Formosa Financial has revealed on October 4 via a press release published by PRNewswire that the firm has secured their first client for their custodial, brokerage and risk management services, with the client revealed as decentralized social media platform Mithril.
Formosa carefully selected clients from their whitelist, with these partners taking part in testing, refining, and developing the platform and services. The selection process yielded Mithril as the firm’s first client.
Ryan Terribilini, the CEO Formosa Financial, stated his excitement on the prospect of working with Mithril, saying:
“Jeffrey’s knowledge of blockchain coupled with Mithril being such a large established project means a great amount of feedback and use cases for us to refine and develop our platform.”
The choice of Mithril as Formosa Financial’s first client should not come as a surprise, given the two firms have a history of collaboration in the development of blockchain and the Asian digital market. Mithril is one of the best performing blockchain projects of 2018 and continues to evolve. The feedback and insight from Mithril’s team and its CEO, Jeffrey Huang, will prove invaluable in the continued development of the Formosa Financial platform.
Huang gave a statement on the upcoming partnership, saying:
“The Formosa Financial platform addresses a major market need for projects that don’t want to waste time worrying about treasury management of their crypto. I’m excited for Mithril to be a VIP client so we can focus on building great social and tech experiences rather than the market movements.”
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