Wellfield and Paybis Forge Partnership to Intensify Coinmama's Capabilities

March 20, 2024 8:30 AM EDT | Source: Wellfield Technologies Inc.

Toronto, Ontario--(Newsfile Corp. - March 20, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (the "Company" or "Wellfield") is excited to announce our strategic partnership with Paybis, a significant step forward in bolstering Coinmama's operational capabilities as we expand our product and service offerings. Paybis' expertise in regulatory compliance and their robust domestic payment processing connections will be instrumental in supporting Coinmama's customer onboarding process and support its evolving regulatory demands across various geographies. This partnership is a strategic achievement for Coinmama as it broadens the platform's DeFi offerings and introduces a new self-custody Mobile App, powered by Fireblocks. The app, slated for release later this year, plays a key role in Wellfields commitment to establish Coinmama as a brand that empowers everyday consumers to use DeFi with ease.

Nimrod Gruber, Co-Founder of Coinmama, commented, "Building on Coinmama's reputation as the trusted and friendliest gateway for buying Bitcoin and cryptocurrencies, our next endeavor is to make Coinmama synonymous with user-friendly decentralized finance, a goal that demands partners who are quick to adapt and eager to be part of our transformative journey. The Paybis team has been around for many business cycles and shares the same commitment to the ecosystem that we do. Their combination of operational excellence, geographical reach, and long-term commitment to our industry are the ingredients for a perfect partnership, and we are excited to work with them."

Innokenty Isers, Founder and CEO, added, "Paybis was founded in 2014 as a group of passionate blockchain enthusiasts who share a desire to build the most trusted and responsive platform for brands who bring millions of people into blockchain. We are thrilled by this deep partnership with Coinmama, a company that embodies our shared goal of positively impacting blockchain's growth. The direction Coinmama is taking, especially in the realm of decentralized finance, is one we deeply respect and are excited to be a part of. Together, we're paving the way for a more inclusive and innovative blockchain future."

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 services. 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

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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: anticipated benefits from changes on the Ethereum blockchain; 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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