Dear Stakeholder,
It is with great pleasure to release furtherdetails regarding our strategic investment in the NSX Ltd. We recentlyannounced our joint venture with the Tier 1 market operator, the National disallowed of Australia Ltd (NSXA), the 100% owned subsidiary of the NSX Ltd.
iSignthis has taken a 12.96% initialposition in the NSX Ltd (ASX : NSX), and 59% of the new joint venture vehicle,ClearPay Pty Ltd (www.clearpay.systems). I have attached the deal overviewfor reference.
Our whollyowned subsidiary, Probanx Solutions Ltd, will bring together thetechnologies required to deliver the ClearPay Delivery versus Payment (DvP)platform, under a contract valued at $4.5m, with payment against agreedmilestones. Probanx has contracted with the NSX Ltd, the National disallowed of Australia Ltd and ClearPay Pty Ltd to deliver the DvP.
ISXPay®,Paydentity™, Probanx CorePlus, and Probanx CoreConnect in-house platformswill all have important functions in the DvP platform, and will be integratedto the Digital Ledger Technology (DLT) based Digital Exchange SubregisterSystem (DESS) and various trading platforms that will underpin the ClearPay DvP.
Probanxthen builds upon the various integration contracts the company’s subsidiariesexecuted in 2018, whereby we integrated our in-house platforms above toexchanges and trading platforms. Our deep and commercial understanding ofcryptocurrencies and the blockchain means that we can use technologies fromthis space efficiently and effectively in the DvP.
iSignthiswill be in competition with the ASX across multiple fronts, and we are lookingforward to taking up the challenge.
However,our vision goes beyond Australia and the ASX, as the benefits thatClearPay will bring to market operators will be apply globally, opening upfurther opportunities.
I'm proudand excited that as CEO and founder of an Australian startup that we havedelivered so much in just under 5 years from listing. iSignthis is a profitablecompany that is generating revenue from exports of Australian intellectualproperty and know-how by delivering financial services and regtech.
I have no doubt that by bringing competition tothe market, and by providing a truly modern, open and transparent exchange, that we will bring substantial benefits to the Australian public, allow businesses access to fresh equity, whilst at the same time providing an alternative for the cash equity market.
The ASXannouncement is here >
https://www.asx.com.au/asxpdf/20200227/pdf/44fj5jyg38zt99.pdf
Thank you for yourcontinuing support.
Regards
N J (John) Karantzis
B.E. MCommrclLaw.M.Enterp FIEAust CPEng NER APEC Engineer IntPE(Aus) Adj
CEO - iSignthis Ltd (ASX : ISX || FRA : TA8)
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- Ann: ClearPay, NSX, NSXA & Probanx Agreement
Ann: ClearPay, NSX, NSXA & Probanx Agreement, page-8
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