Virtual Crypto Technologies (OTCQB: VRCP), through wholly-owned Israeli subsidiary Virtual Crypto Technologies Ltd., this morning announced that it will receive payment in the form of stock for the second milestone payment of $50,000 in accordance to the binding Memorandum of Understanding (“MOU”) with Chiron Refineries Ltd. (TASE: CHR) for distribution in the territory of Turkey and North Cyprus from January 2018. In lieu of cash, Virtual Crypto elected to accept payment in the form of 380,000 Chiron shares at the price of 0.55 NIS per share to be made following delivery of the company’s Beta version of the software for its tablet product to Chiron. The transaction is subject to the approval by the Tel Aviv Stock Exchange. “Our collaboration with Chiron continues to progress at an accelerated pace, largely driven by their desire to establish an early foothold in the Turkish and Cypriot markets. Preliminary testing of the modified software was extremely successful, and we expect to maintain this momentum, providing them with a next version we expect to be released in the following weeks,” Virtual Crypto CEO Alon Dayan stated in the news release.
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About Virtual Crypto Technologies Inc.
Virtual Crypto Technologies Inc., through its wholly owned Israeli subsidiary Virtual Crypto Technologies Ltd., has developed the NetoBitTrader, a proprietary, cryptographic algorithmic technology that it is able to confirm in real-time the purchase or sale of virtually any cryptocurrency. Virtual Crypto’s NetoBit products dramatically improve the cryptocurrency trading experience with faster execution and lower costs. Setting a new time-to-transaction standard, trading in seconds rather the industry norm of 20 minutes, allows NetoBit customers to enjoy the best crypto-exchange rate at the point of transaction. The company is marketing its NetoBit Trader software and hardware products for the purchase and sale of cryptocurrencies through ATMs, tablets, PCs and mobile devices. Virtual Crypto Technologies further believes that the ability to immediately confirm cryptocurrency transactions in real-time provides a significant competitive advantage in making the purchase and sale of cryptocurrencies user friendly. For more information, visit the company’s website at www.virtual-crypto.com.
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