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Next Group Holdings, Inc. Partners With Arbitrade Exchange Inc. in Joint Venture to Launch the World's First Prepaid Gift Card With Cryptocurrency Capability
PR NewswireJanuary 17, 2018
Cryptocurrency Marketplace Will Become Available to Consumers Via Co-Branded Cryptocards Launched Through Company's Distribution Network of 30,000+ Bodegas/Convenience Stores
MIAMI, Jan 17, 2018 /PRNewswire/ -- Next Group Holdings, Inc. (NXGH) today announced that the Company has signed a Letter of Intent with Arbitrade Exchange Inc. to form a new Joint Venture in order to launch a co-branded Mio and Arbitrade prepaid Gift Card to become available at 30,000 SDI Next U.S. retail locations. Arbitrade will serve as the clearinghouse and exchange for Cryptocurrency transactions linked to the Company's new co-branded Mio-Arbitrade prepaid cryptocard product. The launch of a new co-branded Mio-Arbitrade Cryptocard will make access to the rapidly growing Cryptocurrency market possible for customers at more than 30,000 U.S. retail bodega/convenience store locations, via the Company's SDI Next subsidiary, which holds distribution rights to the retail locations (SDI Next Distribution LLC). The co-branded Mio-Arbitrade cards, available in denominations from $25 to $1,000, would be the first such products which can facilitate the purchase and transfer of Cryptocurrency (virtual currency), in addition to all the current attributes of the current Mio prepaid card, including:
Buying and trading Cryptocurrencies on the Arbitrade Exchange, launching soon;
Purchasing gift cards for top retailers, restaurants and more, and
Purchasing goods and services through Arbitrade's Arbipay platform.
"This is a monumental first for this industry," said Adiv Baruch, Next Group Holdings Chief Strategy Officer, and a renowned global technology strategist. "While the Cryptocurrency market continues to grow at an unprecedented rate, up until now trading in that marketplace has eluded the majority of consumers, most especially those who are not tapped into traditional banking. This introduction of a prepaid card that carries all the benefits of our Mio card -- plus a secure gateway to the Cryptocurrency market -- will change the way millions of people manage their finances, from everyday purchases, to transferring assets, to investment in their futures."
AI
