Vancouver, BC – May 25, 2021 – Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) (“Lynx” or the “Company”) is pleased to announce that it is taking the first key steps in creating a unified payments platform across Southeast Asia and Oceania by integrating the operations of companies in which it has recently acquired a controlling interest: Vasu International Payment Solutions Inc. (“Vasu”), Payright Pte. Ltd. (“Payright”), Arkin Technologies Pty. Ltd. (“Arkin”), and Direct Agent 5 (“DA5”).
The DA5 digital wallet and mobile app will now be integrated into the product offerings of Arkin and Payright. The DA5 mobile app for Android and iOS offers a large suite of financial technology services to its users; these services range from sending and receiving funds, bill payment, and cash in and cash out at any of DA5’s 2000+ locations in the Philippines. The DA5 app was designed with over 15 years of experience and historical remittance cash flow data in the local Philippine market, combined with a strong practical knowledge of what is required to digitize cash in the region to provide everyone access to the financial services they require for economic growth. By connecting to the DA5 mobile app, Arkin customers in Australia can easily send remittance payments to family in the Philippines in one single network. Additionally, DA5 is integrating to Right Choice Payments Pte. Ltd. (“Right Choice”), Payright’s licensed Major Payment Institution partner in Singapore, which will further connect all of Lynx’s operations into a single payment platform.
“This is a major building block in our strategy to construct a single digital payment platform that any business, local or international can connect to and access multiple payment options across multiple countries in the region,” stated Mike Penner, President & CEO, Lynx. “By successfully linking the Philippines, Australia and Singapore together we will now be able to add new revenue streams in each of these markets, creating new growth opportunities”
Another example of the power of Lynx’s strategy and technology layer is that the DA5 app will also be powering cryptocurrency transactions in Australia where Arkin is a licensed Cryptocurrency Exchange Services Provider. DA5 currently has an application with Banko Sentral Pilipinas (the central bank of the Philippines) for a Virtual Currency Exchange license which, if successful, will expand the Company’s cryptocurrency services even more.
“In my 14 years of experience in financial technology and payments across Asia and the Middle East, I have not seen a solution that has the vision and capability to meet the local, regional and international requirements for digitizing finance like what is being achieved at DA5. We are excited to be able to deploy our resources, partnerships and family of operating companies to scaling this solution across the region,” added Chris Aldaba, President, Asia, Lynx Global.
Arkin is also addressing the remittance demand for Australians to send funds to other countries in the region, such as Vietnam and Mainland China. The team at Vasu, who have strong relationships across the region, has been able to bring new partners in different countries to the network so that Lynx Global network users can easily move funds across multiple countries, further expanding the geographic coverage of the platform.
Finally, as part of the Company’s strategy to build a single unified payment platform, it is changing the name of Arkin to DA5 (Australia) to reflect the expansion of the DA5 service throughout the region, and globally.
ABOUT LYNX GLOBAL DIGITAL FINANCE:
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions and other B2B industry partners by way of integration to the Lynx digital payment platform. The Company’s payment solutions are powered by a broad suite of payment technologies and services. The Company has targeted banking and fintech relationships in South East Asia and Oceania, a region with a population of greater than 650 million. By working with selected banking and/or licensed EMI partners, the Company will be able to offer a digital payment platform with a full suite of payment solutions, which may include merchant acquiring solutions; card issuing; remittance and forex; and custodial digital asset services, including digital wallet services. The Company seeks organic growth while investigating potential strategic acquisitions that may contribute critical technology applications, additional services, and revenue streams, and that can complement or enhance existing offerings and potentially increase or expedite the path to future profitability. While Lynx believes that significant near-term opportunities exist for the Company’s strategic initiatives, there can be no assurance that goals and objectives will be reached or that any such underlying efforts or agreements will provide fruitful or positive outcomes should they be implemented.
SOURCE: Lynx Global Digital Finance Corporation