ROSWELL, GEORGIA, USA – 06-01-2018 (Press Release Jet) — PRESS RELEASE
Contact: Nona Perez MVG, +1 646 205 7030, [email protected]
BITMINUTES ANNOUNCES A TOKEN GENERATION EVENT EXTENSION
June 1, 2018, Roswell, GA USA – BitMinutes Inc., a blockchain technology company, and FinTech incubator, announces its Token Generation Event (TGE) has been extended due to increased demand from potential institutional purchasers during its recent SE Asia roadshow and pending European regulatory approval. BitMinutes has exceeded its soft cap of $2 million and therefore eligible to issue tokens immediately.“The extension is driven, in part, by the backlog being experienced by our issuing regulatory body,” added CEO Tom Meredith. “Interested buyers are waiting for approval of the BitMinutes TGE from the Liechtenstein Financial Monetary Authority, which should occur in June. Mr. Meredith continues, “Once approval is obtained, we will immediately issue the first TGE tranche. We chose Liechtenstein since they are one of the few governments globally who have clear legislation in place regarding token issuance.”“We are not making any revision to the $30M hard cap,” notes BitMinutes CFO Paddy Atmuri. “The new interest from large corporate buyers fits within our forecasted total sale, which is important. We must protect the interests of people who have purchased BMTs by issuing tokens at the earliest time. We have exchanges ready to list BitMinutes once tokens are issued to provide liquidity.”The increased attention of regulatory agencies globally is cited by BitMinutes senior executives as changing the landscape for investors in FinTech ventures. “Everyone is more deliberate, and in less of a rush,” notes Meredith. “We are meeting our roadmap projections while waiting on regulatory approval.”BitMinutes has taken the longer view from its inception four years ago. It has built a market-tested system that leverages the first prepaid minute token (the BMT) to provide low-cost financial services to the world’s two billion under-banked consumers. BitMinutes will serve as the universal cryptocurrency for enabling global telecommunications providers, retail merchants and a network of trusted agents to offer free money transfer and guaranteed loans to four billion cell phone users. “Our platform is re-shaping both the telecoms and financial industries and is bringing a game-changing solution to millions of people worldwide. We’re thrilled that BitMinutes token generation continues to generate such strong interest,” said Meredith.About BitMinutes TechnologyBitMinutes technology harnesses the decentralized power of the Ethereum blockchain by leveraging the digital ledger behind user data for making purchases, transferring money, generating loans and using airtime minutes. Selling and lending BitMinutes-based micro-loans will create a business opportunity for entrepreneurs globally. BitMinutes will turn the corner retailer into the corner banker, delivering banking services to the smallest of villages and towns worldwide. And doing it profitably.About BitMinutes, the CompanyBitMinutes is a start-up fintech company, founded in the U.S., with its European subsidiary recently established in Vaduz, Liechtenstein. BitMinutes is a cryptocurrency backed by prepaid airtime minutes, a real asset already traded informally globally by billions of mobile phone owners. The BitMinutes tagline “Better Crypto for a Better World” reflects the fact that BitMinutes tokens allow peer-to-peer cash transactions to over 2 billion bank accounts in 70 countries and prepaid top-up to over 4 billion mobile accounts in over 200 countries. Even more importantly, BitMinutes facilitate the expansion of micro-credit and nano-credit lending in communities where lending is rare and too expensive for most individual borrowers. BitMinutes ownership and transactional records will establish a new type of consumer credit score for emerging market consumers who currently struggle with limited access to capital and a lack of traditional banking services.
More details are provided at www.BitMinutes.com
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