GD Entertainment and Technology Inc (GDET)

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GD Entertainment and Technology Inc. Set to Launch its Cryptocurrency ATM Machines

Nov. 29, 2018 -- GD Entertainment and Technology (OTC PINK: GDET) ("GDET" or the "Company"), is proud to announce that it has successfully registered with the Financial Crimes Enforcement Network (FINCEN) as a Money Services Business (MSB) in the state of Texas. With this strategic registration completed, the company is now launch ready for their Cryptocurrency ATM program in designated cities throughout Texas.

According to www.coinatmradar.com, there is an estimated 156 cryptocurrency ATM units currently operating in Texas out of the total 3,650 nationwide with operators reporting an average of $30,000 in monthly transactions. This figure is based on a reported $25,000-$100,000 transactional volume per machine.

Company CEO Anil Idnani commented, “The state of Texas is a regulatory friendly state to launch our Cryptocurrency ATM program, combined with the reported median transaction fee of $30,000/month, our strategy is to place a 100 machines over the next two years.

As cryptocurrencies are gaining popularity and becoming widely adopted, it is predicted that the Bitcoin ATM market will skyrocket within five years. While at the moment the Bitcoin ATM market values $16.3 million (in 2017, this indicator was $6.8 million), experts expect it to achieve $145 million in value by 2023.

At present, the Company is working to achieve the following near-term objectives:

- Negotiate favorable terms for rent or revenue sharing with local Texas businesses looking to partner with us
- Retain a brand consulting firm to lead in the design and customization of the stock Cryptocurrency ATM units
- Complete initial purchase order of Cryptocurrency ATMS with GDET’s preferred vendor, Genesis Coin
- Register with additional, strategically-chosen states through the Financial Crimes Enforcement Network (FINCEN)

GDET shareholders can expect new updates very soon as the Company enters an aggressive phase of operational development over the near term.