EPX Cryptocurrency Launched in the Philippines

EPX Cryptocurrency Launched in the Philippines

Before the start of the COVID-19 pandemic last year, the adoption of digital payments and cryptocurrencies in the Philippines has been sluggish. With businesses implementing physical distancing and digital transactions in preparation for what would be the “new normal,” consumers start embracing cashless payments in their everyday lives.

A recent study conducted by Visa Philippines shows 7 out of 10 Filipinos are already using contactless payment methods more often than they did two (02) years ago. Digital payments in Southeast Asia are projected to surpass US$1 trillion by 2025, and eCommerce would spur the wider take-up of non-cash payments, and the emerging weapon of choice seems to be eWallets.

Moreover, with monumental growth in users, providers, and exchanges, cryptocurrencies have opened new opportunities, evolved industries, and diversified the investment mindset everywhere.

Official launched last 20 January 2021, EPX complements the flourishing use and accessibility of cryptocurrency in the Philippine digital payments landscape as it aims to offer consumers a decentralized cryptocurrency for peer-to-peer transfers and as a viable investment asset for Filipinos.

EPX has a total supply of 1,000,000 and halving occurs every two years. At present, one EPX is valued at PHP1.00 and is projected to grow at least threefold up to 1 EPX=20 PHP by 2023.

Modeled after international cryptocurrency BLX, XVII International Corp. sought to partner with The BLOX Group to create EPX, a decentralized cryptocurrency asset unique to the Philippines and exclusively for the benefit of its citizens.

Cloudchain, a Filipino-grown Blockchain and now a product of XVII International Corp., will record all EPX transactions both payments and exchanges. EPX is also backed by a Japanese investment group, making it a truly global collaboration in creating the Philippines’ first global decentralized cryptocurrency accessible to all.

No need to invest in expensive mining rigs, as an EPX coin can be mined by anyone in seconds using cheap and sustainable power solutions. All you need is your personal computer, a stable internet connection, and a browser, and you’re all set to mining EPX.

Once a user mines a minimum of 10,000 EPX coins, he will be able to withdraw at any selected DA5 branch authorized to operate as a virtual currency exchange to convert their EPX coins to its PHP equivalent, depending on its market value at the time. The bigger picture includes EPX used for digital payments whether for peer-to-peer transfers or e-commerce, business and government-related payments, and exchanges.

EPX aims to promote efficiency, transparency, and accountability in all financial transactions, as well as broaden financial inclusion to empower and enrich our citizens. Users benefit from faster transactions, lower fees, greater transparency, as well as lower barriers to participate in the crypto investment space.

More information about the EPX cryptocurrency may be obtained from epx.io.

Crypto Asset Management Market by Solution, Deployment Mode, Application - Global Forecast to 2026 - ResearchAndMarkets.com

