Mobilum Technologies Launches Crypto Off-Ramp and Signs MOU with PhyloPay

VANCOUVER, BC, October 7, 2021 - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE:MBLM) (OTC:MBLMF) (FRA:C0B), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, is pleased to announce the launch of its crypto-to-fiat off-ramp product via gift cards, debit and credit cards.

The off-ramp compliments Mobilum’s fiat-to-crypto on-ramp, completing the ecosystem with functionality to convert digital assets back to fiat currency through gift cards from major retailers across 80 different countries with over 2,000 retail brands without any fees.

“This new product feature opens up a significant revenue stream for the Company, and we are excited to see the continued customer and market demand for these services,” said Mobilum OÜ CEO Wojciech Kaszycki. “Off-ramp services are an evolving and core part of our product strategy, our goal is to ensure our partners and customers have a secure, compliant and efficient payments ecosystem to entrust and move in and out of.”

Mobilum is also excited to announce that its wholly-owned subsidiary, XPort Digital Limited ("XPort"), has signed a Memorandum of Understanding with PhyloPay, an online back office solution that offers accounting, vendor management, payroll and procurement services. The agreement would see XPort integrate its simple fiat-to-crypto and crypto as a form payment acceptance widget into PhyloPay's back-office solution. On a separate engagement XPort Digital and PhlyoPay will establish a long term partnership and new entity with the intent to offer a global back office solution to process crypto and fiat throughout the platform's various features.

About Mobilum Technologies Inc.

Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) a technology driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-crypto and crypto-to-fiat with Mobilum's on-ramp and off-ramp solutions. Mobilum enhances shareholder value by building new technologies to manage digital assets. Mobilum has offices in Canada, Hong Kong, Poland and Estonia. For further information please go to Mobilum.com.

About XPort Digital Ltd.

XPort Digital Limited is a merchant services fiat-to-crypto on-ramp gateway solution offering credit card processing for cryptocurrency exchanges, wallets and other cryptocurrency businesses. XPort's Buybitfast.com's on-ramp solution provides competitive cryptocurrency pricing and low transaction fees for retail customers while XPort's B2B plug-and-play customizable widget can be set up within hours for merchants to process credit card transactions instantly and securely. Merchants may also use XPort's Javascript or mobile SDK (coming soon) to quickly integrate directly with their own website or mobile application.

For further information: please contact Soy Garipoglu, Investor Relations, (778) 990-8985 or via email at [email protected].

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.