We were just talking about COSTAS INC (OTCMKTS: CSSI) here on Street Register last week, regarding the company’s assuming of full control over AuthentaTrade Ltd. a fully functional cryptocoin exchange based in the Republic of Seychelles, of which it had previously only controlled 48% of the voting interest.
Now, just days later, we already have received updates on another facet of that deal, which is pretty exciting, considering the current climate of cryptocurrency, and the surrounding excitement that comes with it.
COSTAS INC (OTCMKTS: CSSI) wholly owned subsidiary, AuthentaCash, a division of AuthentaTrade, is now operational selling Cryptocoin Automated Teller Machines, referred to as Crypto Kiosks. AuthentaCash’s kiosks are equipped with cutting-edge technology that allows users to purchase cryptocoins, on site, in a variety of retail settings anywhere around the globe.
The Company expects immediate cash flow and bottom line profits from the purchasing and the implementation of the Crypto Kiosks in the first quarter of 2018. The first 10 machines will be ready to ship in 45 days. Costas’s monthly order fulfillment potential is 100 units with expected positive cash flow to run concurrently with sales.
Costas CEO, Mr Cliff Redekop, commented, “Being able to offer Crypto Kiosks means that our AuthentaTrade division will be offering a unique and unprecedented end to end solution for both fiat and cryptocurrencies, to retailers and individuals, and as an entry point for the billions without bank accounts. The multiple revenue streams generated will propel Costas’s earnings.”
AuthentaCash kiosks are a complete optimized turn key device, linked in to the AuthentaTrade trading platform, providing access to buying and selling cryptocurrencies, moving fiat currencies to and from the AuthentaCard ATM card, and getting cash right from a cryptocurrency wallet. This provides multiple streams of income to the kiosk owner.
The team at AuthentaCash has secured a strategic relationship with a North American based ATM and Crypto Kiosk manufacturer, and has a number of exclusive territories for distribution. By agreement, CSSI’s Crypto Kiosk division, AuthentaCash will be able to deploy Crypto Kiosks in a riskless transaction model of up to 1,200 Crypto Kiosks in this first year. AuthentaTrade provides proprietary software that communicates with the kiosks, linking them to the exchange, which increases AuthentaTrade’s users and distribution of its dedicated wallets.
Merchants will now be able to provide their clients access to use AuthentaTrade’s virtual terminal where they can process Visa, Master Card, and China Union Pay to load their AuthentaCash Card and purchase Crypto through the kiosks or use the card for in store “gift card” style purchases. Costas feels that through their banking relationships, software and exchange platform, it has a solid alternative to standard merchant terminals for point-of-sale transactions. The Company plans to immediately connect merchants to the “Unbankable” market, which currently has 2.5 billion people without a bank account, according to Business Insider.
The profits from sales, leasing and the on-going licensing fees from every transaction, will be paid directly to Costas. The Company expects immediate cash flow and bottom line profits from the purchasing and the implementation of the Crypto Kiosks in the first quarter of 2018. (Source:OTC Disclosure & News Service)
As we mentioned above, we were already tracking CSSI on the heels of the AuthentaTrade acquisition completion, and this latest element to the story just adds an extra layer of interest. We’ll most definitely want to keep tabs on CSSI moving forward. Keep it locked to Street Register for updates, and we’ll deliver those important developments on CSSI to you as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in CSSI stock, short or long