I've been seeing a lot of posts about Vinergy Capital’s 33% stake in The Target. So I looked into the fintech company/news release. The Target is a cross-border payment company focusing on the Asian/Australian markets with an interest in crypto. They've had an impressive year as well.
- Last 12 months: $30M transferred in around 992,000 transactions.
- Allows people to accept payments without having to convert currencies. This includes support for cryptocurrencies
- The 33% acquisition will cost $1,000,000 due on November 15
- Mobile payments are set to outpace credit card payments in many Asian countries.
- The global fintech market is estimated to grow 13.7%, with digital payments accounting for 92% of the market
https://ca.finance.yahoo.com/news/vinergy-acquires-33-equity-interest-120000442.html
For those who haven't heard of $VIN, they're a company that gives otherwise inaccessible exposure to investors for high-opportunity companies through investments like this one. The Target's focus on blockchain is what sets them apart from the competition in the sector. With the current bull market around crypto, it'll be interesting to see how they perform in the coming year. $VIN's market cap of only $14M makes them worth considering because of the upside potential and the stock performance over the past couple of months.