BTL GROUP LTD. (TSX VENTURE:BTL) (“BTL” or the “Corporation”) is pleased to announce that it has entered into an agreement with Netcoins Inc. (“Netcoins”) to launch in-store remittances, initially in 19 stores across Canada. Remittances will be offered under BTL’s Xapcash brand, using Netcoins’ in-store terminals to send funds through BTL’s proprietary money transfer platform (Interbit). Through its Xapcash brand and this agreement with Netcoins, BTL’s blockchain technology aims to offer a seamless money transfer experience, both online and in-store.
“This agreement is a significant step forwards for BTL, and we believe will be the first time blockchain based remittances have been offered in physical stores,” commented Guy Halford-Thompson, CEO of BTL. “The ability to offer in-store, as well as online remittances, through our Xapcash platform will significantly increase our customer reach, and we are excited to be working alongside Netcoins and their team.”
“We are very excited to be working alongside BTL to bring cost effective money transfers to physical stores,” commented Michael Vogel, Netcoins’ founder and CEO. “The combination of BTL’s money transfer technology and the Netcoins platform will result in a unique remittance platform with significant advantages over existing services.”
BTL and Netcoins are working together to bring blockchain based remittances to physical stores, and the integration and testing process is already under way. The first stores are expected to go live at the end of April 2016.
BTL is a technology company whose current business is focused on developing blockchain technologies to disrupt and transform existing industries. Technology is developed in-house and through BTL’s incubator and accelerator programs, based in Vancouver, British Columbia. BTL’s first technology platform is a remittance business called Xapcash which, combined with BTL’s proprietary cross border settlement technology (Interbit), is focused on leveraging blockchain technology to create rapid and cost effective “cash-in cash-out” settlement solutions from Canada and the United Kingdom to target countries.
Certain statements in this release are forward-looking statements, which include the development and launch of BTL’s technologies and products, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the development of competitive technologies, the marketplace acceptance of BTL’s technologies and products, and other factors, many of which are beyond the control of BTL. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BTL disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BTL undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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