|
DGAP-News: Stockholm IT Ventures AB / Key word(s): Agreement STOCKHOLM, SWEDEN (30 October 2018) - Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB - ISIN SE 0006027546), today announced that they have agreed with international giant Netoil, Inc. to increase the previously agreed engagement for a tokenisation deal for the companies' oil delivery network starting in the middle east.
The parties have agreed to increase the bond's total value from the originally agreed 300 000 000 EUR to 400 000 000 EUR. Stockholm IT Ventures AB will receive a fee of 0.2%, meaning that the recent increase adds another 2 000 000 EUR to the company's revenue deriving from the deal. "I'm pleased to see the acceptance and application of our hybrid tokenized bonds product, where Netoil's found applications even before we finished the first round of implementation" said Anthony Norman, CEO of Stockholm IT Ventures AB Tokenisation of assets has been a hot topic in business recently because of its ability to significantly reduce and nearly eliminate administrative costs via smart contracts, increase transparency & liquidity (and therefore asset values), as well as open markets for new investment via the roughly 3 billion unbanked people worldwide. The technology of tokenisation is seen amongst industry experts as one of the "killer apps" of the blockchain as a whole with an expected EUR1 Trillion of assets to be tokenised in the next 12-18 months. Stockholm IT Ventures AB has developed a method to create hybrid bonds in where the bond may be listed on a traditional exchange, but also be tradable as a token. The company will as part of its BytemineX launch also launch a simplified bonds trading facility, in where it will offer its members the possibility to trade the bonds just as any exchange listed token.  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 clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit . You can also find the Company on ,  and . Details on the Company's Bytemine (BYTM) token and White Paper can be found at . Media Contact: Stockholm IT Ventures AB, Anthony Norman,  Â
30.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Stockholm IT Ventures AB |
| Nybrokajen 7 | |
| 111 48 Stockholm | |
| Sweden | |
| Phone: | 4 |
| Fax: | |
| E-mail: | |
| Internet: | |
| ISIN: | SE0006027546 |
| WKN: | A116BG |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
| Â | |
| End of News | DGAP News Service |
|
|
739225Â Â 30.10.2018Â
