Category Archives for Press Releases

BlocPal Genesis Merger

Genesis FinTech Inc. Announces Merger with BlocPal International Inc.

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VANCOUVER, British Columbia – Genesis Fintech Inc. (“Genesis” or the “Company”) announced it has signed a letter of intent (“LOI”) for a business combination with BlocPal International Inc.(“BlocPal”).

Pursuant to the terms of the Acquisition, Genesis will acquire 100% of the issued and outstanding shares in BlocPal, thereby acquiring BlocPal’s intellectual property, development program, operations and key personnel. As consideration, Genesis will issue to the BlocPal Common Shareholders three Genesis Common Shares for each one BlocPal Common Share held (3:1 ratio). Any options or warrants for the purchase of BlocPal Shares outstanding at the time of the Acquisition will also be adjusted using the same ratio. It is anticipated that, immediately prior to the business combination, Genesis will have 3,100,000 common shares issued and outstanding and BlocPal will have 28,982,000 common shares issued and outstanding. Upon completion of the business combination, it is anticipated that the resulting issuer will have 90,046,000 common shares issued and outstanding. The resulting issuer intends to raise up to $5 million in new equity financing.

Upon completion of the business combination, Mr. Nick Mellios will be named as the CEO and President of the resulting issuer. Nick Mellios currently owns 6,375,000 of the common shares of BlocPal. The resulting issuer will be a reporting issuer and intends to apply for a listing on a recognized Canadian stock exchange.

“BlocPal is one of the first and leading fintech blockchain payment processors in Canada,” according to Simon Cheng, Director of Genesis. “We are very excited about BlocPal’s proprietary intellectual property and first-mover platform designed to make blockchain and cryptocurrency transactions easier, safer and more efficient.”

“The combination with Genesis is a key next step in the evolution of BlocPal, as we formalize our path to a public listing on a Canadian stock exchange. BlocPal has invested $2.6 Million into its innovative blockchain payments platform and is currently preparing to launch solutions for merchants and enterprise partners. The public listing will help BlocPal continue to raise capital, support the growth of its user base and achieve revenue targets” said Nick Mellios, CEO of BlocPal.

About Genesis Fintech Inc.
Genesis Fintech is investigating opportunities in the fintech and blockchain payment sectors.

About BlocPal International Inc.
BlocPal provides an advanced FinTech digital payments infrastructure focused on bringing the significant benefits of blockchain and digital currencies to the mainstream. BlocPal’s mission is to provide a simpler, smarter and more secure way to transact with crypto and traditional currencies. BlocPal has designed the first ‘multi-currency, multi-fiat’ decentralized blockchain, using proprietary technology to simplify and secure payment processing. With extensive developer APIs, BlocPal’s ecosystem supports point-of-sale terminals, ecommerce sites and financial applications, enabling users, merchants and enterprise partners to easily and safely transact with crypto or international currencies.

For further information, please contact:

Simon Cheng
Director
Phone: 604-689-0618

BlocPal
Elan Amir
Director of Marketing
info@blocpal.com
www.blocpal.com

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.

BlocPal and iBank Digital Enter Strategic Partnership

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VANCOUVER, BC / January 24, 2019 / Joint Press Release 

BlocPal International Inc. (“BlocPal”) and iBank Digital Asset L.P. (“iBank Digital”, “iBank Exchange”) announced today the signing of their strategic partnership. BlocPal will provide iBank Digital with crypto and fiat currency transaction processing services and iBank Digital will provide BlocPal with security token listing and investment banking advisory services.

“We are very excited to launch the iBank Exchange, powered by Huobi Cloud (“Huobi Cloud”), providing Canadian traders and cryptocurrency users access to Huobi Cloud’s unmatched safety, stability, and user experience in addition to opening new opportunities for new coin issuers who are looking for liquidity, a listing and access to the global capital markets”, commented Manie Eagar, Chairman of iBank Digital.

Mr. Eagar continued, “We are also very excited to integrate with BlocPal’s proprietary intellectual property and first-mover platform, which is designed to make blockchain and cryptocurrency transactions easier, safer and more efficient in the Canadian and worldwide transactional markets. We are also looking forward to listing Blocpal’s BPX Security Token, once all necessary approvals have been received from the Canadian regulators. The BPX Security Token will entitle all holders to receive a royalty payment equal to 33% of BlocPal’s net profits, in addition to potential increases in the token value.”

