Lynx Global Digital Finance Corporation has formally closed the acquisition of 100 per cent of the issued and outstanding shares of Ausphil Technologies (Ausphil), an Australian private company, that holds a 52.15 per cent equity interest in a Philippines licensed financial institution, Binangonan Rural Bank Inc (BRB).
Michael Penner, CEO, says: “We are extremely excited to include the Binangonan Rural Bank to our portfolio of vertically integrated payment companies. The acquisition of the Bank now allows Lynx to benefit fully from the advantages of the streamlined synergies that exist between the solutions provided by Direct Agent 5’s Philippines and Australia licensed worldwide cash-in/cash-out network, and the infrastructure provided by the Vasu and PayRight exclusive regulated partnerships in each of the Philippines and Singapore.
“BRB can now act as the organisational banking hub to facilitate the deposit and movement of money between each of these operational entities and their clients around the World as it now joins the Lynx Global a singular universally unified technology platform. We look forward to offering both local and international B2B and B2C customers a simple, cost-efficient means of sending, receiving, or making payments whether traditionally, or digitally, anywhere, at any time. For Lynx, the BRB acquisition, represents the successful consummation of yet another key foundational piece necessary to bring the unbanked and underbanked to the fast-growing global e-commerce market.”