private company which provides sales, marketing and business development services focused primarily within the Asian continent.
Through a transaction which sees APPX acquire all 5 million shares of STL, APPX is now open to growing into the Asian continent. This opens it up to provide their products and solutions across the globe, eventually allowing them to boost their revenue base.
With APPX already growing into Asia while listing their shares in Canada, the firm seems to have met a lot of the goals it had previously set. As such, we believe that the firm will continue with its bullish run over the coming future.
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Disclosure: We have no position in APPX and have not been compensated for this article.