APT Systems Inc. (OTCMKTS:APTY) is in a range as the company continues preparations to release its stablecoin, Spera, including adopting a new symbol SPRA.
Market Reaction
On Friday, APTY stock jumped 4% at $0.0174 with more than 12.17 million shares, compared to its average volume of 24.25 million shares. The stock has moved within a range of $0.0150 – 0.0175 after opening the trade at $0.0175.
Continued Progress for Spera Stablecoin
CEO Glenda Dowie said that the company is capitalizing on recent tech advancements to develop a robust and better Sperastablecoin.Dowie added that once APT Systems finalizes development, they will validate Spera through a security test to ensure it is safe for circulation. After that, the company management will confirm the initial release date of the stablecoin, and for now, APT Systems has released a white paper.
Spera, which APT Systems is developing, will work in tandem with its application for converting US Dollars to Spera within the Verifundr escrow application that utilizes smart contracts to serve as an impartial third party to ensure the release of funds when both parties meet their contractual obligations. Verifundr’s blockchain-based architecture makes it excellent for escrow and related payment activities, and the fiat-backed Sperastablecoin provides customers with liquidity and volatility protection. APTY is worth watching in the coming days.
Key Quote
“We are taking advantage of recent technological developments to create an even better and more robust Spera stablecoin,” says Glenda M. Dowie, Founder and CEO. “Once the company completes its development, a security test will validate that Spera is safe for circulation and management will announce its initial release of the digital coin. In the interim, we will release an updated white paper.”
Traders Review
APTY stock is trading above the 20-Day and 50-Day Moving averages of $0.0193 and $0.0183 respectively. However, the stock is trading below the 200-Day moving average of $0.0090. The stock is up 61% over the past quarter.
