Mastercard (NYSE: MA) Launches Digital Currency Testing Platform For Central Banks As Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS) Get CloserTo Cryptocurrency As They Begin Testing Blockchain Technology; iQSTEL Inc.
Cryptocurrency continues to go mainstream with major publicly traded financial institutions such as MasterCard (NYSE: MA) and central banks such as Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS). As MasterCard begins testing cryptocurrency for its payments ecosystem in an experimental Digital Currency Testing Platform, Bank of America and Goldman Sachs have begun to use cryptos-underlying technology -- blockchain -- in handling large cross-boarder transactions. One example is management of today's currency crisis in Venezuela.
Media companies such as Stock Market Press are reporting on the fast growing telecommunications market. It keeps readers up to date on company stocks such as iQSTEL Inc. (OTC: IQST), amazon.com (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Telefonica SA (NYSE: TEF), Samsung Electronics Co. Ltd. (OTC: SSNLF), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS),Ericsson (NASDAQ: ERIC), DISH Network Corporation (NASDAQ: DISH), Nokia Corporation (NYSE: NOK), Liberty Global (NASDAQ: LBTYA) and Vodafone Group PLC (NASDAQ: VOD).
Mastercard (NYSE: MA) Launches Digital Currency Testing Platform For Central Banks As Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS) Begin Testing Cryptocurrency As They Begin Using Blockchain Technology; iQSTEL Inc. (OTC: IQST) Finalizing Marketplace Solution At itsBchain LLC Subsidiary To Speed International Financial Payments/Settlement
MasterCard (NYSE: MA) was cited in a report by bitcoin.com for launching a digital platform that enables consumers to pay for goods and services with digital currencies to central banks. MasterCard in turn named Bank Of International Settlement's (BIS) research that found 80% of banks are researching use of digital currency and 40% are already experimenting with it. At Bank of America (NYSE: BAC) and Goldman Sachs (NYSE: GS), Bitcoin is seen as a reserve choice with decentralized ledgers alternatives to conventional currency and fluctuating gold. Large financial institutions are relying on blockchain -- the underlying technology behind cryptocurrency.
iQSTEL Inc.'s (OTC: IQST) Marketplace Solution From itsBchain LLC Subsidiary
iQSTEL Inc. (OTC: IQST) is finalizing a marketplace solution from itsBchain LLC subsidiary for use by Top Tier global providers for quick, secure and fraud mitigating payments/settlements transactions within a blockchain-driven ecosystem marketplace. Time frames for settlements can be reduced down to as little as one day. As large financial institutions move to use digital cryptocurrency, the solutions in finalizing payments for Top Tier telecom companies worldwide are converging as ways to offer a reserve alternative that can be trusted and reliable for global financial institutions. MasterCard (NYSE: MA) Launches Digital Currency Testing Platform For Central Banks As Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS) Get CloserTo Cryptocurrency As They Begin Testing Blockchain Technology; iQSTEL Inc. (OTC: IQST) Finalizing Marketplace Solution At itsBchain LLC Subsidiary To Speed International Financial Payments/Settlements.
Digital Currency Has Confidence Of Major Financial Institutions Globally
Digital cryptocurrency also has the confidence of major financial institutions globally to effectively serve as a vehicle currency for payments/settlements. In telecommunications, iQSTEL Inc. (OTC: IQST) itsBchain LLC subsidiary is finalizing a carrier grade marketplace solution for Top Tier providers globally to reinvent the world of cross-border payment transactions. This solution quickens movement of large financial transactions, offers blockchain-driven transparency in real time and offers security. Not only does it cut costs, it also mitigates fraud.
5G Seen As A Catalyst For Blockchain And Distributed Ledger Technology
The subsidiary is finalizing the Settlement and Payment Marketplace in its blockchain based payment platform allowing Tier 1 and Tier 2 carriers to exchange VoIP, SMS and data with real time payment settlements. Utilizing blockchain technology, it seeks to achieve the same goals as large financial institutions: less cost, more speed, distributed ledger transparency, and fraud mitigation. In developing countries, especially, the new marketplace driven by blockchain technology is seen driving more use of SmartPhones in countries such as India and Brazil. In distressed countries such as Venezuela, financial institutions are looking for new, stable and safe ways to track and complete settlements/payments within a distributed ledger ecosystem in which it is confident. MasterCard (NYSE: MA) Launches Digital Currency Testing Platform For Central Banks As Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS) Get CloserTo Cryptocurrency As They Begin Testing Blockchain Technology; iQSTEL Inc. (OTC: IQST) Finalizing Marketplace Solution At itsBchain LLC Subsidiary To Speed International Financial Payments/Settlements.
Banks Feeling More Secure Regarding Stability And Reliability Of Cryptocurrency In Distributed Ledger Ecosystem
iQSEL, Inc.'s (OTC: IQST) Sees Strong Q3 And Q4 Performance
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said the Company's first half 2020 financials represent "further proof that our business model, a combination of corporate growth and acquisitions, is working very well. All of our operating subsidiaries just reached a major milestone, going Net Income positive. Our management experience in Telecom Operations has been key in the achievement of these results. We look forward to fantastic Q3 and Q4's as we anticipate further corporate and subsidiary developments leading in to 2021."
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), added, "Our growth during 2020 has been phenomenal and is attributed to our focus on strong carrier agreements and strategic subsidiary acquisitions." He added, "Our subsidiaries shine as success stories, even at this early stage, as was seen in our recent release detailing their individual net income."
iQSTEL, Inc. (OTC: IQST) reported all operating subsidiaries of the 21st Century enhanced telecommunications service provider generated positive net income for the parent Company. These subsidiaries include: Etelix, SwissLink, QGlobal and IoT Labs. All showed a positive net income for the Q2 2020 reporting period.
iQSTEL, Inc. (OTC: IQST) Expands Network Of Subsidiaries
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the "IoT Smart Gas" platform and application.
Source: Stock Market Press
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