Mr. Levy Cohen reports

WELLFIELD UPDATES ON POSITIVE IMPACT OF ETHEREUM'S DENCUN UPGRADE

Wellfield Technologies Inc. has provided an update following ethereum's biggest upgrade in almost a year, aimed at improving scalability and lowering transaction fees. On ethereum Layer 2 blockchains, also known as Rollups, network fees have dropped to a mere one cent, including on Coinmama's recently announced decentralized exchange. These developments reinforce management's confidence in ethereum's ability to support Wellfield's brands and platforms, aimed at using the latest blockchain technology to make Defi (decentralized finance) user-friendly and approachable.

Levy Cohen, chief executive officer of Wellfield, remarked: "With its shift to proof of stake and more recent upgrades, ethereum has shown it can uphold Defi's transformative global finance vision. We view Rollups as a robust foundation for Wellfield's decentralized finance products and are heartened by the ethereum community's quick integration of each improvement."

Rollups play a crucial role in ethereum's road map for a scalable, secure and sustainable ecosystem. Notable Rollups such as Optimism, Arbitrium, Starknet and ZK Sync are key in helping ethereum handle more users and transactions while maintaining its strong security and decentralization. The recent Dencun upgrade is a significant step forward. It removes the requirement for Rollups to permanently store all transaction data on ethereum's main blockchain and introduces a transitory data storage mechanism, called Blobs, that has high bandwidth and is cost efficient.

Mr. Cohen concludes: "After already witnessing the immediate reduction in transaction fees on Coinmama's new Web-based Defi offering, we are encouraged that this upgrade will also significantly boost the appeal of our Coinmama self-custody mobile app powered by Fireblocks, to be released later this year. Furthermore, for Tradewind Markets, this represents a major move in making our tokenized gold ecosystem more attractive among conventional gold investors and traders. Wellfield will remain vigilant and keep up with market developments to adopt and integrate them into our businesses and services for our customers."

About Wellfield Technologies Inc.

Wellfield Technologies is a leading fintech company specializing in innovative solutions that leverage blockchain technology for consumers and institutions. Its retail platform Coinmama provides seamless access to the cryptocurrency market for over 3.8 million registered users across 180 countries, including friendly self-custody solutions and disruptive Defi services. Wellfield operates Tradewind Markets as a real-world-asset tokenization platform with its flagship VaultChain gold and VaultChain silver, backed by physical metal custodied with the Royal Canadian Mint. Expanding its offerings for institutional clients, Wellfield acquired Brane Trust and is working toward regulatory approval to operate as Canada's second qualified digital asset custodian.

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