Business
NSAV ANNOUNCES SIGNING OF BINDING LETTER OF INTENT TO ACQUIRE 40% STAKE IN VIRTUAL ASSET MANAGEMENT COMPANY
NSAV ANNOUNCES SIGNING OF BINDING LETTER OF INTENT TO ACQUIRE 40% STAKE IN VIRTUAL ASSET MANAGEMENT COMPANY.
About this update from Net Savings Link, Inc.
[{"type":"text","content":"Net Savings Link, Inc. (OTC: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that it has signed a Binding Letter of Intent (“LOI”) to acquire a 40% stake in a Hong Kong based Virtual Asset Management company. The company, yet unnamed, is headquartered in Hong Kong and holds a Type 9, asset management license and is regulated by the Hong Kong Securities and Futures Commission (“SFC”). Under the terms of the LOI, NSAV will become the Single largest shareholder of the Asset Management company. NSAV will enhance the Asset Management company, with the intention of it becoming a leader in the blockchain financial arena. The Company's goal is to achieve $2 billion or greater of Virtual Assets Under Management (“AUM”) in the next two to three years, as there is an exceedingly urgent market demand for these services.The management of NSAV believes that given the increased regulation of Virtual Assets, asset management companies will increasingly be called upon to act as custodian of virtual assets, as blockchain technology becomes more and more prevalent in the business world. Virtual Asset clients will soon see the importance of storing their digital assets with regulated entities and licensed institutions for safe keeping. NSAV’s cryptocurrency clients would no longer have to worry about losing or forgetting their password, which results in the loss of their entire Bitcoin or other virtual assets. Investors in Bitcoin alone, have lost over $140 billion as a result of lost passwords. The Company believes a “Virtual Asset” Asset Management company will solve this problem.The second reason the management of NSAV decided to strongly pursue this transaction, is that the Company believes a blockchain enabled Asset Management company can assist in allowing more transparency to the regulators, in order to protect investors against non-regulated activities. NSAV envisions becoming the bridge between the banking world, along with genuine cryptocurrency investors (i.e., introducing proper Crypto ETF products for investors to purchase), so crypto investor's bank accounts will not have to be frozen due to sub-standard crypto investments, which is a common occurrence in the industry at the moment.Another significant reason that NSAV has chosen Hong Kong for its next major investment, is due to the booming Ho...