JanOne Inc. has signed an agreement to acquire ALT 5 Sigma Inc., a financial technology company focused on blockchain and cryptocurrency. This deal is expected to close next week on the 13th, 2024, positioning JanOne at the forefront of the rapidly growing digital payments industry.
ALT 5 Pay which was launched in 2018 is a revolutionary payment gateway for businesses around the world that want to easily accept cryptocurrencies like Bitcoin. ALT 5 Pay can be integrated with popular platforms such as WooCommerce thus allowing vendors to accept crypto payments with limited setup requirements.
The other platform, ALT 5 Prime is a sophisticated digital asset trading platform where verified customers can purchase or sell cryptos. It’s available through web browsers, mobile apps and has state-of-the-art trading tools that serve different preferences for crypto investors and traders.
“We believe that ALT 5’s innovative solutions provide significant competitive advantages in this market and together we can help them continue their growth,” according to Tony Isaac, the CEO and President of JanOne. With ALT 5 as our foundation, we’ll work on expanding their product line-up and scaling operations globally.
According to research, emerging technologies such as blockchain and cryptocurrency will drive the payment processing solutions market to grow at a rate of 9.5% annually, from 2023 to 2030. This move by JanOne strategically positions it for profitability after acquiring ALT 5 Sigma.
ALT 5 Sigma’s President, Andre Beauchesne, was delighted by the deal with these words, “Since our beginning in 2018, it has been one of our objectives to be a part of a publicly traded company, and being acquired by JanOne starts a bright new chapter in our growth story.”
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