WASHINGTON, DC and PHOENIX, AZ, July 10, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, and BlockDrive, a company delivering Blockchain as a service, today announce the plans to create a series of new Blockchain systems and applications for supporting the Xalles Financial Services subsidiary.
As previously announced, Xalles Holdings Inc. created Xalles Financial Services Inc. in May, as a wholly owned subsidiary, with its intention to acquire companies and develop financial services for business and consumer clients. The systems design and development work that BlockDrive and Xalles have underway is designed to support both the X2X system and the new consumer and planned small business financial service offerings.
The design for the new version of X2X, our core solution platform that supports our Investment & Financing System (“IFS”) and Financial Transaction Reconciliation (“FTR”) services will be supported by BlockDrive technology. The entire system, which is designed on a Distributed Ledger Technology (DLT) Blockchain infrastructure, will be supported by state-of-the-art customer authentication and controls technology, and will provide the platform for many financial service offerings from payment cards, loans, and investment vehicles. The platform will also be used in the planned Cryptocurrency Trading Engine, that is undergoing field testing, as previously announced last month.
“We are proud to be partnering with BlockDrive to find ways to develop better and smarter technology solutions to anchor our current and future core financial service offerings,” explained Thomas Nash, Xalles Holdings CEO. He added, “We will initially work on two projects with BlockDrive including the FTR component of X2X and one of our newly planned consumer financial services to create powerful solutions.”
“We are excited to assist Xalles to provide a new level of Blockchain-based innovation to its financial service offerings,” stated Harry Curtin, BlockDrive CEO. He added, “We have developed a platform and set of tools that reduce development time and risk, while improving the security and integrity of Blockchain-based systems.”
The company is expecting to announce the new financial services offerings in the coming weeks when key events, including the technology innovations, are complete.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging Blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com
Visit us at Investors Hangout: https://investorshangout.com/Xalles-Holdings-Inc-XALL-91200/
Investors Hangout is the only authorized investors blog page for Xalles Holdings Inc.
About BlockDrive
By offering Blockchain as a service we have created a platform that allows any company to maximize the benefits of Blockchain with the click of a button. Our solution offers customers the ability to quickly scale up Blockchain applications without the need of technical skills. Our product delivers high availability, rapid transaction speed and the ability to simply deliver an immutable application structure for automation and transaction processing.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com