To Advance Financial Inclusion in Emerging Markets
The acquisition allows Qenta to increase its global footprint and leverage Noble’s existing partnerships. Noble leads national deliberations for Qenta’s G-Coin® digital gold token to be recognized as an official national currency in Palau.
HOUSTON, TX, Aug. 17, 2022 (GLOBE NEWSWIRE) — Qenta, Inc., (“Qenta”) a financial infrastructure platform with cutting-edge technology and a proprietary enterprise-grade blockchain, the Qenta Operating System, today announced the acquisition of Noble Money, Inc., (“Noble”).
With employees and advisors including world renowned cryptographers, former senior government officials, and founders of large multinational organizations, Noble intends to scale the use of digital currencies starting with governmental adoption. The company is backed by leading investors that include 8 VC, Tribe Capital, Social Capital, Green Sands Equity and more, who now all join Qenta’s investor group.
“The synergies between our businesses are clear, and we are excited to bring Noble onto the Qenta platform. Combining our regulatory footprint and technology with Noble’s will amplify our efforts around financial inclusion and access tremendously,” said Brent De Jong, CEO of Qenta.
The combined companies are already making a strong regional push as the country of Palau considers legislation that would adopt a gold backed digital currency, to be administered by Noble, as an official national currency alongside the US Dollar. Qenta’s digital gold token, G-CoinⓇ launched in the U.S. in 2019 and currently available in 76 countries through digital asset exchanges, is purported as the appropriate solution for this.
The G-Coin is a digital certificate of ownership to one gram of ethically sourced physical gold that is stored in insured and regularly audited vaults. Qenta has developed digital wallet functionality to enable users to save gold as well as to send fractions of gold between peers or across borders, and in time spend in gold through debit cards and point of sale systems.
“The fastest way to achieve our vision of making sound money accessible to every human is to partner alongside an established player with large payment and regulatory infrastructure, and substantial private-public experience,” said Spencer Kaye, CEO of Noble Money.
The two companies’ CEOs bring a wide breath and depth of experience, both having founded their own investment firms, De Jong Capital and Transform Capital. De Jong Capital is invested across commodity supply chains and payments industries, having taken two companies public in the last 12 months. Transform Capital is invested in companies like SpaceX and Carta and has provided seed capital for several well-known companies in the FinTech arena. Their combined experience will allow for a smooth business combination and a successful outcome for all Qenta and legacy Noble stakeholders.
Qenta is a financial technology platform offering asset tokenization, multi token wallets and alternative banking, cashless payments, and capital & risk management solutions, uniquely positioned to serve emerging markets. Headquartered in Houston, Texas, Qenta has offices and operations on 5 continents and more than 400 employees. Qenta offers the highest level of security and compliance and is governed by financial authorizations in Bermuda, Brazil, Dubai, Luxembourg, Puerto Rico, Switzerland, and the US. By reducing friction and delivering better access to financial products and services, Qenta aims to create borderless and democratized financial ecosystems to elevate global businesses and citizens. For more information, please visit www.qenta.com.