VANCOUVER, BC, June 15, 2021 /CNW/ - LQwD FinTech Corp. ("LQwD"
or the "Company") (TSXV: LQWD) (OTC: INLAF) announces that it
has it has purchased C$2,500,000
worth of Bitcoin, at approximately C$46,500 (US$38,000) per Bitcoin since closing its
previously announced acquisition of LQwD Financial Corp.
Along with this purchase, the Company now holds approximately 60
Bitcoins.
This purchase signifies the start of a strategic growth
initiative to accumulate Bitcoin as a reserve asset, but more
importantly as an operating asset, which underpins the Company's
Lightning Network SaaS platform that is under development.
"LQwD is focused on developing enterprise grade infrastructure
for the Lightning Network to drive Bitcoin adoption. This
acquisition of Bitcoin is an important step for the growth of our
business, and our vision, and we will continue to look for
opportunities to increase our holdings and add value for our
shareholders," says Chairman and CEO Shone Anstey.
About the Lightning Network
The Lightning Network is a scalable Layer 2 solution built on
top of the Bitcoin blockchain. It is a solution to scaling the
usage of Bitcoin for microtransactions, dramatically improving upon
the fees, as well as the instant settlement times, on the main
Bitcoin Network.
About LQwD FinTech Corp.
LQwD is a Canadian-based financial technology company that
develops payment network infrastructure and solutions on top of the
Lightning Network. The Company's mission is to develop
institutional grade services that support the Lightning Network and
drive improved functionality, transaction capability, user adoption
and utility and scale of Bitcoin.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, in light of the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws. The Company
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of the Company, LQwD
Financial, their securities, or their respective financial or
operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original
content:http://www.prnewswire.com/news-releases/lqwd-announces-acquisition-of-bitcoins-to-fuel-lightning-network-operations-301312659.html
SOURCE LQwD FinTech Corp.