Cascadia Blockchain Group, a company looking to develop blockchain applications in FinTech, has put out an update responding to the coronavirus situation.
According to a press release, the group’s management has been keeping on eye on the pandemic, and been following different guidelines presented by local governments.
The President and Chief Executive Officer of the Cascadia commented on the matter:
“We are fortunate enough to be in a business which enables our team to continue to work remotely in a safe environment. Our team has been able to continue executing our business strategy during this unprecedented time. We do not anticipate any delays due to COVID-19 on development of our licenced cryptocurrency exchange, Eurasia Blockchain eXchange (“EBX”) (refer to news release dated January 17, 2020). Meanwhile, senior management of the head office has voluntarily suspended their salary payment during the pandemic to minimize cash outflow”
On top of this, the group has received the approval to “grant five unrestricted common shares of Eurasia Blockchain Fintech Group Limited” to its director, Tilektes Adambekov. Thanks to Adambekov, the Eurasia Fintech Group received two licenses necessary to continue operating in their place of founding. That group is, of course, a subsidiary of Cascadia itself, and they’ll hold around 95.24% of it after this distribution.