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AI payments and data firm FUTR will own 75 per cent of the joint venture, which it will pay for by issuing up to 15 million shares to digital banking company EQITrade, subject to performance incentives. FUTR, which trades on the TSX Venture Exchange, closed at $0.16 Monday. (The Logic)
Talking point: The companies plan to use the joint venture to add a digital banking platform to FUTR’s app, offering traditional banking products like deposits and cards as well as crypto trading and lending. FUTR’s app, currently in testing mode, offers an AI agent that rewards users with crypto tokens for uploading documents and uses that data to make payments, negotiate insurance rates and perform other tasks on a user’s behalf. EQITrade owns digital bank EQIBank, which will power these services behind the scenes. FUTR’s CEO, Alex McDougall, was previously CEO of Stablecorp, the firm that issues QCAD, a Coinbase-backed Canadian-dollar stablecoin.
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