AVENTURA, Fla., Jan. 04, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its wholly owned subsidiary Belfrics has entered into a partnership with THRESH0LD, a UK-based enterprise-grade digital asset wallet provider. Belfrics offers a seamless trading experience for users, and protection of user funds is a high priority for the company. This partnership with THRESH0LD brings reinforced security ensuring that users have confidence that their funds are safe and secure. Belfrics launched its Indian exchange in November 2021, and the Company is scaling its operations in existing markets including Malaysia, Singapore, Kenya, Tanzania, Nigeria, Bahrain and UAE.
THRESH0LD brings robust wallet security, back-office efficiency when processing digital asset transactions and enables immediate connectivity to thousands of assets.
Suren Ravindra, Co-Founder and CPO of THRESH0LD, said, “Belfrics is a globally recognized industry name, and it was great to be able to support them in their mission to provide the Indian and global ecosystems with a high-quality digital asset service. We have seen incredible growth in the industry and we are excited for the journey with Belfrics to bring widespread adoption to the masses.”
THRESH0LD’s Multi-Party Computation (MPC) keyless wallet infrastructure works without the need for private keys but rather uses a rule-based authentication process. This means there is no private key risk and that considerably reduces the chances of security compromise. THRESH0LD also significantly reduces transaction costs and time, ensuring efficient scaling of operations for Belfrics, new revenue opportunities and lower fees for their customers. THRESH0LD currently supports over 29 blockchains and thousands of assets (full list here), giving Belfrics a wide range of assets to offer to customers. In addition to Belfrics, THRESH0LD is trusted by Patricia, BuyCoins, Busha, Tradefada, and Kite Financial.
In the fast-growing cryptocurrency world, THRESH0LD is maintaining its position as an industry leader with the launch of the DeFiBOX - an easy way for companies to interact with DeFi protocols, opening a world of new services for Belfrics to offer users.
Praveen Kumar, CEO and Founder of Belfrics Group, said, “As a global exchange, Belfrics prides itself on robust security, low fees and a variety of digital asset products for users. The THRESH0LD team shares our collaborative vision of enabling people to efficiently access digital asset services while keeping optimal security. Their secure solution was easy to integrate with great support from their experienced team - THRESH0LD is the right partner to assist in our growth.”
Robert Grinberg, CEO and President of Life Clips, Inc. said, "Belfrics has already made tremendous progress in the last 10-weeks, since we closed our acquisition. As crypto continues to gain mainstream traction, we will continue to enhance their exchange and platform with valuable wealth-building tools to truly make crypto accessible for all." Mr. Grinberg continued, "We look forward to continuing to work with the entire Belfrics team, whose innovative spirit, customer-first approach and drive for change will not only help us grow the Belfrics business, but also bring greater choice to market participants across the globe. We are also continuing to explore additional acquisitions that will provide us with the opportunity to drive enhanced long-term value creation for our shareholders."
About Life Clips
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the Yuru voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by employers to raise awareness of employees’ mental health. Cognitive Apps’ Yuru is a 3-in-1 tool developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Yuru is available on Apple‘s App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com
About Belfrics
Belfrics is a digital exchange platform founded in 2014 that operates on its proprietary blockchain platform with a market presence in over 8 countries including Malaysia, Singapore, Kenya, Tanzania, Nigeria, Bahrain and UAE, and has recently launched into a new market, India, a key market that was reported to have grown from $923M to $6.6B in May 2021 according to blockchain data platform, Chainalysis.
About THRESH0LD
THRESH0LD is a secure wallet infrastructure solution built to help blockchain companies boost profitability without compromising on security or control of assets. THRESH0LD is currently being employed by over 40+ digital asset enterprises across Africa, Australia, Europe and Asia.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
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