Chinese Firm Buys Controlling Stake of US Crypto Exchange

Seven Stars Cloud Group will be the largest shareholder of the Delaware Board of Trade Holdings
25 December 2017   1008

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.

 

John Wallace

CEO, DBOT

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.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   79

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.