There seems to be no shortage of companies looking to capitalize on the up and coming crypto-currency market, with Bitcoin of course being one of the most recognizable virtual currencies out there. GLANCE TECHNOLOGIE COM NPV(OTCMKTS:GLNNF) is the latest OTC-traded issuer we’ve noticed doing just that.
Glance Technologies owns and operates Glance Pay, a mobile payment system that is comprised of Android and iOS apps on the user end, combined with merchant manager apps, and a payment processing hosting environment with anti-fraud technology on the back end. Consumers make payments, redeem digital deals, and interact with merchants, who have access to integrated, targeted in-app marketing, geo targeted digital coupons, and social media marketing.
Last week, GLANCE TECHNOLOGIE COM NPV(OTCMKTS:GLNNF) announced that Netcoins Inc., who enables approximately 4,000 stores to become bitcoin teller locations through virtual ATM software, has entered into an alliance with Glance Technologies. Netcoins Inc. provides an easy way for people to buy bitcoins and Glance will allow users to spend their bitcoins quickly and easily via Glance Pay.
According to blockchain.info the price of bitcoin has increased over 600% during the past year, making the current market capitalization of bitcoin over $72 billion USD. This means there is 6 times as much purchasing power in the bitcoin community versus just 1 year ago, with still limited opportunities to spend bitcoins compared to traditional currencies.
The alliance between Netcoins and Glance will give people better access to both buying and spending bitcoin. One of the current difficulties in using bitcoin is the time it takes to complete a transaction, which can be many minutes and in some cases many hours. Glance can help solve this problem by allowing bitcoins to be converted to Glance Dollars, which can then be used to make lightning fast transactions using the Glance Pay app.
In conjunction with the alliance, Michael Vogel and Dominic Vogel (the founders of Netcoin) have agreed to act as Glance’s advisers regarding cryptocurrencies. These advisors join Spiros Margaris on Glance’s advisory board, who has been recognized as the No. 1 top global Fintech influencer by Onalytica.com and No. 10 overall Blockchain influencer by Right Relevance.
“We are thrilled to have the opportunity to work with the awesome people at Glance Technologies and offer up our collective bitcoin and cyber security expertise,” says Netcoin Co-founder Dominic Vogel.
“Cryptocurrencies and blockchain technologies are transforming payments and security. We are committed to being at the forefront of payments, security, and mobile technologies and are excited by the possibilities of combining our anti-fraud technologies with cryptocurrencies,” says Glance CEO Desmond Griffin. “We are also thrilled to add 2 more experts to our advisory board as we continue innovating in these leading edge domains.” (Source: PR Newswire)
The stock itself appears to be ready to undergo a consolidation barring any further exceptional catalysts. It is quite overbought at the moment, so it may be awhile before we’re interested in GLNNF from a trading standpoint, but we are interested in what it’s doing with its digital payment systems.
On a couple of other side notes, GLNNF recently reported having received $5M+ in financing through the exercise of options and warrants. The company also provides digital financial services to legally operating businesses in the cannabis industry, which is of course, a market space that we are quite fond of. Stay locked to Street Register for updates, and we’ll deliver important developments on GLNNF as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in GLNNF stock, short or long.