A small Vancouver-based tech firm just announced that the company has entered into a non-binding letter of intent with UniCrypt Group AG to collaborate on the provision of cryptocurrency services to users of the company’s suite of mobile applications, according to the release. UniCrypt is one of Europe’s largest non-custodial wallet providers by user numbers, providing wallet and crypto-based remittance services to more than 14 million clients world-wide. Shares of Hello Pal International Inc. (OTCQB:HLLPF) rallied strongly on the news.
Hello Pal is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. It has been designed from the ground up to be easy to use and enables users’ the freedom to speak in their own language regardless of the other person’s language they are speaking to. The company’s mission is to bring the world closer together through social interaction, language learning and travel. The company generates revenue from sales of virtual items in the live streaming platform.
Traders were bullish on the news as shares climbed up to $0.2848/share (+17.69%) at the session high. This move is a continuation of the potential trend reversal that has been unfolding over the last month as shares attempt to breakout of their multi-month downtrend.