China Information Technology Development Limited (CITD) and Moneda Pte Ltd Join Forces in Revolutionary Partnership To Serve The US$43billion Global Algorithmic Trading Market
HONG KONG, Oct. 3, 2023 /PRNewswire/ -- China Information Technology Development Limited (CITD) (HKEX: 8178), a leading technology company specializing in AI and cloud technologies, is excited to announce a strategic partnership with Moneda Pte Ltd, a Singapore-based entity renowned for its expertise in developing and licensing investment risk management algorithms. The collaboration, formalized through a Memorandum of Understanding (MOU), is poised to drive innovation and advancements in investment solutions with the objective of serving the global algorithmic trading market. Based on market research, the global algorithmic trading market is expected to reach USD$43billion by 2030 – representing a 12.2% CAGR from 2022 to 2030.
Moneda's exceptional proficiency in investment risk management algorithms aligns seamlessly with CITD's vision to integrate advanced AI and blockchain technologies into traditional businesses. Recognizing the potential of Moneda's products in the tokenization of Real World Assets (RWA), this partnership is a testament to CITD's commitment to revolutionize the investment landscape.
CITD, as a technology powerhouse, specializes in the integration of cutting-edge solutions such as Artificial Intelligence (AI), Blockchain Technologies, Digital Ownership Tokens (DOTs) Technologies, and Web 3+2 As a Service (W5AAS), collectively referred to as "Web 5 Solutions". The collaboration will see both parties pooling their expertise and resources to create innovative products.
Key Highlights of the Partnership:
1. Joint Development: CITD and Moneda will collaborate on the development of investment risk management algorithms and the native tokenization of RWA. This joint effort will drive the creation of groundbreaking investment products.
2. Resource Allocation: Both parties are committed to allocating the necessary resources, including manpower, technology, and capital, to ensure the successful execution of the project.
3. Intellectual Property: All intellectual property developed during the collaboration will be owned jointly and severally by both parties, unless otherwise stipulated in writing.
4. Integration of AI and Algorithmic Trading: The partnership will focus on integrating Artificial Intelligence (AI) and Algorithmic Trading to enhance and implement an innovative trading system. This endeavor encompasses research and development, data analysis and processing, system integration and deployment, risk management and compliance, and monitoring and evaluation.
Daniel Wong, CEO of CITD, expressed enthusiasm about the partnership, stating, "CITD is dedicated to pushing the boundaries of innovation in investment solutions. Our collaboration with Moneda represents a significant step towards harnessing advanced technologies to create new, value-driven investment opportunities. Together, we aim to redefine the investment landscape."
Mr. Charles Villeneuve of Moneda Pte Ltd, shared his optimism, saying, "We are excited to embark on this journey with CITD, a company renowned for its technological prowess. This partnership not only complements our strengths but also signifies a dynamic shift in the investment industry. We look forward to co-creating groundbreaking solutions."
The CITD and Moneda partnership marks a milestone in the journey towards innovative investment solutions that are underpinned by cutting-edge technologies.
For media inquiries, please contact:
China Information Technology Development Limited
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