This week Seven Stars Cloud Group, Inc. (SSC), Chinese cloud-based solutions service, published a press release, announcing its 27% purchase of The Delaware Board of Trade Holdings Inc. (“DBOT”), blockchain based Alternative Trading System fully licensed by the SEC, for 1,627,869 shares of SSC common stock.
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.
SSC is owned and run by Bruno Wu who is believed to be one of China’s biggest business and entertainment moguls. The transaction will make SSC the largest shareholder of DBOT.
According to SSC website, the company is aiming to become a global leader in providing next-generation Artificial-Intelligence (AI) and Fintech Powered Solutions. According to the release, SSC 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.
The company also hopes to establish a “plug and play” solution spread over 30 different exchanges in Japan, UAE, Singapore, Africa, Korea, China, Germany, and the United States.