Blockchain Foundry and ARCHOS Announce Strategic Partnership

Blockchain Foundry (CSE:BCFN) has announced that it and ARCHOS S.A. (EPA:JXR) have entered into a strategic partnership covering blockchain hardware solutions and related software infrastructure.

As quoted in the press release:

ARCHOS recently announced the development of the SAFE-T Touch, a ground-breaking innovation in the hardware wallet segment. The SAFE-T Touch offers a highly secure hardware wallet platform, embedding a trusted execution environment incorporating ProvenCore technology from Prove & Run S.A.S., a leading European software security firm. This focus on security, combined with a user-friendly mobile wallet interface, provides SAFE-T Touch users with the best of both worlds; a highly secure environment that is also convenient and easy to use.

In consideration of the Agreement, BCF will grant ARCHOS 3.7 million common shares, representing approximately 5% of the outstanding shares of BCF. In addition, ARCHOS may be entitled to cash or share-based consideration of up to 10% of the gross revenue earned by BCF from ARCHOS products during 2019, based upon milestones including the appointment of BCF as ARCHOS’ preferred partner for blockchain development services. The Agreement and strategic partnership are arm’s length.

“The BCF team has been developing products and services for blockchain since 2012. We are impressed by ARCHOS’ strategy and believe that its developments are setting new standards for hardware wallets, which are key to building a secure blockchain environment. BCF’s dedicated sales and marketing team will be actively targeting North American cryptocurrency asset holders and the cryptocurrency community in order to promote these innovative products and associated services platforms,” stated Dan Wasyluk, CEO of Blockchain Foundry.

Click here to read the full press release.