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.
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About Greater Property Group
The Greater Property Group is a national residential and commercial real estate brand, known for their unique selling propositions, exceptional service, and well-edited marketing and branding. Dissatisfied and discontented with the status quo, the Greater Property Group separates itself as a natural industry disruptor through its focus on leading edge technology and innovative consumer programs for both buyers and sellers. While growing and expanding, the Greater Property Group’s value proposition remains the same – a combination of exceptional customer service, unrivaled marketing, and deep industry expertise. The GPG is also fast becoming the leading advisors and consultants for the use of digital currency in real estate. For more information see the website at Greater Property Group.
Bitcoin Well Contact Information
For investor information, please contact:
10142 82 Avenue NW
Edmonton, AB T6E 1Z4
Adam O’Brien, President & CEO or
Dave Bradley, Chief Revenue Officer
Tel: 1 888 711 3866
Myles Dougan, Director of Investor Relations
Tel: 587 982 2769
For media queries and further information, please contact:
Karen Smola, Director of Marketing
Tel: 587 735 1570
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Reader Advisory / Forward-Looking Statements
Statements in this press release regarding Bitcoin Well which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. In making the forward looking statements in this news release, the Company has applied several material assumptions. Except as required by law, Bitcoin Well does not intend to update any changes to such forward-looking statements except in accordance with applicable securities laws.