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Tag: OLB

  • The OLB Group, Inc. (OLB) Stock Rallying in Early Trading, Here’s the Reason.

    The OLB Group, Inc. (OLB) is a leading digital Fintech services provider. The company is also involved in the Bitcoin crypto mining business. The digital portfolio of the company delivers cloud-based merchant facilities for a wide-ranging e-commerce solution. The crypto enterprise is focused on the mining of Bitcoin using sustainable natural gas.

    The price of OLB stock during the early regular trading on February 2, 2022, was last checked to be $2.35 with a 24.78% surge.

    OLB: Events and Happenings

    On February 2, 2022, OLB announced about touching $1.35 Billion in transaction volume by its merchant services annual transaction volume run rate as an outcome of 28.5 million transactions.

    OLB: CEO Comments

    Speaking at the occasion, Ronny Yakov, OLB’s CEO stated that 2021 began with an annualized revenue run rate of $10 million. He further added that 2022 started with an outstanding $36 million annualized revenue run rate which will contribute to the company’s bottom line.

    On January 13, 2022, a subsidiary of OLB reported about its expected to take delivery of the initial of four hundred Bitcoin mining machinery in January. The company is believed to generate $1 million in increased monthly revenue once all machinery is operational.

    On January 11, 2022, OLB announced its entry into a long-term lease partnership for its mining operation with an approximate capability of 2,000 machines. The area is under conversion process into a cryptocurrency mining data center.

    On December 1, 2021, OLB updated about its entry into a definitive partnership for the acquisition of cannabidiol merchants. The merchant platform had been anticipated to achieve a yearly transaction volume of up to $400 million during 2022. The company anticipated $5 million in earnings and $20 million yearly revenue.

    OLB: Key Financials

    On November 12, 2021, OLB released its financial results for the first quarter ended September 30, 2021. Some of the key highlights are as follows.

    Revenue

    For Q1 2022 the company recorded a revenue of $2.82 million compared to $2.3 million in the same period of 2020. The increase over the year in the revenue was $0.51 million or 22.3%.

    EPS

    Net loss in Q1 2022 was $0.9 million compared to $0.65 for the same period in 2020.

    Conclusion

    OLB stock down spiraled in the last six months period by 65% due to economic depression as a result of the pandemic. The current early trade leap in stock price is the result of achieving the yearly transaction volume run rate of $1.35 billion. The investors are optimistic that the company’s stock will climb further in the coming days.

  • The OLB Group, Inc (OLB) Stock Surges Ahead of Announcement that SecurePay Will Support NFTs

    The OLB Group, Inc (OLB) stock prices were up by an impressive 7.27% shortly after market trading commenced on June 23rd, 2021, bringing the price per share up to USD$5.31 early on in the trading day.

    SecurePay Supports NFTs

    June 23rd, 2021 saw the company announce that its SecurePay payment gateway would facilitate the transfer or sale of digits assets using non-fungible token (NFT) technology. The NFT technology is founded on the Ethereum platform, which is responsible for token generation and redemption, transfer of registered ownership, and associations with assets.

    Fraud Prevention

    The explosive proliferation of digital ticketing over the past year has emphasized the need to address secure ways to buy and sell these digital properties. Of crucial importance is that this be done without the risk of fraud that is associated with the replication of QR codes or barcodes, particularly on the sale of Peer-to-Peer transaction. The transfer of ownership when an NFT is associated with a digital ticket or asset is assured through a blockchain ledger. This prevents the same ticket from being sold multiple times, which, unfortunately, happens quite often.

    Scope of SecurePay

    The secure NFT process that has been put in place by OLB is designed to work seamlessly with a myriad of payment processing options of SecurePay. This gives both buyers and sellers unmatched flexibility in funding sources. SecurePay works with several major digital wallets including Apple Pay, Google Pay, crypto wallets, PayPal, and traditional credit cards. Smart contracts are used by NFT functions to facilitate the easy exchange of funds and appropriate management of terms and conditions of sale.

    Utility of NFTs

    While NFTs are most often associated with art and transactions of collectibles, the way they work is ideal for the sale or transfer of any digital asset, regardless of the dollar value. The company is dedicated to providing solutions that benefit all the parties involved in flexible and secure buying and selling. NFTs are the latest addition to the portfolio of service that the company believes will be effective in the fight against digital asset fraud.

    Future Outlook for OLB

    Armed with its foray into the burgeoning NFT market space, OLB is poised to continue its trajectory of success. The company is keen to expand its market footprint in the blockchain space, thereby ushering in unprecedented growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.