iQSTEL (IQST.OTC) eyeballs the future with network interconnection deal in Switzerland

iQSTEL (IQST.OTC) telecommunications subsidiary, SwissLink, is implementing network interconnection in Switzerland, according to a press release.

Switzerland isn’t a member of the European Union, but still gets special treatment for international telecommunications traffic among European nations. The Swiss network connection will help the company reduce costs and improve service quality. This is a sensible move for iQSTEL because their SwissLink operations are one of their top gorss margin contributors, and the network connection is expected to boost that contribution.

“SwissLink holds a special place in the heart of iQSTEL because it was our first acquisition when we implemented our merger and acquisition growth strategy. SwissLink’s continued growth adds a bit of poetry to our business and inspires our imagination for an overall bigger and brighter future,” said Leandro Iglesias, iQSTEL CEO.

iQSTEL is a what now?

It’s hard to determine what iQSTEL is, exactly. Broadly speaking, they’re an umbrella company encompassing telecommunication, tech and fintech for global markets with a footprint spanning 13 countries. The list of services they provide stretch from their core—telecommunications, but go into such disparate areas as electric vehicles (EV), liquid fuel distribution, and the chemical and financial services industries. They have four business divisions, including telecom, tech, fintech and blockchain, offering worldwide business to business and business to customer relations through its seven subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain.

The company’s portfolio of products and services include such items as SMS, voice over IP services, both 4G and 5G, but also enter into Cloud computing, multiple IoT platforms, a Visa Debit Card, the remittances market, and two blockchain platforms—and this isn’t an exhaustive list.

Regardless, their year to date revenue by the end of February 2021 has boosted some 273% at $9.65 million compared to $3.53 million for the same period last year. The company’s revenue forecast for 2021 is $60.5 million as they consolidate their telecom subsidiaries under a single brand to improve marketing possibilities and efficiencies, and then look to the future with their other growing, high margin businesses.

—Joseph Morton

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