VANCOUVER, June 20, 2018 /CNW/ - Katipult Technology Corp. (TSXV:FUND and FRA:K10), an industry leading and award-winning fintech company, is pleased to announce it has released its proprietary secondary trading software that will be offered on a white label basis to firms looking to launch a private or open exchange.
Katipult achieved a major milestone and upheld its previously announced timeline of 2Q18 to introduce its secondary market product, which includes capabilities such as issuer buybacks, bulletin boards and auction-based price discovery. Katipult clients will be able to offer tradable securities, introduce smart contracts, and automate clearing and settlement for transactions at a much faster rate, while ensuring both the security of payments and regulatory requirements.
"Providing investors liquidity through a secondary marketplace is a valuable capability to firms in private capital markets, and there has been an increased demand for secondary trading capabilities from our software with the rise of ICOs and tokenization of assets," said Brock Murray, CEO of Katipult "We will pursue a strategy to establish a strong market share in this segment and increase overall revenues with this additional product offering."
Katipult is working with leading crowdfunding platform WeAreStarting Srl to pilot its proprietary secondary trading software, and further adapt the new technology for international regulations.
"We are enthusiastic about Katipult's adoption of blockchain into its software to track the ownership of shares in real time," said Carlo Allevi, Operations manager of WeAreStarting "This addition will open up long term opportunities to extend the usefulness of the Katipult platform. In the secondary market, having the capability to manage voting rights and direct marketing actions to shareholders is a real breakthrough."
Katipult (www.katipult.com) is a financial technology (FinTech) company offering proprietary, cloud-based software infrastructure on a white label basis that allows client firms to design, set up, and operate their own branded investment platform across multiple distribution channels - including web, mobile, and social media. Businesses deploying the Katipult platform are operating in over 20 regulatory environments to grow investor networks, efficiently manage investors, and streamline deal-flow administration in the areas of equities, debt and real estate.
WeAreStarting (https://www.wearestarting.it) is an equity-based crowdfunding platform, which aims at connecting entrepreneurs with brilliant ideas and investors, enabling Italian innovative start-ups and SMEs to grow thanks to large and small investments. In exchange, investors become shareholders and get involved in the future of the companies in which they invest.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the integration of blockchain technologies and potential revenue growth constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company will be able to successfully incorporate blockchain technology, establish a market demand for the product, and increase revenue. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the Company will not be able to successfully integrate blockchain technology, establish a market demand, or successfully grow revenues. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.required by law.
SOURCE Katipult Technology Corp.