Kognitiv is pleased to announce the completion of its acquisition of Xtreme Blockchain Labs Inc. (XBL) of Toronto, Canada on June 14th, 2019.
Kognitiv provides secure and compliant B2B technology as well as a unique business model designed to optimize yield. Kognitiv enables its clients and partners, using a unique consumer ID, to provide quantifiable value in conjunction with their products, including unique content and services, to their most important consumers.
XBL was established with the vision of operating as a blockchain-enabled compliant, regulated and secure platform for the issuance, tokenization and trading of alternative assets.
Kognitiv is rapidly gaining momentum globally with the introduction of its Unified Commercial Model (UCM) which serves to build, enable and scale transformative B2B trading relationships; such relationships are particularly advantageous to key verticals that have excess capacity with sub-optimal yields.
“The powerful addition of XBL to Kognitiv's existing Unified Commercial Model creates the opportunity for clients and partners steeped in technology to create their next act. An act that will see consumers recognize the benefits they truly deserve. All that requires is for them to activate their trading accounts.” said Peter Schwartz, Founder and Chairman of Kognitiv. Schwartz continued, “I'm looking forward to realizing this new era with Kognitiv's clients, colleagues and partners. Our momentum shows that the market is ready for this next evolution.”
“XBL and Kognitiv have identified several large and lucrative but inefficient asset classes and markets that are prime candidates for the application of our technology and expertise. Together, we are well-positioned to help clients monetize their assets better, raising yields and creating a superior experience for their consumers” said Mark Petrov, Founder and CEO of XBL.
XBL's founders, management and key shareholders, which include numerous Bay Street veterans at firms such as G3 Capital and Extreme Venture Partners, will be actively involved in working with Kognitiv to meet its performance targets.
The combined company looks forward to working together to usher in a new era of commerce and trading – one that is collaborative and cooperative.