(Gibraltar, May 28, 2008) – Totally free and instant international bank-to-bank transfers are now possible with icBankTransfer, a system which uses a digital currency called iCoins which you can use to spend, send and receive money across the world. With the existence of icBankTransfer, merchants and non-merchants alike from all over the world can now do away with slow and expensive international transfer fees, resulting in great savings on their part.

icBankTransfer is a trading name of Spartan World Ltd – a company established to provide ‘thin wallet’ applications that link existing payment mechanisms to a system run by iCoins (www.iCoins.com) By converting money into iCoins, users can avoid the charges and delays normally involved in international bank transfers. iCoins retain their face value, meaning that if you buy an iCoin for US$1 or Euro 1, it’s always worth US$1 or Euro 1 in real-world money. iCoins can be made for payments of as little as 1 cent. There are no hidden charges whatsoever. Transferring iCoins between iCoins accounts, anywhere in the world, is always free.

icBankTransfer uses a network of international banks to handle transactions in 29 different countries with domestic settlement. Users only need to send and receive money via an icBankTransfer member bank in his own country and transfers will then be fast and free. All transactions are guaranteed, secure and user details are kept confidential.

Among the countries that icBankTransfer support are United Kingdom, Australia, France, Spain, Portugal, Sweden, Switzerland and even Singapore. Some banks might charge a minimal fee for eventually cashing in iCoins. The iCoins management team and its banking partners are continually negotiating with as many banks as possible in order to do away with those charges.

iCoins is the same backbone as used by the much-talked about Facebook application Coinjars (www.facebook.com/applications/Coinjars/6489937223). Coinjars is a place where digital cash can be stored and moved safely. This wallet application is also built on the iCoins platform. All iCoins are secured and underwritten by a licensed eMoney operation called a Treasury. The Treasury for Coinjars and icBankTransfer is located and licensed in the Isle of Man.

Users can access icBankTransfer and the Coinjars app via Facebook. icBankTransfer will also soon be available via a website at www.icBankTransfer.com.

To find out more details, visit www.iCoins.com or the Coinjars Facebook application at www.facebook.com/applications/Coinjars/6489937223

About iCoins

iCoins Limited (www.iCoins.com), based in Gibraltar, are developers and operators of an electronic cash system that can be integrated with existing 3rd party wallet servers. The iCoins system is a digital cash mechanism designed to allow cash transactions between disparate and unrelated Wallet systems in the digital era. iCoins are similar to bank notes. They can be acquired by a consumer on application to a suitable issuer (similar to a bank in the real world).

About Spartan World:

Spartan World Ltd is a company established to provide ‘thin wallet’ applications that link existing payment mechanisms to a system run by iCoins (www.iCoins.com). Spartan World is operated by Payment Systems Ltd, a leading payment provider owned by UK public listed company Waltech plc.

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FOR INQUIRIES, PLEASE CONTACT:

Sara Waller
sara@icoins.com

The application, which can be accessed at http://apps.facebook.com/coinjars and at its Facebook Page http://www.facebook.com/apps/application.php?id=6489937223&ref=s is a wallet application built on the iCoins platform, which includes a fully secured and licensed eMoney issuer.

Transferring of funds from one party to another on the Internet has to date required both parties to have wallets within the same system (such as Paypal). In the traditional banking world solutions such as IBAN – an international banking account number standard – provides a solution but is limited in that it only works between bank accounts. Moreover, transfers using IBAN (or SWIFT) are only credited once the actual funds are received by the receiving bank. This delay is inappropriate in today’s connected world. Other money transfer services such as Western Union and Moneygram provide international non-banking transfers. While these systems have proven to be useful in the offline world, these have not proven to be as useful in the ever growing online world.

Gibraltar-based iCoins aims to change all this with its system that provides the transfer mechanisms of SWIFT and IBAN, with real time execution, integrated within existing players in the online eWallet space. Facebook users can now enjoy the same security and freedom of cash movement through the CoinJars application.

Extending Coinars to provide a simple cash collection mechanism for small merchants on Facebook is a logical extension and is already in the works, according to iCoins CEO Adriaan Brink.

“We are extremely proud of CoinJars. It provides a showcase for our core iCoins secure digital cash technology. By providing the ability, through the CoinJars application,to transfer iCoins quickly, safely and easily between Facebook users and also to and from any places outside the Facebook system that support iCoins, the exciting potential of iCoins becomes apparent. These external places include merchants and also Payment Providers which facilitate the purchase and redemption of iCoins. We’re very optimistic that iCoins, through integrated eWallets such as CoinJars, will revolutionize the way we pay online.” Brink emphasized.

The CEO also underscored the fact that the user’s money (while in iCoin format) is all underwritten by a licensed eMoney operation (a “Treasury” in iCoins-speak). The Treasury for CoinJars is Mintflow Limited in the Isle of Man.

