IRVINE, Calif., Feb. 26, 2016 (GLOBE NEWSWIRE) -- Global Future City Holding Inc. (OTCQB:FTCY) (the “Company”) is pleased to announce that its wholly-owned subsidiary, GX-Life Global, Inc., has entered into a Technology License Agreement providing for the license of technology supporting the creation and trading of the GX Coin digital currency. Great Coin, Inc. is wholly owned by officers and directors of the Company (the “Technology License”).
Great Coin, Inc. has recently advised the Company that it intends to register as a Money Service Business with the United States Department of Treasury (Financial Crimes Enforcement Network). Once registered with FINCEN, GX Coin may be traded in up to 10 states of the United States, including the state of California as a digital currency. Great Coin is also finalizing the technical and regulatory ability to trade in Asia. Under the Technology License, qualifying members of the Company’s marketing program will be able to trade GX Coin on a proprietary platform licensed under the Technology License.
Ning Liu, CEO and President of FTCY stated, “We believe that introduction of GX Coin as an additional incentive for our marketing program provides us with a competitive advantage in reaching industry sales leaders. We are in contact with marketing leaders throughout the world who are increasingly expressing an interest and frequently signing up to our marketing program. We will update the market as the technology is finalized and we work toward trading.”
About Global Future City Holding Inc.
Global Future City Holding Inc. is a holding company focused on implementing an EB-5 immigrant investor program for foreign investors who are interested in acquiring lawful permanent residence in the United States, and the marketing and deployment of its loyalty-based membership program. The Company plans to focus its initial efforts on acquiring qualified investment projects that are aligned with its EB-5 Regional Center and launching the digital currency-based membership program. Additional information on the Company may be viewed at http://www.gf.city.
About GX-Life Global, Inc.
GX-Life Global is in the process of developing a robust, scalable platform to support its membership program throughout the world. GX-Life Global is supported by “GX-Coins” which is a digital currency that functions as a store of value and a medium of exchange. GX-Life Global plans to deploy the GX-Coins it acquires from Great Coin by distributing them to members of their membership program community as loyalty points for the members’ participation in the membership program. Members of GX-Life Global will be able to redeem their status points, reward points, and status reward points for GX-Coin at 100% of their points’ dollar value. Additionally, users of GX-Coin will be able to use their GX-Coins to purchase products offered by GX-Life Global.
About Great Coin, Inc.
Great Coin, Inc., a Nevada corporation, is a technology company in the process of developing “Great Coin” or “GX-Coin” which is a digital currency that functions as a store of value and a medium of exchange. Great Coin intends for the GX-Coins to be freely transferable on an online trading platform, and the price of a GX-Coin once on the trading platform will be determined by market forces through trading activity. As a digital currency, GX-Coin’s ownership and transfer will be recorded on an encrypted, secured distributed ledger system using technology similar to the distributed ledger technology used for trading digital currencies.
Information about Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the Company pursuing digital currency, which could have fluctuations in demand and pricing, the introduction and impact of new competitive products or digital currency, the Company's ability to acquire and maintain customer strategic business relationships in the MLM space, growth in targeted markets, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting the Company, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Global Future City Holding Inc. Michael R. Dunn CFO/COO Office: (949) 769-3536 Email: email@example.com
Source: Global Future City Holding, Inc.