SMC Announces LOI for Buildout of Blockchain Based Cabon Credit Platform in conjunction with Circle Energy Sweden AB

Rhea-AI Summary

SMC Entertainment (OTC PINK:SMCE), a Fintech incubator company, has announced a Letter of Intent (LOI) with Circle Energy Sweden AB, a Nasdaq First North-listed company, to develop a blockchain-based carbon credit platform. The platform will utilize SMC's Fyntechnical FYNN AI Platform on the Solana network to facilitate global carbon credit trading, both mandatory and voluntary. The FYNN AI system will provide a white-label solution to identify, manage, and trade carbon credits while ensuring transparency. The LOI is expected to be finalized into a full agreement by June 20, 2025. This partnership aims to establish Circle Energy's new Carbon Capital Solutions Division, leveraging AI technology to connect buyers and sellers in the global carbon credit market.

Positive

• Partnership with a Nasdaq First North-listed company expands SMC's market presence
• Development of new revenue stream through carbon credit trading platform
• Utilization of Solana blockchain technology ensures transparency and efficiency
• White-label solution offers potential for scalability and additional partnerships

Negative

• Currently only at LOI stage, final agreement not yet secured
• Implementation timeline and revenue potential not specified
• Competition in carbon credit trading platforms could affect market share

BOCA RATON, FL / ACCESS Newswire / June 9, 2025 / SMC Entertainment, Inc. ("SMC") (OTC PINK:SMCE), a Fintech incubator company focused on acquisition and support of commercialized financial technology (Fintech) companies, is pleased to announce that Circle Energy Sweden AB, ("Circle Energy") a Swedish listed company on First North Nasdaq Sweden has entered into a letter of intent ("LOI") to engage SMC for the build out and deployment of SMC's Fyntechnical FYNN AI Platform ("FYNN AI") to complete Circle Energy's newly created Carbon Capital Solutions Division . This division will initially focus on carbon credit production, sales, and purchase. This will enable Circle Energy to identify buyers and sellers of carbon credits both mandatory and voluntary on a global basis and determine the quality and quantity of their requirements enabling management and identification of carbon credits globally. By engaging with FYNN AI, Circle Energy is looking to utilize the Solana network across all verticals of carbon credit trading to provide a fully transparent platform in carbon credits.

FYNN AI will canvass, identify, and initialize through AI the sellers and buyers in the carbon credit market and provide a white label service for Circle Energy

A full agreement is scheduled to be completed by 20 June 2025.

"SMC Fyntechnical AI platform will enable Circle Energy to develop a new business area as a new part of Circle Energy's operations that can generate significant added value through organic growth using the resources already within the Company and we look forward to working closely with their team to put in place the finished product as soon as possible." Marttin Boulton CEO Circle Energy Sweden AB

"We will look to move quickly from an LOI to a definitive agreement." Stated SMC CEO, Erik Blum "Our FYNN AI based platform is perfect for building a white label solution for Circle Energy. This will enable Circle Energy to identify, isolate, and trade carbon credits. We look forward to helping Circle Energy implement and grow the platform together."

About SMC Entertainment, Inc.

SMC is a versatile holding company focused on acquisition and support of proven commercialized financial services and technology (Fintech) companies. SMC's multi-discipline growth by acquisition approach is to enhance revenues and shareholder equity. For more information on SMC, visit www.smceinc.com or www.fyntechnical.com.

Press Release Contact:

Erik Blum
Chief Executive Officer
SMC Entertainment, Inc.

Ron Hughes
Chief Operations Officer
SMC Entertainment, Inc.
ron.hughes.operations@gmail.com
360-820-5973

Safe Harbor Statement

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third party. Therefore, in no case whatsoever will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

SOURCE: SMC Entertainment, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the purpose of SMC Entertainment's partnership with Circle Energy Sweden AB?

SMC will build and deploy its FYNN AI Platform to power Circle Energy's new Carbon Capital Solutions Division, enabling global carbon credit trading and management on the Solana blockchain.

When will the final agreement between SMCE and Circle Energy be completed?

The full agreement is scheduled to be completed by June 20, 2025.

How will SMCE's FYNN AI platform benefit Circle Energy's carbon credit trading?

FYNN AI will identify buyers and sellers, determine credit quality and quantity requirements, and provide a transparent blockchain-based trading platform on the Solana network.

What type of carbon credits will be traded on SMCE's platform?

The platform will handle both mandatory and voluntary carbon credits on a global basis.

What is the significance of using Solana blockchain for SMCE's carbon credit platform?

Solana blockchain integration will provide full transparency across all verticals of carbon credit trading, ensuring secure and verifiable transactions.