Advanced Bitcoin Technologies AG sets strategic Realignment as a multi-currency transaction platform
▪ By building an innovative multi-currency transaction platform, the company will significantly boost global growth opportunities of digital currencies.
▪ Receive, store, exchange, and send international fiat, crypto, and digital currencies easily, securely, quickly, and inexpensively with the multi-currency transaction platform,exchange and send.
▪ Compared to cash based on Distributed Ledger Technology (DLT) programmed, virtual currencies are safer, cheaper, and faster.
▪ By discontinuing the savings app “savedroid — Save yourself happy!” By 31 December 2020, savings of around 200,000 euros are expected in the 2021 financial year.
▪ Through cooperation with Advanzia Bank S.A., fee-free savedroid Mastercard GOLD for all users of the “savedroid — Save yourself happy!” savings app.
▪ For the 2020 consolidated financial statements, one-off extraordinary depreciation of around 0.8 to 1.2 million euros is expected.
Advanced Bitcoin Technologies AG (ABT, ISIN: DE000A2YPJ22) continues with the development of an innovative multi-currency transaction platform, their strategic group restructuring consistently continues. As part of payment transactions, business and Private customers receive, store and exchange international fiat, crypto, and digital currencies easily, securely, quickly, and inexpensively with this innovative platform.
ABT generates income from transaction fees and exchange rate differences (Spreads). This is made possible by virtual, freely programmable currencies based on the Distributed Ledger Technology (DLT), which — compared to cash — enables transactions in a faster, cheaper, and more secure manner. With the restructuring of the business model and the new product focus, ABT as an innovative financial technology company (FinTech) has the clear goal of the significance to benefit from global growth opportunities of digital currencies. Against this background, ABT aims to fully regulate its multi-currency transaction platform.
“Digital currencies offer enormous potential for disruptive innovations across the broad financial sector in favor of dynamic technology companies and at the expense of traditional Banks. “, says Dr. Yassin Hankir, Chairman of the Board of Advanced Bitcoin Technologies.
“Digital currencies will not complement cash, but rather in perspective replace. An open global currency competition between major central banks and international technology companies will emerge that have extreme growth opportunities for innovative FinTech player. “
As part of the targeted implementation of the new business model, on 17, December 2020, The Management Board and the Supervisory Board decided to discontinue the operating business of the SparApp “savedroid — save yourself happy!” On December 31, 2020. This ends the long-standing, successful cooperation with Wirecard Bank AG, which has been the Manager of savings accounts of the savings app users. By setting the savings app “savedroid- Save yourself happily! ”ABT expects cash-effective savings in the 2021 financial year in the amount of around 200,000 euros.
As part of the ongoing product conversion and in cooperation with Advanzia Bank all users of the savings app receive a permanently free savedroid as a thank you Mastercard GOLD. Users who accept the offer also receive a welcome bonus of 15 euros as a credit as well as an initial credit of 0.001 Bitcoin for the future multi-currency wallet.
“The discontinuation of the savings app is not a farewell for us, but the start of the product conversion towards a multi-currency wallet that makes the worlds of Euro and Bitcoinconnect “, emphasizes Dr. Yassin Hankir, Chairman of the Board of Advanced Bitcoin Technologies.
“Our new partnership with Advanzia Bank is fundamental to implementing the card offer as a thank you to all loyal savings app users. We are very happy that we could win such a strong provider for our users. “, he continues.
Furthermore, ABT is expecting non-liquidity-relevant, one-time extraordinary depreciation in the amount of around 0.8 to 1.2 million euros of work capitalized for internally developed software and intangible assets taking into account the corresponding reversal of deferred tax liabilities.
As part of the strategic realignment, the ABT board of directors will also be downsized from four to three Members. Therefore the management board service contract with Mr. Christian Lang will not be extended. In addition, it was decided in mid-October 2020, Capital increase with a volume of 660,000 euros at a subscription price of 2.00 euros per new share of Advanced Bitcoin Technologies AG, which is completely managed by the members of the supervisory board of Society and the investment and structural bank Rhineland-Palatinate was signed in
Registered in the commercial register and the number of shares increased to 20,304,673 shares.
About Advanced Bitcoin Technologies AG
Advanced Bitcoin Technologies AG has set itself the goal of creating the worlds of Fiat, Linking crypto and digital currencies, and business and private customers enable simple, secure, fast, and inexpensive payment transactions. To Advance Bitcoin Technologies AG focuses on building an innovative Multi-currency transaction platform. Advanced Bitcoin Technologies AG includes the savedroid AG and savedroid FL GmbH in Liechtenstein, savedroid NL B.V. in the Netherlands and savedroid LUX S.A. in Luxembourg at 98.62% each. With their Listing on the open market of the Düsseldorf Stock Exchange pursues, Advanced Bitcoin Technologies AG aims to allow investors to participate in the global trend in the field of crypto and digital currencies. More information: www.abt-ag.com
Advanced Bitcoin Technologies AG sets strategic Realignment as a multi-currency transaction… was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.