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abpay will enable retailers to easily and securely accept bitcoin payments without having to deal with cryptocurrencies themselves. In doing so, abpay will guarantee retailers always the fixed pay-out amount in euro without any exchange rate risk and will be suitable for online shops as well as in-store shops and restaurants.
Smartwallet will allow private customers to receive, exchange, store and send all kinds of fiat, crypto and digital currencies. To this end, smartwallet will offer a simple and easy-to-use interface that integrates all currencies and helps users to carry out their everyday financial transactions easily and securely - in whatever currency.
Advanced Bitcoin Technologies AG improved its earnings position and strengthened its liquidity in the financial year from January 01st to December 31st, 2024. At Group level, the net loss was reduced to EUR -289k (financial year 2023 (py) EUR -1,580k) and cash flow increased to EUR 670k (py: EUR 1k). In addition, important progress was made in the ongoing enforcement of the legally enforceable crypto transfer claim against the unlawfully acting former trustee of the Initial Coin Offering (ICO) of savedroid AG.
Consolidated sales increased to EUR 126k (py: EUR 39k) due to the increased business volume of the Bitcoin-Payment-Gateway abpay (formerly SecPay.io) of the wholly owned Group subsidiary in Liechtenstein abpay GmbH (formerly savedroid FL GmbH). The operating result (EBITDA, defined as revenue plus other own work capitalized, other operating income, less cost of materials, personnel expenses and other operating expenses) improved to EUR 1,137k (py: EUR -172k). The positive EBITDA mainly resulted from higher capital gains from cryptocurrencies in the amount of EUR 989k (py: EUR 592k), the reversal of liabilities from SVD-tokens sold as part of the savedroid ICO in the first quarter of 2018 in the amount of EUR 473k (py: EUR 0), and Group-wide cost savings. Applying the LiFo method (Last in, First out) and taking into account the historical acquisition costs as the upper value limit, crypto assets amounted to EUR 7,595k as per December 31st, 2024 (py: EUR 7,999k), while the corresponding market value was EUR 41,361k and currently amounts to around EUR 34m.
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