Xalles Enters Join Venture with BlockDrive

Xalles Holdings (OTC:XALL), a fintech services firm headquartered in Washington, DC announced that it has partnered with blockchain company BlockDrive. Together, the companies plan to employ a blockchain-driven platform for loans, securities and payment cards.

As quoted in the press release:

As previously announced, Xalles Holdings Inc. created Xalles Financial Services Inc. in May, as a wholly owned subsidiary, with its intention to acquire companies and develop financial services for business and consumer clients. The systems design and development work that BlockDrive and Xalles have underway is designed to support both the X2X system and the new consumer and planned small business financial service offerings.

The design for the new version of X2X, our core solution platform that supports our Investment & Financing System (“IFS”) and Financial Transaction Reconciliation (“FTR”) services will be supported by BlockDrive technology. The entire system, which is designed on a Distributed Ledger Technology (DLT) Blockchain infrastructure, will be supported by state-of-the-art customer authentication and controls technology, and will provide the platform for many financial service offerings from payment cards, loans, and investment vehicles. The platform will also be used in the planned Cryptocurrency Trading Engine, that is undergoing field testing, as previously announced last month.

Click here to read the full press release.