ATMChain Foundation, a foundation sponsored by Jiangsu Huaxin Blockchain Research Institute of China (JBI), has acquired 7.5 million shares of RFintech for a total consideration of EUR 15 million. RFintech and ATMChain will collaborate in the development of the next generation distributed ledger technology, starting with ATMChain’s ‘blockchain+media’ platform.
ATMChain is a transaction system that combines blockchain network with digital media distribution. It created its strategy of ‘blockchain+media’ to explore the economic value of people’s attention in a profound manner and turn media assets into the digital form. As a result of this new partnership, RFintech will become part of the team to build the ATMChain global ecosystem and help the company complete its strategic presence in the blockchain ecosystem in Asia.
RFintech uses advanced technology and marketing experience in high-tech areas such as AI and blockchain. It is focussed on creating new value with new technologies. It has established blockchain-based asset business backed by physical crude oil and other energy assets. It offers a new product, bilur, as its first eCommodity. Bilur will be exchanged in the major foreign exchange markets across the globe. RFintech will provide ATMChain with resources located around the world and decisions have been made to create exchange child nodes in Geneva, Madrid, London, Toronto, the US (New York, Houston and San Francisco), Mexico (DF), and Argentina (Buenos Aires).
In addition, RFintech’s business in Asia will be integrated into the ATMChain ecosystem project and ATMChain will adopt ATM bilur as its exchange currency in Europe.