Alternet Systems Advances Strategic Initiative to Become a Leading Global Digital Currency Exchange Through OneMarket
Alternet Systems, Inc. (OTCQB: ALYI) (the "Company"), a business to business facilitator for digital currency and mobile commerce services in the digital asset and virtual currency ecosystem, today announced that the Company continues to make progress on their strategic initiative to become a leading global digital currency exchange through its wholly-owned subsidiary OneMarket (www.onemarket.net).
The Company continues to aggressively pursue the highly anticipated New York State BitLicense, which will further facilitate a global exchange roll-up strategy.
In July of 2014, the New York Department of Financial Services revealed its regulatory framework, stating that businesses that receive, transmit, store, exchange, issue or convert virtual currency for customers will need to be licensed. New York State's top financial regulator, Benjamin Lawsky, the superintendent of the state's Department of Financial Services recently stated that he hoped to approve the first companies early this year according to the New York Times. Coinbase, a leading industry wallet service, recently announced a $75 million funding which included the New York Stock Exchange and became the first licensed U.S. based Bitcoin exchange approved to operate as an exchange in 24 states. The Company believes that this was an important industry milestone and has positive commercial implications for other companies such as Alternet Systems going forward.
Alternet Systems, through OneMarket, is setting the agreements, plans and procedures in place to become a global digital currency exchange. In doing so, OneMarket will buy/sell digital currency, foreign currencies and commodities. Additionally, OneMarket will offer an entire suite of financial and payment consumer products designed for digital and fiat currencies such as a debit and credit card.
Henryk Dabrowski, CEO of Alternet Systems, stated, "Coinbase's recent funding and launch of the first licensed Bitcoin exchange was an important signal to investors of the commercial opportunities in the growing market for digital assets. Alternet continues our aggressive pursuit of a license in New York State, working closely with their regulators, as we are also evaluating several global opportunities to utilize our public company platform and strong industry relationships to possibly consummate strategic acquisitions of currency exchanges. It is our intent to continue pursuing a strategy of cooperation with regulators so that when we are granted permission we have put all the necessary building blocks in place to take the maximum advantage of our ability to monetize."
About Alternet Systems, Inc.
Alternet Systems, Inc. is an enterprise accelerator company focused on the complementary, high-growth markets of Digital Currency and Mobile and Internet Commerce products and services. Through its subsidiaries, Alternet captures and converts extraordinary growth opportunities surrounding the explosion of newly adapted Internet technologies and platforms.
More information about Alternet and its subsidiaries can be found at http://www.alternetsystems.com/ and by following the company on Twitter http://www.twitter.com/alternetsystems/
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.