STOCKHOLM IT VENTURES AB SUBSIDIARY BLOCKTRADE TECHNOLOGY SOLIDIFIES EXCLUSIVE LICENSE AGREEMENT WITH VALENS BANK
STOCKHOLM, SWEDEN (22 August, 2018) Stockholm IT Ventures AB (SITV) (Frankfurt Stock Exchange: SVAB - ISIN SE 0006027546), a Swedish technology company specialising in cryptocurrency production and blockchain technology, today announced that its subsidiary, Blocktrade Technology Ltd. (BTT), has signed a software license agreement with Valens Bank. The agreement stipulates that Valens bank shall use the BTT Crypto Trading Toolbox exclusively for Crypto Fund Trading.
Valens Bank, a multi-currency financial services startup, is best known for its high-quality traffic for international payments across all major currencies. This is the second agreement the company has entered with Stockholm IT Ventures for the purpose of expanding SITV into digital financial services. Thereby, the agreement between Blocktrade Technology and Valens Bank strengthens the partnership with a unique product offering that is not available anywhere else in the world.
“It’s an exciting time to partner with Stockholm IT Ventures and Blocktrade Technology’s innovative approach to the crypto space,” said Torben Pedersen, Director, Valens Bank. “We are confident that this software will offer great value to clients and give pro-traders the market edge all are looking for. We have made a thorough due diligence of the BTT software in live trading situations and are amazed by its performance.“
Blocktrade Technology will receive a yearly license fee of 1.5 % on deployed capital into the trading program set forth by Valens Bank. The partners will work together diligently the next few weeks to integrate the back-end mechanics that will enable an official launch in September 2018 for Valens Bank clients.
“We are proud to deliver our first license deal with Valens Bank. The agreement is perfectly in line with Blocktrade Technology’s strategic goals and approach for Institutional investors and banks who aim to offer great returns on investments.” said Fredrik Waijnstad, Managing Director Blocktrade Technology. “For us, this agreement is yet another proof of concept and what we believe to be one of many high value deals to come this year.”
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company specialises in cryptocurrency mining and production, and in blockchain related technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn. Details on the company’s Bytemine (BYTM) token and White Paper can be found here: www.bytemine.io.
Media Contacts:
Vibrate Communications for Stockholm IT Ventures
leslie@vibratecommunications.com