DALLAS, TX--(Marketwired - Mar 1, 2016) - Costas Inc. (
These clients are located all over the globe, with a very high concentration in Asia, which is home to the majority of Bitcoin volume. The clients have already been vetted through a KYC process, thus enabling AT to streamline the KYC (Know Your Client) and AML (Anti-Money Laundering) procedures.
For AT, this represents a potential windfall, as the company's technology and trading platform (Authenta.Trade) is expected to be utilized in large part by Asian traders. According to a recent report by Goldman Sachs, more than 80% of Bitcoin trades originated involved the Chinese Yuan.
"Many Chinese have flocked to Bitcoin as a platform for moving money safely and inexpensively anywhere in the world," said AuthentaTrade CEO Gwyn Jones. "While there has been some volatility in the value of the Bitcoin over the past 12 months, for many people this is offset by the ease with which Bitcoin transactions can be made, particularly in places where there is excessive government oversight, such as in China. What has been missing from the equation, however, is a reliable, platform that has both liquidity and security. That is what AuthentaTrade will provide with its proprietary Bitcoin Wallet Platform."
AT's largest shareholder, Costas Inc., has also reiterated its commitment to supporting AuthentaTrade as it moves toward becoming an integrated cryptocurrency exchange.
"We are very pleased with the progress Gwyn and the team are making both technically and also with respect to bringing new potential traders and volume to the AuthentaTrade platform," said Dennis Karenga, President of Costas Inc. "We continue to work closely with the team in Asia, the Middle East and in Europe to assist AT in meeting its growth targets. Also, we are pleased to be progressing in meeting our objectives to expanding in the Financial Technology (FinTech) space."
About Costas Inc.
Costas Inc., is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending.
About AuthentaTrade Ltd.
AuthentaTrade Ltd., (�) is poised and committed to becoming the leader in the burgeoning digital currency financial landscape. Our revolutionary exchange products will provide the flexibility and efficiency this market desperately needs. AuthentaTrade's goal is to help stabilize the digital currency market by providing bank-level system architecture and security for depositors, and by introducing market liquidity where it has never previously existed.
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