We are on track for the launch of our Virtual StaXApp in July 2022 and the global roll-out of TheXchange and TurnCoin as per our timeline on turncoin.com.
As investors you can take confidence in this: Our Technology is the strongest part of TheXchange.
We are on track for delivery of StaXApp V1.0 Progressive WebApp for Sport and Music as per the current timeline.
The tech team implementing and testing the VirtualStaX platform has been expanded to 35 full-time programmers. The team has primarily grown through our partnership with development company Povio and UI design company iSoFlow.
We are finalizing the last steps required for integrating TheXchange globally with Circle Internet Payments, our treasury, and payment provider. Circle will enable VirtualStaX to accept payments globally through traditional payment channels such as Card and Bank transfers in addition to payments in Cryptocurrency.
Global integration of TheXchange platform with payment providers Circle and Silvergate bank to facilitate worldwide cross-border payments while abiding by new stricter money-transfer regulations was a major undertaking.
Furthering our jurisdictional compliance we welcome Frederick Kanyike to the team joining as an independent NED and MLRO in Gibraltar. Fred is the previous CEO of Juno Services, one of the largest fund administrators in Gibraltar and a subsidiary of the Gibraltar Stock Exchange (GSX) Group. Fred brings with him a wealth of knowledge and experience to TheXchange.
Josh Lawler, Partner at Zuber Lawler LLP has been instructed to represent TheXchange in the appeal process with Apple Inc. who is confident that Apple's In-App Purchases will not apply to the VirtualStaX App, and that using Apple Pay as an alternative payment method on the VirtualStaX App would be a likely solution.
May was a month of preparation and planning for the marketing department: reviewing content, optimizing the brand, intricately planning the coming campaigns for launch, and making sure that all of our initial content will be a powerful introduction to our brand as we begin to REALLY tell the world who we are.
With just a few days to tie up our 2022 Launch plan, the marketing team is looking forward to June when we will powerfully activate our socials, film our ambassadors across the US for our hero campaign, "OWN IT" and leverage our partners as we all work together to build momentum and excitement for the StaX App, because IT'S LAUNCH TIME!
In addition to Securitize acting as our FINRA digital securities transfer agent, TheXchange is in the process of partnering with Securitize as a broker-dealer, investment bank, and marketing agent for TurnCoin. Securitize will actively promote our Private Offering, as well as the launch of TurnCoin on the Secondary Market, to their database of over 200,000 accredited investors.
The TurnCoin team is in the process of finalizing all due diligence, compliance, and marketing plans with Securitize for this powerful collaboration.
We will be implementing a strong marketing campaign in conjunction with Securitize that involves media and distribution through Cheddar which reaches hundreds of millions of viewers. This will include TurnCoin being present for live feeds and media on the floor of the New York stock exchange, as well as billboard exposure at Times Square.
Cheddar Inc. is an American live streaming financial news network in the United States, who broadcasts live daily from the floor of the New York Stock Exchange (NYSE), Nasdaq, the Flatiron Building in New York City, and the White House lawn and briefing room in Washington, D.C. covering new products, technologies, and services.
MADISON SQUARE GARDENS
TurnCoin / VirtualStaX are entering into a long-term partnership with Madison Square Garden, “The World's Most Famous Arena" in New York, as well as its other holdings and venues.
The arena is home to the New York Knicks NBA team and the New York Rangers of the NHL. It is the site of many major concerts and special events, as well as a venue for college basketball games. MSG Entertainment is a world leader in live entertainment. The Company's portfolio of iconic venues includes New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theater; and The Chicago Theater.
We are in the process of establishing our first phase and group inside MSG to work with and launch VirtualStaX, which will include a substantial marketing campaign throughout all of MSG’s venues and media outlets. The Property to launch with will be announced shortly.
This partnership will create substantial exposure, monetization, and fan engagement for venues and stadiums. Once properly rolled out with MSG, we can repeat with additional stadiums and stadium owners and their management teams. There is nobody that has a more affluent fan base than MSG, and every top artist, basketball, and hockey team performs or plays through the Garden.
TURNCOIN - SECONDARY MARKETS
Our team of experts abroad, alongside management in South Africa, are working together in the vetting of suitable Secondary Market exchanges for TurnCoin to be listed on in addition to Securitize, and are currently in talks with the biggest global digital security exchanges. Due Diligence procedures will follow after thorough vetting procedures are completed by our Compliance and Legal teams. More to be shared on this as partnerships are confirmed.
TheXchange concluded the first funding round of the Primary Offering on 26 April 2022. This was a mandatory close of the round as per the timeline set out in our filing with the SEC.
Following recent partnership discussions with Securitize as broker-dealer and marketing agent for TurnCoin, the company will be launching the second private funding round in the Primary Offering which will serve the following two purposes:
- Conclusion of substantial institutional investment transactions already in process.
- Allow Securitize to raise funds for TurnCoin through the marketing and promoting of TurnCoin to their 200,000+ investors, in conjunction with our partnership with Madison Square Garden and marketing through Cheddar Inc. in Times Square.
This will allow top management to focus on pressing matters in preparation for launch whilst funds are raised in the background until the launch of the Secondary Market in October 2022.
We would like to thank all investors for assisting the Investor Relations team and diligently providing them with the required documentation to ensure that all investor profiles within the company and on Securitize are fully verified and remain compliant as per Rule 506(c) of Regulation D and Regulation S of the Securities Act under which TurnCoin is listed.
Please note that these requests are vital, not only for the company to remain compliant but also to ensure that we are fully prepared for all Due Diligence processes to follow in preparation for the onboarding of TurnCoin on additional Secondary Market exchanges. Please be aware that these Due Diligence procedures are extremely thorough and TurnCoin needs to ensure that every detail is in place in terms of requirements, to successfully list on these exchanges.
The compliance of your TurnCoin account will have an impact on the tradability of your TurnCoin when the Secondary Market launches. Therefore, please continue to be on the lookout for emails from the team and aim to assist them with requirements as promptly as possible.
Your patience with the process and willingness to comply is greatly appreciated.