, a former managing director of Bermuda Commercial Bank and senior vice president and managing director, Global Markets, for Deutsche Bank Canada, has been appointed as the new president of CEO Creditz, Inc. the Canadian digital currency and loyalty payment service.

The Creditz system provides services to retailers, manufacturers, loyalty and gift card programmes, including point-of-sale and payment terminal manufacturers, merchant services, independent sales organisations, transaction processors and credit, debit and stored value card issuers.

?Barry Munholland will lead the company at this most exciting stage of our execution in the Canadian marketplace,? said David Vaters, chief executive officer of CEO Creditz.

?His skills as an executive and strategic manager are exactly what we were looking for.

Barry understands that the next generation of on-demand technologies will be clear winners in the near future.?

?The Creditz system integrates seamlessly into existing payment terminals and provides a compelling value-added proposition to merchants, manufacturers and consumers alike,? said Mr. Munholland.

?I am excited to be part of this revolutionary company and part of a growing global loyalty payment network.?

Mr. Munholland has managed substantial assets in a variety of roles and has been an executive with a leading Toronto-based venture capital exchange group with more than 300 venture capital members.

He was also principal consultant to Lowell Douglas Limited, a Canadian asset-based lending service, as well as a partner in QMW Capital Corporation?s Port Stanley Fund.

Mr. Munholland is a chartered accountant; he graduated from McGill University, with a B.Sc. degree, and subsequently earned a B.Comm in Accounting and Finance and an MBA from the University of Windsor. He is a member of the Canadian Institute of Chartered Accountants and the Institute of Chartered Accountants of Ontario.

He was previously a board director of the Bermuda Stock Exchange (1999?2000), and a member of the Board of Governors for the Bermuda Institute of Mathematics.