According to the joint announcement released on Tuesday (July 17), the two companies will work together in establishing a mutual referral and strategic marketing relationship.
BIG Blockchain Intelligence Group (CSE:BIGG) and Glance Technologies (CSE:GET) have officially entered into a strategic alliance agreement to collaborate on promoting their respective businesses and find ways to work together, the companies jointly announced on Tuesday (July 17).
According to the press release, the two companies will also work together to corroborate a mutual referral and strategic marketing relationship.
“We’re excited to explore the strategic ways we can work with Glance to the mutual benefit of both companies,” Lnace Morginn, CEO of Big Blockchain Intelligence Group said in the release.
BIG Blockchain brings to the table its blockchain-agnostic search and analytics engine, called QLUE, which assists those in law enforcement, RegTech and government agencies in tracing, tracking and monitoring cryptocurrency transactions forensically.
The company’s commercial product, called Bitrank, provides a “risk scoring” method that offers instant visibility into the background of cryptocurrency wallets. The product seamlessly provides financial institutions, exchanges, cryptocurrency miners and bitcoin ATMs with the ability to identify, mitigate and report on risky cryptocurrency transactions.
Meanwhile Glance Technologies is best known for its Glance Pay app, a multi-platform mobile payment solution that allows customers to instantly pay bills and earn rewards with each purchase. Glance has also been working on its own cryptocurrency called Glance Coin, which will provide Glance Pay users with immediate access to a variety of merchants who accept the coin and offer exclusive loyalty rewards.
“I see this agreement as just the beginning of working with BIG to position both our companies front and center in the global market,” Desmond Griffin, CEO of Glance said in the joint release. “I know you can only build a global presence and client base through this type of partnership and collaboration. We will accomplish so much more by working together.”
Following Tuesday’s announcement, shares of BIG Blockchain Intelligence Group responded favorably with a 21.87 percent jump to C$0.20 as of 2:43 p.m. EST. Shares of Glance Technologies were also on the rise, increasing by 10.39 percent to reach $C0.42 as of 2:45 p.m. EST On Tuesday.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Big Blockchain Intelligence Group is a client of the Investing News Network. This article is not paid-for content.