Global Telephony Provider Webtel.mobi and its US Subsidiary WM Holdings Inc. issue joint clarification highlighting their independent and nonaligned postures, as well as the differences between Webtel.mobi’s TUV Digital Currency equivalent and Cryptocurrencies
LONDON and NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) -- The global Cryptocurrency sector is currently undergoing unstable transitionary events. These include bankruptcies and failures of large entities, regulatory action being taken or contemplated within that sector by regulatory authorities, and adversarial postures being taken up by Stakeholders against Cryptocurrency Asset Managing firms.
Against this backdrop – and following contact established with it by entities involved in some of these unstable / adversarial events – Webtel.mobi (Holdings) Limited and its US Subsidiary WM Holdings Inc. have issued a public clarification – to and for the various parties contacting it, and all/any other relevant parties – clarifying their position and stance in this situation, as well as the structure and nature of the TUV Digital Currency / CBDC equivalent.
Firstly, as a clarification of the status and designation of the TUV Digital Currency / CBDC equivalent, it is not classified as a Cryptocurrency or a Stablecoin. This is because:
- Although the TUV indeed possesses every positive characteristic of Cryptocurrencies, Stablecoins, Digital Currencies – and all the required characteristics of proposed Wholesale and Retail CBDCs on a Global Multicurrency basis – it also exhibits the following very important differences between it and Cryptocurrencies / Stablecoins:
- TUVs are not sold as Retail Speculative Commodities at costs in the tens of thousands of dollars per TUV. They are provided and acquired at zero cost. Their varying Face Values are determined by the Acquirer, who converts the Currency amount of choice into TUV Digital Currency.
- The Face Value of each Currency-Backed “Standard TUV” is permanently backed by 100% of the Currency of the TUV Face Value, permanently stored in a Regulated Bank Account (i.e. it is a 100% Reserve Currency equivalent).
- The Face Value of each Gold-Backed “Secured TUV” is permanently backed by 100% of the TUV Face Value in Gold Bullion, permanently stored in a Secured Gold Storage Facility (i.e. it is a Gold Standard Currency equivalent).
- The Face-Value of each Programmable “Smart TUV” is permanently backed by either 100% of the Face value in either Currency or Gold (i.e. because Standard TUVs or Secured TUVs are used as the baseline Programmable Instrument).
- The Securing Currency or Securing Gold of any TUV is permanently available for redemption – on demand by the owner – to the Bank Account of the owner and/or the possession of the owner (if Gold).
- The TUV Backing Currency can be converted to all other International Reserve Currencies – and other currencies – on demand and without limitation as to the number of conversions, by the owner.
- The TUVs function according to Distributed Ledger+ and Blockchain+ Systems – meaning that the asset is recoverable by the owner even in a case of Private Keys being lost or misplaced; and that loss or theft of the asset is not possible.
- The Webtel.mobi Platform and System reside and function within a Unitary Global System, in which all aspects of Global TUV Creation, Distribution, Acquisition, Purchase or Sale or Trade or Exchange Transactions, Transfer + Payment Transactions, Settlement and Redemption are carried out from, and on, one Platform. This removes all intermediary layers and fees.
- A TUV Solution facilitating all aspects of TUV activity and transactions exists for the Global Unbanked population exists, facilitating entry of all Unbanked or Underbanked persons Globally into the 21st Century Global Digital Economy environment.
- The Webtel.mobi System and TUVs are not in a regulatorily disputed or regulatorily grey-area sector. They are firmly in the Telephony Sector, and have been due diligenced over 13 years in 60+ Due Diligences. The most recent satisfactorily Regulatory Review by the Senior Telephony Regulator in Guernsey – the Guernsey Competition and Regulatory Authority – was in late 2022 (on top of a previous unambiguous clarification by the Guernsey Financial Services Commission in 2021 that Webtel.mobi is not in the Financial Services Sector). See the document “Recent Regulator’s Review” in the “Resources” section of this article.
