Company Management Reports the Successful Completion of Key
Strategic Initiatives that are positioning the Company to take
advantage for the escalating demand for financial and lifestyle
solutions for a growing segment of the population who have been
left out of the system.
MIAMI
BEACH, Fla., July 20,
2023 /PRNewswire/ -- Cuentas, Inc. (Nasdaq: CUEN)
(Nasdaq: CUENW) ("Cuentas"), the Company that is creating an
alternative financial ecosystem for the growing, hard-working
segment of the population who do not have access to traditional
financial and lifestyle alternatives, today released their
shareholder update, underscoring the Company's progress and the new
company branding and unified focus on serving the underserved. Over
the past 12 months, Cuentas Management has successfully launched
its new mobile platform, Cuentas Mobile as well as the recently
announced, sustainable community technology solution Cuentas Casa,
which stands to revolutionize sustainable and affordable living.
To round out it its core ecosystem, the Company is currently
on track to launch its new Cuentas Money Application and financial
solutions package, in the fall of 2023. Management believes that
these accomplishments put the Company in the position to grow
significantly in the coming months and years, updating, upgrading,
and rebranding around its core mission providing tools for managing
life and solutions for living life to the millions of hardworking
Americans who have been left out of the system.
Management further reports that its successful stock split and
subsequent NASDAQ confirmation have enabled the company to focus on
its core business objective of building a complete ecosystem for
what Forbes has called a "the next trillion-dollar market
opportunity" (LINK Forbes Article).
"It has been an incredible year as we have taken the Company out
of its infancy and into a new focus on serving the underserved"
said Cuentas CEO and Co-Founder, Arik
Maimon. "We are hitting our stride and looking forward to an
exciting next 12 months." Highlights from management
include:
CUENTAS Mobile Launch. Company's launch of Cuentas
Mobile represents an important evolution in its Telco services
solution. Cuentas Mobile (www.cuentasmobile.com) offers
consumers straightforward access to affordable telco services,
including free talk and text in each package.
CUENTAS Money Update. Cuentas is re-imagining its
money solution in partnership with global financial giant, InComm,
creating a digitally driven money management platform that can be
directly integrated into its mobile devices as well as into
physical locations via network connectivity or directly in Cuentas
cards, a collection of debit and bonus cards which management
expects to launch in the fall of 2023. (LINK Nasdaq
Article)
CUENTAS SDI Partnership. As reported earlier this
week, Cuentas has brought in its partner, OLB to take the majority
interest in Cuentas' 31,000+ convenience store "bodega"
network. Cuentas will be providing its Mobile and Money
solutions through this growing local store platform, serving local
urban communities with big-box type retail options while OLB will
manage the day-to-day business from core retail to advanced point
of sale integration.
CUENTAS Casa Successful Initial Project and Growing
Pipeline: Built upon the Company's unique deal with
revolutionary sustainable building technology company Renco,
Cuentas is partnering to roll out entire sustainable
residential communities in key areas in Florida hardest hit by a rental housing crises
that a recent Harvard Report has called "the worst in the nation"
(LINK: Housing Crisis). In under six months, Cuentas has locked up
the land option for five new projects which represent over 1500
residential units in over 100 acres across Florida, with the initial test project
complete and the next nearing ground break. Management
believes that this bold move creates a first-of-its kind and
incredibly powerful third pillar to Cuentas Mobile and Cuentas
money, with actual physical community development.
"Tying physical construction technology to our portfolio of
fin-tech solutions dramatically broadens our portfolio, creating
the opportunity for immense, measurable return and value creation",
said Cuentas President and Co-Founder, Michael De Prado. "The response from the
communities we are impacting, as well as shareholders and partners,
has been overwhelming."
In addition to its core initiatives, the Company has launched a
rebranding program, bringing together the three pillars of Cuentas
Mobile, Cuentas Money and Cuentas Casa into a single web presence,
Cuentas.com, while re-launching the Company's mobile site,
Cuentasmobile.com with fresh branding. Management expects further
product and solution launches as well as new Cuentas Casa
development announcements to continue throughout the year.
NEW CUENTAS POSITIONING BRINGS A BROAD RANGE OF SERVICES
TOGETHER UNDER ONE ROOF
"We have spent the last year investing in bringing together
meaningful solutions that serve the underserved, and the progress
is inspiring", continued Maimon. "We do not believe anyone has ever
approached the underserved problem with such a broad scope of
integrated solutions."
About CUENTAS Mobile
CUENTAS Mobile is Cuentas' first step in our plan to bring
increasingly powerful and cost-efficient telecommunications
solutions to those that have been unable to acquire or afford them.
With a growing selection of plans and services, delivered on the
nation's largest 5G and 4G LTE network, Cuentas Mobile puts the
power of the network in the palm of your hand.
About CUENTAS Money
CUENTAS Money is designed to provide a broad range of instant
access financial services and solutions to the growing segment of
the population who do not have access to such services. In
partnership combines a powerful application with even more powerful
access, giving users the control of managing all their
transactions, payments, money transfers, transfers in one
place.
About CUENTAS SDI
Cuentas SDI, LLC. is the company that owns the platform of
Black011.com and the network serving over 31,000 convenience stores
("Bodegas") in and around New York
and New Jersey. The Company is managed and controlled by The
OLB Group, Inc. Cuentas Inc., is a shareholder in Cuentas SDI, LLC.
Black011.com is the network that will deliver a range of services
to the network's customers, including digital incentives,
promotions, gift cards, discounts, top up services,
telecommunication services, money transfer solutions and other
digital and physical products and solutions true the network of
financial partners.
About CUENTAS Casa
CUENTAS CASA's unique approach to property development combines
state-of-the-art sustainable building technology with intelligent
property management systems with the goal of developing complete
residential communities in a fraction of the time and at a fraction
of the cost of traditional development. By selectively acquiring
locations near metropolitan areas and immediately working with our
partners to move into the construction phase, CUENTAS is able to
pass on the savings in construction and maintenance directly to the
resident. Management has seen rental prices reduced by as much as
30% over traditional residential communities.
About Cuentas
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is creating an
alternative financial ecosystem for the growing population who do
not have access to traditional financial alternatives. The
Company's proprietary technologies help to integrate FinTech
(Financial Technology), e-finance and e-commerce services into
solutions that deliver next generation digital financial services
to the under-banked and underserved populations across America and
eventually, the world. The Cuentas Platform integrates Cuentas
Mobile, the Company's Telecommunications solution, with CUENTAS
Money, its core financial services offerings to help entire
communities enter the modern financial marketplace. In Q1 of 2023
Cuentas launched Cuentas Casa, an alternative housing community
development solution based on a revolutionary, patented,
sustainable building system. Management believes adding this
construction technology to its offerings bridges the 'need gap',
providing a first of its kind combination of financial and
lifestyle solutions to the underbanked and underserved, putting the
Company in a unique position to take advantage of what has been
called a Trillion-dollar opportunity (LINK Forbes Article).
CUENTAS LINK: https://cuentas.com
Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in section 27a of the United States Securities Act
of 1933, as amended, and section 21e of the United States
Securities Exchange Act of 1934, as amended. Statements in this
press release, which are not purely historical, are forward-looking
statements and include any statements regarding beliefs, plans,
expectations, or intentions regarding the future. Except for the
historical information presented herein, matters discussed in this
news release contain forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to
differ materially from any future results, performance or
achievements expressed or implied by such statements. Statements
that are not historical facts, including statements that are
preceded by, followed by, or that include such words as "believe,"
"plan," or "expect" or similar statements are forward-looking
statements.
Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com
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SOURCE Cuentas, Inc.