Released on: February 19, 2008, 10:29 pm

Press Release Author: Asterisk Events and Communications

Industry: Consumer Services

Press Release Summary: (GIBRALTAR - February 20, 2008) - Now lending cash, paying
back a friend, giving to charity and shopping via the popular social networking
website Facebook has been made ten times easier as iCoins Limited recently launched
its Facebook application CoinJars, a place where digital cash can be stored and
moved safely.



Press Release Body: 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


Web Site: www.icoins.com

Contact Details: Sara Waller- Marketing Manager, iCoins Ltd
E: sara@icoins.com
Tel+ 350 48595
Fax No. +350 52911