Velocity Ledger Technology (VLT) Releases Testnet for Compliant Platform for Issuance, Trading and Settlement of Digital Assets in Bermuda

Companies seeking to issue digital assets can utilize Velocity Ledger Technology to conduct an ICO in Bermuda on a white label Software-as-a-Service basis.

May 28, 2019 07:00 ET | Source: Velocity Ledger
NEW YORK CITY / HAMILTON, BERMUDA, May 28, 2019 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Velocity Ledger Technology today released its testnet and blockchain network API. This allows the community to develop applications to integrate with the network for the issuance, trading and settlement of digital asset tokens.

The VLT platform is a compliant platform for issuing, trading and settlement of digital assets in Bermuda, which has been gaining traction as the world’s best jurisdiction to issue ICOs, STOs, NFTs and other digital assets. In addition to Bermuda, VLT will operate in numerous jurisdictions including the U.S., Canada and Asia, and is expected to deploy its main net by Q3 2019.

VLT is allowing early access to the core API with a blockchain viewer for third-party integration as well as a traditional web portal which supports the full lifecycle management of new digital assets. Participants can fill out early request forms on the Velocity Ledger website to connect to the testnet.

Companies seeking to issue digital assets can utilize Velocity Ledger Technology to conduct an ICO in Bermuda on a white label Software-as-a-Service basis. Companies must file independently and be approved by the Ministry of Finance and/or Bermudan Monetary Authority to comply with the BR 65 ICO Regulations of 2018.

Participants interested in using the technology are required to purchase tokens and be stakeholders on the network. Velocity Ledger Holdings Limited ”VLHL” has been approved to conduct an initial coin offering “ICO” by the Ministry of Finance of Bermuda in accordance with the companies act of 1981. The VL token sale was approved on March 22, 2019 and is currently underway. Qualifying participants can purchase tokens directly from www.VelocityLedger.com. Token benefits include revenue sharing and monthly distribution of newly minted tokens to stakeholders.

“The Velocity Ledger Technology stack utilizes core components for matching developed by Fundamental Interactions over seven years and deployed globally by exchange operators and alternative trading systems,” said Julian Jacobson of Velocity Ledger. “Issued tokens can trade and then settle on the public network.”

About Velocity Ledger

VL Financial Ltd. ("VL Financial"), together with its affiliate, Velocity Ledger Technology (Bermuda) Limited ("VL Tech"), are the sole wholly-owned subsidiaries of Velocity Ledger Holding Limited ("VLHL"), all of which were incorporated in 2018 as Bermuda exempted companies limited by shares. VLHL is itself a wholly-owned subsidiary of Velocity Ledger Technology, Inc., a Delaware corporation ("VLTI" and, collectively with VLHL, VL Tech and VL Financial, the "Velocity Ledger Group").

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VELOCITY LEDGER HOLDINGS LIMITED RECEIVES APPROVAL FOR PUBLIC ICO FROM BERMUDA’S MINISTRY OF FINANCE

Funding from the offering will be used to build out a global blockchain network for the issuance, trading and settlement of digital assets

NEW YORK CITY / HAMILTON, BERMUDA — April 11th, 2019 - Velocity Ledger Holdings Limited ”VLHL” has been approved to conduct an initial coin offering “ICO” by the Ministry of Finance of Bermuda in accordance with the companies act of 1981.  VLHL is a Bermuda Company with two subsidiaries for which the ICO will fund operations: VL Financial and Velocity Ledger Technology Limited ("VL Tech").

VL Financial is currently engaged in the application process with the Bermuda Monetary Authority (BMA), which regulates the financial sector, to obtain the required licenses to operate. Following approval by the BMA, VL Financial would operate a digital asset exchange in Bermuda supporting asset-backed investment and real estate tokens.

VL Tech is a private blockchain enabled platform for the generation of tokenized assets, secondary trading and settlement of trades. It is a comprehensive technology solution that operates as Software-as-a-Service (SAAS). Participants utilizing the technology will require token ownership.

VL tokens may be used for payment for licensing VL technology platform and services. Benefits include revenue sharing and monthly distribution of newly minted tokens to stakeholders.   The VL token sale was approved on March 22, 2019 and is expected to commence in the middle of April, through July of 2019.

“Bermuda has adopted pragmatic, non-restrictive frameworks for digital assets that provide regulatory certainty to market participants,” said Shawn Sloves, CEO of Velocity Ledger. “Bermuda will be a focal point for blockchain initiatives globally.”

