ALT5 Sigma partners with Odoo for crypto payments

LAS VEGAS - ALT5 Sigma Corporation (NASDAQ:ALTS), a fintech company specializing in blockchain technologies with a market capitalization of $92.86 million, has announced a partnership with Odoo, a leading provider of integrated business applications. The company’s stock has shown remarkable momentum, delivering a 1,031% return over the past year. According to InvestingPro, ALT5 maintains a "GOOD" overall financial health score. This collaboration aims to integrate ALT5 Pay, ALT5 Sigma’s cryptocurrency payment gateway, into Odoo’s suite of business applications, which includes POS, eCommerce, and ERP systems.

The partnership is set to benefit Odoo’s extensive user base, which spans across 170 countries and includes over 13 million users ranging from startups to large enterprises. With the integration of ALT5 Pay, Odoo customers will be able to accept a variety of cryptocurrencies as payment, using simple API connections and widgets developed by ALT5 Sigma.

Wilfried Juncker, Head of Channel and Alliance North America at Odoo, commented on the partnership, highlighting the company’s commitment to innovation and the added value this integration will bring to Odoo’s ecosystem. Peter Tassiopoulos, CEO of ALT5 Sigma, expressed his company’s honor in being selected by Odoo and anticipates advancing blockchain adoption through this initiative.

ALT5 Sigma has processed over $2 billion in cryptocurrency transactions in 2024 and offers two main platforms: ALT5 Pay and ALT5 Prime. With revenue of $7.11 million in the last twelve months and an impressive gross profit margin of 48.65%, the company has demonstrated strong operational efficiency. ALT5 Pay allows merchants to accept and make cryptocurrency payments with options to convert to fiat currency, while ALT5 Prime is an over-the-counter trading platform for buying and selling digital assets. For detailed financial analysis and additional insights, consider exploring InvestingPro, which offers exclusive ProTips and comprehensive metrics.

Odoo, supported by investors such as BlackRock (NYSE:BLK), Sequoia Capital, General Atlantic, and Mubadala, has established a strong presence in the business software industry since its inception in April 2002. The company is known for its intuitive software that empowers companies to improve customer satisfaction and scale operations efficiently.

The forward-looking statements in the press release from ALT5 Sigma Corporation include potential risks and uncertainties that could affect the company’s future performance. The company’s stock has gained 41.94% year-to-date, showing strong market confidence despite its beta of 1.86, indicating higher volatility than the overall market. These factors are detailed in the company’s SEC filings and are subject to change.

This news article is based on a press release statement and is intended to provide factual information regarding the partnership between ALT5 Sigma Corporation and Odoo.

In other recent news, ALT5 Sigma Corp has announced its intent to acquire Soin Bioscience LLC’s innovative "clear patch" pain medication technology. This move is part of ALT5’s strategic expansion in the biotech sector and aligns with its previously declared intention to separate its biotech operations from its fintech business by the first half of 2025. The acquisition is contingent upon thorough due diligence, tax structuring, and the finalization of definitive agreements.

ALT5 Sigma Corporation has also reported record-breaking transaction volumes for September 2024, surpassing $240 million, a 151% increase year-over-year. This surge contributes to a robust year-to-date total of about $1.5 billion. Furthermore, ALT5 Sigma disclosed plans to split into two separate entities, spinning off its biotech business into Alyea Therapeutics Corporation, which will focus on non-addictive pain management therapies.

In addition to these developments, ALT5 Sigma has added Ron Pitters, with a 20-year background in global fintech and financial services, to its Board of Directors. Alyea Therapeutics, the newly formed company, plans to initiate a large-scale multicenter clinical trial for its lead candidate, JAN123, a non-addictive pain management therapy. These are among the recent key developments at the company.

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