Seven Stars Cloud Group, Inc. Announces Strategic Framework Agreement with International Business Settlement Holdings Ltd.
NEW YORK, July 26, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced today the signing of a strategic cooperation agreement ("Cooperation Agreement") with International Business Settlement Holdings Limited (HKSE: 00147.HK) under SSC's Transactional Finance Product Cloud.
According to the Cooperation Agreement, IBS (a publicly traded financial technology company) and SSC will partner on several initiatives related to global cross-border settlement and other financial related services using resources and technology from both companies.
The partnership between IBS and SSC will promote the application of private cloud technology and blockchain technology by docking the system with central bank's RTGS (Real-Time Gross Settlement), specifically central bank's whose countries are part of the Belt & Road initiative (a development strategy proposed by Chinese President Xi that focuses on connectivity and cooperation between Eurasian countries and encompassing around 60 countries thus far).
About Seven Stars Cloud Group, Inc.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a leading Intelligent Industrial Internet company with solutions designed to provide operational efficiencies in today's constantly evolving business landscape. With a focus on 'BASE' technology and infrastructure (Blockchain, Artificial Intelligence, Supply Chain & Exchanges) to power our V PaaS (Virtual Platform as a Service), SSC is creating a closed trade ecosystem for buyers and sellers designed to eliminate supply chain and transactional middlemen and create a more direct and margin-expanding trading path for principals. SSC is applying BASE + V PaaS to focus on 3 Core Cloud Areas: I. Intellectual Property Cloud; II. Product Sales Cloud; III. Financial Services Cloud. With the three clouds functioning both independently and interdependently, SSC is creating a vertical, transactional and flexible platform for today's global enterprises.
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.
Seven Stars Cloud Group, Inc.
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