VANCOUVER, British Columbia, May 22, 2018 (GLOBE NEWSWIRE) -- GAR Limited. d/b/a/ Netcoins (“NETC” or the "Company") (CSE:NETC) is pleased to announce that another white-label partner, Cash4Coins LLC (“Cash4Coins”), has launched in the US, and is now actively transacting cryptocurrency. Cash4Coins is a Texas-based firm whose virtual crypto ATM platform is powered by Netcoins. The United States has a very large and growing crypto market, and Cash4Coins is taking a leadership position in the Bitcoin ATM space via virtual ATMs. Cash4Coins is operating their own virtual ATMs, and also signing up retailers under their own banner further expanding their reach into physical locations.
Cash4Coins, as a white-label partner, uses their own liquidity and exchange accounts to supply customer Bitcoin. Netcoins provides the software and technology underpinnings, and receives a percentage based fee on each transaction, just like with Netcoins branded virtual ATMs.
“The continued expansion and adoption of our white label program, particularly into the United States, gives us great confidence in our business model,” said Netcoins CEO, Mark Binns. “Having third-parties bear the cost of establishing retail locations, while our software runs their ATMs and earns a profit on every transaction, is an excellent channel for us. It is akin to the Intel Inside model tied to PCs sales globally. These third-party branded ATMs are “Powered by Netcoins”. We look forward to expanding our white-label business across the US and internationally over the coming weeks and months.”
About the Company
The Company is in the business of developing software to better facilitate the purchase and sale of bitcoin for end-users. Netcoins enables the sale of bitcoin through its software at retail outlets, through individual agents and directly to clients purchasing in large quantities.
ON BEHALF OF THE BOARD OF DIRECTORS
“Mark Binns”
Mark Binns
CEO and Director
For Investor Relations Inquiries please contact Skanderbeg Capital Advisors at 604 687 7130 or email ir@gonetcoins.com
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Cautionary Statement Regarding “Forward-Looking” Information
This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.