WTIA Announces STO with Partner MEDSIS to Fuel Global Rollout and Formally Launch Long-Awaited KFinancial.
MEDSiS International announced today the formal establishment of KFinancial and the plans for a STO (Security Token Offering) in Singapore on May 1, 2020 with partner WTIA. This announcement comes after previous press releases of a partnership between both entities focussed on providing solutions for MEDSiS' contracts in Brazil, Argentina, and around the world. The establishment of KFinancial is the culmination of a strategy that was announced by MEDSiS in December 2018 as the vehicle to encompass all of the MEDSiS payments programs.
"KFinancial has been part of our plans for years now, and this final step with WTIA allows us to bring our global payments opportunities to the masses through the initial STO, further strengthening our partnership with WTIA." - Joshua Dax Cabrera, CEO of MEDSiS
The two companies established the joint venture company, KFIN WTIA PTE, in Singapore to finalize the vehicle not only for their partnership, but also for the STO. While expectations were previously set by some on the STO revolving around "Maxwell Stablecoin", both companies made headlines by announcing that the STO would provide existing investors and token holders the direct rights to more than $3 billion in projected revenue over the contract lengths, allowing the existing payments programs and partnerships with companies like the Vision Group and Payments 2.0 to be foundational in the existing payments programs held by MEDSiS around the world.
"KFIN WTIA will become the entity that brings our partnership to the world. With the STO, we can add a new level of confidence as we focus on our strategies and job creation in Argentina, Brazil, and beyond." - Chairman Keun-Young Kim, WTIA"When we announced Maxwell it was always with an STO strategy in mind, but our entire business model was built on traditional payments programs, not on cryptocurrency. KFinancial and the STO with WTIA allow us to finally bring our entire payments ecosystem and revenue stream to investors everywhere in an open and regulated way," says Joshua Cabrera. As the partners build toward the release of the new joint White Paper associated with the STO, the focus turns to the programs in Argentina and Brazil as foundational pieces to the MEDSiS global strategy. With KFinancial becoming the stand-alone payments and fintech division for MEDSiS and assigning revenue and not equity toward the STO, shareholders are now able to realize direct access to revenues without previously anticipated equity dilution. With WTIA already making first funding steps into the KFIN WTIA entity, the Korean blockchain and token specialists demonstrate their commitment to the success of the global programs. The partnership with MEDSiS and WTIA continues to take shape as contracts, financials, strategies, pilot program results, funding, and strategic partnerships become publicly available through the upcoming KFinancial White Paper. As of now, both companies vow that providing direct rights to the more than $3 billion USD in projected contracted revenue is just the beginning of things to come as they build toward the May 1 STO.