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WORBLI to enter into an APA with AmaZix Capital and Origin Ventures

WORBLISingapore-based WORBLI has entered into an asset purchase agreement (APA) with AmaZix Capital and Origin Ventures, regarding the proposed acquisition of 100 percent of its assets in return for ongoing funding and development capital.

The acquisition will be completed upon satisfaction of conditions precedents. The transaction will allow WORBLI to accelerate the deployment of its proprietary Know Your Customer (KYC) and Anti-Money Laundering (AML) offerings to the FinTech and digital asset sectors, concurrently with the commercialisation of the tokenised security technology native to the WORBLI blockchain.

Domenic Thomas, CEO, WORBLI expressed, “”When we started this journey, our job was to identify and develop the key components that traditional Financial Markets would require to even consider looking at DLT as a practical solution to its evolution.  The road we took was lonely as the only blockchain network to implement KYC in the base protocol, but the strength of our conviction brought us to this transaction and a huge step forward in turning our vision into reality.”

He further mentioned, “Whilst 0rigin have supported us throughout, the addition of AmaZix Capital to WORBLI brings multi-dimensional growth potential that was beyond any of our wildest expectations…”

The transaction even encompasses the 10 percent of WORBLI Utility tokens (WBI) in circulation which will be subject to a lock-up period spanning 6 years. Funding and resources will be secured for the WORBLI Foundation to uphold administrative and customer support for the blockchain and for the promotion of the company’s institutional product offering. The roll out of WORBLI technology will allow for faster commercial adoption of the chain.

In November 2019, the Singapore-based blockchain platform joined forces with Agenix to launch the Compliance as a Service (CaaS) offering to assist companies in navigating through regulatory requirements, thereby reducing their compliance burden.

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