Wellfield Launches Critical Growth Phase for MoneyClip App

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  • The company has entered its initial period of rigorous testing in partnership with early adopters of the app and will launch an improved user interface and new connectivity features in the first quarter of 2022, to support improved usability, brand awareness and scalability. as the new blockchain infrastructure is integrated over the next 12 months.

  • Wellfield’s vision for the MoneyClip app (“MoneyClip” or “the app”) is to integrate it into the ultimate daily blockchain-powered financial app, providing consumers with easy access and greater control over their money. by exploiting all the value and flexibility offered by decentralized finance (“DeFi”).

  • The Company has also launched an engagement program that is doubly focused on expanding the app’s user base and its evolution from a peer-to-peer (P2P) payment app to a more financial app. large, powered by a blockchain infrastructure.

  • MoneyClip launched a new website at moneyclip.io.

VANCOUVER, BC, December 24, 2021 / CNW / – Wellfield Technologies Inc. (TSXV: WFLD) (the “Society” Where “Catchment field“), is pleased to announce that its wholly owned subsidiary, MoneyClip Inc. has launched an intensive engagement program, focused on growing its user base and signing up retail partners as it is preparing for the introduction of additional features until 2022.

MoneyClip is available for download in Canada, for iOS and Android users. The app currently offers P2P payment functionality, and Wellfield has a multi-year plan to add functionality to make MoneyClip the primary financial interface for a user. Wellfield expects to deliver enhanced versions of financial products and services currently available to Canadian consumers only through traditional channels, taking advantage of smart contracts and other DeFi infrastructures built by the company’s Seamless brand and by the through partnerships and integrations with third parties in the DeFi ecosystem.

Management commentary

Chanan steinhart, Founder of MoneyClip and Director of Strategy and Business Development at Wellfield commented, “In our latest round of user research and testing, we’ve seen a marked shift in the demographics of Gen Z. As late as last spring, most viewed blockchain as an ecosystem. speculative and high-risk. Now, many see blockchain and DeFi as a legitimate global financial system that begins to offer the products and services their parents receive at the local branch and online, but with attractive and sustainable economic incentives, and the user experience they expect as mobile native consumers. Positioning us to capture this shift in consumer spending in the banking and financial industry. Our vision for MoneyClip is to create a full-service financial application that is the best of all worlds – designed for Canadians, compliant with local regulations and powered by global DeFi markets p To give our users full control and flexibility over their money. “

Mr. Steinhart continued, “We are building MoneyClip to make Canadians’ money very efficient and productive. We do this by starting 2022 by launching new engagement efforts and executing a roadmap of developing products and services that deliver better returns, no lock-ups, easy payments, fair loans, and rock-solid security. – all powered by DeFi and blockchain infrastructure.By 2021, the basic blockchain infrastructure needed to support these features did not exist, but thanks to Wellfield’s branded Seamless IP and recent developments by other peers in the space, our vision of MoneyClip can become a reality. “

Wellfield Launches Critical Growth Phase for MoneyClip App – Rapidly Evolving to Traditional Funding Offerings Powered by Blockchain and DeFi Infrastructure (CNW Group / Wellfield Technologies)

About MoneyClip

Fund

Blockchain, combined with the power of the internet, has the power to reinvent the world’s financial systems, pushing aside middlemen and creating a decentralized financial system capable of eliminating friction and costs, improving security and build confidence. The state-of-the-art infrastructure required to create end-to-end solutions and open new avenues for decentralized financial services is only just beginning to be commercialized, and just like the first Internet, these networks lack compelling applications that make the technology. relevant to people’s daily lives. Today’s blockchain applications focus on speculative use cases rather than offering traditional financial solutions powered by decentralized finance.

Vision

Wellfield built MoneyClip with the vision of creating a blockchain-powered daily financial application that can serve as a primary point for consumers to secure and use their money. The app currently offers P2P payment functionality, and Wellfield has a multi-year plan to integrate the new blockchain infrastructure, as soon as it becomes available, to provide consumers with access to a full range of DeFi and traditional financial services. .

The solutions delivered through the app are powered by decentralized protocols developed in-house by the company’s wholly owned subsidiary, Seamless Logic Software Ltd. (“Seamless”) and other partnerships and integrations with third parties in the DeFi ecosystem.

About Wellfield Technologies

Wellfield is focused on unleashing the power of Decentralized Finance (DeFi) by creating open and accessible decentralized protocols as well as blockchain-based consumer products. Seamless – the company’s protocol layer brand – focuses on solutions that improve and optimize liquidity in the Ethereum ecosystem, make Bitcoin compatible with DeFi, and enable decentralized blockchain exchange. MoneyClip – Wellfield’s app layer brand – is powered by DeFi to improve everyday financial products and make money work for the way people live.

Warning notice

A listing application prepared in accordance with the policies of the TSX Venture Exchange (the “Listing Application”) is available on the Company’s SEDAR profile, available at www.sedar.com, and contains additional information about Wellfield.

The contents of this press release are expressly qualified by the disclosures and content of the Listing Request and readers are encouraged to consult the Listing Request. Investors are cautioned that, unless otherwise specified in the listing application, any information published or received regarding the well field may not be accurate or complete and should not be relied upon. Trading in Wellfield securities should be viewed as highly speculative.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, of the securities of United States. Wellfield securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered or sold in United States or to US Persons, unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

Caution regarding forward-looking statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement that deals with predictions, expectations, beliefs, plans, projections, goals, assumptions, future events, or performance (often but not always using expressions such as “expects “Or” does not expect “,” is expected “,” anticipates “or” does not anticipate “,” plans “,” budget “,” planned “,” plans “,” estimates “,” believes “or “intends” or variations of these words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “could” or “? The forward-looking statements contained in this press release include statements regarding the Company’s success in launching the protocols and other technologies and utilities discussed here. 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 this forward-looking information are reasonable es, it cannot guarantee that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the activities and operating results of the Company; the impact of COVID-19; the decentralized finance industry in general, 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 consult the listing request available on the Company’s SEDAR profile at www.sedar.com. 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 based will be achieved. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Unless 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 this information search or other.

SOURCE wellfield technologies

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