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Virtual Crypto Technologies (OTC:VRCP) distribution agreement to pay immediate dividends

Tony Zerucha

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Virtual Crypto Technologies Ltd. (OTC:VRCP), developer of software and hardware for cryptocurrency via POS systems, ATMs, tablets, PCs and mobile devices, has signed an exclusive distribution agreement with third party company Virtual Crypto SA to sell Virtual Crypto’s products in the Southern African Region. 

The agreement will generate immediate revenue for Virtual Crypto, the company said in a release.  The distributor has committed to acquiring both hardware and software solutions, a significant purchase.  Virtual Crypto will also receive ongoing royalties and support fees in this six-figure minimum multi-year agreement. 

The company recently completed development of their fourth crypto solution for the B2B and B2C marketplace and has piloted deployments and business deal in the Middle East, since their January launch. 

The agreement covers South Africa, United Republic of Tanzania, Zambia and Zimbabwe,Angola, Botswana, Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, and Swaziland.

“Cryptocurrency is increasingly popular in the Southern African Region, which is a strong emerging market,” Virtual Crypto CEO Alon Dayan said. “Cryptocurrency provides investors and businesses with an opportunity to diversify their portfolio. In addition, the Virtual Crypto solutions offer businesses and consumers a secure payment alternative with real-time availability and broad accessibility.”

One barrier Virtual Crypto says it overcomes is the typical delay in completing cryptocurrency transactions. Their proprietary technology simultaneously scans multiple exchanges to provide rates in real-time. 

“We felt that by creating a solution that was both platform and cryptocurrency agnostic, the masses can employ the advantages of utilizing cryptocurrency for all of their needs,” Mr. Dayan added. “While we’ve already demonstrated success in our solutions in other markets, we believe the advantages will be even greater in locations, such as the developing countries within Southern Africa, where local economies experience volatility.” 

The material is not to be construed as an offer or a recommendation to buy or sell a security. See full Terms of Service.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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