RocketFuel Blockchain Confirms no Exposure to Silicon Valley Bank or Silvergate Bank
RocketFuel Blockchain has confirmed no relationship with Silicon Valley Bank or Silvergate Bank, assuring investors of no exposure to these institutions amid recent turmoil.
CEO Peter Jensen emphasized that the company operates with established banks and does not hold cryptocurrencies, mitigating volatility risks. RocketFuel provides a payment solutions infrastructure accepting bank transfers and over 120 cryptocurrencies, ensuring low fees and no chargebacks for merchants, while enhancing customer privacy. The company aims to improve the e-commerce checkout experience, reducing payment friction.
- RocketFuel has confirmed no exposure to Silicon Valley Bank or Silvergate Bank, ensuring financial stability during recent banking issues.
- The company operates with established banks globally, signifying strong banking relationships.
- RocketFuel's payment system eliminates volatility risk by converting cryptocurrencies to fiat currency instantaneously.
- None.
San Francisco, CA, March 13, 2023 (GLOBE NEWSWIRE) -- RocketFuel Blockchain, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, today confirmed that it has no relationship with, or exposure to, Silicon Valley Bank or Silvergate Bank.
“We have accounts with several large, well established banks around the world and none of them are impacted by the recent turmoil caused by the failures of Silicon Valley Bank or Silvergate Bank,” stated Peter Jensen, RocketFuel’s CEO. “Rocketfuel is a payments infrastructure company and not an exchange. We do not own or hold cryptocurrencies, and therefore have no exposure to any volatility of cryptocurrencies. When payments are received from shoppers, they are instantaneously exchanged to FIAT currencies (primarily USD and EUR) and transferred into our merchants’ bank accounts.”
About RocketFuel Blockchain, Inc.
RocketFuel is a global payments solution company that provides online shoppers with a simple, easy-to-use, one-click checkout process that accepts payments with bank transfers, Bitcoin and 120+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly lower fees for merchants, along with the benefits of no chargebacks, no card declines, and a settlement guarantee that ensures the merchant always receives the amount of its products in the local currency, thus removing any volatility risk. RocketFuel's solutions focus on enhanced customer privacy protection eliminating the risk of a data breach while improving speed, security, and ease of use. Shoppers on RocketFuel powered online stores enjoy seamless check-out and forget the clunky cart paradigm of the past. RocketFuel merchants can implement new impulse buying schemes and generate new sales channels that are unavailable in other present-day e-commerce solutions. More information about RocketFuel is available at: www.RocketFuelBlockchain.com
Forward-Looking Statements Disclaimer:
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and its Quarterly Reports on Form 10-Q for the quarters ended June 30 and September 30, 2022. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For more information, please contact:
Corporate:
contact@RocketFuelBlockchain.com
Investors:
Ben Yankowitz, CFO
b.yankowitz@RocketFuelBlockchain.com
FAQ
What financial impact does RocketFuel Blockchain have from the recent banking crises?
How does RocketFuel ensure merchant payment security?
What type of payments does RocketFuel accept?
What recent statement did RocketFuel make regarding banking relationships?
