Xalles Holdings Inc. and BlockDrive announced the plans to create a series of new Blockchain systems and applications for supporting the Xalles Financial Services subsidiary. As previously announced, Xalles Holdings Inc. created Xalles Financial Services Inc. in May, as a wholly owned subsidiary, with its intention to acquire companies and develop financial services for business and consumer clients. The systems design and development work that BlockDrive and Xalles have underway is designed to support both the X2X system and the new consumer and planned small business financial service offerings. The design for the new version of X2X, the core solution platform that supports the Investment & Financing System (“IFS”) and Financial Transaction Reconciliation (“FTR”) services will be supported by BlockDrive technology. The entire system, which is designed on a Distributed Ledger Technology (DLT) Blockchain infrastructure, will be supported by customer authentication and controls technology, and will provide the platform for many financial service offerings from payment cards, loans, and investment vehicles. The platform will also be used in the planned Cryptocurrency Trading Engine, that is undergoing field testing, as previously announced last month. The company is expecting to announce the new financial services offerings in the coming weeks when key events, including the technology innovations, are complete.