Novatti to persue more Blockchain business acquisitions, development opportunities

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ASX-listed FinTech developer and payment services provider, Novatti Group, is backing blockchain as a key ingredient to its future success.

Novatti’s half-yearly report commentary has stated,

“The Company continues to pursue opportunities with blockchain and capitalise on the strong interest in the leading digital asset technology, which it expects to drive future revenue growth opportunities.”

“In addition, the Company continues to review potential acquisitions of complementary businesses.”

Blockchain in-roads:

Novatti is forging ahead with Blockchain research and development, signing an agreement with US-based Lightyear.io to integrate Novatti’s platform into open-source blockchain network, Stellar. The goal is to create a lucrative global blockchain payments solution.

Further extending the organisation’s Blockchain exposure, Novatti signed an MOU with Gingkoo Financial Technology, a Chinese blockchain technology company, to develop opportunities leveraging Gingkoo’s blockchain technology and expertise.

Commenting on the Gingkoo agreement, Novatti CEO Peter Cook said,

“We are extremly well placed to take advantage of the enormous opportunity that the Gingkoo blockchain techologies presents through our experience in emerging and developing markets combined with the increasing financial processing networks that we control or integrate with”

“Gingkoo is a partner with outstanding skills and intellectual property to help Novatti leverage their extensive blockchain capabilites into financial services and logistics markets.”

Cash in the bank:

Novatti has the cash to advance its blockchain strategy.

Last month, Novatti completed a share placement with Chinese technology investors, raising AU$7m.

More about Novatti:

Novatti’s current core business is software technology and payment services. Novatti helps economies, corporations and consumers digitize cash transactions. Novatti’s software solutions include Digital Wallet, Branchless banking, Mobile Money, Bill Payments, Remittance Services, Voucher Management Systems and Utility billing. Novatti’s transaction processing services include Flexepin, an open loop cash voucher service, processing of Chinese payment methods including AliPay and WeChat Pay and remittance services.