Riot Blockchain's RiotX to leverage Coinsquare's proven platform, infrastructure, and security
FORT LAUDERDALE, Fla., Sept. 4, 2018 /PRNewswire/ -- Riot Blockchain, Inc. (RIOT) ("the Company") announced that its subsidiary RiotX Holdings Inc ("RiotX") has entered into a Software License and Services Agreement (the "Agreement") with goNumerical Ltd. (dba "Coinsquare") to provide a RiotX branded version of the Coinsquare platform with customized functional integrations and associated transaction processing services for use by RiotX. RiotX has obtained an exclusive license for the U.S. market through this partnership with Coinsquare. The Company intends to provide this offering for select customers at RiotX.com.
RiotX has been investigating and pursuing the regulatory pathway for the launch of a cryptocurrency exchange in the United States since the start of the year. The Agreement with Coinsquare finalizes a key component in the ability to offer certain customers in the United States a proven platform that prides itself on security and customer experience. Coinsquare has built itself into a market leader in Canada since launching in 2015, and has successfully raised over CAD $50 million in the past twelve months with prominent investor participation.
RiotX, through its subsidiary Logical Brokerage Corp, is a futures introducing broker that is registered with the Commodity Futures Trading Commission ("CFTC") and is a member of the National Futures Association ("NFA")*. RiotX is licensed with FinCEN as a Money Service Business, has obtained a Florida Money Transmitter License, and is actively pursuing additional state Money Transmitter Licenses.
*LOGICAL BROKERAGE CORP. IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.
About Riot Blockchain
Riot Blockchain is focused on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency mining, targeted development of exchange and mining pool platforms, along with other investments within the sector. For more information, visit:
Coinsquare is Canada's most secure digital currency trading platform for buying, selling, and trading Bitcoin, Ethereum, and other digital currencies. Since its founding in 2014, they have never lost a coin. Remaining steadfastly focused on transparency, risk mitigation, and building an open-minded culture, Coinsquare is on a mission to grow into a multi-faceted financial services company anchored in blockchain technology.
RiotX is working to launch a cryptocurrency exchange initially serving select customers within the United States. RiotX aims to simplify cryptocurrency for the masses and will be focused on providing retail customers a transparent and secure offering to transact in cryptocurrencies.
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Form 10-K for the fiscal year ended December 31, 2017 filed with the Securities and Exchange Commission (the "SEC") on April 17, 2018, as amended on Form 10-K/A on April 30, 2018 and June 29, 2018, and in periodic and current reports we file with the SEC. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor" below.
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic and current filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.
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