Borqs Technologies (NASDAQ: BRQS) is down 2% after embedded software and Internet of Things (ioT0 products) announced a deal with Zippie to develop standalone IoT payment solutions. The company and Singapore-based blockchain add-on payment platform company Zippie will jointly create the solutions to meet the growing demand for digital currency transactions. Zippie is a pioneer of the Web3.0 payment platform using blockchain technology.
Zippie allows you to send and receive programmable payments with cash and digital assets, including tokens, loyalty points, airtime, and gift cards.
More importantly, Zippie is in the process of obtaining an e-money license in the EU and other strategic regions. By the end of this year, its payments system will have connected around three billion bank accounts and 1.3 billion digital wallets. This expansion will be vital for Borqs, which will leverage the strategic partnership to advance its IoT solution. In addition, Borqs is also developing 5G products for hotspots and phones. With these developments, BRQS deserves to be watched in the coming months.
On Wednesday, BRQS stock fell 1.20% to $ 0.78 with more than 24.03 million shares, from its average volume of 11.17 million shares. The stock traded in a range of $ 0.7780 to 0.9000 after the trade opened at $ 0.90.