Midpoint Provides Corporate Update

LONDON, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Midpoint Holdings Ltd (TSXV: MPT) (Frankfurt: 8MH1) ("Midpoint" or the "Company") is pleased to announce that it has successfully completed a seasonal promotional offer with fixed low fees for all existing and new clients, which resulted in increased monthly transaction volumes and new client engagement. During the limited durational period of the promotion, Midpoint clients both existing and new, were entitled to receive a fixed 30bps Midpoint fee for all foreign exchange transactions above $5,000 or equivalent currency that were processed on the Midpoint platform. As a result, the Company saw increased order flow and inbound customer inquiries.     

Derek Ivany, President and CEO of Midpoint noted, “We are very pleased with the results of our seasonal holiday promotional campaign with increased client acquisition rate”. During the month of December 2021, Midpoint processed over 11 million dollars and garnered more new clients in December than the preceding 6 months. Midpoint’s contract with Avios through its longstanding arrangement with British Airways and IAG Group terminated on 31^st December 2021. David Wong, Chairman of Midpoint added, “We have shown that our team can handle a significant uptick in transactional flow without sacrificing our core values of superlative customer service and rigorous KYC diligence.”

Additionally, the Company continues to work on the finalization of its launch of CAD, USD, and Euro virtual accounts. As previously disclosed, Midpoint multi-currency virtual accounts will enable Midpoint clients to have locally domiciled currency accounts in Canadian and U.S. dollars, Euros, and British pounds. The Company is currently conducting live transaction testing with selected clients and a formal launch of these virtual accounts is imminent. Further, the Company is hopeful that it will provide another level of utility to current and prospective Midpoint clientele.   

About Midpoint

Headquartered in London, UK, Midpoint is an FCA authorized payments institution specializing in cross-border payments and foreign exchange. SMEs, overseas professionals, property owners, foreign students, individuals, and anyone involved in international payments use Midpoint for transparent, multi-party, multi-currency services. Midpoint currently handles transactions in 27 currencies with the ability to collect and transfer across over 200 countries. This highly secure platform provides customers with the most cost-effective F.X. at the Midpoint of the interbank buy/sell rate, therefore removing the spread as well as hidden costs and fees.
Midpoint Holdings Limited is listed on the TSX Venture Exchange and cross-listed on the Frankfurt Stock Exchange.

For information on Midpoint, please visit: https://www.midpoint.com.

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Forward-looking information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing Midpoint and its business and affairs, readers should refer to Midpoint’s Management’s Discussion and Analysis. Midpoint undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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