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Seven Stars Cloud Announces New Joint Venture

Seven Stars Cloud Group, Inc. has announced an agreement to establish a Joint Venture, Red Coin Chain, Ltd, to be focused on SSC’s Digital Asset Tokenization & Exchange Platform initiative. SSC will be a 60% owner of the Joint Venture.

Jitter Xu, a prominent member of the in the initial coin offering space and former blockchain chief of Alibaba’s, Ant Financial; alongside Deng Di, the chairman of Taiyiyun – A leading blockchain-based fintech company in China – will both be parties to the Joint Venture in addition to joining the management. A number of other experienced blockchain technology and operations experts will also be joining the management team and will be named at a later date.

Red Coin will operate and focus on SSC’s second Engine, the Digital Asset Tokenization & Exchange Platform, specifically Initial Coin Offerings and asset-backed financial derivatives. It is hoped that what will set Red Coin’s business apart is that it will be FINRA and SEC-regulated, it will be enhanced through artificial intelligence and blockchain capabilities and finally, all asset-backed financial derivatives will be backed by real assets – from industries that are partners and users of the first Engine, VPaaS. These industries include, but are not limited to: energy (Ocasia Partnership), cross-border trade, consumer electronics (Wide Angle Group and China Electronic Chamber of Commerce Partnership), and big commodities (Beijing Urban Construction Holding Materials Industry Co. Partnership).

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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