Fintech company Quickbit, which develops technology solutions, wants to change its name to Valuno Group as part of its strategic shift to focus more on payment services and systems.

According to the company, there is a large and growing demand for payment services and systems as well as shopping experiences.

In a statement, the company says it is reviewing its business with a new scalable strategy and restructuring. This includes a greater focus on innovation and business development in the B2B product Corporate Wallet, but also Pay and "related services".

The review also means that Quickbit will reinvest parts of revenues from existing products in innovation to support global expansion. A developed business plan will also be developed for growth and expansion into new markets.

"Given the strong global interest in innovative payment solutions, we see this as a great opportunity to launch a long-term scalable strategy to optimize the utilization of the market potential", says Chairman Peter Liljeroos.

Quickbit's overall goal is to "take a leading global position in innovative payment technology by offering user-friendly and secure solutions that enable easy integration of cryptocurrency into people's daily lives".