Quickbit recovers deposited collateral of 3.9 mEUR

Today Quickbit has in its entirety recovered its outstanding receivable consisting of deposited collateral (so-called rolling reserve) in the form of cash and cash equivalents of 3.9 mEUR. Previously, Quickbit announced that the expectation was that the deposited collateral, which was a collateral Quickbit needed to make to a previous acquiring partner, would be repaid to Quickbit before the end of the fourth quarter ‘21/22. The receivable has now been repaid to Quickbit in its entirety and the proceeds are intended to be used for future acquisitions and investments in growth. 

For further information, please contact:

Hammad Abuiseifan, CEO

Tel: +46 73 095 87 12
hammad@quickbit.com

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Quickbit is a Swedish fintech company, founded in 2016 with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother. Today, Quickbit offers safe and easy-to-use products for e-merchants as well as customers. With a transaction volume to date in excess of €900 million, Quickbit has already enabled and empowered individuals around the world, through the use of cryptocurrencies. Quickbit has been listed on NGM Nordic SME since July 2019. For more information, please visit www.quickbit.com