ContextLogic Inc WISH is trading higher Tuesday morning after the company announced it was granted a Payment Services License by the Dutch Central Bank.
The license will allow the company to process transactions, increase control over the payments value chain and reduce its reliance on third parties. It will be passported to the other European markets where the company operates.
ContextLogic said it will use the license to pay its European merchants directly. The company said it will also explore other payment services in the future.
See Also: ContextLogic Busts Up Through Bull Flag: What's Next?
Price Action: ContextLogic has traded as high as $32.84 and as low as 38 cents over a 52-week period.
At last check Tuesday, the stock was up 5.67% at $12.31.
Photo: courtesy of ContextLogic.
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