Tag: Fintech

eventus-systems-wins-best-sell-side-market-surveillance-product-in-waterstechnology’s-2021-sell-side-technology-awards

Eventus Systems wins Best Sell-Side Market Surveillance Product in WatersTechnology’s 2021 Sell-Side Technology Awards

April 12, 2021 Published by

 

Eventus Systems, Inc., a leading global provider of multi-asset class trade surveillance and market risk solutions, announced that its Validus platform has won the award for Best Sell-Side Market Surveillance Product in WatersTechnology’s 2021 Sell-Side Technology Awards.

The 9th annual Sell-Side Technology Awards recognize the market-leading products and services designed to allow sell-side firms to operate more efficiently, transparently and judiciously, the winners of which are decided by a panel comprising WatersTechnology’s five editors.

“Eventus has had an extraordinary year, with its Validus platform coming to the fore in the trade surveillance market,” said Victor Anderson, global content director of WatersTechnology. “The platform provides the sell side with flexibility and customization functionality, while the large number of enhancements introduced to Validus during the course of 2020 offer new efficiencies, automation and other features that strengthen users’ trade surveillance and compliance programs.”

Eventus CEO Travis Schwab said: “It’s a tremendous honor to win this award in what has always been an incredibly competitive category among our peers. One of the driving forces behind the continuous improvements we make to Validus is the valuable input we receive from clients on problems they want to solve, new markets they want to enter and challenges they encounter from exchanges or regulators. I’m truly proud of our team that works closely with clients every day to solve real-world compliance problems and create measurable efficiencies.”

A new Automation Recipes tool in Validus gives clients the ability to automate a wide range of mundane, repetitive tasks, enabling managers to achieve substantial efficiencies while tracking relevant trends. For instance, Eventus staff worked with a large futures commission merchant’s compliance team on its efforts to manage cross-trade surveillance for global futures activity. Prior to the implementation of the automation tool, the team had to investigate and manually close out 5,000 cross-trade alerts per day, compared to only 20 per day after implementation – representing a 99.6% reduction.

In the past year, Eventus has also further cemented its position as a global leader in trade surveillance and anti-money laundering / transaction monitoring capabilities to digital asset market centers, playing a key role in helping institutional investors gain confidence in cryptocurrency markets globally.

Eventus won numerous awards last year, including the FOW International Award for Market Surveillance Solution of the Year (second consecutive year); the Markets Media Market Choice Award for Best in RegTech – Surveillance and Financial Risk Management; and the RegTech Insight Award for Best Trade Surveillance Solution for the Dodd-Frank Act (second consecutive year). The firm was also named to the global RegTech100 list for the third year running and in late 2020 secured a spot on the Chartis Energy50 2021 list, ranking the world’s major technology players in modern energy markets. In addition, Business Insider featured Eventus as one of its “Breakout B2B Fintech Stars,” and Financial Technologist magazine last month named the firm one of the Most Influential Financial Technology Companies.

treasury-management-international-engages-diginex-to-put-bitcoin-on-balance-sheet

Treasury Management International engages Diginex to put Bitcoin on balance sheet

April 9, 2021 Published by

 

Treasury Management International (TMI), the leading corporate treasury publishing group, has received payment in bitcoin for costs associated with researching the utility of Crypto Assets. TMI chose to work with Nasdaq-listed Diginex [EQOS] on this pioneering transaction, utilizing the company’s cryptocurrency exchange EQUOS.io and their industry certified custodian Digivault to receive and store the bitcoin.

TMI has undertaken this initiative, with the support of Diginex, as part of a wider study into the practical applications of crypto assets for corporate treasurers. This work will include hosting an event entitled: “Crypto Assets: The Questions Every Corporate Treasurer Should be Asking” on April 21st where a panel of leading experts will discuss whether crypto assets and more specifically bitcoin has become a viable treasury asset.

Following the US based “Bitcoin for Corporations” event, which attracted over 8,197 attendees from 6,917 different enterprises, attendees from TMI’s global network of over 30,000 Corporate Treasurers will be joined by leading industry participants in what is expected to be the largest and most diverse event of its kind to date.

