Zoompass Achieves Critical Milestone Payment

Rhea-AI Summary

Zoompass Holdings (OTCQB:ZPAS) announced a milestone payment of $200,000 USD received from Rockwood Digital Assets as part of a $350,000 USD upfront fee. This payment is for the customization and implementation of protocols to launch the InfyDX Cryptocurrency exchange. Zoompass is also providing integration with settlement banking and investor onboarding services. The next milestone payment is expected within 30 days. CEO Manny Bettencourt emphasized the deployment of blockchain technology to enhance digital asset marketing.

Positive

• Received a milestone payment of $200,000 USD.
• Anticipates next milestone payment within 30 days.
• Expansion into the cryptocurrency exchange market with InfyDX.

Negative

• None.

TORONTO, ON / ACCESSWIRE / June 23, 2021 / Zoompass Holdings Inc. (OTCQB:ZPAS) ('Zoompass' or 'Company') is pleased to announce that it has received in Q2, a milestone payment of $200,000 USD of a committed upfront fee of $350,000 USD from Rockwood Digital Assets. The milestone payment is for customization and implementation protocols needed to launch the InfyDX Cryptocurrency exchange. The next milestone payment is anticipated within the next 30 days.

Zoompass is providing integration with settlement banking along with ongoing investor onboarding and offboarding services. These services include developing a global distribution infrastructure utilizing the Company's global KYC and AML partners.

'We are providing Rockwood Digital Assets (RDA) with robust, blockchain technology to secure and market digital assets in a fully integrated global solution. This supports RDA's mission of marketing turnkey investment and trading solutions to its customers. We are going to leverage this success and focus on rapid deployment and expansion of our technology.' says Manny Bettencourt, CEO - Zoompass Holdings Inc.

About Zoompass: Zoompass is a global fintech innovator focused on developing and deploying blockchain and digital payment solutions, including asset tokenization and cryptocurrency exchanges. The Company continues to aggressively build-out its global infrastructure to support the onboarding and offboarding of customers to its digital payment and blockchain solutions. The Company's goal is to provide a one-stop, all-inclusive offering of services that will allow organizations to better serve its clients and become more competitive through the application of cutting-edge blockchain and digital solutions.

About Rockwood Digital Assets: Rockwood Digital Assets is a technology solutions and services company with a focus on providing B2C, B2B platforms and services utilizing blockchain technology that delivers digital assets.

Manny Bettencourt
Email: mbettencourt@zoompass.com
Website: zoompass.com
Tim Harrington
Email: info@rockwooddigitalassets.com

SOURCE: Zoompass Holdings, Inc.

View source version on accesswire.com:
https://www.accesswire.com/652837/Zoompass-Achieves-Critical-Milestone-Payment

FAQ

What is the significance of the $200,000 milestone payment announced by ZPAS?

The $200,000 milestone payment represents part of a $350,000 upfront fee from Rockwood Digital Assets for launching the InfyDX Cryptocurrency exchange.

When is the next milestone payment expected for ZPAS?

The next milestone payment for Zoompass is anticipated within the next 30 days.

What services is Zoompass providing to Rockwood Digital Assets?

Zoompass is providing integration with settlement banking and ongoing investor onboarding and offboarding services.

What does Zoompass aim to achieve with its blockchain technology?

Zoompass aims to leverage blockchain technology to secure and market digital assets, enhancing their digital payment solutions.