On 6 May 2016, TTG Fintech Limited (TTG) announced that it had signed a Memorandum of Understanding (MOU) with Taiwan Boom FinTech Co., Ltd (TBF). Further to the announcement made on 6 May 2016, TTG announced on 19 May 2016 that TTG’s Chairman Mr. Xiong signed a formal cooperation agreement (Agreement) with TBF’s Chairman Mr. Wu in Taipei. 

TBF is a company incorporated in Taiwan, which is engaged in the provision of intelligent POS platform cloud systems and IP rights to Taiwanese banks, telecommunication companies, retail chains and other business merchants. Subsequent to the execution of the Agreement, it enables TBF under its exclusive rights to distribute and sell TTG’s products and solutions in Taiwan. 

“Confirmation of the Cooperation Agreement implies our Taiwan business will formally start.” TTG’s Chairman Mr. Xiong said.