Xalles announces expanding cryptocurrency strategy with Vigor Crypto

By Pavithra R

Xalles, a FinTech holding company leveraging blockchain technology for financial reconciliation and payment auditing solutions, has announced taking strategic initiatives to capitalize on the growing digital asset and cryptocurrency market. 

The cryptocurrency market is witnessing rapid growth with its total value $1 trillion in Jan 2021 to over $1.3 trillion as of Feb 2021. How ever, as per CoinGecko’s index of 6,124 assets, there are signs of slowing down of the growth spectrum. The growth has primarily been driven by institutions such as MicroStrategy and Tesla purchasing Bitcoin on the open market, which both announced direct purchases of Bitcoin exceeding billions of dollars in current value. Earlier this week, Tesla also announced accepting Bitcoin for payment.

In December 2020, Xalles acquired cryptocurrency firm Vigor Crypto Holdings. Vigor Crypto is preparing to commercialize a business to business offering that utilizes its intellectual property and trading engines. Vigor Crypto Labs was formed as an arm of Vigor Crypto that performs the research and testing functions to ensure a quality service offering when launched. 

Vigor Crypto Labs, over the past 60 days has executed over 4,000 profitable trades in 2 pairs (BTC/USD and LINK/USD) with a return on investment exceeding 50% in captured trading profits. The firm considering the current trajectory anticipates over 100% in gains by the end of the first quarter. The company also intends to capitalize on its successes partnering with institution cryptocurrency trading firms for licensing and white labelling opportunities.

Besides its B2B approach, Vigor Crypto is working with institutional representatives at Coinbase Pro and Binance.us to guide clients and prospects through the long, complex corporate approval process. Vigor Crypto is also applying for a corporate account with Binance.us to expand trading pairs opportunities and reduce trading fees.

Established since 2002, Xalles Holdings is a public FinTech holding company specializing in payment solutions and related businesses. Xalles Financial Services is a wholly-owned subsidiary of Xalles Holdings.