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Byte Power Group Ltd (ASX:BPG) is pleased to provide a further update on the progress of the development of the Cryptocurrency Exchange currently being developed by its subsidiary, Byte Power Pty Ltd (BPPL).

BPPL's technology services partner, Noetic Synergy, advises that:

- Core exchange functions development is now completed and is being tested;

- User Interface Requirements and interface with banking facilities are being finalised; and

- Regulatory compliance functions and services are being confirmed and are under final negotiation.

BPPL advise that the Exchange is being developed to initially support 8 cryptocurrencies and 2 fiat currencies.

In accordance with AUSTRAC requirements last updated on 13 March 2018, BPPL will formally begin AUSTRAC registration when relevant forms are made available on 3 April 2018. AUSTRAC registration is a pre-condition for the exchange to operate in Australia.


About Byte Power Group Limited

Byte Power Group Limited (ASX:BPG) is a diversified technology solutions group with a particular emphasis on securing Asian business opportunities.

Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.

This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company’s Australian wine, organic honey and honeycomb.

 

Contact

Michael Wee
Company Secretary
Byte Power Group Limited
T: +61-7-3620-1688
www.bytepowergroup.com



Link: Cryptocurrency Exchange update



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