ARBITRADE, through its proprietary software and strategic partnerships, plans to be in all segments of the cryptocurrency business, including currency mining, trading (The ARBITRADE Exchange) gift cards, debit cards, money transfer and Point of Sale processing.
Arbitrade Ltd. Board of Directors Announces Having Secured in Excess of $10 Billion U.S. Dollars in Gold to Back Their Tokens
Confirmed Today by Arbitrade Ltd. Chairman and Chief Executive Officer Len Schutzman
BERMUDA and BEVERLY HILLS, CA, Nov. 05, 2018 (GLOBE NEWSWIRE), via NEWMEDIAWIRE Confirmed today, Len Schutzman, Chairman and Chief Executive Officer of Arbitrade Ltd., on behalf of the Board of Directors, announced today via its Agency of Record for Traditional and Non-Traditional Media, Creative Management Partners LLC (CMP), that Arbitrade Ltd. has received title of gold bullion stored at independent security facilities in the amount of 395,000 kgs with a current market value in excess of $10 Billion U.S.
Arbitrade has completed the required regulatory gold vaulting verification compliance; as mandated, an independent public accounting firm has verified the account in good standing, confirmed Safe Keeping Receipt “SKR” totaling 395,000 kgs of gold, by direct confirmation from the independent secure vaulting company.
Mr. Schutzman added: “Since most crypto-currencies are not backed by gold, this feature should make purchase of Arbitrade’s coins and tokens more attractive to the blockchain community”.
Arbitrade, through its proprietary software and strategic partnerships, plans to be in all segments of the crypto-currency business, including currency mining, trading (The Arbitrade Exchange), gift cards, debit cards, money transfer, and Point of Sale processing.
ABOUT ARBITRADE LTD
The Arbitrade Ltd. platform, a holistic end-to-end system, aims to provide crypto-currency access to everyone-from unbanked individuals to seasoned traders. Arbitrade Ltd. seeks to provide this access with a mobile platform via ArbiPay, as well as by physical card systems. Integrating this retail access with Arbitrade Exchange creates a unique on-ramp for everyone from experienced traders to people simply seeking to enter the financial markets.
Arbitrade Ltd new crypto-currency merchant exchange Intellectual Property (IP), proprietary software has unique worldwide licensing potential through strategic partnerships, as an example, but not limited to the sectors of Financial Retail Sales and Services, Consumer Products, Food and Beverage Companies, Technology, Computer Companies, Media Companies in all segments of the crypto-currency business, including mining and trading (THE ARBITRADE EXCHANGE) with emphasis on currency mining e.g. Gift Cards, Debit Cards, Money Transfers and Point of Sale Processing.
Robust crypto-currency mining facilities are required for transaction processing that support blockchain centric solutions, including those ArbiPay’s crypto-currency transactions at the retail level or large scale trading on the Arbitrade Exchange. Arbitrade Mining supports these objectives by garnering mining rewards and processing fees. Each of these businesses reinforce the others.
Arbitrade Ltd. intends to offer a complete suite of token services which include cryptocurrencies, altcoins, utility tokens, security tokens, asset tokens, reputation/reward tokens, and other dApp coins. The company is partnering with existing global infrastructure to provide the fastest gateway to all trading counterparties in 50+ countries. The integration of ArbitradeX (exchange) with the world’s largest trading counterparties is expected to provide liquidity, price transparency, high quality token/coin offerings, compliance and security through the world’s most recognized and trusted institutions.
In addition, Arbitrade is building, buying, and partnering to create a suite of Arbitrage Artificial Intelligence (“AI”) to provide an important multiplier to these business results, leveraging return, and allowing Arbitrade to acquire additional hard assets supporting Arbitrade crypto-currencies
About ARBITRADE LTD. Corporate Policy for Communications
Arbitrade Ltd. further announced their Corporate Policy for Communications by Chairman Schutzman:
Traditional and Non-Traditional Media, excluding Investor Relations will be under the engagement of Creative Management Partners LLC and it’s CEO Alan Morell.
Questions from “Coin Holders” are under the counsel of Stephen Braverman.
Questions from Security or Cypto Industry Advisory Firms are under the counsel of John MacNeil.
