A press release issued on July 23 stated that the global financial technology company focused on blockchain and artificial intelligence digital asset management, Seven Star Group (SSC) and the China Venture Capital Institute (CVCRI), to help SCC expand its asset digitalization services.
This new collaboration will enable SSC to create a fully compliant digital asset ecosystem.
Through the network of Chinese banks and security brokers, we will achieve “blockchain segmentation, securitization and tokenization, complete distribution and trading services, expand sales capabilities, and achieve global transactions”.
According to reports, CVCRI's strong relationship with Chinese authorities and regulators will facilitate the segmentation and securitization of a series of new fixed-income asset classes that will be traded on government-designated exchanges in China.
SSC will also tokenize the types of assets that have already been issued, such as real estate investment trusts (REITs) and asset-backed securities (ABS), which can be traded on regulated global digital asset exchanges.
SSC claims that the deal may “unlock” the illiquid portion of Chinese investment funds. According to reports, as of June 2018, the fund had reached 73,854 and the total assets under management (AUM) was $1.88 trillion.
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