HONG KONG, Jan. 17, 2018 /PRNewswire/ -- Sharing Economy
International Inc. ("Sharing Economy" or "the Company") (Nasdaq:
SEII) today announced that its
wholly-owned subsidiary, EC Technology & Innovations Limited
("ECTI"), has entered into a cooperation agreement with CoAssets
Pte Ltd. ("CoAssets"), for the development of a blockchain-enabled financial transaction system and
mobile application.
"This is a great opportunity to work with SEII, which has a
strong foothold in the global sharing economy, technology and media
businesses," said Getty Goh, CEO and
co-founder of CoAssets. "After establishing our crowdfunding
platform in a number of regions, we are now looking to expand into
other overseas markets, serve more international clients, and more
importantly, continually act as a reliable bridge to channel funds
from investors to those entities in need of funds on a
risk-adjusted basis across different countries and regions. Our
previous acquisition of Fintech enabled us to develop our financial
transaction platform and applications, and we strongly believe that
SEII can provide a good platform for us to deploy these
technologies through different sharing economy applications."
"Developing a transaction platform is a key component of the
sharing economy ecosystem that SEII is developing,"
said Parkson Yip, COO of Sharing Economy. "Having CoAssets as
a new partner will help us explore more opportunities in financial
transaction technologies. Utilizing their experience in blockchain
applications development, CoAssets will play a vital role in
developing our transaction platform to support various sharing
economy applications, where secure, accurate and autonomous are the
keys to success. By applying blockchain technology, distributed
ledger and smart contracts, we can provide an ideal transaction
platform with accuracy and transparency. With so many third party
sharing platforms using different cryptocurrency or redemption
points, we believe users will enjoy the convenience of our
transaction platform, which will allow for the exchange of
different cryptocurrency or redemption points across multiple
sharing platforms."
About Sharing Economy International Inc. (Nasdaq:
SEII)
Sharing Economy International Inc. (Nasdaq: SEII) through its
affiliated companies, designs, manufactures and distributes a line
of proprietary high and low temperature dyeing and finishing
machinery to the textile industry. The Company's latest
business initiatives are focused on targeting the technology and
global sharing economy markets, by developing online platforms and
rental business partnerships that will drive the global development
of sharing through economical rental business models. Moreover, the
Company is actively pursuing for the application of blockchain
technologies in its existing and to-be-acquired businesses, better
enabling the general public to realize the beauty of resource
sharing.
About CoAssets
CoAssets is Southeast Asia's
first public listed crowdfunding site with offices in Singapore, Australia, Malaysia, China and Indonesia. CoAssets brings real estate
developers, businesses and investors together. As a vested
stakeholder in the crowdfunding space, CoAssets has also launched
Crowdfunders. Asia, a magazine that is dedicated to all things
related to crowdfunding to benefit the crowdfunding
community. CoAssets invested to Fintech Pte Ltd, which owns
Piggiebank, an online platform that provides users with investment
products.
Equity shares of CoAssets are listed on Australian Securities
Exchange. For more information, please visit
https://www.coassets.com/.
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they
may enter into. These forward looking statements are often
identified by the use of forward looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
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, including factors
described in "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31, 2016 and in our Form
10-Q for the quarter ended September 30, 2017. All
forward-looking statements attributable to the Company or to
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.
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SOURCE Sharing Economy International Inc.