/zigman2/quotes/207422553/delayed IQST -3.64%
Sep 17, 2020 (Stock Market Press via COMTEX) -- In the fast-moving FinTech world, Bitcoin is crawling back to an $11,000 valuation, cryptocurrency may replace gold in the future as a reserve currency and global banks are beginning to see the benefits of blockchain technology in their future. In this digital financial world, iQSTEL Inc.(OTC: IQST) is finalizing a Settlement and Payments Marketplace in telecommunications through its itsBchain LLC subsidiary that cuts costs, speeds transactions and offers blockchain-driven transparency.
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 /zigman2/quotes/210331248/composite AMZN +0.43% , Alphabet Inc. /zigman2/quotes/202490156/composite GOOGL +3.13% , Apple Inc. /zigman2/quotes/202934861/composite AAPL +0.87% , Telefonica SA /zigman2/quotes/207034643/composite TEF +1.26% , Samsung Electronics Co. Ltd. /zigman2/quotes/202367843/delayed SSNLF 0.00% , 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 /zigman2/quotes/207505872/composite DISH -1.05% , Nokia Corporation /zigman2/quotes/207421390/composite NOK +0.26% , Liberty Global /zigman2/quotes/205000522/composite LBTYA -0.58% and Vodafone Group PLC /zigman2/quotes/202862751/composite VOD +2.16% .
Bitcoin Nears $11,000 Again And Cryptocurrency Seen As Candidate To Replace Gold As Reserve Currency While Banks Eye Blockchain Technology; In This Digital Financial World, iQSTEL Inc. (OTC: IQST) Sees Key Role In Settlements/Payments Marketplace
In a digital FinTech global world, age-old gold could be replaced in the future as a reserve currency as Bitcoin crawls back to an $11,000 valuation and banks are beginning to see the merit in blockchain and cryptocurrency. In all this, iQSTEL Inc.'s (OTC: IQST) strategy of acquiring blockchain-driven companies such as subsidiary itsBchain and its Settlement and Payment Project platform now designed for Tier-1 and Tier-2 telecommunications carriers and real time daily payment settlements for VoIP, SMS and data. This carrier market exchange currently is approximately a $900 billion market in the U.S. Rather than a 30-45 day process, these transactions can be settled in a single day under the itsBchain LLC project, the subsidiary said.
This is an intersection of the new digital settlement and payment marketplace platform being finalized by subsidiary itsBchain LLC and and the new interest by banks in blockchain's distributed ledger technology and cryptocurrency to serve as a reserve currency that cuts costs, speeds transactions and offers blockchain-quality transparency into movements of large sums. From a real time blueprint for transactions, the itsBchain LLC can offer state-of-the-art blockchain speed and blockchain quality accuracy.
Cryptocurrency Goes Mainstream
Cryptocurrency continues to go mainstream with major publicly traded financial institutions such as MasterCard /zigman2/quotes/207581792/composite MA +2.98% and central banks such as Bank of America /zigman2/quotes/200894270/composite BAC -0.78% And Goldman Sachs /zigman2/quotes/209237603/composite GS -0.15% . 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-border transactions. Bitcoin Nears $11,000 Again And Cryptocurrency Seen As Future Candidate To Replace Gold As Reserve Currency While Banks Eye Blockchain Technology; In This Digital Financial World, iQSTEL Inc. (OTC: IQST) Sees Key Role In Settlements/Payments Marketplace.
MasterCard /zigman2/quotes/207581792/composite MA +2.98% Launches Digital Platform With Digital Currencies
MasterCard /zigman2/quotes/207581792/composite MA +2.98% 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 /zigman2/quotes/200894270/composite BAC -0.78% and Goldman Sachs /zigman2/quotes/209237603/composite GS -0.15% , 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.
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. Bitcoin Nears $11,000 Again And Cryptocurrency Seen As Future Candidate To Replace Gold As Reserve Currency While Banks Eye Blockchain Technology; In This Digital Financial World, iQSTEL Inc. (OTC: IQST) Sees Key Role In Settlements/Payments Marketplace.
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." Bitcoin Nears $11,000 Again And Cryptocurrency Seen As Future Candidate To Replace Gold As Reserve Currency While Banks Eye Blockchain Technology; In This Digital Financial World, iQSTEL Inc. (OTC: IQST) Sees Key Role In Settlements/Payments Marketplace.
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 List Of Subsidiaries