Robin Page, CEO at TMI said: “We are excited to be working with Diginex to explore the benefits and opportunities for treasurers to diversify their armoury of investment and payment instruments. And how better to gain insight into the real world experience of crypto assets than by accepting them ourselves? We chose Diginex, a Nasdaq-listed company, to partner with as a reflection of dedication to fair and transparent markets as well as institutional grade infrastructure. We plan to offer selected FinTech’s and Banks wishing to explore crypto assets the opportunity to pay TMI with bitcoin, which we will in turn hold as our own treasury asset.”

Richard Byworth, CEO of Diginex, said: “We are delighted to partner with TMI on this, and their future transactions, as well as assisting them to educate their readers. Given the continuing adoption by many large companies such as Tesla and MicroStrategy of bitcoin as a treasury asset, corporate treasurers in EMEA and Asia are trying to grapple with the value proposition of bitcoin as a treasury asset. Diginex caters specifically to institutions who demand a robust, and secure platform with regulatory oversight.”

Matt Blom, Head of Sales Trading & Corporate Solutions said: “As corporate treasurers begin to understand the potential of the asset class, they will look not only at the fundamental drivers of price but also the technical implementation. Our ‘Direct-to-Custody’ OTC service allows clients a safe, secure and efficient process for those who are opting to transact through our platform. We are not just an execution service; we pride ourselves on sharing our deep knowledge of crypto asset management with our corporate clients.”

fintech-provider-paragonex-adding-new-brokers-as-clients

Fintech Provider ParagonEX adding new brokers as clients

April 8, 2021 Published by

 

Financial technology leader ParagonEX signs deals with several internationally-reputed brokers to provide them with ParagonEX technology and services.

As part of an ongoing effort to expand and diversify its services, ParagonEX announced that several agreements were signed, and one of the brokers, 1Market.com, already successfully finished its migration to ParagonEX.

1Market, offering trading services globally, is a fully regulated broker and is now equipped with the advanced ParagonEX Prime trading platform, back-office services and automated KYC systems, all offered by ParagonEX.

Simon Duggan, ParagonEX’s CEO said: “As part of our expansion, we are glad to have constant interest from brokers regarding some or all of our services. As we focus on continued innovation, we will also have to prioritise broker onboarding, to ensure our pipeline is clear for the next group of incoming brokers.”

ParagonEX Prime, the core product of the ParagonEX group is hailed as one of the most advanced brokerage packages on offer today, comprising of all the elements that medium-sized to large brokers seek in a technology partner – from a proprietary, state-of-the-art trading platform to advanced back-office features and top-notch ancillary services.

etoro-appoints-dr.-hedva-ber,-israel’s-former-banking-supervisor,-as-deputy-ceo-and-global-coo

eToro appoints Dr. Hedva Ber, Israel’s former Banking Supervisor, as Deputy CEO and Global COO

April 7, 2021 Published by

 

Global multi-asset investment platform eToro, today announces the appointment of Dr. Hedva Ber as Deputy CEO and Global Chief Operating Officer (COO).

Dr. Ber will lead eToro’s operational infrastructure, corporate governance, compliance and regulatory affairs, legal, risk management and social responsibility.

Dr. Ber has more than 25 years of experience across the banking and finance industry. Between 2015 and 2020 Dr. Ber served as Israel’s Supervisor of Banks where she actively promoted digital transformation and the implementation of innovation and technological changes in the banking and payment sectors. Prior to that she held several senior roles at Bank Leumi, the last being Chief Risk Officer.

From 2005 to 2008 Dr. Ber represented the State of Israel on the Board of Directors of the European Bank for Reconstruction and Development (EBRD) in London. She received her PhD in Economics from the Hebrew University in Jerusalem. Dr. Ber is considered to be one of Israel’s leading and influential economists who drove significant changes in the banking sector.

Yoni Assia, eToro Co-Founder and CEO said: “I am delighted to announce the appointment of Dr. Ber as eToro’s Deputy CEO and Global COO. Dr. Ber joined us as a consultant earlier this year and I’m thrilled that she has become a permanent, full time member of eToro’s senior leadership team. Dr. Ber brings with her invaluable experience across regulation, corporate governance and risk management. eToro has always placed a strong focus on providing the very best experience to our clients while rigorously adhering to global regulations and applying the highest standards of operational excellence. Under Hedva’s leadership, eToro will remain at the forefront of best practice as we scale the business.”  