Arbitrade sets up its world headquarters; could bring hundreds of jobs
Scott Neil, Assistant Business Editor, Jun 28, 2018 (Royal Gazette). — Coin and cryptocurrency exchange Arbitrade has spoken of bringing hundreds of jobs to the island as it sets up its world headquarters and digital exchange in Victoria Hall, on Victoria Street.
The company plans to launch an initial coin offering this year, expected to be worth $500 million. Gold is to be used to back the cryptocurrency.
We feel that puts us (Arbitrade) in a unique position, said Mr Schutzman, a former top executive with PepsiCo. He spoke about Arbitrade training Bermudians and creating jobs, and said the company could eventually have 400 employees on the island.
Arbitrade was this morning set to hold a media conference call to detail progress towards establishing itself as a
world-class cryptocurrency exchange and coin company.
Arbitrade Completes the Purchase of the First of the Mandela Golden Hands Artifacts
A solid gold cast of Nelson Mandela’s iconic raised fist sold for $2 million
NEW YORK, May 11, 2018 (GLOBE NEWSWIRE) — Mr. Leonard Schutzman, Chairman and Chief Executive of Arbitrade, a leading coin and cryptocurrency exchange, said today the company had purchased the first item of the Nelson Mandela Golden Hands Collection. It was, he said, a solid gold cast of Mandela’s fist made during his lifetime by the Harmony Gold company at his home in Johannesburg in 1964.
Arbitrade had made the purchase in accordance with the contract drawn up with the seller, Mr. Malcolm Duncan, a South African businessman in March 2018, whereby the company had agreed to buy the iconic collection that includes 3 life size impressions of Mandela’s hand and 2 others of his palm and the fist. The contract calls for Arbitrade to buy one item of the collection at quarterly intervals throughout the course of this year. Each of the three remaining will cost $2.5 million.
Mr. Schutzman said, the company was pleased to have agreed to purchase the collection and was especially pleased to have acquired the 1964 cast of Mandela’s fist.
It’s interesting to note that when it came to casting the fist, Mandela insisted on placing his thumb next to his fingers as opposed to in front. He deemed it a less aggressive representation of his victory of apartheid. It was typical of the man.
Mr. Schutzman went on to say that apart from it being an expression of the company’s deep admiration for Mandela in this, the 100th anniversary year of his birth, it was also an expression of the company’s attachment to gold and all that South Africa has done through the years in supporting the gold industry.
We intend to acquire significant amounts of gold in the coming months in order to back the coins that Arbitrade will be producing. In acquiring the collection, we feel we had made an exceptional investment and that it is singularly appropriate that we should mark our company’s interest and our intentions through the acquisition of this iconic collection.
Mr. Schutzman said Arbitrade intends to show the fist in the coming weeks and even before taking possession of the entire collection, had pledged, with Mr. Duncan’s support, to exhibit the artifacts in various overseas capitals.
We want as many people as possible to see the collection and to recall Mandela and his life and times, he said.
Mr. Schutzman said, it was Harmony’s intention to make a full set of artifacts including the fist, to mark each of the 27 years Mandela has spent behind bars.
Our set is dedicated to 1964 and 1990, marking the year Mandela was first incarcerated on Robben Island and the year he walked through the prison gates a free man.
He confirmed the complete set and the fist had been authenticated by Harmony Gold and is in the possession of Arbitrade together with several photographs of Mandela making the cast at his home in Johannesburg. He said these artifacts are believed to be part of an only surviving set. All others having been destroyed by order of Nelson Mandela.
Arbitrade announced three new board members, May 2018, including a new Chief Financial Officer (CFO), Senior Vice President of Technology, and President of ArbiPay, a subsidiary of Arbitrade
UK, May 10, 2018 Crypto Buyers Club — Leonard Schutzman made the announcement via a Press Release at Globe Newswire. All three have a wealth of experience at leading consultancy, financial, and IT firms…
Arbitrade’s New Directors, their Profiles:
Brent M. Longnecker
Appointed as Chairman of the Compensation Committee
Longnecker has over 30 years of experience in consultancy, working with both public and private-sector organisations. His executive management consultancy, Longnecker, is well-reputed both domestically and internationally. His successes are evidenced in the fact that he was selected by Consulting Magazine in 2005 as one of the Top 25 Consultants in the US. Longnecker also serves on the board of the NACD
DeRodes boasts 46 years of IT experience with multi-national corporations and industry leaders such as:
- Target : Executive Vice President (EVP) and Chief Information Officer (CIO)
- The Home Depot : EVP and CIO
- Delta Airlines : CEO Delta Technology
- Citibank : CTO Global Cards
- USAA : VP Informational Technology (IT) & SVP Bank Operations
DeRodes is also experienced in cyber security, having advised the CIO of Homeland Security.
