September 2, 2018 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce an update on the progress of the Partnership Agreement with Northern Block, a Toronto-based blockchain product development company.
As per the terms of the agreement, Newt and Northern Block agree to work together and conduct joint blockchain design for a next generation blockchain-based Payment Platform. The technology teams from both sides have successfully accomplished the First Stage design of the Blockchain as a Service (BaaS) platform, which includes major architecture components and complete use case scenarios. The proposed platform will provide services designed specifically for partners and corporate clients, allowing them to leverage a distributed ledger with their existing systems.
Mathieu Glaude, President and CEO of Northern Block, shared his excitement about the project: “We are thrilled to be partnered with Newt to build a platform that can drastically improve how payment remittances are done cross-border”.
Jared Hong, Newt’s Director of Innovation and Technology, noted: “The completion of research project with Northern Block highlights Newt’s commitment to simplify business processes with technology. We are please to be partners with Toronto’s experts in blockchain architecture. Their work will be a significant component in Newt’s payment transfer hub.”
As per Mr. Glaude, Northern Block targets involvement with projects that have a real opportunity to re-shape entire industries. “Blockchain technologies have been proven to solve many pain points in the remittance space. Being able to provide flexibility and lower transaction costs will greatly benefit people that are tied to traditional remittance services. Working with Newt and their extensive network of partners leads us to believe that this project is set up to help millions of people transact and make payments, all backed by a distributed ledger.”
Newt Corporation is a Canadian Company that aims to be a Fintech Leader in money transfers, mobile and digital online payments, and closed-loop payment system. Utilizing the latest payment processing technologies, Newt provides merchants, consumers, and the unbanked population with cashless mobile payment services, rechargeable prepaid cards, and remittances. By choosing Newt Payment System, end customers will take the guessing game out of sending payments, and merchants will be empowered to provide seamless transactions in a more secure and efficient way. Newt’s next generation payment transfer solutions use new methods for international digital transfers. The company’s platform has been designed from the ground up for modern digital transfer with an ecosystem with full configurability, open API integration, and enhanced value-added services.
For more information visit www.GetNewt.com
About Northern Block
Northern Block, Inc. is a blockchain product development and consulting firm headquartered in Toronto, Canada. Founded in 2017 as a software development shop for Ethereum-based blockchain solutions, Northern Block evolved into a full-stack software development company, bringing a multitude of skills for building web solutions of various complexity, based on permissioned and public blockchains. Northern Block’s mission is to boost the technological progress and adoption of blockchain technology. Northern Block’s key advantage over traditional consulting companies is a deep involvement in product discovery and research during the whole product development lifecycle.
For more information visit www.northernblock.ca
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.