SYNQA, the mother or father firm of OmiseGo previously referred to as Omise Holdings, raised $80 million in a fundraising spherical for brand new cashless fee ventures.
In a June 22 announcement, Thailand-based fintech firm SYNQA said it had raised $80 million in a Sequence C funding spherical led by Siam Industrial Financial institution subsidiary SCB 10X and the Asia-based enterprise capital group SPARX. Different buyers included the Japan-based Toyota Monetary Companies Company, Sumitomo Mitsui Banking Company, SMBC Enterprise Capital, and the Aioi Nissay Dowa Insurance coverage Company.
In line with a press launch from SYNQA shared with Cointelegraph, the corporate will use the funding to unfold cashless options to companies throughout Asia. The fintech agency cited digital foreign money as only one resolution amongst many.
“In instances of social distancing, fintech infrastructure resembling fee gateways are key instruments in performing each day monetary transactions in a quick, safe and handy method.”
“There are lots of merchandise and components that may assist a society turn into cashless,” a SYNQA consultant stated to Cointelegraph. “Our subsidiaries are growing new and improved applied sciences and monetary infrastructure to boost buyer experiences with seamless worth switch techniques that will additionally accommodate a cashless society.”
Doable enhancements to Toyota Pockets
Along with its efforts in enhancing cashless funds, SYNQA has been supportive of Japanese producer Toyota, which introduced it had launched a cashless app pockets in November 2019. At press time, no crypto help is accessible for the Toyota Pockets.
“The brand new subsidiary [was] based to particularly meet market calls for from enterprises to help them of their digital transformation,” the consultant instructed Cointelegraph. “The crew works intently with enterprises to develop end-to-end fintech digital transformation merchandise just like the Toyota Pockets.”
OMG pump and dump raises eyebrows
Cointelegraph reported in Might that the primary day of buying and selling for Ethereum-based OmiseGo (OMG), the 41st ranked cryptocurrency by market cap, was marked by vital premiums at exchanges together with Coinbase. The exercise resulted in a 200% worth enhance and instant crash.
On the time of writing, the worth of the OMG token is $1.53, removed from its ATH at roughly $25 in January 2018.