Maker of decentralized finance market social media app acquires all shareholders in Hong Kong's Carnival Assets Management Company Limited
SINGAPORE, April 13, 2021 (GLOBE NEWSWIRE) -- TiENCHAT today announced that it is now a Singapore Company. As a Singapore incorporated company, TiENCHAT PTE LTD has acquired all existing shareholders in Carnival Assets Management Company Limited, which had been trading Hong Kong as "TiENCHAT" since 2017. This is a strategic acquisition for TiENCHAT PTE LTD. It is based on the new market rule and opens up new opportunities for the TiENCHAT decentralised finance market social media app.
According to William Tien, CEO and Founder TiENCHAT PTE LTD, "We are very pleased to have been able to complete this acquisition. The expanded company is now in a great position to deliver value to our users, including secure and encrypted communications, token usability and much more. We have a great pipeline of new features in the works, representing an ever-expanding ecosystem for crypto commerce." Tien is a Singaporean who has been an innovator in disruptive technology since 1999, when he first listed TiMEMAC, a voice biometric and fintech payment company, in Australia as a public company.
The company's existing platform, TiENCHAT 3.0, is available on iTUNES, the Apple store and Google Play Store. TiENCHAT 4.0 will launch by the end of April, 2021. TiENCHAT 4.0 will help to increase decentralised access and ability for users—creating access to a "Super App" that contains text, voice and video chats. There will be a marketplace for all types of apps and partnerships that will help secure more users. All stakeholders will find the app to be a single destination for a comprehensive variety of uses.
The new TiENCHAT head-office is based in Singapore. Like ByteDance's TikTok and Zoom, TiENCHAT has established itself in Singapore as a way to strategically position itself as a digital social media platform with high bandwidth and a good global network access. The location also offers the company access to Singapore's significant pool of talented developers.
As a decentralised mobile app, TiENCHAT provides users with an easy login using the Ethereum wallet. Users have the option of creating a new Ethereum wallet as a way to be identified as a user. This wallet is 100% operated on blockchain. A container comprises a second layer private, proprietary blockchain that enables internal transactions between wallets. No data is collected and saved inside the platform. Only data is saved inside the blockchain, with all messages p2p encrypted. Messages only exist in the user's wallet for seven days. TiENCHAT does not hold any users data as all data are encrypted on blockchain and only can access by the user only.
The mobile app further offers users build in artificial intelligence features that make predictions on crypto token prices services. Overall, the app represents a complete ecosystem for cryptocurrency financial management. This includes third party merchant integrations that give users an easy way to spend cryptocurrencies for commercial and consumer transactions. The effect of these functions is to provide token accessibility. It is easier for users to access their tokens on TiENCHAT than it is with multiple wallets, each with withdrawal fees and transactional overhead.
For more information, visit https://www.tienchat.com
Contact: William Tien