Benzinga | Oct 8, 2021 12:50PM EDT

GreenBox Breezes Past $1B Processing Volume

* GreenBox POS (NASDAQ:GBOX) processed over $1 billion in transaction volume in 2021, a threshold crossed during August, representing ~5x the total processing volume for all of 2020.

* GreenBox is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions.

* The launch of the Generation 3 technology, expansion of its ISO and agent network, and acquisitions of ChargeSavvy and Northeast Merchant Services all drove the exponential processing growth throughout the year.

* "As we continue to execute on our strategy with select acquisitions and the eventual adoption of our Coyni smart contract technology, we expect processing volume to continue to escalate rapidly," said CEO Fredi Nisan.

* Price Action: GBOX shares traded higher by 3.74% at $8.04 on the last check Friday.