LONDON, Aug. 15, 2018 /CNW/ - Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce the set-up of a subsidiary company in Malta via which it will own its investment shareholdings.
Fineqia Investments Limited has been established in Malta to hold the Company's growing portfolio of blockchain, fintech and cryptocurrency technology companies worldwide such as Estonian company Black Insurance, Malta-based IXL PremFina Ltd and the UK's Nivaura Ltd. The investments are adjunct to the Company's core business of placing debt and equity securities.
Malta, a European island country located close to Italy, was selected for its advanced regulatory framework that qualifies and regulates blockchain and cryptocurrency companies. Malta also benefits from its membership in the European Union (EU), whereby EU financial directives facilitate regulated business activities across its 28-member states.
"Malta ticks a lot of boxes as a pioneering crypto-friendly regime," said CEO Bundeep Singh Rangar. "Choosing a jurisdiction where the legal and regulatory framework is in sync with emerging technologies and new financial instruments is as important as selecting sound investment opportunities in the first place."
Malta, which uses English as one of its official languages, passed three laws this summer that signal ambitious changes to the country's legal system overseeing cryptocurrency-related businesses. The Malta Digital Innovation Authority Act (MDIA Act) established the Malta Digital Innovation Authority, which focuses on governance arrangements and certifies Distributed Ledged Technology (DLT) platforms for credibility and legal certainty to users.
The Innovative Technology Arrangement and Services Act (ITAS Act) deals with DLT arrangements and certifications of DLT platforms. It addresses the setting up of exchanges and other cryptocurrency related businesses such as identity verification services and electronic wallet providers. The Virtual Financial Assets Act (VFA Act) establishes the regulatory regime governing such companies as well as Initial Coin Offerings.
About Fineqia International
Fineqia International is a listed entity in Canada (CSE: FNQ), the US (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's corporate governance, culture, processes and relations by which the Company and its subsidiaries are controlled, directed and governed. It oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries and investments, including those propagating blockchain technologies. For more information visit: https://investors.fineqia.com/news.
Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) ("forward-looking statements"). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the "Company") believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement except to the extent required by applicable securities laws.
SOURCE Fineqia International Inc.