The crypto industry has grown in popularity at a remarkable clip in recent times and it is no wonder that many companies are trying to enter that space now.
Last week, Majiv Wheels Corp (OTCMKTS:MJWL) announced that it signed a binding letter of intent in relation to the acquisition of CGCX Ltd, which is a crypto exchange and custody solutions platform. The company generates revenues of $150 million and marks the entrance of Majiv Wheels into the crypto industry.
The announcement was made by the company last Friday and on Monday, the Majiv Wheels stock enjoyed a strong rally that resulted in gains of as much as 95%. CGCX or Calfin Global Crypto Exchange had been established back in 2018 and had been intent on providing highly specialized crypto related services to its clients. In its custody solutions business, CGCX has emerged as a pioneer and is one of the first companies to have come up with insurance services. Investors could keep an eye on the Majik Wheels stock this morning and see if it can ad to its gains.