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MASTERCARD (MA)
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MasterCard : KryptoTech Launches Nexank, a New Card to Satisfy the Cryptocurrency Users' Demand

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03/07/2018 | 09:21am CEST

Last December, thousands of bitcoin users saw how the cards they used to make their bitcoins easy to use in everyday purchases stopped working due to the loss of license by the provider that supplied most card companies, including some as well known as Xapo, Wirex or AdvCash

 

     (Logo: https://mma.prnewswire.com/media/649146/KryptoTech_Logo.jpg )

The problem was not due to a change of policy on the part of VISA or Mastercard, but to the repeated non-compliance of some of the standards required by VISA and Mastercard to its licensed companies.

The good news now comes from the hand of KryptoTech Blockchain Technologies, S. L. a company specialized in the development of projects based on blockchain technology, which, through its subsidiary Nexank, is launching a new card at the beginning of March that not only attend the existing demand, but also includes some important novelties.

The new Nexank card can be charged in euros from its internal bitcoin wallet but it also offers two other very interesting options, charge from more than forty other altcoins (ether, litecoin, monero, etc.) through the ShapeShift gateway, and the newest, includes a qwark wallet from which the card can also be charged directly. In this way, the Nexank card becomes a unique product that also supports qwark as an everyday cryptocurrency.

This link with qwark is due to the fact that this token has also been created by KryptoTech using the Ubiq platform developed by a group of programmers including Luke Williams, founder of Ubiq and founding partner of KryptoTech together with Salvatore D' Arco and Rubén Arcas.

Asking Salvatore D' Arco about the restlessness among former card users who were cancelled by other companies, he confirms the excellent relationship with the provider, mainly due to the establishment of limits of use in accordance with Mastercard's rules, such as the annual limit of use that Nexank sets at 50,000E per year, which is more than enough for the vast majority of users.

In addition to the direct services offered by its subsidiary Nexank to cryptocurrency users, KryptoTech, which currently has a dozen employees, aims to double its workforce during 2018 to attend the growing demand for projects based on blockchain technology for both government institutions and large corporations in Latin AmericaEurope and Asiamainly.

Media Contact
Name: Rubén Arcas
Position: International Business Manager
Email: ruben@kryptotech.io
Phone: (+34)-854-524-972

© Copyright iCrowdNewswire LLC 2018., source Press Releases

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Financials ($)
Sales 2018 14 951 M
EBIT 2018 8 353 M
Net income 2018 6 472 M
Finance 2018 3 111 M
Yield 2018 0,46%
P/E ratio 2018 35,25
P/E ratio 2019 29,29
EV / Sales 2018 14,9x
EV / Sales 2019 13,1x
Capitalization 227 B
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Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 227 $
Spread / Average Target 4,2%
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Managers
NameTitle
Ajaypal S. Banga President, Chief Executive Officer & Director
Ari Sarker Co-President-Asia Pacific
Richard Neil Haythornthwaite Chairman
Edward McLaughlin President-Operations & Technology
Martina Hund-Mejean Chief Financial Officer
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