Trade.io, a Swiss blockchain company, has partnered with ViewFin, a Chinese fintech company. The deal will help both expand their businesses, according to an official announcement published in Medium.
ViewFin is a Chinese fintech company that was founded in 2014. It created Metaverse, which claims to be China’s first public blockchain. Its motto is “The New Reality” and according to its whitepaper it is built to both handle transactions and store identities.
It is powered by a token called ETP, which has a market capitalisation of $49 million according to coinmarketcap.com.
In terms of consensus system, its whitepaper claims two stages. The first will be a proof-of-work system, which will last for a few years. After that it will switch to HBTH-DPos, which stands for HeartBeat-Proof-of-Stake. What this means is that ETP holders will need to send a signal (heartbeat) to the system to indicate that they are still active.
It also offers users the chance to become ‘oracles’ – meaning that they will input data and supervise activity. The legitimacy of oracles is defined by their record.
Trade.io is a “next-generation financial institution based on blockchain technology” which sells a number of products. One of the newest ones is the ‘Blockchain Trade Verifier’, software which traders can use to see if their foreign exchange broker is lying to them about data. Another service is an ICO consultancy.
ACY Securities Supports ASIC’s Product Intervention OrderGo to article >>
Trade.io completed its ICO in January, raising $31 million, and at the moment its token has a market capitalisation of $29 million. It also partnered with Bancor to make its token convertible with ERC-20 tokens.
In May the company announced the launch of an investment initiative call the ‘Angel Investor Program‘ which connects between selected ICOs and selected investors.
On the 1st of July it announced that its cryptocurrency exchange will be launched in mid-July to a limited group of people.
According to the announcement, the two companies will collaborate in areas such as investment banking and trading, and Trade.io will introduce members of ViewFin’s “strong investor network” to its own investment programme.
ETP will be listed on the Trade.io exchange, and Trade.io will gain access to the Chinese market. The company will also avail itself of Metaverse engineers, according to the official announcement.
Eric Gu, CEO of ViewFin said: “We are delighted to team up with trade.io, a leading blockchain firm with strong ties to the financial industry and a well-established community. Given our success in developing the Metaverse blockchain, I am confident that our team will do their best to support Trade.io’s clients in implementing innovative and groundbreaking blockchain solutions.”
John Patrick Mullin, Managing Director of Research & Business Development at Trade.io, said:“We will work closely with them on educational meetups, events and conferences to create a strong community in Shanghai, Hong Kong and South East Asia in the near future.”