Partnership allows Seven Stars Cloud to quickly and efficiently digitize real-world
assets via proven blockchain technology to create new financial markets
NEW YORK, NY, July 10, 2018 (GLOBE NEWSWIRE) -- 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 a long-term relationship and strategic licensing agreement with New York-based
Fundamental Interactions, a world class provider of enterprise market center technology.
Through this agreement, SSC will leverage core Fundamental Interactions technology and the Velocity
Ledger platform to support the tokenization, secondary trading and settlement of new blockchain-based
securities. The Velocity Ledger platform is in operation for various approved entities by the
and Exchange Commission (SEC) and FINRA.
While Velocity Ledger has been designed to support U.S. securities tokens, OTC crypto currencies, and
real estate securities, it has unlimited potential to manage the issuance, trading and settlement of
digital assets across jurisdiction and across asset classes (securities and non-securities). Velocity
Ledger is a blockchain-based, software-as-a-service (SaaS) platform that operates as a private
blockchain solution and interacts with all of the major public blockchains.
Seven Stars Cloud will work closely with issuers and underwriters of securities in order to source a
wide array of financial products. Post issuance, these financial products will undergo a comprehensive
rating system to provide transparency into the underlying assets. Additionally, SSC will secure
institutional market makers and traders to join Velocity Ledger, providing new product exposure and
liquidity to previously illiquid assets. SSC will also leverage its partnership with BBD Digital
Group, a leading provider of Artificial Intelligence-based big data solutions to support ratings and
risk management of these newly created digital assets.
There are a myriad of benefits afforded by tokenizing securities via Velocity Ledger. These benefits
include new product creation and market exposure, competitive fees, fast deal execution, access to
institutional investors and broker dealers. In addition to these market and product specific benefits,
Velocity Ledger automates key service functions to reduce the number of middlemen and service
typically involved in a securities transaction. At its core, Velocity Ledger enables highly
immutable, and auditable transaction activity and reporting.
Commenting on the partnership, Bruno Wu, Executive Chairman & CEO of SSC, said: “With Velocity
we will work with our partners to develop marketplaces for previously illiquid and un-tradeable
We have our eyes set on the fixed income, real estate, venture capital, and private equity markets,
amongst various other securities and asset classes. By combining the power of Velocity Ledger with
wide distribution capabilities, we will bring tremendous efficiencies to the capital formation
narrow bid-ask spreads, and reduce the time and costs for closing and settling transactions via
blockchain and AI technology.”
“Our partnership with Fundamental Interactions represents a flagship opportunity in SSC’s ability to
penetrate the tokenized security markets. We are thrilled to be working with Fundamental Interactions
harness the power of blockchain and spread the adoption of security tokens across industry.” said
Shawn Sloves, CEO of Fundamental Interactions, added, “After several years of hype, blockchain-based
solutions are well on track to deliver on their considerable promise. We are excited to be working
Bruno and his team at SSC and look forward to extending the benefits of Velocity Ledger to a variety
new liquid and illiquid asset classes.”
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
"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
incorrect. You should not place undue reliance on these forward-looking statements, which speak only
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.