AdvanceTC Limited Licenses Technology to Premier DeFi Platform

Rhea-AI Summary

AdvanceTC Ltd (OTCQB:ATCLF) announced a licensing agreement with Level 01 Technologies for its Starzchat real-time communication software based on the decentralized Matrix Protocol. This deal enables Level 01 to utilize AdvanceTC's unique features, such as end-to-end encryption and real-time voice communication. The partnership aims to expedite Level 01's product expansion in the DeFi sector. Additionally, AdvanceTC recently began FCC and CE certification for its X7U model, aligning with its strategy to deliver advanced communication solutions.

Positive

• Licensing agreement with Level 01 Technologies for Starzchat software enhances product offerings.
• Partnership aligns with efforts to monetize proprietary technology in the B2B sector.
• Certification process for X7U demonstrates commitment to product innovation and market readiness.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / November 3, 2021 / AdvanceTC Ltd (NSX:A88)(OTCQB:ATCLF) ('AdvanceTC' or the 'Company') the premier technology company specializing in the design and development of mobile telecommunication and computing devices announced today a limited exclusivity agreement for the licensing of its Starzchat real-time communication software technology based on the decentralized Matrix Protocol, to Level 01 Technologies; a decentralized finance (DeFi) platform specializing in AI guided, peer-to-peer financial contract trading.

This licensing agreement grants Level01 access to AdvanceTC's proprietary developed Starzchat features including data sovereignty via Matrix protocol open standard federation, End-to-end encrypted messaging and location awareness via space or terrestrial networks and real time Push-To-Talk voice over any network. It enables Level01 to fast-track and expand its product offering according to its expansion plans.

Says Robert GK Lee, Chief Operating Officer of AdvanceTC Limited:

"We are pleased to work with Level01 and unlock the value of our IP in new ways as well as monetizing our technology in the B2B segment. Their vision and commitment to applicable innovation for their users mirrors our own, and we are excited to be able to create value not just for our industry, but in others as well."

Says Adam Ooi, Chief Operating Officer of Level01:

"We believe AdvanceTC's exclusive technology will bolster our product offering and help us grow towards becoming a ‘best in class' DeFi platform, which is in-line with our expansion plans to provide a wider range of decentralized services for our users and ecosystem."

This announcement comes fresh on the heels of AdvanceTC's latest news on its Start of FCC and CE certification of its X7U and is in line with the company's strategy to provide the most advanced, integrated communication solutions in both hardware and software products.

About Level 01 Technologies

Level 01 Technologies is a fintech company specializing in blockchain and AI technologies. Level01's decentralized financial trading platform provides instant blockchain settlements and real-time fair pricing valuation for any market asset contract being traded on the platform. This is made possible through its proprietary ‘FairSense AI', developed using interbank rates and data points sourced from partnerships with Bloomberg.

More information on Level 01 Technologies can be found at https://level01.io

About AdvanceTC Limited

AdvanceTC is a premier company specializing in the design, development and commercialization of high tech mobile wireless computing and telecommunication devices since 2005. AdvanceTC W3, a full Windows® OS microcomputer integrated with cellular telephony capabilities and the Xplore X7 the world first android smartphone with satellite messaging and emergency service, fully designed and developed using its own patented proprietary technology and engineering innovation.

Follow us on our social media accounts:

https://twitter.com/advancetc_ltd
https://www.instagram.com/advancetc_ltd/
https://www.linkedin.com/company/advancetc/
https://www.facebook.com/advancetcltd/

For further information please contact:

Name: CP Loi/ Chief Executive Officer
Email: loicp@advancetc.com
Website: www.advancetc.us

Forward Looking Information

This news release contains forward looking statements relating to the Proposed Transaction, and the future potential of AdvanceTC. Forward looking statements are often identified by terms such as "will", "may", "should", "intends", "anticipates", "expects", "plans" and similar expressions. All statements other than statements of historical fact, included in this release are forward looking statements that involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that the Proposed Transaction will not be completed due to, among other things, failure to execute definitive documentation, failure to complete satisfactory due diligence, failure to receive the approval of the NSX and the risk that AdvanceTC will not be successful due to, among other things, general risks relating to the mobile application industry, failure of AdvanceTC to gain market acceptance and potential challenges to the intellectual property utilized in AdvanceTC. There can be no assurance that any forward looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The Company cannot guarantee that any forward looking statement will materialize and the reader is cautioned not to place undue reliance on any forward looking information. 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. Forward looking statements contained in this news release are expressly qualified by this cautionary statement. The forward looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward looking statements as expressly required by Australian securities laws.

SOURCE: AdvanceTC Ltd

View source version on accesswire.com:
https://www.accesswire.com/670959/AdvanceTC-Limited-Licenses-Technology-to-Premier-DeFi-Platform

FAQ

What is AdvanceTC's recent licensing agreement?

AdvanceTC has licensed its Starzchat software technology to Level 01 Technologies, enabling enhanced communication features.

How will the licensing agreement benefit Level 01 Technologies?

The agreement allows Level 01 to expand its product offerings and enhance its decentralized finance platform.

What technology does AdvanceTC's Starzchat software utilize?

The Starzchat software is based on the decentralized Matrix Protocol, providing secure communication features.

What recent developments has AdvanceTC announced alongside the licensing deal?

AdvanceTC has started the FCC and CE certification process for its X7U model, emphasizing its focus on innovation.