--News Direct--
Boca Raton, FL, June 21, 2024 -- SMC Entertainment, Inc. ("SMC" or the "Company") (OTC: SMCE), a versatile incubator company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies, is pleased to announce the closing of the acquisition of ChainTrade Ltd’s AI-powered Trading Platform (the “Platform”).
ChainTrade, a UK-registered Fintech company, is a joint Venture between Plato Data Intelligence and Redmatter.Capital. ChainTrade has developed its Platform to allow users to trade Equities, ETFs, Commodities, and Indices with the support of a personalized AI-powered trading assistant. The Platform was built to revolutionize trading and investing by leveraging AI's predictive capabilities. Management believes this will improve research, risk management and asset allocation. The Platform provides the user personalized and customized investment strategies and utilizes AI to evaluate assets within a portfolio. SMC has launched two separate verticals that are being integrated - ChainTrade.AI for use in the USA and ChaniTrade.pro for use internationally. The Company is currently offering a free trial to test the AI Research Advisor software - click here to start your free trial.
The launch of ChainTrade’s AI research tools will enable investors to analyze thousands of data points including live price data, performance, investor sentiment, fair value, and risk factors simultaneously. These features enable the ChainTrade AI Research tool to provide timely insights to investors, which in turn allows them to make informed decisions on optimizing their portfolio performance. ChainTrade and its founders have spent the last three years building the required infrastructure to deploy the Platform to the market. Once fully enabled, the Platform will be able to facilitate transactions in a highly secured environment. The Platform's development and features continue to evolve so it can be marketed across emerging markets.
Erik Blum, CEO of SMC stated, “We believe the AI-powered Platform will have a direct and significant impact on SMC’s future revenue growth. We look forward to working with the ChainTrade team to expand our market reach and revenue growth.”
“We are both motivated and excited to deploy our tech, infrastructure and marketing network via a forward thinking approach towards user acquisitions and sustainability,” stated Bryan Feinberg, Co Founder of ChainTrade.”
The terms for acquiring 100% of ChainTrade’s Platform are: (a) issuance of an $8,000,000promissory note, (b) an initial payment of $30,000 on or before closing which SMC has already made, and (c) until cashflow positive, additional payments of $30,000 every forty-five days thereafter to cover customer acquisition, further product development and marketing expenses.
About SMC: www.smceinc.com
SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity.
About ChainTrade: www.chaintrade.ai
ChaintTade LTD is a UK Registered Entity and is affiliated with Red Matter Capital LTD, a registered financial services company, with its subsidiary granted a securities trading license by the Capital Market Authority of Montenegro..
Safe Harbor Statement
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by any third-party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release, or any related damages.
Contact Details
SMC Entertainment, Inc.
Erik Blum, Chief Executive Officer
+1 360-820-5973
View source version on newsdirect.com: https://newsdirect.com/news/smc-completes-asset-purchase-of-uk-registered-chaintrade-ltd-s-ai-powered-trading-platform-802158708
