Irvine, CA, March 03, 2021 (GLOBE NEWSWIRE) – FDCTech, Inc. (“FDC” or “Company”, OTCQB: FDCT), a fintech company with a complete range of FX technology and business solutions, announced today that it accepts Bitcoin (BTC) as a customer payment option. This initiative enables non-US customers to seamlessly pay technology and software development fees while avoiding the financial intermediaries and transaction fees associated with paying in local currencies. To those customers who choose to pay in Bitcoin, FDC will offer discounts for all invoices over ten thousand (10,000 USD). The simplicity of cross-border payments via BTC also reduces the set-up time for customers outside the United States.
The company sees several benefits of using BTC as a payment method – faster payment, reduced repayments and reduced transaction fees. The total transaction fees can increase to 4% of the invoice amount if they are paid by bank card via a third party. Furthermore, the company can avoid the cost of managing multiple foreign currency accounts for customers outside the United States. As more and more customers adopt and accept cryptocurrency, the company expects that cash flow will benefit from faster settlement and significantly reduced credit risks as bitcoin payments require funds to be in digital wallets at the time of payment.
The company expects to expand its services in developing economies where the uncertainty in Covid provides the potential for currency volatility. For companies operating in these countries, the use of bitcoin, a digital currency with a general settlement, offers an attractive alternative to holding currency balances that may be subject to unfavorable movements in local currencies.
FDCTech is a company based in the USA and as such has most of its liquid assets in US dollars in an FDIC-insured institution.
FDCTech, Inc. (“FDC”), formerly known as Forex Development Corporation, is a US-based, fully integrated financial technology company. FDC delivers trading technology solutions to foreign exchange market participants who want access to retail and institutional spot markets.
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Some of the statements in this press release may be forward-looking statements or statements about future expectations based on currently available information. Such statements are, of course, subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to differ materially from those expected from such statements. The Company makes no warranties, express or implied, as to the accuracy, completeness or updated status of such forward-looking statements or information from third parties. Therefore, the company and its affiliates will in no way be liable to anyone for any decision made or action taken in connection with the information and / or statements in this press release or any related damages.