Soakmont Signs Letter of Intent with Atlantic Trust Company
Soakmont Group Inc, the corporation behind the $SKMT BSC token, today took a giant leap towards achieving its ambition of disrupting and improving a range of industries using web3 and blockchain technology, yet remaining fully regulated by announcing it has signed a Letter of Intent with Atlantic Trust Company (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.
Soakmont Group, Inc — which is developing a range of financial technology products and solutions, including the Soakmont Investment Platform, Soakmont Travel, and Rental Platform, Soakmont DeFi App, and StachesNFT — and ATC’s Letter of Intent sets out how both parties will work to formalize an agreement to provide a unique, groundbreaking and fully regulated offer to the cryptocurrency and blockchain landscape.
The agreement will see Soakmont and ATC work together to:
- Launch of a new digital subsidiary Trust/Financial Institution in 2022 catering to the cryptocurrency and blockchain industry
- Launch of fully secure, regulated and audited 1:1 fiat asset-backed CAD and USD stablecoins
- ATC and its subsidiary will work with Soakmont to ensure the forthcoming Soakmont Investment Platform is fully regulated for asset tokenization and fractional ownership
- ATC will provide premium services to holders of StachesNFT, Soakmont’s official NFT collection
The upcoming subsidiary will be the cornerstone of the innovative Soakmont Investment Platform — a revolutionary approach that utilizes blockchain and Web3 technology to tokenize assets, allowing fully regulated fractional ownership and investment of assets. $SKMT will play a key role in the functionality of the platform. The partnership with ATC will enable Soakmont to focus on all forms of private equity and real estate investment.
Mandate was formally given by Soakmont and ATC to ARCHER Attorney & Notaries to insure the completion of the agreement and the inception of this new subsidiary.
The provision of premium services to StachesNFT holders is a step-change for the NFT industry, making StachesNFT the only NFT backed by a fully regulated financial institution. StachesNFT holders will also benefit from a huge range of Soakmont ecosystem and everyday utility, as well as the exquisite artwork across each of the 10,000 unique NFTs.
Once the agreement between Soakmont & ATC is finalized in Q3 2022 the subsidiary financial institution will launch with the multi-chain stablecoins. This will see the start of a significant tranche of Soakmont activity, beginning with the launch of the Soakmont Investment Platform and the tokenization of the first private equity asset with fractional ownership.
Soakmont and ATC see huge potential in this partnership, jointly building a range of products and services to bring significant value to the fintech and cryptocurrency fields. Further updates will be published in due course.
For further information:
The $SKMT contract address is: 0x1B2fdB1626285B94782af2Fda8e270E95cEbC3b4