UA Multimedia Announces Launch of Decentralized Exchange (DEX), Targeting Multitrillion-Dollar Cryptocurrency and DeFi Market
IRVINE, CA, Dec. 15, 2021 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC Pink: UAMM), a holding company and solution provider in the areas of blockchain, cryptocurrency, decentralized finance (DeFi), NFT and metaverse, announces the launch of the beta decentralized exchange (DEX), GogiSwap.
GogiSwap () is a decentralized permissionless cryptocurrency exchange. It connects to most major and many smaller exchanges worldwide to provide users with the needed liquidity for efficient trading and allows them to exchange between 280 cryptocurrencies from over 20 different blockchains.
Unlike centralized exchanges such as Coinbase, Binance or Kraken, GogiSwap is a non-custodian exchange and does not require users to provide personal information to open accounts. All transactions are made via the users’ own digital wallets, thus allowing them to be in full control of their funds.
In addition to the beta release of the web-based platform, the Company is working to complete the development and testing of the Android and iOS mobile apps. The apps are expected to be launched before the end of the month.
GogiSwap is the initial component of an ecosystem. The Company is working to launch a utility token as the next component. In addition to trading, the ecosystem will allow users to earn tokens via contests, community participation and staking in the near future.
GogiSwap is a joint development effort between the Company and its strategic partner, SmartBitX LLC, a Georgia fintech and digital asset company.
The global cryptocurrency market is a $2 trillion dollar market and growing. One of the leading DEXs, Uniswap, has reported nearly $2 billion of daily trading volume and a cumulative trading volume in excess of $500B.
“We are excited to expand our presence in the cryptocurrency space with the launch of GogiSwap,” said Michael Lajtay, interim CEO of UA Multimedia. “We have several additional products in the queue to launch this month and early 2022. We also plan to initiate our metaverse project in Q1 and will provide more details as things materialize.”
About UA Multimedia, Inc.
UA Multimedia, Inc. is a holding company and solution provider with a focus on blockchain, cryptocurrency, decentralized finance (DeFi), NFT and metaverse. It is also a holding company seeking to acquire domestic and foreign entities who are in the same space.
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This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
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UA Multimedia, Inc.
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