What happened
Shares of Seven Stars Cloud Group (NASDAQ:SSC), also known as Ideanomics, rose on Tuesday after the blockchain company announced a deal with a leading auto financing company in China. The stock was up about 10.1% at 12:45 p.m. EDT.
So what
Seven Stars has signed a three-year deal with First Auto Loan to provide two financing campaigns, one in China and another across other markets. The financing will support rideshare vehicles throughout China, going through both Seven Stars’ blockchain ecosystem and traditional financial distribution channels.
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