Wellfield Launches Crucial Progress Part for MoneyClip App

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  • The Firm has concluded its preliminary interval of rigorous testing in partnership with early customers of the App and might be launching an upgraded consumer interface and new connectivity options in Q1 2022, to help enhanced usability, model consciousness and scalability as new blockchain infrastructure is built-in over the following 12 months.

  • Wellfield’s imaginative and prescient for the MoneyClip app (“MoneyClip” or the “App”), is to construct it into the last word on a regular basis monetary utility powered by blockchain, giving shoppers easy accessibility to, and higher management over their cash by harnessing the total worth and suppleness supplied by decentralized finance (“DeFi”).

  • The Firm has additionally initiated an engagement program that’s dually targeted on the enlargement of the App’s consumer base and its evolution from a peer-to-peer (P2P) fee app to a broader monetary app, powered by blockchain infrastructure.

  • MoneyClip has launched a brand new web site at moneyclip.io.

VANCOUVER, BC, Dec. 24, 2021 /CNW/ – Wellfield Applied sciences Inc. (TSXV: WFLD) (the “Firm” or “Wellfield“), is happy to announce that its wholly-owned subsidiary, MoneyClip Inc. has launched an intensive engagement program, targeted on rising its consumer base and signing retail companions because it prepares for the introduction of further performance via 2022.

MoneyClip is offered to obtain in Canada, for iOS and Android customers. The App presently presents P2P fee performance, and Wellfield has a multi-year plan so as to add performance that’s aimed toward making MoneyClip a consumer’s major monetary interface. Wellfield expects to supply enhanced variations of monetary services presently out there to Canadian shoppers solely via conventional channels, by leveraging sensible contracts and different DeFi infrastructure constructed by the Firm’s Seamless model and thru partnerships and integrations with third events within the DeFi ecosystem.

Administration Commentary

Chanan Steinhart, Founding father of MoneyClip and Chief Technique and Enterprise Growth Officer of Wellfield commented, “Throughout our newest rounds of consumer analysis and testing we have seen a marked shift within the Gen Z demographic. As just lately as this previous spring, most seen blockchain as a excessive danger and speculative ecosystem. Now, many see blockchain and DeFi as a legit international monetary system that’s starting to supply the services their mother and father obtain on the native department and on-line, however with engaging and sustainable financial incentives, and the consumer expertise they’ve come to count on as cell native shoppers. We’re positioning ourselves to seize this client shift in banking and finance. Our imaginative and prescient for MoneyClip is to construct a full-service monetary utility that’s the better of all worlds – constructed for Canadians, adherent with native regulation, and powered by international DeFi markets to offer our customers full management and suppleness over their cash.”

Mr. Steinhart continued, “We’re constructing MoneyClip to make Canadians’ cash extremely environment friendly and productive. To do that, we’re beginning off 2022 by launching new engagement efforts and executing on a growth roadmap of services that supply higher yield, no lockups, straightforward funds, honest loans, and bulletproof safety – all powered by DeFi and blockchain infrastructure. In 2021 the core blockchain infrastructure wanted to help these options didn’t exist, however due to Wellfield’s Seamless branded IP and up to date developments by different friends within the house, our imaginative and prescient for MoneyClip can change into a actuality.”

Wellfield Launches Critical Growth Phase for MoneyClip App – Moving Rapidly Toward Traditional Finance Offerings Powered by Blockchain and DeFi Infrastructure (CNW Group/Wellfield Technologies)

Wellfield Launches Crucial Progress Part for MoneyClip App – Shifting Quickly Towards Conventional Finance Choices Powered by Blockchain and DeFi Infrastructure (CNW Group/Wellfield Applied sciences)

About MoneyClip

Background

Blockchain, mixed with the facility of the web, has the facility to reinvent the world’s monetary techniques, transferring intermediaries apart and making a decentralized monetary system that has the capability to take away frictions and prices, enhance safety, and improve belief. The superior infrastructure required to create finish to finish options and open new avenues for decentralized monetary companies are solely starting to be commercialized, and identical to the early web, these networks are lacking compelling functions that make the expertise related for folks’s on a regular basis lives. Immediately’s blockchain functions concentrate on speculative use instances relatively than providing conventional finance options powered by decentralized finance.

