SOAKMONT GROUP, INC. announces it has reached an agreement (Letter of Intent LOI) with a Canadian Regulated Financial Institution for a partnership and the creation of a regulated entity focused on cryptocurrency.
This groundbreaking agreement will bring together blockchain and financial expertise under a regulated environment.
QUEBEC CITY, QC, June 16, 2022 /PRNewswire/ -- SOAKMONT GROUP, INC. is delighted to announce its imminent partnership with ATLANTIC TRUST CORPORATION (ATC) a Canadian regulated Financial Institution.
ATC is a Trust & Loan Company, established in 1965 by an Act of Parliament by the Government of Prince Edward Island, has a wide array of powers as a financial institution and as a Trustee.
This strategic agreement will oversee the joint creation of a new corporate entity, subsidiary to ATC, that will cater to the cryptocurrency and blockchain industry, henceforth providing stability and insurance for investors. This new entity will also offer the Crypto market fully fiat-backed CAD and USD stablecoins. SOAKMONT & ATC intend to put back the notion of stability in stablecoins. Further financial products will be offered and released following the subsidiary's creation.
While confirming the news, the SOAKMONT development team stated, "this agreement will allow us to realize our vision of creating a fully regulated tokenized investment platform - removing traditional investment barriers while providing peace of mind for users. We see huge potential within this partnership and are delighted to be building something that will bring so much value to the fintech and cryptocurrency field."
The agreement will initially see the following outputs:
Creation of a new digital subsidiary Trust/Financial Institution launching in Q3 2022.
Launch of fully secure and asset-backed by 1:1 fiat CAD and USD stablecoins - these will be fully regulated and regularly audited.
ATC and its subsidiary will work with SOAKMONT to ensure the forthcoming Soakmont Investment Platform is fully regulated for asset tokenization and fractional ownership.
This subsidiary will be the cornerstone of the innovative SOAKMONT Investment Platform. Being supported by a regulated Canadian Financial Institution allows SOAKMONT to focus on all forms of private equity and real estate investment.
Once the agreement is finalized in Q3 2022 the subsidiary financial institution will launch with the multi-chain stablecoins. Soon after, SOAKMONT will launch its Investment Platform and enter its first phase of tokenizing the first private equity asset with fractional ownership. Mandate was formally given by both parties to ARCHER Attorney & Notaries to ensure the completion of the agreement and the inception of this new subsidiary.
The expertise and experience within the two organizations are naturally complementary therefore enhancing the capacity of SOAKMONT and ATC to build a novel and secured environment within the cryptocurrency and blockchain landscape.
Further updates and projects will be announced and brought to market as the partnership develops.
SOAKMONT GROUP, INC. is a financial technology company focused on utilizing the transparency and efficiency of blockchain and web3 across a range of industries and products. Further information: https://soakmont.com/ or contact email@example.com
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SOURCE Soakmont Group Inc.