Dr. Hedva Ber, eToro Deputy CEO and Global COO said: “As someone from the traditional banking industry, I chose to join eToro, an innovative leader in global fintech and a business at the forefront of the new world of investing, out of a belief in the company’s vision and management. I look forward to working with it’s employees and management, ensuring that eToro continues to operate at the highest level of regulatory standards. I look forward to overseeing the ongoing investment in the company’s operational capabilities to support its rapid growth and create value for its customers and investors.”

the-fx-industry-speaks-out-on-1market’s-sentiment-focused-trading-platform-developed-by-paragonex-networks

The FX Industry Speaks out on 1Market’s Sentiment-Focused Trading Platform Developed by ParagonEx Networks

April 7, 2021 Published by

 

Following the integration of its novel FX trading platform with regulated Forex broker 1Market, FinTech company ParagonEx introduces a new set of features and capabilities that traditional webtrader platforms lack.

Conceived as a global trading software solution designed to provide a smooth and engaging experience to end-users, 1Market’s algorithm-powered 1nsight feature enables traders to derive more value from their trading activity with real-time sentiment analysis and insights into price action on the instruments they invest in.

Additionally, the brokerage firm offers traders worldwide a complete arsenal of proprietary and third-party tools, creating a comprehensive, transparent and secure trading environment where traders can elevate their trading with real-time data. Among these are:

  • Deal Protection – a cutting-edge risk management tool that helps traders determine where to place their protective Stop Loss and Take Profit Levels, thus minimising loss when volatility is high.
  • Leverage Selector – an innovative feature which enables traders to adjust their leverage with every position they open.
  • 1Shield – an advanced feature which minimises traders’ risk of exceeding their margin level.
  • Trading Central Signals – connected directly to Trading Central’s signal generating engine, the broker allows traders with a funded account to access trading signals three times daily fee-free.

As a tech-focused financial services provider and innovation pioneer in the Forex and CFD sector, the brokerage chose ParagonEX as its technology provider for its top-of-the-line solutions which are among the most sought-after in the industry, particularly because of their enhanced flexibility and smooth user experience.

‘We’ve established 1Market with one purpose in mind – empower traders to get more from their trades. What makes us stand out from the crowd is the unique ability to provide a scalable financial service that meets the demands of both novice and advanced traders and the tools that they need to achieve their goals more efficiently than ever’, [name] commented.

The broker will soon launch an iOS and an Android mobile trading app, offering greater accessibility to opportunities. More information to follow.

galaxy-digital-announces-fourth-quarter-2020-financial-results

Galaxy Digital Announces Fourth Quarter 2020 Financial Results

March 30, 2021 Published by

 

Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy Digital” the “Company” or “GDH Ltd.”) today released financial results for the year ended December 31, 2020 for both itself and Galaxy Digital Holdings LP (the “Partnership” or “GDH LP”).

“I am proud to share the results of Galaxy Digital’s transformational fourth quarter, as net comprehensive income increased over 1,100%, AUM increased over 98%, and counterparty trading volumes increased over 80%,” said Michael Novogratz, Founder and CEO of Galaxy Digital. “That dramatic growth accelerated further into the first quarter, which we expect to be another record quarter.”

“Moreover, and as a key component of our growth strategy, I am pleased to announce we are actively preparing for a U.S. listing in the second half of 2021. I am also excited to welcome industry veteran Alex Ioffe as our new Chief Financial Officer, and I want to thank Ash Prithipaul for his significant contributions and for leaving Galaxy well positioned for even brighter days ahead. We believe our industry is at an inflection point as we participate in a once in a lifetime secular shift into cryptocurrencies as an institutionalized asset class. Galaxy Digital is committed to leading our clients and the industry through this transformation.”

Select Financial Highlights for the Fourth Quarter 2020, compared to Fourth Quarter 2019

  • Net comprehensive income1 increased 1,175% to $335.7 million, from a net comprehensive loss of $31.2 million in the prior year period.
    • The increase was primarily a result of realized and unrealized gains on digital assets and on investments, coupled with strong contributions from our trading business, partially offset by higher operating expenses.
    • Income from our trading business increased 842% to $238.7 million, from a loss of $32.2 million in the prior period.
  • Fair Value of Net Asset Holdings3 increased 272% to $813.5 million, from $218.7 million in the prior year period.
    • The increase was primarily a result of unrealized gains on digital assets and on investments.
    • The Partnership had a material holding in bitcoin of $433.0 million as of December 31, 2020, an increase of $351.8 million from December 31, 2019, excluding non-controlling interests.
    • Investments stood at $260.4 million as of December 31, 2020, an increase of $102.2 million from December 31, 2019. The change was primarily due to the increase in unrealized gains and $39.3 million of new capital deployed by the Principal Investments team during the year, which were partially offset by the sale of some investments.

