Africa's fast growing trillion dollar cross-border electronic payment market provides unique opportunities for Nukkleus to expand its global footprint and DRFQ’s transaction volume.
NEW YORK, January 22, 2024--Nukkleus Inc. (NASDAQ: NUKK) and its subsidiary, Digital RFQ (DRFQ), are excited to announce a new collaboration with Tantel Group to expand their footprint in the rapidly growing African B2B payments market, which the World Bank estimates to be valued at over $1.5 trillion.
This collaboration aims to address the challenges of costly, slow, and unreliable cross-border payments in Africa, factors that have hindered economic growth in the region. By synergizing DRFQ's innovative technology with Tantel Group's local expertise, the initiative seeks to revolutionize the payment infrastructure in the region, enhancing transaction efficiency, reducing costs, improving reliability, and overcoming FX limitations.
Emil Assentato, CEO of Nukkleus commented: "Our integrated approach prioritizes execution speed and privacy, fostering the growth of online transactions and digital wallets while reducing friction in Africa's payments landscape. As Africa's electronic payment market continues to grow, this collaboration with Tantel Group represents a significant step in our strategy to expand our services and influence across the continent, which we anticipate will result in substantially increased transaction volume for DRFQ."
About Nukkleus Inc.:
Nukkleus Inc. (NASDAQ: NUKK) is a dynamic fintech aggregator dedicated to revolutionizing the financial services industry. Through strategic acquisitions and technology development, Nukkleus is creating a comprehensive ecosystem that addresses the evolving needs of modern finance. As 'A Gateway to the Future of Finance', Nukkleus is committed to driving growth, fostering innovation, and setting new standards for efficiency, security, and inclusivity in the financial world. For more information about Nukkleus please visit: https://www.nukk.com/.
Financial Products and Services Disclaimer:
Investment in digital assets involves risks, including the lack of regulation and customer protections typical in other financial markets, and is subject to a changing regulatory environment. These assets may lack legal tender status and are not covered by deposit protection insurance. Past performance is not indicative of future results. Local laws and regulations may restrict your ability to transact with us, and some services may not be available in your jurisdiction (e.g., Jacobi Asset Management's fund in the United States, Digital RFQ's licensing). For detailed information on Nukkleus' offerings and regulatory compliance, visit our EDGAR profile: https://www.sec.gov/edgar/browse/?CIK=1787518 .
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This press release contains forward-looking statements as defined under U.S. securities laws. These statements, identified by words such as "will," "believe," "anticipate," "contemplate," "expect," "estimate," "intend," "plan," or their negatives or variations of these words, or similar expressions, are not guarantees of future performance and are subject to risks, uncertainties, and assumptions. Actual results may differ materially due to various factors, including our ability to benefit from the business combination, market competition, regulatory changes, and the risks inherent in our industry and operations. Forward-looking statements in this release are based on information available as of the release date and are subject to change. Except as required by law, we do not undertake to update these statements.
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