An international leader in fintech and asset digitization services that focuses on the production and distribution of those digital assets, Ideanomics (Seven Stars Cloud Group, Inc.), has recently announced a joint venture with Aladdin Fintech Company Limited, a parent company of Hon Kong's I-House (IHT). This agreement will help the company provide real estate asset digitization and post-digitization services, globally.
The 50/50 joint venture will be led by IHT, the firm which successfully launched the world's first real estate token offering in 2017. The JV, which will be established in Hong Kong and include offices in New York and Beijing, will be led CEO Ricky Ng, a serial entrepreneur whose career includes former Business Development Director of Yahoo Asia, as well as several successful ventures which resulted in acquisitions.
The JV will focus on three primary areas of business activities:
"We are tremendously excited to announce our JV with IHT. This deal creates a powerhouse of technology and expertise in the area of real estate asset digitization and associated services," said Bruno Wu, Chairman and CEO of Ideanomics. "Together with Ricky Ng's talented team, we will bring to market a full service for asset digitization that will enable the unlocking of value in property holdings in a manner which will provide unprecedented liquidity and accessibility for both the asset holders and the investor community alike."
"This deal is significant for the commercial Real Estate market, as it brings together two companies which between them provide the full value chain and an unwavering focus on execution," said Ricky Ng, Chairman and Founder of IHT. "This JV will help further establish the market for asset digitization of Real Estate and will serve as a benchmark for an industry which has traditionally suffered from high asset value but very limited opportunities to unlock liquidity. By partnering with Ideanomics, IHT has access to the types of technology and deal flow that we are certain will be successful for our companies, our clients, and investors looking for opportunities in real estate."
Edited by V. Haviland
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