Belfrics Mexico to deploy its blockchain-based wallet and remittance solution to capitalize on increased remittance flows
AVENTURA, Fla., Aug. 19, 2022 (GLOBE NEWSWIRE) — Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced that Belfrics Mexico, an entity operated by Belfrics Group, has commenced operations companies to serve the growing Mexican blockchain, cryptocurrency and digital asset market. Belfrics Mexico will showcase its blockchain-based wallet and remittance solution to capitalize on the trend of increasing remittance flows in Latin America. Originally formed in 2019, Belfrics Mexico’s development plans were shelved due to the covid pandemic. With business back to normal, Mexico is becoming a hotbed of blockchain and cryptocurrency innovation. The Mexican market stands out as one of the main crypto opportunities in Latin America due to its remittance activity. According to Statista, a global market and consumer data provider, the largest fintech market segment in Mexico will be digital payments, with a total transaction value of US$71 billion in 2022. is expected to post 46.3% revenue growth in 2023.
Belfrics CEO and Founder Praveen Kumar said, “The Mexican market will be the first region for Belfrics to deploy the blockchain-based wallet and remittance solution. In 2021, Mexico was the third largest recipient of remittances in the world, as the amount of According to the Mexican central bank, total remittances reached $51.6 billion in 2021, an increase of 27% compared to 2020. A study by the Center for Latin American Monetary Studies indicates that this increase is a direct consequence. result of frontline Mexican workers in states like California, Texas, and New York earning more income, while receiving US government-backed stimulus checks. More importantly, remittance-specific crypto products primarily using Stablecoins have recently been introduced to the Latin American market Stablecoins are ideal for remittances because they are pegged to fiat currency, eliminating much of the price volatility while allowing consumers to benefit from the speed and lower fees of crypto.”
“While Belfrics Mexico’s licenses for wallet and exchange services are being processed, the initial focus will be on establishing our healthcare and education dapp products in the Mexican ecosystem. “, Mr. Kumar added. “Blockchain healthcare spending is estimated to grow at a CAGR of 44.5% over the period 2019 to 2025, growing from US$9.3 million in 2019 to US$122.3 million in by 2025. We think our blockchain offering will be ideal. solution for the Mexican market.
Life Clips CEO Robert Grinberg said, “Mexico is a vital destination for our growth plan. There are not enough blockchain nodes in Mexico and Latin America, resulting in overcrowding of transactions. Mr. Grinberg continued, “Belfrics’ commitment to regulatory approval in Mexico is the latest example of its commitment to compliance and our constructive approach to engaging regulators. We look forward to expanding our range of available offerings and services and continuing to work with stakeholders across all industries to advance blockchain technology, cryptocurrency and digital assets.
Belfrics Mexico’s activities will be led by Manuel Esquivel and Carlos Arce, two seasoned professionals with extensive experience in the Mexican market. Mr. Esquivel holds a law degree from NAU Mexico and has over a decade of experience in the foreign exchange and derivatives markets in Latin America. Mr. Arce also holds a law degree from NAU Mexico and has held directorships in leading conglomerates in Mexico, and has been integral to financial system development for Banco Agropecuario, Banrural and Banobras Bank. With capable leadership and KYC-compliant Belrium blockchain solutions, Belfrics aims to be one of the leading providers of blockchain solutions and digital asset services in Mexico by 2024.
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian blockchain and cryptocurrency exchange and platform provider that is authorized and regulated by the Labuan Financial Services Authority ( LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-function trading platform offers digital assets, cryptocurrencies and crypto derivative contracts to its clients. The Belfrics blockchain has been recognized by Gartner as one of the top 10 blockchains in terms of actual projects and has been awarded a patent for its Belrium KYC Verification System (BKVS) by the Nigerian Patent Authority. Cognitive Apps is disrupting the mental health space with its speech-based, AI-powered mental health analytics platform that enables companies to measure, understand and improve mental wellbeing of their employees, patients and customers. Aiki offers CBT and IPT therapies using a chatbot that includes the voice analysis solution that takes into account other health data from Apple and Google HealthKit to perform a more accurate analysis of his mental health . Aiki was developed to capitalize on the trend towards artificial intelligence platforms being used by individuals and businesses to raise awareness about employee mental health. Cognitive Apps is developed by a team of licensed psychotherapists who use voice biomarkers to screen for early signs of mental health issues, such as stress and depression. Aiki is available on the Apple 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
Disclaimer of Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be prefaced by the words “intends”, “may”, “will”, “expects”, “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, therefore, 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 development efforts; (ii) the Company’s ability to advance its products to complete their development and commercialization; (iii) the manufacture, development, marketing and market acceptance of the Company’s products; (iv) lack of sufficient financing to fund product development and commercial operations; (v) competitive businesses and technologies within the Company’s industry and the introduction of competing products; (vi) the Company’s ability to establish and maintain business collaborations; (vii) loss of key management personnel; (viii) the extent of protection the Company is able to establish and maintain for the intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential non-compliance with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) difficulty in predicting government actions and regulations. Any forward-looking statements included in this press release speak only as of the date of this press release. The Company undertakes no obligation to update any written or oral forward-looking statement, except as required by law.
For media and investor relations, please contact:
David L. Kugelman
(866) 692-6847 Toll Free – USA and Canada
(404) 281-8556 Mobile and WhatsApp