TNC Group announced in mid-July that it will be performing mergers and acquisitions (M&A) with at least 500 cryptocurrency and blockchain companies to “unite the cryptocurrency world.”
The announcement was made by its CEO Bruce Jeong during an event at the Rockefeller Center in New York City. During the said event, Bruce provided the core objectives of TNC, which encompasses M&A, blockchain solutions, token development, and the establishment of a blockchain academy. About 200 influencers and personalities in the crypto industry attended the event.
These large scale M&A plans, upon implementation, would make the use of the blockchain technology and cryptocurrencies more mainstream and conventional, the group claimed.
Consequently, a press release published on CoinTelegraph said that TNC will be merging with the said number of companies before this year concludes. To do so, it is appraising over 1,700 blockchain companies listed on CoinMarketCap to search for 500 crypto companies which it sees technological potential in.
TNC is currently invested in a couple of blockchain projects. Specifically, the group is supporting the upcoming online shopping platform named Buyaladdin. According to Bruce, the platform integrates over 50 of the biggest e-commerce marketplaces in the world. Among them are household names such as Amazon, eBay, Rakuten, and Coupang mall all made accessible under one app.
What is revolutionary about the app, Bruce explained, is that it fully empowers cryptocurrencies as a means to pay for online purchases through the app.
Aside from premier cryptocurrencies like Bitcoin and Ethereum, the shopping app will be legitimizing TNC’s native token as a payment method, which is also currently being developed as well.
“It will be like a boom!” Bruce exclaimed, referring to the impact which Buyaladdin will have not only on the crypto sphere, but to the e-commerce sector as well.
Another project that TNC has invested in is the Aladdin Wallet, a multi-crypto wallet created by the ABBC Foundation. The group has invested $5 million for its launching. It also seeks to invest on more blockchain companies to help drive blockchain integration across various sectors specifically fintech, finance, information technology, commerce, public relations, and more.
So far, the organization offers various solutions to companies struggling with blockchain adoption through blockchain consultation, token listing, blockchain security, blockchain development, and more. As more companies are being merged with and acquired by the organization, more services are expected to be added in the future.
Also, Bruce revealed that they have inked a partnership with the micronation Liberland, wherein they will assist the latter in their blockchain implementation. Also, they plan to establish a blockchain academy in the said nation to educate the younger generation regarding the said technology.
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I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.