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Cloud Nine Web3 Technologies Inc
Symbol CNI
Shares Issued 16,787,047
Close 2021-05-18 C$ 0.96
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Cloud Nine Web3 appoints Oh, Sim as advisers

2021-05-18 12:38 ET - News Release

Mr. Sefton Fincham reports


Cloud Nine Web3 Technologies Inc. has appointed Richard Oh, a former executive at PayPal Asia, and Eric Sim, chief executive officer of Glocontech, as strategic advisers.

According to Grand View Research, the global digital payment market size was valued at $58.30-billion (U.S.) in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 19.4 per cent from 2021 to 2028.

"With the high adoption rate of smart phones and improved Internet penetration globally, it is important that we continue to build a world-class team with experience in payment solutions," said Sefton Fincham, president of Cloud Nine. "Richard and Eric are a brilliant addition to our team to help position Cloud Nine in the lead to capitalize on the growing demand for innovative payment solutions."

Mr. Oh, a former executive at PayPal Asia, spent over 18 years establishing PayPal's payment network around the world, including Latin America, Africa and Asia. He also led key partnerships in the region, including partnerships with Visa, MasterCard, Amex, UnionPay, Citibank and Bank of America, as well as partnerships with Korea and Hana Bank and Shinhan Card. Mr. Oh has also been an adviser to start-ups focused on payment, blockchain, social commerce and the trend industry of artificial intelligence (AI).

Mr. Sim, CEO of Glocontech, has decades of international experience in global payment technology, credit management, banking and investment. He is a network, database design engineer and project manager, currently running IT platform consulting firms, including payment, finance and media industries. Mr. Sim is a pioneer in the cross-border payment and remittance platform industry. Glocontech has partnerships with PayPal, Fiserv, NHNKCP Korea, Hana Bank Korea, NAB Australia, Asia Pay, China Union Pay, Financial House U.K., Rakuten Japan, Western Union EU and many other global financial institutions.

Mr. Oh and Mr. Sim will join the company's strategic adviser, Shin-Young Park, CEO of WePay Korea, and work together with the senior team at Cloud Nine to develop and advance the company's Limitless assets, which include:

  • Issuance of a Limitless Coin and listing on an exchange/distribution;
  • Limitless Global PG system development;
  • Limitless app development/integration with a credit card;
  • Real-time conversion blockchain system development (integration with Limitless Pay);
  • Sports coin betting games/Poker Hold'em (self-operated);
  • Establishment of Limitless Pay network.

By combining a payment gateway, point development and distribution technology, crypto payment systems, and blockchain real-time payments, Cloud Nine will enable users to access their data in a truly distributed fashion.

"I am thrilled to be joining the team at Cloud Nine to help accelerate the development of their innovative products," said Mr. Oh, former executive at PayPal Asia. "There is so much work to be done in the payment space and, together, we have a great opportunity with Cloud Nine to pursue a future where everyone has access to advanced payment solutions."

About Cloud Nine Web3 Technologies Inc.

Cloud Nine Web3 Technologies is a technology company focused on incorporating emerging technologies into its current platforms leveraging Web 3.0. Cloud Nine's mission is to fuel innovation and make the future more accessible by powering the launch and growth of future tech companies. Web 3.0 enables a future where decentralized users and machines are able to interact with data, value and other counterparties through a substrate of peer-to-peer networks without the need for third parties.

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