Operating Highlights and Other Updates for the Fourth Quarter 2020, compared to Third Quarter 2020

  • Galaxy Digital Trading (“GDT”) generated a record in: counterparty trading volumes, the size of its counterparty loan book, and in gross counterparty loan book originations in the fourth quarter 2020, compared to the third quarter 2020.
    • In the quarter ended December 31, 2020, GDT counterparty volumes were up 80%+ sequentially quarter over quarter and 230%+ year over year.
    • In the quarter ended December 31, 2020, GDT’s counterparty loan book grew in excess of 300% to approximately $110 million, and the Company grew gross counterparty loan originations in excess of 90% to approximately $110 million.
  • Galaxy Digital Asset Management (“GDAM”) reported assets under management (“AUM”) of $807.3 million as of December 31, 2020, an increase of over 98% from $407.4 million as of September 30, 2020. AUM consisted of $482.3 million in GDAM’s Galaxy Fund Management products, and $325.0 million in the Galaxy Interactive fund.
    • Recent product launches include the CI Galaxy Bitcoin Fund (Ticker: BTCG), a TSX-listed closed end mutual fund in partnership with CI Financial. Additionally, the Bloomberg Galaxy Bitcoin Index (Ticker: BTC) went live.
    • Galaxy Bitcoin Fund, LP, Galaxy Institutional Bitcoin Fund, LP, and Galaxy Institutional Bitcoin Fund, Ltd. (collectively the “Bitcoin Funds”) track the Bloomberg CFIX pricing of bitcoin (“XBT”), and the XBT returned 170.8% in the fourth quarter of 2020, and 305.6% for the year ended December 31, 2020.
    • Galaxy Benchmark Crypto Index Fund LP (the “Index Fund”) is a passively managed index fund which tracks the Bloomberg Galaxy Crypto Index (the “BGCI”). The BGCI returned 120.5% in the fourth quarter of 2020 and 276.7% for the year ended December 31, 2020.
  • Galaxy Digital Investment Banking (“GDIB”) continued to make progress for clients across financing, mergers and acquisitions, and other strategic matters, with several active mandates in various stages of execution.
    • GDIB recognized an advisory fee from serving as sell-side advisor to Blockfolio on its announced sale to FTX Trading Limited for $150.0 million, which closed in October 2020. Blockfolio is a leading mobile app for cryptocurrency portfolio tracking and management and has over six million users globally.
  • Principal Investments: The Company completed seven new investments in companies and held approximately 70 investments across 50 portfolio companies as of December 31, 2020.

_________________

1 

Excluding non-controlling interests (“NCI”).

2

AUM is an internal estimate inclusive of a sub-advised fund, committed capital in a closed-end vehicle, and seed investments by affiliates. Changes in AUM are generally the result of performance, contributions, and withdrawals.

3

This supplementary financial measure is defined as Digital assets plus Investments, less Digital assets sold short, less Investments sold short, less Non-controlling interests.

