Fintech
CurrencyWorks, Odyssey Trust and the Canadian Securities Exchange (CSE) Announce a Security Token Reporting System
Toronto, Ontario and Los Angeles, California–(Newsfile Corp. – December 16, 2020) – CurrencyWorks Inc. (TSXV: CWRK) (OTCQB: CWRK) (“CWRK” or “CurrencyWorks”), builds and operates FinTech Platforms as a Service for digital currencies, security tokens and digital assets, today announced the development of a security token reporting system that can be immediately deployed to drive value for public issuers. The blockchain platform has been developed through a partnership between CurrencyWorks, the Canadian Securities Exchange (the “CSE”) and Odyssey Trust Company (“Odyssey Trust”).
A unique security token can be associated with each issuer on the CSE that opts into the platform, enabling Odyssey Trust to provide issuers with deeper reporting information and enhanced transfer agent services. The blockchain reporting system will run parallel to the existing clearing and settlement services for CSE issuers.
CurrencyWorks will provide various integration services, as well as Testnet and smart contract platforms. These will be used to test and validate the process of issuing security tokens.
Cameron Chell, Chairman of CurrencyWorks, stated: “Security tokens are gaining increasing acceptance in jurisdictions around the world, providing issuers and investors with an innovative way to create value and liquidity. We are pleased to partner with Odyssey Trust and the CSE to launch this system.”
Bruce Elliott, President of CurrencyWorks, said: “This exciting announcement highlights the tremendous value inherent in security tokens. We see security token offerings as an ideal vehicle for resource companies seeking to raise capital by utilizing their reserves, or future sales, without diluting their current equity. They should also be appealing to companies in the pharmaceutical and technology industries as well as any company with a recurring revenue model.”
Richard Carleton, CEO of the CSE, said: “The CSE is committed to leading international exchange markets in the listing and trading of regulated security tokens, and we are pleased to be collaborating with CurrencyWorks and Odyssey Trust to support the infrastructure enabling security token offerings in Canada. We have seen tremendous interest in security tokens among both existing and potential CSE issuers.”
Jenna Kaye, CEO of Odyssey Trust, added: “We believe this innovative platform is capable of delivering improved liquidity, greater market access, and long-term efficiencies.”
For more information on this announcement, please contact Bruce Elliott at [email protected].
About CurrencyWorks
CurrencyWorks Inc. (TSXV: CWRK) (OTCQB: CWRK) is a publicly-traded company which builds and operates FinTech Platforms as a Service for digital currencies, security tokens and digital assets.
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 CWRK.
Media Contact
Arian Hopkins
[email protected]
Company Contact
Bruce Elliott, President
Phone: 424-570-9446
[email protected]
Investor Inquiries
Phone: 424-570-9446 ext. 8
[email protected]
About the Canadian Securities Exchange:
The Canadian Securities Exchange is a rapidly growing stock exchange focused on working with entrepreneurs to access the public capital markets in Canada and internationally. The Exchange’s efficient operating model, advanced technology, and low fee structure help companies of all sizes minimize their cost of capital and maximize access to liquidity.
The CSE fosters positive working relationships with issuers, providing superior responsiveness to their specific needs. It offers investors in Canada and abroad access to a multi-sector stable of growth companies through a liquid, reliable, and highly regulated trading platform. The Exchange strongly supports entrepreneurship and has established itself as a leading hub for discourse in the entrepreneurial community. For more information please visit: www.thecse.com
About Odyssey Trust
Odyssey Trust is a full-service transfer agent and trust company with offices in Vancouver and Calgary, and co-agent offices in Toronto, Ontario and Denver, Colorado. Odyssey has over 400 clients and has managed complex trust transactions in excess of $3 billion. As an independent trust company, we deliver personal, customized solutions for our clients, backed by one of the most experienced teams in the business. For more information please visit: www.odysseytrust.com.
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,: that CurrencyWorks sees security token offerings as an ideal vehicle for resource companies seeking to raise capital by utilizing their reserves, or future sales, without diluting their current equity and they should also be appealing to companies in the mining, pharmaceutical and technology industries as well as any company with a recurring revenue model; and the belief that the platform is capable of delivering improved liquidity, greater market access, and long-term efficiencies.
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 Inc. (the “Company”), CSE or Odyssey Trust operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. 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 Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchian solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.
Any of these risks may cause the Company’s 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 the Company 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 the Company 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 the Company 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.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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