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Stockholm IT Ventures (SVAB) joint ventures with German Bank to deal in Crypto-Fund
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange under the ticker symbol SVAB, which is a technology company that concentrates especially into cryptocurrencies, both in terms of mining/production and in block-chain technologies. Eco-friendly green energy drawn from hydro power stations in the Northern European region are established for all their mining operations use.
Very recently, the company announced that its subsidiary, Blocktrade Technology Ltd. (BTT), has engaged in a pact for software license with an offshore private bank based in Germany namely, Valens Bank to facilitate major cryptocurrency transactions.
Valens Bank, a multi-currency financial services startup, is best known for its high-quality traffic for international payments across all major currencies.
Torben Pedersen, Director, Valens Banksays “the exciting time to venture with Stockholm IT Ventures and Blocktrade Technology’s innovative approach to the crypto space,”
He also seemed quite confident with this software, for the great value addition to the clients and to give pro-traders the market edge all are looking for. Thorough due diligence of the BTT software in live trading situations and amazing performance have been assured by him.
While institutional investors group likely to be the major target audience as the Managing Director Blocktrade Technology, Fredrik Waijnstad clarifies that the agreement appears to be absolutely in sync with Blocktrade Technology’s strategic goals and meant for institutional investor class who aim to offer handsome yields.
Thereby, it is reportedly publicised that the Valens bank would be utilizing the BTT Crypto Trading Toolbox exclusively for Crypto Fund Trading, as per the contract stipulations.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -22 levels (which is mildly bearish), while USD is flashing at -114 (which is bearish), while articulating at (11:58 GMT). For more details on the index, please refer below weblink: