Ignite Joint Venture Announcement
Private Transaction Network to Leverage Ignite’s Ratings and Decentralized Investment Intelligence Solution
Ignite Ratings has entered into its second significant joint venture with Bermuda-based Private Transaction Network (“PTN”) (http://www.ptnportal.com/transaction/). This closes the loop with TZero, whose trading software is already being utilized by PTN to trade pre-IPO shares. Ignite’s joint venture will see PTN leveraging our rating’s software, via its own platform, in order to manage investors’ funds with full transparency.
PTN will launch a new security token in early 2018, with a target raise of $200 million dollars, being the only known fund to tokenise pre-IPO equity in innovative companies such as, Airbnb, Dropbox, Zuora, Acquia, Ancestry.com, Pinterest and Lyft. PTN will be one of the first traditional finance companies to leverage Ignite’s blockchain based software to offer its investors direct management over the fund’s investment strategy. Investors in the PTN security token will be required to hold IGNT tokens in order to access the platform.
Ignite co-founder Christopher Cousins commented “ Ignite has received significant interest from a number of traditional financial groups which would like to utilize the Ignite software in the management of their investments. Ignite’s mission has always been to encourage transparency in financial markets and to help investors make better decisions. Now traditional investors will be able to see firsthand how Ignite can enhance their returns, while eliminating many of the conflicts and issues that arise in centralized fund management.”
Carsten Klein founder of PTN commented “Ignite provides our investors with an amazing solution to take advantage of opportunities which are simply not normally accessible to investors. Additionally, it provides all our accredited investors the ability to have an autonomous direction over fund management, which is simply not possible without the Ignite solution”.
Ignite remains focused on disrupting the asset ratings business, focusing on providing investment intelligence and ratings for the blockchain industry, initially, although its partnership with PTN marks a much earlier than anticipated foray into disrupting traditional finance. The innovative approach has attracted the attention of forward-thinking fund managers seeking to provide more transparency to their investors. Ignite has additionally received interest from governments to leverage Ignite’s software to reduce corruption on competitive bidding processes.
The Ignite token crowdsale launches January 15th. Visit www.igniteratings.com for more information and registration.
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