GreenBox (NASDAQ: GBOX), an emerging and rapidly growing fintech company, announced that it has entered into a licensing agreement with Cross River, a respected technology-driven infrastructure provider that offers embedded financial solutions. GBOX’s partnership with Cross River allows the fintech pioneer to launch its first banking-as-a-service initiative and position itself as strong financial technology-driven brands. Leveraging Cross River’s infrastructure and access to the payment rails enables GreenBox to open custodial, reserve and operating accounts for its customers, who can then manage those accounts with a full suite of tools, also powered by Cross River. According to the announcement, the new partnership creates new channels for adding customers and robust revenue growth as well as allowing GreenBox to establish itself as a vertically integrated end-to-end financial technology solution. “This was an important and necessary first step towards the launch of banking as a service which we believe will be a game changer for GreenBox as it will radically expand our capabilities and the vast universe of potential customers, with a customer-inspired, technology driven and combined offering,” said GreenBox CEO Fredi Nisan in the press release. “Not only will we eventually be able offer all our existing merchant clients cutting-edge banking services, but we can also open these solutions to strategic partnership and enterprises seeking white-label solutions. We expect this to be a significant driver of revenue growth. . . . Cross River is the perfect partner to launch this ambitious initiative with given their expertise in banking technology. This represents yet another example of us executing against our master plan for expansion, with a trusted, tech-forward bank whose mission is aligned with our own. Together, we will be a disruptive force in the fintech landscape, enabling the sustainable, long-term value our shareholders expect.”
To view the full press release, visit https://nnw.fm/sHznT
About GreenBox POS
GreenBox is an emerging financial technology company leveraging proprietary blockchain security and token technology to build customized payment solutions. The company’s applications enable an end-to-end suite of turnkey financial products and fraud detection as well as improve the efficiency of handling large-scale commercial processing volumes for its merchant clients. For more information about the company, please visit www.GreenBoxPOS.com.
NOTE TO INVESTORS: The latest news and updates relating to GBOX are available in the company’s newsroom at https://nnw.fm/GBOX
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
