Valens Bank will offer Crypto Fund Trading as a part of its licensing deal with a Swedish technology company, Stockholm IT Ventures AB (SITV). The collaboration deal implies that Valens bank will use the BTT Crypto Trading Toolbox for CryptoFund Trading.
24 August, AtoZ Markets – Stockholm IT Ventures AB (SITV) has signed a software licensing deal with a local bank. The key purpose of the agreement is to deliver a crypto fund trading service to the bank’s clients.
Valens Bank will offer Crypto Fund Trading
Stockholm IT Ventures AB (SITV) is a Swedish technology company that is specializing in cryptocurrency production and Blockchain technology. The company has made the public announcement, stating that its subsidiary, Blocktrade Technology Ltd. (BTT), has inked a software license agreement with the Valens Bank.
The collaboration deal implies that Valens bank will use the BTT Crypto Trading Toolbox for CryptoFund Trading. The BTT Crypto Trading Toolbox enables professional traders to "actively manage their clients' digital assets" via its artificial intelligence trading tools, according to the official website of Blocktrade Technology.
Valens Bank is a multi-currency financial services startup. It is known for offering high-quality traffic for international payments across all major currencies. As a matter of fact, this is the second agreement that the company has signed with Stockholm IT Ventures. The agreement aims to develop the SITV into digital financial services.
The Project to Launch in September 2018
An agreement between Blocktrade Technology and Valens Bank is also solidifying the partnership with a unique product offering that is, in fact, not available anywhere in the world. Torben Pedersen, the Director at Valens Bank, has commented on the latest developments:
"It's an exciting time to partner with Stockholm IT Ventures and Blocktrade Technology's innovative approach to the crypto space. 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."
As a part of the agreement, Blocktrade Technology will receive a yearly license fee. The fee stands at 1,5% on deployed capital that is used in the trading program developed by Valens Bank. The parties will join their forces to integrate the back-end mechanics that will allow an official launch of the project in September 20178. Fredrik Waijnstad, the Managing Director at Blocktrade Technology, has shared his thoughts:
"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. 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."
It is still unclear which cryptocurrencies would be a part of the new project.
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