ROSH HAA'YIN, Israel (PRWEB) August 15, 2018
Virtual Crypto Technologies, Inc. (the “Company” or “Virtual Crypto”) (OTCQB: VRCP), a developer of innovative software and hardware for the purchase and sale of cryptocurrencies via point-of-sales systems, ATMs, tablets, PCs and mobile devices, today announced that it has signed an Exclusive Distribution Agreement with a third-party company Virtual Crypto SA Ltd. (the ”Distributor”), to begin selling the Company's products in the Southern African Region (the “Distribution Agreement”).
Pursuant to the Distribution Agreement, the Distributor has committed to acquire the Company’s hardware and software solutions and to pay ongoing royalties and support fees in the six figure minimum multi-year agreement.
The Company recently completed development of its fourth crypto solution for the B2B and B2C marketplace and has pilot deployments and business deals in Israel, despite launching in January 2018. The Distribution Agreement is another step forward for Virtual Crypto’s penetration of the global markets. Territories in the Distribution Agreement cover sixteen Southern African countries, including South Africa, Namibia, and Botswana.
Alon Dayan, CEO of Virtual Crypto commented, “Cryptocurrency is increasingly popular in the Southern African Region, which is a strong emerging market. Cryptocurrency provides investors and businesses with an opportunity to diversify their portfolio. In addition, Virtual Crypto’s solutions offer businesses and consumers a secure payment alternative with real-time availability and broad accessibility.”
Prior to Virtual Crypto launching in the Southern Africa Region, using cryptocurrency for day-to-day transactions has been burdensome and effectively impractical due to lack of appropriate and accessible technologies available within developing countries. The principal barrier Virtual Crypto overcomes is the typical delay in completing cryptocurrency transactions. Virtual Crypto’s proprietary technology works through those challenges, offering seamless transactions and high-level secure consumer experience by scanning multiple exchanges within seconds.
Dayan explained, “We felt that by creating a solution that was both platform and cryptocurrency agnostic, the masses can employ the advantages of utilizing cryptocurrency for all of their needs. While we’ve already demonstrated success in our solutions in other markets, we believe the advantages will be even greater in locations, such as the developing countries within Southern Africa, where local economies experience volatility.”
While many companies within the crypto industry do not trade on traditional exchanges, Virtual Crypto is quoted on the OTCQB as opposed to less regulated alternatives. Trading on the OTCQB is consistent with Virtual Crypto’s objective of being a stable business in an exciting industry, offering growth potential, while built for the long run. By being immersed in the crypto field, Virtual Crypto is able to leverage significant momentum and success, as the Distribution Agreement suggests, yet allows for a continued positive trajectory.
The Distribution Agreement was signed earlier than anticipated. Dayan continued, “We have no interest in pursuing quick wins that do not benefit our customers and our shareholders. We believe that our technology and solutions offer real value and sustainable success for years to come. This agreement, and the timing of this deal, further validates our team’s shared vision. We look forward to announcing additional news as our technology and our business pipeline advance as we expand - extending to other emerging markets and fully developed economic regions around the globe.”
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About Virtual Crypto Technologies, Inc.
Virtual Crypto Technologies, Inc. (OTCQB: VRCP) (“Virtual Crypto”) is a technology company dedicated to making cryptocurrency accessible to the public on a global basis. Virtual Crypto specifically develops payment solutions for businesses and consumers, which combine Application Programming Interfaces and Mobile Applications for implementation via ATM’s, PCs, tablets and other mobile devices.
The company’s proprietary algorithmic technology trading platform and NetoBit product line, instantaneously confirms the purchase or sale of cryptocurrency, as opposed to industry transaction processing norms, which can take 10 minutes up to 24 hours. All trades and exchanges are insured up to $3,000 per trade.
Virtual Crypto’s NetoBit ATM and retail point-of-sale, NetoBit Pay, incorporate advanced technologies tailored to the needs of primary market players, users, investors, and business owners. Virtual Crypto’s platform bridges the three main functions of the cryptocurrency sector – exchanges, wallets and payments – to the world of fiat exchanges, granting access to immediate cash exchanges between consumers and businesses worldwide.
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About Virtual Crypto SA Ltd.
Virtual Crypto SA Ltd. is dedicated to providing cryptocurrencies payment and crypto-fiat trade solutions to the Southern Africa through secure, insured and friendly to use products. The company distributes cryptocurrency products to Southern Africa's main street.
Serial Entrepreneur, Avigdor Ashtar, started the initiative of providing access to cryptocurrency payments after being approached by businesses interested in financial services that lower operational costs, while safeguarding business income flow. Recognizing that blockchain technology, and specifically cryptocurrency, provides the solution to local businesses with those needs, Mr. Ashtar, was introduced to Virtual Crypto’s solutions and initiated a proposal to distribute BTM’s, POS, Mobile app & software to local Southern African markets. Under the license from Virtual Crypto, the company Virtual Crypto SA was established, dedicated to providing businesses with access to cryptocurrency products.
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including, but not limited to, those described in the Company’s 2018 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 17, 2018, and the other risks and factors set forth in the Company’s filings and submissions with the SEC. In addition, the Company operates in a relatively new industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law.
Alon Dayan, CEO Virtual Crypto Technologies, Inc.
Tel: +972 54-487-7959