NextPlay Technologies revealed that NextBank International, its international banking business, has entered into a partnership with Alphabit Consulting Pte. Ltd. to offer deposit accounts and payment cards to ABCC crypto marketplace users.
Clients can trade between fiat and cryptocurrencies on the ABCC market using fiat reserves held in NextBank accounts. Account-holders can also apply for debit cards to enable them to make purchases using cryptocurrency as collateral.
With ABCC, Alphabit has amassed a sizable global consumer presence. Alphabit, a Singapore-based crypto trading provider, has applied for a license under the Payment Service Act 2019. This is to offer account creation services and online payment cryptocurrency services while operating under a licensing exemption.
For NextPlay Technologies, ABCC is a well-managed and rapidly developing bitcoin marketplace. Thus, making it a great partner to issue payment cards. With this, NextPlay Technologies expects the legal licenses to increase merchant and investor trust, boosting the ABCC network’s growth.
According to Bonner, this new partnership helps NextPlay Technologies’ finance company by providing commodities to cryptocurrency enterprises.
ABCC CEO Calvin Cheng stated that the company has partnered with NextBank to deliver these banking services. Additionally, Cheng noted that their expertise, talented management, and reputation in the international online banking market influenced their decision. Without a doubt, ABCC sees this step as the start of a long-term relationship to better serve its members.
Furthermore, the global financial technology industry is likely to rise at a compound annual growth rate of 25% from 2022 to around US$324 billion by 2026, according to Market Data Forecast.
About Alphabit and ABCC
The ABCC cryptocurrency exchange is run by Alphabit Consulting Pte. Ltd., a Singapore-based company. ABCC is a prominent cryptocurrency marketplace that is investigating the creation of cryptocurrency initiatives for global customers in the future. Through comprehensive Know-Your-Customers (KYC) protocols, it is trying to build a future in which cryptocurrency coexists alongside established financial markets. Moreover, it aspires to supply RegTech services that provide a secure environment for its ABCC members by partnering with respected vendors.
NextPlay Technologies is a global online technology company that offers games, in-game advertising, crypto-banking, connected TV, and vacation booking services. In addition, their interactive solutions use the benefits of emerging AdTech, AI, and Fintech technologies.