Stockholm (pta038/22.07.2019/16:02) - Stockholm, July 22nd 2019: Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB - ISIN SE 0006027546), announces its new name and the strategic roadmap.
Following the recent announcement from the Annual General Meeting approving the company's change of name to reflect the new strategy of providing next generation banking, the company is renamed to StrateVic Finance Group AB as of today. The company's new official website will from today be www.stratevic.com and its ticker code will remain SVAB. The formal application for the name change with the commercial register has been submitted today.
The company´s strategic roadmap follows the priciple that nothing should divide virtual and physical currencies and assets - whatever can be achieved with either can be achieved with both, true cross-asset banking.
StrateVic Finance Group AB has two divisions - Banking and Trading. The banking division will provide banking, debit cards and a single wallet to hold physical and virtual currencies as well as securities and tokenized assets supported by an European monetary licence and branded as bankt.co.
The second division is Trading. Currently focused on high frequency trading for Bitcoins, the business is now expanding into commodities and energy certificates. Bitcoins are a non interest bearing asset like gold. Therefore, holders of Bitcoins seek ways to achieve financial returns from their holdings and high frequency trading can achieve that. Returns this year have been encouraging averaging 5% per month.
StrateVic Finance Group AB has already been approached by third parties wishing to use this service under their own branding. The company will make further announcements as client agreements are signed and go live.
Comment from Bert Scheen CEO Stockholm IT Ventures AB (from now on: StrateVic Finance Group AB): "Following our announcement last month of our new strategy as a cross-asset bank this is another critical part of launching new services. Our new company name reflects the new business and our philosophy of providing one banking service for both physical and virtual currencies."
Stockholm IT Ventures AB (new: StrateVic Finance Group AB) is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company specialises in FinTech such as banking and trading in virtual and physical currencies. For more information visit www.stockholmit.co (new: www.stratevic.com). You can also find the Company on Facebook, Twitter and LinkedIn.(end)
|emitter:||Stockholm IT Ventures AB|
111 48 Stockholm
|contact person:||Bert Scheen|
|phone:||+ 46 10 138 8644|
|stock exchanges:||regulated market in Frankfurt; free market in Dusseldorf, free market in Munich, free market in Stuttgart; open market in Berlin|