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Image by Megan Rexazin from Pixabay
In today’s day and age, it seems as though business owners have to pose the question: What is existence without an internet presence?
In the world of e-commerce, retailers may not have a choice whether they want an online shop soon. Studies show that by 2040, 95% of sales will be through e-commerce, and the market is expected to generate $4.5 trillion in 2021 alone.
Even though e-commerce provides a space for shopping to be easily accessible and widespread, keeping up with its trends can be a feat in and of itself as they seem to change at the click of a button. It’s becoming more apparent that merchants need platforms that can adapt and grow with the times, not be stuck in the past.
For example, the CBD market, expected to hit upwards of $16 billion in sales by 2026, has faced many regulatory challenges and is in need of a flexible, adaptable product for its transactions. One enterprising e-commerce company, OLB Group (NASDAQ: OLB), recently signed a letter of intent (LOI) to acquire a portfolio of 1,200 CBD merchants that will use its SecurePay product during transactions. This group of merchants currently books estimated annual revenue of $300 million, with OLB Group anticipating around $13 million additional revenue from the deal and a contribution of $3.6 Million in EBITDA. With this acquisition, it will be well-positioned to address the financial transaction concerns of the growing CBD market.
OLB Group’s cloud-based services offer an attractive and innovative package for retailers and merchants looking to expand their businesses while still allowing brands to remain cohesive across a variety of channels. Noting acquisitions like the above, it’s no surprise that OLB Group’s increased scale revenue looks to nearly double to $25 million soon.
In addition, the company recently established its subsidiary DMint to mine green cryptocurrency, an environmental-friendly alternative to the typical crypto mining process. It’s no secret that the public can’t stop talking about the digital form of payment, capturing the attention — and wallets — of people all over the world. With a market expected to reach $1.79 billion by 2027, big-name companies like Microsoft (NASDAQ: MSFT), Overstock (NASDAQ: OSTK), Starbucks (NASDAQ: SBUX) and Xbox (NASDAQ: MSFT) have, not surprisingly, begun to accept cryptocurrency as a form of payment.
Through DMint, OLB Group is determined to empower its merchants with crypto commerce, recently announcing its plans to bring 1,000 crypto mining machines online this year. Its environmental impact will be close to zero, thanks to purchasing natural gas yields directly from wells in Bradford, Pennsylvania, to generate the necessary electricity. Once the machines are online, they are expected to process 100 petahash per second, or around 10 Bitcoin per month, yielding almost .1 million in 2021 alone.
OLB Group has already added instant payments through social media apps, established a non fungible token (NFT) platform, and now supports cryptocurrency through its SecurePay product, demonstrating its ability to not only survive but thrive in the everchanging e-commerce space.
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