Wellfield Launches New Decentralized Finance Services on Coinmama.com

March 15, 2024 8:30 AM EDT | Source: Wellfield Technologies Inc.

  • Coinmama is one of the world's most enduring and trusted brands with over 3.8M registered users, to safely and effortlessly buy BTC, ETH, and other cryptocurrencies.

  • Coinmama has launched a new decentralized trading offering, giving users access to hundreds of digital assets and the largest decentralized exchanges across blockchain from one simple and effortless place.

  • This launch marks the first of a series of upcoming products that connects users directly to the most popular DeFi markets from the safety and security of Coinmama's trusted platform.

Toronto, Ontario--(Newsfile Corp. - March 15, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (the "Company" or "Wellfield") is excited to announce the launch of decentralized trading on Coinmama.com, enabling users to simply and securely access the largest decentralized exchange venues across Ethereum from one effortless place, marking the first of a series of new products launching from Coinmama that enable consumers to access the best of DeFi from one trusted platform.

As decentralized trading, staking, and other DeFi markets continue to be proven out by early adopters, the majority remain hesitant to take self-custody of their digital assets and use decentralized finance, citing complex user experiences, uncertainty which DeFi protocols to trust, and fears of losing funds from user error. Coinmama's new launches are designed to address these challenges and enable consumers to take self-custody of their cryptocurrency and use DeFi confidently from one easy to use and secure platform.

Management Commentary

Levy Cohen, CEO of Wellfield, commented, "Introducing Coinmama's first DeFi product marks an exciting milestone and underscores our dedication to executing our roadmap. This launch is more than just a new revenue stream; it's about making DeFi accessible and user-friendly, especially for the majority who still keep their cryptocurrencies in centralized exchanges. Our upcoming new offerings, including decentralized staking and Coinmama Mobile App with Fireblocks powered self-custody wallet, are designed to streamline the DeFi experience. Recognizing that we're in the early stages of blockchain and DeFi adoption, we're enthusiastic about the opportunity to establish Coinmama as a platform that empowers everyday consumers to engage with DeFi confidently."

Executing on Wellfield's Strategy

Wellfield Technologies began as a pioneering effort by academics and researchers dedicated to developing innovative DeFi protocols on Bitcoin and Ethereum. Our strategic decision to go public on the TSX-V was fueled by a vision to leverage a public platform for acquiring businesses that already had established customer bases. Wellfield's goal is to natively integrate our cutting-edge DeFi protocols into these existing brands. We believe that owning customer relationships is crucial for the sustained success and profitability of our proprietary DeFi technology.

Since our public listing, Wellfield has strategically acquired key business across various segments: Coinmama.com in the consumer space, Tradewind Markets in real-world asset tokenization, and Brane Trust catering to regulated and institutional clients. Our aim is to weave our technology into these entities, creating a cohesive and comprehensive user experience driven by decentralized finance.

The introduction of decentralized exchange trading on Coinmama.com is a pivotal achievement in our ongoing strategy. It's an enhancement of Coinmama's current offering and a strategic step towards integrating our proprietary DeFi solutions with Coinmama's extensive base of over 3.8 million registered users.

About Wellfield Technologies

Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions that leverage blockchain technology for consumers and institutions. Our retail platform Coinmama provides seamless access to the cryptocurrency market for over 3.8 million registered users across 180 countries, including friendly self-custody solutions and disruptive DeFi solutions. Wellfield operates Tradewind Markets as a real-world-asset tokenization platform with our flagship VaultChain™ Gold and VaultChain™ Silver, backed by physical metal custodied with the Royal Canadian Mint. Expanding our offerings for institutional clients, we acquired Brane Trust and are working towards regulatory approval to operate as Canada's second qualified digital asset custodian.

Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io.

For further information contact:

Wellfield Technologies Inc.
Levy Cohen, CEO
(832) 483-2575

Ryan Graybill, Investor Relations

Cautionary Notice on Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" ("forward looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding: its proprietary technology; future product launches; the Company's ability to monetize its technology and acquisitions; the anticipated strategic, operational and competitive benefits of recent business developments, which are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the ability of the Company to raise additional capital to fund future operations; compliance with extensive government regulations, domestic and foreign laws and regulations adversely affecting the Company and the decentralized finance industry generally, in Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the disclosure documents accessible on the Company's SEDAR+ profile at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

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