Premier, the Hon David Burt, JP, MP, said: “Velocity Ledger represents the exact kind of company that Bermuda is pleased to attract. They have a traditional finance industry pedigree and are building solutions for the institutional finance market. Their platform will showcase the potential of what Fintech and Bermuda have to offer. I am pleased that they have been granted a license to issue an ICO and will be proceeding to apply for a Digital Asset Business License. I look forward to them developing their business and creating jobs in Bermuda.”

About Velocity Ledger Technology

Velocity Ledger (VL) is a private blockchain enabled platform operated by Velocity Ledger Technology, Inc. which provides a platform for the generation of tokenized assets, secondary trading and settlement. Velocity Ledger Technology, Inc. is a comprehensive technology solution that operates as a service with tools to support the investment and trading process for Digital Assets and Security Token creation and cryptocurrency. Velocity Ledger’s objective is to provide Software-as-a-Service (SAAS) which will eventually result in greater liquidity, real-time market pricing, cost savings, and transparency. Velocity Ledger is primarily a technology service provider of infrastructure supporting regulated digital asset businesses but will also operate a licensed Digital Asset Exchange in Bermuda.

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Seven Stars Cloud Partners with Fundamental Interactions to Build Out Velocity Ledger Network Global Operations - Blockchain-enabled Tokenization, Secondary Trading and Settlement of Illiquid Assets

Partnership allows Seven Stars Cloud to quickly and efficiently digitize real-world assets via proven blockchain technology to create new financial markets

NEW YORK, July 11, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (SSC) ("SSC" or the "Company"), a leading global fintech firm focusing on digital asset production and distribution, today announced a long-term relationship and strategic licensing agreement with New York-based Fundamental Interactions, a world class provider of enterprise market center technology.

Through this agreement, SSC will leverage core Fundamental Interactions technology and the Velocity Ledger platform to support the tokenization, secondary trading and settlement of new blockchain-based securities. The Velocity Ledger platform is in operation for various approved entities by the Securities and Exchange Commission (SEC) and FINRA.

While Velocity Ledger has been designed to support U.S. securities tokens, OTC crypto currencies, and real estate securities, it has unlimited potential to manage the issuance, trading and settlement of digital assets across jurisdiction and across asset classes (securities and non-securities). Velocity Ledger is a blockchain-based, software-as-a-service (SaaS) platform that operates as a private blockchain solution and interacts with all of the major public blockchains.

Seven Stars Cloud will work closely with issuers and underwriters of securities in order to source a wide array of financial products. Post issuance, these financial products will undergo a comprehensive rating system to provide transparency into the underlying assets. Additionally, SSC will secure institutional market makers and traders to join Velocity Ledger, providing new product exposure and liquidity to previously illiquid assets. SSC will also leverage its partnership with BBD Digital Capital Group, a leading provider of Artificial Intelligence-based big data solutions to support ratings and risk management of these newly created digital assets.

There are a myriad of benefits afforded by tokenizing securities via Velocity Ledger. These benefits include new product creation and market exposure, competitive fees, fast deal execution, access to institutional investors and broker dealers. In addition to these market and product specific benefits, Velocity Ledger automates key service functions to reduce the number of middlemen and service providers typically involved in a securities transaction. At its core, Velocity Ledger enables highly transparent, immutable, and auditable transaction activity and reporting.  

Commenting on the partnership, Bruno Wu, Executive Chairman & CEO of SSC, said: "With Velocity Ledger, we will work with our partners to develop marketplaces for previously illiquid and un-tradeable assets. We have our eyes set on the fixed income, real estate, venture capital, and private equity markets, amongst various other securities and asset classes. By combining the power of Velocity Ledger with SSC's wide distribution capabilities, we will bring tremendous efficiencies to the capital formation process, narrow bid-ask spreads, and reduce the time and costs for closing and settling transactions via blockchain and AI technology."

"Our partnership with Fundamental Interactions represents a flagship opportunity in SSC's ability to penetrate the tokenized security markets. We are thrilled to be working with Fundamental Interactions to harness the power of blockchain and spread the adoption of security tokens across industry," said Bruno Wu.

Shawn Sloves, CEO of Fundamental Interactions, added, "After several years of hype, blockchain-based solutions are well on track to deliver on their considerable promise. We are excited to be working with Bruno and his team at SSC and look forward to extending the benefits of Velocity Ledger to a variety of new liquid and illiquid asset classes."

About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/)

SSC is aiming to become a next generation Artificial-Intelligence (AI) & blockchain-powered, fintech service company, focusing on digital asset production and distribution. The Company facilitates and enables the transformation from traditional financial markets into the asset digitization era.  SSC acts as the manager and service provider of an ecosystem for securitization and digital currency tokenization as well as trading system integration.