TipRanks

Volatility is back on the menu. Last week brought January’s trading to a close in what amounted to the stock market’s worst month since October. The GameStop saga hogged the headlines as the retail buying frenzy for names with high short interest raised the possibility the market might be exhibiting bubble behavior. Add into the mix the slow rollout of Covid-19 vaccines and the fear of a delayed return to normalcy, and once again, uncertainty is engulfing Wall Street. The key to success in this environment is really the same as in ‘normal’ times. Look for stocks with sound fundamentals and a history of success. Yes, past performance is no guarantee of future returns, but a history of share price growth is a good indicator. After all, growth stocks are growing for a reason. We’ve used the TipRanks database to pull up the details on three such growth stocks that have shown sustained gains over the past year – gains of 120% or more. And even better, for investors seeing a growth profile, Wall Street’s analysts see continued growth ahead. Hyrecar, Inc. (HYRE) The gig economy has exploded in recent years, connecting people with skills to people with needs. Hyrecar fills a gap for car-less drivers, connecting car owners with idle vehicles to gig drivers (think Uber and Lyft) who need a vehicle. The Hyrecar service allows drivers to rent time in these vehicles, earning money from their transport or delivery routes while the car’s owner earns a passive income from the rental fee. Hyrecar operates on the peer-to-peer model, and is available to subscribers as an online platform or a mobile app. In the past year 12 months, the company’s shares have boomed. HYRE is up 228% in that time, riding especially high as economies opened up in 2H20. To put some numbers on the company’s gains, revenue increased from $3.7 million in 3Q19 to $6.8 million in 3Q20 (the last reported quarter), a year-over-year gain of 83%. While Hyrecar currently runs a net loss – like many tech-oriented startups – that loss has moderated over the course of 2020. In 3Q19, EPS was negative 24 cents; in 3Q20, that had improved to negative 10 cents. In January 2021, the company announced partnerships with AmeriDrive Holdings, an automotive fleet manager, and Cogent Bank’s Specialty Lending Unit to increase the pool of available vehicles. The expected surge in vehicle availability has analysts bullish on Hyrecar. “New strategic partnerships involving HYRE and four key players, including AmeriDrive Holdings (private) and Cogent Bank (private), aims to more than double the vehicle supply on HYRE’s platform in the next 12-18 months… We view the announcement as a significant win for HYRE, which we believe creates a massive opportunity for HYRE to increase average active rentals to ~9,000 per day vs. ~2,800 in 2021,” Maxim analyst Jack Vander Aarde noted. In line with this upbeat outlook, the 5-star analyst puts a Buy rating on HYRE along with an $18 price target. At that level, his target predicts an 82% upside in the coming year. (To watch Vander Aarde’s track record, click here) Over the past 3 months, only two other analysts have thrown the hat in with a view on the carsharing services player. The two additional Buy ratings provide HYRE with a Strong Buy consensus rating. With an average price target of $15.67, investors stand to take home a 59% gain, should the target be met over the next 12 months. (See HYRE stock analysis on TipRanks) Alpha and Omega Semiconductor (AOSL) Next up, Alpha and Omega, is a semiconductor maker with a wide portfolio of chipsets specifically designed for the power control requirements of advanced electronic devices. AOSL’s chips are found in a range of common devices, including flat-screen TVs, LED lighting, portable PCs, smart phones – and the power supply units for these products. In the fiscal 1Q21, the company reported $151.6 million in revenue, for a 28% year-over-year increase. Earnings, which had been negative prior to the fiscal Q1 report, turned positive with an EPS of 36 cents. The gain bodes well for the company’s performance, now that the pandemic crisis is starting to recede. The second fiscal quarter results will be published on Thursday, February 4. Alpha and Omega’s stock performance is also picking up, with shares rising 123% over the past 12 months. Growth like this is sure to attract attention, and it has. 5-star analyst Craig Ellis of B. Riley Securities, noted, “Comms YE 5G smartphone unit strength lends an upside bias, and we like CY21’s 2x YY growth potential… In Consumer, healthy next-gen gaming console uptake has follow-on product and design-in opportunities. So, we believe Comms, Compute, and Consumer end markets are performing quite well… We expect above-industry AOSL growth…" To this end, Ellis rates AOSL a Buy along with a $40 price target. This figure implies ~40% upside from current levels. (To watch Ellis’ track record, click here) Though not many have weighed in with an opinion on AOSL in the last 3 months, those who have are singing its praises. Overall, two analysts rate the semiconductor maker a Buy and the average price target of $37.50 implies ~30% upside for the upcoming year. (See AOSL stock analysis on TipRanks) Lands’ End (LE) The retail landscape has been shifting dramatically in recent years, and many venerable names have fallen by the wayside. Some, however, have survived. Lands’ End, founded almost 60 years ago, has built a reputation for quality in the clothing, footwear, and home décor niche. The company brought in $1.45 billion for its fiscal year 2019, the last with full numbers available. From the 2020 numbers that have been published, it looks like Lands’ End is on track for steady growth. It posted year-over-year revenue gains in both Q2 and Q3 of 2020, indicating a quick recovery from the COVID crisis. The Q3 revenue was $360 million, up 5.8% from 3Q19 – and up an even more impressive 15% from 2Q20. Meanwhile, the company has revised its Q4 guidance upward. Revenue is expected between $528 million and $533 million, up 4% at the midpoint. EPS is expected between 54 cents and 58 cents, for a 19% midpoint increase. Solid revenues through a difficult year have powered strong share appreciation. LE stock has gained a robust 126% over the past 52 weeks. Covering this stock for Craig-Hallum, analyst Alex Fuhrman writes, “Lands’ End defied expectations in 2020 and is well positioned to grow in 2021 and beyond. The company proved its ability to execute in all environments as well as the strength of its branded e-commerce channel, which has grown more than 20% y/y over the past two reported quarters… we envision continued e-commerce growth, as 2020’s growth was likely the result of market share gains from brick-and-mortar foes rather than ‘pantry loading,’ while the retail and uniforms channels have potential for substantial growth ahead.” Unsurprisingly, Fuhrman rates the stock a Buy, and his price target, at $35, implies ~27% growth potential in the next 12 months. (To watch Fuhrman’s track record, click here) Some stocks fly under the radar, and LE is one of those. Fuhrman’s is the only recent analyst review of this company, and it is decidedly positive. (See LE stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

