Arbitrade Ltd. To Establish its World Headquarters in Bermuda
NEW YORK, June 07, 2018 (GLOBE NEWSWIRE) -- Mr. Leonard Schutzman, Chairman and Chief Executive Officer of Arbitrade, a leading coin and cryptocurrency exchange, said today that its home domicile will be Bermuda. In making the announcement, Chairman Schutzman said the process to winning incorporation started late last year when company representatives first met with Premier David Burt, Minister Wayne Caines, the Minister of National Security who is spearheading the introduction of crypto and digital asset legislation in Bermuda, Minister Wayne Furbert, The Junior Finance Minister, Stephen P. Gift from the Ministry of Finance, representatives from the Bermuda Monetary Authority and Bermuda Business Development Agency. "The company made numerous visits over several months and a considerable amount of work was done to securing our incorporation. Bermuda is justly regarded as the gold standard in the Fintech and Reinsurance industries globally and Arbitrade's goal was always to domicile its head office in this exacting jurisdiction before registering subsidiaries in other countries around the world," Mr. Schutzman said.
He noted Bermuda was one of the very few jurisdictions leading the way with full legislation affecting ICO's and cryptocurrency laws and Arbitrade welcomed cryptocurrency legislation and associated regulations that form a strong foundation in developing the best strategies to advance its business model into other countries. Arbitrade welcomed the stringent Know Your Client (KYC)/Anti Money Laundering (AML) process with which companies will have to comply before they are able to be licensed to operate as a merchant exchange business. "It seemed to us the only way our industry will receive global acceptance. With this thoughtful and timely structure of Bermuda's laws to guide and support us, Arbitrade can now move forward into over 12 additional countries quickly and then continue to introduce our platforms to more jurisdictions," he said.
Bermuda expects its ICO legislation to be passed within the next three weeks and Arbitrade intends to hold the very first, fully legal, ICO in Bermuda when this happens. Information about the legislation is available on the Government of Bermuda's website.
Once Arbitrade has its licenses in hand, the company will proceed first with its eight-week legally approved ICO, followed by the launch of the Arbitrade platform in late August/early September.
Bermuda is a well-regulated Country Led by the Bermuda Monetary Authority. All new companies are scrutinized to ensure that the jurisdiction is protected and know its customer, hence a sometimes lengthy period of due diligence.
While many countries still wrestle with ways to regulate digital assets businesses, the Bermuda government has passed the Digital Assets Business Act. "This thoughtful and timely action demonstrates, once again, why Bermuda is a world leader in regulating financially related services. The progressive legislation sets the highest standards for those companies who have chosen to establish Digital Assets businesses on the island and validates the company's decision to incorporate and domicile our global headquarters in Bermuda."
Mr. Schutzman said, Arbitrade's management would like to thank everyone for their patience and understanding while it worked to achieve this incredible accomplishment. "This is only the beginning, and the road ahead is going to be extremely busy as management sets up the operating infrastructure of the company, with our head office in Bermuda."
Arbitrade has been locking down all deals regarding our bullion purchases as we move forward with this news. We needed two things to be able to close the bullion negotiations:
1. Be a registered company in Bermuda, and
2. Be a legally licensed and insured company in Bermuda.
"We have already accomplished the first requirement and, we have been advised, the second requirement will happen later this month," Mr. Schutzman said, noting that the company seeks to finish all agreements and deals with all partnering companies before the end of the month. Once this is achieved, it will announce the official ICO dates, the bullion related news, partners information, and the official launch date of Arbitrade. Arbitrade's management and consultants were hoping for earlier dates to receive approvals however this is a long process that has to pass through many channels of Government. We have made it through the most difficult part of the process."
ARBITRADE, through its proprietary software and strategic partnerships, plans to be in all segments of the cryptocurrency business, including currency mining, trading (The ARBITRADE Exchange) gift cards, debit cards, money transfer and Point of Sale processing.
