Midpoint Holdings Ltd.

TSX VENTURE : MPT


Midpoint Holdings Ltd.

June 03, 2014 10:02 ET

Midpoint Adds Two New Currencies to Its Payments Platform

Australian Dollar and New Zealand Dollar added to growing list of currencies

TORONTO, ONTARIO--(Marketwired - June 3, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Midpoint Holdings Ltd. ("Midpoint") (TSX VENTURE:MPT) is pleased to announce that its wholly-owned operating subsidiary, Midpoint & Transfer Ltd., based in the United Kingdom has added two new currencies. Midpoint, which operates the world's first true peer to peer foreign currency payments service, has added the Australian Dollar and New Zealand Dollar to its matching (netting) platform. It currently offers the service in: Canadian Dollar (CAD), US Dollar (USD), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Danish Krone (DKK), Norwegian Krone (NOK) and Swedish Krona (SEK).

John Booth, Chairman & CEO of Midpoint, said, "Following the launch of the Scandinavian currencies in May, we are pleased to add the Australian and New Zealand Dollar currencies to our platform. These new currencies further help bolster the Midpoint offering with our first launch in the southern hemisphere.

Australia and New Zealand are key to Midpoint's expansion and now these markets will help provide cheaper and transparent cross border payments to millions more people. We are constantly looking at new geographies and will launch additional currencies soon."

Following over 300% growth in transaction volume in Q3 ended March 31 2014, Midpoint reported a further 24% increase in monthly trades in May.

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 and has neither approved nor disapproved of the contents of this press release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint's Management's Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

Contact Information

  • Midpoint Holdings Ltd.
    The Exchange Tower
    130 King Street West, Suite 3680
    Toronto, ON M5X 1B1

    John G. Booth
    Chairman & CEO
    +44 (020) 220 6382

    Marc Henderson
    Director
    +1 (416) 214 9910