LAS VEGAS, NV / ACCESSWIRE / June 20, 2017 / Clifford Redekop, the newly appointed CEO of COSTAS, INC (OTC PINK: CSSI), as the first order of business, is busy re-focusing on the "Bitcoin trading platform" direction the company embarked on from inception.
Mr. Redekop stated, "Costas was an early entrant into the FINTEC industry primarily looking for acquisitions based around Bitcoin, so we have a very strong understanding of where FINTEC has been and where it is going in the future."
"We are focusing our efforts to move with the current advances and bring blockchain technology into specific transactional online businesses and become the crossroads of companies who can utilize a one stop tool for acquisition of customers and do business with them seamlessly across multiple advanced technology platforms," he continued.
Mr. Redekop also stated, "We are currently in the process of targeting specific online casino management systems out of Europe and Asia who were early leaders in FINTEC as a result of their gaming software platforms utilizing multiple payment systems integrated into one online shop. Online gaming has shown a strong early acceptance of Bitcoin and thus the introduction of full blockchain technology will streamline the Casino's ability to reduce fraud which is a major hit to the bottom line."
Most of the growth in the online gambling industries is being gained in mobile games and platforms.
According to Ken Research, the U.S. FinTech market size will be $8 trillion by 2020.
The FinTech investments in the U.S. rose from USD 1.6 billion in 2010 to USD 3.4 billion in 2013. 2014 and 2015 saw a dramatic rise in the investments front. In the year 2014, US investments almost tripled from USD 3.4 billion to around USD 9.9 billion. Whereas, investments grew even further in 2015. The highest proportion of investments was attracted by Payments sector followed by the lending space in 2015. The FinTech market has increased in terms of the transactional value from 2010 to 2015 at a CAGR of over 20% during 2010-2015.
In the USA, advanced payment security, faster checkout, loyalty rewards and customer ease have been the major factors driving the mobile wallets market. However, delay in adoption of the required infrastructure such as NFC terminal by retail merchants has prevented mobile wallets from achieving mainstream adoption. Dwolla, Venmo and Chase QuickPay were the pioneers in the space of P2P money transfers. P2P transfer systems have become increasingly prudent to the customers in the US due to the absence of a common network for all financial institutions. Peer-to-peer payment apps have made it highly convenient for customers to transfer money, and their services usually are accompanied with very nominal charges, or even free of cost.
"Europe differs from the USA in that online retailers particularly in the Casino Management business have been well ahead of the curve, having advanced with the e-wallet online gambling space since 2008 when the USA created laws that caused the gaming companies to fully vacate the online casino business. This gives us a better position on the FINTEC curve utilizing a European centric team for acquisitions in the space," Mr. Redekop concluded.
About COSTAS (CSSI): http://www.otcmarkets.com/stock/CSSI/profile
COSTAS INC. is a publicly traded company on the OTC Markets under the symbol 'CSSI'. Costas Inc. invests in early stage Digital Currency projects. We believe strongly in the growth of Distributed Asset Technology and its integration into Financial Technologies (FINTech. Distributed Networks are the next massive internet investment market, as social media was 10 years ago. Costas Inc. strongly believes that a Distributed Asset Technology product will be the next Facebook or Twitter. The current US market of FINTech is approximately $1.24 Trillion.
FORWARD LOOKING STATEMENTS:
This press release and the statements of representatives of Costas, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, Costas' ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
For further information contact:
Costas Corporate Phone Number: 702-448-2911
SOURCE: Costas, Inc.