FORT LEE, N.J., Sept. 26, 2018 (GLOBE NEWSWIRE) -- GD Entertainment and Technology (OTC: GDET) (“GDET” or the “Company”) is excited to announce the Company’s aggressive entrance into the Cryptocurrency ATM sector. To facilitate this move, the Company has officially retained BitAML, a nationally recognized leader in compliance advisory services.
GDET CEO Anil Idnani commented, “Our mission at GDET is to become the unambiguous leader in the blockchain space. We started this company with aggressive positioning in the mining and mining services segment and have been adapting and growing into a more diversified strategic player, leveraging our experience and deep understanding of emerging trends in the Blockchain marketplace. This latest move to enter the Crypto ATM space follows tightly on the heels of our acquisition of DreamCard, each representing significant added growth potential. In addition, BitAML is the most prominent firm in the space, and it will be a pleasure to work with them to obtain our license for the operation of ATMs through the Financial Crimes Enforcement Network (“FINCEN”).”
At present, the Company is working to achieve the following near-term objectives:
- Obtain full AML/KYC Compliance (Anti-Money Laundering, Know-Your-Customer)
- Receive conditional approval for MSB though FINCEN (Money Services Businesses)
- Secure relationship with reputable Cryptocurrency ATM vendor
- Locate pilot location for initial ATM services launch
Management sees enormous potential for growth in the Crypto ATM space. Leveraging both its relationship with BitAML and its ability to secure an inventory of top-tier ATM models through its network of strategic partners, the Company has developed a strategy to expand quickly once it achieves initial traction, with the goal of becoming one of the largest Cryptocurrency ATM networks in the country.
Company officials are already working with overseas strategic partners as well as prominent domestic suppliers to establish equipment availability and pricing terms. Once FINCEN compliance has been achieved, an initial equipment order will be placed.
“GDET has become a thoughtful leader in the Cryptocurrency space with a strong commitment to transparency, security, and compliance that truly puts the consumer first,” said Joe Ciccolo, founder and president of Cryptocurrency compliance advisory firm BitAML. “Those shared values will guide our hand as we provide strategic advisory support to GDET, allowing them to reach more consumers in this growing marketplace.”
GDET shareholders can expect new updates very soon as the Company continues to execute an aggressive phase of operational development and expansion.
About GDET
GD Entertainment & Technology, also known as GDET, is a results-driven, blockchain-oriented company focused on becoming a premier Cryptocurrency mining facility. GDET will build and manage a Cryptocurrency mining colocation and mining facility that is client-focused and dedicated to creating a new standard in the Blockchain space based on security and transparency. GDET has also developed a strong relationship with suppliers overseas to ensure future purchasing.
Safe Harbor Provision
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review GD Entertainment and Technology annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.
Contact:
GD Entertainment and Technology
732-851-3756
anil@gdet.co
www.gdet.co
1 Bridge Plaza
2nd Floor
Fort Lee, NJ 07024