VELOCITY LEDGER FINANCIAL PARTNERS WITH PRIME TRUST TO PROVIDE DIGITAL ASSET ISSUANCE AND CUSTODY 

VELOCITY LEDGER FINANCIAL PARTNERS WITH PRIME TRUST TO PROVIDE DIGITAL ASSET ISSUANCE AND CUSTODY 
 
Velocity Ledger Selects Prime Trust as Preferred Custodian of Digital Assets out of Bermudan Exchange for the Issuance of Structured REIT and Investment Fund Tokens 
NEW YORK CITY / HAMILTON, BERMUDA — February 27, 2019 —  Velocity Ledger Financial, a technology solution supporting the institutional investment and trading processes for digital assets and security tokens, has selected Prime Trust as its preferred custodian. Through this partnership, Velocity Ledger Financial and Prime Trust will facilitate the issuance and custody of digital assets, supporting the growth of tokenized assets in the new digital economy. 
Prime Trust is a qualified custodian that can hold cash and non-cash assets such as stocks, bonds, cryptocurrencies, tokens, real estate, and private business ownership interests.  VL Financial has applied for a Digital Asset Business Act (DABA) license to operate a Digital Assets exchange in Bermuda, where it will operate issuance and secondary trading services for structured REIT and investment tokens.  Issuers and investors in these assets will perform an automated registration with Prime Trust directly from the VL Financial platform to establish custodial accounts for investment operations. 
“Velocity Ledger Financial is an institutionally focused marketplace for digital assets,” says Julian Jacobson, Chief Operating Officer of VL Financial. “The Exchange and Custodial functions are each independently regulated companies with their own enterprise level systems that interoperate around the use of private and public blockchains”.  "We are excited to work with Velocity Ledger as they bring marketplace technology and tools to the emerging digital economy, paving the way for an exciting new future of liquidity options for tokenized assets of all types,” says Scott Purcell, CEO and Chief Trust Officer at Prime Trust.  
 Velocity Ledger Financial is expected to go live at the end of the second quarter of 2019.  
 
About Prime Trust 
Prime Trust is a regulated, chartered financial institution that as a Qualified Custodian provides custody of tokens, FIAT and other alternative and traditional assets, as well as funds processing, AML/KYC compliance, and transaction technology for the new digital economy. Its mission is to provide exchanges, portals, platforms, brokers, investment advisors, stable coins, and others with technology-driven, best-in-class solutions to seamlessly meet the needs of their businesses.
 
About Velocity Ledger
Velocity Ledger (VL) is a private blockchain enabled platform operated by Velocity Ledger Technology, Inc. which provides a platform for the generation of tokenized assets, secondary trading and settlement. Velocity Ledger Technology, Inc. is a comprehensive technology solution that operates as a service with tools to support the investment and trading process for Digital Assets and Security Token creation and cryptocurrency. Velocity Ledger’s objective is to provide Software-as-a-Service (SAAS) which will eventually result in greater liquidity, real-time market pricing, cost savings, and transparency. Velocity Ledger is primarily a technology service provider of infrastructure supporting regulated digital asset businesses but will also operate a licensed Digital Asset Exchange in Bermuda.
 
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Agreement with the China Venture Capital Research Institute to Exclusively Deliver Next Generation Fixed Income Products

Partnership allows Seven Stars Cloud to provide AI-enhanced rating and risk management, blockchain-enabled fractionalization, securitization, tokenization, distribution and trading services across various fixed income asset classes - with the ability to extend the sales and trading globally

NEW YORK, July 23, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (SSC) ("SSC" or the "Company"), a leading global fintech firm focusing on digital asset production and distribution, today announced that the Company has successfully entered into an exclusive agreement with the China Venture Capital Research Institute ("CVCRI") and its subsidiaries.

As a result, of this strong partnership, SSC will be able to provide the following asset classes and fintech services to financial markets:

Fractionalization and securitization in China, to create new fixed income classes that can be traded on government designated exchanges within China. These asset classes are exclusive to SSC.

Regulated products and assets, created globally, and traded on regulated exchanges outside of China - such as DBOT (Delaware Board of Trade) with whom SSC already has a strong relationship with, amongst others.

Tokenization of these asset classes, including already issued Real Estate Investment Trusts (REITs) and Asset-backed Securities (ABS) will be tokenized and traded on regulated digital asset exchanges, outside of China.

