5th Feb 2019 09:28
LONDON (Alliance News) - Catenae Innovation PLC on Tuesday said it has signed a five-year renewable licence framework agreement with Z/Yen Group Ltd for the use of the ChainZy distributed ledger platform.
Catenae shares were trading 8.5% higher on Tuesday at 0.11 pence each.
The AIM-listed provider of digital media and technology said ChainZy delivers high speed, secure data and transaction handling capabilities utilising distributed ledgers.
The platform was designed to be used in market sectors that require the secure, authoritative and immutable history of auditable transactions, it added.
The ChainZy platform will be used to support Catenae's universal digital repository application Sequestrum, the company said, as well as future applications Catenae may develop. ChainZy has been extensively tested with Sequestrum and is Catenae's preferred platform, it said.
The use of Chainzy and the associated licence fee will be dependent on the company's offering for each specific client. The fee structure will take the form of a licence fee and a per transaction fee.
"We are pleased to formalise our relationship with Z/Yen," said Catenae Chief Executive Tony Sanders.
"We look forward to this mutually beneficial relationship, collaborating together to develop real-world, commercially viable solutions that meet pressing corporate and organisational needs," added Sanders.
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