12 months ago........11 Dec 2023 12:28
Summary
GS Money is intended to make cross-border payments quick and affordable to an addressable market of millions of participants by netting and settling trades through its stablecoin-based payments network. With the acquisition of Angra, the Group now has an FCA approved API conducting fast, secure, and low-cost foreign exchange business and payment services internationally, and the first pillar of GS Money in place. In 2023 we will be looking to grow revenues substantially from this business via the stablecoin network and applications that are being developed.
Unlocking the demand for a large user base also requires a platform that can meet the clearing and settlement needs of both retail and institutional customers with high compliance and security standards. The acquisition of Glindala and subsequently its transformation into the GS20 Exchange has provided such a platform.
With the Angra and GS20 Exchange platforms in place, the FCA Regulatory Sandbox application being progressed, and further progress being made on the development of the Company's GS Money solutions, coupled with the disposal of EMS, GST has come a long way in a short period of time. We are now a focused, 'pure play' fintech group with a solid platform on which build and to role out our GS Money solutions. We will also continue to explore any further value enhancing acquisition opportunities that may become available and that can assist with accelerating the development of the Group.
Let's see what's happened in the last 12 months...... can't wait.