Transier is CEO of Transier Advisors, who provide advisory services to struggling companies. He also has experience in oil and gas exploration and production, having been co-founder of Endeavour International Corporation. He also has held a suite of other impressive positions, such as EVP and CFO of Ocean Energy, and various roles at KPMG.
Currently, he serves as Chairman of the Board and Director of Helix Energy Solutions Group.
Analysis of the 3 New Board Appointees – Arbitrade
This is a very impressive board indeed. Longnecker’s consultancy acumen will be invaluable in the negotiations such an ambitious operation such as Arbitrade will find themselves engaging in. DeRodes’ IT and Financial experience, especially his specific work at Citibank Global Cards, puts Arbitrade in an excellent position regarding its promised debit cards offerings. Transier’s experience in the natural resource sector should be fruitful to Arbitrade’s suite of precious metal-backed coins, such as Dignity (DIG), which will require the tendering and maintenance of large mining contracts.
There were also two additional senior management appointments for Arbitrade and Arbipay – the banking system subsidiary. Larry Meyer was appointed EVP and CFO of Arbitrade, and Mohammed Markatia (already a Director) has been announced as Senior VP of Technology. Meyer has a great deal of experience in financial management, having worked in senior positions at PepsiCo, Toys R Us, and most recently CEO of Uniqlo’s US branch.
Mandela Golden Hands Collection Sells for $10 Million USD at PDAC 2018 Conference
NEW YORK, March 16, 2018 (GLOBE NEWSWIRE) — The Board of Arbitrade, a new coin and cryptotoken currency exchange, has announced it will purchase the Nelson Mandela Golden Hands Collection. Made from 20 lbs, 99.999 of pure gold, it includes 3 life size impressions of Mandela’s hands and two others of his palm and fist. It was cast in 2002 by South Africa’s Harmony Gold mining group, one of the world’s leading gold producers, 12 years after Nelson Mandela was released from prison.
The seller, Malcolm Duncan, a South African businessman now living in Calgary, Canada, knew Mandela. He said that Harmony’s intention was to make one full set of gold artefacts consisting of a fist, a full hand and a palm impression of his right hand for each of the 27 years Mandela had spent behind bars. Duncan had purchased the sets dedicated to 1964 and 1990, marking the year Mandela was incarcerated and the year he walked out of the Pollsmoore prison gates a free man.
The set has been authenticated by Harmony Gold and is believed to be the only surviving set. The others, having been destroyed by order of Nelson Mandela.
An agreement was struck by Mr. Duncan and representatives of Arbitrade at the PDAC 2018 Conference, held in Toronto on March 4 – 8, 2018.
It was the first time the collection had been on display to the general public anywhere in the world since the Letter of Authenticity had been received from Harmony Gold and we felt it was singularly appropriate that we should have met to purchase the collection at the famed PDAC Conference, one of the largest gold and metals events in the world, said Arbitrade’s Chairman, Len Schutzman.
“The collection celebrates not only the remarkable contributions of Nelson Mandela to humanity each year, but also all that has been done by South Africa in supporting gold and the mining industry though the years. Moreover, our timing in buying the collection is especially significant since we are celebrating the 100th anniversary of Mandela’s birth in this unique way for the first time in North America,” said Mr Schutzman, who noted that the purchase of the Mandela collection will be paid for with Bitcoins.
It is our honor and privilege to celebrate the life and legacy of Nelson Mandela. As President Obama shared in one of his tributes to this great man – Mandela is a man who took history in his hands and bent the arc of the moral universe toward justice. In the global tour we shall be making with the collection, we will be celebrating his life, which has been a gift and a shining light for us all to remember and to follow for ages to come.
