NSX: Strategic Investment by iSignthis Limited
As announced earlier to the ASX the NSX has entered into a Joint Venture agreement with iSignthis Limited ("ISX") to form a joint venture vehicle, ClearPay Pty Ltd ("ClearPay JV"), to develop a multicurrency, realtime, same day DvP platform ("ClearPay"), to be integrated with ISX's ISXPay(R) and Paydentity(TM).
NSX will seek shareholder approval to raise an additional $3.8-$5.8 million of which ISX has the option to subscribe for an additional allocation, for up to a 19.9% final stake in NSX. NSX operates the National Stock Exchange of Australia ("NSXA"), an Australian Market Licensee. Under this license, NSX provides a stock exchange facility for the listing of equity securities, corporate debt and investment scheme units. The NSXA is regulated by the Australian Securities & Investments Commission ("ASIC").
ISX Managing Director and CEO John Karantzis said: "We are delighted to be a strategic shareholder in the NSX, which operates NSXA, Australia's second-largest Tier 1 market venue. We are excited to be working together with NSX to develop a platform that will significantly increase NSXA's attractiveness to the broking and investment banking community, as well as private organisations that intend to go public via IPO. With this investment and iSignthis' technology platforms, we have the capability to develop an Australian version of Nasdaq, and become a competitive alternative to the ASX".
The NSX can now focus on adding the goal of becoming Australia's first true digital asset exchange to its existing business activities. NSX and ISX are working on a platform that will support NSXA's transformation to a globally competitive stock exchange. An exchange that will pursue the capabilities to offer market users shorter settlement periods and more efficient trade and post trade environments than other domestic and global exchanges.
NSX Director, Mr Tom Price stated "We are pleased that ISX will be investing in NSX so as to realise the opportunity to build this platform which will enhance our existing business and provide a greater range of services to listed entities, participants and other potential users of financial markets infrastructures ."
The strategic placement has been led by KG Capital Partners, the newly formed boutique advisory firm of Justin Klintberg and Tom Gunnersen.
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.