Vancouver, BC – March 8, 2021 – TechX Technologies Inc. (“TechX” or “the Company”) (CSE:TECX) (OTC:TECXF) (FRA: C0B:FF), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that its initial investment in CatalX CTS Ltd. (“CatalX”) has proven to be an early success. CatalX achieved significant growth in trading volume, daily users, deposits and revenue in February 2021 compared to the previous month.
CatalX, which is Canada’s premier cryptocurrency exchange, is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology.
CatalX announced the following key metrics from February 2021 , compared to January 2021 :
Trading volume increased 271% MoM from $4,014,760 in January 2021 to $14,886,305 in February 2021
Monthly transactions increased by 2,281% from 1,012 to 24,091
Daily average users increased 75% MoM from 16.41 to 28.64
Deposits increased by 182% MoM from $1,229,974 to $3,465,636
Revenue increased by 61% MoM from $97,430 to $156,754
CatalX also shared the key metrics for the first six days of March 2021 :
Trading Volume: $7,985,884
Daily average trading volume: $1,330,980
Daily average deposits: $740,823
“We are ecstatic about our February growth, which has not only met but exceeded our initial expectations, but our month-to-date March numbers have exponentially grown” said CatalX CEO Jae Park . “CatalX has been primarily focused on working towards becoming the first regulated exchange in Canada , and now we’ve had the opportunity to shift our focus toward user acquisition and revenue growth with the investment from TechX has already proven to be a huge success. We look forward to sharing our numbers in the coming months.”
“We are very pleased to share the CatalX Exchange’s exciting growth numbers for last month, which came at no surprise considering the ever-growing excitement surrounding crypto, along with the exchange’s superior features such as having the tightest spreads, fully featured order book and the lowest price for bitcoin in Canada ,” said TechX CEO Peter Green . “The first seven days of March have been extremely encouraging, so we look forward to seeing continued increase across the board when those results come in at the end of the month. It’s clear that CatalX is the premier crypto exchange in Canada and we are very happy to be partnered with them.”
TechX signed a definitive agreement ( press release from February 16, 2021 ) to make an equity investment of C$2,000,000 into CatalX.
About TechX Technologies Inc.
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA: C0B:FF) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
About CatalX Exchange
CatalX is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, CatalX has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions to provide their users with a trusted, secure platform. CatalX is the first Canadian exchange with its own stablecoin called CADX and supports 40+ cryptocurrencies.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE TechX Technologies Inc.