NEW YORK, Dec. 20, 2017 /PRNewswire/ -- Seven Stars
Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced
today a 27% purchase of The Delaware Board of Trade Holdings Inc.
("DBOT"), the first and only blockchain based Alternative Trading
System fully licensed by the SEC, for 1,627,869 shares of
SSC common stock. The transaction will make SSC the
largest shareholder of DBOT and as part of the purchase deal, SSC
President and Chief Revenue Officer, Robert
G. Benya, will become a DBOT Board Director.
DBOT (http://dbottrading.com/) operates three business lines:
(i) DBOT ATS LLC, a FINRA Member Firm, a member of the
Securities Investor Protection Corporation ("SIPC") and an SEC
recognized fully automated, auto-execution Alternative Trading
System ("ATS"); (ii) DBOT Issuer Services LLC, focused on setting
and maintaining issuer standards, as well as the provision of
issuer services to DBOT designated issuers; and (iii) DBOT
Technology Services LLC, focused on the provision of market data
and marketplace connectivity.
With this key transaction, Seven Stars Cloud will leverage
DBOT's established and regulatory approved ATS for powering SSC's
blockchain based NextGen X, which focuses on the trading of
financial products including ETFs backed by digital assets, that
can be tokenized and settled (including digital currency options)
via Initial Exchange Offerings ('IEO"). Through SSC's Global
Partners Trading Network ("GPTN") which will be established in the
US, UK, Germany, China, Korea, Africa, Singapore, UAE and Japan, NextGen X, with a "plug and play"
solution, will enable GPTN partners to expand their issuance and
trading volume via 30 targeted local and regional exchanges and
ATS.
NextGen X, combined with DBOT's infrastructure, will position
itself as and differentiate itself from, other digital currency
based ICO platforms in four ways:
- Regulated: a FINRA Member Firm, a member of
the Securities Investor Protection Corporation ("SIPC") and an SEC
recognized fully automated, auto-execution ATS;
- Real Asset Backed: Based on physical and digital assets
from SSC's various product engine verticals;
- Ability to Rate Risk & Price Assets: Dynamic
Ontology modeling has emerged as a powerful way to share common
understanding, based on its ability to chain limitless amounts of
data and knowledge, compartmentalize the variables needed for any
set of computations and establish the relationships between
them. SSC's Dynamic Ontology model, powering NextGen X, will
convert data via financial super intelligence and offer the ability
to rate financial risk and price assets before monetizing into
issuance and trading through the IEO process;
- Security: Supported by quantum technology which offers
highly secure communications and transactions that are secure
against being compromised or hacked.
Mr. John F. Wallace, the former Chairman of the
Philadelphia Stock Exchange, the former Chairman of the
Philadelphia Depository Trust, the former Chairman of the
Philadelphia Clearing Corp and the Former Vice Chairman of Nasdaq
OMX PHLX, is the current CEO and Chairman of DBOT and serves as
Executive Chairman of NextGen. Commenting on this
transaction, Mr. Wallace stated, "We are thrilled to further
partner and form a deeper business relationship with SSC as DBOT
and its various business lines become key engines that power SSC's
Global Trading Platform Network for Initial Exchange
Offerings."
Seven Stars Cloud Group, Inc.
(http://www.sevenstarscloud.com/)
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
@sevenstarscloud
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SOURCE Seven Stars Cloud Group, Inc.