NEW YORK, Aug. 17, 2017 /PRNewswire/ -- Seven Stars
Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company" or "Seven
Stars Cloud"), today provided an update on NextGen Exchange Group
(NextGen").
After passing initial testing, SSC's NextGen which will be the
backbone of SSC's Tokenization and Exchange Platform (and will fall
under SSC's 2nd Engine, Digital Finance Solutions) will
be launching in Q4 2017. As a reminder, SSC announced the
purchase of 51% of NextGen Exchange Group on June 12, 2017.
http://www.prnewswire.com/news-releases/wecast-to-purchase-51-of-nextgen-exchange-group-300472239.html
SSC's four monetization methods for asset-backed securities
("ABS") are: 1. ICO: tokenization or token issuance; 2. Index
issuance and exchange; 3. ETF issuance and exchange; 4. Derivative
issuance and exchange. What makes these exchanges different
and the first of their kind, is that they combine all of the
following: they are FINRA- and SEC-regulated, the products are
developed using Big Data & Artificial Intelligence and finally,
all ABS products are backed by real assets from industries
that are partners and users of SSC's 1st Engine,
VPaaS.
Additionally, SSC today announced a strategic investment in the
Delaware Board of Trade Holdings,
Inc. ("DBOT") (http://dbottrading.com/). DBOT, is an approved
and licensed FINRA- and SEC-regulated electronic trading platform
with operations in Delaware. NextGen is powered by DBOT's
platform, trading system and technology.
Mr. John F. Wallace, the former Chairman of the
Philadelphia Stock Exchange, Chairman of the Philadelphia
Depository Trust and Vice Chairman of NASDAQ OMX PHLX is Chairman
of DBOT and serves as Executive Chairman of NextGen.
About Seven Stars Cloud Group, Inc.
(http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a
leading Intelligent Industrial internet (3I) platform, creating a
fintech-powered, supply chain solution simplified for commercial
enterprises. There are 2 Engines that drive our business
platform: 1. VPaaS - Supply Chain Management for key
industry sectors and leaders including but not limited to Big
Commodities, Cross-Border Trade, Consumer Electronics & Energy;
2. Digital Finance Solutions - Supply Chain Finance
underwritten by our Global Cornerstone Funds and Tokenization and
Exchange Platforms, which include FINRA and SEC-regulated: Index
Exchanges, Initial Coin Offering / Tokenization, ETFs and
Derivatives. Both Engines and their various arms will run on
'BASE' technology and infrastructure (Blockchain, Artificial
Intelligence, Supply Chain & Exchanges) to power a closed trade
ecosystem for buyers and sellers designed to eliminate
transactional middlemen and create a more direct and
margin-expanding path for principals.
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.
CONTACT:
Jason
Finkelstein
VP, Investor
Relations
Seven Stars Cloud Group,
Inc.
212-206-1216
View original
content:http://www.prnewswire.com/news-releases/seven-stars-cloud-provides-update-on-nextgen-exchange-group-300505935.html
SOURCE Seven Stars Cloud Group, Inc.