APT Systems Inc (OTCMKTS:APTY) Stock Continues To Fall: Down 15% In a Week
Software development and fintech company, APT Systems Inc (OTCMKTS:APTY) focuses on Verifundr escrow as well as payment services supported with a stablecoin named Spera. The company is now providing access to wallets facilitating deposits as well as withdrawals for Spera users as the firm aims to bring stable coins into the market.
Market Stats
On Monday, APTY stock fell 10.74% to $0.0054 with more than 10.31 million shares, compared to its average volume of 11.45 million shares. The stock moved within a range of $0.0048 – 0.0067 after opening trading at $0.0060.
APT Systems Integration Completed Supporting Spera Wallet Deposits
Stablecoins are cryptocurrencies designed for holding value against currencies such as US dollars or commodities like gold. They can avoid the volatility which makes digital tokens or impractical for daily commerce.
Designed to be a medium for the transfer of funds between bank accounts and cryptocurrency, SPRA is backed by US dollar deposits as well as gold. This increases exchange, ease of access as well as transparency. The backing of Spera is in contract with other coins having algorithmic or other backing mechanisms, impacting liquidity.
Glenda Dowie, CEO said that the company is dedicated to giving easy access to US-based stablecoin. Dowie added that the firm wants to position SPRA as the stablecoin of choice for the public.
APT Systems launched Spera on MainNet in April for working smoothly with the digital escrow application. This utilizes smart contracts for serving as a neutral third-party to ensure funds are released by both parties. Blockchain-supported part of Verifundr makes it suitable for smart escrow functions even as Spera gives an alternate to USD payments both for domestic and international transactions. APT Systems had earlier underscored “compliance as a growth strategy” to bring Spera coin to the market.
CEO Glenda Dowie said that the company has built Spera for complying with existing financial regulations as well as anticipated regulations. Dowie added that Spera was created to be a true stablecoin and its value will always be $1.
The company believes that compliance will be a potent market differentiator as both public and financial sector look for a true stablecoin. APT Systems, being a GAAP reporting public company, understands transparency and compliance.
Dowie further stated that the company feels vindicated by the recent market events for creating a U.S.-based compliant, which will position the firm in an expanding multi-billion-dollar market. The CEO added that compliance will serve as the rocket fuel for moving towards the launch.
Traders Corner
APTY stock is trading below the 20-Day and 50-Day Moving averages of $0.0067 and $0.0086 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0127.
