Silver Spring, MD, Oct. 18, 2022 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Firm”), a blockchain technology-focused firm, introduced immediately a $100,000 strategic funding in GlobexUS Holdings Corp; the mother or father of Horizon Globex GmbH, the know-how supplier and three way partnership accomplice of the Upstream change. Upstream, a MERJ Alternate market, is an affiliate of the World Federation of Exchanges and the primary securities change and buying and selling app constructed on Ethereum’s blockchain and operated underneath a securities change license and rules.
BTCS’ funding within the know-how supplier powering Upstream’s on-chain orderbook and progressive buying and selling app represents the Firm’s robust perception within the energy and enhanced use circumstances of blockchain applied sciences. We imagine Upstream’s market unlocks the potential for firms like BTCS to tokenize and checklist their securities for buying and selling on a next-generation change. Upstream ought to enable firms to realize direct entry to a worldwide mobile-first, crypto-savvy investor base who worth a real web3 expertise. Additional, Upstream’s platform permits for a streamlined in-app proxy voting course of in addition to the power to pay digital dividends on to a holder’s pockets through its app, which may cut back the friction which BTCS shareholders encountered with its Bividend.
“Over the past eight years, BTCS has been on the slicing fringe of U.S. public firms within the blockchain sector,” stated Charles Allen, Chief Govt Officer of BTCS. “Ethereum stays core to BTCS as our largest digital asset holding for which we presently run 240 validator nodes with over 8,400 ETH staked. Whereas Ethereum is extensively referred to as a platform to deploy NFTs, it has a lot broader use circumstances, such because the buying and selling of securities. As an infrastructure supplier, our funding in an Ethereum-based layer 2 utility not solely showcases the facility of blockchains however the potential of BTCS’ future. As the primary U.S. publicly listed firm to subject a dividend payable in Bitcoin earlier in 2022 (the “Bividend”), potential tokenization and twin itemizing of our shares on Upstream’s platform would spotlight our additional utilization of disruptive blockchain capabilities that assist our perception within the fast-growing trade,” continued Allen.
Whereas companies such because the New York Inventory Alternate are constructed utilizing know-how like Linux, Upstream is developed on Ethereum’s blockchain, the world’s second-largest blockchain community secured by greater than 400,000 validators worldwide, together with BTCS. “In contrast to conventional markets, that are affected by bare shorting, securities lending, phantom shares, and a complete host of different points, these practices may be eradicated with a blockchain-based market through which settlement and transaction happen concurrently,” stated Michael Prevoznik, Chief Monetary Officer of BTCS.
BTCS is an early mover within the blockchain and digital asset ecosystem and the primary “Pure Play” U.S. publicly traded firm targeted on blockchain infrastructure and know-how. Via its blockchain infrastructure operations, the Firm secures Proof-f-Stake blockchains by actively validating blockchain transactions and is rewarded with native digital tokens. The Firm is growing a proprietary Staking-as-a-Service platform to permit customers to stake and delegate supported cryptocurrencies by way of a non-custodial platform, which it plans to combine with its Digital Asset Dashboard, now in beta launch. BTCS’ proprietary Digital Asset Platform presently helps six exchanges and over 800 digital belongings, and the Firm plans to additional broaden its suite of performance-tracking instruments, add further centralized and decentralized exchanges, in addition to wallets, and stake pool monitoring. For extra info go to: www.btcs.com.
Upstream, a MERJ Alternate Market (https://merj.exchange), is a totally regulated world inventory change for digital securities and NFTs. Powered by Horizon’s Ethereum-L2 matching engine know-how, the platform permits customers to commerce NFTs, and put money into securities for IPOs, crowdfunded firms, U.S. & worldwide equities, and movie star ventures utilizing the Upstream app. For extra info, please go to https://upstream.exchange.
Cautionary Notice Concerning Ahead-Wanting Statements
Sure statements on this press launch represent “forward-looking statements” inside the which means of the federal securities legal guidelines together with statements relating to the potential Upstream brings firms like BTCS, a possible twin itemizing of BTCS shares on Upstream and the advantages to shareholders introduced by the Upstream platform. Phrases corresponding to “could,” “may,” “will,” “ought to,” “imagine,” “count on,” “anticipate,” “estimate,” “proceed,” “predict,” “forecast,” “mission,” “plan,” “intend” or related expressions, or statements relating to intent, perception, or present expectations, are forward-looking statements. Whereas the Firm believes these forward-looking statements are cheap, undue reliance shouldn’t be positioned on any such forward-looking statements, that are primarily based on info out there to us on the date of this launch. These forward-looking statements are primarily based upon present estimates and assumptions and are topic to numerous dangers and uncertainties, together with, with out limitation, unanticipated points with Upstream, regulatory points, acceptance of the brand new platform by buyers in addition to dangers set forth within the Firm’s filings with the Securities and Alternate Fee together with its Kind 10-Okay for the 12 months ended December 31, 2021. Thus, precise outcomes may very well be materially completely different. The Firm expressly disclaims any obligation to replace or alter statements, whether or not because of new info, future occasions, or in any other case, besides as required by legislation.
Adele Carey, VP of Investor Relations