Bitcoin to be Accepted on the CurrencyWorks Security Token Reporting System as a Form of Payment

Rhea-AI Summary

CurrencyWorks Inc. (CWRK) has announced the integration of Bitcoin into its security token reporting system for exchanges. This development aims to enhance liquidity and value in the Security Token Market. The token reporting system, introduced in December 2020, includes integration services, a Testnet, and smart contract platforms for security token issuance. Company officials emphasize the importance of this integration in capital raising without equity dilution. Forward-looking statements highlight potential risks including regulatory changes and technological advancements.

Positive

• Integration of Bitcoin into the token reporting system enhances liquidity in the Security Token Market.
• Introduced a Testnet and smart contract platforms to support security token issuance, potentially increasing operational capabilities.

Negative

• Potential risks include regulatory changes that may impede operational development.
• Uncertainties regarding market conditions and future financing may impact business operations.

Los Angeles CA, Feb. 16, 2021 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CWRK” or “CurrencyWorks”) (TSXV and OTCQB: CWRK), builds and operates FinTech Platforms for Digital Currencies, Digital Assets and Security Tokens, today announced that the security token reporting system being developed for exchanges will accept Bitcoin.

The blockchain platform being developed for exchanges will have the ability to accept Bitcoin as a form of payment. CurrencyWorks announced the creation of a token reporting system for exchanges in December of 2020 providing various integration services, as well as a Testnet and smart contract platforms to be used to test and validate the process of issuing security tokens.

Cameron Chell, Chairman of CurrencyWorks, stated: “The ability to accept Bitcoin as a form of exchange for the purchase and sale of Security Tokens is the next step in helping enable value and liquidity into the burgeoning Security Token Market. Bitcoin is moving beyond the world of a hard-to-access form of payment, to the mainstream.”

“CurrenyWorks has been at the forefront of monetizing alternative currencies in regulated environments from the beginning,” said Bruce Elliott, President of CurrencyWorks. “We are excited to add Bitcoin to our token reporting system which enables companies to raise capital without necessarily diluting equity.”

For more information on this announcement, please contact Bruce Elliott at bruce.elliott@currencyworks.io.

About CurrencyWorks

CurrencyWorks Inc. (TSXV: CWRK and OTCQB: CWRK) is a publicly traded company that builds and operates FinTech Platforms for Digital Currencies, Digital Assets and Security Tokens.

For more information on CurrencyWorks, please visit us at: www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching CWRK.

Media Contact
Arian Hopkins
arian@currencyworks.io

Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@currencyworks.io

Investor Inquiries
Phone: 424-570-9446 ext. 8
ir@currencyworks.io

Disclaimer for Forward-Looking Statements

This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things,: that the ability to accept Bitcoin as a form of exchange for the purchase and sale of Security Tokens is the next step in helping enable value and liquidity into the burgeoning Security Token Market; and that CurrencyWorks is excited to add Bitcoin to its token reporting system which enables companies to raise capital without necessarily diluting equity.

The material assumptions supporting these forward-looking statements include, among others, that there will be no material variations in current regulatory environments in which CurrencyWorks Inc. (the “Company”) operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchian solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.

Any of these risks may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FAQ

What is CurrencyWorks Inc.'s latest announcement regarding Bitcoin?

CurrencyWorks Inc. announced the integration of Bitcoin into its security token reporting system for exchanges to enhance liquidity and value.

How does CurrencyWorks' new token reporting system work?

The token reporting system allows for integration services and includes a Testnet and smart contract platforms for issuing security tokens.

What are the potential risks mentioned in the CurrencyWorks press release?

The press release mentions risks such as regulatory changes, market conditions, and challenges in securing future financing.

When was the token reporting system for exchanges announced by CurrencyWorks?

The token reporting system was initially announced in December 2020.

What is the significance of accepting Bitcoin for security tokens?

Accepting Bitcoin aims to facilitate transactions in the Security Token Market, enhancing value and liquidity.