Life Clips Subsidiary BelfricsFX Offers Enhanced Onboarding Experience For Leveraged Forex Instruments and Crypto Derivative Contracts In 8 Countries

AVENTURA, Fla., Jan. 14, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) announced today its BelfricsFX (the “Company”) subsidiary has enhanced its onboarding experience for Leveraged Forex Instruments and Crypto Derivative Contracts to its customers in 8 countries.

BelfricsFX management believes a quality client onboarding experience is critical for long-term growth. As a result, the Company listened to its clients and has been taking measures to address the needs and wants of retail traders. By enhancing the digital client onboarding experience for its customers, BelfricsFX expects to efficiently support its rapidly growing customer base trading in cryptocurrencies, Forex and cryptocurrency derivatives.

The UI/UX (User Interface/User Experience) of the BelfricsFX apps available in both Google Play (Android) and Apple’s App Store have been updated to meet growing demand, and today’s customer expectations and requirements. The UI/UX is a crucial aspect of the BelfricsFX mobile application, providing an amazing user interface and experience that makes the app more interactive and engaging.

In a September 29, 2021 press release, Belfrics International Limited (Labuan) Malaysia, which holds a money broker license from Labuan Financial Services Authority, announced it would go live offering Leveraged Forex Instruments and Crypto Derivative Contracts to its customers on Saturday, October 2, 2021. Since that time, BelfricsFX has rolled out its offering of Leveraged Forex Instruments and Crypto Derivative Contracts to its customers in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, Bahrain and UAE. BelfricsFX is a digital asset trading platform that uses a mandated KYC component to identify and verify its users. BelfricsFX’s proprietary Belrium KYC Verification System is used for KYC identification and verification process for BelfricsFX. Life Clips expects to update investors on Leveraged Forex Instruments and Crypto Derivative Contract volume in the coming week.

Praveen Kumar, Chief Executive Officer and Founder of Belfrics, commented, "The Customer Relationship Management platform is at the center of all onboarding efforts for our customers. As BelfricsFX expanded into multiple jurisdictions, these changes needed to be reflected on the CRM. Strict regulations and compliance protocols by global regulatory bodies mean different limits to leveraged trading, varied KYC requirements, and a list of prohibited assets for trading, based on the country involved. The need to meet high customer expectations while adhering to regulatory and business requirements is a challenge for any organization. We believe our customers will be pleased.”

Robert Grinberg, Chief Executive Officer of Life Clips, said, “Inherently, crypto was meant to be less transparent than other transactions. BelfricsFX is making every effort to follow the same KYC directives as other, similar financial platforms." Mr. Grinberg continued, "Transforming the client onboarding process is a top priority for leading enterprises worldwide. BelfricsFX intends to set a new standard in client experience, onboarding speed, and operational excellence in the markets it serves.”

About Us

Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the Yuru voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by employers to raise awareness of employees’ mental health. Cognitive Apps’ Yuru is a 3-in-1 tool developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Yuru is available on Apple‘s App Store.

For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com

Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.

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