- Follows on the Company's December
2021 announcement that it had concluded its initial period
of rigorous testing of the MoneyClip app ("MoneyClip") in
partnership with early users and launched a critical growth
phase.
- The introduction of this feature is the first step in the
evolution of MoneyClip toward traditional finance offerings powered
by blockchain and DeFi infrastructure.
VANCOUVER, BC,
Feb. 7, 2022 /CNW/ -
Wellfield Technologies Inc. (TSXV: WFLD) (FRANKFURT: K8D) (the
"Company" or "Wellfield"), is pleased to announce
that it has introduced a cash balance incentive feature to
MoneyClip. This functionality is the first milestone along a
roadmap designed to transform MoneyClip into a full-service
financial application that provides the best-in-class user
experience - built for Canadians, adherent with local regulation,
and powered by blockchain and DeFi infrastructure to give users
control and flexibility over their money.
Management Commentary
Chanan Steinhart, Founder of
MoneyClip and Chief Strategy and Business Development Officer of
Wellfield commented, "Our vision for MoneyClip is to build it
into the ultimate everyday financial application powered by
blockchain, with a consistent focus on delivering value for users.
Part of the promise of DeFi is that it can offer consumers the same
products and services they are used to in the world of traditional
finance, but with a better user experience. Savings and transaction
accounts are the hubs that link most consumer's financial lives
together. The addition of a balance incentive feature to MoneyClip
is the first milestone in our journey to build MoneyClip into an
application that works for the way people live – offering easy
access to, and control over their money, and paying them while they
wait. This is also expected to support our efforts to grow
MoneyClip's user base as we launch awareness programs through 2022
and introduce new features."
About Wellfield Technologies
Wellfield is focused on unlocking the power of decentralized
finance (DeFi) by building open and accessible decentralized
protocols and also blockchain based consumer products. Seamless -
the Company's protocol layer brand - focuses on solutions that
enhance and optimize liquidity in the Ethereum ecosystem, make
Bitcoin compatible with DeFi, and enable decentralized cross
blockchain exchange. MoneyClip - Wellfield's application layer
brand - is powered by DeFi to enhance everyday financial products
and make money work for the way people live.
Cautionary Notice on Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking information" ("forward-looking information")
within the meaning of the applicable Canadian securities
legislation. All statements, other than statements of historical
fact, are forward-looking information and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that discusses predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
"expects", or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information. Forward-looking statements in this
news release include statements regarding the Company's success in
launching the protocols and other technologies and utilities
discussed herein. In disclosing the forward-looking information
contained in this press release, the Company has made certain
assumptions. Although the Company believes that the expectations
reflected in such forward-looking information are reasonable, it
can give no assurance that the expectations of any forward-looking
information will prove to be correct. Known and unknown risks,
uncertainties, and other factors which may cause the actual results
and future events to differ materially from those expressed or
implied by such forward-looking information. Such factors include,
but are not limited to: compliance with extensive government
regulations; domestic and foreign laws and regulations adversely
affecting the Company's business and results of operations; the
impact of COVID-19; the decentralized finance industry generally,
in Canada and abroad; and general
business, economic, competitive, political and social
uncertainties. Readers are cautioned that the foregoing list is not
exhaustive and readers are encouraged to review the listing
application prepared in accordance with the policies of the TSXV
and other disclosure documents accessible on the Company's
SEDAR profile at www.sedar.com. Readers are
further cautioned not to place undue reliance on forward-looking
statements as there can be no assurance that the plans, intentions
or expectations upon which they are placed will occur. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking information to reflect
actual results, whether as a result of new information, future
events, changes in assumptions, changes in factors affecting such
forward-looking information or otherwise.
The TSXV has neither approved nor disapproved the contents of
this news release. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Wellfield Technologies