x min read

Kinerjapay Corp (OTCMKTS:KPAY) to Launch the First Coin Exchange in Southeast Asia

Kinerjapay Corp (OTCMKTS:KPAY) to Launch the First Coin Exchange in Southeast Asia
Written by
Jim Bloom
Published on
February 14, 2018
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook
InsidrFinancial

Kinerjapay Corp (OTCMKTS:KPAY) has finally begun to gather steam again. Given the recent fall in its prices by over 50%, the firm has reacted positively, announcing a new business venture which promises the possibility of major revenue inflow in coming years, while also promoting its already existing business ventures in the process. In this piece, we provide you with details of KPAY and its plan to take advantage of the cryptocurrency markets.Here is the stock’s price movement in the last year: KPAY Daily ChartCompany ProfileKinerjaPay Corp. was established in February 2010 with its head office situated in Medan, Indonesia. The firm operates a secure digital payment and e-commerce platform and engages in the development, manufacture, and sale of solar photovoltaic elements. Using its convenient payment alternatives on the secure web portal and mobile applications, KinerjaPay allows customers to without difficulty "Buy, Pay and Play” when shopping on their platform. The firm plans to branch out into other e-commerce ventures such as online gambling, travel and delivery services.For more information, you can check out our post here.Recent DevelopmentsIn January 2018, KinerjaPay announced the details of its token sale plan. According to the announcement, Blockchain Industries, Inc. will guide KinerjaPay in the switch from using an email payment system to a token payment platform and will join with them in launching the first coin exchange in Southeast Asia.Operating in the largest economy in Southeast Asia's, KinerjaPay has plans to raise as much as $7.0 million from its imminent Initial Coin Offering (ICO). The ICO is to be open to private and institutional investors and is to be referred to as KCOIN, the firm's own proprietary virtual currency.KCOIN is already being traded by users of its platform for some activities such as coin trading, gaming, multilevel marketing and online shopping. It is anticipated that after the ICO, KCOIN will be utilized as KinerjaPay's cryptocurrency on some of Asia’s largest cryptocurrency exchanges.Chief Executive Officer of KinerjaPay, Edwin Witarsa explained that management believes that this step would be game-changer move as the firm advanced to a much more enhanced digital system. The development and launch of KCOIN will provide a means for the firm to expand its international reach in an effective yet efficient manner all while promoting its one of its goal of a global cashless society.To boost the transaction volume of KCOIN to be at par with other cryptocurrencies, KinerjaPay intends to set up its international trading platform, KryptoPay.The firm has an agreement with Blockchain Industries which is in collaboration with Global Fintech Consultants, to build and launch the cryptocurrency exchange in Southeast Asia. As payment for this service, Blockchain Industries is to be given a million KinerjaPay shares for its role in developing and operating the exchange.Chief Executive Officer of Blockchain, Patrick Moynihan outlined that KinerjaPay is a front-runner in the digital payment and e-commerce worlds, and Blockchain Inc. was already looking forward to working with them to launch the first coin exchange in Southeast Asia set up to service Indonesia as well as its neighboring countries. The ownership of such an exchange was expected to present a new and very potent revenue opportunity for both companies.The proceeds from KCOIN and the usage of extra KCOINS possessed by the companies will radically increase KinerjaPay's presently high sales growth. The conclusion of the ICO will raise approximately $20.0 million in cash and other assets for the firm. KinerjaPay will further extend its reach into e-commerce in the international market with the addition of multiple supplementary platforms, such as KryptoMall and KryptoGames, to its collection of crypto-based platforms.Financial PerformanceThe firm performed admirably in the last financial year, recording average revenue per user of $20.8 million, rising by 1775 from its $7.5 million revenue in the previous period.Gross merchandise value was $2.84 million and 328% jump from $0.6 million in 2016.The drop in marketing in expenses from $0.36 million to $0.2 revealed increasing efficiency while operating expenses only rose by a mere $12,000 in the new year. All this is more impressive given that net income increased to $0.87 million from $0.82 in 2016.The firm is not too highly leveraged as a large portion of its liabilities are current debts which are not likely to accrue high interests, if at all. Its liquidity of 0.5 is just around the industry average, which is no cause for concern for stakeholders or investors.ConclusionKPAY has ventured into a high-risk, high reward market which may cause concern for investors. However, the firm’s attitude to innovation and the recent success of other ICOs is a pointer that it may just be on the verge of a breakout.We will be updating our subscribers as soon as we know more. For the latest updates on KPAY, sign up below!Disclosure: We have no position in KPAY and have not been compensated for this article.

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.