DeFi, dApp developer Core Business Holdings goes public in US through ARAX acquisition
Arax Holdings signed Binding Letter of Intent and Transaction Terms to Acquire 75% of Blockchain Companies core business holding‘s share capital, the company behind the core blockchain.
At the time of writing, ARAX, which trades on the OTC market under the ticker ARAT, rose 600% on the day it hit $1 from an opening price of $0.14.
crypto slate We recently interviewed Core CEO Ockhert Loubser on an episode of SlateCast to reveal plans to expand the Core ecosystem. Core Blockchain is not part of the deal, but partly due to its decentralized nature, it does include dApps and some of his DeFi projects.
This acquisition includes intellectual property related to the following projects:
- Core token and smart contract platform
- Ping exchange and payment platform
- Wall Money NEO Banking and FinTech SaaS Platform
- CorePay payment and remittance platform
As an intellectual property and software manager, arTax Consult s.r.o. currently manages the property of its owners.
In addition, ARAX and its current owners commissioned arTax to structure, document and protect the assets of Core Business Holdings of four different organizations in line with the above projects.
ARAX is currently investing in the WEB3 project and the future WEB4 project and is implementing blockchain based solutions as it sees great potential in blockchain technology.
The investment firm cited several reasons for its recent acquisition of core business holdings. Core Business Holdings software solutions have adopted the Core Blockchain Network, the world’s fastest, most scalable, most secure fully decentralized platform built on an eco-friendly proof-of-work blockchain, according to a statement. increase. ARAX CEO Michael Loubser commented:
“The acquisition of Core Business Holdings will be a complete game changer for ARAX. Cutting-edge technology built on the core blockchain will put the company at the forefront of the network.
ARAX has confirmed that in addition to acquiring a majority stake, it will also seek to acquire a minority stake in Core.
