Majic Wheels Corp. Acquires Majority Interest in PCEX
Majic Wheels Corp (MJWL) has secured a majority interest in Panaesha Capital Exchange (PCEX), following a letter of intent in October. This acquisition positions Majic Wheels as a significant player in the Fintech space. PCEX, based in India, operates over 250 franchises, emphasizing a unique B2B model. CEO David Chong indicates this move aims to establish the company as a tech leader in India. With India's crypto adoption surging, the partnership aims to capitalize on this growing market, anticipating retail crypto investments to reach $15.6 billion by 2030.
- Secured majority interest in PCEX, enhancing market position.
- Access to a network of over 250 franchises and 40 satellite offices in India.
- Potential for significant growth due to increasing interest in crypto investments in India.
- None.
The Fintech and Blockchain-Focused Corporation Confirms Majority Ownership in the Crypto Exchange
HOUSTON, TEXAS, April 21, 2022 (GLOBE NEWSWIRE) -- Wyoming-based holding company Majic Wheels Corp. (OTC Pink: MJWL) has announced that it has secured a majority interest in Panaesha Capital Exchange (PCEX). This follows its letter of intent (LOI) to acquire the leading digital assets exchange last October.
The global team behind Majic Wheels Corp, a holding corporation positioning itself as a major power player in forward-looking, disruptive industries— specifically Fintech, Insurtech, and software development— through mergers and acquisitions, is excited to utilize PCEX’s novel approach and scalable model within the Fintech space.
Launched by Panaesha Capital, PCEX is the first Indian crypto broker to introduce the B2B Franchise Model to the cryptocurrency industry, successfully forging a network of over 250 franchises and 40 satellite offices throughout India.
Majic Wheels Corp.’s Chief Executive Officer, David Chong, believes the acquisition will support the company’s ambition to “firmly establish itself as a Fintech and technology leader in India.”
Secured via an SPV, under Majic Wheels Corp.’s fully owned subsidiary, CGCX-- an insured, four-in-one blockchain platform that offers a seamless, secure crypto trading experience-- PCEX is founded on a unique, innovative membership concept for crypto investors, enthusiasts, or crypto-related startups. In fact, CGCX coins have been trading on the PCEX platform since 1 March 2022, with extremely encouraging results.
Both PCEX and CGCX are set to continue with impressive growth, based on India’s increasing interest in - and adoption of - crypto.
In terms of the number of people who have owned a cryptocurrency at least once, India currently ranks 7th in the world (over 100 million people). According to Blockchain and Crypto Assets Council (BACC), and has an estimated 15-20 million retail investors.
Experts also see crypto emerging as a popular asset class and mainstream investment avenue in India, especially among young earners. It is expected that crypto will be driven by millennials (the country’s median age is around 28 years), pushing retail investment in cryptos to
PCEX’s CEO and founder, Sandeep Phogat, envisions the exchange as a tool to empower “entrepreneurs and businesses looking to establish a footprint in the crypto space,” citing its business model as a “culmination of that vision.”
PCEX offers its trading members unprecedented advantages, including IT and technical support, marketing assistance, higher liquidity, development and design aid for web and mobile platforms, and a peerless revenue share percentage.
Through the combined power and potential of CGCX and PCEX, the Majic Wheels Corp. team anticipates an exciting year ahead further solidifying itself within the blockchain market.
For more Majic Wheels Corp. developments, interested parties are directed to the company’s website: https://majiccorp.co/.
Its Twitter https://twitter.com/MajicCorp, LinkedIn https://www.linkedin.com/company/majiccorp/ and Facebook https://m.facebook.com/MajicCorp/ pages are helpful resources for relevant news and updates.
For further information, please contact ir@majiccorp.co
About Majic Wheels Corp.
Majic Wheels Corp., listed and traded on the Over-the-Counter Market (OTC) under the trading symbol “MJWL”, is a Wyoming holding corporation planning to position itself as a power player in cutting-edge, disruptive industries like Fintech, Insuretech, software development, and crypto via thoughtful and varied acquisitions.
Composed of a team with multiple decades' worth of experience and diverse backgrounds that grant them matchless insight and analysis capabilities, Majic intends to be two steps ahead of the fast-paced, ever-changing, competitive crypto market.
For a deeper look into Majic Wheels Corp., refer to the company’s website: https://majiccorp.co/
About PCEX
PCEX is a sophisticated digital assets exchange on which users can buy, sell, and trade cryptocurrencies on a global scale. Presenting attractive and highly profitable investment opportunities to its clients, PCEX runs on a one-of-a-kind membership model that aids crypto novices and those looking to enter the market get their bearings.
An exchange with top-shelf security, it prides itself on being one of the safest Bitcoin and altcoin exchanges in the world.
To learn more about PCEX, please peruse the exchange’s website: https://www.pcex.io/
About CGCX
Founded in 2017, Calfin Global Crypto Exchange (CGCX) is on a mission to deliver a high calibre, secure, and user-friendly crypto trading experience. While most exchanges only offer cryptocurrency trading, CGCX combines four blockchain services onto a single platform. These services include a crypto exchange, merchant solutions, smart contracts, and an ICO platform.
With a daily average volume of over
Please visit https://www.cgcx.io/ for further details.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Majic Wheels Corp.
For more information, please contact:
Email: ir@majiccorp.co
FAQ
What is the significance of Majic Wheels Corp acquiring PCEX?
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