“Arbitrade’s management felt that these extraordinary artefacts served as a great representation for our company and that our announcement of this wonderful purchase will be the first of a series of announcements we shall be making in regard to gold that will back our cryptotoken currency, Dignity (DIG) which trades on Livecoin.net,” Mr. Schutzman said. “The company plans on orchestrating a global tour exhibiting the Golden Hands in National Museums around the world to celebrate the life and legacy of a man that meant so much to so many.”
In responding to Mr. Schutzman, it was said by Deputy Minister of Mineral Resources, Mr. GG Oliphant, MP,
The display and exhibition of the Mandela Golden Hands at the PDAC 2018 Conference was an appropriate moment to reflect the roots, strength and resilience of the South African mining industry. Nelson Mandela was a mineworker at some stage in his long walk to freedom, and was also later elected as the Honorary Life President of the National Union of Mineworkers in South Africa. It is therefore, within this context that, in his honour, we pay tribute to all mineworkers and ex-mineworkers around the globe who have sacrificed so much to produce gold and other mineral commodities over the years. It is therefore befitting that in this year, as we celebrate the centenary of Mandela’s birth, that we could display his actual handprints in gold as an embodiment of lasting peace and prosperity for our country. Our congratulations to Arbitrade in keeping Mandela’s legacy alive.
Mr. Nyameko Goso, South Africa’s Consul General in Toronto added,
We thank Arbitrade for helping us celebrate Nelson Mandela’s 100th Anniversary in this very special way and keeping alive his great legacy. At the same time, the purchase of this remarkable collection made of South African gold, is also a tribute to South Africa’s gold mining industry who have contributed so much to the gold market and mining over the many years.
Mr. Schutzman said Arbitrade will be inviting one person from each of the countries where they will be exhibiting the collection to join with them in celebrations at the museum, “I urge everyone to be looking out for our special release next week and to click on to our web page and provide their details. We hope that a great many people want to join us and come see for themselves the powerful and inspiring collection.”
Google takes stance on Crypto-currency a great perk for Arbitrade
Arbitrade to benefit and gain big advantage from Google ban of crypto-currency advertising on Google’s very own platform. The Google restrictions will help weed out the false, exploitive, risky and scrupulous crypto systems and managers. A safe and secure approach that the public at large will discover about Arbitrade will enhance the popularity of the Arbitrade Token Ingots and products. The timing for this approach by Google couldn’t be better and bodes well for Arbitrade Exchange Inc. and its plans.
Google bans crypto-currency adverts
U.K., March 14, 2018 (BBC NEWS) — Google has moved to ban crypto-currency advertising from its platforms. The move will affect promotional campaigns for initial coin offerings, Bitcoin exchanges, digital wallets to store the assets and trading advice. A notice said the policy would be introduced in June 2018, but did not give an explanation why.
The BBC understands that Google decided to act because it felt there was a lack of appropriate consumer protections for highly speculative and complex trades. It follows a similar move by Facebook in January 2018, which said many firms in the sector were acting in bad faith.
The value of Bitcoin, Ethereum and Ripple all dipped after the news emerged at about 04:00 GMT.
Ahead of the announcement, some users of Google’s AdWords service had reported a drop-off in the performance of their crypto-currency campaigns, although the tech giant denied having made any policy changes at that point.
Google has also said it will tighten its rules for ads relating to other financial products including spread betting and contracts-for-difference – in which sellers promise to provide compensation for an asset’s gain in value over a set period of time, and buyers to cover a loss.
It said AdWords users would have to be licensed by the relevant regulators in the countries they are targeting and be certified by Google itself.
This is all a good move, commented crypto-currency sceptic David Gerard, author of Attack of the 50 Foot Blockchain.
It’s about tackling the kinds of risky investments that verge on gambling.
“If you’re a proper trader or an accredited investor then fine – it means you’re rich and your money is your own problem. But these things shouldn’t be targeted at ordinary people.”
Google’s move followed a warning about crypto-currencies published by the International Monetary Fund’s managing director on Tuesday.
Christine Lagarde wrote
Money laundering and terrorist financing is only one dimension of the threat.
The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities.
We must welcome their potential but also recognise their risks
Arbitrade Exchange Inc. plans to acquire Cryptobontix Inc.
