CSE:LYNX - Post Discussion
Post by
maysilverstone on Jun 03, 2021 5:06pm
$LYNX- one to watch
$LYNX, a company that focuses on banking and fintech relationships in South East Asia and Oceania, has been on my watchlist for a while now. I recently found this bullish article on the ecommerce market in the Philippines, here are some highlights:
- Southeast Asia emoney transactions reached USD 26 billion in 2019
-The Philippines, which mostly functions as a cash-based society, remains an outlier in the region, providing an opportunity for companies to break into this new market
- Biggest challenge is that 71% of the adult population remain unbanked but there is still a shift towards mobile/electronic payments. The number of active emoney wallets rose 4x to 8.8 million from 2017 to 2019.
- The ability to accept a variety of payment options, including cash, will help ecommerce merchants succeed in the Philippines and open up more opportunities in Southeast Asia
$LYNX recently announced their partnership with Pipit, which will provide DA5 the ability to leverage over 320k integrated physical cash-in/cash-out settlement facilities and locations at post offices, kiosks, ATM's, agent and retail locations throughout North & South America, Europe, Africa & Asia. Without the need of a bank account, the unbanked now have the ability to send/receive cash, make payments, send remittances, and load an ewallet.
Currently at $1.15, $LYNX is one to watch in the Fintech space.
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