Net Element International Inc NETE traded up as much as 310 percent, NXT-ID Inc NXTD 62 percent and Seven Stars Cloud Group Inc SSC 46 percent Wednesday on their respective cryptocurrency news.
Net Element
The fintech company announced the launch of a blockchain-focused business unit to support its electronic payment services in partnership with Bunker Capital. The “decentralized crypto-based ecosystem” is intended to directly connect merchants and consumers engaged in transactions.
NXT-ID
The firm’s wholly owned subsidiary, Fit Pay, Inc., announced its extended partnership with Cascade Financial Technology Corp to develop a platform enabling expense of cryptocurrency at global retail sites. Their collaborative product will transfer cryptocurrency value into accepted digital payment forms.
"As cryptocurrencies increase in value and distribution, the need to create new methods to monetize their value and enabling models for acceptance is the critical last mile," Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc., said in a press release. "Our development effort with Cascade seeks to connect cryptocurrencies to the payment ecosystem as a natural extension of FitPay's platform.”
Seven Stars
Seven Stars announced its 27-percent stake in Delaware Board of Trade Holdings, Inc., which claims to be the first and only blockchain-based alternative trading system licensed by the Securities and Exchange Commission.
Now DBOT’s largest shareholder, Seven Stars intends to combine its NextGen X financial technology with DBOT’s infrastructure to support a “plug and play” Initial Exchange Offering network expanding client issuance and trading volume.
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