Blockedge Technologies Inc and Suvik Technologies FZE inks the JV deal to accelerate Web3 Adoption

Blockedge Technologies Inc., a wholly owned subsidiary of SecureKloud Technologies Inc and a leading enterprise blockchain technology platform, announced the signing of a memorandum of understanding with Suvik Technologies FZE, a UAE-based public blockchain technology company to form a joint venture in Dubai, aimed at creating tools that empower organizations globally migrate to WEB3 technologies.

With the right complementary ingredients to facilitate the movement towards a largescale secure Web3 adoption, Blockedge brings its infrastructure automation platform, expertise to develop decentralized applications and interoperable blockchain solutions. At the same time, Suvik group brings its proprietary trading system for crypto assets and Plugin - a Decentralized Oracle Platform built on XDC Network.

"Web3 is all about building system-backed trust to facilitate trusted peer-to-peer transactions," said Srinivas Mahankali, Chief Business Officer of Blockedge Technologies Inc. "To accelerate the adoption of Web3 technologies globally, we have come together to leverage each other's strengths to create the required infrastructure layer to encourage and empower over 1000 organizations in the next three years" he added.

Vinod Khurana, Co-Founder of Plugin Decentralized Oracle on XDC Network and CEO of Suvik Group added, "The creation of the joint venture between Blockedge and Suvik has come at the right time and place and has the potential to add immense value to the blockchain ecosystem. With this venture, we aim to launch decentralized applications across industries, with an initial focus on Agriculture, Healthcare, Supply chain, and E-commerce".

The partnership will be converted into a 55:45 joint venture based in Dubai, specifically focusing on the Middle East, Asia Pacific, and North America.

Shares of SECUREKLOUD TECHNOLOGIES LIMITED was last trading in BSE at Rs. 43.55 as compared to the previous close of Rs. 39.60. The total number of shares traded during the day was 26665 in over 296 trades.

The stock hit an intraday high of Rs. 43.55 and intraday low of 38.50. The net turnover during the day was Rs. 1134409.00.

Source : Equity Bulls

Keywords

SECUREKLOUDTECHNOLOGIES INE650K01021 MoU SuvikTechnologiesFZE JointVenture Dubai