$LCLP Life Clips Subsidiary Belfrics Group Relaunches Cryptocurrency Exchange In India With 25 Coins
AVENTURA, Fla., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) announced today its wholly owned subsidiary Belfrics Group, one of India’s early adopters of blockchain and cryptocurrency, is re-launching its crypto currency exchange in India. Belfrics Group plans to offer a total of 25 coins for its traders and expects more than 30% of its monthly volume to come from the Indian market.
Praveen Kumar, Founder & CEO Belfrics group said, “India is still at a fairly nascent stage when it comes to crypto investments. While the India growth story has tremendous potential, currently only 7.3% of the total population of India are trading in the crypto market, most of them being based out of larger cities.i We are aiming to reach out to maximum traders, even in smaller towns. Our plan calls for opening 20 independently owned physical crypto outlets, with a goal of having up to 200 targeting potential clients in these areas.” Mr. Kumar continued, " Belfrics has an initial target of 100,000 clients with plans to grow to 1 million clients over 6 to 12 months following the launch. On the cryptocurrency exchange along with basic services we will also add five other popular services such as staking reward, derivative products, lending and borrowing, custody solutions and crypto payments card and loyalty programs.”
According to a recent article on Bloomberg.com, in hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age is 25. Fifty-five percent of those users are from outside large cities like New Delhi or Mumbai.
Robert Grinberg, CEO and President of Life Clips, Inc. said, "India is one of the fastest growing cryptocurrency markets in central and southern Asia. India’s crypto market grew 600% over the past year. Belfrics is aggressively expanding its offerings to its new and existing clients in the areas it already serves through value added services and access to additional products. We believe the timing is perfect for Belfrics Group to re-launch its crypto currency exchange in India's fast-growing market. I believe we are in the right place at the right time to see significant growth.”ii
Belfrics is a leading global blockchain technology firm and cryptocurrency exchange focused on making cryptocurrency technology effortless to use and accessible to all with an easy-to-use interface. The company was created in 2014 by a group of entrepreneurs who envisioned the opportunities and benefits of cryptocurrencies as the future of the digital currency market.
Globally headquartered in Kuala Lumpur and having its development center in Bangalore, India, Belfrics has rapidly expanded to key markets like exchanges in Malaysia, Singapore, Bahrain, Kenya, Nigeria, Tanzania and India. Belfrics has already structured a team of blockchain specialists and skilled trading industry professionals who aim at maximizing the benefits of an individual investor through the company’s reliable, simplified and secured trading platform. Belfrics is not merely an online presence but a team of trusted providers of cryptocurrency services who understand the status and constant fluctuations of the global scenario and are fully equipped to successfully guide individuals and help them yield maximum benefit.