CryptoBlox Signs LOI To Acquire Rights to Digital Asset License

Vancouver, B.C., Sept. 28, 2023 (GLOBE NEWSWIRE) -- CryptoBlox Technologies Inc. (the “Company” or “CryptoBlox”) (CSE: BLOX), is pleased to announce the signing of a non-binding letter of intent (“LOI”) with Blockchain Fintech Unipessoal LDA (“Blockchain Fintech”), for a strategic partnership where CryptoBlox will acquire the rights to a digital asset license (the “License”) based in the European Union.

About Blockchain Fintech Solutions

Blockchain Fintech, is a company specializing in developing blockchain based technologies that help bridge the blockchain adoption gap. With a mission to streamline the transition onto the blockchain economy, Blockchain Fintech pioneers user-friendly payment solutions that redefine the way individuals and businesses currently transact – both locally and internationally. Through their innovative blockchain based payment solutions, Blockchain Fintech is not only revolutionizing traditional payment systems but also catalyzing a broader shift towards both digital and decentralized financial ecosystems. They are doing this through their unparalleled commitment to accessibility and ease of use. This commitment extends beyond mere functionality, as they prioritize user experience to ensure that individuals of all backgrounds can navigate Blockchain Fintech products confidently and efficiently, while not being expected to understand the complexities of the underlying blockchain technology.

“This partnership comes as part of a broader blockchain ecosystem strategy” explained Akshay Sood, Chief Executive Officer of CryptoBlox. “At CryptoBlox, we are extremely thrilled to begin work on introducing our own structured digital asset products that will be enabled by the License,” added Mr. Sood.

CryptoBlox’s License Strategy

Following completion of the transaction with Blockchain Fintech, CryptoBlox’s exclusive rights to the License would allow the Company to expand its business lines to include structured digital asset products. CryptoBlox will be laser focused on upholding the vision set out by Blockchain Fintech by prioritizing user experience while providing market-tested functionality to all accompanying products that will be rolled out. Amongst the planned structured product suite, CryptoBlox is exploring a plethora of financial digital solutions designed to help onboard both the banked and unbanked onto the blockchain economy in an efficient and user-friendly manner.