Houston, Texas, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Majic Wheels, Corp. (OTC Pink: MJWL) ("Majic" or the "Company"), a Delaware corporation, that is positioning itself as a major player in the disruptive industries of fintech and software development, is pleased to announce today the offering of CGCX Tokens in the Indian Market through their strategic partner, PCEx. CGCX Tokens will be available in CGCX-INR, CGCX-USDT, CGCX-C2USD trading pairs.
According to a report by cryptocurrency research firm Chainalysis, India is one of the world's fastest growing crypto markets, increasing by 641% between July 2020 and June 2021.
In a recent study, it has been reported that over 20 million people in India have taken up cryptocurrency since 2021 and now hold around $5 billion worth of crypto assets. Despite 2 crashes last year, many Indians continue to flock towards this new financial technology because they are looking for outsized returns on their investments!
One of the most exciting things about this partnership is that it will allow CGCX tokens to be traded at over 250 offices of PCEx in India, which is to ensure that no potential customer will be left behind!
“Cryptocurrencies are more than just a fad; they're revolutionary. The cryptocurrency market has been growing exponentially, which makes it one of the fastest-growing industries in history – if not THE fastest growing industry on earth! We are extremely elated to be in this partnership with CGGX to trade their tokens for the Indian Market. Exciting times ahead” - Sandeep Phogat, CEO & Founder of PCEx
This is a strategic move by CGCX to expand its reach in India. This will make it easier for consumers who are looking to buy using local currencies.
CGCX is looking to bring visibility for CGCX tokens on several channels, and have identified potential partnerships with bollywood celebrities as well as prominent cricket players. CGCX are looking to reach out to those who have missed out on Bitcon, Ethereum as well as Alt coins such as Solana, Polygon, Terraluna, etc by introducing CGCX tokens that have the potential to reach similar heights too.
“With the combination of CGCX tokens and the robust PCExchange, this will further strengthen our position as a Fintech & Technology leader in India—we believe it will be one major catalyst pushing cryptocurrencies even higher up their value chain over time!” - Sathyanandham Anguswami - CEO of CGCX and COO of MJWL.
“We are absolutely thrilled with the latest addition to our footprint.” – David Chong –CEO of MJWL
About Majic Wheels Corp (“MJWL”)
Majic Wheels Corp Inc., a Delaware holding corporation, has positioned itself as a major player in the disruptive industries of Fintech and software development by means of multiple acquisitions. The Company's first acquisition is the cryptocurrency exchange, cryptocurrency mining farm and custody services platform: Calfin Global Crypto Exchange (CGCX) followed by 26% equity stake of Bamboo Wellness Holdings Limited. MJWL is also working on the closing of the acquisition of PCEX as previously announced.
Majic Wheels Corp. is listed and traded on the Over-the-Counter Market under the trading symbol "MJWL”.
About Calfin Global Crypto Exchange (“CGCX”)
Founded in 2018, CGCX set out to offer highly sophisticated cryptocurrencies services catering for the larger blockchain community. CGCX has already established a crypto trading platform and custody solutions. In the latter, it is one of the first participants to offer insurance to some of its clients.
With the backing of a highly experienced team with deep expertise in Equity, Futures Market and Corporate finance, CGCX coupled its knowledge of the traditional markets with the fast-growing cryptocurrency market to develop innovative products that fulfill the needs of cryptocurrency users in select markets (Malaysia, India, Mauritius, UAE).
Developing various software solutions for the broad cryptocurrencies market, CGCX has established three different business lines (Crypto Exchange, Custody Services, Cryptocurrency Mining) that complement the needs of the cryptocurrency market.
About Panaesha Capital (“PCEX”)
PCEx is an Estonia based cryptocurrency exchange that brings a novel approach to the digital currency market. PCEX is the first exchange to introduce the B2B Franchise Model providing them an opportunity to start their own successful trading business by leveraging the benefits of PCEX’s high volume, liquidity, and crypto network.
About PCEX Member
PCEX Member is the first crypto broker in India that has introduced the B2B Franchise Model in the cryptocurrency market. Being registered as a trading member at PCEX (www.pcex.io), an Estonia based cryptocurrency exchange, the brand has succeeded in creating a network of 250+ franchises, 45,000+ clients, and 40+ satellite offices in different regions of India. By introducing this Franchise Model, PCEX Member became the first cryptocurrency platform that introduced the concept of the stock market in the cryptocurrency world and opened a gate of new business opportunities for those who wants to start their own successful brokerage business in the crypto universe from their own network of clients.
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.
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SOURCE: Majic Wheels Corp