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RC365 Holding plc
("RC365", the "Company" or the "Group")
Strategic Partnership Agreement with Blacksilver Trust (Hong Kong) Limited
RC365 Holding Plc ("RC365" or the "Company"), the fintech and payment solutions group, is pleased to announce that its wholly owned subsidiary, Regal Crown Technology Limited ("RC Tech"), has entered into a strategic partnership agreement (the "Agreement") with Blacksilver Trust (Hong Kong) Limited ("Blacksilver Trust"), a Hong Kong-based provider of trust and financial services.
Under the Agreement, RC Tech will provide Blacksilver Trust with an integrated suite of financial technology solutions designed to enhance its operational capabilities and support its continued growth. The services comprise:
· Business Virtual Account Services, including the establishment, management and maintenance of multi-currency business virtual accounts.
· Supporting API Services, providing secure API connectivity and supporting technical infrastructure to facilitate the operation and management of those virtual accounts.
· Trust Management System Modernisation, including the enhancement of Blacksilver Trust's existing trust management system through the integration of RC Tech's proprietary fintech solutions based on the Group's RC3.0 platform.
The RC3.0 platform entered its soft launch phase approximately two months ago and this agreement represents a further commercial deployment of the Group's proprietary technology.
The Agreement has an initial term of five years and is intended to establish a long-term relationship between the parties for the provision of virtual account infrastructure, technology integration and ongoing support services.
Principal commercial terms
The principal commercial terms of the Agreement include:
· Initial contract term of five years.
· Implementation to commence immediately following execution of the Agreement.
· Recurring monthly SaaS service fees charged to each client for each type of service provided. The monthly service fee is US$5,000 per client per service type, subject to an annual increase of 8% per annum.
· The Company may also charge separate mandate fees for additional client-requested services, which are expected to be occasional in nature.
Strategic rationale
The Board believes the Agreement represents an important commercial milestone for the Group and further demonstrates the breadth of the RC3.0 platform. By combining business virtual account infrastructure, API integration and trust management system modernisation within a single client deployment, the Agreement broadens the commercial application of the Group's technology and supports its strategy of providing integrated fintech solutions to regulated and professional financial services businesses.
The Board believes the Agreement has the potential to generate recurring revenues for the Group through the provision of technology services, ongoing platform support and associated maintenance services.
Chi Kit Law, Executive Director and Chief Executive Officer of RC365, commented:
"We are pleased to establish this strategic partnership with Blacksilver Trust. The agreement marks a further step in the expansion of our B2B fintech offering and demonstrates the breadth of our RC3.0 platform by combining virtual account infrastructure, API integration and trust management system modernisation within a single client deployment. We look forward to working closely with Blacksilver Trust as the partnership is implemented and to supporting the continued development of its business."
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Enquiries:
RC365 Holding plc |
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Chi Kit LAW, Chief Executive Officer |
T: +852 3157 1393 |
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Bowsprit Partners Limited (Financial Adviser & Corporate Broker) |
T: +44 (0) 203 833 4430 |
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About RC365 Holding plc
About RC365 Holding plc RC365 Holding plc (LSE: RCGH) is an established payment solutions and fintech company. It operates primarily in East and Southeast Asia through its core subsidiaries of Regal Crown Technology and the recently acquired HC Capital. For over 10 years, the Company has delivered efficient and secure payment gateway solutions and IT support and development services for payment and financial systems, including ERP solutions. In 2021, it commenced providing digital remittance and payment services, which expanded to include foreign exchange and asset linked credit card solutions. These services are provided to multinational merchants, SMEs and individuals. RC365 intends to expand into the virtual banking market and geographically, including in the UK and wider Europe.
For more information, visit: https://www.rc365plc.com