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LAS VEGAS - Bullet Blockchain, Inc. (OTC:BULT), a micro-cap company with a market value of $25.58 million, announced Monday a partnership with Swiss-based hardware wallet provider Tangem to distribute secure cryptocurrency wallets to its customers. According to InvestingPro data, the company’s stock has shown strong momentum with a 46.55% return over the past six months.
The collaboration will allow Tangem users to access cryptocurrency trading and other services through Bullet Blockchain’s network. Tangem’s hardware wallets utilize Near Field Communication technology and support over 16,000 cryptocurrencies across more than 85 blockchains. InvestingPro analysis indicates the company maintains a "GREAT" financial health score of 3.17, though investors should note the stock typically trades with high price volatility.
Bullet Blockchain, which describes itself as one of only three publicly traded Bitcoin ATM network operators in the U.S., operates over 200 Bitcoin ATMs that allow users to purchase and sell cryptocurrencies using cash, debit, or credit cards.
The company holds two patents it describes as foundational to Bitcoin ATM operations: U.S. Patent No. 9,135,787 and U.S. Patent No. 10,332,205, which it acquired through its subsidiary First Bitcoin Capital LLC.
"We are thrilled to partner with Tangem to bring our patented Bitcoin ATM technology and secure hardware wallets to a wider audience," said Simon Rubin of Bullet Blockchain in the press release statement.
Tangem, founded in 2017 and headquartered in Zug, Switzerland, has issued more than 4 million hardware wallets across 170 countries, according to the company. Earlier in 2024, Tangem entered the wearables market with the Tangem Ring, a blockchain smart ring offering self-custody capabilities.
The announcement comes as Bullet Blockchain also integrates Silo Technologies’ supply chain management solutions to enhance its operational efficiency. The company’s stock has demonstrated positive momentum, with a year-to-date return of 26.09%. For deeper insights into BULT’s financial health and additional investment analysis, consider exploring InvestingPro, which offers exclusive financial metrics and expert tips.
The information in this article is based on a press release issued by Bullet Blockchain.
In other recent news, Bullet Blockchain, Inc. announced a strategic growth plan aimed at expanding its Bitcoin ATM network operations across the United States. The company detailed a four-pillar approach that includes initiatives for operational expansion, leadership enhancement, capital acquisition, and strategic partnerships. Bullet Blockchain is one of only three publicly traded Bitcoin ATM network operators in the U.S. These developments reflect the company’s focus on strengthening its market presence and operational capabilities. The outlined strategy suggests a commitment to growth and adaptation in the rapidly evolving cryptocurrency landscape. Investors may find these initiatives noteworthy as they highlight Bullet Blockchain’s efforts to enhance its infrastructure and leadership team. The company’s emphasis on capital acquisition and partnerships indicates a proactive approach to scaling its operations.
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