WPCS Updates Bitcoin Platform Rollout Plan
January 21 2014 - 7:00AM
Marketwired
WPCS Updates Bitcoin Platform Rollout Plan
EXTON, PA--(Marketwired - Jan 21, 2014) - WPCS International
Incorporated (NASDAQ: WPCS) today reported continued progress with
its rollout strategy for its BTX Trader ("BTX") Bitcoin trading
platform (www.btxtrader.com). According to Interim CEO
Sebastian Giordano, "Though the acquisition was only recently
completed on December 17, 2013, we are formalizing our plans and
undertaking several initiatives to launch and begin monetizing this
exciting opportunity."
Divya Thakur, BTX Chief Technology Officer stated that, "BTX is
the first trading platform to enable Bitcoin traders and investors
to access market data as well as execute orders for the top six (6)
Bitcoin exchanges in a single application. What further
differentiates BTX from any other product in the market is the
opportunity to be the premier algorithmic trading platform for
digital currencies, allowing traders to execute orders and trading
strategies not available on other exchanges, such as 'stop limit';
which BTX already offers."
Ilya Subkhankulov, BTX Chief Operating Officer, provided
additional clarification on BTX's rollout plan, indicating that,
"In addition to our core trading functionality, the current free
beta version of our Windows-based desktop application provides
users with the unique ability to:
i. Trade with an institutional-grade user experience;
ii. Access reliable and curated market data; and, iii. Utilize
sophisticated market data visualization tools, such as tick
charts.
Over the coming weeks and months, we will be announcing a
continuing stream of functionality enhancements for our beta users,
including:
i. Broader platform accessibility via web and mobile
applications; ii. Integration with other exchanges and digital
currencies; and, iii. Features, such as commission estimates
and P&L tracking.
While we will disclose our BTX revenue model at a future date,
we are still projecting an official launch of the BTX platform in
the 2nd Quarter of calendar 2014," Subkhankulov concluded.
In other BTX developments, Giordano continued that, "While the
BTX development team works diligently to prepare for launch, we are
taking other measures to plant the seeds for future potential
growth of this segment of our business. We have recently
engaged the services of the New York City-based law firm of Merle,
Brown & Nakamura, P.C., which has represented numerous money
transmitters, check cashers and foreign exchange companies. We
are very excited about forging this relationship to help guide us
through the domestic and international regulatory requirements
related to Bitcoin."
About WPCS International Incorporated
WPCS operates in two business segments including: (1) providing
communications infrastructure contracting services to the public
services, healthcare, energy and corporate enterprise markets
worldwide; and (2) developing a Bitcoin trading platform. For more
information, please visit www.wpcs.com and www.btxtrader.com.
Statements about the company's future expectations,
including future revenue and earnings and all other statements in
this press release, other than historical facts, are
"forward-looking" statements and are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements
involve risks and uncertainties and are subject to change at any
time. The company's actual results could differ materially
from expected results. In reflecting subsequent events or
circumstances, the company undertakes no obligation to update
forward-looking statements.
CONTACT: WPCS International Incorporated 610-903-0400
x104 Email Contact
DropCar (NASDAQ:DCAR)
Historical Stock Chart
From Mar 2024 to Apr 2024
DropCar (NASDAQ:DCAR)
Historical Stock Chart
From Apr 2023 to Apr 2024