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ALYI Financial Reports Demonstrate Sustainability; Pending ICO Could Be Bigger Than Anticipated

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Dallas, Texas–(Newsfile Corp. – May 27, 2020) – Alternet Systems, Inc. (OTC Pink: ALYI) today released a management update to coincide with the recent publishing of its Q1 2020 financial report and 2019 annual financial report. Both reports show the company’s base revenue has not been impacted by the Covid-19 pandemic. The management update below includes confirmation of management’s confidence that the base revenue will continue throughout Q2 and Q3. ALYI management further confirms that its $300 million African electric mobility project also remains on track and to date, has not been impacted by the Covid-19 pandemic. The management update included in its entirety below includes a 2020 operational outlook that indicates a potential benefit that may result from the Covid-19 economic impact.

Management Update and 2020 Outlook

ALYI has a sound business strategy designed to sustain itself through an early development stage … even one impacted by the likes of the current Covid-19 pandemic. The company has a recurring consulting operation that carries the expenses of the base operation necessary to execute on the long-term business plan to introduce a paradigm shifting electric mobility business model. The recent 2019 annual financial report and the subsequent Q1 financial report both demonstrate ALYI’s sustainability. Now halfway through Q2, management is confident that the Q2 report will demonstrate the same and the company has every reason at this time to believe that Q3 will also be sustainably on track.

Management cautiously reports that the launch of ALYI’s paradigm shifting business model built on $300 million in electric mobility contracts in Africa is also on tract. With founding electric vehicle designs and prototypes already complete and ready for production, the current development phase involves the upcoming initial coin offering (ICO) to be launched by ALYI’s funding partner. The ICO is intended to fund ALYI electric vehicle production.

ALYI is well on track with its funding partner for the African electric mobility project. ALYI’s funding partner is optimistic that the Covid-19 impacted markets could benefit the upcoming ICO. The market-wide Q2 financial results coming out in July and August depicting the April and May Covid-19 economic impact could make the electric mobility ICO a standout opportunity. Our funding partner has already partitioned its own cryptocurrency on the Ethereum Blockchain. A pre ICO funding round is ready to launch and ICO details are being finalized.

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For more information and to stay up to date on the latest developments , please visit: http://www.alternetsystemsinc.com

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Alternet Systems, Inc. Contact:
Randell Torno
[email protected]
+1-800-713-0297

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

CryptoBlox Signs Amended & Restated Share Purchase Agreement to Acquire Blockchain Fintech

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Blockchain

Belgium RegTech Business Report 2024: Market to Grow by 24.8% to Surpass $300 Million this Year – Investment Opportunities to 2029

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Belgian RegTech Market

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Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees

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Kyrrex, a crypto ecosystem, is thrilled to announce its official launch in the United States. With operations now live in ten states, Kyrrex is poised to offer American users a platform for cryptocurrency trading, payments, and wallet management.

Kyrrex’s U.S. platform enables users to buy and trade cryptocurrencies with competitive commissions of just 0.2%, making crypto transactions efficient and cost-effective. Available in California, Colorado, Hawaii, Utah, Indiana, Wisconsin, Missouri, Montana, Massachusetts, and Wyoming, Kyrrex is rapidly expanding to other regions across the U.S.

“We’re incredibly excited to bring Kyrrex to the U.S. market,” said Mike Romanenko, CVO & Co-Founder at Kyrrex. “Our platform is designed to offer American users a safe and reliable way to manage all their crypto needs, and we look forward to growing our presence across the country.”

Why the U.S. Market Matters for European Crypto Companies

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The U.S. represents one of the largest and most dynamic crypto markets in the world. As of 2024, the U.S. accounts for over 25% of global cryptocurrency activity, driven by increasing institutional investment and mainstream adoption. The approval of Bitcoin exchange-traded Funds (ETFs) has boosted institutional interest significantly, signaling a shift toward greater acceptance of cryptocurrencies as full-fledged assets. By 2025, the U.S. crypto market is expected to see substantial growth, with estimates projecting a compound annual growth rate (CAGR) of over 12% in the sector, supported by both retail and institutional demand. For companies like Kyrrex, entering the U.S. market is a strategic move to expand user reach and tap into this rapidly evolving landscape, which offers vast potential for innovation and growth.

Kyrrex’s expansion into the U.S. is a testament to the company’s commitment to building a global crypto ecosystem that connects crypto-related services in one platform. By providing American users with access to a platform that offers crypto trading, wallet services, and low-fee purchases via debit and credit cards, Kyrrex is positioned to be a responsible player in the U.S. market. After six years of building a comprehensive crypto ecosystem, the company continues to lead with regulatory compliance. Today, Kyrrex’s achievements include:

  • Saint Vincent and the Grenadines: Kyrrex Limited is registered and recognized by the SVG Financial Services Authority, providing a foundation of trust and security;
  • Malta: REX, part of the Kyrrex ecosystem, obtained a prestigious VFA Class 4 license in 2021, allowing the platform to offer Virtual Financial Assets (VFA) services while maintaining the highest European regulatory standards;
  • United States: Kyrrex is registered with FinCEN as a Money Services Business (MSB) and is available in 10 U.S. states, including California, Massachusetts, and Utah.

Kyrrex ecosystem is also preparing for future regulatory changes by applying for a Class 3 MiCA (Markets in Crypto-Assets) license and an EMI (Electronic Money Institution) license in Malta and the U.K. Also, the company applied for an Investments Services license, which will enable brokerage services from and within Malta. This strategic approach ensures that Kyrrex will continue to offer secure and compliant services across multiple jurisdictions.

“Kyrrex’s entry into the U.S. comes at a critical time as regulations around cryptocurrency continue to evolve. The company’s commitment to regulatory compliance demonstrated through adherence to U.S. state law, positions Kyrrex as a responsible and reliable platform for American users. As part of Kyrrex’s mission, we will continue working closely with U.S. regulators to ensure that our platform remains compliant with the highest regulatory standards.”, stated Mr. Romanenko from Kyrrex.

With plans to expand into more states and enhance its service offerings, Kyrrex is dedicated to reshaping the operations of digital assets by providing users with secure, efficient, and regulated crypto solutions.

The post Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees appeared first on HIPTHER Alerts.

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