“The purpose of this mechanism is not to replace the credit card and other payment methods such as Paypal in normal merchant payments, but to facilitate payments that would normally be too expensive (small payments or between distant places) and to facilitate payments between disparate systems,” Brink said.

With the presence of iCoins and integrated eWallets such as CoinJars, people all over the world are given more viable, cost-efficient choices in dealing with online payments and money transfers.

Developers wishing to integrate with the iCoins digital money platform are advised to visit www.icoins.com for more information. iCoins is actively pursuing integrations with as wide a variety of payment platforms as possible.

More information at www.icoins.com & Facebook http://www.facebook.com/group.php?gid=21145115323

About CoinJars

CoinJars is iCoins’ application at social networking website Facebook. It is a wallet application built on the iCoins platform, which includes a fully secured and licensed eMoney issuer. The application can be accessed at http://apps.facebook.com/coinjars and at its Facebook Page http://www.facebook.com/apps/application.php?id=6489937223&ref=s

About iCoins

iCoins, based in Gibraltar, are developers and operators of an electronic cash system that can be integrated with existing 3rd party wallet servers. iCoins is a digital cash mechanism designed to allow cash transactions between disparate and unrelated Wallet systems in the digital era. iCoins are similar to bank notes. They can be acquired by a consumer on application to a suitable issuer (similar to a bank in the real world).

iCoins Limited
www.icoins.com
3 Garrison House
Library Ramp
Gibraltar

Tel. +350 48595
Fax No. +350 52911

FOR MEDIA INQUIRIES PLEASE CONTACT:

Sara Waller- Marketing Manager, iCoins Ltd
E: sara@icoins.com
Tel+ 350 48595

NO2PB is comprised of members of the Gibraltar community who are concerned with various environmental issues including the town’s seemingly endless dependency on plastic bags. Inspired by Modbury, a town not that different in size compared to Gibraltar that became the first plastic bag-free town in Europe, NO2PB highlighted the government’s pivotal action in kick-starting environmental and ecologically-conscious projects as can be observed in several counties and regions within Ireland, France, United Kingdom, Germany, Switzerland, Italy and most recently China.

The main reasons behind the group’s inception include the following:

- Plastic bags are generally non-recyclable and those that are tend to be either incinerated or buried within landfills;
- Plastic bags are hardy and resilient and whilst this make them the ideal transport medium for our shopping it is also the reason for their recalcitrance;
- Plastic bags take hundreds of years to degrade naturally in the environment, making them an eyesore as well as endangering our fauna that on occasions mistake plastic bags for food;
- Plastic bags also tend to be incinerated with the rest of our waste and therefore contribute to the emission of toxic gases into the atmosphere

To beef up their campaign, NO2PB has launched an online drive via the popular social networking website Facebook. Dubbed as the “Say No to Plastic and Yes to Reusable Bags,” the ongoing campaign aims to reach out to at least 30,000 people connected to Gibraltar. NO2PB hopes to get at least 50 percent of the said number to sign the petition found at http://www.facebook.com/pages/No2PlasticBags/10374416156

NO2PB’s campaign banners a pledge to “Bring Your Own Bag” wherein consumers are encouraged to bring reusable bags to the shop or supermarket.

NO2PB says that by doing this, consumers are doing their share in saving wildlife (as hundreds of thousands of marine creatures die every year from eating plastic bags mistaken for food), saving trees (thousands of trees are needed to make all of the paper bags used in Gibraltar annually), reducing waste (an estimated 4 billion plastic bags end up as litter globally each year) and reducing dependency on oil (thousands of barrels of oil are required to make millions of plastic shopping bags used yearly in Gibraltar alone) NO2PB’s campaign also asserts that if every Gibraltar consumer brought their own reusable bags when shopping, tens of tonnes of harmful carbon dioxide will be reduced.

NO2PB has announced that their group is in the process of organising a press conference where they hope to address any questions that the public may have.

For more information, send email to no2pbgib@gmail.com

About No to Plastic Bags – Gibraltar:

No To Plastic Bags (NO2PB) is a campaign group set up in Gibraltar. Comprised of environmentally-conscious and concerned community members, the group aims to make Gibraltar a plastic bag-free town. The group also has an ongoing “Say No to Plastic and Yes to Reusable Bags” campaign via the popular social networking website Facebook. The objectives of the campaign include saving wildlife and trees and reducing waste. The campaign also aims to trim down dependence on oil as thousands of oil barrels are needed to make millions of plastic bags for use in Gibraltar alone. For more information, please contact NO2PB through email address no2pbgib@gmail.com

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FOR MEDIA INQUIRIES:

Group: Email. no2pbgib@gmail.com
Ernest Teuma: Tel Nos. (H) +350 20074467 / (M) +350 54018805
Lyana Armstrong Emery: Email. lyana1@gmail.com