ALT5 Sigma, a wholly-owned subsidiary of JanOne, Launches ALT5 Settlement Platform aimed at the untapped $27.3 Billion Global Digital Content Creation Market
PR Newswire
6 min read
LAS VEGAS, June 11, 2024 /PRNewswire/ -- JanOne Inc. (Nasdaq: JAN), a multidisciplinary organization with a focus on healthcare and fintech, announced today that its wholly-owned subsidiary, ALT5 Sigma, has launched a new service named "ALT5 Settlement Platform" aimed at the untapped Global Digital Content Creation Market.
JanOne (PRNewsfoto/JanOne)
According to JanOne, ALT5 Settlement Platform enables Digital Platforms with the ability instantaneously to pay all content creators in a cryptocurrency of their choice through ALT5 Settlement Platform APIs, including, but not limited to, Bitcoin, Ether, USDT, and USDC. ALT5 Settlement Platform makes it possible to pay thousands and or millions of content creators in a highly efficient way, while speeding up the process and dramatically reducing the cost associated with the remittance and payment settlement. ALT5 Settlement Platform also enables the content creators themselves to load a prepaid VISA card 24/7/365 automatically with the use of cryptocurrencies from anywhere in the world and then enables them to shop at Visa's 130 million merchant locations in over 200 countries or to withdraw funds at any of the 14,500 financial institutions globally.
"The Global Digital Content Creation Market was estimated at $27.3 Billion in 2023 and is expected to grow at a rate of 13.3% from 2023 to 2030. Even if there are many other target markets with the same needs, this market segment is very progressive and understands the benefit of the instantaneous global payment settlement that content creators require," said Alt5's president, Andre Beauchesne. "There are over 200 million content creators in the world for platforms, such as TikTok, YouTube, and Twitch, and the majority earns less than $100,000 per year. Making smaller payments to millions of these creators using traditional banking is time consuming and costly for both the platforms and the content creators. Our product solves this problem elegantly," added Mr. Beauchesne.
ALT5 Settlement Platform was launched on a pilot project in September 2023 with initial volume of $1 million for the month and settlement volume has grown for this limited number of customers to over $7 million per month.
About ALT5 Sigma Inc.
Launched in 2018, ALT5 is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5, through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". The Company has processed over $1.2 billion in cryptocurrency transactions in 2023.
ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency (US Dollars, Canadian Dollars, Euros, and British Pounds Sterling) automatically or to receive their payment in digital assets.
ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named "ALT5 Pro" that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers.
About JanOne
JanOne is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. JanOne is one of the constituents of the Russell Microcap Index. Through its biotech activities, JanOne is developing innovative, actionable solutions intended to help end the opioid crisis. JanOne is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation's history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.
JanOne's ALT5 subsidiary is a global fintech that provides next generation blockchain powered technologies for the trading, clearing, settlement, payment, and custodianship of digital instruments.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the statements that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as "continue", "expect", "intend", "will", "hope" "should", "would", "may", "potential", and other similar expressions. This press release also contains statements and links relating to the profitability and prospective growth of ALT5's platforms and business, including, but not limited to international currency risks, third-party or customer credit risks, liability claims stemming from Alt5's services, and technology challenges for future growth or expansion. Such statements reflect JanOne's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by JanOne, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors could cause JanOne's actual results, performance or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in JanOne's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and JanOne does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. JanOne cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
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