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The cryptocurrency critics never saw it coming: the announcement of Facebook’s Libra coin put the final nail in the coffin of the “crypto winter” and sent the price of Bitcoin to its highest level in more than a year. It’s been a spectacular recovery.

The number of cryptocurrency wallets is rising steadily. It’s up to 36 million so far, a huge leap from around 6.7 million in Q1 of 2016. That number will surely get a major boost as Facebook rolls out its own digital coin. Remember that Facebook has 2.38 billion users, and most of them don’t have a crypto wallet yet.

Cryptocurrency adoption is also getting a serious upgrade because of a company called Cathio, which is designing and building a blockchain-based payment and remittance platform for use by the Catholic community. We’re potentially talking about billions of people across the planet soon to be exposed to the ease, convenience, and transparency of blockchain-enabled payments and money transfers.

Cathio is a very early mover in the faith-based payment space, and they’ve already secured a number of high-profile clients in the Catholic community, including The Dominican Foundation, Christendom College, The Trinitarian Order, and The Center for Evangelical Catholicism. Not only will Cathio be their go-to solution for domestic and cross-border payments, but they’ll also use it for donations to faith-focused causes.

Of course, just like Facebook had to hire a team of experts to develop their Libra project, Cathio needed a premier blockchain-building company to build out a project of this size and scope. Very few companies can provide this specific service, and almost none have a track record of successfully developing branded, proprietary blockchains and digital tokens.

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The obvious choice for Cathio was ICOx Innovations Inc. (TSX.V: ICOX, OTCQB: ICOX), as they specialize in creating blockchain-based economies for large, established companies and organizations. ICOx is already doing this for KODAKOne, BitRail, and GunBroker.com, so Cathio had every reason to be confident in ICOx’s level of experience and industry know-how.

Matthew Marcolini, the CEO of Cathio, selected ICOx Innovations because they’re a known leader in building blockchain solutions and working with brands to design, build, and manage their digital currencies – and that includes compliance with the Byzantine maze of laws and regulations governing the rollout of a new cryptocurrency.

In return for providing these services for Cathio, ICOx will be eligible to receive up to $2 million, will be eligible for ongoing transaction and licensing fees once the platform goes live and maintain an equity stake in Cathio. And to sweeten the deal, Cathio has just signed a deal with Kambista S.A.C., the first FinTech currency exchange platform in Peru, which could potentially provide a massive payment system linking Latin America to the United States and other countries.

Thus, the ICOx development team will be taking the blockchain to new frontiers, all while advancing Cathio’s mission of reducing costs in getting funds to Peru and other nations, facilitating the movement of funds from U.S. non-profits to support important faith-based initiatives and missionary work, and leveraging the power of the blockchain to support the good work of the Church.

Best Regards,

James Davis
FutureMoneyTrends.com

 

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Disclaimer ICOx Innovations Inc. (the “Company”) for Forward-Looking Statements
This article contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the author believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this article include statements regarding: the number of cryptocurrency wallets that will be created as a result of the introduction of Facebook’s digital coin; the effect of Cathio on the adoption of cryptocurrency; the number of people who will have access to blockchain technology as a result of Cathio’s efforts; the likelihood of The Dominican Foundation, Christendom College, The Trinitarian Order, The Center for Evangelical Catholicism and other faith-based organizations using Cathio for payment processing and donations; the Company’s expected remuneration and equity stake for services provided to Cathio; the ability of Kambista S.A.C. to provide a payment system linking Latin America to the United States and other countries; and the Company’s role in advancing blockchain technology through the Cathio project and the corresponding benefits to Cathio and the Catholic Church.. The forward-looking statements reflect the author’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the author believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include: changes in growth and size of cryptocurrency and blockchain technology market; attitude of corporations toward cryptocurrency and blockchain; business and consumer acceptance and adoption of cryptocurrency as a viable means of payment globally and in Latin America; the extent to which blockchain technology will be internationally implemented; the continued growth and success of Kambista and Cathio; potential changes for retail transactions involving cryptocurrency; the preferences of members of the Catholic Church to use app-based payment methods; changes in market conditions and other factors beyond the control of the Company.

Legal Notice:
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.

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