ZK International's Subsidiary xSigma Announces Its DeFi Token Exchange Listing on Bittrex Global and Revealed its Binance Smart Chain Plans

Rhea-AI Summary

ZK International Group Co., Ltd. (Nasdaq: ZKIN) has announced that its subsidiary, xSigma Corporation, will list its governance token 'SIG' on Bittrex Global, effective immediately. This follows the xSigma DEX’s impressive performance, having processed over $300 million in volume within two months. The company is migrating to Binance Smart Chain, capitalizing on BSC's $36 billion TVL and over 7 million transactions daily. ZK International aims to leverage water infrastructure opportunities in China, backed by government commitments of $850 billion.

Positive

• Listing of SIG token on Bittrex Global enhances visibility and trading opportunities.
• xSigma DEX has processed over $300 million in volume within two months, indicating strong demand.
• Migration to Binance Smart Chain positions xSigma to benefit from BSC's significant transaction volume and user base.

Negative

• None.

WENZHOU, China, April 28, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company") and its subsidiary blockchain R&D lab xSigma Corporation are pleased to announce that "SIG", a governance token of xSigma DEX a DeFi Protocol, (website: www.xsigma.fi), will be listed on Bittrex Global and will be available for trading today. Additionally, xSigma announced its plans for migration to Binance Smart Chain, which has been showing an impressive traction over the last few months.

Bittrex Global is one of the most secure trading platforms in the world. Built on Bittrex's cutting-edge technology, Bittrex Global provides an institutional grade experience for professional and novice customers alike and is Ranked #12 by Coinmarketcap¹ and has $245 million of daily trading volume. Bittrex with its premier trading platform had over 6 million total visits on its website last month² and it is known as a reputable regulated cryptocurrency exchange.

The "SIG" Token, is a governance token of xSigma stablecoin decentralized exchange (DEX) based on Ethereum network. The DEX has been integrated to 1-inch aggregator and to date the xSigma DEX has processed over $300 million of volume so far in just 2 months after going live.

In addition, xSigma is also pleased to announce that it is working on integrating with Binance Chain (BSC). BSC has gained impressive traction so far with over 7 million transactions a day, more active wallets than Ethereum, and the TVL in DeFi projects on BSC has reached $36 billion. The xSigma team decided not to miss this opportunity, so xSigma will partially migrate to BSC — where the existing SIG will be transferable via Ethereum-BSC bridge. xSigma plans on sharing more news about the BSC migration soon.

1  https://coinmarketcap.com/rankings/exchanges/

2  https://www.similarweb.com/website/bittrex.com/

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact.  ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors.  ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the "Water Cube" and "Bird's Nest", which were venues for the 2008 Beijing Olympics.  Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia.  

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.

About XSigma Corporation

XSigma Corporation, is a wholly-owned subsidiary of ZK International Group Co., Ltd. Together with ZK International, has launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions. XSigma has since pivoted to decentralized finance, focusing on decentralized exchanges, stablecoins and lending protocols. The research lab is now actively working on its ecosystem of products beginning with its DeFi protocol. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry.  The xSigma team that are being assembled are on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. The DeFi protocol is one of many decentralized finance projects xSigma plans to launch over the next 12 months. It will feed into a growing network of DeFi products for enterprise and consumer markets. Any blockchain protocol is subject to a degree of risk; xSigma's DeFi protocol has implemented tamper-resistant programming, but is still subject to potential hacks.For further information about xSigma, please visit its website at www.xsigma.com and www.xsigma.fi 

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International.  Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Investor Contact:

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386

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SOURCE ZK International Group Co., Ltd.

FAQ

What is the SIG token and where is it listed?

The SIG token is a governance token of the xSigma DEX and is now listed on Bittrex Global.

What are the trading volumes related to xSigma DEX?

The xSigma DEX has processed over $300 million in volume since its launch two months ago.

What are the plans for the migration to Binance Smart Chain?

xSigma plans to migrate to Binance Smart Chain to leverage its high transaction volume and growing user base.

How much is the Chinese government investing in water infrastructure?

The Chinese government has committed $850 billion to improve water quality.

What is Bittrex Global's significance in the cryptocurrency market?

Bittrex Global is ranked #12 by Coinmarketcap and has a daily trading volume of $245 million.