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DMG Blockchain Solutions - Sheldon Bennett, CEO
Sheldon Bennett, CEO
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  • DMG Blockchain Solutions Inc. (DMGI) has completed several test transactions with Zodia Custody using DMG’s Blockseer platform from its Core+ suite of services
  • Earlier this week DMG used a test net environment to initiate a new function called Petra, which gives subscribers enhanced optionality when using crypto transactions
  • The options provided by Petra will include the provision of KYC on wallets, AML checks on transactions, and routing transactions through carbon neutral mining facilities
  • As a part of the tests conducted, transactions were routed using Petra and tagged as a “green” to prioritize carbon neutral miners giving one example of the optionality provided by the platform
  • Petra’s subscriptions are based on a percentage of the dollar value equivalent that is preformed through the system
  • DMG Blockchain Solutions Inc. (DMGI) is up 0.85 per cent, trading at $1.18 per share at 2:07 p.m. ET

DMG Blockchain Solutions Inc. (DMGI) has completed several test transactions with Zodia Custody using DMG’s Blockseer platform from its Core+ suite of services.

Earlier this week DMG used a test net environment to initiate a new function called Petra, which gives subscribers enhanced optionality when using crypto transactions.

The test transactions were carried out with Zodia Custody.

The addition of optionality will provide subscribers with a choice in how they want to proceed with transactions.

The options provided by Petra will include the provision of KYC on wallets, AML checks on transactions, and routing transactions through carbon-neutral mining facilities.

This marks an important step in the development of DMG’s regulatory and compliance offerings under Blockseer platforms.

Once completed, Petra’s launch will provide options focused on the Bitcoin blockchain.

As a part of the tests, transactions were routed using Petra and tagged as a “green” to prioritize carbon-neutral miners giving one example of the optionality provided by the platform.

In the future options may include risk ratings of counterparties and geo-location.

Petra’s subscriptions are based on a percentage of the dollar value equivalent that is performed through the system.

Sheldon Bennett, CEO of DMG, commented on how the concept of Petra has come to life.

“We did not have the technology to bring this concept to the market until now. Using core technologies in Blockseer’s walletscore, explorer and helm, we have been able to create a new and very relevant product for companies and individuals who have particular interest in governance, regulatory issues, and ESG goals aligned with optionality that Petra permits,” he said.

Zodia Custody is an institutional-grade crypto asset custody solution based in London, UK and offers its services internationally that provides services for Bitcoin and Ethereum.

DMG is an environmentally conscious vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem.

DMG Blockchain Solutions Inc. (DMGI) is up 0.85 per cent, trading at $1.18 per share at 2:07 p.m. ET.

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