iSignthis released further details regarding its strategic investment in the NSX Ltd
iSignthis has issued an announcement in order to release further details in relation with its strategic investment in the NSX Ltd.
In accordance with the the iSignthis announcement:
iSignthis recently announced our joint venture with the Tier 1 market operator, the National Stock Exchange of Australia Ltd (NSXA), the 100% owned subsidiary of the NSX Ltd.
iSignthis has taken a 12.96% initial position in the NSX Ltd (ASX : NSX), and 59% of the new joint venture vehicle, ClearPay Pty Ltd (www.clearpay.systems).
iSignthis wholly owned subsidiary, Probanx Solutions Ltd, will bring together the technologies required to deliver the ClearPay Delivery versus Payment (DvP) platform, under a contract valued at $4.5m, with payment against agreed milestones. Probanx has contracted with the NSX Ltd, the National Stock Exchange of Australia Ltd and ClearPay Pty Ltd to deliver the DvP.
ISXPay®, Paydentity™, Probanx CorePlus, and Probanx CoreConnect in-house platforms will all have important functions in the DvP platform, and will be integrated to the Digital Ledger Technology (DLT) based Digital Exchange Subregister System (DESS) and various trading platforms that will underpin the ClearPay DvP.
Probanx then builds upon the various integration contracts the company’s subsidiaries executed in 2018, whereby we integrated our in-house platforms above to exchanges and trading platforms. iSignthis deep and commercial understanding of cryptocurrencies and the blockchain means that we can use technologies from this space efficiently and effectively in the DvP.
iSignthis will be in competition with the ASX across multiple fronts, and we are looking forward to taking up the challenge.
However, iSignthis vision goes beyond Australia and the ASX, as the benefits that ClearPay will bring to market operators will be apply globally, opening up further opportunities.
Mr. John Karantzis is proud and excited that as CEO and founder of an Australian startup that iSignthis has delivered so much in just under 5 years from listing. . iSignthis is a profitable company that is generating revenue from exports of Australian intellectual property and know-how by delivering financial services and regtech.
Mr. John Karantzis has no doubt that by bringing competition to the market, and by providing a truly modern, open and transparent exchange, that we will bring substantial benefits to the Australian public, allow businesses access to fresh equity, whilst at the same time providing an alternative for the cash equity market.
The ASX announcement can be found on the following link: https://www.asx.com.au/asxpdf/20200227/pdf/44fj5jyg38zt99.pdf