Nova LifeStyle Expects to Enhance Sales Through the Acceptance of Bitcoin and Other Major Cryptocurrency on Its Developing Blockchain Distribution Platform

LOS ANGELES, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Nova LifeStyle, Inc. (NASDAQ:NVFY) ("Nova LifeStyle" or the "Company"), a leading U.S.-based, innovative designer and distributor of modern LifeStyle home products, today announced that the Company intends to begin accepting Bitcoin and other major cryptocurrency as it further develops its product distribution platform.

Nova LifeStyle recently announced its formation of a wholly-owned subsidiary “I Design Blockchain Technology Inc.”  The Company expects to integrate a community of product designers, users, interior decorators, customers and suppliers surrounding Nova-branded products built on Blockchain technology.

“Nova LifeStyle has continued to receive inquiries from customers on availability of various payment options as we develop our e-commerce and product distribution platform, including Bitcoin and other major cryptocurrency.  Nova Lifestyle continues to explore and adapt to the newest development in Blockchain technology to expand Nova-branded products and deepen brand loyalty,” said Ms. Tawny Lam, CEO of Nova LifeStyle. 

About Nova LifeStyle

Nova LifeStyle, Inc., a NASDAQ Global Market listed company headquartered in California, is a fast growing, innovative designer and distributor of modern LifeStyle furniture; primarily sofas, dining rooms, cabinets, office furniture and related components, bedrooms, and various accessories in matching collections. Nova's products are made in the US, Europe, and Asia that include LifeStyle brands such as Diamond Sofa, Nova QwiK, and Bright Swallow International. Nova's products feature urban contemporary styles that integrate comfort and functionality, incorporating upscale luxury designs appeals to middle and upper middle-income consumers in the U.S., China, Europe, and elsewhere in the world. Visit Nova LifeStyle’s website at www.NovaLifeStyle.com.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Nova's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Nova's filings with the Securities and Exchange Commission.

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