Mr. Levy Cohen reports

WELLFIELD TECHNOLOGIES TO EXPAND ITS ENGINEERING DEVELOPMENT CAPACITY FOR SEAMLESS BRAND WITH A NEW HUB IN PORTUGAL

Wellfield Technologies Inc. has partnered with Exaud LDA to establish a development hub in Portugal, with a mandate to supporting the Seamless development pipeline. Headquartered in Greater Porto, with an additional office in Amsterdam, the Netherlands, and a representative office in Dusseldorf, Germany, Exaud is a global software solution provider, across various industries such as automotive and manufacturing, fintech and financial services, software and high techology, media and digital education, and retail and logistics.

As previously announced, the company is in the process of furthering solutions under the Seamless brand to address necessary needs of the defi (decentralized finance) ecosystem. This includes services such as making bitcoin compatible with defi, cross-blockchain trading and decentralized prime-broker-like services. Beyond this near-term pipeline of opportunities, Wellfield has identified several other areas of importance that are necessary for defi-powered apps like MoneyClip, a subsidiary of Wellfield, and to strengthen the Seamless ecosystem and suite of solutions. Once established, the company's development hub will take part in developing products that the research group architects and prototypes to address these opportunities.

Management commentary

Levy Cohen, chief executive officer of Wellfield, commented: "It is our firm belief that defi will reinvent global finance. Scaling our commercialization efforts through an additional development hub will ensure that Wellfield remains at the forefront of the evolution of the defi ecosystem, building on the scheduled 2022 launches of several solutions under our Seamless protocol layer brand. To this point, our team has been focused on developing the capabilities within Seamless to address some of defi's biggest technical challenges, but solutions to these immediate challenges are just the beginning. Securing additional high-demand developer talent gives the company the additional depth required to continue building the ecosystem around Seamless and powering the financial applications of the future with our critical infrastructure. We are fortunate to benefit from the experience and expertise of Exaud, our partners in Portugal."

About Wellfield Technologies Inc.

Wellfield is focused on unlocking the power of decentralized finance (defi) by building open and accessible decentralized protocols and also blockchain-based consumer products. Seamless -- the company's protocol layer brand -- focuses on solutions that enhance and optimize liquidity in the ethereum ecosystem, make bitcoin compatible with defi, and enable decentralized cross-blockchain exchange. MoneyClip -- Wellfield's application layer brand -- is powered by defi to enhance everyday financial products and make money work for the way people live.

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