Newnote Financial Corp. Acquires Equity in Major Crypto-Currency Payment Processor Coinpayments Inc.
Newnote Financial Corp. (the “Company”), (CSE: NEU; OTCQB: NWWTF; FSE: 1W4) is pleased to announce it has purchased an equity position in the crypto-currency payment processor Coinpayments Inc. (“Coinpayments”)
Coinpayments Inc. is a privately held payment processor operating the Coinpayments website, a service similar to Coinbase and Bitpay. Coinbase has raised $25 million in a Series B round led by Andreessen Horowitz in December 2013 while in May 2014 BitPay officially raised $30 million in Series A funding in the largest-ever financing round for a bitcoin company. The round was led by Index Ventures, and included Yahoo founder Jerry Yang's AME Cloud Ventures, Felicis Ventures, PayPal founder Peter Thiel's Founders Fund, Horizons Ventures, RRE Ventures, Virgin Galactic's Sir Richard Branson and TTV Capital.
Coinpayments differs from its competitors in that it accepts over 50 different types of crypto-currency and has grown to become the third largest crypto-currency payment processor and the largest multi-currency payment processor, with over 7500 merchants in 120 different countries, processing nearly $1,000,000 per month worth of Bitcoin, Litecoin, Dogecoin, Peercoin, Omnicoin, Darkcoin, Maxcoin and dozens of others. In addition to payment processing, the company offers its merchants a listing in the largest Crypto store directory on the web where visitors can purchase thousands of products and services using any supported crypto-currencies.
Coinpayments offers its merchants Point-of-Sale checkout in 24 languages with support for 21 shopping cart plugins enabling merchants to easily integrate crypto payments within minutes. Popular supported shopping carts include OpenCart, osCommerce, Magneto, Zen Cart, Wordpress and WooCommerce among others. Coinpayments generates revenue from transaction fees, advertising, and other merchant services. Additionally, Coinpayments provides an innovative currency launch platform that gives new currency developers support in the form of merchant acceptance, blockchain explorer, free coin faucets, and listing in its store directory.
A competitive advantage of Coinpayments is that it offers the largest multi-crypto-currency wallet on the web supporting over 50 different crypto-currencies at no additional cost. Web wallets are convenient and can be accessed from any mobile device or desktop computer. Balances can be applied directly during checkout with any of their merchants.
Revenue, transaction volume and number of registered clients are all expected to more than triple by June of 2015 at the current rate of growth. Newnote Financial Corp. has paid to Coinpayments Inc., CAD $100,000.00 plus 1.5 million shares priced at $0.15 cents and 600,000 warrants priced up to $1.00. Newnote received 20% equity in Coinpayments.
Paul Dickson, Newnote President and CEO states: “This is a strategic investment for us for a multitude of reasons. Payment processing is clearly the most lucrative area of crypto-currencies and our primary focus. Our proprietary crypto-currency exchange platform will enable merchants to liquidate crypto-currencies for cash and then transfer funds to their accounts through our previously announced partner Net-Cents.”
Coinpayments Inc. Chairman and CEO Alex Alexandrov says: “We are constantly looking for innovative ways to improve the services we offer our merchant customers. This deal with Newnote is in the best interests of our customers and the emerging peer-to-peer payment marketplace as a whole. Credit for this deal and our many advancements to date goes to a great Coinpayments team, which I am delighted to say, includes the original Coinpayments.net founders.”
Mr. Alexandrov will be joining Newnote as a technical advisor.
About Newnote Financial Corp.
Newnote Financial Corp. is pioneering innovative crypto-currency and Bitcoin related software products and services geared at the growing business segment of this bourgeoning market. Newnote has positioned itself to be a leading contender in delivering opportunities to startup businesses world-wide and continues to create new opportunities for its clients and its shareholders. Newnote has a clear vision on the direction in which this new and unique business is headed and is continually adjusting and adopting new business practices in both technology and the policies & procedures required by banks and securities regulators.
Newnote Financial: http://www.newnote.com/
About Coinpayments Inc.
Coinpayments Inc. is the first and largest multi-crypto-currency payment processor servicing over 7500 merchants in more than 120 countries. It has grown by word-of-mouth by establishing a reputation of integrity and excellence. Coinpayments manages the largest Crypto-currency Store Directory and its merchant customers enjoy the only web wallet with support for 50 cryptocurrencies including Bitcoin, Litecoin, Dogecoin, Peercoin, Omnicoin, Darkcoin, Maxcoin and dozens of others. Coinpayments has been an active supporter of several important charities accepting cryptocurrencies.
Coinpayments Inc. http://www.coinpayments.net/
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Newnote Financial Corp. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forecasts of growth in Coinpayment’s revenue, transaction volume and number of registered clients is subject to external influences such as Bitcoin and Cryptocurrency adoption, competition from other established players, economic conditions. Its forecast growth rate is also subject to, among other things, management being able to maintain the growth rate and to obtain financing to handle the increased demand.
The CSE has not reviewed, approved or disapproved the content of this press release.