Fintech Ecosystem Development (NASDAQ: FEXD) Leveraging Team’s Extensive Fintech Experience to Identify Combination Targets

May 11, 2023 11:23:01
  • FinTech Ecosystem Development Corp. is a SPAC whose goal is to identify and engage in business combinations with businesses that have developed or are developing technology that enables communities and companies to store and transfer money
  • The company is targeting developing countries, particularly those in South Asia, a region where vast sections of the population are underbanked or unbanked
  • 85FEXD plans to leverage its management’s experience in the Fintech sector to identify high-growth targets primarily operating in South Asia with a high volume of customers and growing demand
  • Experts believe that Asia is a ripe market for financial innovation, given that it is home to the world’s youngest workforce and consumer groups with a high adoption rate of mobile and digital technologies

More than seventy percent of the adult population in South-East (“SE”) Asia is either unbanked or underbanked, according to consultancy firm Bain (https://ibn.fm/w4Ulu), with the World Bank separately reporting that South Asia accounts for over twenty percent of all unbanked adults in the world (https://ibn.fm/X6Zao). But as Tzu-Chung Liang, a South-East Asia financial services strategy and transaction leader at consultancy firm EY, tells the Financial Times, there is a silver lining: “Asia has one of the world’s youngest workforce and consumer groups, with a high adoption rate of mobile and digital technologies, so it’s a ripe market for financial innovation” (https://ibn.fm/hgA10).

This potential has sparked the interest of Fintech Ecosystem Development (NASDAQ: FEXD), a special-purpose acquisition company (“SPAC”) formed to develop a global financial technology system. FEXD’s goal is to identify and engage in a merger, capital stock exchange, asset acquisition, stock purchase…

Read More>>

NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]