Money Swap Exchange, a wholly-owned subsidiary of Asia-focused prepaid card and online payment services provider MoneySwap, issued convertible loan notes totalling 1.1m dollars, according to an announcement made by the company on Friday morning.
The funds received from the loan notes will be used to invest in the group's IT and payment systems as well as to continue to develop the group's new lines of business in co-operation with China UnionPay. Any remaining funds will be used for general working capital purposes.
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