LAS VEGAS, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Black Cactus Global (OTC Markets:BLGI) (the “Company) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with NSB Holdings ehf (“NSB”) of Iceland. The particulars of the MOU map out the plan for Black Cactus to become the majority stakeholder of a bank (“the Bank”) in Iceland for the purposes of creating the first fully digital bank
The acquisition of the Bank is a major step forward in Black Cactus Global’s strategic plan to become the first fully integrated digital financial institution with Blockchain technology as its operating foundation. The Company, in cooperation with NSB, will convert and rapidly develop the world’s first full-service Digital Bank based on Blockchain Technology.
Iceland boasts a fast moving, modern and competitive economy with a transparent and efficient regulatory system. NSB is a registered holding company in Iceland with offices in the capital of Reykjavik. Iceland is a member of the European Free Trade Association and also holds an extensive Free Trade Agreement with China.
The Bank of interest is fully licensed to operate in Iceland and, after approval, also operate within the European Union (EU) and the expanded area of the European Economic Area (EEA), which makes this an excellent opportunity to expand our operations to an international scale under comprehensive and efficient legislation. Black Cactus has plans to bring its specialized Blockchain applications, digital products and banking services to a wide array of commercial and governmental clients throughout the EU, North America and beyond.
About the Company
Black Cactus Global is a technology development company with a focus on Blockchain, machine learning, cryptocurrency, and the Internet of Things. We partner with large corporations and specialised groups on global development and consulting projects in our key development areas of Fintech, digital media, financial services, cyber security, and healthcare.
Our mission is to pioneer the application of Blockchain and overlapping technologies to protect IP and the security of data and financial transactions.
For further information please visit our website at: www.blackcactusglobal.com
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Source: Black Cactus Global