Operating Highlights and Other Updates through March 22, 2021

  • The Company has appointed Alex Ioffe as its new Chief Financial Officer, effective April 1, 2021. Mr. Ioffe was most recently the CFO of Virtu Financial and prior to that spent over 15 years as CFO for the brokerage business at Interactive Brokers. Mr. Ioffe is taking over the role from Ashwin Prithipaul, who is stepping down to spend more time with his family and will be remaining on through the second quarter of 2021 to ensure a smooth transition.
  • Galaxy Digital Trading (“GDT”) expects to generate records in: counterparty trading volumes, the size of its counterparty loan book, and in gross counterparty loan book originations in the first quarter 2021.
    • In the period between January 1, 2021 and March 22, 2021, GDT counterparty trading volumes continued significant growth, up 40%+ from the quarter ended December 31, 2020, and over 270% year over year.
    • GDT continued to experience strong growth in the Company’s counterparty loan book for the period from January 1, 2021 to March 22, 2021, increasing in excess of 240% to approximately $380 million, and grew gross counterparty loan originations in excess of 400% since December 31, 2020 to approximately $560 million.
  • Galaxy Digital Asset Management (“GDAM”) expects to report preliminary assets under management (“AUM”) of $1.24 billion as of March 22, 2021. AUM consisted of $911.0 million in GDAM’s Galaxy Fund Management products, and $325.0 million in the Galaxy Interactive fund.
    • Recent product launches include: the CI Galaxy Bitcoin ETF (Ticker: BTCX), and the Galaxy Ethereum Funds. The Galaxy Ethereum Funds track the newly launched Bloomberg Galaxy Ethereum Index (Ticker: XET), the third in the Bloomberg-Galaxy family of indices.
    • In March 2021, Morgan Stanley began offering its wealth management clients access to bitcoin funds, including the Galaxy Bitcoin Fund LP, and the Galaxy Institutional Bitcoin Fund LP.
    • Galaxy Bitcoin Fund, LP, Galaxy Institutional Bitcoin Fund, LP, and Galaxy Institutional Bitcoin Fund, Ltd. (collectively the “Bitcoin Funds”) track the Bloomberg CFIX pricing of bitcoin (“XBT”), and the XBT has returned 92.0% on a year-to-date basis through March 22, 2021.
    • Galaxy Benchmark Crypto Index Fund LP (the “Index Fund”) is a passively managed index fund which tracks the Bloomberg Galaxy Crypto Index (the “BGCI”). The BGCI has returned 105.6% on a year to date basis through March 22, 2021.
  • Galaxy Digital Investment Banking (“GDIB”) continued to make progress for clients across financing, mergers and acquisitions, and other strategic matters, with several active mandates in various stages of execution.
    • Key activities as of March 22, 2021 include consulting on a recent cryptocurrency company’s fundraising round.
    • GDIB also acted as a Strategic Advisor in connection with a public offering in the FinTech space.
    • GDIB increased client coverage to 90%+ of its target universe.
  • Galaxy Digital Mining (“GDM”) established its own proprietary bitcoin mining operation, hosting its machines at a third-party data center in the United States, and has begun proprietary mining.
    • GDM closed its first two mining financing deals.
    • GDM has built a strong pipeline, speaking with over 70+ companies in the space.
  • Principal Investments: The Company made 12 new investments and now holds approximately 80 investments across approximately 60 portfolio companies.
    • The Company recognized a liquidity event of over $125 million from one of its portfolio companies during the first quarter 2021.
    • There was no significant change in the Company’s digital asset holdings (excluding non-controlling interests) since December 31, 2020, and the Company has, as a result, benefited from the increase in asset prices since the start of the year.

Select Financial Highlights for the Fiscal Year 2020 compared to Fiscal Year 2019

  • Net comprehensive income increased 1,396% to $385.5 million, from $25.8 million in the prior year.
    • The increase was primarily a result of realized and unrealized gains on digital assets and on investments, coupled with strong contributions from our trading business, partially offset by higher operating expenses.
    • Income from our trading business increased 202% to $270.9 million, from $89.6 million in the prior year.
  • Fair Value of Net Asset Holdings increased 272% to $813.5 million, from $218.7 million in the prior year.
    • The increase was primarily a result of realized and unrealized gains on digital assets and on investments.
    • The Partnership had a material holding in bitcoin of $433.0 million as of December 31, 2020, an increase of $351.8 million from December 31, 2019, excluding non-controlling interests.
    • Investments stood at $260.4 million as of December 31, 2020, an increase of $102.2 million from December 31, 2019. The change was primarily due to the increase in unrealized gains and $39.3 million of new capital deployed by the Principal Investments team during the year, which were partially offset by the sale of some investments.

Earnings Conference Call

An investor conference call will be held today, March 30, 2021 at 8:30 AM Eastern Time. A live webcast with the ability to ask questions will be available at: https://www.galaxydigital.io/investor-relations/ or directly at: http://public.viavid.com/index.php?id=143959. The conference call can also be accessed by investors in the United States or Canada by dialing 1-877-407-0789, or 1-201-689-8562 (outside the U.S. and Canada). A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company’s Investor Relations website. Through April 27, 2021, the recording will also be available by dialing +1-844-512-2921, or 1-412-317-6671 (outside the U.S. and Canada) passcode: 13717682.

marble-launches-first-digital-wallet-and-rewards-for-insurance,-announces-opening-to-any-us.-policyholder

Marble Launches First Digital Wallet and Rewards for Insurance, Announces Opening to Any U.S. Policyholder

March 30, 2021 Published by

 

Marble, the first digital wallet and loyalty platform for insurance, today announced that it is dropping its waitlist and opening its platform to any U.S. policyholder. Policyholders can now sign up to become a Marble member, link and manage their personal insurance policies, and start earning rewards. Members will also be able to shop and compare policies to get the best coverage and rates.

