BEIJING, July 1, 2019
/PRNewswire/ -- MMTEC, Inc. (Nasdaq:MTC) ("MMTec" or the
"Company") a China based
technology company that provides access to the U.S. financial
markets, announces the acquisition
of a 49% interest in a newly-formed entity called Xchain Fintech
PTE.LTD., Singapore corporation.
The Company was not required to make a substantial investment in
Xchain Fintech PTE.LTD. Xchain
Fintech PTE.LTD. has been formed for the purpose of providing
technical support for the construction and development of new solutions for the existing problems
of the traditional financial industry, the difficulty experienced
by investors in investing and allocating investment assets
globally, and the protection of funds and investments by using
advanced technologies, such as artificial intelligence, big data
analysis and blockchain.
ABOUT MMTEC, INC.
Headquartered in Beijing,
China, our Company was founded on January 4, 2018. We have developed and deployed a
series of platforms, including the ETN Counter Business System, the
PTN Private Fund Investment Management System, the Personal Mobile
Transaction Client System, the PC Transaction Client System, the
Individual and Institutional Integrated Account Management System,
and the Quantitative Investment Transaction Platform, which
comprise a business chain that enables Chinese language speaking
hedge funds, mutual funds, registered investment advisors,
proprietary trading groups, and brokerage firms to engage in
securities market transactions and settlements globally. For
additional information about the Company please refer to its
corporate website at http://www.51mm.com.
FORWARD-LOOKING STATEMENTS
This press release may contain certain "forward-looking
statements" relating to the business of MMTEC, Inc. and its
subsidiary companies. All statements other than statements of
historical fact included herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding the Company's ability to
meet its projected output for the term of the supply contract; the
general ability of the Company to achieve its commercial
objectives; the business strategy, plans and objectives of the
Company and its subsidiaries; and any other statements of
non-historical information. These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
uånknown risks and uncertainties. Although the Company believes
that the expectations reflected in these forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
Investors 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 at 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.
For more information please contact:
China Investor Relations:
Fan Wang
E-Mail: wangfan@xgujia.com
Tel: +86 10 5617 2312
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SOURCE MMTEC, Inc.