FinTech Company Reports 90% Transaction Volume Increase
FinTech Company Reports 90% Transaction Volume Increase
JanOne's Subsidiary, Alt5 Sigma, Reports 91% Year-Over-Year Increase in Transaction Volume.
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JanOne, a multifaceted healthcare and fintech organization, has announced that its subsidiary, Alt5 Sigma, has achieved significant growth in transaction volume. For the months of April and May 2024, Alt5 Sigma reported a combined transaction volume of US$289 million. This figure represents a substantial 91% increase compared to the US$151 million recorded during the same period in 2023.
The Growth Trajectory
Alt5 Sigma's President, Andre Beauchesne, attributes this impressive growth to organic means. "Since inception, we have relied solely on word-of-mouth and client referrals to grow our business and have managed a steady growth year-over-year," said Mr. Beauchesne. He emphasized the company's commitment to global expansion through modern marketing strategies. "The adoption of cryptocurrencies in many industries is accelerating, and our B2B solutions can be easily integrated into all business processes from checkout to payouts."
Founded in 2018, ALT5 Sigma is a forward-thinking fintech company that leverages blockchain technology to support a new global financial paradigm. The company offers two primary platforms: ALT5 Pay and ALT5 Prime.
ALT5 Pay serves as a cryptocurrency payment gateway. It enables registered and approved global merchants to accept and process cryptocurrency payments. Merchants can integrate ALT5 Pay into their operations via plugins for platforms like WooCommerce or through ALT5 Pay’s checkout widgets and APIs. One notable feature is the option for merchants to automatically convert cryptocurrency payments to fiat currency or retain them in digital assets.
ALT5 Prime is an electronic over-the-counter trading platform tailored for digital assets. It allows registered and approved customers to buy and sell digital assets using fiat currency. Customers can access ALT5 Prime through various channels, including a browser-based application, the ALT5 Pro mobile app (available on both Apple’s App Store and Google Play), ALT5 Prime’s FIX API, and Broadridge Financial Solutions’ NYFIX gateway.
In 2023, ALT5 processed over US$1.2 billion in cryptocurrency transactions. This milestone underscores the growing acceptance and integration of cryptocurrencies in various business operations.
The Role of Cryptocurrencies in Modern Finance
Cryptocurrencies have revolutionized financial transactions by offering decentralized, secure, and efficient means of transferring value. Businesses across various sectors are increasingly adopting these digital assets for different applications, from consumer payments to complex financial transactions. The integration of cryptocurrencies into business processes is driven by various factors:
Efficiency: Cryptocurrencies enable faster transaction times compared to traditional banking systems.
Cost Savings: Reducing intermediaries in financial transactions can significantly lower costs.
Global Reach: Cryptocurrencies offer a universal mode of transaction, eliminating the complexities of currency exchange.
Security: Blockchain technology provides enhanced security features that protect against fraud and unauthorized access.
JanOne, listed on Nasdaq and part of the Russell Microcap Index as of June 28, 2024, stands out for its diverse portfolio encompassing both healthcare and fintech sectors. The organization's mission extends beyond financial technology, with a strong focus on addressing the opioid crisis through innovation and education.
Healthcare Initiatives
JanOne is actively developing solutions to combat the opioid epidemic, which remains one of the most severe public health crises in the United States. The company invests in research and development to create non-opioid pain management alternatives. Its pipeline includes drugs in clinical trials designed to target the root causes of pain, aiming to reduce reliance on addictive opioids. This strategic approach supports physicians who seek effective pain management options without the risks associated with opioid prescriptions. Alt5 Sigma's remarkable growth in transaction volume reflects the broader trend of increasing cryptocurrency adoption. As the company rolls out its global marketing strategies, it is well-positioned to further expand its reach and influence in the fintech landscape.
The future of Alt5 Sigma and its parent company JanOne looks promising, with continued innovations and strategic expansions likely to drive further growth. The emphasis on integrating blockchain technology into financial processes aligns with the evolving needs of modern businesses and consumers. The substantial year-over-year increase in Alt5 Sigma's transaction volume highlights the growing acceptance and integration of cryptocurrencies in various business processes. With ALT5 Pay and ALT5 Prime, the company offers robust solutions that cater to the dynamic needs of global merchants and investors.
As JanOne continues to advance its dual focus on fintech and healthcare, its efforts to address the opioid crisis and innovate in the financial sector demonstrate a commitment to creating a positive impact on society. Both Alt5 Sigma and JanOne exemplify how innovative technologies and strategic initiatives can drive growth and contribute to solving critical issues.
Disclaimer: The information provided in this article is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or an endorsement of any products or services mentioned. Readers should seek professional advice and conduct their own due diligence before making any financial decisions.
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