Global Technology Company Relocating Headquarters to Connecticut

07.06.2018
Economy

A New York-based financial technology company is moving its global headquarters to the former University of Connecticut campus in West Hartford.
Seven Stars Cloud Group Inc. said it will transform the former UConn campus on Asylum Avenue “into a thriving center for research, training, and business development.”
The global fintech will invest $280 million to develop a blockchain and artificial intelligence technology hub, eventually bringing 330 jobs to Connecticut.
The company will get a $10 million state loan that will be forgiven if it meets its jobs target.
“We are thrilled to have found such a wonderful spot right here in central Connecticut,” SSC executive chairman and CEO Bruno Wu said this week.
“This fantastic location provides access to a highly skilled workforce, as well as more than 40 institutions of higher learning, and several major metropolitan areas, all in proximity to this site.
“It is an ideal location for our firm to write our next chapter.”

Digital Technologies

SSC is expected to renovate five buildings on the sprawling campus.
The UConn Board of Trustees July 6 approved the $5.2 million sale—two contiguous properties at 1700 and 1800 Asylum Avenue—to SSC.
The sale also requires approval of the West Hartford Town Council. The project itself will require approvals from various local boards and commissions.
SSC, a leading global fintech group that focuses on digital asset production and distribution, plans to renovate some buildings, raze others, and do “modest new construction.”
The company’s “mission is to leverage the best underlying technologies for digital asset creation, activation, and distribution.”

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