Equity purchase agreement with Vemanti Group, Inc.
LEWES, Del., Dec. 14, 2020 (GLOBE NEWSWIRE) — LiveTrade, LTD (“LiveTrade” or “the Company”) today announced that it has entered into an equity purchase agreement with Vemanti Group, Inc. (“Vemanti”) – a US-based multi-asset technology corporation. As part of the agreement, LiveTrade has committed to procuring up to $5M USD of Vemanti’s common stock over a span of two years, and Vemanti will guarantee and authorize all purchases up to the said amount during the aforementioned period.
Vemanti’s stock has witnessed an incredible growth of over 800% within the latter half of 2020, all thanks to its investment strategies in the Fintech sector, especially in the emerging markets of Vietnam and SE Asia. Sitting at the top of its portfolio is Vietnam’s leading SME-based P2P marketplace: eLoan (https://eloan.vn). To further its long-term objectives, Vemanti will look to expand its investment footprint and presence in Vietnam as well as other nearby countries in the region.
By the same token, LiveTrade has been deeply involved in the world of digital finance, offering transnational products and services to its target audience of global investors and traders, both retail and institutional. As a well-seasoned player in the Fintech field, the company has built a private technology-driven financial ecosystem comprised of various customers and partners from the U.S., Europe, Japan, Hong Kong, and Singapore with over 1 million Monthly Active Users (MAU). One of the most notable strategic and collaborative projects the company has successfully spearheaded is VNDC (https://vndc.io) – the first fully certified and audited fiat-backed blockchain-based stablecoin for the Vietnamese community. The VNDC stablecoin is owned and operated by VNDC Holding Pte. Ltd. (“VNDC Holding”), a blockchain-oriented and crypto-centric Singapore-based company. It has built-in features specially made for various types of cross-border transactions: banking, payments, remittance, P2P lending/borrowing, cryptocurrency trading, and tokenized stocks/ETFs.
The VNDC stablecoin will be utilized as one of the core components to support the agreement between LiveTrade and Vemanti, broadening trade volume and investor base. One of the initial objectives of the partnership is to increase the trade and investment flow between Vietnam and the U.S., which has been limited due to complicated procedures and high costs. LiveTrade’s private and institutional clients can now easily gain access to U.S. capital markets and capitalize on high-yield opportunities already presented in the global financial markets – a path that was once hindered by geographical borders and technical difficulties.
The agreement marks the first step towards building a deeper strategic relationship between the two firms. The mission of LiveTrade and Vemanti (along with VNDC Holding) is to initially deliver high quality, low-cost blockchain-based digital payments and financial services to the global Vietnamese communities of over 100 million people. The goal is then to expand support to all the underbanked or unbanked consumers and businesses in SE Asia who are seeking to migrate to frictionless and permissionless digital payment and financial technologies, to help reduce costs and improve settlement challenges.
LiveTrade LTD is a fintech company established in Delaware, U.S with the goal to become the connection hub of the world’s financial markets rather than struggling to fight against thousands of competitors in the market. It offers a diversity of services, including funding, loans, and financial as well as technological assistance for individual & institutional clients that are hopeful of jumping into the immense international market. By combining proficiency in traditional markets together with expertise in digital solutions, LiveTrade creates a new ecosystem where every business and individual can enjoy the best of both worlds.
About Vemanti Group, Inc.
Vemanti Group, Inc. is a technology-driven multi-asset company that seeks to be active in high-growth and emerging markets. It’s based in Irvine, CA and currently publicly traded on OTC Markets under the ticker: VMNT. Its core strengths are in technology development and investment. They drive growth through acquisition and investment in disruptive and foundational technologies by targeting early-stage companies that have market viable products or by starting a new subsidiary of their own. Strategically, they focus mainly on fintech applications combined with other emerging technologies, including blockchain and machine learning/AI.
About VNDC Holding Pte. Ltd.
VNDC Holding Pte. Ltd. (“VNDC Holding”), a blockchain-oriented and crypto-centric Singapore-based company. It owns and operates VNDC, a stablecoin issued on a blockchain platform and 100% backed by the official Vietnamese Dong (VND). The value of VNDC is always on par with VND (1 VNDC = 1 VND). VNDC is built and developed based on Ethereum Blockchain standard ERC20 and Binance Chain standard BEP-2. Our mission is to build a new global, fiat-free, digital cash system for the global consumers. VNDC is the 1st Vietnam Dong-backed stablecoin in Vietnam and is the 2nd stablecoin holder in the world featured on Etherscan.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company’s ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company’s control.