Life Clips Subsidiary Belfrics Announces Plans For Expansion; Opens Office in Bangalore India
AVENTURA, Fla., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its Belfrics subsidiary plans to increase its office footprint and significantly expand its workforce in India. Belfrics office in India is located at KMJ ARCADIA, #15, 2nd floor, Industrial Main Road, 5th Block Koramangala, Bangalore - 560 034. Belfrics expects as much as 30% of its cryptocurrency business could come from India, and its cryptocurrency platform includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Belrium (BEL), among others.
In August 2021 Life Clips acquired Malaysia-based Belfrics, and at the time, announced expansion plans to grow its cryptocurrency exchange and platform, along with its blockchain marketing pipeline. Belfrics has 10 operational offices in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, Bahrain and UAE, and is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia. India’s crypto market grew 600% over the past year, making the country one of the fastest growing cryptocurrency markets in central and southern Asia. As a result of this growth, Belfrics expects to generate more than 30% of its monthly revenue from India. Belfrics office in Bangalore should be the company’s largest office among its teams in Labuan, Kuala Lumpur, Nairobi, Kinondoni, Dubai, Abuja, and Singapore.
Praveen Kumar, CEO and Founder of Belfrics Group, said, “The new Belfrics office is designed to create a unique environment and ensure best-in-class services for its employees. Equipped with cutting-edge and fully integrated technology, the facility is designed to accommodate future needs, and is suitable for video conferencing for both collaborative and remote work, particularly post-pandemic." Mr. Kumar continued, "Our new Bangalore office supports our customers and reiterates our commitment to the Indian market and the cryptocurrency and blockchain industries. We see many enterprises in India taking the lead in technology advancements and staying ahead of the global market curve, which provides more business opportunities for us to invest in this market."
“Our additional office in Bangalore demonstrates our commitment to supporting Belfrics' growth as it expands its presence in both India and South Asia. Earlier this year, we acquired Belfrics because we believed in their vision to build a world-class cryptocurrency platform and blockchain solution. The market has responded even better than expected and we are expecting some supercharged growth from Belfrics.” Mr. Grinberg continued, “Our investment further signifies our long-term commitment and confidence in the brilliant future of this region. We couldn’t be more pleased with how things havebeen and where they are going.”
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which includes the Yuru voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by employers to raise awareness of employees’ mental health. Cognitive Apps’ Yuru is a 3-in-1 tool developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Yuru is available on Apple‘s App Store.
For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com
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This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.
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