Vancouver, BC, January 11, 2019, Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) (“Upco”) is pleased to announce that it has successfully registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC is Canada’s financial intelligence unit (FIU), providing financial intelligence and compliance functions necessary to ensure the safety of Canadians and the protection of the integrity of Canada’s financial system.
Registration with FINTRAC is a foundational step in Upco’s strategy to extend its e-commerce services under the UpcoPay brand, currently under development in the European Union, into other jurisdictions, including Canada.
Mr. Andrea Pagani, CEO and President of Upco, commented, “With our work in the European Union, Upco is at the forefront of the innovative solutions associated with the evolving and highly regulated e-commerce paradigm. Registration with FINTRAC is an important first step in introducing our services into Canada while ensuring full regulatory compliance.”
FINTRAC’s mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities while ensuring the protection of personal information under its control. The centre acts at arm’s length and is independent from the police services, law enforcement agencies and other entities to which it is authorized to disclose financial intelligence. It reports to the Minister of Finance, who is in turn accountable to Parliament for the activities of the Centre.
About Upco International Inc.
Upco International Inc. is a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce. Upco is a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business. Upco has designed a software application for Apple iOS and Android, similar to SKYPE and WhatsApp. With the forthcoming addition of the Upco e-Wallet using Blockchain Payment Services, users will be able to: send invoices, approve payments, transfer international funds, convert international currencies, and track transfers and payments. The application will also allow vendors to securely share account information with their clients.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
+1 (212) 461 3676
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “will” “may” “believe”, “expect”, “anticipate”, “intend”, “estimate”, “development”, “forthcoming”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.