IOB LLC Acquires a Stake in Programmable Strategy Platform in China
Tuesday, July 3, 2018 1:36 AM
SHANGHAI, CHINA / ACCESSWIRE / July 3, 2018 / IOB LLC and WITEE announced signing an agreement whereby IOB acquired a significant percentage of equity share in WITEE, the "Programmable Strategy Platform" based on global digital currency transaction data, industrial flow and public opinion data.
Through the strategic investment by IOB LLC, WITEE is partnering with quantitative trading partners in North America and Europe to offer fund management advisory services, a decentralized crypto trading platform, and a P2P crypto investment ecosystem.
As the first step towards this partnership overseas, the parties agreed to join forces in setting up a legal and regulated crypto trading entity to be listed and traded on a stock exchange in Germany. Managed with algorithms developed by IOB, Fundamental Capital, and WITEE, the entity will trade a basket of tokens and currencies, including long and short positions.
The partnership also encompasses the agreement for WITEE to support IOB's expansion in Mainland China by leveraging its expertise in the local market and establishing more IOB branch offices in Xi'an, China.
Yale ReiSoleil, CEO of IOB LLC said: "We were extremely impressed by WITEE's business intelligence unit and its development of global real-time market data foundation for the algorithmic trading. We are delighted to be working closely with their experienced and ingenious team. This partnership is bringing us another step closer towards building the new open-source, permissioned, secure, decentralized and distributed global finance blockchain".
"We are very pleased to establish a strategic partnership with IOB. The abundant resources that IOB has on the global scale will be of great support in establishing our presence in the markets overseas," said Allen Yang, the CEO of WITEE (Wee Capital Ltd), "IOB team's rich experience in the financial field is extremely valuable in applying the combination of finance and blockchain technology into practice. We believe that this cooperation will enable us to make significant progress in blockchain and fintech fields as well as bring more valuable services to digital currency investors."
IOB is an active investment holdings company, which invests in blockchain-related high growth businesses, with a focus on regulated financial, legal, accounting, tax services companies and dApps developers.
A decentralized, intelligent multi-level digital currency service platform, WITEE integrates multi-service modules with different levels and depths, such as real-time sharing of digital currency-related data, intelligent investment strategy supply, and digital asset investment escrow.
Email: [email protected]
SOURCE: IOB llc