Joining Forces:
MoneyTrac's Partners Sign JV to Supplement
Services to the Cannabis Industry
San Diego, CA -- March 27, 2018
-- InvestorsHub NewsWire -- Global Payout Inc. (OTCPink:
GOHE) (“Global”) is pleased to announce that its subsidiary
MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) announced today
that its partners, Integrated Compliance Solutions, LLC (ICS) and
Crypto Value Management Systems (CVMS) have formed a strategic
partnership to provide compliance and blockchain financial services
to the cannabis industry. MTRAC already has agreements in place
with both of these companies and expects this new relationship to
bring a great deal of resources and collaboration among all three
companies.
ICS, a
leader in the cannabis banking space, has partnered with CVMS
(ICCE.EXCHANGE) and their compliance blockchain ICCE (In-State
Crypto Commodity Exchange). The ICCE exchange enhances the ICS CRB
banking solutions suite by managing strong compliance and security
around the monitoring of incoming and outgoing payments, an
important element of the FINCEN guidelines for banking.
"The
agreement between ICS and CVMS really solidifies our network of
service offerings and allows MTRAC to work in full collaboration
with two companies that have very unique service
offerings," said MTRAC CEO Vanessa
Luna. "The integration of blockchain, crypto and compliance allows
MTRAC to provide a full-service solution to its large and growing
network of cannabis businesses in California."
Said
ICS CEO, Christopher Johnson: "We were looking for over a year for
the most advanced, safe, and secure blockchain to complement our
service offering. We found it. The ICCE Cannabis Exchange allows us
to support the CRB clients and provide an unmatched level of
compliance and reporting back to the bank. This solution also
reduces workload from the bank optimizing the entire solution set
for financial institutions."
About MoneyTrac
Technology
MoneyTrac
Technology, Inc.
(MTRAC) is a "New Age Technology Holding Company" offering a
full-service solution for alternative banking and electronic
financial marketplace with technology offerings including Payment
Platform, Blockchain, Crypto-Commodity Exchange, Compliance, POS,
E-Wallet, Mobile Application and Digital Payment Solutions for
businesses and companies in various "high-costs of banking"
industries. MTRAC offers additional suites of services ranging from
business development, sales and marketing, to digital and print
advertisement. We are One Network disrupting the status quo. It is
MTRAC'S creative vision to create a "The New Age of Currency" by
bringing innovative technology solutions to various industries and
providing the means for "Banking the Unbankable"
About Integrated Compliance
Solutions
ICS is the industry
leader in compliance software and innovative, cost effective
merchant payment solutions. Their experience in financial services
and payments technology allows them to apply the heightened federal
requirements to preferred providers that meet strict requirements.
The result: a competitive, complete, and stable set of services
that complement the merchant's goals. As a Seed to Bank
compliance partner,
ICS has simply been used by more banks, for longer, and more CRB
businesses than any one of their competitors in the space. Their
services are proven and well respected in the industry.
About Crypto Value Management System
Crypto
Value Management System, LLC's ("CVMS") mission is to present a new
kind of blockchain, that leverages the power of compliance, to
provide a fast, safe, and secure method of payment to the MRE
space. CVMS through its unique compliant approach to blockchain has
earned the approval from multiple banking partners in the MRE space
that provide the critical on boarding and off boarding of funds.
This model will provide a strong B2B exchange that will reduce
violent crime, illegal money, and other illicit
activities.
Unique
features of CVMS over competitors are: 1. CVMS is a commodity, not
a currency, so Money Transmitter Licensing and Money Service
Business licensing do not apply. The commodity is backed by the
cash deposit on a dollar for dollar basis, so there is not
fluctuation in the value like Bitcoin. Another key strength is that
each customer is fully vetted for "Know Your Customer"
requirements, rather than being anonymous like Bitcoin, so the
potential for money laundering or being used for illicit activity
is mitigated.
CVMS
solves a couple of really problems in the marijuana space. First,
CVMS solves the need for state taxing authorities and utility
providers to be paid electronically, rather than have duffle bags
full of cash show up at their facilities that they are not equipped
to handle and poses a significant security risk. Second, a key area
of focus from bank regulators is tracking that inventory sold in
stores was legally obtained. In a cash economy, it is difficult to
track the purchases and validate that inventory did not move across
state lines. With all participants in the CVMS ecosystem being
fully vetted for "KYC", CVMS helps banks track that inventory was
legally obtained.
Forward-Looking Statements Disclaimer:
This
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
In some cases, you can identify forward-looking statements by the
following words: "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "ongoing," "plan,"
"potential," "predict," "project," "should," "will," "would," or
the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results, and
will not
necessarily be accurate indications of the times at, or by, which
such performance or results will be achieved. Forward-looking
statements are based on information available at the time the
statements are made and involve known and unknown risks,
uncertainty and other factors that may cause our results, levels of
activity, performance or achievements to be materially different
from the information expressed or implied by the forward-looking
statements in this press release. This press release should be
considered in light of
all
filings of the Company that are contained in the Edgar Archives of
the Securities and Exchange Commission at www.sec.gov.
Public Relations and Media Contact:
Global
Payout
www.GlobalPayout.com
619.795.5810
Office
Information@GlobalPayout.com
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