NEW YORK, March 07, 2018 (GLOBE NEWSWIRE) — Arbitrade, a cryptocurrency exchange and mining company, will acquire its partner company, Cryptobontix, in an acquisition that will be completed later this month. Arbitrade’s management, having built the board of both companies, will now operate both entities as one operation and will keep the same management and board of directors.
Cryptobontix Unity Ingot Token started the next generation of cryptocurrency The UNITY INGOT started a backbone of gold backed assets etc. Tomorrow’s digital generation started here with Unity and renamed to become the DIGNITY TOKEN.
Cryptobontix is the owner/operator of five digital cryptocurrencies that will be backed by gold, backed by other bullion, backed by other cryptocurrencies and backed by cryptocurrency mining. A spokesman for Cryptobontix explained it will tie traditional mining for bullion to cryptocurrency mining. The first four tokens in that which Cryptobontix refers to as their Ingot Family of Tokens is Dignity Token DIG (formerly Unity Ingot UNY), Namaste Token NAM, Orectic Token ORE, and Honor Token HNR. All four tokens will be backed by gold, silver, platinum and palladium respectively in the same order and have a locked dollar value of $1, $2, $3 and $4 consecutively. Each of these four tokens will commence operations starting with 5,000 mining rigs each and the company hopes to have all 20,000 in operation not later than May of this year. More details regarding Dignity (DIG), Namaste (NAM), Orectic (ORE) and Honor (HNR) are found in these front pages of CCC.
Describing its mining formula a spokesperson said the company uses 50% of daily mined proceeds which is used to pay for the backing of the token whether bullion or alternative cryptocurrencies; meanwhile, 20% is used to purchase more mining rigs – which creates a growth factor – while 15% is used to support the token’s markets and a further 15% is used for operational expenses.
The company expects to have over 1,500 cryptocurrency mining rigs operating online by April 1, 2018. At today’s earnings and current cryptocurrency prices, the 1,500 mining rigs have the potential to generate approximately $250,000 per month according to the company’s mining consultant. Given yesterday’s announcement, Arbitrade is aggressively seeking as many cryptocurrency mining rigs as possible to fulfill all 40,250 rigs planning to officially launch entire operation. Additional Source: www.CNBC.com
Arbitrade announces a Major Mining Infrastructure Agreement
Arbitrade announces the commencement of its Mining Infrastructure Agreement with Coin Miner LLC that will provide 65,000 new units over the next 24 months.
NEW YORK, March 05, 2018 (GLOBE NEWSWIRE) — Arbitrade Exchange Inc., a cryptocurrency merchant exchange and point of sale system, has announced the company has taken a major step forward in commencing its mining infrastructure. Arbitrade said it has engaged Coin Miner LLC to source and provide 65,000 new and used mining units over the next 24 months. Their proprietary G Series mining units that are configured with Nvidia and AMD chips achieving 275MH at 1,200 watts each, will amount to 50% of the units Arbitrade have agreed through this contract. The additional ASIC miners that Coin Miner sources will help cover a wide range of different Algorithms a source from a variety of manufacturers.
CoinMiner brings over five years’ experience in industrial sized mining operations, infrastructure and design. The company has offices in Cleveland Ohio, New York City, Miami and Shenzhen China and its global presence enables it to source equipment from manufacturers and suppliers with great facility. Arbitrade’s management were able to report they were able to fulfill its requirement with a speed and efficiency unmatched by any of the other companies they had contacted and said that CoinMiner has commenced sourcing the 65,000 units to fulfill the large contract Arbitrade is seeking to be completed in the next 24 months.
Meanwhile, Arbitrade reported it has commenced a 15-year lease agreement with Cryptotopic Inc., an Ontario company that will work with Coin Miner LLC, on behalf of Arbitrade, to build Canada’s largest mining facility in Watford, Ontario, Canada, which will house the 65,000 mining units. Coin Miner will design and oversee the additional infrastructure at the Watford facility which will consume 95MW of power.
The Cryptotopic Inc., Watford property is a 100,000 square foot industrial warehouse property with 16 additional acres that was previously a metals manufacturing facility. This lease agreement marks the first of four facilities Arbitrade plans to open over the next 36 months with Cryptotopic Inc. and Coin Miner LLC. These mining units will commence operations for Arbitrade’s decentralized exchange and also commence operations for Cryptobontix Inc.’s bullion and cryptocurrency mining backed tokens.
