Nasdaq GlobeNewswire

Arbitrade Ltd. To Establish its World Headquarters in Bermuda

Del

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.

Media Contact:
Victor Webb
Marston Webb International
T: (212) 684-6601, C: (917) 887-0418
e-mail: marwebint@cs.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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

Nasdaq GlobeNewswire
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

Researchers, Survivors, Advocates and Physicians Convene to Discuss Innovations in Lung Cancer Research, Treatment and Advocacy at the Largest-Attended World Conference on Lung Cancer24.9.2018 01:00Pressemelding

TORONTO, Sept. 23, 2018 (GLOBE NEWSWIRE) -- Patients, survivors and advocates joined researchers and physicians from across the globe to discuss the future of lung cancer at the International Association for the Study of Lung Cancer’s (IASLC’s) 19th World Conference on Lung Cancer (WCLC) in Toronto, Canada. The conference’s first press briefing highlighted the record-breaking number of registered attendees (over 7,300), reviewed patient-caregiver communities working to accelerate research, evaluated survey data on the emotional needs of lung cancer survivors and underscored the impact of comprehensive genomic profiling on patient care. The press conference opened with a welcome message from conference co-presidents Natasha B. Leighl, M.D., BSc, MSc; Andrea Bezjak, M.D., FRCPC, MSc; and Gail Darling M.D., FRCSC, who have worked tirelessly to make this year’s conference in Toronto highly successful. Oncogene-driven patient-caregiver communities creating new paradigm for non-small cell lu

Bombardier Delivers First 90-seat Q400 Aircraft to SpiceJet21.9.2018 16:00Pressemelding

SpiceJet becomes the first airline to take advantage of the Q400 aircraft’s increased profit potential TORONTO, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Bombardier Commercial Aircraft today announced the delivery of its first 90-seat Q400 aircraft. The aircraft was handed over to India’s SpiceJet Limited (“SpiceJet”) the launch operator for the extra-capacity, 90-seat aircraft. “We are excited to induct the 90-seat Q400 aircraft into our fleet,” said Ajay Singh, Chairman and Managing Director, SpiceJet. “The additional seats and performance improvements will result in substantial reduction in unit costs and also we will enable us to address our market needs in the regional space.” “The delivery of the first 90-seat Q400 aircraft showcases the commitment of Bombardier’s Q Series turboprop program to respond to customer requirements as they address traffic growth in regional markets,” said Todd Young, Head of the Q Series Aircraft Program, Bombardier Commercial Aircraft. “I thank and congratul

Service Providers Speed Deployment, Reduce Costs with Patton Cloud Edge Orchestration Service20.9.2018 22:16Pressemelding

Now, Telecom and UCaaS service providers can easily provision, manage, monitor, secure, alert, troubleshoot, analyze, and optimize services on the customer premise GAITHERSBURG, Md., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Patton Electronics—US-manufacturer of UC, cloud, and IoT-enabling solutions for carrier, enterprise, and industrial networks—has launched the new Patton Cloud service for carriers and service providers that deliver All-IP and hybrid voice-and-data services to business subscribers. Patton Cloud delivers a low-cost, easy-to-use, web-based edge-orchestration service that delivers a superior user experience. It offers remote touchless provisioning, monitoring, and troubleshooting—as well as security and alerting tools that reduce service turn-up costs, trouble tickets, and subscriber attrition. The Patton Cloud service offers quality-control mechanisms including pro-active monitoring and troubleshooting—combined with feature-license distribution pools for managing value-added

Inspirata Promotes Top Executives to Expanded Roles in Digital Pathology20.9.2018 21:12Pressemelding

Inspirata Founder and Executive Vice President, Mark Lloyd, is taking on an expanded role overseeing product management, and Inspirata Senior Vice President, Andrew Chomos, has been appointed to General Manager, Digital Pathology, overseeing the Center of Excellence in Pittsburgh along with all North America sales and customer support efforts. Tampa, FL, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Cancer informatics and digital pathology workflow solution provider Inspirata®, Inc. announced today that two of its executives have taken on expanded roles in the company. The two are Inspirata Executive Vice President and Founder, Mark Lloyd, and Senior Vice President and General Manager, Digital Pathology, Andrew Chomos. Dr. Lloyd has accepted the expansion of his role to include product management for Digital Pathology. He is former cancer researcher at both Lombardi Cancer and Moffitt Cancer Center and is Inspirata’s foremost subject matter expert and thought leader on digital pathology and image

Tetraphase Pharmaceuticals Announces Adoption of Commission Decision Granting Marketing Authorisation Approval in the European Union for XERAVA™ (eravacycline) for the Treatment of Complicated Intra-Abdominal Infections20.9.2018 19:08Pressemelding

– Broad Product Label for Treatment of Complicated Intra-Abdominal Infections – – Phased Commercial Launch Expected in the First Half of 2019 – WATERTOWN, Mass., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today announced that the European Commission (EC) has adopted the Decision granting marketing authorisation for XERAVA (eravacycline) for injection for the treatment of complicated intra-abdominal infections (cIAI) in adults in the European Union. In clinical trials, XERAVA was well-tolerated and achieved high clinical cure rates in patients with cIAI, demonstrating statistical non-inferiority to two widely used comparators – ertapenem and meropenem. “The European approval of XERAVA, right after our recently announced FDA approval, marks our second significant regulatory approval within one month

UPDATE— Taconic Biosciences Becomes the First Animal Model Provider on General Services Administration Contract Schedule20.9.2018 18:07Pressemelding

RENSSELAER, N.Y., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Taconic Biosciences, a global leader in providing genetically engineered rodent model solutions, announces a new relationship with Government Scientific Source (GSS). GSS is a leading dedicated distributor of laboratory equipment to federal, state, and local governments on contract with the GSA (General Services Administration). By having Taconic’s products available via GSS, they can now be accessed by all federal agencies, including but not limited to the National Institutes of Health and the Department of Defense. Taconic is the only animal model provider affiliated with GSS and the only animal model provider available on GSA Contract. “An important component of providing customers with the best animal model solutions is access to key resources. Through this exciting new relationship with GSS, Taconic can now easily connect with scientists doing some of the most valuable research in the world and provide them with high quality sol

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom