TRWD Acquires Platform for Financial Services Division
TRWD Acquires Platform for Financial Services Division
NEW YORK--(BUSINESS WIRE)--Tradewinds Universal (OTCID:TRWD) today announced that it has completed the acquisition of a technology platform that the Company intends to integrate into its Financial Services Division.
Platform will support payments between entertainers and customers while allowing participating venues and management companies to retain applicable fees
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The acquired technology will serve as the foundation for a payment system utilizing forms of digital communication to facilitate transactions between entertainers and customers. The platform is not intended to operate primarily as a messaging application. Instead, its communications infrastructure will be used to connect private customer interactions with a structured payment process designed for the adult hospitality and entertainment industry.
Under the planned model, customers will be able to communicate with participating entertainers and initiate payments through a transaction system enabling operators to be able to retain applicable venue, platform, or management fees from transactions conducted through the system.
TRWD believes the platform can provide an alternative to informal peer-to-peer payment methods that circumvent policies, management participation, and other operational controls.
Payment functionality is expected to be implemented through qualified third-party processors and financial service providers and will remain subject to applicable laws, regulations, processor requirements, identity-verification procedures, tax-reporting requirements, and venue policies.
“This acquisition gives us a foundation to build a system around the way entertainers and customers already interact,” said Andrew Read, CEO of Tradewinds Universal. “Our objective is to create a system that ensures operators are not circumvented, thus increasing profits.”
TRWD has developed an immediate monetization plan for the acquired platform and expects commercialization efforts to begin promptly.
We intend to provide additional information regarding the platform and anticipated revenue projections in a forthcoming announcement.
About Tradewinds Universal
Tradewinds Universal (OTCID: TRWD) is a publicly traded holding company acquiring and scaling adult hospitality businesses. The Company is consolidating a fragmented industry under a public structure, in strategic alignment with Peppermint Hippo and affiliated brands. Its long-term goal is 100+ venues nationally.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding platform integration, development, payment functionality, monetization, accounting treatment, and projected revenue. Actual results may differ. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update them except as required by law.
Contacts
Rocco Fuerte
Investor Relations, Tradewinds Universal
(619) 483-1008
Rocco@TradewindsUniversal.com
