NEW YORK, Aug. 16, 2017 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (SSC) ("SSC" or the "Company"), today announced an agreement to establish a Joint Venture ("JV"), Red Coin Chain, Ltd. ("Red Coin"). SSC will be a 60% owner of the JV. Mr. Jitter Xu, a world leader in the initial coin offering (ICO) space and the former blockchain chief of Alibaba's, Ant Financial, as well as, Mr. Deng Di, the chairman of Taiyiyun (the leading blockchain-based fintech company in China), will both be parties to the JV in addition to joining management. A number of other experienced blockchain technology and operations experts will also be joining the management team and will be named at a later date. Red Coin will operate and focus on SSC's 2nd Engine, the Digital Asset Tokenization & Exchange Platform, specifically Initial Coin Offerings (ICOs) and asset-backed financial derivatives. What will set Red Coin's business apart is that it will be