Hello Pal Enters into Letter of Intent with UniCrypt Group
Hello Pal International Inc. has entered a non-binding letter of intent with UniCrypt Group AG to integrate cryptocurrency services into its mobile applications. This collaboration aims to provide users with non-custodial digital wallets and a decentralized trading platform. With over 14 million clients globally, UniCrypt's efficient onboarding process supports Hello Pal's expansion in livestreaming and cross-border payments. Chairman KL Wong highlights the potential to enhance cryptocurrency usage among users and foster a borderless payment system.
- Collaboration with UniCrypt to provide non-custodial digital wallets and crypto trading services.
- UniCrypt has a large clientele of over 14 million users, increasing credibility.
- Efficient onboarding process expected to drive user adoption on Hello Pal's platform.
- Integration of cryptocurrency services aligns with Hello Pal's expansion into international markets.
- Hello Pal's current revenues are not yet profitable, indicating financial instability.
- Future performance may be affected by uncertainties beyond the company's control.
UniCrypt's Cryptocurrency Services to be Made Available to Hello Pal Users
VANCOUVER, BC, Feb. 15, 2022 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) (Frankfurt: 27H) (OTC: HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has entered into a non-binding letter of intent with UniCrypt Group AG ("UniCrypt") to collaborate on the provision of cryptocurrency services to users of Hello Pal's suite of mobile applications. UniCrypt, based in Schindellegi, Switzerland, is one of Europe's largest non-custodial wallet providers by user numbers, providing wallet and crypto-based remittance services to more than 14 million clients world-wide.
The letter of intent provides that UniCrypt and Hello Pal will enter into a collaboration agreement (the "Collaboration Agreement") whereby the Company will incorporate UniCrypt's cryptocurrency-related services into the Company's Hello Pal suite of apps. The services to be provided include AML-5 compliant non-custodial digital wallets and the ability for users to trade cryptocurrencies and transfer their digital assets over UniCrypt's decentralized trading platform.
A key advantage to utilizing UniCrypt services is the seamless onboarding of new users due to its efficient and easy to use registration process. This advantage will be crucial in the Company's plans to integrate cryptocurrencies into its Hello Pal Platform, and especially in its livestreaming services. Furthermore, as the Company's livestreaming operations continue to expand to new markets, cross-border payments become more and more relevant, and UniCrypt's services are expected to be a distinct advantage.
KL Wong, Chairman of Hello Pal states, "We are tremendously excited at the prospects which this collaboration will bring to our efforts in increasing cryptocurrency usage among not only Hello Pal users, but to the world at large. With UniCrypt's ability to easily onboard new users and generate segregated wallets, we aim to provide many users across the world with their first cryptocurrency experience and introduce them to an international social community with a borderless payments system."
To download Hello Pal please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company, Gunther Roehlig, interim CFO and director of Hello Pal, at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contact: Hello Pal International
200 – 500 Denman Street
Vancouver, BC, V6G 3H1, Canada
p 604-683-0911
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SOURCE Hello Pal International Inc.
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