[July 17, 2014]

Ciphrex Selects Leading Bitcoin Law Firm as Corporate Counsel

Ciphrex Corp, an emerging technology startup based in California and incorporated in Delaware, has selected the prestigious law firm of Perkins Coie LLP as their corporate legal counsel. Perkins Coie will assist Ciphrex in strategic legal areas including corporate structuring, licensing contracts and intellectual property.

Eric Lombrozo, Ciphrex's Co-CEO and Chief Technology Officer, commented, "After an extensive search of legal advice options, we found that Perkins Coie is not only a prominent law firm with a national footprint and experience in technology startups, they are also the worldwide leader in virtual currency laws and regulations." Peter Townshend, a veteran Perkins Coie attorney, was named Ciphrex's corporate counsel.

Ciphrex is a provider of enterrise-grade software specialized in the cryptographic transaction processing (CTP) space. As part of the immediate restructuring, Ciphrex Corp will be acquiring Ciphrex LLC - a California company at the forefront of CTP technology - for an undisclosed amount. Ciphrex LLC's intellectual property will be assigned to Ciphrex Corp.

Ciphrex's core technology uses Service Oriented Architecture (SOA) and its software portfolio includes CoinVault™ and CoinSocket™. CoinVault™ is a cutting-edge cryptocoin wallet application supporting offline keychain generation, offline signing, hierarchical deterministic keys, multi-device synchronization, m-of-n multisignature account management, and multiple blockchains including Bitcoin, Litecoin and others. CoinSocket™ offers a set of runtime services and complete application development platform with high-level APIs.

Eric Lombrozo will be exhibiting and presenting demos of Ciphrex's products at the North American Bitcoin Conference at McCormick Place in Chicago this weekend - July 19-20.

"Perkins Coie is thrilled to team up with Ciphrex and to further extend our law firm's participation in the highly innovative field of virtual currencies," Townshend said. He added, "Ciphrex is a leading bitcoin software provider and we look forward to helping them with their legal needs as they advance their pioneering technologies."

Founded in 1912, Perkins Coie has 19 offices across the United States and Asia providing a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to small, independent start-ups, as well as public and not-for-profit organizations.

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