The Webtel.mobi TUVs and the entire TUV System were reviewed for over a year by some of the world’s foremost Macroeconomists and one of the world’s foremost Macroeconomic Entities. An entire Research Paper was published on the TUVs that confirms all of its characteristics, and that confirms the substantial differences between the TUVs and Cryptocurrencies / Stablecoins, as well as the TUVs’ other ubiquitous and Strategic global applications (See the Research Paper “New Dimensions for the TUV in the Webtel.mobi System” in the “Resources” section of this article).
For this reason, it is not only entities that currently have holdings in the Grayscale Bitcoin Trust that are interested to use TUVs and other Webtel.mobi facilities / the Webtel.mobi Platform.
Multiple other entities unconnected to the Cryptocurrency sector events are also considering establishing their own Vehicles through which to acquire TUVs in multiple currencies – or Gold-Backed Secured TUVs – for their clients, for their discretionary portfolios, or for their own portfolios. This is particularly given the proven Inflation and Currency Depreciation Hedges that the TUVs provide. (See the document “TUVs as an Inflation and Currency Depreciation Hedge” in the “Resources” Section of this article).
Moreover, although the Global Cryptocurrency-related Sector represents a significant Market Sector in terms of both value and volume, it is only considered a Market of Secondary Interest to Webtel.mobi. This is because the Cryptocurrency-related Sector – as significant as it is – is small in volume and value compared to the other market sectors in which Webtel.mobi’s TUVs, Facilities and Platform currently have proven command leads.
These include:
- Being a proven and operational Global Alternative to SWIFT for Transfers
- Being a proven and operational Alternative to the Global FX Market for Conversions
- Being a proven and operational Alternative to the Global Payments Sector for Online and Offline Payments
- Being a proven and operational Alternative to Global Clearing Houses for Settlements
- Being a proven and operational Global Wholesale and Retail CBDC equivalent
- Being a proven and operational Global Unitary Currency equivalent
- Other Globally Ultra-High Value Attributes
(See the Research Paper “Money and Credit: Potential Expansion of the WM System” in the Webtel.mobi System” in the “Resources” section of this article).
It is as a result of these Command Leads in these Ultra-High Value Global Sectors that the personnel of Central Banks have previously requested internships at Webtel.mobi. Moreover, an entity representing all Central Banks engaged in CBDC / Digital Currency Research previously requested Webtel.mobi to set up a joint project to share its knowledge with them, due to it having its own completed, proven and fully-operational Global CBDC-equivalent.
Currently, it has been widely reported in the media that that the SEC is involved in investigations with regard to some of Digital Currency Group’s (“DCG”) subsidiary Genesis Global’s activities and/or transactions. Simultaneously, DCG’s subsidiary Grayscale Investments is reportedly litigating against the SEC in an effort to gain EFT status for the Grayscale Bitcoin Trust.
These events narrowly precede – or follow closely on the heels of – the SEC’s reported increasing crackdown on aspects of Cryptocurrency trading in general, and the fallout from the collapse of the Cryptocurrency-based entity FTX and its subsidiary Alameda Research.
Moreover, it has recently also been widely reported that a number of Stakeholders in the world’s largest Bitcoin and Cryptocurrency Asset Manager – the Grayscale Bitcoin Trust (“GBTC”) – have commenced litigation or activism against GBTC. These include well-known firms such as ARK Investment Management, UTXO Management, Fir Tree Partners, Osprey Fund and Valkyrie.
In this unstable environment and climate in that sector, some of the Stakeholder entities involved in the dispute and/or litigation with GBTC have contacted Webtel.mobi, inquiring as to the potential for them to diversify their holdings in that entity by establishing vehicles that hold TUVs as opposed to GBTC and/or Bitcoin and/or other Cryptocurrency holdings.
Webtel.mobi and its US Subsidiary WM Holdings Inc. have consequently corresponded with the larger of the relevant entities engaged in these adversarial activities – and with also with the Digital Currency Group and the Grayscale Bitcoin Trust – to clarify Webtel.mobi’s and WM Holdings Inc.’s position.
