Innovative companies together to deliver next level support functionality to cannabis sector.
Universal Solar Technology, Inc. (OTCMKTS:UNSS)
HOUSTON, TEXAS, UNITED STATES, March 22, 2019 /EINPresswire.com/ — In a move that will expand its business plan and industry focus, Universal Solar Technology, Inc. (OTC Markets Pink: UNSS), has signed a Letter of Intent with the emerging online international banking firm Safe Bank, with headquarters in London, U.K./South Africa. The extensive plans of the partnership include banking and financial services products which will prove to be disruptive to some of the current traditional banking and financial services product offerings. However, the initial focus of the partnership will be the release of a crypto currency coin targeting the cannabis industry. The coin is labeled "Khrysos" after the Greek god of gold.
Safe Bank President and CEO, Marckensie Theresias says, “We believe that the fledgling cannabis industry is ripe to demonstrate the true abilities of fintech combined with blockchain technology. The ability to track every step of a transaction and attach the data to each currency unit will reduce the stress placed on all network participants including government agencies. This tracking capability will address the need for access to information that satisfies governmental and legal regulatory requirements. We are convinced that partnering with Universal Solar Technology will open doors to an enhanced strategy deployment approach available through the public markets and allow Safe Bank to fully develop this solution.”
Darrell A. Calloway, President of Universal Solar Technology, Inc. says of the budding partnership, “Universal Solar has been careful in its selection of the right opportunity to expand its industry reach. We were looking for an opportunity that had the right product and company personality. We believe Safe Bank brings an awesome opportunity in the banking industry and are convinced that its leadership has the personality that compliments the core values of Universal Solar.”
The release of Khrysos is planned for second quarter 2019.
Paul D. Landrew
Universal Solar Technology, Inc.
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Source: EIN Presswire