Life Clips Subsidiary Belfrics Group Relaunches Cryptocurrency Exchange In India With 25 Coins

Rhea-AI Summary

Life Clips, Inc. (OTC Pink: LCLP) announced its subsidiary Belfrics Group will relaunch its cryptocurrency exchange in India, targeting over 1 million traders with plans to open 200 independent crypto centers in 6 months. The exchange will offer 25 coins, with an anticipated 30% of monthly volume from India. Belfrics aims for an initial client base of 100,000, expanding to 1 million in 6-12 months. India's crypto market has grown 600% in the past year, with only 7.3% of the population currently engaged in trading.

Positive

• Belfrics plans to capture over 1 million traders within the next 6-12 months.
• The cryptocurrency exchange will offer 25 different coins.
• India's crypto market grew 600% last year, indicating significant growth potential.
• Belfrics plans to open 200 independently owned crypto centers, expanding accessibility.

Negative

• Only 7.3% of India's population is currently trading in cryptocurrency, indicating a limited initial market.

Belfrics Group plans to target more than one million traders and open 200 independently owned physical crypto centers in the next 6 months

AVENTURA, Fla., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its wholly owned subsidiary Belfrics Group, one of India’s early adopters of blockchain and cryptocurrency, is re-launching its crypto currency exchange in India. Belfrics Group plans to offer a total of 25 coins for its traders and expects more than 30% of its monthly volume to come from the Indian market.

Praveen Kumar, Founder & CEO Belfrics group said, “India is still at a fairly nascent stage when it comes to crypto investments. While the India growth story has tremendous potential, currently only 7.3% of the total population of India are trading in the crypto market, most of them being based out of larger cities.ⁱ We are aiming to reach out to maximum traders, even in smaller towns. Our plan calls for opening 20 independently owned physical crypto outlets, with a goal of having up to 200 targeting potential clients in these areas.” Mr. Kumar continued, " Belfrics has an initial target of 100,000 clients with plans to grow to 1 million clients over 6 to 12 months following the launch. On the cryptocurrency exchange along with basic services we will also add five other popular services such as staking reward, derivative products, lending and borrowing, custody solutions and crypto payments card and loyalty programs.”

According to a recent article on Bloomberg.com, in hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age is 25. Fifty-five percent of those users are from outside large cities like New Delhi or Mumbai.

Robert Grinberg, CEO and President of Life Clips, Inc. said, "India is one of the fastest growing cryptocurrency markets in central and southern Asia. India’s crypto market grew 600% over the past year. Belfrics is aggressively expanding its offerings to its new and existing clients in the areas it already serves through value added services and access to additional products. We believe the timing is perfect for Belfrics Group to re-launch its crypto currency exchange in India's fast-growing market. I believe we are in the right place at the right time to see significant growth.”ⁱⁱ

Belfrics is a leading global blockchain technology firm and cryptocurrency exchange focused on making cryptocurrency technology effortless to use and accessible to all with an easy-to-use interface. The company was created in 2014 by a group of entrepreneurs who envisioned the opportunities and benefits of cryptocurrencies as the future of the digital currency market.

Globally headquartered in Kuala Lumpur and having its development center in Bangalore, India, Belfrics has rapidly expanded to key markets like exchanges in Malaysia, Singapore, Bahrain, Kenya, Nigeria, Tanzania and India. Belfrics has already structured a team of blockchain specialists and skilled trading industry professionals who aim at maximizing the benefits of an individual investor through the company’s reliable, simplified and secured trading platform. Belfrics is not merely an online presence but a team of trusted providers of cryptocurrency services who understand the status and constant fluctuations of the global scenario and are fully equipped to successfully guide individuals and help them yield maximum benefit.

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 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.

For Media and Investor Relations, please contact:

David L. Kugelman
(866) 692-6847 Toll Free - U.S. & Canada
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dk@atlcp.com
Skype: kugsusa
https://www.linkedin.com/in/davidkugelman/

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ⁱ https://www.livemint.com/market/cryptocurrency/india-has-highest-number-of-crypto-owners-in-the-world-at-10-07-crore-report-11634110396397.html
ⁱⁱ https://blog.chainalysis.com/reports/central-southern-asia-oceania-cryptocurrency-geography-report-2021-preview 

FAQ

What is LCLP's recent initiative in the cryptocurrency market?

Life Clips, Inc. (LCLP) announced Belfrics Group's relaunch of its cryptocurrency exchange in India.

How many traders does LCLP aim to reach with its new crypto exchange?

Life Clips targets over 1 million traders within the next 6-12 months.

What percentage of trading volume is expected from India for LCLP's crypto exchange?

Belfrics expects more than 30% of its monthly trading volume to come from India.

What are the plans for physical crypto centers by LCLP?

Belfrics plans to open 200 independently owned physical crypto centers in India within 6 months.

How many coins will be offered on LCLP's cryptocurrency exchange?

The exchange will offer a total of 25 different coins for traders.