The reasons for this are that:
- Webtel.mobi’s US Subsidiary – WM Holdings Inc. – is in the final stages of preparation to commence its Regulation D Rule 506(c) Private Placement, and is currently sourcing potential Placement Partner entities and expressions of potential interest from verified Accredited Investors, directly and via its website.
- Webtel.mobi is preparing for Recommencement of Unrestricted Global Operations upon conclusion of WM Holdings Inc.’s Private Placement.
Consequently, it is important to both Webtel.mobi and WM Holdings Inc. to clarify their positions, so as to remain separate from any adversarial interactions by any parties against each other.
As such – and as Webtel.mobi and WM Holdings Inc. have informed all relevant parties in writing – the following clarification is applicable:
- Webtel.mobi (Holdings) Limited (“WMHL”) and WM Holdings Inc. (“WMHI”) are entities that are 100% shareholder-owned, and are independent of corporate ownership, or affiliation with any other entity or entities.
- WMHL and WMHI do not and will not make any public comment – whether negative, positive or descriptive – regarding any other entity or entities, product, facilities or sectors; or enjoin in any actions by any parties against any other parties; publicly or privately.
- Any appropriately KYC’d entity or person – whether DCG, GBTC, entities that are stakeholders in any of those entities, or unrelated to any of those entities – may, at their own discretion and after their own appropriate due diligence, freely acquire Webtel.mobi TUVs, for their own personal or corporate portfolios or vehicles, with or without corporate interaction with WMHL or WMHI. All that is required is to join as a Member on the WMHL Platform or a Platform of any WMHL “VSMP” (Affiliate) in WMHL’s “TMG Global Alliance”.
In summary, neither WMHL nor WMHI will become involved with, nor make any statements regarding, nor in any way enjoin in any adversarial interactions with or against, any other party or parties.
WMHL and WMHI have their own well-planned and well-functioning agendas and timelines, which are proceeding smoothly. Their only interest at this time – and for the future – is the successful implementation and conclusion of WMHI’s Private Placement, and thereafter the successful Global Implementation of WMHL’s Recommencement of Global Operations.
Resources
Website of WM Holdings Inc.:
https://wmholdings.mobi
Website of Webtel.mobi (Holdings) Limited:
https://webtel.mobi/pc/
Research Paper “New Dimensions for the TUV in the Webtel.mobi System”:
https://webtel.mobi/media/info/new-dimensions-for-the-tuv-in-the-webtelmobi-system.pdf
Research Paper “Money and Credit: Potential Expansion of the WM System”:
https://webtel.mobi/media/info/money-and-credit-potential-expansion-of-the-wm-system-april-2021.pdf
Research Paper “Another Breton Woods Reform Moment: Let Us Look Seriously at the Clearing System”
https://webtel.mobi/media/info/another-bretton-woods-reform-moment-let-us-look-seriously-at-the-clearing-union.pdf
“TUVs as an Inflation and Currency Depreciation Hedge” Document:
https://webtel.mobi/media/info/webtel-mobi-tuvs-as-a-hedge-to-protect-against-currency-depreciation-and-inflation.pdf
“Recent Regulator’s Review of WMHL” Document:
https://webtel.mobi/media/info/22-12-07-confirmation-letter-regarding-the-gcra-review-of-wmhl.pdf
Video detailing Research on the Webtel.mobi System:
https://www.youtube.com/watch?v=XYBrCikUhn8
International Article on the Webtel.mobi System:
https://webtel.mobi/media/info/digital-currencies-and-instability-in-the-international-financial-system.pdf
“The TEL.mobi Group Global Alliance” Page:
https://webtel.mobi/pc/info/tmg-global-alliance/
Contact:
wm@thoburns.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/05c904c2-b22d-4eca-a035-161a191d8a8a
https://www.globenewswire.com/NewsRoom/AttachmentNg/adfacaec-0428-412b-b012-efb5ddd8d9ce
Photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress.
