IQST – iQSTEL Announces Application for Dual Listing on Upstream
iQSTEL, Inc. (OTCQX: IQST), a telecommunications firm, is pursuing a dual listing on Upstream, a trading app for digital securities. This move aims to attract a global investor base that can trade using USDC cryptocurrency and traditional payment methods, enhancing liquidity and price discovery for iQSTEL shares. CEO Leandro Iglesias expressed optimism that this listing would increase shareholder value and pave the way for a future NASDAQ up-listing. The approval for listing is pending, but iQSTEL meets the required standards.
- Pursuing dual listing on Upstream to access global digital-first investors.
- Enhances liquidity and price discovery through diverse payment options.
- Potentially increases shareholder value and prepares for future NASDAQ up-listing.
- None.
New York, NY, Nov. 07, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) (https://www.iqstel.com/), a rapidly growing global telecommunications firm diversifying into an expanding array of innovative products and services through its four operating divisions, Telecom, Fintech, Blockchain, and Electric Vehicles, today announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex ("Horizon") and MERJ Exchange Limited ("MERJ").
The planned dual listing on Upstream is designed to provide iQSTEL the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in OTCQX-quoted iQSTEL.
Commenting on the application to list on Upstream, Leandro Iglesias, Chief Executive Officer of iQSTEL, said, "We encourage shareholders to learn more about Upstream in order to fully appreciate the value of iQSTEL’s dual listing on Upstream. We believe the dual listing will build shareholder value and liquidity by making iQSTEL investment available to a broader range of global investors trading with a broader range of investment tools to include USDC digital currency, credit, debit, PayPal, and USD. These tools will also be available to existing iQSTEL shareholders that signup for an Upstream account. We furthermore believe the experience gained through Upstream application process will contribute to our intended future up-listing to NASDAQ.”
Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing OTCQX company, the standards to which iQSTEL currently adheres are sufficient to comply with MERJ Listing Rules, including but not limited to disclosure, filing and notification requirements.
Once approved for Upstream Dual Listing, IQST shareholders of record will be able to install the Upstream App and complete a simple KYC / AML check. If a shareholder elects to have their shares transferred from their existing broker dealer to Upstream, the process to instruct the transfer agent of this will begin. Once the transaction is approved, the shares will reflect as “sell only” on the Upstream App (if the shareholder resides in either the US or Canada). Investors outside of these 2 countries can both buy and sell on Upstream if they are 18 years of age or older and have completed their KYC / AML check. Additionally, shareholders of record that have onboarded to the Upstream App are eligible to receive digital dividends, should the company elect to do so.
The benefits of listing on Upstream include:
- No Short Selling. Upstream does not permit the short selling of our issuers’ securities.
- Global Audience, including Cryptocurrency. Uniquely, Upstream allows global investors access to U.S. equities using cryptocurrency in the form of the USDC stable coin. This enables issuers to reach new investors around the world and increase liquidity potential.
- Transfer Agent Integration. Upstream’s U.S. transfer agent deposit and legend lift technology also solves for common deposit and custody problems issuers face.
- Web3 Technology. Upstream features high-tech, high-touch onboarding, user-friendly trading tools, and transparency enforced by Web3 blockchain technology to make it both convenient and efficient for international traders to trade securities.
- FDIC Insurance: Upstream accounts, U.S. and non-U.S., are FDIC-insured up to
$250,000. - Streamlined On/Off Ramps. Cryptocurrency holders enjoy a streamlined on/off-ramp to/from popular cryptocurrency exchange platforms like Coinbase. US Dollar holders enjoy a fiat on/off-ramp to/from any U.S. or int’l bank when they sell their shares.
- Full Sovereign Exchange. Upstream is a MERJ Exchange Market. MERJ is an affiliate of the World Federation of Exchanges. As a fully regulated overseas stock exchange, we are a peer to the OTC markets (i.e. Upstream is not a mini-market like an ATS or MTF). This means qualified issuers may cross-list Upstream securities in other global markets.
About Upstream:
Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities. Powered by Horizon's proprietary matching engine technology, the exchange will enable investors to trade NFTs, shares in IPOs, crowdfunded companies, U.S. & Int'l. equities, and celebrity ventures directly from the app: https://upstream.exchange. Interested issuers can reach the team at hello@upstream.exchange.
About MERJ:
MERJ Exchange (MERJ) operates Upstream as a fully regulated and licensed integrated securities exchange, clearing system and depository for digital and non-digital securities. MERJ is an affiliate of the World Federation of Exchanges (WFE), recognized by HM Revenue and Customs UK, a full member of the Association of National Numbering Agencies (ANNA) and a Qualifying Foreign Exchange for OTC Markets in the US. MERJ is also a member of the Sustainable Stock Exchanges Initiative. Visit https://merj.exchange/ to learn more.
About Horizon:
Horizon is a fintech company that builds and powers global securities exchanges with an integrated suite of software for compliant issuance, management, and secondary trading of securities. Our in-house solutions combine Wall Street and Silicon Valley to power the next generation of securities offerings and trading in the U.S. and globally. Learn more at https://www.horizonfintex.com/.
About iQSTEL Inc.:
iQSTEL Inc. (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly listed company holding an Independent Board of Directors and Audit Committee with a presence in 19 countries and 70 employees offering leading-edge services through its four business lines. The Telecom Division (www.iqstelecom.com), which represents the majority of current operations, offers VoIP, SMS, proprietary Internet of Things (IoT) solutions, and international fiber-optic connectivity through its subsidiaries: Etelix, SwissLink, Smartbiz, Whisl, IoT Labs, and QGlobal SMS. The Fintech business line (www.globalmoneyone.com) (www.maxmo.vip) offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No SSN Needed), Mobile App/Wallet (Remittances, Mobile Top Up, Buy/Sell Crypto). Our Fintech subsidiary, Global Money One, is to provide immigrants access to reliable financial services that make it easier to manage their money and stay connected with their families back home. The BlockChain Platform Business Line (www.itsbchain.com) offers our proprietary Mobile Number Portability Application (MNPA) to serve the in-country portability needs through its subsidiary, itsBchain. The Electric Vehicle (EV) Business Line (www.evoss.net) offers electric motorcycles to work and have fun in the USA, Spain, Portugal, Panama, Colombia, and Venezuela. EVOSS is also working on the development of an EV Mid Speed Car to serve the niche of the 2nd car in the family.
Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. This press release does not constitute a public offer of any securities for sale. 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.
iQSTEL Inc.
IR US Phone: 646-740-0907
IR Email: investors@iqstel.com
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