Midpoint Holdings Ltd.
TSX VENTURE : MPT

Midpoint Holdings Ltd.

November 13, 2017 09:35 ET

Midpoint Holdings Ltd.: Launch of South African Rand (ZAR)

LONDON, UNITED KINGDOM--(Marketwired - Nov. 13, 2017) - Midpoint Holdings Ltd. (TSX VENTURE:MPT) ("Midpoint" or the "Company") is pleased to announce the launch of South African Rand (ZAR). The new product offering is in line with the Company's previously announced strategy of continuous delivery and rapid software release cycles.

David Wong, CEO of Midpoint noted, "We have received numerous requests from existing and potential customers to offer ZAR as there is significant demand for both in inbound and outbound payments. Our recently upgraded platform has facilitated our ability to proactively respond to our customer needs."

Brad Lemkus, Operations Director and a native South African added, "Due to the volatility of the Rand, there is a major opportunity to offer our customers a competitive service in the market. Our clients will be able to buy and sell ZAR against any of our currently available 22 currencies. The Rand is the first currency offered on the Midpoint platform that is subject to exchange control regulations."

"We will continue to add more functionality and currencies on our platform based on demand, client feedback, and, our assessment on specific currency corridors where we can carve out a niche marketplace," added David Wong.

About Midpoint

Headquartered in London, Midpoint is an FCA authorized payments institution with the world's first authentic peer-to-peer ('P2P') foreign exchange marketplace. SMEs, overseas professionals, property owners, foreign students, individuals and anyone involved in international payments, use Midpoint's US patent protected platform for transparent, multi-party, multi-currency services.

Midpoint is currently handling transactions in 23 currencies with the ability to collect and transfer across 72 countries. This highly secure platform provides customers with the most cost-effective FX at the midpoint of the interbank buy/sell rate therefore removing the spread as well as hidden costs and fees.

Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.

Neither the TSX Venture Exchange (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 news release.

Forward-looking information

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.

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.

Contact Information

  • Corbin Comishin
    Chief Financial Officer
    Midpoint Holdings Ltd.
    (250) 352-7667

    David Wong
    26 Finsbury Square
    EC2A 1DS
    London, United Kingdom
    +44 20 7448 3081