Wellfield Technologies to Expand Engineering Development Capacity for Transparent Branding with New Hub in Portugal | 2022-01-19 | Press Releases

  • The Company deepened its partnership with Exaud, a respected software development and technical consulting firm based in Portugal, to help create a development center to empower existing Seamless teams.
  • With the current suite of Seamless products awaiting launch, this new hub will secure high-demand development talent and should shorten the time-to-market for the next phase of Wellfield services.

TORONTO, January 19, 2022 /CNW/ – Wellfield Technologies Inc. (TSXV: WFLD) (FRANKFURT: K8D) (the “Society” Where “well field“), is pleased to announce that it has partnered with Exaud, LDA to establish a development hub in Portugal, with a mandate to support the Seamless development pipeline. Based at Great Port, with an additional office at Amsterdam, Netherlands, and a representative office in Düsseldorf, Germany, Exaud is a global provider of software solutions, in various sectors such as automotive and manufacturing, fintech and financial services, software and high technology, media and digital education and retail and logistics.

As previously announced, the company is in the process of developing solutions under the Seamless brand, to meet the necessary needs of the DeFi ecosystem. This includes services such as: making Bitcoin compatible with DeFi; blockchain cross-trading; and decentralized services of the prime broker type. Beyond this pipeline of near-term opportunities, Wellfield has identified several other areas of importance that are needed for DeFi-powered applications like MoneyClip, a subsidiary of Wellfield, and to strengthen the ecosystem and solution suite. Seamless. Once established, the Company’s development hub will participate in the development of products that the research group designs and prototypes to address these opportunities.

Management commentary

Levy Cohen, CEO of Wellfield commented: “We strongly believe that DeFi will reinvent global finance. Increasing our commercialization efforts through an additional development hub will ensure that Wellfield remains at the forefront of the evolving DeFi ecosystem, building on on the planned launches of several solutions under our Seamless protocol layer brand in 2022. So far, our team has been focused on building capabilities within Seamless to address some of DeFi’s biggest technical challenges, but solutions to these immediate challenges are just the beginning.We are fortunate to benefit from the experience and expertise of Exaud, our partners in Portugal.”

About Wellfield Technologies

Wellfield is focused on unleashing the power of decentralized finance (DeFi) by creating open and accessible decentralized protocols and blockchain-based consumer products. Seamless – the company’s protocol layer brand – focuses on solutions that improve and optimize liquidity in the Ethereum ecosystem, make Bitcoin compatible with DeFi, and enable decentralized exchange between blockchains. MoneyClip – Wellfield’s app layer brand – is powered by DeFi to improve everyday financial products and make money work for the way people live.

About Exaud

Exaud is an established European software development and technical consultancy company that provides custom software solutions. Exaud has been in business for over 10 years and has a rich heritage of creating innovative software products and providing development services to Fortune 500 companies, large enterprises and mid-sized companies. Exaud is a global solutions provider specializing in various industries, such as automotive and manufacturing, fintech and financial services, healthcare and life sciences, software and high technology, media and digital education and retail and logistics. For more information, visit www.exaud.com.

Caution notice

A listing application prepared in accordance with the policies of the TSX Venture Exchange (the “Listing Application”) is available on the Company’s SEDAR profile, available at www.sedar.com, and contains additional information about Wellfield. The contents of this press release are expressly qualified by the disclosures and contents of the listing application and readers are encouraged to review the listing application. Investors are cautioned that, unless otherwise specified in the listing application, any information published or received regarding the wellfield may not be accurate or complete and should not be relied upon. Trading in Wellfield securities should be considered highly speculative.

The TSXV has neither approved nor disapproved of the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities of United States. The securities of Wellfield have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any state securities law and may not be offered or sold in United States or to US Persons, unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

Caution Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as of the date of this press release. Any statement that discusses future predictions, expectations, beliefs, plans, projections, goals, assumptions, events or performance (often, but not always, using expressions such as “s’ expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “expected”, “expects”, “estimates”, “believes” or “intends” or variations of these words and phrases or indicating that certain actions, events or results “may” or “might”, “would”, “might” or “will” be assumed to occur or be realized) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this press release include statements regarding the company’s success in launching the protocols and other technologies and utilities discussed herein. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it cannot guarantee that the expectations in such forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. These factors include, but are not limited to: compliance with numerous government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; the decentralized financial industry in general, in particular Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are advised that the above list is not exhaustive and readers are encouraged to consult the listing application available on the Company’s SEDAR profile at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting this forward-looking information. -search for information or other.

SOURCE Wellfield Technologies

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