GreenCoinX is the World’s First Crypto Currency Requiring User Identification
Toronto, Ontario, February 3, 2016 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS:GRNBF) (“GreenBank”) announces that GreenCoinX has upgraded its crypto currency identification to full “Know Your Client” (“KYC”) standards. GreenCoinX is the world’s first and only crypto currency that requires users to be identified before usage. All GreenCoinX users will now meet the same identification standards as the banking community.
“The promise of crypto currency was always the fast and inexpensive transfer of funds worldwide, while bypassing the banking system. Until now this has been impeded by identity concerns. Now GreenCoinX has made this promise a reality by its KYC capability” said Danny Wettreich, CEO. “In sharp contrast to bitcoin and all other crypto currencies, the new KYC standard of GreenCoinX alleviates the concerns of both governments and users that crooks and terrorists can use crypto currency to hide their activities. All GreenCoinX users have to be fully identified before usage, so bad actors will not use GreenCoinX” Danny Wettreich continued.
GreenBank will shortly be launching the GreenCoinX ecosystem which encompasses an identifiable crypto currency, a free online wallet, and a free online crypto currency exchange. GreenCoinX has also addressed currency stability via a treasury function, and blockchain longevity by way of the non-profit Digital Foundation which ensures miner rewards over the next 145 years. The first government in the world to welcome GreenCoinX is the Isle of Man, whose Minister for Economic Development said “GreenCoinX has the potential to make a significant difference in the digital currency arena”.
In order to use GreenCoinX an online wallet has to be opened at www.xgcwallet.org. When initially opening a GreenCoinX wallet, users complete an online KYC verification process which only takes a few minutes. KYC verification is processed by www.KYCGlobal.net which is the exclusive KYC portal for GreenCoinX. Users upload copies of a passport and other identification documents and, when approved, receive a unique KYC identification number which is used to complete the wallet opening procedure. The same KYC verification process is completed with the GreenCoinX mobile wallet for Android devices, and the GreenCoinX technical wallet which is used by miners and retailers.
GreenBank is a Canadian public company (trading symbols CSE:GBC and OTCMKTS:GRNBF). Its 80% subsidiary GreenCoinX Inc. is a software company that has developed the world’s first crypto currency requiring user identification. GreenCoinX meets the same identification standards as the banking community, and makes the promise of crypto currency a reality by alleviating concerns that crooks and terrorists can use crypto currency to hide their activities. GreenBank’s 100% subsidiary GreenBank Financial Inc. is an investment bank.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., raising additional capital and the future development of of GreenCoinX. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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