MMTEC, INC. Announces Acquisition of a 49% Interest In a Newly-Formed Entity called Xchain Fintech PTE.LTD., Singapore corpor...

Date : 07/01/2019 @ 2:35PM
Source : PR Newswire (US)
Stock : MMTec Inc (MTC)
Quote : 3.3  0.0 (0.00%) @ 12:28PM

MMTEC, INC. Announces Acquisition of a 49% Interest In a Newly-Formed Entity called Xchain Fintech PTE.LTD., Singapore corpor...

MMTec (NASDAQ:MTC)
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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

Cision View original content:http://www.prnewswire.com/news-releases/mmtec-inc-announces-acquisition-of-a-49-interest-in-a-newly-formed-entity-called-xchain-fintech-pteltd-singapore-corporation-300878544.html

SOURCE MMTEC, Inc.

Copyright 2019 PR Newswire

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