Fineqia (CSE: $FNQ) Invests with Digital Currency Group in Blockchain Co. Nivaura
Fineqia (CSE: $FNQ) Invests
with Digital Currency Group in Blockchain Co. Nivaura
LONDON,
UK - January 29, 2018 (Investorideas.com Newswire) Fineqia International Inc.
(the "Company" or "Fineqia") (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) is
pleased to announce that it has made a cash investment for an equity stake in
Nivaura, which recently demonstrated the world's first crypto-currency
denominated bond issuance that was cleared, settled and registered entirely on
a public blockchain.
Read this news in
full at http://www.investorideas.com/CO/FNQ/news/2018/01291Nivaura.asp
Fineqia
joins New York-based Digital Currency Group (DCG), the world's top investor in
blockchain companies in 2017 according to market research firm CB Insights, in
Nivaura's first institutional financing round. Allen & Overy, the world's
eighth largest law firm by revenue according to American Lawyer, also invested
in Nivaura. Both received minority equity interest in Nivaura.
Fineqia
will be able to deploy the world's first fully automated bond issuance and
administration platform utilising Nivaura's technology at significantly lower
cost than existing channels. Issuers will be able to structure, execute and
administer legally enforceable bond contracts using public blockchain
infrastructure. To meet current client requirements, the bonds will be
denominated in fiat currency. The cash held in Nivaura's client money accounts
will, however, be tokenised to enable blockchain clearing and settlement.
"We're
delighted to back Nivaura, whose pioneering technology can work with existing
capital markets infrastructure to optimise it, minimize costs and drive
transparency," said Fineqia CEO Bundeep Singh Rangar. "Nivaura's
founder Avtar S. Sehra is a leading expert on fintech, cryptocurrency and
blockchain in Europe and has worked closely with Fineqia for several
years."
Fineqia
will take advantage of its recent shareholding in PremFina to issue secured
premium finance debt securities. Premium finance eliminates the financial
strain of lump-sum upfront payments for insurance, thereby promoting financial
inclusion within the insurance industry.
Nivaura
is a U.K. fintech start-up set up in July 2016 that's building a new way for
automated issuance and administration of financial instruments under the
oversight of the U.K.'s Financial Conduct Authority. A key element of Nivaura's
technology is its Legal Mark-up Language (LML), which enables the conversion of
standard legal contracts into machine-readable formats.
The Nov.
2017 bond issuance that was conducted using Nivaura's technology took place in
Fuse, a tech innovation space based in the London office of Allen & Overy.
Fineqia's
investment sum represents less than 1% of its market capitalisation. Terms of
the investment remain confidential.
About
Fineqia International
Fineqia
International is a listed entity in the Canada (CSE: FNQ), US (OTCPink: FNQQF)
and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's
corporate governance, culture, processes and relations by which the Company and
its subsidiaries and investments are controlled, directed and governed. Fineqia
International oversees and ensures the overall success, planning and growth of
the Company and all of its subsidiaries. For more information visit:
About
Nivaura
Nivaura
is a blockchain company building a new way for automated issuance of financial
products under the auspices of the U.K. Financial Conduct Authority's
"sandbox" regime. Their end-to-end system is capable of managing
complexities such as onboarding, structuring and execution. The platform can
also maintain control of asset administration/servicing to achieve truly vertical
integration.
FORWARD-LOOKING STATEMENTS
Some
statements in this release may contain forward-looking information (as defined
under applicable Canadian securities laws) ("forward-looking
statements"). All statements, other than of historical fact, that address
activities, events or developments that Fineqia (the "Company")
believes, expects or anticipates will or may occur in the future (including,
without limitation, statements regarding potential acquisitions and financings)
are forward-looking statements. Forward-looking statements are generally
identifiable by use of the words "may", "will",
"should", "continue", "expect",
"anticipate", "estimate", "believe",
"intend", "plan" or "project" or the negative of
these words or other variations on these words or comparable terminology.
Forward-looking statements are subject to a number of risks and uncertainties,
many of which are beyond the Company's ability to control or predict, that may
cause the actual results of the Company to differ materially from those discussed
in the forward-looking statements. Factors that could cause actual results or
events to differ materially from current expectations include, among other
things, without limitation, the failure to obtain sufficient financing, and
other risks disclosed in the Company's public disclosure record on file with
the relevant securities regulatory authorities. Any forward-looking statement
speaks only as of the date on which it is made except as may be required by
applicable securities laws. The Company disclaims any intent or obligation to
update any forward-looking statement except to the extent required by
applicable securities laws.
SOURCE:
Fineqia International Inc.
For
further information: For more information about Fineqia, please contact:
Bundeep
Singh Rangar, CEO, Bundeep.Rangar@Fineqia.com, Tel: +44 203 500 3462, W: www.fineqia.com
Fineqia
International Inc. (CSE: FNQ) is a featured tech stock on Investorideas.com
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