Tortooga will launch a digital wallet serving Grupo Movil Mexico’s 40 million users, powered by BlocPal’s technology
Grupo Tortooga S.A de C.V. (“Grupo Tortooga”), based out of Puebla Mexico, and BlocPal International Inc. (“BlocPal”), with headquarters in Vancouver, Canada, are pleased to announce their strategic partnership to jointly develop and release the Tortooga digital wallet in Mexico.
The partnership between Grupo Tortooga and BlocPal has been formed as part of GMM’s strategy to offer its 50 million customers and 40 thousand merchant partners in Mexico with a new upcoming suite of digital financial services.
Guillermo Hernandez Rojas, CEO of Grupo Movil Mexico (“GMM”) said “Grupo Movil Mexico is excited about integrating BlocPal’s platform with its new venture, Tortooga, whose goal is to provide GMM’s customers a digital suite of financial and payment services. BlocPal’s solution is a big step forward in this process.”
Matt Hoffar, CEO of Grupo Tortooga, said “We are thrilled about building a successful long-term partnership with BlocPal and GMM to bring digital solutions to both the banked and unbanked in Mexico.”
Grupo Tortooga will work together with BlocPal to deliver key initial features for the Tortooga digital wallet, enabling digital payments for pre-paid airtime, mobile data and utility bills. The development plan for the Tortooga digitial wallet will involve solutions for micropayments and remittances across North America and will support international currencies including MXN, USD and CAD. The Tortooga digital wallet will serve as a key platform for additional financial services to be developed and offered to GMM’s customers and partners. Planned, new features to be integrated will include more options for deposits and withdrawals and support for new currencies, including major digital currencies.
Nick Mellios, CEO of BlocPal, said “The partnership with Grupo Tortooga to serve Grupo Movil Mexico’s customers is a perfect fit with BlocPal’s vision to help bring financial power to everyone while building out support for the digital currency community. We couldn’t have asked for a better partner or opportunity to showcase our technology.”
About Grupo Movil Mexico
GMM, a prepaid airtime, data and bill payments provider in Puebla, Mexico, has over 40 million customers and 60,000 point of sale kiosks. The company has successfully operated for over 10 years throughout Mexico. GMM’s mission is to support the micro-business economy by providing its customers with the technological tools that allow them to achieve banking and formality, strengthening their competitiveness in the face of large national and international franchises. The current operations of GMM do not fall under the supervision of the Mexican National Banking and Securities Commission.
About Grupo Tortooga
Grupo Tortooga is a digital extension of Grupo Movil Mexico, the second largest prepaid airtime supplier in Mexico. GMM and DAP Management jointly invested to create Grupo Tortooga in 2018, with the goal to provide digital services and products to the existing GMM user base, enable lower transaction fees, speed-up cross border payments, and help the unbanked and underserved. Tortooga has offices in the city of Puebla and in Mexico City. Tortooga intends to fully comply with all applicable laws and is committed to continue to do so as the regulatory framework in Mexico evolves.
About BlocPal International Inc.
BlocPal believes in contributing to a financial world that is powered by everyone and open to everyone. The company has developed a digital financial platform to empower consumers, merchants, and enterprise customers to transact with any currency or asset in a simpler, faster and more secure way. At the core of BlocPal’s service is its decentralized blockchain which has been designed to enable any currency or asset to be digitally signed and traded while complying with financial regulations. With its suite of applications, white label solutions, software development kit and integrations to financial networks, BlocPal’s ecosystem supports multiple touchpoints in the transaction process. These touchpoints include point-of-sale terminals, e-commerce solutions and financial applications, thereby enabling any user, merchant and enterprise partner to easily and safely trade however they choose.
For further information, please contact:
Brodie Gunning, Investor Relations
Elan Amir, Director of Marketing
Investors are cautioned that actual results may differ substantially from the forward-looking statements contained in this press release. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors, product prices and changes in international and local markets, as well as the inherent risks of a FinTech related business. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.