Payment Service Provider FoPay Acquires Crypto Exchange AliExchange for $2.9 Billion
Crypto payment service provider FoPay has acquired cryptocurrency exchange AliExchange for $2.9 billion.
According to FoPay, AliExchange was acquired for 1 million FOIN tokens, which have an estimated value of $2,955 each.
“This merger between FoPay & AliExchange is setting a new benchmark for the industry,” FoPay stated in a recent press release.
“It shows that Merger & Acquisition in this Blockchain era can be completed using 100% cryptocurrency.”
Foin, the company behind the FOIN token, to date has launched a multi-currency wallet, a merchant platform and the FoPay payment service.
With the recent acquisition, Foin intends to integrate their wallet application with the exchange to provide its customers a seamless user experience.
Recently, Binance announced they will be partnering with peer-to-peer crypto market Paxful to allow its users the opportunity to spend their cryptocurrency on items ranging from gift cards to airplane tickets.