MoneyTrac
Technology, Inc. Establishes Joint Venture Partnership with
Crypto Value Management System, LLC
San
Diego, CA
-- January 18, 2018 -- InvestorsHub NewsWire -- Global Payout,
Inc.
(OTCPink:
GOHE) ("Global") is pleased to announce that its
majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC",
the "Company"), has secured a Joint Venture Compliance,
Crypto-Commodity, iCloud, and Strategic Partnership Agreement with
Crypto Value Management System, LLC a Delaware company that has
secured the exclusive California License for a Crypto-Currency
Exchange platform ("CVMS"). This platform will effectively bolster
each of the companies and their ability to provide financial
technology solutions to businesses operating across
a number
of rapidly
expanding alternative market sectors, including the
multi-billion-dollar cannabis industry.
CVMS acquired
an exclusive license for the state of California for a
cryptocurrency utility token exchange defined as an "In-State
Crypto-Commodity Exchange - ICCE," a member only blockchain
commodity that can be utilized to service businesses in need of
banking solutions. CVMS, in conjunction with their compliance
partner Integrated Compliance Solutions (ICS), have developed a
secure, compliant blockchain to service the CRB (Cannabis Related
Business) space. The CVMS exclusive new
blockchain technology is the most advanced crypto-commodity
exchange platform available. It will also serve as the backbone of
the token exchange platform that MTRAC plans to co-develop for its
MTRAC-Token with CVMS and other key financial technology and
compliance partners.
Said MTRAC
CEO, Vanessa Luna: "Securing this JV Partnership Agreement with
CVMS marks a huge milestone for MoneyTrac and our continued pursuit of
banking the "un-bankable" within the cannabis industry. The
exclusive licenses CVMS has worked diligently to acquire in the
State of California are critical pieces to the foundation we are
developing for a token exchange platform that will become one of
the most valuable resources to businesses in an industry where
millions of dollars are exchanged in commerce every
day."
Said CVMS CEO,
Christopher Johnson: "This JV Partnership Agreement with the
MoneyTrac
Technology team
is very much about creating an opportunity to leverage the
licensing rights we have acquired in the evolving cryptocurrency
market sector and which we believe are incredibly valuable for the
development of an effective exchange platform for businesses in the
cannabis industry. MoneyTrac has done a fantastic job of
cultivating a number of very strategic partnerships and creating a
very solid network of individuals and entities in both financial
technology and cannabis that are poised to be game changers in
delivering the precise solutions that are sorely needed in the
alternative banking market sector."
In addition to
the co-development of a crypto-commodity exchange platform, MTRAC
will also provide CVMS with vital Fintech, sales, marketing,
networking, brand development support and guidance through this JV
Partnership Agreement to ensure CVMS is effectively positioned for
launch and expansion throughout the state of California.
About Global Payout, Inc. (OTC
Pink: GOHE)
Since the
Company's inception in 2009, Global Payout, Inc. has been a leading
provider of comprehensive and customized prepaid payment solutions
for domestic and international organizations distributing money
worldwide. In 2014, Global introduced its first online payment
platform called the Consolidated Payment Gateway (CPG), which
allowed its enterprise clients to transfer money to international
bank accounts, mobile accounts, and prepaid card
accounts. The development of the CPG became the foundation for the
introduction of its new, state of the art FINTECH payment system in
2017, for both online and mobile applications to allow account
holders to maximize an expanded suite of financial services and
minimize operational costs. Global will continue to offer their
FINTECH payment system to many vertical markets for support of
foreign currency exchange and digital currency, including ongoing
support of the banking industry and international
governments.
About MoneyTrac
Technology
MoneyTrac Technology, Inc. is a pioneer
in offering a full-service solution for alternative banking and
electronic financial solutions and provides all aspects of
financial technology including E-Wallet and mobile apps services
for businesses and companies in various "high-risk"
industries. MoneyTrac's
technology
platform allows for its clients to access their financial
information from anywhere in the world, in addition to providing
tracking and compliance to help them manage and control the flow of
all revenue through their business.
About Crypto Value Management System
Crypto Value
Management System, LLC's ("CVMS") mission is to present a new kind
of blockchain, that leverages the power of compliance, to provide a
fast, safe, and secure method of payment to the MRE space. CVMS
through its unique compliant approach to blockchain has earned the
approval from multiple banking partners in the MRE space that
provide the critical on boarding and off boarding of funds. This
model will provide a strong B2B exchange that will reduce violent
crime, illegal money, and other illicit activities.
Unique
features of CVMS over competitors are: 1. CVMS is a commodity, not
a currency, so Money Transmitter Licensing and Money Service
Business licensing do not apply. The commodity is backed by
the cash deposit on a dollar for dollar basis, so there is not
fluctuation in the value like Bitcoin. Another key strength is that
each customer is fully vetted for "Know Your Customer"
requirements, rather than being anonymous like Bitcoin, so the
potential for money laundering or being used for illicit activity
is mitigated.
CVMS solves a
couple of really problems in the marijuana space. First, CVMS
solves the need for state taxing authorities and utility providers
to be paid electronically, rather than have duffle bags full of
cash show up at their facilities that they are not equipped to
handle and poses a significant security risk. Second, a key area of focus
from bank regulators is tracking that inventory sold in stores was
legally obtained. In a cash economy, it is
difficult to track the purchases and validate that inventory did
not move across state lines. With all participants in the
CVMS ecosystem being fully vetted for "KYC", CVMS helps banks track
that inventory was legally obtained.
Forward-Looking Statements Disclaimer:
This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. In some
cases, you can identify forward-looking statements by the following
words: "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "ongoing," "plan," "potential,"
"predict," "project," "should," "will," "would," or the negative of
these terms or other comparable terminology, although not all
forward-looking statements contain these words. Forward-looking
statements are not a guarantee of future performance or results,
and will not necessarily be accurate indications of the times at,
or by, which such performance or results will be achieved.
Forward-looking statements are based on information available at
the time the statements are made and involve known and unknown
risks, uncertainty and other factors that may cause our results,
levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered
in light
of all
filings of the Company that are contained in the Edgar Archives of
the Securities and Exchange Commission at www.sec.gov.
Public Relations and Media Contact:
Global
Payout
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Office
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