VANCOUVER, British Columbia, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Cuba Ventures Corp. (TSX-V:CUV)
(Frankfurt:IJA2) (OTCBB:MPSFF) (the “Company”) Fintech Division - is pleased to announce that it has signed
a definitive agreement (“DA”) with Vesilen Investments for its a revolutionary Blockchain-based mobile application
called Revolupay® and corresponding web based system, to target Cuba’s USD 3.4 Billion remittance market, the USD $750 Million
Cuban private sector and Caribbean tourism industry. Connected with the structure will be the proprietary cryptocurrency ₡CU Coin
for intended use in the multibillion tourism markets of the Caribbean and Cuba. Blockchain technology has the prospects to be
highly disruptive in the multi-billion dollar remittance market and cumbersome 11 currency Caribbean currency exchange markets. The
Company plans to be the first to implement a blockchain-based platform specifically for the Cuban & Caribbean markets. Cuba
Ventures has signed a DA with Vesilen Investments (“Vesilen”) for co-development of this Blockchain platform and Revolupay®
app.
PDF rationalization of Revolupay® & ₡CU Coin
Current Stage of Development of Blockchain-based Revolupay® &
₡CU Coin:
- Internal CUV and external Vesilen software engineer team assembled with project approved, physical programming center elected
and project currently underway.
- Signed DA with company insider Vesilen Investments for co-development of the Blockchain platform and
Revolupay® app.
- Primary data mining center located in the Bahamas.
- Meetings underway with significant conduit banks in North America and Europe.
- DA with Vesilen Investments includes a payment of 100,000 CAD divided into to two equal amounts. Initial 50K
CAD immediately and, 50K upon the successful sending of currency through the Revolupay® platform.
- Projected Beta version launch of Revolupay® for February 2018.
- Revolupay® name and design mark filed with Canadian Intellectual Property Office
- Revolupay® name and design mark filed with U.S Patent and Trademark Office
- Revolupay® in the process of Trademark filing worldwide
- Registered all popular domain name iterations and www.CCUCoin.com
- Registered all popular domain name iterations and www.RevoluPay.com
- Shareholder & Investor blockchain disruptive technology deployment chronology website www.DisruptN.com with planned $10 billion markets for 2018.
About Vesilen Investments and DA to Develop Blockchain-backed Platform:
Vesilen Investments is a multimillion Euro European Holding company and a large strategic shareholder and
insider of Cuba Ventures Corp. The CEO of Vesilen Investments and the CEO of Cuba Ventures Corp have been acquainted for over 25
years. Within the Vesilen group are hotel properties and tech companies such as Booketea, Enjoysea.com, MyFullTrip, ESM Business
School and several other tech based entities. CUV software engineers have studied and approved the project and begun designing the
Data Mining architecture and preparing proprietary servers and hardware for the assignment, Cuba Ventures and Vesilen have now
signed the definitive agreement (“DA”) effective 24/11/2017, as to the cooperative development of Revolupay® and the ₡CU Coin
platform.
Blockchain-based Revolupay® Overview:
Shareholders are urged to review the PDF presentation.
Revolupay® will enable app users to:
- Receive remittances instantly from family, friends worldwide ($3.4 Billion annual market in Cuba)
- Allow Cuban Entrepreneurs to receive worldwide booking payments from future visitors & tourists ($750 million annual
market)
- Allow Cuban Entrepreneurs to transfer their digital wallet funds to other Cuban Revolupay® app users
- Allow tourists in Cuba to pay Cuban Entrepreneurs for their services
- Allow tourists, intending to visit Cuba, to add funds to their Revolupay® accounts for instant payments to Cuban private
businesses
- Allow Cubans to withdraw cash at Revolupay® approved local Cuban banks
- Revolupay® is to be accepted on all 432 websites operated by Travelucion, a Cuba Ventures wholly owned Travel Company,
allowing payment of tourism services to Cuba, with a probable secondary roll out across +800 third party, CUV management
controlled websites, covering 134 countries, including most of the Caribbean Islands.
₡CU Coin Cryptocurrency Overview:
- Developed in synergy with Revolupay® and the CubaFIN
lending platform, the ₡CU will be introduced as a world cryptocurrency which is exchange rate pegged against major currencies.
Initial rollout in the Bahamas and Cuba, then across the rest of the Caribbean.
