MIAMI BEACH, Fla., Nov. 02, 2017 (GLOBE NEWSWIRE) -- Favored, Inc. (OTC PINK:FVRD) announced today the company is working on Ethereum R&D to integrate it onto BitTraderPro.com.
Favored, Inc., along with its wholly owned subsidiary Empire Mobile Studios, are at present beta testing Bitcoin on the company’s trading exchange platform. Management believes that Ethereum (“ETH”) has extremely large potential as it grows in use and popularity.
At present, the market cap of Bitcoin is in the $105 Billion range, while Ethereum currently trails behind at a market cap currently in the $29 Billion range. Year to date, Ethereum's growth is greater than 2,600% which is more than triple Bitcoin growth YTD.
As stated by Reuters, “the Enterprise Ethereum Alliance (EEA) will work to "enhance the privacy, security and scalability of the Ethereum blockchain, making it better suited to business applications," according to the founding companies. Members of the 30-strong group also include Accenture Plc, Banco Santander, BP Plc, Credit Suisse Group AG, UBS Group AG, Banco Bilbao Vizcaya Argentaria, ING Groep NV, Bank of New York Mellon Corp, Thomson Reuters Corp (and startups ConsenSys and BlockApps.”
“We intend to integrate the ability to trade additional digital currencies and tokens to the exchange as various currencies grow in popularity and demand. Working to add Ethereum at this early stage of our development of the trading exchange makes perfect sense given the enthusiasm of large, well-known companies have for the Ethereum blockchain,” stated Craig Coaches, President of Favored Inc.
In other corporate news, Favored Inc. is working to reduce the number of outstanding shares of the company’s common stock. The company looks forward to providing an update and additional details in the near future.
About Favored, Inc.
Favored, Inc. is a publicly traded (OTC PINK:FVRD) diversified holding company, which seeks opportunities to acquire, develop, and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. Favored seeks to develop a diverse array of operating subsidiaries.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
Website: http://www.favoredinc.com/
Phone: 800-214-3109
Email: info@favoredinc.com