Fernhill Corp (OTC Markets:FERN), a Web3 Cloud Based Infrastructure platform focused on providing APIs for digital asset trading, NFT marketplaces and data aggregation solutions, is pleased to provide the following corporate update.
Fernhill is excited to announce the launch of another complementary service as part of our broader branding initiative for the Fernhill subsidiary, MainBloq. The new offering is called LendBloq. LendBloq is part of a larger strategy to roll out several plug and play, modular building Bloqs that will comprise the MainBloq ecosystem. LendBloq is a new Digital Asset Lending offering for hedge funds, family offices, trading firms, miners and institutional investors or for anyone that wants to monetize their Digital Asset holdings without selling them. Interested parties can get highly competitive non-recourse loans against their digital assets such as BTC, ETH, BCH, etc.
In partnership with a corresponding multi-billion dollar international financial institution that specializes in lending against digital assets, several programs are available. These loans are designed as non-recourse loans, with competitive low fixed rates, high LTVs and have flexible margin maintenance structures. Having access to well established lending partners will allow MainBloq to provide customized solutions with some of the most competitive rates and terms found in the digital asset lending industry today. Targeted loan sizes range from $1,000,000 – $25,000,000+ with quick closings in as little as 5 – 10 days.
“We believe there is a substantial gap in the marketplace to serve small to large sized trading firms, family offices, miners and hedge funds seeking liquidity with a well managed digital asset lending solution that is custom designed to meet a company’s specific needs. Partnering with one of the leading firms in the alternative lending space is a great fit with our current service offerings and we look forward to serving our clients at a higher level and providing them as much value as possible,” stated Chris Kern, Fernhill’s Chairman and CEO.
Ryan Kuiken, MainBloq’s Founder and President commented “The addition of lending capabilities has arrived at a critical time. With the market heating up, we are seeing renewed interest in and around the space. This lending offering serves as another block of the MainBloq platform and drives us closer to bringing our full vision to fruition as a leading digital asset infrastructure company delivering next-generation financial services and technology solutions.”
In other housekeeping news, Fernhill would like to address the departure of the former CTO of its wholly-owned subsidiary, MainBloq. We provide an excerpt of the disclosure made in our most recent Annual Report:
On January 6, 2023, we terminated the employment of the former CTO of Qandlestick LLC, (a wholly owned subsidiary of the company), for cause. On March 6, 2023 the Company filed a complaint in Clark County, Nevada District Court against the former employee and his wholly owned company. The Claims include Breach of Fiduciary Duty, Disparagement and Conversion. The relief sought has yet to be determined or finalized.
Given the sensitive nature of this case, the Company is unable to provide additional details at this time.
The Company also further confirms that it is still focused on up listing to a senior exchange and is in ongoing discussions with potential strategic partners and acquisitions.
About Fernhill:
Fernhill Corp is a Web3 Cloud Based Infrastructure provider focused on providing APIs for digital asset trading, NFT marketplaces and data aggregation solutions. Fernhill is a Signatory Member of the Crypto Climate Accord (CCA) and a Principal Member of the Metaverse Standards Forum.
For all official Fernhill corporate information, please refer to our filings, news and updates on the following resources:
About MainBloq:
MainBloq, a division of Fernhill Corporation ($FERN), is a digital asset connectivity platform that is integrated with leading digital asset trading venues exchanges to serve the needs of institutional clients around the world. MainBloq offers a modular platform including a smart order router, suite of execution algorithms, WebSockets & REST gateway, and consulting services to help banks and hedge funds simplify and optimize their trading strategies. For more information please visit the MainBloq Website www.mainbloq.io
MainBloq Facebook
Company Contact Information: info@fernhillcorp.com or sales@mainbloq.io
Any other links are not official & should be taken as such nor have anything to do with Fernhill Corp or its subsidiaries.
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Forward-Looking Statements
This release includes ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute ‘forward-looking statements.’ Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words ‘estimate’, ‘project’, ‘intend’, ‘forecast’, ‘anticipate’, ‘plan’, ‘planning’, ‘expect’, ‘believe’, ‘will likely’, ‘should’, ‘could’, ‘would’, ‘may’ or words or expressions of similar meaning. Such statements are not guaranteeing of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company’s ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company’s limited operating history, the limited financial resources, domestic or global economic conditions, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced vendors, services or components, and various other factors beyond the Company’s control.