22 July 2024
RC365
Holding plc
("RC365"
or the "Company")
RC365
acquires Money Lenders Licence
New
licence advances strategy to expand into the virtual banking
market
RC365 Holding plc (LSE: RCGH), an
established payment solutions and fintech company, is pleased to
announce that it has gained a Money Lenders Licence ("MLL") in Hong
Kong, which allows the Company to provide money lending services to
its clients for the first time and represents progress on its
strategy to expand its offering into virtual banking.
The Company intends to offer digital
lending services through its RCPAY subsidiaries to new and existing
RC365 customers. It expects to launch the service by the end of the
current calendar year as an app-based product.
RC365 has gained the MLL via the
acquisition, through a wholly-owned subsidiary of the Company, of
the entire issued share capital of HC Capital Group Ltd, the
licence holder, for a cash consideration of HK$230k. HC Capital
Group is licenced and regulated in Hong Kong under the Money
Lenders Ordinance (Chapter 163).
Chi Kit (Michael) LAW, Chief Executive
Officer of RC365, said: "We are pleased to have
acquired this Money Lenders Licence, which will allow us to expand
our offering to include digital money lending services. This
broadens our portfolio for attracting new customers as well as
being an excellent value-added service for our existing customers,
particularly for SME merchants who often face challenges in
securing credit with the paper-intensive processes of traditional
banks. A key element of our growth strategy is the expansion into
virtual banking, and this licence represents important progress
towards achieving that goal."
For further information please
contact:
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RC365 Holding
plc
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Chi Kit LAW, Chief Executive
Officer
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T: +852 2251 1621
E: ir@rc365plc.com
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Guild Financial Advisory Limited - Financial
Adviser
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Ross Andrews
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T: +44 (0)7973 839767
E: ross.andrews@guildfin.co.uk
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Evangeline Klaassen
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T: +44 (0)7972 841276
E:
evangeline.klaassen@guild.co.uk
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Gracechurch Group - Financial PR
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Harry Chathli, Claire Norbury,
Heather Armstrong
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T: +44 (0)204 582 3500
E: rc365@gracechurchpr.com
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About RC365
Holding plc
RC365 Holding plc (LSE: RCGH) is an established
payment solutions and fintech company. It operates primarily in
East and Southeast Asia through its core subsidiaries of Regal
Crown Technology and RCPAY, and the recently-established RC365
Solutions.
For over 10 years, the Company has
delivered efficient and secure payment gateway solutions and IT
support and development services for payment and financial systems,
including ERP solutions. In 2021, it commenced providing digital
remittance and payment services, which expanded to include foreign
exchange and premium card solutions. These services are provided to
multinational merchants, SMEs and individuals. RC365 intends to
expand into the virtual banking market and geographically,
including in the UK and wider Europe.
For more information, visit:
https://www.rc365plc.com