Blocktrade Technology Ltd Enters Into Exclusive License Agreement With Valens Bank
Stockholm IT Ventures AB (SITV), a Swedish company that specializes in cryptocurrency production recently announced that its subsidiary company Blocktrade Technology Ltd (BTT) has entered into a software agreement with Valens Bank. The terms of the agreement will guarantee that Valens bank use the BTT Crypto Trading Toolbox solely, in trading Crypto Fund.
Valens Bank, a start up company that was incorporated to provide a variety of currency financial services and is best known for the quality of traffic it gets when processing payments with major currencies. The contract between Blocktrade Technology and Valens bank is a unique one as it provides for a strong partnership alongside a special product offering that is not currently available in the world.
It is reported that this is the second time Valens Bank has entered into and agreement with Stockholm IT ventures in order to expand SITV into digital financial services.
Torben Pedersen, the director of Valens Bank in a press release statement said:
“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.”
The product is expected to be officially launched in September for Valens Bank Clients and in the coming few weeks, the partners will be working to integrate the back-end mechanics.
Fredrik Waijnstad, the Managing Director Blocktrade Technology said:
“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.” He continued “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.
The company will receive a license fee of 1.5% on deployed capital into the trading program yearly, which is set up by Valens Bank.
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a technology company that deals and specializes in crypto currencies. They are a public company listed on the Frankfurt Stock Exchange. They are a company focused on finding the next generation technology.