- The company aims to build a global network of services, products, technologies and applications that will make it easy and affordable for consumers to move money almost anywhere in the world, and in any currency
- FEXD is working to complete a merger, which will enable the company to strengthen its competitive position and provide neobanking services to unbanked consumers in several developing and industrialized markets around the world
- FEXD is targeting consumers and businesses in multiple international markets, including South and East Asia, Africa, Latin America, Europe, and the United States
- The number of cashless payments is set to almost triple by 2030, with the fastest growth expected in emerging markets targeted by FEXD
- The transaction value of digital payments worldwide is anticipated to reach $14.7 trillion by 2027
As the financial services sector is undergoing a significant transformation, with digital payments continuing to expand in both number and transactional value, there is a rapidly growing opportunity for more diversified platforms and innovation driven by financial technology companies such as Fintech Ecosystem Development (NASDAQ: FEXD). A Delaware special purpose acquisition company, FEXD was formed with the purpose of helping implement a cashless society through a global financial services ecosystem that addresses unmet mobile money needs.
The cashless society is quickly becoming the default system for making payments, with digital payments worldwide expected to reach $9.46 trillion in transaction value this year, and to continue expanding at an annual growth grate of 11.8% to reach $14.7 trillion by…
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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