“We are fortunate to build a strategic partnership with iBank Digital, who we believe is perfectly positioned to help us list and provide liquidity for our BlocPal security token via their relationship with Huobi Cloud,” said BlocPal Chief Executive Officer Nick Mellios. “BlocPal has also gained a great business opportunity to provide its services to iBank Exchange. With BlocPal’s crypto and fiat processing solutions integrated together with Huobi Cloud, we expect iBank Exchange to become one of the leading crypto-fiat trading and lending solutions offered in Canada, generating significant transaction revenue for all parties.”

About iBank Digital Asset (“iBank Digital”)

iBank Digital Asset L.P. (“iBank”), based in Vancouver, Canada, is a world leader in the facilitation and underwriting of crypto trading supported by Huobi Cloud and lending through the first open decentralized global lending network. We connect financial institutions and high net worth clients, providing the most convenient, secure, and fast trading interfaces and systems and intuitive and efficient new trading platforms for our global digital currency users. We are committed to promoting the IOST network and Blockchain development towards the advancement of global communities.

About BlocPal International Inc. (“BlocPal”)

BlocPal provides an advanced FinTech digital payments infrastructure focused on bringing the significant benefits of blockchain and digital currencies to the mainstream. BlocPal’s mission is to provide a simpler, smarter and more secure way to transact with crypto and traditional currencies. BlocPal has designed the first ‘multi-currency, multi-fiat’ decentralized blockchain, using proprietary technology to simplify and secure payment processing. With extensive developer APIs, BlocPal’s ecosystem supports point-of-sale terminals, ecommerce sites and financial applications, enabling users, merchants and enterprise partners to easily and safely transact with crypto or international currencies. 

About Huobi Cloud

Huobi Cloud is owned by Huobi Group, the world’s leading blockchain company and one of world’s largest digital asset trading platforms. Established in 2013, Huobi Group’s accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. “Bring more efficiency to finance and more freedom to wealth” is the mission of Huobi Group. It always follows the management theory of putting the customer first.

For further information, please contact:

iBank Digital
Fanny (Ly) Travis
Corporate Secretary 
Phone: 604-689-0618

BlocPal
Elan Amir
Director of Marketing
info@blocpal.com 
www.blocpal.com

BlocPal Allows Fiat Withdrawals

BlocPal Allows Fiat Withdrawals in USD and CAD

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BlocPal is excited to announce the addition of EUR to its growing list of supported fiat currencies. The innovative multi-currency blockchain platform now allows users to convert supported cryptocurrencies into CAD, USD, and EUR currencies for users in selected countries.

BlocPal works with Ethereum, Bitcoin, Bitcoin Cash, Bitcoin SV and Litecoin, with more supported crypto and fiat currencies on the way. As BlocPal grows, users can expect to find more than 35 different cryptocurrencies supported on its easy-to-use platform, as well as integrating support in more than 120 countries and compatibility with 50 international currencies.

Offering the next generation in digital asset management, BlocPal makes it easier for individuals to buy and sell products using both cryptocurrency and fiat. To withdraw fiat currency using BlocPal, simply connect the platform to a personal bank account, or to a company account if you’re a merchant, and swap your cryptocurrency for fiat. It’s that easy.

Committed to providing easier conversions from crypto to fiat, BlocPal offers new users a $1,000 limit on all transactions, and will raise limits to individuals on a case-by-case basis. Over time, limits will be raised for all BlocPal users, enabling more people to convert their favorite cryptocurrencies into fiat in larger sums.

Another advantage BlocPal offers platforms with offering similar services is its fees structure. Because BlocPal uses ACH for transactions in the United States, the fees are much lower than traditional exchanges—averaging at $1.80 for a transaction. Processing time takes between 24-48 hours, but same-day service is also available for a premium charge of $12.80 for anyone who needs to immediately send or receive money.

Visit the BlocPal website today to learn more about BlocPal and how it can be used to enhance the way businesses and individuals manage money. Be sure to check back periodically, as the website is consistently updated to add new information regarding fees, supported currencies, and other developments.

Download the wallet directly from the Google Play store and iTunes App Store. Also, stay up to date with news surrounding BlocPal’s development and the release of exciting new features by joining the official BlocPal Telegram group.

About BlocPal
BlocPal is a Vancouver based FinTech company dedicated to the mission of “Blockchain Payments Done Right”. The BlocPal platform includes an integrated blockchain, an enterprise level back office together with both merchant and consumer software solutions. Interested parties can find more information on our website or downloading our app for their Android or Apple devices.