Newnote Financial Corp. (the “Company”), (CSE: NEU; OTCQB:
NWWTF; FSE: 1W4) is pleased to announce it has purchased an equity
position in the crypto-currency payment processor Coinpayments Inc.
(“Coinpayments”)
Coinpayments Inc. is a privately held payment processor
operating the Coinpayments website, a service similar to Coinbase
and Bitpay. Coinbase has raised $25 million in a Series B round led
by Andreessen Horowitz in December 2013 while in May 2014 BitPay
officially raised $30 million in Series A funding in the
largest-ever financing round for a bitcoin company. The round was
led by Index Ventures, and included Yahoo founder Jerry Yang's AME
Cloud Ventures, Felicis Ventures, PayPal founder Peter Thiel's
Founders Fund, Horizons Ventures, RRE Ventures, Virgin Galactic's
Sir Richard Branson and TTV Capital.
Coinpayments differs from its competitors in that it accepts
over 50 different types of crypto-currency and has grown to become
the third largest crypto-currency payment processor and the largest
multi-currency payment processor, with over 7500 merchants in 120
different countries, processing nearly $1,000,000 per month worth
of Bitcoin, Litecoin, Dogecoin, Peercoin, Omnicoin, Darkcoin,
Maxcoin and dozens of others. In addition to payment processing,
the company offers its merchants a listing in the largest Crypto
store directory on the web where visitors can purchase thousands of
products and services using any supported crypto-currencies.
Coinpayments offers its merchants Point-of-Sale checkout in 24
languages with support for 21 shopping cart plugins enabling
merchants to easily integrate crypto payments within minutes.
Popular supported shopping carts include OpenCart, osCommerce,
Magneto, Zen Cart, Wordpress and WooCommerce among others.
Coinpayments generates revenue from transaction fees, advertising,
and other merchant services. Additionally, Coinpayments provides an
innovative currency launch platform that gives new currency
developers support in the form of merchant acceptance, blockchain
explorer, free coin faucets, and listing in its store
directory.
A competitive advantage of Coinpayments is that it offers the
largest multi-crypto-currency wallet on the web supporting over 50
different crypto-currencies at no additional cost. Web wallets are
convenient and can be accessed from any mobile device or desktop
computer. Balances can be applied directly during checkout with any
of their merchants.
Revenue, transaction volume and number of registered clients are
all expected to more than triple by June of 2015 at the current
rate of growth. Newnote Financial Corp. has paid to Coinpayments
Inc., CAD $100,000.00 plus 1.5 million shares priced at $0.15 cents
and 600,000 warrants priced up to $1.00. Newnote received 20%
equity in Coinpayments.
Paul Dickson, Newnote President and CEO states: “This is a
strategic investment for us for a multitude of reasons. Payment
processing is clearly the most lucrative area of crypto-currencies
and our primary focus. Our proprietary crypto-currency exchange
platform will enable merchants to liquidate crypto-currencies for
cash and then transfer funds to their accounts through our
previously announced partner Net-Cents.”
Coinpayments Inc. Chairman and CEO Alex Alexandrov says: “We are
constantly looking for innovative ways to improve the services we
offer our merchant customers. This deal with Newnote is in the best
interests of our customers and the emerging peer-to-peer payment
marketplace as a whole. Credit for this deal and our many
advancements to date goes to a great Coinpayments team, which I am
delighted to say, includes the original Coinpayments.net
founders.”
Mr. Alexandrov will be joining Newnote as a technical
advisor.
About Newnote Financial Corp.
Newnote Financial Corp. is pioneering innovative crypto-currency
and Bitcoin related software products and services geared at the
growing business segment of this bourgeoning market. Newnote has
positioned itself to be a leading contender in delivering
opportunities to startup businesses world-wide and continues to
create new opportunities for its clients and its shareholders.
Newnote has a clear vision on the direction in which this new and
unique business is headed and is continually adjusting and adopting
new business practices in both technology and the policies &
procedures required by banks and securities regulators.
About Coinpayments Inc.
Coinpayments Inc. is the first and largest multi-crypto-currency
payment processor servicing over 7500 merchants in more than 120
countries. It has grown by word-of-mouth by establishing a
reputation of integrity and excellence. Coinpayments manages the
largest Crypto-currency Store Directory and its merchant customers
enjoy the only web wallet with support for 50 cryptocurrencies
including Bitcoin, Litecoin, Dogecoin, Peercoin, Omnicoin,
Darkcoin, Maxcoin and dozens of others. Coinpayments has been an
active supporter of several important charities accepting
cryptocurrencies.
Contact: Alex Alexandrov, Chairman & CEO
Coinpayments Inc.
Vancouver, BC
Alexander@Coinpayments.net
toll free: 1-844-PAY-COIN (1-844-729-2646)
web: www.coinpayments.net
Newnote Financial Contact Information
Paul Dickson
President, CEO & Director
Newnote Financial Corp.
CSE: NEU; OTCQB: NWWTF; FSE: 1W4
Suite 709-700 West Pender Street
Vancouver, BC V6C 1G8
direct: 604-229-0480
fax: 604-685-3833
web: www.newnote.com
Forward-Looking Information:
This press release may include forward-looking information
within the meaning of Canadian securities legislation, concerning
the business and trading in the common stock of Newnote Financial
Corp. The forward-looking information is based on certain key
expectations and assumptions made by the company's management.
Although the company believes that the expectations and assumptions
on which such forward-looking information is based are reasonable,
undue reliance should not be placed on the forward-looking
information because the company can give no assurance that they
will prove to be correct. These forward-looking statements are made
as of the date of this press release and the company disclaims any
intent or obligation to update publicly any forward-looking
information, whether as a result of new information, future events
or results or otherwise, other than as required by applicable
securities laws.
Forecasts of growth in Coinpayment’s revenue, transaction volume
and number of registered clients is subject to external influences
such as Bitcoin and Cryptocurrency adoption, competition from other
established players, economic conditions. Its forecast growth rate
is also subject to, among other things, management being able to
maintain the growth rate and to obtain financing to handle the
increased demand.
The CSE has not reviewed, approved or disapproved the content of
this press release.
Coinpayments Inc.Vancouver, BCAlex Alexandrov, Chairman &
CEOAlexander@Coinpayments.nettoll free: 1-844-PAY-COIN
(1-844-729-2646)web: www.coinpayments.netorNewnote Financial
Corp.Paul DicksonPresident, CEO & Directordirect:
604-229-0480fax: 604-685-3833web: www.newnote.com