One other thing I will add is that Prasos (large crypto trader) appears to be fully live and intergrated. I was able to go through the full ISX process, including card payments on their website Coin Motion.
Prasos had not previously offered cards as a deposit option so ISX have not entered into a contract with an associated GPTV volume expectation written into it. None the less I believe ISX expect Prasos to generate quite a bit in GPTV - though Crypto has lost some of its shine so expectations around Prasos may not be quite as high as previously thought. None the less this is revenue that will come in on top of the 'contracted' GPTV of $880mil.
Also for those that want a better understanding of what 'contracted' GPTV is I checked with JK a while back:
After due dilligence is conducted an agreement is reached with a merchant based on what their expected GPTV will be. Say a merchant states they will acheive a minimum of $100mil GPTV annually. ISX will contract and offer terms based on that projected volume. Obviously you would expect merchants with higher volumes will likely get a better MSF rate. So the agreed GPTV is what they are 'contracted' to.
If after ramp up period the merchant doesn't acheive volumes they have contracted to then ISX will revert them to a higher nominal MSF rate. So there is a motivation for merchants to direct at least their contracted GPTV to ISX to maintain their negotiatied MSF. On the flip side, obviously merchants are able to process above their contracted GPTV and are likely to as they grow/direct more processing to ISX.
ISX Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
