iQSTEL Completes the Acquisition of Blockchain Solutions Developer itsBchain

NEW YORK, NY, Feb. 24, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — iQSTEL Inc. (IQST) today announced that it has acquired a 75% stake in itsBchain, a blockchain solutions provider with a varied portfolio of projects. This will provide in-house developed telecom blockchain solutions for carrier, corporate and retail markets.

Mr. Iglesias, the Company’s CEO, stated: “itsBchain is uniquely positioned to develop telecom applications based on smart contracts and blockchain technologies. Mobile number portability and carrier wholesale VoIP, SMS and Data payment solutions are just two of the projects itsBchain has under development. We believe the synergy between our subsidiaries, as well as our existing clientele, will greatly benefit from this new acquisition.”

itsBchain will be headed by Mr. Miguel Scavo as the COO. Mr. Scavo is a 20-year telecom veteran with extensive experience in the Latin American and world-wide telecom markets. Additionally, Mr. Scavo has a Masters in blockchain technology from the Blockchain Institute of Technology of Barcelona, a school of EADA (https://www.eada.edu/en), including various blockchain and smart contract specialized courses.

“We are pleased to appoint Mr. Miguel Scavo as COO of itsBchain as well as the new CIO of iQSTEL, further enhancing the synergy between our portfolio companies. Mr. Scavo will be helping itsBchain and iQSTEL develop next-generation blockchain and Artificial Intelligence (AI) telecom solutions. itsBchain has several software products completing the alpha testing stage and we are confident we’ll have beta-ready solutions to offer our Tier-1 carrier clients in the coming days/weeks,” continued Mr. Iglesias, the Company’s CEO.

About iQSTEL Inc.:

iQSTEL (IQST) www.iQSTEL.com is a technology company offering a wide array of services to the Telecommunications Industry. These include services to International Long-Distance Telecommunications Operators (ILD Wholesale),…

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