GSVC completed the acquisition of ALLPAY and started a new global
Singapore, 1st Mar 2023 – Recently, traditional venture capital firm German Starups Group has decided to acquire the Web 3 crypto wallet ALLPAY with the full amount, aiming to stretch its arm more into the crypto industry field. The acquisition has moved on to the documentation phase and ALLPAY will remain its name and operational center in Singapore after the acquisition.
The acquisition company, German Startups Group VC is a venture capital provider that supports young growth companies in their inception, growth, financing and, when appropriate, exits by providing business expertise and venture capital to create shareholder value. Since the second half of 2013, the German startup group has been engaged in the acquisition of secondary shares from founders and angel investors. German Startups Group VC has completed the acquisition of ALLPAY and is driving the global development of the project.
The acquired party, as one of the most user – friendly Web3 wallets, ALLPAY has undoubtedly beared the attention of many of the crypto and traditional users since the start of 2022 thanks to its fiat-crypto ramps. It is compatible with multiple blockchain and its DAPP ecosystem, and has the ability to exchange crypto with more than 40 currencies. Users can log in with one click through their mobile phone number/Google Email and get a secured Web3 wallet address.
And as fiat payment gateways in the market are accompanied with high handling fees while at the same time most do not allow for email registration access, the existence of ALLPAY seems to be a solution to the market point.
Most ALLPAY team members are based in Singapore. With Kang being the CEO of ALLPAY, he is with proficient relevant experience as in Frctal (COO), Income, OpenRoad (COO), Edgeprop. Graduated from NUS with a degree of Science, he started setting up businesses since the university and has got Advanced Certificate In Training And Assessment (ACTA).
Another core member, Archer, has helped ALLPAY through all phases of its establishment and growth. He is a graduate of the Rochester Institute of Technology with a degree in Computer Science, Archer is a core developer of the original Satoshi Nakamoto Bitcoin Client (now Bitcoin Core), and is a distinguished international expert. Archer has consulted for a number of companies and organizations in the US and abroad.
Kelsey has rich experience in mainstream open source technology projects, including Graphene, Hyperledger, Ether, Bitcoin, etc. He mainly researches Paxos, Kafka and PBFT algorithms, and is proficient in using common algorithms in cryptography, such as RSA, Hash algorithms, etc. Kelsey has long been active in the cutting-edge technology sector, and has rich experience and resources in the mobile gaming, VR, and blockchain industries in Silicon Valley.
ALLPAY has proven to be successful and committed to its existing roadmap, we do look forward to its upcoming plan with regards to market size, downloads, visa card issuance, expanding global scale as well. Stay tuned on the coming news!
Organization: GS group VC
Contact Person: Abraham
Release Id: 0103232652
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