Washington, D.C. and San Diego, California--(Newsfile Corp. - January 16, 2024) - Xalles Holdings Inc. (OTC Pink : XALL) ("Xalles"), a well-established holding company with a focus on innovative technology and financial services, has completed the previously announced CashXAI Inc. ("CashX") acquisition transaction, making CashX a wholly owned subsidiary of Xalles Financial Services Inc. This acquisition solidifies Xalles' position in the fintech sector and opens exciting new opportunities for growth.
The integration of CashX into the Xalles family significantly bolsters its financial services offerings, with a special focus on serving unbanked and underbanked communities. CashX's innovative network, powered by advanced self-service kiosks, has revolutionized the way users can convert cash into digital currency, making financial services more accessible than ever. Their mobile app provides real-time financial management without many of the traditional fees or barriers. CashX currently operates in Mexico, the United States, and is poised for expansion into Africa, the Middle East, and Asia.
Stephen Combe, the CEO of CashXAI, brings over two decades of leadership in payment and fintech innovation, including pioneering electronic token systems and self-service kiosks. His expertise has played a pivotal role in establishing extensive payment networks across North America, Africa, and Asia.
CashX already has established agreements in place for deploying its self-service kiosks at numerous major supermarket and convenience store chains across Mexico. Additionally, CashX has distribution partnerships with the leading payment networks in the United States, covering a vast network of over 50,000 locations. These partnerships with supermarket chains and local convenience stores create an ideal ecosystem for the CashX platform, ensuring accessibility and guaranteed approval for financial services, especially for underbanked populations.
Stephen Combe, CEO of CashXAI, expressed his enthusiasm, saying, "I am excited about joining the Xalles family of companies. Our strategic partnerships in Mexico are of paramount importance, especially considering that cash transactions still dominate the Mexican market. Integrating financial services within major supermarkets aligns perfectly with consumer habits, offering a streamlined solution for monthly financial activities and offers a broader, full-service solution on Mobile, Self Service or Web, at a fraction of the cost for traditional financial services."
Thomas Nash, CEO of Xalles Holdings, added, "The integration of CashX with our existing applications will enrich our consumer financial services. We are excited about expanding the CashX network and offering additional financial services on a global scale."
About Xalles Holdings Inc. (OTC Pink: XALL)
Xalles Holdings Inc. is a leading holding company, specializing in innovative technology and financial service solutions. Focused on growth and diversification, Xalles Holdings is committed to developing cutting-edge technology-based solutions across various sectors, with an emphasis on supporting disruptive companies. Utilizing its proprietary Xalles RISE Business Model (Roll In, Selected Exit), the company actively seeks acquisition targets with solid management teams, robust business models, expansive total attainable markets (TAM), and enticing exit opportunities. Emphasizing the integration of blockchain and cutting-edge technologies, Xalles provides industry-leading solutions, poised to capture recurring revenue streams over time. Discover more at Xalles.com.
About CashXAI Inc.
CashXAI Inc. is at the forefront of a financial revolution, transforming access for the underbanked with a groundbreaking platform for those without traditional bank accounts or credit history. Our services make it a breeze for users to convert cash into digital currency, unlocking doors to vital financial services at competitive rates. The CashXAI mobile app, fortified with a real MasterCard, paves the way for a spectrum of transactions, from bill payments and online shopping to money transfers and cryptocurrency purchases, all without the need for a bank account or credit check.
Our expansive network of retailers ensures our services are a stone's throw away in local neighborhoods. CashXAI empowers users to take control of their finances anytime, anywhere, shattering the barriers of traditional banking. The platform spotlights the immediate availability of funds, abolishing waiting periods and background checks, thus enabling users to fully harness their financial power. For more information, please reach out to info@cashx.ai or explore www.cashx.ai.
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 SEC.gov and in OTC Markets at OTCMarkets.com.
Investor Relations Contact:
IR@xalles.com
Xalles.com
IR: 202.779.1460
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