Blockchain Implementation is Goal For Mint Strategic Advisor Minaz Sarangibr>
The Mint Corporation has appointed Minaz Sarangi as strategic advisor, helping the firm transition its existing platform to the blockchain.
Mint is a globally certified payments company headquartered in Toronto, Canada, with its primary business in Dubai, United Arab Emirates (UAE). Mint processes over US$1 billion in payroll annually for hundreds of corporate clients and financial institutions, and the Mint community consists of approximately 400,000 cardholders.
Sarangi has over 30 years of experience as an executive, CIO, CTO and chief architect delivering technology projects globally for banks, insurance companies and Fintech start-ups. Sarangi now advises companies on innovation and strategy relating to digital transformation, blockchain, crypto currency and artificial intelligence technologies.
Sarangi’s previously worked for Lombard Insurance, Zurich Financial Services, ING Group, TD Bank, and for the fintech startup Mozido, which raised $285 million in funding.
“We are pleased to welcome Mr. Sarangi to the Mint team,” said says Vishy Karamadam, CEO of The Mint Corporation. “Mr. Sarangi’s experience building major platforms for blue-chip financial organizations will be invaluable as Mint continues to grow its global payments business. We are excited to gain global best practices from Mr. Sarangi as Mint integrates blockchain technology into Mint’s existing technology platform.”
“I’m thrilled to be working with the MINT Executives to bring new and exciting Financial Service products built on blockchain technologies that will serve the unbanked and underbanked,” said Sarangi. “MINT is a forward-looking organization that is in a unique position to leverage blockchain technologies to lower cost and risk while increasing security and efficiency.”
The Mint Corporation (TSXV:MIT), through its majority owned subsidiaries (the “Mint Group”), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, United Arab Emirates (UAE). The Mint Group is approved by the UAE Central Bank, Mastercard and UnionPay as a third-party payment processor. Mint processes over US$1 billion in payroll annually for hundreds of corporate clients and financial institutions and the Mint community consists of approximately 400,000 cardholders. Mint’s clients include some of the leading blue-chip companies in the UAE.
Mint provides employers with automated payroll services and a proprietary Automated Teller Machine (ATM) network for their unbanked employees. Mint community members are issued a personalized, globally accepted, Mastercard or UnionPay card and a linked mobile wallet, where their salaries are deposited. This mobile wallet effectively becomes the employee’s bank account.
Mint intends to offer a comprehensive suite of services through the mobile wallet, including remittance, overdraft, loans, mobile phone top-up, rewards, and insurance, among others. The mobile wallet enables unbanked employees to purchase services and spend through the wallet.
Forward looking Statements
This news release contains forward-looking statements. Forward-looking information include statements with respect to developing intellectual property and applications leveraging blockchain technology with Mint’s existing FinTech platform and Mint’s intention to offer certain services. The forward-looking statements are based on certain expectations and assumptions made by Mint. Although Mint believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because Mint can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. The use of blockchain technology by the Mint Group will require modifications to Mint Group’s existing technology platform. Mint must obtain the expertise necessary for that purpose, modify its platform, complete testing and obtain regulatory approvals, prior to launching blockchain enabled services. The offering of overdrafts and loans by Mint will require regulatory approval in the UAE, the participation of a UAE licensed financial institution and modifications to the Mint technology platform and procedures. The forward-looking statements contained in this press release are made as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Mint Corporation