Imaginative and prescient

Wellfield has constructed MoneyClip with the imaginative and prescient of making an on a regular basis monetary utility powered by blockchain, that may act as a major level for shoppers to safe and make the most of their cash. The App presently presents P2P fee performance, and Wellfield has a multi-year plan to combine new blockchain infrastructure, because it turns into out there, to offer shoppers with entry to a full vary of DeFi and conventional finance companies.

The options offered via the App are powered by decentralized protocols developed in home by the Firm’s wholly owned subsidiary Seamless Logic Software program Ltd. (“Seamless”) and different partnerships and integrations with third events within the DeFi ecosystem.

About Wellfield Applied sciences

Wellfield is targeted on unlocking the facility of decentralized finance (DeFi) by constructing open and accessible decentralized protocols and likewise blockchain based mostly client merchandise. Seamless – the Firm’s protocol layer model – focuses on options that improve and optimize liquidity within the Ethereum ecosystem, make Bitcoin appropriate with DeFi, and allow decentralized cross blockchain alternate. MoneyClip – Wellfield’s utility layer model – is powered by DeFi to reinforce on a regular basis monetary merchandise and earn a living work for the best way folks stay.

Cautionary Discover

An inventory utility ready in accordance with the insurance policies of the TSXV (the “Itemizing Utility”) is offered on the Firm’s SEDAR profile, out there at www.sedar.com, and accommodates further info relating to Wellfield.

The contents of this press launch are expressly certified by the disclosures and contents of the Itemizing Utility and readers are inspired to evaluation the Itemizing Utility. Buyers are cautioned that, besides as disclosed within the Itemizing Utility, any info launched or acquired with respect to the Wellfield is probably not correct or full and shouldn’t be relied upon. Buying and selling within the securities of Wellfield must be thought-about extremely speculative.

The TSXV has neither accepted nor disapproved the contents of this information launch. Neither the TSXV nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts accountability for the adequacy or accuracy of this launch.

This information launch doesn’t represent a suggestion to promote, or a solicitation of a suggestion to purchase, any securities in the US. Wellfield’s securities haven’t been and won’t be registered below the US Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and is probably not supplied or bought inside the US or to U.S. Individuals until registered below the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is offered.

Cautionary Discover on Ahead-Wanting Statements

This press launch accommodates statements that represent “forward-looking info” (“forward-looking info”) inside the that means of the relevant Canadian securities laws. All statements, aside from statements of historic truth, are forward-looking info and are based mostly on expectations, estimates and projections as on the date of this information launch. Any assertion that discusses predictions, expectations, beliefs, plans, projections, goals, assumptions, future occasions or efficiency (usually however not all the time utilizing phrases similar to “expects”, or “doesn’t count on”, “is anticipated”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “might” or “may”, “would”, “may” or “will” be taken to happen or be achieved) are usually not statements of historic truth and could also be forward-looking info. Ahead-looking statements on this information launch embrace statements relating to the Firm’s success in launching the protocols and different applied sciences and utilities mentioned herein. In disclosing the forward-looking info contained on this press launch, the Firm has made sure assumptions. Though the Firm believes that the expectations mirrored in such forward-looking info are cheap, it may give no assurance that the expectations of any forward-looking info will show to be appropriate. Recognized and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking info. Such elements embrace, however are usually not restricted to: compliance with in depth authorities rules; home and overseas legal guidelines and rules adversely affecting the Firm’s enterprise and outcomes of operations; the influence of COVID-19; the decentralized finance trade typically, in Canada and overseas; and common enterprise, financial, aggressive, political and social uncertainties. Readers are cautioned that the foregoing listing is just not exhaustive and readers are inspired to evaluation the Itemizing Utility accessible on the Firm’s SEDAR profile at www.sedar.com. Readers are additional cautioned to not place undue reliance on forward-looking statements as there could be no assurance that the plans, intentions or expectations upon which they’re positioned will happen. Such info, though thought-about cheap by administration on the time of preparation, might show to be incorrect and precise outcomes might differ materially from these anticipated. Besides as required by legislation, the Firm disclaims any intention and assumes no obligation to replace or revise any forward-looking info to replicate precise outcomes, whether or not on account of new info, future occasions, adjustments in assumptions, adjustments in elements affecting such forward-looking info or in any other case.

SOURCE Wellfield Applied sciences

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