BTCS Announces Application for Dual Listing on ‘Upstream’
BTCS Inc. (Nasdaq: BTCS) has announced its application to dual list its shares on Upstream, a platform for digital securities and NFTs. This decision underscores BTCS's commitment to innovation in blockchain technology. With over 8,400 ETH staked on Ethereum's blockchain, the company aims to unlock growth and value for shareholders. CEO Charles Allen stated that this dual listing is a significant step toward leveraging Ethereum's capabilities in modern finance. The approval process for the listing is pending acceptance by MERJ Exchange, which may expedite the process due to BTCS's existing Nasdaq status.
- Initiating dual listing on Upstream could enhance visibility and accessibility for investors.
- BTCS has a strong commitment to blockchain technology, evidenced by its substantial ETH holdings and investments.
- Approval for the Upstream listing is contingent on MERJ, which introduces uncertainty.
- Potential risks associated with increased regulatory scrutiny and market volatility in digital securities.
Silver Spring, MD, Jan. 26, 2023 (GLOBE NEWSWIRE) -- BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), a blockchain technology-focused company, today announced that it has begun the application process to dual list its shares of common stock on Upstream, the trading app for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ”).
BTCS has been a pioneer in the blockchain industry and has consistently demonstrated its commitment to innovation. The planned decision to dual list on Upstream is a natural extension of this commitment and reflects the company's belief in both Ethereum and the potential of decentralized technologies to bring innovation to traditional financial markets.
“We are excited to take this step and join the growing number of companies that are leveraging the power of Ethereum to unlock new opportunities and reach new audiences,” said Charles Allen, CEO of BTCS. “Upstream represents the next generation of financial platforms, and we believe that dual-listing on this platform will help us to continue driving growth and value for our shareholders.”
In addition to dual-listing on Upstream, BTCS is also an investor in Horizon, and has staked over 8,400 ETH on its 240 validator nodes on Ethereum’s blockchain, further demonstrating the Company's commitment to utilizing decentralized technologies it supports.
“Ethereum's blockchain technology enables fair markets by ensuring transparency and immutability of transactions,” continued Charles Allen. “Upstream is utilizing this technology to lead the charge in protecting and empowering both issuers and investors. We are pursuing BTCS’s dual-listing on the Ethereum blockchain as part of a broader effort to realize the true value of our stock.”
Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing Nasdaq issuer, BTCS may be eligible for an expedited listing process.
About BTCS:
BTCS Inc. is a Nasdaq listed company operating in the blockchain technology space since 2014 and is one of the first U.S. publicly traded companies with a primary focus on blockchain infrastructure and staking. BTCS secures and operates validator nodes on disruptive next-generation blockchain networks that power Web 3, earning native token rewards by staking our proof-of-stake digital assets. “StakeSeeker” is BTCS’ newly introduced proprietary Cryptocurrency Dashboard and Staking-as-a-Service platform, developed to empower users to better understand and grow their crypto holdings with innovative portfolio analytics and a non-custodial process to earn staking rewards on digital asset holdings. Users can easily link and monitor their cryptocurrency portfolios across exchanges, wallets, validator nodes, and other sources; and have access to a suite of data analytic tools such as performance and reward tracking. StakeSeeker’s Staking Hub allows users to earn rewards by participating in network consensus mechanisms by staking and delegating their cryptocurrencies to company-operated validator nodes for a growing number of supported blockchains. As a non-custodial validator operator, BTCS will receive a percentage of token holders staking rewards generated as a validator node fee, creating the potential opportunity for a highly scalable business with limited additional costs. For more information visit: www.btcs.com.
About Upstream:
Upstream, a MERJ Exchange Market (MERJ Exchange), is a global stock exchange for digital securities and NFTs. Powered by Horizon's proprietary blockchain-powered matching engine technology, the platform enables users to trade NFTs, and invest in securities for IPOs, crowdfunded companies, U.S. & international equities, and celebrity ventures using the Upstream app. For more information, please visit https://upstream.exchange. Upstream is currently accepting applications to dual list at https://upstream.exchange/GetListed.
Forward-Looking Statements:
Certain statements in this press release, constitute “forward-looking statements” within the meaning of the federal securities laws including statements regarding the acceptance of the listing application, the potential of decentralized technologies, our ability to drive growth and value for our shareholders, and realize the true value of our stock. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, future legislation and regulation, regulatory issues, unexpected issues with our proprietary Digital Asset Analytic and Staking-as-a-Service Platform: StakeSeeker, reluctance of users to try or accept our product, and Upstream’s ability to develop and expand, financial, compliance and internal issues relating to Upstream, as well as risks set forth in the Company’s filings with the Securities and Exchange Commission including its Form 10-K for the year ended December 31, 2021. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations:
ir@btcs.com
Public Relations:
Mercy Chikowore
m.chikowore@btcs.com
Disclaimers:
This press release shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The following information is included at the request of Upstream and BTCS does not have the ability to confirm some of the information.
If you are a U.S. or Canadian-based citizen or permanent resident that has invested in a company that's listed on Upstream, you may transfer your shares to Upstream and sell them on Upstream’s trading app for liquidation purposes only. You are not permitted to purchase shares of other companies listed on Upstream at this time. Anyone may buy and sell NFTs on Upstream.
Upstream is a MERJ Exchange market. MERJ Exchange is a licensed Securities Exchange, an affiliate of the World Federation of Exchanges, and a full member of ANNA. MERJ supports global issuers of traditional and digital securities through the entire asset life cycle from issuance to trading, clearing, settlement, and registry. Upstream does not endorse or recommend any public or private securities bought or sold on its app. Upstream does not offer investment advice or recommendations of any kind. All services offered by Upstream are intended for self-directed clients who make their own investment decisions without aid or assistance from Upstream. All customers are subject to the rules and regulations of their jurisdiction. By accessing the site or app, you agreed to be bound by its terms of use and privacy policy. Company and security listings on Upstream are only suitable for investors who are familiar with and willing to accept the high risk associated with speculative investments, often in early and development stage companies. There can be no assurance the valuation of any particular company's securities is accurate or in agreement with the market or industry comparative valuations. Investors must be able to afford market volatility and afford the loss of their investment. Companies listed on Upstream are subject to significant ongoing corporate obligations including, but not limited to disclosure, filings, and notification requirements, as well as compliance with applicable quantitative and qualitative listing standards.
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