Arbitrade also reported it purchased 1,550 mining units from Coin Miner, Bitmain, Halong, Canada Computers and others to date which Coin Miner LLC will commence immediately at the new mining operations.
Len Schutzman, Chairman of Arbitrade, commented on the engagement of Coin Miner, said,
This agreement will significantly accelerate our growth and catapult Arbitrade into one of the top positions in the cryptocurrency mining sector.
Arbitrade appoints Mohammed A. Markatia to join its Board of Directors
A Pioneer in indirect channel distribution and Point of Sales Technology whose innovative strategies allow international service providers to reach millions of customers globally
NEW YORK, March 02, 2018 (GLOBE NEWSWIRE) — Arbitrade, a leading Coin / Crypto Currency exchange, has announced the appointment of Mohammed A. Markatia to its Board of Directors.
Mr. Markatia, as CEO of 24Seven Technologies, joins Arbitrade with over 30 years experience in retail, distribution and information technology and a proven track record of conceiving, developing and implementing customized Point of sale systems for ISOs, indirect retail channels, corporate c-stores, telecom providers, mobile operators and money remittance companies. His innovative strategies and comprehensive solutions allowed international service providers to reach millions of unbanked customers globally.
He founded and operated PaySmart America, Inc., the first widely installed point of sale system for Prepaid Products and Services. PaySmart had an installed base of 10,000+ retail locations, delivering more than 300 SKUs for over 50 vendors. He conceived POS Technology used and oversaw the development work and founded and operated the TSI Group of Companies, one of the largest distribution networks for prepaid products and services in North America with a physical presence in 17 major US cities, reaching over 50,000 retail locations and several locations serving the larger Canadian markets.
In announcing the appointment Leonard Schutzman, Chairman and CEO of Arbitrade / Cryptobontix said he welcomes Mohammed to the Board of Directors. “He brings exceptional experience and a strong track record to Arbitrade. He is one of the most accomplished and successful individuals in the retail distribution of communications products and services. He is a proven leader and his addition will provide immediate benefits to Arbitrade in implementing its retail strategy.”
Joining the Board of Directors at Arbitrade is a great opportunity for me as the Company is developing one of the most advanced coin exchanges in the world. I’m very excited to be part of this highly qualified and experienced team and looking forward to making a great contribution to Arbitrade’s success, said Mohammed Markatia for Globe Newswire.
Arbitrade and Cryptobonix Retains HFW Global Law Firm
Helping to structure a first of a kind agreement backing the firm’s tokens with gold.
NEW YORK, Feb. 27, 2018 (GLOBE NEWSWIRE) — The Boards of Arbitrade and Cryptobonix are pleased to announce they have retained HFW, a global law firm specializing in all areas of international trade and commodities. The firm will help structure and negotiate an agreement enabling the companies to back Cryptobonix tokens with gold and other precious metals.
In making the announcement, Cryptobonix Chairman, Leonard Schutzman, said, “Creating a cryptocurrency backed by precious metals is a cornerstone of our global marketing strategy. We are fortunate to have been able to engage this world class firm, so adept at dealing with international commodity law, to work with us in bringing this key objective closer to completion.”
PepsiCo’s former Senior Executive Named as CEO of Arbitrade
NEW YORK, Feb. 26, 2018 (GLOBE NEWSWIRE) — The Board of ARBITRADE is pleased to announce that the role of the Chairman of the Board of Directors, Leonard Schutzman, has been expanded to Chief Executive Officer.
Mr. Schutzman had a distinguished thirty-year career at PepsiCo, Inc., serving in a variety of leadership positions including Treasurer of PepsiCo Corporate, and Chief Financial Officer of PepsiCo, Inc., Frito-Lay and Taco Bell.
Commenting on his appointment, Mr. Schutzman said he was excited to take on this leadership role in an industry that will grow exponentially on a global scale. “It is a time of growth for our companies and at Arbitrade, I am fortunate to be supported by some of the best minds in the Cryptocurrency. This, and the combination of our distinctive strategy and proprietary software, will allow me to put together a world class management team and Board of Directors. I am confident that Arbitrade has the potential to be a best–of–breed Cryptocurrency company.”
for: Arbitrade Exchange Inc.