Blue Hat joins forces with GTC, a $10 billion brokerage firm

Rhea-AI Summary

Blue Hat Interactive Entertainment Technology Ltd. (BHAT) partners with GTC Group LLC-FZ to enter the financial services sector, aiming to develop the MENA financial derivatives trading market. GTC Group has achieved over USD 50 billion in monthly trading volume by 2023. The partnership accelerates BHAT's internationalization and transition to AI services, enhancing both companies' positions in the global financial market.

Market Research Analyst

The strategic partnership between Blue Hat Interactive Entertainment Technology Ltd. and GTC Group LLC-FZ signals a notable expansion into the financial services sector for Blue Hat, a company previously known for its focus on entertainment technology. This move exemplifies a diversification strategy that could potentially hedge against market volatility in the entertainment sector and open up new revenue streams.

From a market research perspective, this alliance is poised to capitalize on the burgeoning financial technology (FinTech) market in the Middle East and North Africa (MENA) region. The monthly trading volume reported by GTC Group suggests a substantial market presence, which, when combined with Blue Hat's technology expertise, could disrupt the traditional financial services industry in the region. The collaboration aims to leverage artificial intelligence in financial services, a cutting-edge approach that is gaining traction globally.

Investors should monitor this partnership's progress, as the integration of advanced technologies in financial services could significantly enhance operational efficiency and customer experience, leading to increased market share and potentially higher returns on investment.

Financial Analyst

The announcement of a strategic partnership typically triggers market interest as it often leads to synergistic benefits for the companies involved. For Blue Hat, a NASDAQ-listed entity, the expansion into financial services represents a substantial pivot from its core business. Financial analysts would scrutinize the company's ability to integrate into a new market, especially one as complex and regulated as financial derivatives.

Considering GTC Group's substantial monthly trading volume of over USD 50 billion, the partnership could provide Blue Hat with a significant foothold in financial services. However, investors should seek clarity on how the revenues from this partnership will impact Blue Hat's financials and whether the company's valuation reflects this new business model.

Furthermore, the implications of this move on Blue Hat's balance sheet, revenue diversification and earnings stability will be areas of interest. The partnership's success in creating a high-end brand for digital trading could set a precedent for tech companies entering financial markets, potentially re-rating the stock if the venture proves profitable.

Economist

The strategic partnership between Blue Hat and GTC Group has broader economic implications, particularly for the MENA region's financial markets. By combining Blue Hat's AI capabilities with GTC's financial services expertise, there is potential for enhanced efficiency and innovation in financial derivatives trading.

This collaboration could stimulate competition and technological advancement in the region's FinTech sector, which is a key driver of economic growth and diversification. Economists would be interested in the potential impact on job creation, capital flows and the overall competitiveness of MENA's financial markets.

The long-term success of this venture could attract further investment into the region, boosting its status as an international financial center. It is also indicative of the growing trend of cross-sector partnerships, where technology companies are increasingly collaborating with financial firms to revolutionize traditional industries.

DUBAI, UAE, March 11, 2024 /PRNewswire/ -- Blue Hat Interactive Entertainment Technology Ltd. (NASDAQ: BHAT) and GTC Group LLC-FZ, a leading Dubai-based financial derivatives trading services company, have officially signed a strategic partnership agreement.

It marks a strong alliance between the two parties in the field of financial technology. According to the agreement, BHAT will formally enter the field of financial services such as commodities, foreign exchange, stocks, indices, etc., while GTC GROUP will provide core operational services, and is committed to jointly develop the financial derivatives trading market in the Middle East and North Africa. Jack Zheng, CEO of GTC GROUP, said that the company has made remarkable achievements in the field of financial derivatives in the past few years, and by the end of 2023, the monthly trading volume of its services has exceeded USD 50 billion.GTC GROUP hopes to jointly develop the MENA financial derivatives trading market through the cooperation with BHAT, and further promote the innovation and development of trading services.

Dr. Deanna Liu, executive director of Golden Strategy Ltd, a wholly-owned subsidiary of BHAT, said at the signing ceremony that the cooperation with GTC not only marks the orderly implementation of the company's transformation to AI services, but also accelerates the internationalization of BHAT. The signing of this strategic cooperation will bring rich opportunities for both parties, which will not only strengthen BHAT's strength in the field of financial services, but also enhance GTC GROUP's influence in the global financial market. Both parties will work together to build a high-end brand for digital trading of financial derivatives in Dubai, an international financial center, with a hundred billion dollars, setting a new model for the fintech industry. This cooperation will not only help promote the development of FinTech, but will also bring more innovation and choices to the market. We look forward to greater achievements in the future cooperation between the two parties and jointly contribute to the stability and prosperity of the global financial market.

 

CONTACT: Deanna Liu, deannaliu@bluehatgroup.net

View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-hat-joins-forces-with-gtc-a-10-billion-brokerage-firm-302085156.html

SOURCE Blue Hat Interactive Entertainment Technology​

What is the strategic partnership agreement about between Blue Hat Interactive Entertainment Technology Ltd. (BHAT) and GTC Group LLC-FZ?

The agreement marks BHAT's entry into financial services like commodities, foreign exchange, stocks, and indices, with GTC GROUP providing core operational services to jointly develop the MENA financial derivatives trading market.

What was the monthly trading volume achieved by GTC Group by the end of 2023?

By the end of 2023, GTC Group had exceeded a monthly trading volume of USD 50 billion.

How does the partnership with GTC Group accelerate BHAT's internationalization?

The partnership with GTC Group accelerates BHAT's internationalization and transition to AI services, enhancing its position in the global financial market.

What are the key benefits of the strategic cooperation between BHAT and GTC Group?

The cooperation strengthens BHAT's presence in financial services and enhances GTC GROUP's influence in the global financial market, aiming to build a high-end brand for digital trading of financial derivatives in Dubai.

What are the goals of the cooperation between BHAT and GTC Group in the fintech industry?

The cooperation aims to promote the development of FinTech, bring more innovation and choices to the market, and contribute to the stability and prosperity of the global financial market.