Midpoint Holdings Ltd.
TSX VENTURE : MPT

Midpoint Holdings Ltd.

December 07, 2017 11:33 ET

Midpoint Receives Hong Kong Money Service Operator License

LONDON, UNITED KINGDOM--(Marketwired - Dec. 7, 2017) - Midpoint Holdings Ltd. (TSX VENTURE:MPT) ("Midpoint" or the "Company") is pleased to announce that is has received a Money Service Operator (MSO) License from the Hong Kong Customs and Excise Department for its recently formed subsidiary Midpoint Hong Kong Ltd.

"With regulatory cover to conduct cross-border payments and money service business in the UK and Europe, Canada and Hong Kong, the Company is well positioned for international expansion in an increasingly globalized and regulated industry" said David Wong, Chairman and CEO.

Brad Lemkus, Operations Director added "We have recently expanded our operations team. The current operations and client support team speaks 11 languages including English, French, Spanish, Italian, Dutch, German, Afrikaans, Mandarin, Cantonese, Bahasa and Hindi. We look forward to building a truly international team capable of supporting the growth ambitions of the business".

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

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

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