Marston Webb International
T: (212) 684-6601, C: (917) 887-0418
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Arbitrade via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Navigators Stockholders Approve Merger with The Hartford16.11.2018 22:01 | Pressemelding
STAMFORD, Conn., Nov. 16, 2018 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) (“Navigators”) announced that, at a special meeting of stockholders held today, Navigators’ stockholders approved the adoption of the previously announced merger agreement relating to the proposed transaction between Navigators and The Hartford Financial Services Group, Inc. (“The Hartford”), whereby Navigators will become a wholly owned subsidiary of The Hartford. Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each eligible share of Navigators common stock will be cancelled and converted into the right to receive $70.00 in cash. The merger remains subject to various closing conditions, including receipt of various regulatory approvals, and is expected to close during the first half of 2019. About Navigators The Navigators Group, Inc. (NASDAQ: NAVG)(“Navigators” or the “Company”) is a global specialty insurance holding company. We provide custom
This is a test from GlobeNewswire16.11.2018 20:57 | Pressemelding
LONDON, Nov. 16, 2018 (GLOBE NEWSWIRE) -- This is a test from GlobeNewswire. Readers are advised to disregard. TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -END- CONTACT: Karen Yu Senior Director, Global Head of GlobeNewswire Media Relations Direct: +1 310 258 6917 Mobile: +1 626 389 7427 or David Didier Lislet Manager, GlobeNewswire Media Relations, EMEA Phone: +33 185 341 347
BlissCo Receives Cannabis Sales License from Health Canada16.11.2018 14:00 | Pressemelding
Not for distribution in the U.S. or to U.S. Newswires VANCOUVER, British Columbia, Nov. 16, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – BlissCo Cannabis Corp. (CSE: BLIS) (OTCQB: HSTRF) (FRA: GQ4B) (“BlissCo” or the “Company”), is pleased to announce that it has received a comprehensive sales license from Health Canada to sell bulk cannabis and pre-packaged, labeled, and tested cannabis products. “We are thrilled to receive our sales license and to be able to start pre-registering clients and supplying both the robust medical and adult-use markets in Canada with our premium cannabis products,” said Damian Kettlewell, CEO of BlissCo. “BlissCo is committed to providing top-tier service to all of our customers.” The Company will soon be launching its e-commerce website and BlissConnect, a telemedicine app for medical cannabis consultations, to service its medical clients. The Company is currently ready to pre-register clients wishing to be first in line when shipping begins. To pre-registe
Gratomic Announces Non-Brokered Private Placement16.11.2018 14:00 | Pressemelding
TORONTO, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Gratomic Inc. (“GRAT” or the “Company”) (TSX-V: GRAT) (FRANKFURT:CB81, WKN:A143MR) is pleased to announce the offering of a non-brokered private placement of up to 10,000,000 working capital units (the “WC Unit”) for up to $1,000,000 (the “Offering”). Each WC Unit is priced at $0.10 and consists of one (1) common share and one (1) common share purchase warrant (“WC Warrant”). Each WC Warrant entitles the holder to purchase one (1) common share (a “WC Warrant Share”) at a price of $0.20 per WC Warrant Share until the earlier of: (i) three (3) years following the Closing of the Offering; and (ii) in the event that the closing price of the Common Shares on the TSX Venture Exchange is at least $0.30 for ten (10) consecutive trading days, and the 10th trading day (the “Final Trading Day”) is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day. Eligible Finders may receive 5% of the value of
Mitratech Listed Among Financial Times’ Inaugural Top 35 Intelligent Business Award Winners and Other Prestigious Categories16.11.2018 10:00 | Pressemelding
Legal Tech Top 10 FTIL Intelligent Business Award for Contracting FTIL Intelligent Business Award for Use of Legal Technology AUSTIN, Texas, Nov. 16, 2018 (GLOBE NEWSWIRE) -- The Financial Times’ inaugural FT Intelligent Business Special Report has recognized Mitratech among the top companies with the greatest impact on the practice and business of law. The report highlights the integration of people, processes, and data to solve a legal business’ operational challenges and how the ramifications of this back-office revolution are felt across organizations everywhere. “The fact that the Financial Times is now tracking the impact of legal technology reinforces that the industry is at a tipping point,” said Jason Parkman, Mitratech CEO. “There’s more transformation that lies ahead. We are honored and humbled to be a part of that movement and in good company with several clients we were recognized with.” The company was presented with the following honors: FT Intelligent Business Top 35: M
GridGain Ranked 77th Fastest Growing Company in North America on Deloitte’s 2018 Technology Fast 500™16.11.2018 09:00 | Pressemelding
1,724 Percent Growth Over the Past Four Years Ranks 19th in the San Francisco Bay Area FOSTER CITY, Calif., Nov. 16, 2018 (GLOBE NEWSWIRE) -- GridGain® Systems, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, is ranked No. 77 on the Deloitte 2018 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. GridGain, which grew 1,724 percent over the past four years, was the 19th fastest growing company in the San Francisco Bay Area. “GridGain continues to benefit from strong market demand for our market-leading in-memory computing platform that helps customers realize their digital transformation and omnichannel customer experience initiatives,” said Abe Kleinfeld, President and CEO of GridGain Systems. “When you combine the best talent in the industry with great execution and strong customer demand, wonderful things happen.” “Congratulations to the Deloit
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom