Blockchain Venture Capital Inc. partners with the Trillium Automobile Dealers Association as the Official Exclusive Digital Currency
TORONTO, Jan. 18, 2022 /CNW/ - Blockchain Venture Capital Inc. (BVCI) has signed a partnership with the Trillium Automobile Dealers Association (TADA), the New Car Dealers of Ontario, to introduce their digital blockchain payment system, BVCPay and present their stablecoin, CADT, as the Official Exclusive Digital Currency of the TADA.
BVCPay is a digital payment solution that allows for payments to take place over BVCI's proprietary blockchain rail using CADT, Canada's first and only stablecoin backed 1:1 with support from a schedule 1 bank owned trust company. BVCI's proprietary blockchain (BVCChain), boasts one of the highest transactions per second rates, allowing for fast, peer-to-peer payments with next generation speed and safety with effectively zero cost on either side of the payment transaction. Fees are only introduced when purchasing and/or redeeming CADT for fiat CAD$. The fees are less than most traditional payments systems (e.g. international wire, EFT, credit cards, Western Union).
"BVCI's innovation can improve the efficiency of the payment sector and significantly reduce the payment cost for users. CADT, a digital stable currency with strong compliance, allows users to make real-time payments worry-free. We believe that the digital currency and digital wallets will grow rapidly in the payment sector. BVCI expects to also build more use cases, including cross-border trade, local payment network, supply chain finance and digital asset creations and servicing." says Tony Tian, President and CEO of KVB Financial Canada Inc.
BVCPay is the complete solution composed of: 1) BVC-Chain, our innovative blockchain at 5,000 TPS; 2) KVB Wallet powered by BVCI, our digital wallet solution (available soon) branded by KVB Financial Canada Inc., BVCI's EMD licensed selling agent; and 3) CADT, our industry leading stable coin backed 1:1 with fiat currency in CAD$.
"The TADA and our signature products such as ACE and the Canadian International AutoShow always strive to be at the forefront of innovation and technology. The rise of digital payment systems, blockchain technology and stable coins in particular on decentralized rails is something the world cannot ignore. It's coming and having BVCI as a corporate sponsor o our International Trade Workers' Program proves that our 1,100 dealer members across Ontario are a segment of the economy that will be one of the first to embrace these new economic tools", says Todd Bourgon, Executive Director of the TADA.
As part of this new deal, BVCPay becomes the official sponsor of the TADA's International Trade Workers' Program. The newly minted program of the TADA will see dealerships benefitting from overseas talent that can come to Canada to work at Ontario dealerships. The cost of registration for a single worker is $12,500 CAD. When a dealership uses CADT to pay for the worker's registration, that dealership will save 500 CADT per worker registered (500 CADT = $500 CAD). This offer is made to the first 150 workers registered. For more information about the program, please visit www.tada.ca
"Cars are the second largest purchase for most, next to a home that a Canadian consumer will make in their lifetime. Working together with TADA is not only an obvious choice but a logical one based on consumer and economic trends, and the fact that TADA and its 1,100 dealer members are a very important market segment for us", explains Richard Zhou, CEO and Founder of BVCI.
BVCI will also be present with a corporate booth at the Automotive Conference and Expo (ACE) to be held in Niagara Falls Ontario in the Spring of 2022 and will be recognized as a 2022 Silver Associate Member of the Association.
This news release may contain "forward-looking information" (as defined in applicable Canadian securities legislation). Forward-looking information is based on expectations, estimates and projections, and it addresses future events and conditions. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.
About BVCI Blockchain Venture Capital Inc. (BVCI)
BVCI is a financial services company with extensive digital asset experience incorporated in Ontario in January 2018. BVCI is a provider of an innovative technology infrastructure to participants in the emerging blockchain and distributed ledger technology industry. Instrumental to BVCI's business and growth strategy is BVC Chain, a proprietary blockchain platform and distributed ledger technology which serves as a platform and infrastructure for BvcPay as well as the potential future development of a multitude of blockchain platform-based solutions, products and services. Collectively, BVC Chain and BvcPay strategically position BVCI to capture the full value chain resulting from the transitioning of data and other financial assets to a blockchain platform and ledger, and the new paradigm of conducting business that utilize such technologies. Visit https://www.bvcadt.com/ for more information.
About KVB Financial Canada Inc.
KVB Financial Canada Inc. is a wholly owned subsidiary of KVB Global. KVB Global is a financial services company that specializes in providing diversified financial products. Its products include global settlement and payment, corporate FX management, securities investment, wealth management, as well as fin-tech system integration. Since 2001, KVB has established multiple licensed presences in Auckland, Sydney, Melbourne, Toronto, Hong Kong and Taipei. Visit https://www.kvbgc.com/en/ for more information.
SOURCE Blockchain Venture Capital Inc.
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