- Impressive worldwide visitor numbers to the Caribbean and extreme complexity of 11 different Caribbean currencies should make
₡CU the preferred currency.
- ₡CU will provide a transparent platform permitting visitors to centralize payments while simultaneously creating a global
ecosystem of users from developed nations.
- Most visitors to the Caribbean emanate from industrialized high GDP nations. Targeting the Caribbean initiates an exciting
cycle of adopters, eventually resulting in world acceptance.
- Nurture the development of ₡CU currency to give the coin legitimacy and trust in the eyes of the public via the tourism
industry.
- Cuba Ventures Corp 432 websites with + 35 million visitors which will serve as an excellent platform to endorse the ₡CU on a
massive scale.
- CUV management control over 1200 additional websites, covering over 134 countries, with specific country name URLs, including
almost every island in the Caribbean (check www.Bahamas-VIP.com). The success of any cryptocurrency depends upon its exposure and target market. Cuba Ventures
feels that it has the tools to promote and market the ₡CU in the Caribbean travel and tourism visitor market and then on a
worldwide scale.
CubaFin Partner Updates:
As previously announced, due to the latest addition of Revolupay® and CCUCoin Cryptocurrency, the Company is
conscientiously finalizing the modified definitive agreements with Al-Fahim Technologies and Bhavnani Corporation. News on these
definitive agreements is forthcoming.
About Cuba Ventures Corp.:
Cuba Ventures Corp. is a publicly traded Canadian company capitalizing on the growth and unique opportunities in
the USD $3.5 billion per year Cuban travel and tourism industry. Travelucion, a wholly owned subsidiary, is a digital media and
marketing company which owns a vast portfolio of Cuba related websites and online portals providing Cuba travel information in up
to six languages, featuring individual web assets for Cuba's popular cities and towns, online booking solutions and online
reservations through proprietary software, catering to international visitors to Cuba. Travelucion's online travel division is a
duly licensed retail travel supplier handling millions of dollars in sales annually.
Cuba Ventures Corp has acquired an equity interest in a Florida, the USA domiciled, licensed and bonded travel
agency which specializes in travel to Cuba. This equity ownership permits the company and, its subsidiary Travelucion, to promote
U.S compliant travel packages to Americans citizens through its equity partner International Business & Travel Opportunities, LLC,
Fort Lauderdale, Florida, USA.
Travelucion's 432 Cuba focused multilingual websites generate over 35 million page-views per year, directing
traffic to the company's online booking and e-commerce sites. These online websites cover all facets of Cuba including over 80
travel destinations, hotels & resorts, bed & breakfast, tours, car rentals, restaurants, as well as Cuban culture, history, music,
celebrities, sports, medical treatments and more.
Cuba Ventures’ FinTech division is embracing world renowned entities to bring together a global force to
stimulate Cuba’s archaic economic systems. Financing of both internal and external debt, ₡CU Coin Cryptocurrency and Revolupay®
blockchain deployment across the all-important private enterprises and remittance industry are primary objectives of this division.
Finally, bridge loans for foreign enterprises who receive Cuban bank payment instruments will enable faster transactions and rapid
advances in the economy.
Cuba Ventures consulting division harnesses over 80 years of combined advisor experience in submitting and,
obtaining approval, for joint ventures, joint production agreements, and import/export permits for foreign enterprises. More
recently the company has taken a royalty approach for future agreements between third parties anxious to begin comercial operations
with Cuba and, the company’s Cuba Consulting Unit. Current contractual partnerships include Tyrval, a worldwide hotel industry
supplier. Cuba Ventures intends to augment the amount of financially beneficial consulting related businesses.
For further information on Cuba Ventures Corp. (TSX-V:CUV) or Travelucion visit the Company’s website at www.cubaventures.com or www.travelucion.com. The Company has 83,298,850 shares issued and outstanding.
CUBA VENTURES CORP.
STEVE MARSHALL
______________________________
Steve Marshall
CEO
For further information contact myself or:
Nick Findler
Cuba Ventures Corp.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cubaventures.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements
in this release, other than statements of historical facts, that address events or developments that management of the Company
expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments
may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could
cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and financing, and general economic, market or business conditions. Please
see the public filings of the Company at www.sedar.com for further information.
