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Hong Kong billionaire invests in digital asset platform

According to a recent report, a renowned digital asset platform just completed the first phase of funding.

The company executives planned this process well and managed to attract hundreds of investors from all across the globe. One of the notable investors is a Hong Kong billionaire who is also ranked among the top wealthiest people in the world.

The platform gained a massive reputation across the globe for being one of the most transparent and progressive cryptocurrency platforms in the current digital world. The platform was developed by Intercontinental Exchange (ICE), and the first phase of funding came to a close on 31 December 2018.

Reports indicated that the company managed to raise more than $180 million from investors. The funds will be used to promote the operations of the company.

Apart from the Hong Kong billionaire, other notable investors include a venture capital arm, a massive consulting group and a fintech company that is also popular in the digital space.

The billionaire, who is reportedly the 23rd wealthiest man in the world today, has invested in some tech start-ups in multiple industries over the last ten years.

Notably, this is not the first time that he has invested in a company that deals with blockchain and cryptocurrencies. In 2013, the billionaire invested in bitcoin payment processing software called BitPay.

And in 2016, he invested thousands of dollars in a blockchain technology service provider, Blockstream.

The digital asset platform’s management team has announced that plans are underway to create a digital asset platform that will be capable of hosting institutional grade futures contracts for cryptocurrencies such as bitcoin.

Most of the investors were motivated to invest in this company after realising the potential of such a platform in the current wake of blockchain technology.

A company owned by the billionaire was among the first companies to invest in the platform followed by several major financial companies and tech firms.

The new platform will benefit tremendously from the reputation of these lead investors in the market. Concisely, they will gain massive recognition that will boost their brand awareness efforts.

Institutional backing will also significantly reduce one of the problems that have been affecting cryptocurrency markets for decades, volatility. One of the attributes that will set the platform apart from the competition is the physically delivered crypto futures. Most of the companies offering similar services, CME and CBOE settle contracts in fiat currency.

The company’s contracts will be cleared and warehoused through ICE’s the United States based futures exchange and clearing house.

Individual crypto traders who have a small bankroll are also waiting eagerly for the full launch of the company’s contracts that are scheduled to happen on 24 January 2019.

Regulatory setbacks caused the delay, but the company has managed to resolve them. Already, the company has applied for a license from U.S Commodity Futures Trading Commission.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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