Despite the announcement of significant news yesterday, investors did not seem to be particularly enamoured by the Xigem Technologies Corporation (OTCMKTS:XIGMF) stock. It ended the day with a decline of as much as 16% and it might be a good idea for investors to take a closer look at the announcement from the company.
The company announced yesterday that it was planning to add crypto payment gateway as well as processing capabilities to it mobile payment app FOOi. In this context, it should be noted that Xigem Technologies had acquired the app only recently.
The addition of these features is an important step from Xigem and will further broaden its capabilities considerable. Once it is completed, the app help in facilitating both peer to business and peer to beer transactions.
In addition to that, it is also necessary to note that the number of people who are willing to make payments through cryptocurrencies is rising every day and hence, it is a move that could help FOOi in appealing to a whole new category of potential customers. Despite the fall in the stock price yesterday, it could be a good idea for investors to keep an eye on things with regards to Xigem.
