Mobilum Technologies Inc has provided a corporate update on recent strategic initiatives which included its US market entrance and the launch of an updated over-the-counter (OTC) crypto trading desk.
In a statement, Mobilum's interim chief executive officer Wojciech Kaszycki commented: "I am very pleased with the company's focus in remaining steadfast on growing out our strategic initiatives, partnerships and product optimization, and pleased to share some of our recent efforts."
Mobilum continues to focus its efforts on leveraging its digital payments infrastructure with large partnerships and expects its transaction volume pipeline to grow in the coming quarter.
READ: Mobilum Technologies successfully launches its fiat-to-crypto on-ramp widget on BTSE exchange and JoomAce platforms
On December 1, 2021, Mobilum signed an agreement with leading fiat-to-crypto and payment infrastructure company Wyre to help accelerate the company's US expansion. 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 U.S. clients on its on- and off-ramping platform. The full integration with Wyre's banking rails is anticipated to be completed in the first quarter of 2022.
On October 26, 2021, Mobilum announced the launch of its updated OTC trading desk website, which has generated approximately $20-million in total transaction volume to date for the company. Mobilum's OTC trading desk is designed exclusively for high-net-worth individuals and institutions looking to execute large-volume orders of bitcoin and other cryptocurrencies for transactions above $50,000.
Mobilum has onboarded over 70,000 new users since signing a previously announced contract for services rendered for its on-ramp service offering. The company anticipates onboarding up to 600,000 new users through the contract.
The company expects to recognize up to an estimated $1.9 million in revenue after the onboarding process has been completed, in addition to providing these customers value-add services within the Mobilum on- and off-ramp ecosystem.
On October 4, 2021, Mobilum announced an on and off-ramp integration with Polygon, one of the world's largest blockchain protocols and frameworks for building and connecting ethereum-compatible blockchain networks.
The company has also recently seen a doubling of its user base through executing on commercial contracts and onboarding of new partners and users. On December 6, 2021, the company announced the successful integration and launch of its fiat-to-crypto on-ramp widget on the BTSE exchange and JoomAce platforms.
On October 1, 2021, Mobilum announced the beta test launch of its proprietary automated high-frequency trading multimarket engine to facilitate smart cryptocurrency trading.
Strategic leadership changes
Also on October 1, 2021, the company announced that it had hired Piotr Majka as its chief trading officer to oversee the engine and trading strategies. Majka is a results-oriented capital markets expert with over 20 years of experience in finance including 15 years as a senior executive for global and local banks.
Majka was responsible for projects for the largest Polish mutual and pension funds, and US and U.K. investment banks, including MSCO, ML, GS, CLSA, KBC and UBS. He was also one of the first in the industry to successfully introduce DMA and ALGO trading to institutional clients.
Since Majka joined the team, he has continued to play an instrumental role in building out the company's algo trading platform including a market-making strategy. The company is quickly seeing a lot of interest from strategic partners in leveraging this platform for its capabilities.
On December 3, 2021, Mobilum announced that Kaszycki would be moving into the role of interim chief executive officer. The company also announced that Heidi Gutte had been appointed chief financial officer. Gutte holds the professional designation of chartered professional accountant (CPA, CGA), and is a member of Chartered Professional Accountants of British Columbia and Canada. She has had extensive experience as a controller and chief financial officer of numerous publicly traded and private corporations in several industries.
Mobilum Technologies is a technology-driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies. Its 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.
Contact the author at jon.hopkins@proactiveinvestors.com