Home » OmiseGO’s Parent Company SYNQA Raised $80 Million in Series C
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OmiseGO’s Parent Company SYNQA Raised $80 Million in Series C

OmiseGO's Parent Company SYNQA Raised $80 Million in Series C

SYNQA, the dad or mum firm of OmiseGo previously often called Omise Holdings, raised $80 million in a fundraising spherical for brand new cashless cost ventures.

In a June 22 announcement, Thailand-based fintech firm SYNQA acknowledged it had raised $80 million in a Sequence C funding spherical led by Siam Business Financial institution subsidiary SCB 10X and the Asia-based enterprise capital group SPARX. Different traders included the Japan-based Toyota Monetary Providers Company, Sumitomo Mitsui Banking Company, SMBC Enterprise Capital, and the Aioi Nissay Dowa Insurance coverage Company.

In accordance with a press launch from SYNQA shared with Cointelegraph, the corporate will use the funding to unfold cashless options to companies throughout Asia. The fintech agency cited digital foreign money as only one resolution amongst many.

“In occasions of social distancing, fintech infrastructure resembling cost gateways are key instruments in performing each day monetary transactions in a quick, safe and handy method.”

“There are numerous merchandise and components that may assist a society turn into cashless,” a SYNQA consultant mentioned to Cointelegraph. “Our subsidiaries are creating new and improved applied sciences and monetary infrastructure to boost buyer experiences with seamless worth switch techniques that may additionally accommodate a cashless society.” 

Doable enhancements to Toyota Pockets

Along with its efforts in enhancing cashless funds, SYNQA has been supportive of Japanese producer Toyota, which introduced it had launched a cashless app pockets in November 2019. At press time, no crypto help is on the market for the Toyota Pockets.

“The brand new subsidiary [was] based to particularly meet market calls for from enterprises to help them of their digital transformation,” the consultant informed Cointelegraph. “The staff works carefully with enterprises to develop end-to-end fintech digital transformation merchandise just like the Toyota Pockets.”

OMG pump and dump raises eyebrows

Cointelegraph reported in Could that the primary day of buying and selling for Ethereum-based OmiseGo (OMG), the 41st ranked cryptocurrency by market cap, was marked by vital premiums at exchanges together with Coinbase. The exercise resulted in a 200% value enhance and instant crash.

On the time of writing, the value of the OMG token is $1.53, removed from its ATH at roughly $25 in January 2018.

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