USBC officially formed after a strategic acquisition worth 115 million USD, rebranding from Know Labs with the goal of developing a digital USD based on Blockchain technology.
After completing the transaction and renaming the company, USBC focuses on building an ecosystem of programmable digital USD, aiming for a new standard in trust and long-term value for shareholders.
MAIN CONTENT
A transaction worth 115 million USD, including 1,000 Bitcoin and 15 million USD in cash.
USBC was born with the programmable digital USD, user-friendly and compliant.
The new leadership team with Greg Kidd as CEO reinforces the vision for innovation in financial technology.
What is USBC and what does this deal mean?
USBC is the new name of Know Labs, established after a strategic acquisition worth 115 million USD led by Goldeneye 1995 LLC with Greg Kidd – former CRO of Ripple as CEO.
The deal contributed 1,000 Bitcoin and approximately 15 million USD in cash in exchange for 357.8 million new common shares, enabling USBC to focus on developing a digital USD on the Blockchain platform, thereby promoting a cryptocurrency ecosystem with compliance and emphasizing programmability.
Why is USBC focused on developing programmable digital USD?
USBC quickly identifies the USBC Token as the new standard for digital currency, both compliant and highly functional in applications.
Greg Kidd stated: “The USBC Token is an inclusive, compliant, and programmable digital USD.” This strategy aims for trust and sustainable value while opening up long-term growth potential for shareholders through financial innovation on the Blockchain platform.
“We believe this approach will create a new standard of trust and utility for digital currency, driving sustainable growth and generating long-term value for shareholders.”
Greg Kidd, CEO & Chairman of the Board of USBC, 6/8/2024
USBC's vision reflects a significant shift towards a digital financial ecosystem based on Blockchain with a programmable digital USD, creating new opportunities for fintech and developing secure, transparent Tokens.
What new leaders will guide USBC and what are their roles?
The new leadership team of USBC includes individuals with extensive experience in finance and technology:
Greg Kidd serves as CEO and Chairman of the Board, ensuring strategic direction.
Linda Jenkinson has been appointed Vice Chairman of the Board, supporting senior governance.
Ron Erickson, founder of Know Labs, serves as Chairman of the new department, responsible for strategic thinking.
Kirk Chapman serves as COO, driving operations and implementation.
Kitty Payne is the CFO, leading finance during the transition.
This group has many years of experience developing the USBC platform, helping to maintain stock trading on the NYSE American with the new symbol USBC and keeping the CUSIP code unchanged, ensuring stability and transparency for investors.
“We are proud to build a visionary and experienced leadership team, ready to lead USBC into the digital currency era.”
Greg Kidd, CEO of USBC, 6/8/2024
How does the new brand affect the market?
The name change from Know Labs to USBC, along with the change of stock symbol from KNW to USBC on the NYSE American, reflects a clear strategy centered around the programmable digital USD.
This move helps build a brand identity closely related to the cryptocurrency field, while attracting the attention of investors and the financial market to the company's vision for fintech and blockchain.
What protections and developments for shareholders are being implemented?
With 81% of the shares currently under the control of Goldeneye, the company is committed to sustainable and transparent development in the deployment of digital USD, creating real value for shareholders.
Maintaining the CUSIP code and listing on the NYSE American helps protect investor rights with clear reporting policies and strict controls according to international standards, while promoting the development of modern financial technology.
Frequently Asked Questions
What is USBC?
USBC is the new name of Know Labs after completing a strategic acquisition worth 115 million USD, focusing on developing a programmable digital USD on the Blockchain.
Who is the current CEO of USBC?
Greg Kidd, former CRO of Ripple, was appointed CEO and Chairman of the Board of USBC after the deal was completed.
What are the notable features of the USBC Token?
USBC Token is a compliant, programmable digital USD aimed at providing utility and secure cryptocurrency solutions.
Where will USBC stock trade?
USBC stock continues to be listed on the NYSE American with the symbol USBC, maintaining the previous unchanged CUSIP code.
Who are the new leaders of USBC?
The team includes Greg Kidd (CEO/Chairman), Linda Jenkinson (Vice Chairman), Ron Erickson (Department Chairman), Kirk Chapman (COO), and Kitty Payne (CFO).
Source: https://tintucbitcoin.com/cro-ripple-greg-kidd-mua-know-labs/
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