Midpoint Launches CAD, USD and Euro Virtual Accounts

LONDON, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Midpoint Holdings Ltd. (TSXV: MPT) (“Midpoint” or the “Company”) is pleased to announce that the Company will be launching Canadian dollars, U.S. Dollars and Euro local virtual accounts in January 2022.

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. Clients will be able to send and receive these currencies locally in a ‘client named account’ and avoid paying any international transfer fees. “Going forwards, Midpoint clients will be able to send and receive local payments such as ACH/Fedwire, SEPA, FasterPayment, and Interac, while still enjoying the Midpoint F.X. rate,” said David Wong, Chairman of Midpoint.

Separately the Company has accepted the resignation of Mr. John D’Agostino from its Board of Directors, where he served as an unpaid independent director having been nominated and appointed by shareholders. His experience and contribution to the Company was crucial and the Company thanks him for his service. He noted: “The Company is now in its best position and footing since its founding, and I feel it is the right time for me to step down to focus on my other ventures.”

About Midpoint

Headquartered in London, UK, Midpoint is an FCA authorized payments institutions 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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