Epazz Inc. (OTC: EPAZ) has acquired blockchain android app CryptoFolio, which tracks and manages Bitcoin and Altcoin portfolios and allows users to fully control their cryptocurrency holdings.
The Chicago-based provider of crypto apps and solutions will allow CryptoFolio to operate somewhat independently with its own brand.
CryptoFolio app supports over 1,600 cryptocurrencies, which can be converted into over 50 fiat currencies. It has been downloaded more than 3000 times from the Android Play Store. It provides free features to attract subscribers and then charges fees from $1.99 to $5.99 to allow users to purchase additional features. The combined app will also be offered in a free edition supported by ad revenue and a paid edition sold for $2.49.
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This acquisition is part of Epazz’s effort to help people accomplish more with its blockchain solution, ZenaPay, which boasts online and in-store Bitcoin purchase capability using proprietary software. CryptoFolio’s user base will help grow ZenaPay’s business as the company plans to add other blockchain apps in a bid to create new sources of revenue.
Epazz plans to add more cryptocurrencies and languages to CryptoFolio to attract more users, and announced that it will bring the app to iOS devices later this year.
ZenaPay is set to roll out the new version of its blockchain app on May 30, 2018, which will allow users to see a summary of their Bitcoin and Ethereum investments immediately to determine which cryptocurrency to use when making transactions. The company charges a one percent transaction fee through its point-of-service (POS) solution.
Shaun Passley, CEO of Epazz Inc, commented: “The synergies with ZenaPay and CryptoFolio are clear. CryptoFolio users will benefit from ZenaPay. We will add mobile apps through acquisition or internal development over the next few months. We believe blockchain is a very large industry, and we will use our skills to expand into this market.”