Gen3 Technology Provides Banks a Simple Blockchain Connection API For Transaction Validation and Facilitation Using Stablecoin
SAN DIEGO, CA / ACCESSWIRE / January 26, 2021 / GreenBox POS (OTCQB:GRBX) ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions today announced a white label offering for banks is now available, allowing banks to easily connect to the GreenBox Gen3 blockchain based platform for validation as well as Stablecoin based transactions.
The recent announcement by the Office of Comptroller of Currency (OCC) (https://www.occ.gov/news-issuances/news-releases/2021/nr-occ-2021-2.html) has paved the way for banks to connect to blockchains as validator nodes, and as a result, transact with Stablecoin payments. The OCC's letter authorized bank operations in these areas, eliminating the associated legal uncertainty plaguing its customers. This important announcement opens the door to rapid advancement and brings digital currency and blockchain ledger payment processing technology like GreenBox's into mainstream focus.
This announcement signals the advent of increased opportunities for banks in the blockchain and digital currency arena, but also presents a number of challenges that GreenBox's white label API is immediately positioned to assist with. GreenBox's technology offers several solutions, from pass-through E-wallets, compliance with Federal Reserve E-wallet requirements, establishing debit cards, bill pay, and mobile banking attached to E-wallets in addition to Stablecoin only E-wallets.
"This is a tremendous opportunity for GreenBox and speaks to the core value of our company's mission, to advance blockchain secured digital financial transactions amidst a global shift to cashless payments," said Fredi Nisan, Chief Executive Officer of GreenBox POS. "We expect that a number of banks will rush to capitalize on this new frontier, capturing business previously unavailable to them. We believe that those lucky enough to be first to market will be utilizing GreenBox's Gen3 white label technology in a matter of weeks following simple API integration, avoiding costly development of their own."
About GreenBox POS
GreenBox POS (OTCQB:GRBX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
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 Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: GreenBox POS, LLC
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