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APT Systems tightens focus on its core Stablecoin and Escrow business

By Edlyn Cardoza

December 06, 2021

  • APT Systems
  • APTY
  • AUREX Trading and Recovery

APT Systems, Spera, Verifundr escrow services, FinTech, USA, AUREX Trading and RecoveryAPT Systems, Inc., a software development and FinTech company, announced that it will move gold operations directly under APT which was further facilitated by the sale of its subsidiary, AUREX Trading and Recovery. This is part of an initiative to tighten corporate focus on its core business being its Verifundr escrow services and upcoming launch of its stablecoin, Spera.

“We are streamlining to maximize our attention on the Verifundr platform and our Spera stablecoin,” says Glenda Dowie, Founder and Chief Executive Officer of APT Systems, Inc. “We are moving to a dedicated gold metal managing operation inside of APT, to maintain our commitment for partial physical gold backing of Spera.”

APT Systems has agreed to sell AUREX Trading, its eScrap recovery subsidiary, to its previous operations manager. The sale is intended to allow APT to remain in close contact with the business going forward and for APT to directly maintain established relationships with the precious metal refining industry. All physical gold inventory currently held and that is in the process of being recovered over the next 90 days will be transferred to APT for eventual backing of the stablecoin.

“This move allows APT to experience the best of both worlds—all of the benefits of gold recovery while removing ourselves from the physical work of sorting tons of circuit boards and electronics in the daily operation of AUREX,” Dowie says. Under the agreement, APT management will work closely with and continue to support AUREX operations over the next six months for a smooth transition.

“With the sale of AUREX, we remain proud of collecting valuable scrap materials which we were able to keep out of landfills,” Dowie says. “We urge interested organizations to contact AUREX to facilitate their recycling and refining needs.”

Dowie notes the move allows APTY to fully concentrate on its core product family of Verifundr escrow, supported by its Spera stablecoin. “The divestiture frees our human capital to focus entirely on Verifundr and Spera for now and to add Intuitrader in the future,” Dowie says. “This benefits our development efforts and our shareholders.”

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