FDCTech acquires a majority controlling position in New Star Capital Trading Ltd. and its subsidiary, strengthening its strategic focus on the online retail brokerage business.

Rhea-AI Summary

FDCTech, Inc. (FDCT) has successfully acquired a 50.10% equity interest in New Star Capital Trading Ltd. and its subsidiary, NSFX Ltd., a Malta-regulated online trading brokerage. The acquisition expands FDCT's portfolio in digital financial services, leveraging NSFX's capabilities in margin trading across various financial assets. NSFX, authorized to operate as a market maker, is set to enhance FDCT's operational infrastructure. The acquisition draws on NSFX's audited financials, indicating minimal liabilities, which could strengthen FDCT's financial standing in the competitive fintech landscape.

Positive

• Acquisition of 50.10% equity interest in New Star Capital Trading Ltd. enhances FDCT's market presence.
• NSFX's established trading platform and regulatory approval bolster FDCT's operational capabilities.
• The audited financials of NSFX indicate minimal liabilities, potentially improving FDCT's balance sheet.

Negative

• None.

New Star Capital Trading Ltd. ("New Star") is a holding company, and its operating subsidiary NSFX Ltd ("NSFX") is an online trading brokerage firm regulated by the Malta Financial Services Authority. NSFX provides brokerage services in margin trading forex, cryptocurrencies, equity, commodities, and other financial assets.

Irvine, CA, Jan. 06, 2023 (GLOBE NEWSWIRE) -- FDCTech, Inc. ("FDC" or the "Company," OTCQB: FDCT), a fintech-driven acquisition company with a full suite of digital financial services solutions, today announced it has completed the sales purchase agreement ("Agreement") under which the Company acquired a 50.10% equity interest in New Star Capital Trading Ltd., a British Virgin Island company ("New Star") and its operating subsidiary NSFX Ltd ("NSFX"), an online trading brokerage firm regulated by the Malta Financial Services Authority.

NSFX has furnished the Company with its audited balance sheet for the fiscal year that ended on November 30, 2021, and 2020 (the "Balance Sheet Date"). NSFX provided the related audited statements of operations, stockholders' equity, and cash flows for the fiscal years ending November 30, 2021, and 2020. NSFX has no liabilities other than (i) liabilities reflected in the financial statements and (ii) liabilities incurred in the ordinary course of business since the balance sheet date. PricewaterhouseCoopers (PwC) is the auditor of NSFX.

NSFX is authorized to deal on its account (market maker) as a Category 3 licensed entity by the MFSA, receive and transmit orders on behalf of retail and professional clients, and hold and control clients' money and assets. NSFX trading platform services in the English, French, German, Italian, and Arabic-speaking markets, whereby customers can trade in currency, commodity, equity, and cryptocurrency-linked derivatives in real time.

For consideration and other details, please review SEC filings or the Company's website for more information on the full results and management's plan.

NSFX Ltd.

NSFX Limited (the "Company") is a limited liability company registered under the Companies Act, Cap. 386 of the Laws of Malta with registration number C 56519. The Malta Financial Services Authority regulates NSFX with a License Number IS/56519. NSFX is authorized to deal on its account as a Category 3 licensed entity by the MFSA, receive and transmit orders on behalf of retail and professional clients, and hold and control clients' money and assets. NSFX trading platform services in the English, French, German, Italian, and Arabic markets, whereby customers can trade in currency, commodity, equity, and cryptocurrency-linked derivatives in real time.

FDCTech, Inc.

FDCTech, Inc. ("FDC") is a US-based, fully integrated financial technology company. FDC specializes in buying and integrating small to mid-size legacy financial services companies. FDC develops and delivers technology infrastructure solutions to forex, crypto, wealth management, and other future-proof financial sectors.

Press Release Disclaimer

This press release's statements may be forward-looking statements or future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third party. Therefore, in no case will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information or statements in this press release or any related damages.

Contact Media Relations
FDCTech, Inc.
info@fdctech.com
www.fdctech.com
+1 877-445-6047
200 Spectrum Center Drive, Suite 300,
Irvine, CA, 92618

FAQ

What is the significance of FDCT's acquisition of New Star Capital Trading Ltd.?

The acquisition of New Star Capital Trading Ltd. allows FDCT to increase its presence in the fintech sector and expand its digital financial services offerings.

How does NSFX's regulatory status impact FDCT?

NSFX is regulated by the Malta Financial Services Authority, which legitimizes its operations and enhances FDCT's credibility in the online trading space.

What financial benefits does FDCT expect from acquiring NSFX?

With NSFX's operational capabilities and minimal liabilities, FDCT anticipates improved financial health and revenue potential in the trading market.

When was the acquisition of New Star Capital Trading Ltd. completed?

The acquisition was announced on January 6, 2023, and marks a significant step for FDCT in expanding its fintech operations.