14:27:27 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Newnote Financial Corp
Symbol NEU
Shares Issued 30,367,090
Close 2015-03-18 C$ 0.15
Market Cap C$ 4,555,064
Recent Sedar Documents

Newnote buys Cointrader, CoinZero POS for $1.5-million

2015-03-19 08:05 ET - News Release

Mr. Paul Dickson reports

NEWNOTE FINANCIAL ACQUIRES 100% INTEREST IN REVENUE GENERATING COINTRADER.NET BITCOIN EXCHANGE, COINZERO POINT-OF-SALE SYSTEM AND ATM MACHINES IN LONDON & TOKYO

Newnote Financial Corp. has acquired Canadian-based bitcoin exchange Cointrader, the CoinZero point-of-sale system, and ABMs in London and Tokyo, among other assets, for $1.5-million in cash and stock, making Newnote the world's first and only publicly traded bitcoin exchange listed on three stock exchanges.

Cointrader is a leading North American bitcoin exchange; one of the top two bitcoin exchanges in Canada by volume founded by the bitcoiniacs who were responsible for the installation of the world's first bitcoin ABM in Vancouver, as well as the opening of the world's first physical bitcoin brokerage in July of 2013.

Cointrader highlights:

  • Canada's fastest-growing bitcoin exchange;
  • Processing more than $1.5-million per month in transactions;
  • 10,000 active users with a sign-up rate of over 1,000 new users per month;
  • Key strategic partners and business relationships in place.

Cointrader's imminent entry into the U.S. and European markets; with the help of strategic partner Vogogo Inc., will enable users direct bank transfers in all 50 states and many countries throughout the eurozone later this year. Cointrader offers its users 100-per-cent-insured bitcoin deposits through partner XAPO and unparalleled security from partner Crowdcurity, a service offering white-hat hackers a fee for identifying potential security threats. The Cointrader API allows developers direct access to the exchange's order book which can be used to execute automated trades, pull market data or interface with bitcoin ABM machines. Cointrader currently has nearly 1,000 bitcoin ABMs connected worldwide: in Canada, the United Kingdom, Japan, Singapore and over 800 terminals connected through the ZebraPay network in Romania. The acquired ABM machines currently located in Tokyo and London utilize the Cointrader API to automatically buy and sell bitcoin directly from the order book on the exchange.

In addition to Cointrader, the company has also acquired point-of-sale system CoinZero. CoinZero enables retail merchants and on-line stores the ability to accept bitcoin for merchandise. CoinZero offers a plethora of features such as inventory tracking and simple accounting to name a few. Most importantly, CoinZero offers bitcoin to fiat conversion, positioning Newnote to compete with BitPay and Coinbase which also offer a similar service.

Chief executive officer and president of Newnote, Paul Dickson, reports: "This transaction positions Newnote as the de facto leader in the cryptocurrency space in Canada. Cointrader.net, CoinZero and the ABM network offer our shareholders direct exposure to the primary revenue generators in the digital currency space; it is our mission to deliver on our promise to offer the most innovative products and services available."

The company intends to engage in an aggressive marketing program geared at building the Cointrader user base and expanding internationally via strategic business relationships with top-tier bitcoin operations and start-ups alike.

We seek Safe Harbor.

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