Hemp-based health and wellness firm Thermic Science International Corporation, formerly known as Omnicanna Health Solutions, Inc., on Wednesday (Dec. 29) announced it has acquired an international hybrid banking company VIPOnline.
Thermic Science is expanding its footprint and launching the International Thermic Banking System as part of the transaction, according to a Yahoo! Finance report.
“With this acquisition, it gives an obvious advantage with a full arsenal of international banking services under our belt,” said Thermic Science President & CEO Raymond C. Dabney in the joint announcement. “Thermic Science is now a serious contender and in a serious position to propel itself beyond our past conglomerate growth considerations.
“We have already identified our next target acquisition to compliment VIPOnline and our expansion plans, we are in final negotiations, exciting growth times for all our company shareholders as integration creates more strength for sure,” he said.
Thermic Science intends to keep all VIPOnline staff and management in place and expand the $CSi-EDP Crypto ECO-System to include a full cryptocurrency wallet and backend cryptocurrency trading, trust and asset management capabilities.
Thermic Science will also offer mass consumer personal crypto wallet transaction protection through open reporting across the blockchain and all other traditional account reporting and reconciliation services.
Related: Real-Time Payments Are Coming — But Do We Need Crypto to Deliver It?
With the launch of the RTP® network by The Clearing House, the growth of FinTechs and the advent of cryptocurrencies, firms are jockeying to determine the future of payments. And suddenly, the payments space seems more of a major metropolitan area, said Rob Hunter, deputy general counsel of The Clearing House, a banking association and payments company owned by the largest U.S. commercial banks, in a PYMNTS TV TechREG conversation with PYMNTS CEO Karen Webster.
The Clearing House — which started in 1853 and clears and settles more than $2 trillion in payments every day — likely has the longest pedigree of any of those racing to accelerate how payments are made, cleared and settled in the U.S. The company started to formulate the ideas that would ultimately become the RTP network, a real-time payment system open to all U.S. financial institutions, in 2010.