Life Clips Subsidiary Belfrics Announces Over $2 Million in Revenue on Volumes of $1.5 Billion
Life Clips, Inc. (LCLP) reports its Belfrics subsidiary generated over $2 million in revenue and a total trading volume of $1.5 billion in Q4 2021. The subsidiary, in collaboration with Hybrid Solutions, launched Forex and crypto derivatives trading across multiple platforms, enhancing its operational capabilities. CEO Robert Grinberg highlights Belfrics’ exceptional start and anticipates ongoing growth in 2022. Belfrics CEO Praveen Kumar expresses satisfaction with the revenues and emphasizes continuous improvement in user experience, including upcoming UI enhancements by the first week of February 2022.
- Belfrics generated over $2 million in revenue in Q4 2021.
- Total trading volume reached $1.5 billion for spot exchange and derivatives.
- Launch of Forex and crypto derivatives trading across multiple platforms.
- Improvements in user interface planned for early February 2022.
- None.
AVENTURA, Fla., Jan. 18, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its Belfrics subsidiary will report for the last quarter of 2021 over
In collaboration with Hybrid Solutions, a leading platform service provider in the FOREX industry, Belfrics launched its Forex and crypto derivatives trading on IOS, Android and web-trader, during the past quarter. Belfrics chose Skale to be its CRM partner providing FX and derivatives traders a simple and convenient user interface for back-office management. Belfrics’ Forex and crypto derivatives platform is fully operational and available for new registrations.
Robert Grinberg, Chief Executive Officer of Life Clips, said, “Praveen and his Belfrics team have exceeded the expectations we had for spot exchange, FX and crypto derivatives segments. Belfrics is off to an impressive start as part of Life Clips, and we look forward to continuing to support their rapid growth in 2022 and beyond."
Praveen Kumar, Chief Executive Officer and Founder of Belfrics, commented, "We are very pleased with the revenues we achieved and the total volume for the spot exchange and derivative segments we introduced in the last quarter of 2021. We ramped up quickly and owe a tremendous amount of gratitude to the extra hours of hard work our Belfrics team put in to make it possible. Our employees and our customers are truly our greatest asset." Mr. Kumar continued, "Our primary focus was to do things right the first time as we built out our infrastructure for the future. We will continue to enhance our systems in the current quarter, so our Belfrics users have the best possible service. We have redesigned our exchange website to include a much easier to use interface, and we are making UI (user interface) changes to the mobile applications and the web traders. We expect to have a new, enhanced UI version up and running by the 1st week of February 2022."
About Us
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the Yuru voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by employers to raise awareness of employees’ mental health. Cognitive Apps’ Yuru is a 3-in-1 tool developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Yuru is available on Apple‘s App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
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FAQ
What revenue did Life Clips report for Q4 2021?
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