Los Angeles, CA, July 18, 2019 (GLOBE NEWSWIRE) — CurrencyWorks™ (TSXV and OTCQB: CurrencyWorks™), which designs, builds and manages digital currencies so organizations can grow their businesses by attracting, engaging and retaining customers through the creation of their own digital currency, provided a recap of company and partner highlights for Q2 2019.
CurrencyWorks™ announced the launch of Cathio Inc., to transform the way the Catholic economy moves money.
Cathio also announced a stellar Board and Advisors including former Senator Rick Santorum (former US Republican Presidential candidate) and Ambassador Jim Nicholson (former US Ambassador to the Holy See – Vatican). Cathio also announced MOUs for 4 customer engagements and we expect to see more product and customer announcements over the coming quarters. Cathio is a subsidiary of CurrencyWorks™.
For more information on Cathio, please visit: www.cathio.com
CurrencyWorks™ announced sBetONE Inc, focused on opportunities in the rapidly expanding US regulated sports betting market.
sBetOne is developing opportunities for regulated celebrity-endorsed sports betting platforms in the high growth sectors, initially for golf betting and eSports betting in the US. We also announced a strong Advisory Board for sBetOne including Gabe Hunterton (former President City of Dreams Casino Macau and former National Director Marketing for Bellagio Las Vegas), David Flynn (former senior leadership roles at Ongame, NYX Gaming, VeraJohn.com and involved in over $1B in exits in the online gaming sector); Ashley Sandyford Sykes, former Executive Vice President Digital Games at Scientific Gaming and product owner for major casino and sports betting platforms; Rick Dugdale Independent film producer and President & CEO of Enderby Entertainment; and Aaron Wagner founder and Managing Partner of Wags Capital. We look forward to further product and project developments in the coming quarters for sBetOne. sBetOne is a subsidiary of CurrencyWorks™.
For more information on sBetOne, please visit www.sBetOne.com .
Our partners BitRail and Freedom Coin and their regulated blockchain payment platform for stable coins, made great progress in June with the granting of additional money transmitter licenses and live testing of its end-to-end blockchain payment platform. BitRail’s first signed customer is Freedom Coin, serving a community of 4.7M registered users transacting over $650M annually. This could position Freedom Coin to become one of the most retail-transacted cryptocurrencies in US in the next 12 months.
For more information on BitRail, please visit www.BitRail.io
Our partner RYDEHolding Inc. the operator of the KODAKOne Platform announced that KODAKOne is now to have begun earning revenues.
RYDE Holding Inc. is servicing more than 22 customers live on the KODAKOne Post-Licensing Platform (PLP) and producing daily revenues for their clients. Ryde Holding Inc. also announced a partnership agreement with Image Protect, targeting to add 75 additional customers on the KODAKOne PLP. For more information on KODAKOne, please visit www.kodakone.com. (RYDE Holding, Inc. is a brand licensee of Eastman Kodak Company)
Major blockchain industry headlines with Facebook’s Libra Coin
Blockchain and branded digital currencies made global news in June with Facebook’s announcement of the Libra Coin and their Calibra digital wallet, reinforcing JP Morgan’s JPM Coin announcement earlier in 2019, with both firms looking to bring crypto mainstream by adopting regulated stable coins. This marks a seminal moment for the blockchain and branded digital currency space and in 2019, we expect more and more brands to follow the stable coin model designed for retail audiences, pioneered by CurrencyWorks™ and our partners. It is welcome to hear the external validations of our model and we remain confident we are on the right path for developing branded digital currencies in compliance with federal and state regulations.
Our experienced CurrencyWorks™ team, solid blockchain infrastructure offerings for both digital wallets and digital currencies and ability to announce new projects in high growth areas, positions CurrencyWorks™ well to partner with the Fortune 5000 brands and large organizations seeking to launch their own branded digital currencies, following the move by Facebook, JP Morgan and others to bring blockchain and cryptocurrencies into the mainstream .
CurrencyWorks™ (TSXV and OTCQB: CurrencyWorks™) creates and manages digital currencies for innovative brands to grow their businesses – attracting, engaging and retaining their customers through the creation and use of their own digital currency. CurrencyWorks™ enables brands to provide additional payment options at lower costs while owning more of the transactional data chain and driving new models for customer loyalty. CurrencyWorks™ leverages its expertise in blockchain technology and regulatory compliance to deliver branded digital currencies for its clients.
For more information on CurrencyWorks™, please visit us at: www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching symbol CurrencyWorks™.
Bruce Elliott, President
Arian L. Hopkins
Phone: 424-570-9446 ext. 2
Phone: 424-570-9446 ext. 8
Jeff Ramson / Stephanie Prince
Disclaimer for Forward -Looking Statements
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the statements: that we expect to see more product and customer announcements from Cathio over the coming quarters; that we look forward to further product and project developments in the coming quarters for sBetOne; that Freedom Coin could become one of the most retail-transacted cryptocurrencies in US in the next 12 months; that Ryde Holdings is targeting to add a potential 5000+ cases, 75 potential additional customers and estimated infringement claims of over $5 Million over the next 24 months on the KODAKOne PLP platform; that we expect more and more brands to follow the stable coin model designed for retail audiences, pioneered by CurrencyWorks™ and our partners; and that CurrencyWorks™ is well positioned to partner with the Fortune 5000 brands and large organizations seeking to launch their own branded digital currencies.
The material assumptions supporting these forward-looking statements include, among others, that there will be no material variations in current regulatory environments in which CurrencyWorks™, its subsidiaries, or any of its partners operate; that Cathio will be able to develop more products and enter into engagements with additional customers over the coming quarters; that sBetOne will be able to create further develop products and projects in the coming quarters; that Cathio, sBetOne, BitRail, and Ryde Holdings will be able to obtain any necessary financing on acceptable terms; the continued rapid expansion of the US regulated sports betting market; that the Freedom Coin platform will be operational on the expected timeline; and that more brands will wish to follow the stable coin model designed for retail audiences.
Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Freedom Coin platform will not be operational on the expected timeline; the risk that there may be negative changes in general economic and business conditions; the risk that CurrencyWorks™, its subsidiaries, or its partners may have negative operating cash flow and not enough capital to complete proposed projects; the risk that CurrencyWorks™, its subsidiaries, or any of its partners may not be able to obtain additional financing as necessary; the risk the cryptocurrency and other trading platforms are relatively new, largely unregulated and may not be accepted by the public as a payment platform; the risk that the Cathio, Freedom Coin, and KODAKOne PLP platforms may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain and cryptocurrencies fields that make the Cathio, Freedom Coin, and KODAKOne PLP platforms obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the Cathio, Freedom Coin, and KODAKOne PLP platforms or the US regulated sports betting market; the risk that other competitors may release platforms similar to the Cathio, Freedom Coin, and KODAKOne PLP platforms; and other general risks involved in the cryptocurrency industry. Any of these risks may cause CurrencyWorks™ actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, although CurrencyWorks™ has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and CurrencyWorks™ assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although CurrencyWorks™ believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.