CVCRI is uniquely supported by Chinese regulators and authorities, in order to innovate and pioneer next-generation efforts across the above asset classes. As such, they have decided to work on an exclusive basis with SSC, given SSC's unique and proprietary technology platforms, fintech ecosystem, and vast global reach.

As a result of the strong partnership, SSC will become the sole provider of fintech services for these assets, including but not limited to large-scale commercial real estate and properties held by leading insurance companies, large investment funds, and other fixed income suitable products. SSC will work with CVCRI to develop products for the fixed income asset class and facilitate their sales and trading process on government designated exchanges within China. This exclusivity allows SSC to create significant competitive advantages and barriers to entry, as SSC is the only company in the world that has access to this class of fixed income assets.

The underlying technology that SSC will use for these assets is part of the SSC fintech ecosystem, which includes but is not limited to, Velocity Ledger ("VL"), a leading blockchain-enabled security token Issuance and secondary trading technology platform, and Plutos, BBD (Big Business Data)'s dynamic ontology-based AI engine. Plutos serves as a super intelligence system that collects mass data and carries out data processing to produce high value indexes and product pricing information.

The partnership will provide a full value chain of fintech and asset digitization services. These services will include AI-enhanced rating and risk management services, blockchain-enabled fractionalization, securitization and tokenization, and distribution and trading services through banks and security broker dealer networks in China, with the ability to extend the sales and trading globally.

As the partnership continues to develop, SSC's fintech ecosystem will also be capable of digitizing and tokenizing existing ABS and REIT products on a global basis. While the Chinese market has an abundance of quality illiquid assets such as large-scale commercial real estate and properties held by leading insurance companies, large investment funds, and other fixed income suitable products, it lacks the infrastructure to support a liquid fixed income market that is accessible to retail and institutional investors.

The AI and blockchain-powered services provided by SSC further enables the current global digital asset revolution, as various industry verticals and financial markets enter into an era of "smart" and decentralized asset products. SSC is well-positioned to capitalize on this opportunity by developing these markets and unlocking tremendous value. In effect, SSC is creating a new digital asset ecosystem and the supporting market across these asset classes, thereby "unlocking" their liquidity premium. Furthermore, SSC and CVCRI will undertake their activities in full compliance with regulators.

China Venture Capital Research Institute (CVCRI) was founded in July 2003 with its headquarters in Guangzhou and operating center in Shenzhen. With a status of a National Think Tank in China, it has undertaken research topics and market experiments commissioned by various national and local government agencies. CVCRI is also the publisher of the National Venture Investment and Entrepreneurship Year Book and the organizer of annual conferences. CVCRI provides advisory services to the financial industry and is the most recognizable brand of Chinese financial service market.

Madam Ding Jihong, President of CVCRI, stated that the establishment of this partnership with SSC is a meaningful step towards fintech innovation in China. The relationship will create the liquidity for large financial institutions and asset owners through both the creation of fixed income products and sales and trading through government designated and approved channels and platforms. All the activities under this relationship will be carried out and executed under close guidance from regulators. This exclusive partnership could unlock great value for current illiquid portions of investment funds in China, which reached by end of June a total 73,854 funds with total Assets Under Management (AUM) of $1.88 trillion USD. For large insurance companies holding commercial real estate, the untapped fixed income market value grows much larger.

Dr. Bruno Wu, Chairman and CEO of SSC, commented "SSC is bringing together the world's best underlying technologies that enable leading fintech and asset digitization services. We have also been able to bring aboard an amazingly talented team, representative of top talent in New York, London, and other locations globally to execute our strategy. We are thrilled to execute on this opportunity with CVCRI to deliver next generation fixed income product creation and distribution, utilizing next-generation fintech and AI technologies. SSC is committed to leveraging its newly acquired Global Headquarters for Technology and Innovation in West Hartford, Connecticut to build out similar fintech service centers across the world."

About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/"">http://www.sevenstarscloud.com/)
SSC is aiming to become a next generation Artificial-Intelligence (AI) & blockchain-powered, fintech service company, focusing on digital asset production and distribution. The Company facilitates and enables the transformation from traditional financial markets into the asset digitization era.  SSC acts as the manager and service provider of an ecosystem for securitization and digital currency tokenization as well as trading system integration." data-reactid="42">About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/)
SSC is aiming to become a next generation Artificial-Intelligence (AI) & blockchain-powered, fintech service company, focusing on digital asset production and distribution. The Company facilitates and enables the transformation from traditional financial markets into the asset digitization era.  SSC acts as the manager and service provider of an ecosystem for securitization and digital currency tokenization as well as trading system integration.

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