Bitcoin Well Signs Letter of Intent to Negotiate Real Estate Cryptocurrency Joint Venture
EDMONTON, Alberta, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Bitcoin Well (the “Company” or “BTCW”), a technology company building and utilizing products
that offer safe and easy ways to buy, sell and use bitcoin, announces that it has signed a letter of intent with Greater Property Group, a Canada-wide real estate company (“GPG”) to negotiate a
definitive Joint Venture agreement to work together helping customers use bitcoin and other cryptocurrencies to buy and sell residential and commercial real estate.
Bitcoin Well and GPG envision that the joint venture agreement will include the promotion of each other’s companies through their respective websites and that real estate transactions involving cryptocurrencies will be conducted through the joint venture. Bitcoin Well will provide cryptocurrency services and licensing, compliance strategy and required Know Your Customer processes. GPG will provide real estate services, licensing and strategy. Through the joint venture, Bitcoin Well and GPG will each earn revenue from both the bitcoin processing fees and the real estate brokerage fees.
“I can’t wait to begin working with GPG,” said Adam O’Brien, founder and CEO of Bitcoin Well. “This is yet another step towards a bitcoin standard society as we continue to propel bitcoin’s usability. Our ability to process millions of dollars with ease will allow customers looking to use bitcoin in real estate deals to transact with confidence.”
“As a brokerage that facilitates buying and selling houses with cryptocurrency, we couldn’t be happier to be partnering with Bitcoin Well on this venture,” said Nathan Singh, Managing Partner of Greater Property Group. “The applications for cryptocurrency in real estate are limitless, and we look forward to bringing that investment power and flexibility to more and more transactions and Agents from coast to coast.”
The completion of the joint venture agreement is expected in the first quarter of 2022.
About Bitcoin Well
Bitcoin Well (TSXV: BTCW) offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network, white glove in-person service and a suite of web-based transaction services. Based on management’s assessment of publicly-available data, Bitcoin Well is the first publicly traded Bitcoin ATM company in the world, with an enterprising consolidation strategy to deliver accretive and cost-effective expansion in North America and globally. As leaders of the longest-running, founder-led Bitcoin ATM company in Canada, management of Bitcoin Well brings deep operational capabilities that span the entire value chain along with access to proprietary, cutting-edge software development that supports further expansion. Bitcoin Well is on a mission to shift the relationship that society has with money by offering an ecosystem of products and services that make Bitcoin accessible and understood. This ecosystem includes non-custodial financial offerings (both in-person and online); technology development, including SaaS and internal technology developments through Ghostlab, the technology development pillar of the business; and educational resources designed with the needs of both the customers, and the industry, in mind.