Cuentas Inc. announced that it has hired Jay Adams as the new Chief Executive Officer of Cuentas Mobile, a wireless prepaid service provider on one of the fastest 5G networks in the US. Adams previously held executive positions at IDT Corporation and Kare Distribution, where he consistently grew annual revenue to more than $200 million. Adams has over 25 years of experience in the prepaid debit card, phone card and wireless industries and has successfully developed innovative communications products with an emphasis on the convergence of emerging markets and technologies.

He has negotiated joint venture agreements to leverage the strengths of distribution networks including building one of the largest Point Of Sale (POS) distribution networks of bodegas and convenience stores. Adams also served as executive of Hispanic-focused prepaid companies Vivaro and Sakon and provided millions of customers with Prepaid Phone Cards and Financial Services, reaching over 50,000 stores in major metropolitan areas. These are the same customer profile and target markets that the Cuentas family of products is serving.