IQST – iQSTEL
Announces Application for Dual Listing on Upstream
New York, NY -- November 7, 2022 -- InvestorsHub NewsWire --
iQSTEL, Inc. (OTCQX:
IQST) (https://www.iqstel.com/),
a rapidly growing global telecommunications firm diversifying into
an expanding array of innovative products and services through its
four operating divisions, Telecom, Fintech, Blockchain,
and Electric
Vehicles,
today announced
that it has begun the application process to dual list its shares
on Upstream, the revolutionary trading app for digital securities
and NFTs powered by Horizon Fintex ("Horizon") and MERJ Exchange
Limited ("MERJ").
The planned dual
listing on Upstream is designed to provide iQSTEL the opportunity
to access a global, digital-first investor base that can trade
using USDC digital currency along with credit, debit, PayPal, and
USD, unlocking liquidity and enhancing price discovery while
globalizing the opportunity to invest in OTCQX-quoted
iQSTEL.
Commenting on the
application to list on Upstream, Leandro Iglesias, Chief Executive
Officer of iQSTEL, said, "We encourage shareholders to learn more
about Upstream in order to fully appreciate the value of iQSTEL's
dual listing on Upstream. We believe the dual listing will
build shareholder value and liquidity by making iQSTEL investment
available to a broader range of global investors trading with a
broader range of investment tools to include USDC digital currency,
credit, debit, PayPal, and USD. These tools will also be
available to existing iQSTEL shareholders that signup for an
Upstream account. We furthermore believe the
experience gained through Upstream application process will
contribute to our intended future up-listing to NASDAQ."
Approval to be
listed on Upstream is subject to acceptance by MERJ. However, as an
existing OTCQX company, the standards to which iQSTEL currently
adheres are sufficient to comply with MERJ Listing Rules, including
but not limited to disclosure, filing and notification
requirements.
Once approved for Upstream Dual
Listing, IQST shareholders of record will be able to install the
Upstream App and complete a simple KYC / AML
check.
If a shareholder elects to have
their shares transferred from their existing broker dealer to
Upstream, the process to instruct the transfer agent of this will
begin. Once the transaction is approved, the shares will reflect as
"sell only" on the Upstream App (if the shareholder resides in
either the US or Canada). Investors outside of these 2 countries can both
buy and sell on Upstream if they are 18 years of age or older and
have completed their KYC / AML check. Additionally, shareholders of
record that have onboarded to the Upstream App are eligible to
receive digital dividends, should the company elect to do
so.
The benefits of listing on Upstream
include:
-
No Short Selling. Upstream does not
permit the short selling of our issuers' securities.
-
Global Audience, including
Cryptocurrency. Uniquely, Upstream allows global investors access
to U.S. equities using cryptocurrency in the form of the USDC
stable coin. This enables issuers to reach new investors around the
world and increase liquidity potential.
-
Transfer Agent Integration.
Upstream's U.S. transfer agent deposit and legend lift technology
also solves for common deposit and custody problems issuers
face.
-
Web3 Technology. Upstream features
high-tech, high-touch onboarding, user-friendly trading tools, and
transparency enforced by Web3 blockchain technology to make it both
convenient and efficient for international traders to trade
securities.
-
FDIC Insurance: Upstream accounts,
U.S. and non-U.S., are FDIC-insured up to $250,000.
-
Streamlined On/Off Ramps.
Cryptocurrency holders enjoy a streamlined on/off-ramp to/from
popular cryptocurrency exchange platforms like Coinbase. US Dollar
holders enjoy a fiat on/off-ramp to/from any U.S. or int'l bank
when they sell their shares.
-
Full Sovereign Exchange. Upstream
is a MERJ Exchange Market. MERJ is an affiliate of the World
Federation of Exchanges. As a fully regulated overseas stock
exchange, we are a peer to the OTC markets (i.e. Upstream is not a
mini-market like an ATS or MTF). This means qualified issuers may
cross-list Upstream securities in other global markets.
About
Upstream:
Upstream, a MERJ
Exchange Market, is a fully regulated global stock exchange for
digital securities. Powered by Horizon's proprietary matching
engine technology, the exchange will enable investors to trade
NFTs, shares in IPOs, crowdfunded companies, U.S. & Int'l.
equities, and celebrity ventures directly from the app:
https://upstream.exchange. Interested issuers can reach
the team at
hello@upstream.exchange.
About
MERJ:
MERJ Exchange
(MERJ) operates Upstream as a fully regulated and licensed
integrated securities exchange, clearing system and depository for
digital and non-digital securities. MERJ is an affiliate of the
World Federation of Exchanges (WFE), recognized by HM Revenue and
Customs UK, a full member of the Association of National Numbering
Agencies (ANNA) and a Qualifying Foreign Exchange for OTC Markets
in the US. MERJ is also a member of the Sustainable Stock Exchanges
Initiative. Visit
https://merj.exchange/ to learn more.
About
Horizon:
Horizon is a
fintech company that builds and powers global securities exchanges
with an integrated suite of software for compliant issuance,
management, and secondary trading of securities. Our in-house
solutions combine Wall Street and Silicon Valley to power the next
generation of securities offerings and trading in the U.S. and
globally. Learn more at
https://www.horizonfintex.com/.
About iQSTEL
Inc.:
iQSTEL Inc.
(OTCQX:
IQST) (www.iQSTEL.com)
is a US-based publicly listed company holding an Independent Board
of Directors and Audit Committee with a presence in 19 countries
and 70 employees offering leading-edge services through its four
business lines. The Telecom Division (www.iqstelecom.com), which
represents the majority of current operations, offers VoIP, SMS,
proprietary Internet of Things (IoT) solutions, and international
fiber-optic connectivity through its subsidiaries: Etelix,
SwissLink, Smartbiz, Whisl, IoT Labs, and QGlobal SMS. The Fintech
business line (www.globalmoneyone.com)
(www.maxmo.vip)
offers a complete Fintech ecosystem MasterCard Debit Card, US Bank
Account (No SSN Needed), Mobile App/Wallet (Remittances, Mobile Top
Up, Buy/Sell Crypto). Our Fintech subsidiary, Global Money One, is
to provide immigrants access to reliable financial services that
make it easier to manage their money and stay connected with their
families back home. The BlockChain Platform Business Line
(www.itsbchain.com)
offers our proprietary Mobile Number Portability Application (MNPA)
to serve the in-country portability needs through its subsidiary,
itsBchain. The Electric Vehicle (EV) Business Line (www.evoss.net)
offers electric motorcycles to work and have fun in the USA, Spain,
Portugal, Panama, Colombia, and Venezuela. EVOSS is also working on
the development of an EV Mid Speed Car to serve the niche of the
2nd car in the family.
Safe Harbor
Statement: Statements in this news release may be "forward-looking
statements". Forward-looking statements include, but are not
limited to, statements that express our intentions, beliefs,
expectations, strategies, predictions, or any other information
relating to our future activities or other future events or
conditions. These statements are based on current expectations,
estimates, and projections about our business based partly on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties, and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may and are likely to differ materially from
what is expressed or forecasted in forward-looking statements due
to numerous factors. Any forward-looking statements speak only as
of the date of this news release, and iQSTEL Inc. undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this news release. This
press release does not constitute a public offer of any securities
for sale. Any securities offered privately will not be or have not
been registered under the Act and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration requirements.
iQSTEL
Inc.
IR US Phone:
646-740-0907
IR
Email: investors@iqstel.com
