Fintech Select Ltd. (CVE:FTEC) and its Selectcoin, with its low-cost structure, is well positioned to become a leading Cryptocurrency exchange platform in Canada
SmallCapPower | October 25, 2017: Fintech Select Ltd. (TSXV:FTEC) (formerly SelectCore), a provider of mobile banking solutions and Cryptocurrency technologies, gained 8% to $0.195 on Tuesday after announcing the completion of API integration for Cryptocurrency capability for the Company’s existing point-of-sale (POS) infrastructure.
SelectCore had recently changed its name to Fintech Select in August to better reflect the Company’s plan to implement its software solutions to integrate Cryptocurrency into its existing prepaid card and POS platforms.
Operating under the brand name of Selectcoin, Fintech Select is in the process of beginning to accept payments at retail POS locations to facilitate the purchase and sale of Bitcoins and other Cryptocurrencies. Selectcoin has adopted a proprietary solution that turns any of its retailer’s POS terminal into a Cryptocurrency exchange at a lower cost compared to the higher-cost physical ATM locations to facilitate Cryptocurrency transactions. The below figure shows the competitive advantage of Selectcoin as compared with its competitors. Selectcoin with its low-cost structure is well positioned to become a leading Cryptocurrency exchange platform in Canada.
Cryptocurrencies and Blockchain ledger transactions represent a fundamental shift away from the traditional bricks and mortar of existing financial service providers. Fintech Select’s Selectcoin service aims to be at the forefront of this transition by providing financial services to underserved consumers who are demanding a shift away from the current paradigm. Fintech Select will continue to deploy innovative technologies and solutions to capitalize on the Company’s existing technological infrastructure and retail footprint to expand operations into the Cryptocurrency space.
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