Toronto, ON, April 12, 2023 (GLOBE NEWSWIRE) — Spirit Blockchain Capital Inc. (the “Company” or “Spirit”) (CSE: SPIR ), a Canadian company offering shareholders diversified exposure to the Blockchain and Digital Asset Industry, is pleased to announce that they have executed a non-binding memorandum of understanding (“MoU”) with Masary Capital (“Masary”), a leading Dubai-based company, which offers a joint venture and consulting platform for companies worldwide who want to contribute to the region’s blockchain/metaverse strategy and successfully scale in the region. The MOU considers that the parties should enter into a strategic and advisory partnership agreement with Masary Capital.
As a top-tier partner in the MENA region, Masary Capital is at the forefront of the UAE’s National Blockchain Strategy and the National Artificial Intelligence Strategy 2031. Its footprint and in-depth understanding of digital assets, Web3 and payment solutions, among others. thing, allows Spirit to provide an optimal environment for global Blockchain businesses and growth for Spirit’s shareholders. Under the strategic partnership agreement, Spirit will leverage its relationship with Masary Capital to increase its presence in the Middle East, and it will use Masary Capital as an advisory provider with respect to potential growth in the region. Spirit will support Masary Capital’s Dubai Blockchain and Metaverse strategy by providing assistance to key Web3 infrastructure projects, including public blockchain, scaling solutions and decentralized applications such as DeFi and GameFi. As part of the partnership, Spirit will establish an office in Dubai. This move will enable Spirit to work more closely with its strategic partner and better align efforts towards realizing the vision of the Dubai Digital Asset Strategy, which seeks to leverage Blockchain technology for economic and social benefits.
The United Arab Emirates has the largest growth in the Blockchain industry, and Dubai is a global hub for the digital assets and metaverse community, with a thriving ecosystem that supports innovation and growth in these fields. It is home to many of the largest crypto exchanges and a strong supporter of Metaverse and Blockchain games. This is because of its favorable regulatory framework that has established a strong foundation for the digital economy. The Dubai government has taken a proactive approach to promote the growth of the virtual asset industry, implementing a licensing regime and establishing the Virtual Asset Regulatory Authority (VARA) to oversee the sector. This combination of entrepreneurial spirit, supportive policies and a vibrant business community has positioned Dubai as a leading player in the emerging global digital economy.
Khalil Abdulla, CEO of Masary Capital, expressed his excitement about Spirit Blockchain Capital as its Swiss-Canadian-based public company partner, commenting: “We are excited to work with Spirit Blockchain. We strive to work with companies that intend to contribute to the region’s vast ecosystem. We know that having a local partnership is the only way to create significant interventions and allocate capital in the right way.”
Spirit and Masary will become the premier strategic partnership for decentralized finance, Web3 and asset management companies in MENA. “This relationship exemplifies strategic opportunities in the Digital Assets and Blockchain space and the commitment that Spirit Blockchain Capital is able to provide. We could not get where we want to go without Masary as a key local partner,” said CEO Lewis Bateman CEO. “Masary is the best partner in the region and the partnership will be the basis for great opportunities and growth for both companies. This is just the beginning and soon we intend to be listed on Nasdaq Dubai.”
About Spirit Blockchain Capital Inc.
Spirit is listed on the Canadian Securities Exchange (CSE) under the symbol SPIR.CN
Spirit is a Canadian-Swiss group operating in the Blockchain and Digital Asset sectors with the primary objective of creating value in a fast-growing environment through recurring cash flows and capital growth.
Spirit gives investors direct exposure to the sector, without the technical complexity or limitations of buying and holding the underlying crypto assets. Spirit’s strategy is based on management’s belief that the Blockchain and digital asset ecosystem will provide significant growth and outperform traditional asset classes in the medium to long term.
The company’s strategy is centered on four complementary financial units:
- Royalties & Streams by lending capital to Blockchain ecosystem participants, where repayment of the nominal and interest occurs in the form of crypto-assets;
- Consultancy and research services;
- Treasury management through investment in large crypto-assets with cold storage in Switzerland; and
- Deliver IT solutions to the sector within the areas of Compliance, AML, Forensics and Risk Reporting.
To learn more about Spirit, go to: www.spiritblockchain.com
About Massary Capital
Masary Capital, a Dubai-based company, offers a joint venture and consulting platform for companies worldwide who want to contribute to the region’s blockchain/metaverse strategy to successfully establish and scale in the region.
Headquartered in the United Arab Emirates with trusted and influential key partners, Masary Capital offers a joint venture and consulting platform for established Web3 companies looking to enter the UAE and the wider Middle East markets.
Masary believes that it is very well positioned to provide a bridge for blockchain companies into the UAE and wider region.
Masary Capital has currently partnered with several top blockchain companies that use Masary’s strong network to connect with key players, government entities, banks and other strategic partners to ensure a competitive edge.
Khalil Abdulla, CEO of Masary Capital: “We bring with us many years of experience running an established family business, along with extensive expertise in traditional finance and other industries. So when we started Masary Capital, we wanted to carry on the same values: build long-lasting relationships, operate with integrity and trust, envision a clear path to profitability, growth and help our partners achieve long-term success. We are proud of these core principles and strive to build leading joint ventures in this region.”
Media contact:
Lewis Bateman, Managing Director
Email: [email protected]
Forward-looking statements
This press release contains forward-looking statements and forward-looking information in accordance with applicable securities legislation. The use of the words “expect”, “anticipate”, “continue”, “estimate”, “target”, “may”, “will”, “project”, “should”, “believe”, “plan”, “have to intent” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information deal with future events and conditions, they inherently involve inherent risks and uncertainties. Forward-looking information in this press release includes, among other things: the final agreements contemplated in the MOU taking place, namely agreements that form the basis of the company’s strategic and advisory partnership with Masary Capital; Spirit and Masary’s relationship as strategic partners and implications thereof; Masary Capital’s footprint and in-depth understanding of, among other things, digital assets, Web 3 and payment solutions, which allows Spirit to offer an optimal environment for global blockchain businesses to grow for Spirit’s shareholders; any statements relating to Spirit’s listing, cross-listing or quoting of any of its securities on the Nasdaq Dubai stock exchange; and the statement characterizes Dubai as a crypto-friendly jurisdiction. Actual results may differ materially from those currently expected due to a number of factors and risks. Factors that may materially affect such forward-looking information are described under the heading “Risk Factors” in the company’s prospectus dated August 8, 2022, which is available on the company’s profile on SEDAR at www.sedar.com. The company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Readers are therefore advised not to rely on forward-looking statements or information.
CSE has not reviewed, approved or disapproved the contents of this press release.
