Lynx Global Digital Finance Corporation announced that it has partnered with leading provider of cryptoasset custody and trading solutions, Copper.co, to accelerate better financial inclusion to the underserved population in Southeast Asia, starting with the Philippines - a progressive digital payments market.
Under this association, Copper.co will provide secure custody and complete institutional cryptoasset trading solutions to Direct Agent 5, Inc. ("DA5"), Lynx Global's group company, with operations in Australia and the Philippines.
"At Lynx, we are pleased to help play a pivotal role to enable and facilitate the digital transformation of the financial sector in underserved markets. The Southeast Asia region holds immense opportunities in digital economy, digital payments and digital asset adoption. To date, almost 500 million people lack any form of financial service offerings, and within Southeast Asia, it is cited that more than 290 million adults are unbanked. With this partnership, our business is well-positioned to take advantage of the tremendous growth opportunities that are available for our unmatched products to reach large, unserved populations. By combining Copper.co's globally recognized institutional-grade cryptoasset custody solution with Lynx's expanding regional local payment and financial infrastructure network, we can ensure easy access to financial services for all our customers," said Michael Penner, Chief Executive Officer, Lynx Global Finance.
"We're delighted to be supporting this fast-growing network. As Lynx Global expands their reach in the Southeast Asia region, we look forward to supporting them as they further their cryptocurrency offering and expand on their goals of providing more services for financial inclusion to serve the growing customer base that is becoming more educated and sophisticated in the use of technology and finances," said Alex Ryvkin, Chief Product Officer, of Copper.
Lynx Global has been developing a strong financial platform through strategic acquisitions that focuses on enabling the growth of financial services in emerging markets. With DA5, the business continues to extend the unmatched benefits of fintech innovations to the unbanked/unserved population. As a part of its strategy. DA5 is an established, well recognized fintech provider in the Philippines. They have a national presence and trusted brand for comprehensive payment services including remittance, cash-in/cash-out locations, and bill payments. Upon receipt of the Philippine Central Bank's approval, DA5 will be able to offer businesses and consumers various ways to digitize their cash through an Electronic Money Issuer (EMI) License and convert virtual assets to fiat currency through a Virtual Asset Service Provider (VASP) License. With support from Copper.co, DA5 customers will benefit from Copper's multi-award-winning security technology, which uses the latest MPC (Multi-Party Computation).
Lynx seeks to become a leader in financial technology, solutions, and services for large-scale merchants, financial institutions, and other B2B industry partners by way of integration to the Lynx digital payment platform. The Company's payment solutions are powered by a broad suite of payment technologies and services. The Company has targeted banking and fintech relationships in the ASEAN and Oceania regions, which with a total population approaching 700 million, that can provide Lynx with a financial network hub location to service and operate a global traditional and digital financial infrastructure. By working with selected banking and/or licensed EMI partners, the Company will be able to offer a digital payment platform with a full suite of payment solutions, which may include merchant acquiring solutions; card issuing; remittance and forex; and custodial digital asset services, including digital wallet services. The Company seeks organic growth while investigating potential strategic acquisitions that may contribute critical technology applications, additional services, and revenue streams, and that can complement or enhance existing offerings and potentially increase or expedite the path to future profitability. While Lynx believes that significant near-term opportunities exist for the company's strategic initiatives, there can be no assurance that goals and objectives will be reached or that any such underlying efforts or agreements will provide successful or positive outcomes should they be implemented.
Founded in 2018 by Dmitry Tokarev, Copper provides a gateway into the cryptoasset space for institutional investors by offering custody, prime services, and settlements across 250 digital assets and more than 40 exchanges. It is committed to providing flexible solutions for institutional investors that can adapt to the changing cryptoasset space, while enabling far greater transparency and control for asset managers.
Copper's fully integrated products are unique in the cryptoasset space. Underpinned by multi-award-winning custody, Copper has built the comprehensive and secure suite of tools and services required to safely acquire, trade, and store cryptocurrencies, including access to margin lending trading facilities and the DeFi space.
At the core of Copper's infrastructure is ClearLoop, a framework that connects the universe of exchanges in one secure trading loop - with real-time settlement across the Networks. Integrated with market-leading spot and derivative crypto exchanges, ClearLoop has already transformed the way in which institutional investors can engage in the cryptoasset space since launching in May 2020.
For more information, please contact:
Lynx Global Phone: 1-888-273-1332 Email: email@example.com www.lynxglobal.io
Copper.co Phone: +65 8722 2151 Email: firstname.lastname@example.org www.copper.co
Our settlements and clearing service is backed by our award winning custody technology
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