UMT invests in Blockchain technology and in integration of crypto-currencies
UMT United Mobility Technology AG has announced a strategic extension to its value chain. In the future, the FinTech company will be enabling the integration of stored value products and digital currencies, so-called crypto-currencies. Corporate customers and consumers will be able to use UMT technology to take advantage of the benefits of Bitcoins, for example, without lengthy development processes or security concerns. UMT is already prepared for the increasing importance and growing demand for crypto-currencies.
“The real revolution is Blockchain technology, which makes digital currencies possible in the first place. Before, information could only be transmitted over the internet, and this applied to fund transfers as well. Today, information have been converted directly into money using blockchains, in the truest sense of the word. Blockchain technology makes it possible to convert values, so-called stored values, between Europe and the US in just a few seconds,” declared Dr. Albert Wahl, CEO of UMT AG. “In order to facilitate this development and expand UMT Group’s position, we have also secured a strategic minority interest of initially 3 % in Coinsilium Group Ltd, (www.coinsilium.com) London-based publicly traded company. As an operating investment corporation, Coinsilium helps innovative Fintech and Blockchain companies with disruptive business models to develop and realize growth opportunities,” continued Dr. Wahl.
In addition, UMT Group expects a substantial million-order volume with existing customers in the area of transaction processing, in order to revolutionize these by means of stored values and to optimize their business processes.
With this step, UMT Group is opening up a new business area, which in the future will establish a new major revenue driver in addition to the Transaction business and Big Data.