Stockholm IT Ventures AB

STOCKHOLM IT VENTURES AB ACQUIRES WYRIFY FROM CONSORTIUM OF STAKEHOLDERS LED BY NXCHAIN INC - Seite 2

bitcoin or other digital currencies to settle against the carrier currency with zero volatility. We keep exchange fees at a minimum, and merchant fees
at a minimum. The hardware we aim to give for free to merchants world
wide, since the beacons used at POS are low cost and installs in
seconds. We allow for micro transactions, thereby reaching the world
population with smart/feature phones and not only those with credit cards.
Merchants get fixed prices, zero volatility, zero chargebacks and
instant full settlements. We expect this to become a game-changer for the
POS terminal industry and possibly also the payment card industry."
-Henrik Onarheim, Wyrify founder.

"We're integrating Wyrify with regular banking, so users will be able to
pay their bills and arrange lending in fiat (normal) currencies. Through
this, customers will have all their banking needs covered through the
Wyrify platform. We can even furnish Wyrify users with Debit- and Credit
cards to use where there are not yet Wyrify payment beacons in stores"
-Chakrit Ahmad, CEO of Expay Group (an integrated component of the Wyrify platform)

"We have been a key part of the Wyrify development with our core technology platforms based on digital currencies and mobile phone apps, and will continue a close working relationship with Wyrify as an important part of our services platform. We have strived not to focus on hardware development ourselves, despite the exceptionally important place hardware has in our service suite, and are very pleased to see this taken care of on a highly professional level by Wyrify".
-Sean Tabatabai, CEO of NXChain, Inc. (NXCN.QB, New York).

"I was shocked when I understood the potential of Wyrify, experiencing
the technology live and speaking to pilot customers. This is so much
more than just a payment platform; this is the beginning of a paradigm
shift. This targets the whole world, solving a long list of payment
transaction problems, giving merchant access to free digital
payment tools. I expect Stockholm IT Ventures AB to benefit greatly from acquiring the Wyrify platform, continuing the long-running relationship with NXChain in the US markets and our Asian partners"
-Wayne Lochner, Chairman of Stockholm IT Ventures AB.

Stockholm IT Ventures AB has moved out of a recent restructuring arrangement, as the new board have concluded a review of the business and established the focus of the business moving forward. As a result of this review the board has invited Anthony Norman to rejoin the company as Group CEO.