MIAMI, Jan 17, 2018 /PRNewswire/ -- Next Group Holdings, Inc. (OTCQB: NXGH) today announced that the Company has signed a Letter of Intent with Arbitrade Exchange Inc. to form a new Joint Venture in order to launch a co-branded Mio and Arbitrade prepaid Gift Card to become available at 30,000 SDI Next U.S. retail locations. Arbitrade will serve as the clearinghouse and exchange for Cryptocurrency transactions linked to the Company's new co-branded Mio-Arbitrade prepaid cryptocard product. The launch of a new co-branded Mio-Arbitrade Cryptocard will make access to the rapidly growing Cryptocurrency market possible for customers at more than 30,000 U.S. retail bodega/convenience store locations, via the Company's SDI Next subsidiary, which holds distribution rights to the retail locations (SDI Next Distribution LLC). The co-branded Mio-Arbitrade cards, available in denominations from $25 to $1,000, would be the first such products which can facilitate the purchase and transfer of Cryptocurrency (virtual currency), in addition to all the current attributes of the current Mio prepaid card, including:
- Buying and trading Cryptocurrencies on the Arbitrade Exchange, launching soon;
- Purchasing gift cards for top retailers, restaurants and more, and
- Purchasing goods and services through Arbitrade's Arbipay platform.
"This is a monumental first for this industry," said Adiv Baruch, Next Group Holdings Chief Strategy Officer, and a renowned global technology strategist. "While the Cryptocurrency market continues to grow at an unprecedented rate, up until now trading in that marketplace has eluded the majority of consumers, most especially those who are not tapped into traditional banking. This introduction of a prepaid card that carries all the benefits of our Mio card -- plus a secure gateway to the Cryptocurrency market -- will change the way millions of people manage their finances, from everyday purchases, to transferring assets, to investment in their futures."
Arbitrade's Len Schutzman remarked, "We are excited to be partnering with Next Group in making the Cryptocurrency market accessible to the masses via the Company's point of sale system launching in 30,000+ retail locations which serve the very consumers who already manage their daily commerce outside the traditional fiat banking system. Our new co-branded Mio-Arbitrade prepaid Gift Card will allow unbanked/underbanked people – more than 100 million in the U.S. alone – to purchase, move assets freely and securely, and to participate in the world's fastest-growing currency market. This is an important first step in Arbitrade's acceptance into the Cryptocurrency market and developing an easier way for people to buy into cryptocurrencies and get out of Cryptocurrencies without the high costs associated to these transactions currently."
About Next Group Holdings, Inc.
NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions, including wireless MVNO, to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. NXGH's web address is http://www.nextgroupholdings.com
Arbitrade Exchange Inc. is a Canadian based company that is currently headquartered in Grand Bend Ontario, which will soon be opening their global operations for business as an all in one merchant bank and trading platform for the Cryptocurrency sector. Arbitrade provides the sector the most innovative platform released to date with proprietary technologies that sets a new industry standard in Cryptocurrency banking and trading solutions. Arbitrade's current principal executive offices are located at 38 Main St. Grand Bend, Ontario, Canada N0M 1T0. Arbitrade's website is https://arbitrade.io/
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SOURCE Next Group Holdings, Inc.