SYNQA, the mum or dad firm of OmiseGo previously often known as Omise Holdings, raised $80 million in a fundraising spherical for brand new cashles
SYNQA, the mum or dad firm of OmiseGo previously often known as Omise Holdings, raised $80 million in a fundraising spherical for brand new cashless fee ventures.
In a June 22 announcement, Thailand-based fintech firm SYNQA said it had raised $80 million in a Sequence C funding spherical led by Siam Business Financial institution subsidiary SCB 10X and the Asia-based enterprise capital group SPARX. Different buyers included the Japan-based Toyota Monetary Companies Company, Sumitomo Mitsui Banking Company, SMBC Enterprise Capital, and the Aioi Nissay Dowa Insurance coverage Company.
In response to a press launch from SYNQA shared with Cointelegraph, the corporate will use the funding to unfold cashless options to companies throughout Asia. The fintech agency cited digital forex as only one answer amongst many.
“In instances of social distancing, fintech infrastructure akin to fee gateways are key instruments in performing daily monetary transactions in a quick, safe and handy method.”
“There are lots of merchandise and elements that may assist a society grow to be cashless,” a SYNQA consultant mentioned to Cointelegraph. “Our subsidiaries are growing new and improved applied sciences and monetary infrastructure to boost buyer experiences with seamless worth switch programs that will additionally accommodate a cashless society.”
Attainable enhancements to Toyota Pockets
Along with its efforts in enhancing cashless funds, SYNQA has been supportive of Japanese producer Toyota, which introduced it had launched a cashless app pockets in November 2019. At press time, no crypto help is on the market for the Toyota Pockets.
“The brand new subsidiary [was] based to particularly meet market calls for from enterprises to help them of their digital transformation,” the consultant advised Cointelegraph. “The group works intently with enterprises to develop end-to-end fintech digital transformation merchandise just like the Toyota Pockets.”
OMG pump and dump raises eyebrows
Cointelegraph reported in Might that the primary day of buying and selling for Ethereum-based OmiseGo (OMG), the 41st ranked cryptocurrency by market cap, was marked by vital premiums at exchanges together with Coinbase. The exercise resulted in a 200% value improve and quick crash.
On the time of writing, the value of the OMG token is $1.53, removed from its ATH at roughly $25 in January 2018.