CLIC Technology Submits Application for Treasury Department FinCEN Registration For Its Cryptocurrency Processing Platform
South Florida fintech company also seeks federal and state licensures to offer money transmission services and begins process of applying for NY BIT License
AVENTURA, Fla., March 28, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- As federal and state regulators begin to embrace the over $100 billion cryptocurrency market, CLIC Technology, Inc. (OTC Pink: CLCI) ("the Company") continues to solidify its position as the cryptocurrency processing platform of choice among retailers and merchants across the country through various federal and state licensing efforts. The South Florida fintech company is currently registered as a "Money Services Business" with the U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN) and in several additional jurisdictions in the United States, and has begun the process of applying for licenses to offer money transmission services as well.
Additionally, CLIC Technology is also being considered for a NY BIT License, a business license issued by the New York State Department of Financial Services (NYDFS) to virtual currency firms. Introduced in August 2015, BIT Licenses are considered one of the most difficult virtual currency licenses to obtain at the state level.
"At CLIC Technology, we take our responsibility seriously to provide secure financial transactions," said CLIC Technology CEO Roman Bond. "It's not just currency changing hands, but people's investments and dreams. More importantly, we believe that cryptocurrency can be processed quickly without sacrificing security and are fully dedicated to working with regulators to continuously assure merchants, consumers, and governments around the world that our software and services go above and beyond current protocols and standards."
Experts forecast the web wallet market to grow from over $100 billion in 2017 to $250 billion by 2024.
According to Pew Trusts, more than 46 percent of U.S. consumers, or 114 million adults, report having made a mobile payment within the last year. CLIC Technology's cutting-edge cryptocurrency platform provides a bridge to another form of digital payment, looking to make accepting blockchain currency like Bitcoin easier for local merchants and entrepreneurs across the globe without the cost of chargebacks and high fees. When completed, the Company's CLIC Pay and CLIC Wallet software platforms promise to provide merchants a hassle-free way to securely process blockchain payments within 24 hours in local currency, while allowing consumers to replenish their cryptocurrency as quickly and efficiently as swiping a debit or credit card.
About CLIC Technology, Inc.:
The Company, a "Financial Technology" company, is the developer and marketer of new, cutting-edge blockchain products and services. It has created a revolutionary "crypto-payment gateway system" that allows consumers to use cryptocurrency to make routine purchases online and that enables merchants to accept crypto payments and receive immediate settlements in traditional fiat currencies. Market introduction of the new crypto-payment gateway system and related services is planned to occur in a phased rollout in the United States and other major markets in the coming months.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events, or otherwise.
CLIC TECHNOLOGY, INC.