InFocus Group Holdings Limited (ASX:IFG) Secures USD1.52 Million Contract for Stablecoin-based Payments Platform
Operational Achievements
InFocus Group Holdings Limited (ASX:IFG) has secured a USD1.52 million multi-phase agreement with GBO Assets Ltd to develop a cross-border stablecoin-based payment platform. This agreement brings the total potential contract value with GBO Assets to over USD4 million. The project will leverage InFocus’s data analytics and software engineering capabilities and is expected to be completed over the next 24 months.
Executive Comments
Chief Executive Officer, Ken Tovich, stated, “We are extremely pleased to have been awarded the work to deliver a cross-border, stablecoin-based payments platform for GBO Assets. With the acquisitions we’ve made over the last year we are well-positioned to deliver an end-to-end digital solution of this scope to take advantage of our expansive software engineering and data analytics capabilities, and our expertise in frontier technologies such as artificial intelligence, machine learning, digital assets, and big data. This engagement presents another high profile opportunity for InFocus to demonstrate its enterprise-scale capabilities with a newly enlarged team following completing the Prodigy9 acquisition earlier this year. The GBO projects span digital gaming, cryptocurrency and digital assets, and in combination with other projects we are fielding in the insurance and fintech sectors, demonstrate our commitment to delivering on the company strategy of new markets, new products and services first introduced last year.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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