RE: Timberrrrr ๐๐คฃ17 Dec 2024 10:50
From the RNS;
Angra has experienced substantial revenue growth during H1 25, which has continued post Period end.
The GS20 Exchange continues to attract increasing interest from high-net-worth individuals and corporate clients, leading to a steady rise in account openings and transaction volumes.
The CAKE acquisition comprises a leading cryptocurrency investment platform, Bake, with a particularly strong presence in the DACH region, and is in line with the Company's strategy to expand and enhance the international presence and capabilities of the GS20 Exchange platform, providing greater value to both retail and institutional customers. I believe the acquisition marks a significant step for GST in strengthening the offering and scalability of its GS20 Exchange platform, which is central to the Company's GS Money initiative. In particular, the acquisition will: significantly expand GS20 Exchange's user base, adding approximately 50,000 active crypto users; enhance the GS20 Exchange's technology stack, providing seamless clearing and settlement of cross-border cryptoasset trades and related fiat currency payments; and create opportunities for substantial revenue growth, leveraging CAKE's strong historic financial performance and established market presence. The acquisition of CAKE is expected to complete on 2 January 2025.
The Group's acquisition of EasySend is currently expected to complete in Q1 2025.