CUEN - Cuentas Announces Final Stage of Fintech and Mobile Product Development Targeting $18 billion North American Market
09 Novembre 2023 - 3:00PM
Cuentas, Inc. (Nasdaq: CUEN & CUENW), the leading developer of
a fully integrated telecommunications and financial ecosystem for
the unbanked and underbanked Hispanic market, provides an update on
its 'Cuentas 360' mobile app and its Mobile Fintech 'Cuentas App'
with first-to-market features, including Gamification and a
Tokenized Rewards program, and discloses a premium price per share
of $10 for the majority acquisition of World Health Energy
Holdings, Inc. (OTC: WHEN).
Cuentas provides an update on its integration of
digital and mobile protection software, branded as 'Cuentas 360.'
Management expects to launch its application in a selected end-user
test group in the next ninety days. The application will offer
advanced features compared to other benchmarked products, including
an advanced layer of security, scanning, and protection. 'Cuentas
360' is a core component of the software included in the previously
announced majority acquisition of WHEN Group.
WHEN Group (OTC Pink: WHEN) will become a
majority-owned subsidiary of Cuentas through a proposed share
exchange transaction. The proposed premium price per share has been
valued at $10 per CUEN share. Cuentas' Board of Directors has
approved the transaction, and the companies expect to complete it
by the year-end of 2023. The closing is contingent on several
factors, including, without limitation, the approval of Nasdaq and
the shareholders of Cuentas.
Simultaneously, Cuentas is launching an updated
version of its fintech 'Cuentas' mobile application. It will
include all its advanced financial services modules plus a new set
of first-to-market features. These features encompass a full
library of gaming apps and a highly advanced tokenized rewards
program. The tokens will be available for sharing from a 'Cuentas'
mobile app user to another 'Cuentas' mobile app user and to any
device-independent user, creating a true borderless ecosystem never
before launched in North America. This solution is supplied by an
exclusive commercial and technology partnership established by
Cuentas.
These products and advanced functionality,
including the games library and tokenized rewards, reaffirm
Cuenta's core belief in its fintech and telecommunications core.
The market for the 'Cuentas' financial services application
includes any mobile user, 'big box' retailers' customers, and the
opportunity to 'white label' the software for other mobile
operators or digital media companies. The mobile games market in
the United States is projected to reach a revenue of $18 billion
with a user penetration rate of 46.7% in 2023, according to
Statista.
Mr. Arik Meimoun, CEO of Cuentas, stated: "Our
technology and management team have created a revolutionary add-on
service in our Fintech app. We are ready to initiate limited user
testing, and we are diligently working to have these applications
ready for commercial distribution. The “Cuentas 360” app, provided
by WHEN, surpasses any other competitive application available in
the market today and will be bundled with our Cuentas Mobile
service and offered to other MVNOs. I will be announcing more
exciting news after our Q3 earnings report."
Mr Michael De Prado, Cofounder and President of
Cuentas, shared: “The exclusive strategic technology partner that
developed the gaming and tokenization rewards program for the
“Cuentas” app will allow us to launch these unique, real and robust
services in North America ahead of our competition. We have the
trust and support of technology leaders who clearly see the value
of our proprietary applications and the potential to become active
members in the Cuentas “sandbox”".
FOR IMMEDIATE RELEASE
About Cuentas
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is
creating an alternative financial ecosystem for the growing global
population who do not have access to traditional financial
alternatives. The Company’s proprietary technologies help to
integrate FinTech (Financial Technology), e-finance and e-commerce
services into solutions that deliver next generation digital
financial services to the unbanked, under-banked and underserved
populations nationally in the USA. The Cuentas Platform integrates
Cuentas Mobile, the Company’s Telecommunications solution, with its
core financial services offerings to help entire communities enter
the modern financial marketplace. Cuentas has launched its General
Purpose Reloadable (GPR) Card, which includes a digital wallet,
discounts for purchases at major physical and online retailers,
rewards, and the ability to purchase digital content. In Q1 of 2023
Cuentas launched Cuentas Casa, an alternative housing development
initiative that secured a 10-year supply agreement for a patented,
sustainable building system that will provide the bridge between
its technology solutions and the affordable housing market. Cuentas
has made investments to date in affordable housing projects for
over 450 apartments. LINK: https://cuentas.com
AND https://cuentasmobile.com
Forward-Looking Statements
This news release contains "forward-looking
statements," as that term is defined in section 27a of the United
States Securities Act of 1933, as amended, and section 21e of the
United States Securities Exchange Act of 1934, as amended. These
forward-looking statements involve substantial uncertainties and
risks and are based upon our current expectations, estimates and
projections and reflect our beliefs and assumptions based upon
information available to us at the date of this release. We caution
readers that forward-looking statements are predictions based on
our current expectations about future events. These forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties and assumptions that are difficult to
predict. Our actual results, performance or achievements could
differ materially from those expressed or implied by the
forward-looking statements as a result of a number of factors,
including, but not limited to, Nasdaq and shareholder approval of
the proposed transaction, our ability to manage our research and
development programs that are based on novel technologies, our
ability to successfully integrate WHEN operations and product
offerings, the sufficiency of working capital to realize our
business plans and our ability to raise additional capital, market
acceptance, the going concern qualification in our financial
statements, our ability to retain key employees, our competitors
developing better or cheaper alternatives to our products, risks
relating to legal proceedings against us and the risks and
uncertainties discussed under the heading "RISK FACTORS" in Item 1A
of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2022, and in our other filings with the Securities and
Exchange Commission. We undertake no obligation to revise or update
any forward-looking statement for any reason.
Investor Relations
Cuentas, Inc. 800-611-3622 info@cuentas.com
SOURCE: Cuentas, Inc.
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