NXT-ID and QubeChain Announce Strategic Alliance Agreement
Companies to collaborate in commercializing blockchain technology and to jointly pursue strategic market and growth opportunities
SEBASTIAN, Florida, October 17, 2018] – NXT-ID, Inc. (NASDAQ: NXTD) a provider of healthcare devices and services as well as payment, credential management, and authentication platform services and QubeChain LLC, a broad-based blockchain technology company focused on delivering blockchain solutions to the healthcare and payments markets, among others, today announced a Strategic Alliance Agreement to collaborate in the development and marketing of a blockchain-based technology solutions within the healthcare, payments and other strategic markets. Under the Agreement, the companies will jointly offer technology products and solutions from both companies to their respective customer bases and collaborate to pursue new market opportunities.
“As we became familiar with QubeChain, we found there was an array of complementary skills and offerings that will add significant value to the technical capabilities and relationships of both companies,” said Gino Pereira, Chief Executive Officer of NXT-ID. “This Agreement will increase the scope of each company’s technology products and solutions, and greatly expand our addressable market potential.”
“Nxt-ID and its subsidiaries have a demonstrated track record of successfully commercializing technology solutions within very complex ecosystems, such as healthcare and payments,” said C. Rees Morgan II, Founder, and CEO of QubeChain. “We see tremendous value and market potential in the combined technological offerings of both companies, and we are looking forward jointly pursuing key vertical markets.”
CubeChain is expanding its partnerships in healthcare in a major way with projects involving a major US health insurance provider. The Company’s offerings are tailored to provide patient record transparency and mobility and to help manage and reduce healthcare costs.
The Agreement includes a range of the sharing of information, providing introductions and referrals, undertaking joint marketing initiatives and other activities with the objective cooperating to jointly identify, develop, pursue and secure new business opportunities and expand the range of technology offerings to existing clients and customers.
The Agreement covers potential collaborations between QubeChain, Nxt-ID and its subsidiary companies LogicMark, LLC and Fit Pay, Inc., as well as Nxt-ID’s proposed spin-off of its payments, credential management, and authentication business.
About NXT- ID, Inc.
NXT-ID, Inc. (NASDAQ: NXTD) provides a comprehensive platform of technology products and services that enable the Internet of Things (IoT). With extensive experience in access control, biometric and behavior-metric identity verification, security and privacy, encryption and data protection, payments, miniaturization and sensor technologies, NXT-ID develops and markets groundbreaking solutions for payment and IoT applications. Its industry-leading technology products and solutions include MobileBio®, a suite of biometric solutions that secure consumers’ mobile platforms, the Wocket™, a next-generation smart wallet and the Flye, a digital credit card developed in collaboration with WorldVentures.
NXT-ID includes three mobile and IoT-related subsidiaries: LogicMark, LLC, a manufacturer and distributor of non-monitored and monitored personal emergency response systems (“PERS”) sold through dealers/distributors and the United States Department of Veterans Affairs; Fit Pay, Inc., a proprietary technology platform that delivers end-to-end solutions to device manufacturers for contactless payment capabilities, credential management, authentication and other secure services within the IoT ecosystem, and 3D-ID LLC, which is engaged in biometric identification and authentication. Learn more about NXT-ID at www.nxt-id.com. FitPay and the FitPay Payment Platform are the sole property of Fit Pay, Inc. For NXT-ID Inc. corporate information contact: firstname.lastname@example.org
Forward-Looking Statements for NXT-ID: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.
About QubeChain, LLC
QubeChain is a Blockchain Technology Company building mission-critical compliance blockchains for regulated industries. The Company leverages creative innovation and deep industry expertise to produce applied uses of Blockchain Technology. The Company’s solutions include: Consulting Services, Token Generation Events (TGES), Healthcare, Payment Processing, Silicon-2-Blockchain, Digital Wallets and Security.
D. Van Zant