Cuentas, Inc. (OTCQB: NXGHD) (the "Company" or "Cuentas"), a FinTech company delivering mobile banking, credit and telecommunications to the unbanked, underbanked and underserved population, estimated at 70 million people in the USA , has announced that it has signed a non-binding Letter of Intent (LOI) with BanXit Ltd, an Israel FinTech company that has developed a unique secure payment financial technology platform to provide advanced and innovative solution for banks and financial institutions. A binding agreement is scheduled to be signed by October 31, 2018.
The BanXit platform helps financial institutions meet the growing demand by consumers in the new financial world - demands fueled by, and fueling, the Secure Payment Technology revolution. This new financial world is one where loans, currencies, and payments can be securely managed independently of central authorities.
In the new economy customers can choose to use services that best suit their individual needs, financial institutions need an innovative technology platform to support new products and new ways of doing business.