CUEN – Cuentas, Inc. And World Mobile Group, Ltd. Unveil Global Roaming And Financial Services In The United States
Cuentas, a company focused on fintech for the unbanked Hispanic demographic, has signed a Letter of Intent with World Mobile Group to introduce cost-effective global roaming and financial services across 30,000 US retail locations. This partnership aims to provide mobile users connectivity at 12 times less cost than traditional networks, using both eSIM and SIM technologies. The collaboration will leverage World Mobile's decentralized platform to create localized networks, enhancing Cuentas' offerings in telecommunications and financial solutions. The initiative targets bodegas, expanding Cuentas' market presence and offering financial freedom and efficient mobile data networks to diverse communities in the US.
- Signed a strategic LOI with World Mobile Group to offer global roaming and financial services.
- Partnership aims to deliver mobile connectivity at 12 times less cost than traditional networks.
- Targets an extensive market of 30,000 retail outlets nationwide.
- Integration of advanced eSIM and traditional SIM technologies ensures reliability.
- Expansion of Cuentas' market presence through a robust distribution ecosystem.
- Potential to bring financial services and affordable mobile data networks to diverse communities.
- No concrete financial data provided to support the feasibility of cost reductions.
- Potential risks in integrating new technology with existing systems not addressed.
- No detailed timeline for the deployment of the new services.
Cuentas to Integrate with World Mobile’s Decentralized Network, Offering US Mobile Users Cost-efficient Global Roaming and Connectivity at 12 Times Less Than Legacy Networks
MIAMI BEACH, FL, June 04, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), a pioneer driving the seamless integration of fintech, mobile telecommunications, and real estate for the unbanked and underbanked Hispanic demographic, proudly announced today the signing of a Letter of Intent (LOI) with World Mobile Group Ltd (World Mobile Token WMT-USD) (“World Mobile”) to launch groundbreaking global roaming services and financial solutions in over 30,000 retail locations nationwide.
Leveraging World Mobile’s innovative sharing economy platform (airnode.worldmobile.io), the partnership will develop localized networks tailored to specific customer needs, seamlessly integrating roaming services with mobile solutions utilizing both eSIM and traditional SIM technologies.
The initiative targets an initial market of 30,000 retail outlets (“Bodegas”) across the United States, currently served by CUEN's mobile and fintech offerings.
"Cuentas is thrilled to integrate our financial ecosystem with World Mobile’s cutting-edge global roaming technology, delivering a disruptive and highly affordable solution," said Mr. Arik Maimon, CEO and co-founder of CUEN. "This agreement maximizes our extensive distribution network and our three decades of telecommunications expertise. By enabling retail and business entities to offer Cuentas Fintech services and become World Mobile AirNode Operators, we aim to bring financial freedom and cost-effective, high-efficiency mobile data networks to diverse communities across the US."
Cuentas continues to expand its market presence with its robust mobile service, Cuentas Mobile, supported by a powerful distribution ecosystem and a meticulously developed software platform. Utilizing advanced eSIM and traditional SIM technology, this system ensures reliability and will soon include a secure communications suite from Sekur Private Data Ltd. in a comprehensive service bundle.
Cuentas, Inc. (OTC: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Mobile Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. LINK: https://cuentas.com AND https://cuentasmobile.com.
About World Mobile
World Mobile was founded with a far-reaching goal: to connect everyone, everywhere while advocating for economic freedom and dignity. Unlike traditional mobile networks, World Mobile is based on blockchain and incentivises people to be part of a sharing economy that taps into the trillion dollar global telecom market. Individuals and business owners around the world can operate nodes on its network and bring their community online while earning revenue.
| Contact Information: Arik Maimon CEO at Cuentas Inc Email: arik@cuentas.com | For media inquiries: Investor Relations Email: info@cuentas.com Cuentas Inc. (OTC:CUEN) |
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This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, OTC and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
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