Cryptocurrency Market Rebounds After Recent Decline

Victory Square Technologies Inc. News Commentary

New York, NY (1/16/2018) – According to data from Coinmarketcap, the total market capitalizations of 1419 cryptocurrencies were valued at about $700 billion on Friday. Recent news from South Korea planning to ban cryptocurrency trading, sent most of the digital currencies’ prices lower last Thursday. However, the market bounced back quickly and recovered its losses by Friday morning. The cryptocurrency market witnessed rapid growth in 2017 and according to Coindesk ICO Tracker, more than $3.7 billion were raised via initial coin offerings (ICO) in 2017. In a separate note, Thomas Glucksmann, head of APAC business development for cryptocurrency exchange Gatecoin, told CNBC by email. “Over the last year and a half, we’ve seen that the majority of tokens issued during ICOs and traded on exchanges, have been coded to run on the ethereum network”. Victory Square Technologies Inc. (CSE:VST) (OTC:VSQTF), Riot Blockchain Inc (NASDAQ: RIOT), Global Blockchain Technologies Corp. (OTC: BLKCF), India Globalization Capital, Inc. (NYSE: IGC), Pareteum Corporation (NYSE: TEUM)

South Korea and Japan are the major cryptocurrency trading markets in Asia after the Chinese government announced a ban on Initial Coin Offering and shut down the major cryptocurrency exchanges in China last year. According to data from CryptoCompare, South Korea and Japan account for about 5 percent and 38 percent of bitcoin trading respectively. For Ethereum, about 14 percent of the transaction were made by South Korean currency. For ripple, the third largest cryptocurrency by market cap, South Korea accounted for about 22 percent of the trading volume.

Victory Square Technologies Inc. (CSE:VST) (OTC:VSQTF) is also listed on the TSX Venture Exchange under the ticker symbol ‘VST’. Just earlier today the company announced breaking news that it, “has become and early strategic adopter, investor, and partner in the Gibraltar Blockchain Exchange (“GBX”). The GBX is a subsidiary of the Gibraltar Stock Exchange (“GSX”), a European Union (“EU”) operated stock exchange since 2014. Victory Square’s investment connects them with the GBX partnership network and renowned blockchain technology firms such as Enterprise Ethereum alliance, PWC, Isolas and Kenetic Capital.  

“The GBX represents an opportunity to partner up with the world’s first licensed and regulated token sale platform and digital asset exchange that is operated by an EU regulated stock exchange,” said Victory Square’s chief executive officer, Shafin Diamond Tejani. “The GBX is expected to be a global listing and token sales springboard for utility tokens that have satisfied a strict due diligence and admissions process as well as a high-quality digital asset exchange.  In this regard, the GBX intends to set a higher standard for token issuance and trading for the benefit of all market participants.  Victory Square is delighted to partner with the GBX on this initiative, which provides an elite regulated market for Victory Square portfolio companies.”

Gibraltar is an economically prosperous sovereignty with a highly diversified economy including financial services, shipping, tourism, and most notably e-gaming. Gibraltar has established itself as one of the earliest homes to blockchain and crypto-asset companies. Gibraltar has had tremendous success in identifying new, technology based opportunities and then building vibrant and well-regulated industries.

GBX’s CEO Nick Cowan shared “Since we started the GBX project, we have been humbled and flattered by the support and interest we have received in building a rules based marketplace promoting best practices in the industry. We have received phenomenal support globally for our ICO, and we are very pleased that Victory Square have chosen to join us in our journey to build the crypto harbour, right here in Gibraltar.”

The GBX Platform will provide crypto and blockchain companies a number of advantages. These include: the ability to raise post-ICO equity rounds on the GSX; a regulated and licensed platform for companies raising through an ICO; and a fully regulated cryptocurrency exchange for their tokens post-ICO. The Gibraltar government recently launched their Distributed Ledger Technology (DLT) Framework, solidifying their position as a market leader in blockchain and a facilitator of innovation in technology, and providing a pathway to Tokenized Securities (bonds, issuances) within a Stock Exchange ecosystem. Victory Square selected the Rock Token as an investment vehicle because the GBX has been exceptionally thorough in the preparation and organization of their overall business structure and operations.  In particular, the GBX has developed the GBX Alliance to help facilitate discourse and form thought leadership around the growing token industry. The GBX Alliance includes key players and interest groups throughout the blockchain space including Tech Firms, Academia, Investors, Practitioners, and Legal Advisors. This group will then elect a council who will identify and manage partnerships and sponsor initiatives, further raising the profile of the GBX. The Alliance Council in turn connects to the GBX Partnership Model, which selects proven industry experts and key influencers, advises clients and will be responsible for bringing tokens to market on the GBX.

Riot Blockchain Inc (NASDAQ: RIOT) recently announced that it has established Digital Green Energy Corp as a wholly owned subsidiary to explore international infrastructure opportunities. The Company is identifying environmentally friendly projects with large energy capacity and a cost-efficient rate for cryptocurrency mining and data center operations. Daniel Stefan Robertsen has been appointed President of Digital Green Energy Corp and will begin his duties in the role on January 24, 2018. “We believe green energy infrastructure will continue to be in strong demand and we aim to position Riot accordingly,” commented John O’Rourke, Chairman and CEO of the Company. 

Global Blockchain Technologies Corp. (OTC: BLKCF) amounted last week that it has made a strategic investment of C$2.0 million in Spectra7 Microsystems Inc., a leading provider of high-performance analog semiconductor products for broadband connectivity markets. In November 2017, Spectra7 announced a new product line optimized for blockchain processing data centers. Data Centers focused on blockchain processing are extremely dedicated to network and computational efficiency. Spectra7’s BCI-2500 products enable copper cables up to three times the reach of passive copper cables at dramatically lower power levels than alternative solutions. Spectra7’s BCI-2500 product line is the market’s first to address the specific needs of data centers running blockchain applications including Bitcoin mining.

India Globalization Capital, Inc. (NYSE: IGC) has two lines of businesses, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer’s patients. On December 26, 2017, the company announced that it will leverage its existing team of technology and healthcare experts to develop methods utilizing blockchain in areas such as product identification assurance (PIA). “We understand the unique challenges facing the cannabis industry and believe that our team has the expertise to be the first to create meaningful solutions to address these issues using distributed ledgers inherent in blockchain technology. As we work to develop blockchain in the rollout of Hyalolex, our goal would be to establish a universal cannabis platform applicable to solving multiple industry challenges facing dispensaries and consumers. This would include addressing issues such as transactional difficulties, inadequate product labeling, product identification assurance (PIA) and product origin assurance,” stated Ram Mukunda, CEO.  

Pareteum Corporation (NYSE: TEUM) and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise, Software-as-a-Service and IoT markets. On December 26, 2017, the company announced that it has completed development enabling it to add support of Blockchain technology to its billing and settlement services. This newest service capability enables Pareteum customers to participate in the transformational “Digital Economy Monetization to the Cloud” and now accept and process Bitcoin, Ethereum, Litecoin, Airtokens and other forms of cryptocurrencies. The new feature being offered to all Pareteum’s Global Mobility Cloud customers will allow them to not only accept the crypto-currencies but also to perform payment processing and settlements with their partners in any currency. 

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