London Derivatives Exchange (LDX) announcement.
August 21st, 2019
London Derivatives Exchange are pleased to announce their partnership with Uttily in the launch of their Security Token Offering.
LDX is using its existing market setup and processes to partner with Uttily for the launch of their STO, which is currently in private placement. Working alongside Hex Trust Hong Kong who is providing the custodian and trust services and Smarter Contracts who have developed the smart contracts which underpin the Tokens, the LDX platform will assist Uttily in bringing their Tokens to market.
Uttily Energy is an innovative, fast growing, licensed supplier of power, gas and renewable contracts specialising in supplying the UK Real Estate and Royal Institute of Chartered Surveyors (RICS) markets which is valued at circa £5 billion.
Founded in 2010 after seeing dissatisfaction with the ‘Big 6’ in the market, their vision was to disrupt the energy supply market via competitive pricing and transparent billing delivered through their proprietary platform combined with bespoke account management.
With a pipeline of £300m per annum over the next 5 years, a gross margin of 20%, Uttily has the capacity to deliver significant value through its various partnerships.
Vj Angelo CEO of LDX
“LDX is looking forward to being a part of this disruptive project and working closely with Uttily and all of our associate partners in the ecosystem to ensure a successful placement and launch of the STO on the LDX platform.
We believe that Uttilys’ application of this new method of fund-raising along with their longer-term objectives in the use of Blockchain and proprietary platforms, demonstrates the wider spread faith in the innovative technologies and the opportunities by such reputable firms. A big thankyou to Dipak and his team for choosing London Derivatives Exchange and our associate companies to partner in this project.”
Dipak Patel CEO and founder of Uttily
‘We are delighted to be entering the emerging alternative market for digital securitisation. Uttily have a significant pipeline of opportunity. Our tech focused supplier brand is pioneering in bringing disruptive solutions to a stagnant market, providing a valuable simplification of complex systems and reducing costs for our clients.’
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