Hello Wellfield Investors and Stakeholders,
As we navigate through an exciting and transitional period of growth and innovation at Wellfield, I want to address several pertinent topics regarding our current projects, future endeavors, and highlight recent press releases that provide further context to ongoing operations at Wellfield. I would also like to take a moment to acknowledge the questions and feedback we have received from you. Your insights are crucial to our strategy and operations, and in this update, I will address the key themes that resonate most strongly with you: our share price performance, Coinmama growth, our Gold product offerings, and other future strategic plans.
Share Price Performance
We understand that recent fluctuations in the stock have been concerning, especially when they do not seem to align with the performance of related assets like Bitcoin. We remain committed to our strategic goals and are optimistic about the future of our company. We are actively working on a few initiatives we have recently announced, including the launch of our Gold products, and enhancing Coinmama’s offerings with mobile app integrating Fireblocks technology. Each of these initiatives represents a significant opportunity for our company to grow and deliver value to our shareholders.
We acknowledge that building market awareness and attracting new investors is an area where we can improve. To this end, we are focused on leveraging our most innovative solutions, such Gold trading platform for institutional clients, and wGLD- gold for retail clients on Ethereum blockchain with Optimism products, for new awareness efforts which we believe will capture attention and differentiate WFLD in the marketplace in 2024.
While we cannot predict future stock price movements, we are confident in our business model, our team, and our strategy. We believe that by executing on our plans and continuing to innovate, we can create long-term value for all our stakeholders. Our management team is not only attentive but also personally invested in the prosperity of our share value. We are
implementing robust strategies aimed at improving our financial health and market position, thereby enhancing shareholder value.
Coinmama Growth
Growing our user base on Coinmama and deepening engagement continue to be a cornerstone of our success. Our focus remains on enhancing user experience and increasing our service offerings to attract and retain users.
Shifting the focus to Mobile
Coinmama stands as one of the world’s most enduring and trusted brands, offering customers a seamless way to transition their funds onto the blockchain while retaining complete control over their cryptocurrency. As more and more of Coinmama’s clients opt for mobile access, Wellfield has taken steps to future-proof the Coinmama mobile app through its partnership with Fireblocks. This collaboration integrates Fireblocks’ non-custodial wallet-as-a-service solutions into the core of the Coinmama wallet. With this enhancement, customers can maintain full control over the cryptocurrency they purchase from Coinmama, enjoying simple and secure access to the best of Web3 and DeFi, all from a single platform. Other benefits of the new Coinmama mobile app will be disclosed and available when we launch towards mid-year.
Wellfield’s Gold Product Offerings
The recent launch of wGLD is an exciting development that we believe will significantly enhance our product offerings. This initiative will allow our users to invest in gold with the added benefit of earning yield, merging traditional asset security with innovative financial technology. That said, we remain committed to servicing two distinct blockchain-based gold ecosystems, each catering to specific investor communities: VaultChain Gold and wGLD.
- VaultChain Gold: Developed on the Tradewind Ledger, VaultChain Gold offers a closed precious metals trading platform tailored exclusively to Custodial Participants of the Royal Canadian Mint and their clients. This initiative revolutionizes the institutional gold marketplace, providing unparalleled accessibility, security, and efficiency in precious metals trading.
- wGLD: Serving as the cornerstone of a global and open gold ecosystem for the DeFi community on Ethereum, wGLD embodies Wellfield’s commitment to democratizing access to physical gold. With its launch on Optimism, a prominent Ethereum Layer 2 blockchain, wGLD opens new horizons for DeFi enthusiasts, enabling seamless integration into decentralized trading, lending, borrowing, and yield-generation opportunities. For more information about wGLD, visit https://www.wellfield.gold.
Strategic Path Forward
Our roadmap is designed to foster sustainable growth and enhance shareholder value. Key focuses include scaling our core business operations, advancing our DeFi strategy and patent applications, diversifying our revenue streams, and continuing to innovate within the crypto and financial technology sectors. We are also prioritizing the integration of recent partnerships and
acquisitions to streamline operations and leverage synergies within the space as well as enhancing shareholder value.
In closing, I want you to know that your feedback drives our decisions and long-term planning. As we move forward, your continued support and feedback remain invaluable to us. We are committed to transparency and are excited to share these updates with you as they develop. Thank you for your ongoing support and belief in our vision.
If you haven’t already, Join Wellfield’s digital community on LinkedIn and Twitter, and for more details, visit wellfield.io.
All the best, Levy Cohen
CEO/Co-Founder
Wellfield Technologies, Inc.
Wellfield in the News – Recent Press Releases
04/04/2024: Wellfield Technologies: Transforming Institutional and DeFi Gold Investing 03/28/2024: Wellfield Announces wGLD: Digital Gold Now Available on Blockchain 03/26/2024: Wellfield Announces Strategic DeFi Layer 2 Initiatives on Optimism 03/20/2024: Wellfield and Paybis Forge Partnership to Intensify Coinmama’s Capabilities 03/18/2024: Wellfield Updates on Positive Impact of Ethereum’s Dencun Upgrade 03/15/2024: Wellfield Launches New Decentralized Finance Services on Coinmama.com 03/12/2024: Wellfield Enters Into $5 Million Equity Facility with Alumina Partners 02/29/2024: Wellfield Updates on Its Bitcoin-DeFi Strategy and Patent Status 02/20/2024: Wellfield Partners with Banxa to Drive Coinmama’s Growth
02/09/2024: Wellfield Technologies Inc. Enlists Fireblocks to Enhance Its Digital Asset Operations and Product Offerings
02/01/2024: Wellfield Technologies Inc. Advancing Its Tokenized Gold Initiative – Announcing Yield on Gold
12/29/2023: Wellfield Closes Acquisition of Brane Trust Company Ltd.,
02/08/2023: Wellfield Closes Acquisition of Tradewind Markets and Private Placement – Creates Transformational Platform for Precious Metals Investors and Producers