NEW YORK, July 23, 2018 /PRNewswire/ -- Seven Stars Cloud
Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), a leading
global fintech firm focusing on digital asset production and
distribution, today announced that the Company has successfully
entered into an exclusive agreement with the China Venture Capital
Research Institute ("CVCRI") and its subsidiaries.
As a result, of this strong partnership, SSC will be able to
provide the following asset classes and fintech services to
financial markets:
- Fractionalization and securitization in China, to create new fixed income classes that
can be traded on government designated exchanges within
China. These asset classes are
exclusive to SSC.
- Regulated products and assets, created globally, and traded on
regulated exchanges outside of China - such as DBOT (Delaware Board of Trade) with whom SSC already
has a strong relationship with, amongst others.
- Tokenization of these asset classes, including already issued
Real Estate Investment Trusts (REITs) and Asset-backed Securities
(ABS) will be tokenized and traded on regulated digital asset
exchanges, outside of China.
CVCRI is uniquely supported by Chinese regulators and
authorities, in order to innovate and pioneer next-generation
efforts across the above asset classes. As such, they have
decided to work on an exclusive basis with SSC, given SSC's unique
and proprietary technology platforms, fintech ecosystem, and vast
global reach.
As a result of the strong partnership, SSC will become the sole
provider of fintech services for these assets, including but not
limited to large-scale commercial real estate and properties held
by leading insurance companies, large investment funds, and other
fixed income suitable products. SSC will work with CVCRI to develop
products for the fixed income asset class and facilitate their
sales and trading process on government designated exchanges within
China. This exclusivity allows SSC to create significant
competitive advantages and barriers to entry, as SSC is the only
company in the world that has access to this class of fixed income
assets.
The underlying technology that SSC will use for these assets is
part of the SSC fintech ecosystem, which includes but is not
limited to, Velocity Ledger ("VL"), a leading blockchain-enabled
security token Issuance and secondary trading technology platform,
and Plutos, BBD (Big Business Data)'s dynamic ontology-based AI
engine. Plutos serves as a super intelligence system that collects
mass data and carries out data processing to produce high value
indexes and product pricing information.
The partnership will provide a full value chain of fintech and
asset digitization services. These services will include
AI-enhanced rating and risk management services, blockchain-enabled
fractionalization, securitization and tokenization, and
distribution and trading services through banks and security broker
dealer networks in China, with the
ability to extend the sales and trading globally.
As the partnership continues to develop, SSC's fintech ecosystem
will also be capable of digitizing and tokenizing existing ABS and
REIT products on a global basis. While the Chinese market has an
abundance of quality illiquid assets such as large-scale commercial
real estate and properties held by leading insurance companies,
large investment funds, and other fixed income suitable products,
it lacks the infrastructure to support a liquid fixed income market
that is accessible to retail and institutional investors.
The AI and blockchain-powered services provided by SSC further
enables the current global digital asset revolution, as various
industry verticals and financial markets enter into an era of
"smart" and decentralized asset products. SSC is
well-positioned to capitalize on this opportunity by developing
these markets and unlocking tremendous value. In effect, SSC is
creating a new digital asset ecosystem and the supporting market
across these asset classes, thereby "unlocking" their liquidity
premium. Furthermore, SSC and CVCRI will undertake their
activities in full compliance with regulators.
China Venture Capital Research Institute (CVCRI) was founded in
July 2003 with its headquarters in
Guangzhou and operating center in
Shenzhen. With a status of a
National Think Tank in China, it
has undertaken research topics and market experiments commissioned
by various national and local government agencies. CVCRI is also
the publisher of the National Venture Investment and
Entrepreneurship Year Book and the organizer of annual conferences.
CVCRI provides advisory services to the financial industry and is
the most recognizable brand of Chinese financial service
market.
Madam Ding Jihong, President of CVCRI, stated that the
establishment of this partnership with SSC is a meaningful step
towards fintech innovation in China. The relationship will create the
liquidity for large financial institutions and asset owners through
both the creation of fixed income products and sales and trading
through government designated and approved channels and platforms.
All the activities under this relationship will be carried out and
executed under close guidance from regulators. This exclusive
partnership could unlock great value for current illiquid portions
of investment funds in China, which reached by end of June a
total 73,854 funds with total Assets Under Management (AUM) of
$1.88 trillion USD. For large
insurance companies holding commercial real estate, the untapped
fixed income market value grows much larger.
Dr. Bruno Wu, Chairman and CEO of
SSC, commented "SSC is bringing together the world's best
underlying technologies that enable leading fintech and asset
digitization services. We have also been able to bring aboard an
amazingly talented team, representative of top talent in
New York, London, and other locations globally to
execute our strategy. We are thrilled to execute on this
opportunity with CVCRI to deliver next generation fixed income
product creation and distribution, utilizing next-generation
fintech and AI technologies. SSC is committed to leveraging its
newly acquired Global Headquarters for Technology and Innovation in
West Hartford, Connecticut to
build out similar fintech service centers across the world."
About Seven Stars Cloud Group, Inc.
(http://www.sevenstarscloud.com/)
SSC is aiming to become a
next generation Artificial-Intelligence (AI) &
blockchain-powered, fintech service company, focusing on digital
asset production and distribution. The Company facilitates and
enables the transformation from traditional financial markets into
the asset digitization era. SSC acts as the manager and
service provider of an ecosystem for securitization and digital
currency tokenization as well as trading system integration.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements."
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a
result of a variety of factors, including those discussed in the
Company's periodic reports that are filed with the Securities and
Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements.
Media Contacts
Seven Stars Cloud
Eric Soderberg, Forefront
Communications
Phone: 914-414-2884
Email: eric@forefrontcomms.com
IR Contacts
Federico
Tovar, CFO Seven Stars Cloud
Chad Arroyo, CMO Seven Stars
Cloud
SOURCE Seven Stars Cloud Group, Inc.
Email: ir@sevenstarscloud.com
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SOURCE Seven Stars Cloud Group, Inc.