ASX:KLV

5 stories mentioning ASX:KLVUpdated 32d ago

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Klevo Rewards' Fly Wallet Subsidiary Reports Nearly AU$18 Million of Stablecoin Sales in July; Shares Gain 7%

Klevo Rewards (ASX:KLV) said its Fly Wallet subsidiary recorded revenue of about AU$19 million in July, including roughly AU$17.8 million of stablecoin sales, according to a Wednesday filing with the Australian bourse.The subsidiary also reported a July operating profit of AU$167,000.Klevo Rewards said it has started a commercial rollout of its stablecoin, but warned that it does not consider trial volumes to be a reliable indicator of expected activity once the platform is fully integrated.The company's shares rose 7% in recent Wednesday activity.

ASX:KLV

Asia55d ago

Klevo Rewards Completes AU$150,000 Acquisition of Just Ask Solar

Klevo Rewards (ASX:KLV) completed the acquisition of Just Ask Solar, which holds Australian Credit Licence no. 483627, for total cash consideration of AU$150,000, according to a Monday Australian bourse filing.Just Ask Solar is now a unit of the firm, and it will begin the integration of the licensed entity into the group and progress the regulatory, compliance, and operational frameworks required before undertaking any new credit activities.It is also progressing the finalization of due diligence regarding the proposed acquisitions of the holders of Australian Financial Services Licenses, ASFIN Funds Management, and Point Capital Group.Its shares fell 1% in recent trading on Monday.

ASX:KLV

Asia62d ago

Klevo Rewards' Stablecoin Platform Trial Generates Over $1 Million in Gross Revenue; Shares Up 28%

Klevo Rewards (KLV) completed a 14-day commercial trial of its stablecoin transaction platform, with the platform processing and generating about $1.2 million in gross revenue during the trial period, according to a Monday Australian bourse filing.In a separate filing, the company said the net financial impact of the trial was nominal due to initial technology, implementation, compliance, and operational ramp-up costs incurred during the trial period, while margins are expected to improve as transaction volumes increase and establishment costs are spread across the broader commercial rollout.Actual margins will remain dependent on transaction volumes, pricing, operating costs, and the timing and scale of the rollout, it added.The company's shares rose past 28% in recent Monday trade.

ASX:KLV

Asia90d ago

Klevo Rewards Plans Stablecoin Trial Launch by June 30; Shares Fall 4%

Klevo Rewards (ASX:KLV) said it plans to launch a trial of its KLVAUD Australian dollar-backed stablecoin by June 30, according to a Monday filing with the Australian bourse.The company's Fly Wallet subsidiary received legal advice indicating that the stablecoin may qualify as an eligible stablecoin under the current regulatory framework, subject to conditions, per the filing.KLVAUD is planned to be fully backed one-to-one by Australian dollars held in segregated reserve accounts, and aims to support Fly Wallet's broader payments system, the company said.Klevo Rewards shares fell 4% in recent Monday trade.

ASX:KLV

Asia94d ago

Klevo Rewards Names Chief Investment Officer

Klevo Rewards (ASX:KLV) appointed Andrew Shi as an executive director and Chief Investment Officer of the firm, effective Wednesday, according to a Thursday Australian bourse filing.Its shares rose 1% in recent trading on Thursday.

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