NEW YORK, Jan. 08, 2021 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Square (NYSE:SQ), Logiq, Inc. (OTC: LGIQ), Alibaba Group Holdings (NYSE: BABA) and PayPal (NASDAQ: PYPL).
Bitcoin and digital currency adoption is being driven by the convergence of AI, Big Data, Smart Phones, and financial innovation – driving massive new growth opportunities in all aspects of financial services. Wall Street Reporter highlights the latest comments from industry thought leaders:
Square (NYSE: SQ) CEO Jack Dorsey: â€œScaling Business and Consumer Fintech Ecosystemsâ€�
â€œ…We have scaled not one but two ecosystems focused on expanding access to financial services for sellers and individualsâ€¦Letâ€™s start with Seller. Weâ€™re focused on providing sellers with fast and flexible access to their funds, which has proven to be especially important this year. Square Card, our business debit card, which we launched last year, provides sellers with a way to immediately access and spend earned funds without setting up a bank account. Adoption of Square Card has increased each quarter since launch…We also work to provide employees easier access to funds. In the third quarter, we launched two new features for Square Payroll, Instant Payments and On-Demand Pay. Instant Payments allows Square Payroll merchants to pay employees using earned funds next business day with direct deposit or instantly when employees use Cash App. This strengthens the integration between our Seller and Cash App ecosystems, and it was a great example of what we can do when we connect the two ecosystems togetherâ€¦â€�
â€œFor Cash App, weâ€™ve continued to find ways to make financial services more relatable and accessible for individuals. Weâ€™ve seen strong adoption across the Cash App ecosystem, including our stock brokerage product, which has seen the fastest adoption of any product to-date. Since launching it less than a year ago, more than 2.5 million customers have bought stocks using Cash App and billions of dollars have been traded by the end of the third quarter…This quarter we launched Auto-Invest, which allows for dollar-cost averaging from recurring daily or weekly purchase of Bitcoin or stocks.â€�
Logiq, Inc. (OTC: LGIQ) President, Brent Suen: â€œSoutheast Asia Fintech/Ecomm with 10X Upside Potentialâ€�
Logiq, Inc. (OTC: LGIQ), a regular presenter at Wall Street Reporterâ€™s NEXT SUPER STOCK livestream events, is rapidly growing itâ€™s mobile e-commerce, and fintech business in Southeast Asia, with revenues accelerating to a $40 million run-rate.
In a recent livestream event, LGIQ President Brent Suen discussed the companyâ€™s new partnership with Indonesiaâ€™s government agency which can potentially offer itâ€™s fintech services to 48 million members. Brent articulated how LGIQ has compelling upside, based on valuation comparables to itâ€™s peers in the e-commerce/fintech space. While LGIQ trades at about 2X revenues, itâ€™s peers such as SHOP, SE, STNE, and JMIA, are often trading at 20-30X revenues.
Watch (OTC: LGIQ) NEXT SUPER STOCK livestream: https://bit.ly/3lYLhnU
December 18 – LGIQ has begun the next phase of its previously announced mobile micro-lending platform in Indonesia, with a rollout of a new mobile fintech platform for 5 million contract and delivery drivers of Garda Digital Indonesia, a membership organization overseen by Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK). BPJSTK manages the pensions and health benefits for these members. The new fintech platform will make microloans available to the members for personal or business use, such as purchasing, configuring or repairing their mobile vehicles.
November 18 – LGIQ launches a new mobile fintech platform in Indonesia addressing a potential market of 48 million members. LGIQ In an exclusive strategic alliance with Indonesiaâ€™s social security program provider, Koperasi Mona Santoso Berjaya (KMSB) will provide micro-lending services to Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), Indonesiaâ€™s social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.
â€œThrough this exclusive strategic alliance with KMSB, we have a tremendous opportunity to improve the lives of nearly 20% of the Indonesian population who normally do not have access to traditional financial services,â€� stated LGIQ president, Brent Suen. â€œThe opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually.â€�
Watch (OTC: LGIQ) NEXT SUPER STOC livestream: https://bit.ly/3lYLhnU
Alibaba Group Holdings (NYSE: BABA) Daniel Zhang CEO: â€œBig Growth Opportunities in Cloud and Southeast Asiaâ€�
In the latest earnings call, Alibaba CEO Daniel Zhang highlighted Alibaba Cloud and expansion in Southeast Asia as important new growth areas:
Cloud Opportunities: â€œ…The pandemic is accelerating demand for cloud infrastructure and services. According to IDC’s latest report, Alibaba Cloud maintained its position as the largest public cloud service provider in China, which is a testament to Alibaba Cloud’s strengthening market leadership. In the June quarter, our cloud computing revenue grew 59% year-over-year in sectors such as Internet, financial services, consumer retail and public services. Alibaba Cloud not only provides infrastructure as a service but also develops industry-specific technology and business solutions to address real-world application requirements for our customers…the China cloud market is going to be somewhere in the $15 billion to $20 billion total size range, and the U.S. market is about 8x that. So the China market is still at a very early stage…â€�
Southeast Asia Strategic Growth Priority: â€œ…Southeast Asia market is our strategic priority for Alibaba’s globalization strategy…The pandemic has significant impact on many Southeast Asian countries, and it has converted many consumers into online shoppers. We believe the increasing adoption of online shopping is beneficial for healthy growth of the region’s e-commerce industry over the long term… And I think when we look at our Lazada’s operation, we expect to build a more tech-driven, AI-driven sustainable business. Actually, today, in this market, the competition is very extensive, and the people invest and even certifies the buyers, sellers, even shipping fees and trying to get the short-term growth. But we strongly believe we need to build a long-term, sustainable business and so our advantage is, first is about Alibaba technology infrastructure and especially our experience and know-how and technologies in the AI and in the search and recommendation and the supply and demand match mechanismâ€¦â€�
Alibaba (NYSE: BABA) Q1 2021 Earnings Call Highlights: https://bit.ly/3dZ8vXT
PayPal Holdings (NASDAQ: PYPL) CEO Dan Schulman: â€œRise of Digital Wallets Will Drive PayPalâ€™s Growthâ€�
â€œ…The digitization of the global economy combined with the rise of digital wallets will drive our growth over the next decade. Our scale, two-sided network, trusted brand, our strong relationships with the regulators around the world, and our AI and data modeling capabilities can all be leveraged to ensure our PayPal and Venmo apps are essential parts of our customersâ€™ daily lives…This is beginning to play out in our strong Q3 results. In Q3, our total payment volume grew by a record 36% on an FX neutral basis to $247 billion in annual run rate, just shy of $1 trillion.
â€œOver the next year, both the Venmo and PayPal apps will undergo a fundamental transformation intended to dramatically increase their functionality and drive engagement…This expanded suite of services will include enhanced direct deposit and check cashing, budget and savings tools, bill pay, investment alternatives, including crypto, subscription management, buy now, pay later optionality and all of Honeyâ€™s shopping tools from wish list, price monitoring, deals, coupons, and rewards…We recently announced that PayPal will allow account holders to buy, sell and hold cryptocurrencies first, in the U.S. and then expanding to international markets in the Venmo platform in the first half of next year…We will rapidly move at the beginning of next year and allow consumers to use cryptocurrencies as a funding instrument to shop across all 28 million of our merchants. This solution will not involve any additional integrations, volatility risk or incremental transaction fees for either consumers or merchants and will fundamentally bolster the utility of cryptocurrenciesâ€¦â€�
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