Alpha Modus entered IP license agreement with Xalles Holdings

Alpha Modus announced it has entered into an intellectual property license agreement with Xalles Holdings and its wholly owned subsidiary CashXAI. CashX, through its proprietary self-service kiosks and mobile application, allows the unbanked and underbanked communities access to financial services, including digital currency. The license agreement licenses to Xalles and its subsidiary, CashX, the exclusive right to use all of Alpha Modus’ patented intellectual property in connection with CashX’s promotional, advertising, and operational functions, including co-development arrangements with Alpha Modus, within the Exclusive Industry. The “Exclusive Industry” means the industry relating to self-service kiosks located in retail food, drug and convenience stores for the purpose of serving Unbanked and Underbanked consumers, by offering banking, phone and insurance solutions to the consumer. Effective as of October 13, 2023, Alpha Modus entered into a business combination agreement with Insight Acquisition Corp, pursuant to which Alpha Modus would be acquired by Insight