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NEW YORK, March 19, 2021 /PRNewswire/ — Bitcoin’s value reached historic highs in mid-March, hitting $61,000 on Saturday, March 14, its highest value since the cryptocurrency launched in 2019. This rise could signal a big few months to come not just for cryptocurrencies, but for companies adopting crypto as part of their business models. As cryptocurrency becomes an increasingly integral part of the global business, early adopting companies in the crypto and crypto-mining spaces like Hello Pal International (CSE:HP) (OTCQB:HLLPF), Future FinTech Group Inc. (NASDAQ:FTFT), Riot Blockchain Inc. (NASDAQ:RIOT), SOS Limited (NYSE:SOS), and Paypal Holdings Inc (NASDAQ:PYPL) could stand to gain huge rewards for their forward thinking.

Hello Pal Expands Crypto Capabilities

Mobile technology company Hello Pal International (CSE:HP) (OTCQB:HLLPF) is one of the latest companies to enter the crypto space, though the company says that crypto was always a core part of its development plan. Hello Pal operates a proprietary, user-friendly social networking and communication platform that lets users connect and communicate with other users all over the world through text message, voice chat, and through Hello Pal’s new full-featured live streaming platform. Features on Hello Pal’s platform include seamless real-time translation to help users overcome the language barrier, as well as secure blockchain-enabled rewards for quality live streaming content that can be turned into real cash.

On February 17, Hello Pal announced the company’s latest step into the world of crypto with the launch of a new Crypto-Mining Initiative in partnership with Shanghai Yitang Data Technology. This initiative will give Hello Pal users the ability to easily and conveniently participate in Bitcoin and Ethereum mining by purchasing crypto mining machines hosted and operated by Yitang, with the proceeds from these machines deposited into the user’s Hello Pal wallet.

“It has long been our intention for cryptocurrency to play a central part on our platform, especially given the borderless nature of cryptocurrency and our international nature,” Hello Pal Founder and Chairman KL Wong said in the company’s release. “The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform.”

On March 8, Hello Pal added to its partnership with Yitang, as well as the company’s crypto strategy, with a letter of intent to acquire an initial 15% interest in Yitang’s cryptocurrency mining facility, North-West China, to be dedicated to mining Dogecoin and Litecoin, with an option to increase that interest to 35%, along with interests in additional Dogecoin and Litecoin mining assets. Once completed, the facility will be able to house 90,000 mining rigs and have a capacity of 70MW, which would make it one of the largest dedicated Dogecoin/Litecoin mining facilities in the world.

“We are excited to expand our crypto strategy to also include Dogecoin and Litecoin, which we believe will play an increasingly important role in the cryptocurrency world going forward,” the company’s March 8 release explained. “The Hello Pal community, especially what we envision for it to become, is a natural fit with the Dogecoin/Litecoin community, and this deal allows us to become a key player in it.”

Hello Pal recently released the company’s financial statements for February 2021, posting a third straight month of revenue over $2,000,000. The company achieved a total of CA$2,309,889 for the month.

“What was supposed to have been a very weak month for us revenue-wise has proven to be a nice surprise,” Wong said in the company’s release. “As we start to diversify away from the China live streaming market, we’re very pleased to see our results in the overseas live streaming market continue to grow, particularly in the broadening base of livestreamers broadcasting on Hello Pal.”

Crypto Companies See Huge Momentum

Recent months have seen a rush of companies expanding their assets in the crypto space. Blockchain-based e-commerce and blockchain tech services company Future FinTech Group Inc. (NASDAQ:FTFT) recently signed an agreement to acquire a 60% equity interest in Sichuan Ticode Supply Chain Management, signaling that the company is preparing for significant growth in the coming months.

Colorado-based Bitcoin mining company Riot Blockchain Inc. (NASDAQ:RIOT) has spent much of the past year expanding its mining capabilities, acquiring more than 2,000 cryptocurrency miners (Antminers) in February, bringing the company’s Bitcoin miner fleet up to 11,500 machines. The company said that it has also placed orders for an additional 26,100 Antminers.

Blockchain-based data and marketing company SOS Limited (NYSE:SOS) is a relatively new player in the crypto space, and is currently focused on building crypto mining infrastructure, as well as developing security management services for cryptocurrency owners. Recently, the company announced that it had acquired 5,000 additional crypto mining rigs to add to its mining setup.

Leading money handling and transaction company Paypal Holdings Inc (NASDAQ:PYPL) has been one of the earliest adopters of cryptocurrency. For years, the company has allowed its users to send and receive payments using digital currencies in lieu of conventional currencies. The company is also in the process of acquiring Tel Aviv-based digital asset solutions provider, Curv, including Curv’s cloud-based crypto security services.

The crypto space is in a period of huge growth and development, creating opportunities for companies like Hello Pal International to expand in new directions that could benefit their business.

Click here to find out more about Hello Pal International.

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 The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Hello Pal International Inc.

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

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SOURCE Microsmallcap.com

(Excerpt) Read more Here | 2021-03-19 05:50:00
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