MARKET REPORT: No stopping the Bitcoin boom as it smashes $40k

Bitcoin has smashed through the $40,000 mark after another day of stellar gains.

The controversial cryptocurrency, whose value is now gaining another $10,000 every few weeks, hit $40,427 yesterday evening.

Investors have piled into the digital currency in droves over recent months as they try to capitalise on its meteoric rise.

Controversial cryptocurrency Bitcoin, whose value is now gaining another $10,000 every few weeks, hit $40,427 yesterday evening

Bitcoin is seen by some investors as a safe way of storing their money, since there are a limited number of the online ‘coins’ which can ever exist.

They believe this should maintain demand, and prevent its value from falling significantly, in contrast with other traditional currencies as central banks across the world have been printing out more and more money during the coronavirus crisis.

But others see it as a risky bet, as it does not have an inherent value. Nevertheless, it is making some traders incredibly rich.

Bitcoin firm Mode Global, which has an app allowing investors to buy and hold bitcoin, saw trading volumes on its platform shoot up by 1500 per cent between August and December.

The company is so confident about the future of bitcoin that in October it became the first UK-listed company to invest 10 per cent of its cash reserves in the digital currency. Its shares shot up 34 per cent, or 16p, to 63p yesterday.

Stock Watch - Telit Communications Technology firm Telit disappointed investors after it said it was ditching plans to merge with Switzerland’s U-Blox. The company, a pioneer in the so-called internet of things where household devices like boilers can be controlled from a smartphone, said it had written to U-Blox to terminate talks. Telit said it did not think the Swiss business would be able to offer enough value to its shareholders. Shares in Telit slipped 5.8pc, or 12p, to 194p.

In the more sobering world of traditional stocks and shares, rail ticket seller Trainline had to tap the bond market for £150million as it desperately attempted to stay on track.

The firm, known for its website and phone app, has been struggling since the pandemic began as travel has slumped and train ticket sales have plummeted.

Trainline has already managed to hammer out a waiver on its debt agreements with its banks, to prevent them calling in the loans as its profits plunged.

Now it is hoping to raise £150million by selling bonds to investors, giving more cash to protect the company if Covid continues and to allow it to invest in future growth.

Buyers of the five-year bonds are expected to receive interest payments of 1 per cent per year.

And if the Trainline’s shares increase in value by 50 per cent from today’s price, the bonds will convert into shares in the company.

While this might be good for bondholders, if Trainline’s performance picks up when the pandemic eventually ends and they get access to cheap shares, it could mean existing shareholders have their stakes watered down.

Shares in Trainline dipped 6.8 per cent, or 32.6p, to 444.6p.

Over at outsourcer G4S, one of the most acrimonious takeover battles of 2020 looked set to continue into the new year.

Gardaworld, the Canadian security firm which lost out in its bid for G4S to US rival Allied Universal, said it had not yet given up hope of buying the British firm.

Garda on Wednesday night urged G4S investors not to accept Allied’s bid – putting it head-to-head with G4S’s board, which has recommended the offer to shareholders.

G4S announced last month that it was rejecting Garda’s 235p per share offer in favour of Allied’s 245p per share bid.

But Garda’s founder Stephan Cretier has staked his reputation on the deal, saying it is a necessary stepping stone in his dream to create a global security giant, and is not giving up easily.

G4S shares crept up 0.4 per cent, or 1p, to 260.6p, suggesting investors think a renewal of the bidding war could be in sight.

The FTSE 100 managed to keep its head above water, climbing 0.22 per cent, or 15.10 points, to 6859.96 amid vaccine hopes.

And the FTSE 250 index of mid-sized companies crept up 0.17 per cent, or 36.7 points, to 21,009.86.