Marble acts as a one-hub, digital wallet where customers can seamlessly manage all of their personal insurance details and payments. Marble is also the first and only platform that allows you to earn rewards on your insurance, which you can redeem in a variety of ways, including towards premium payments, gift cards, and more.

“We’ve seen incredible disruption and progress when it comes to high-flying trading and banking apps, but we really haven’t seen anything truly innovative when it comes to the most common financial instrument in the U.S.: insurance,” said Stuart Winchester, founder & CEO at Marble. “Marble is re-imagining the insured-insurer relationship by building a platform that allows both parties to benefit and engage. Marble is bringing insurance into the twenty-first century, providing members with a personalized insurance wallet, allowing them to take control of their insurance — and earn rewards while doing it.”

Here’s how it works:

  • Link. To get started, go to MarblePay.com and sign up. Link your personal insurance policy(ies) by uploading your “declarations page” or, if your insurance carrier is currently supported by Marble, by signing into your insurance carrier’s site via Marble’s interface. Members can manage, bundle, and keep track of all of their personal insurance policies, regardless of carrier, at a glance, in a single digital wallet.
  • Earn. Start earning rewards (known as “Marbles”) right away by adding policies, referring friends, and, soon, through your regular insurance premium payments. Then, cash in your rewards for digital gift cards from popular brands, charitable donations, and more. The more you engage with the platform, the more you earn.
  • Shop. Marble also makes shopping and comparing policies easy and transparent. With Marble, members can instantly get insight into competitive policies — allowing members to shop for and purchase the best policy and rate personalized to them. Marble’s shopping experience provides members with unbiased results and a clear explanation of benefits, as well as details on how much they could potentially save on their monthly premiums.

“Most consumers only interact with their insurance policy once a year, at renewal, and have to deal with frustrating rate hikes for a product they’re often legally required to own. Meanwhile, insurance companies spend billions on advertising to attract these same consumers year after year. It’s an extremely inefficient arrangement,” Stuart continued. “Marble offers a different, much more intuitive way for modern customers to interact with their policies and for insurance carriers to engage with their customers. By offering rewards and adding transparency, Marble is rethinking the current dynamic, increasing engagement and, for our enterprise partners, the likelihood of renewal. Everyone wins.”

Today’s announcement follows Marble’s $2.5 million raise in seed round funding, backed by IA Capital Group, MS&AD Ventures, Reciprocal Ventures, Fintech Ventures Fund, The Takoma Group, and HU Investments.

bank-of-asia-being-voted-the-bvi-financial-services-tech-savvy-firm-of-the-year-2020

Bank of Asia Being Voted the BVI Financial Services Tech Savvy Firm of the Year 2020

March 30, 2021 Published by

The BVI headquartered Bank of Asia is proudly awarded the “Tech Savvy Firm of the Year” in the annual Financial Services Award hosted by BVI Finance on 28 March 2021. The FinTech-enabled Bank has been recognised for its digital solutions that not only sustain its own business growth in the challenging time of Covid-19, but also help other business adapt and transform digitally by providing fully digitalised banking services.

The BVI Financial Services Awards is an annual event to celebrate the accomplishments of companies and individuals who have played important roles in the offshore financial services industry. This year, there are 13 Award Categories and the winners were voted by members and players from the industry. Bank of Asia outvoted the other four nominees from Accounting, Legal Services and Corporate Services in its category.

President of Bank of Asia Lisa Lou commented at the Award Ceremony: “The award going to Bank of Asia is a message that it’s the time of technology. For BVI, it’s also the time to go technology. We look forward to building a financial centre powered by technology together with the BVI Government.”

As a BVI bank offering digital banking services under a General Banking Licence, Bank of Asia is uniquely positioned to take advantage of its extensive industry insight and rich FinTech expertise, in coming up with innovative strategies and business models, and in offering to its domestic and international clientele a comprehensive range of products and services, including banking, insurance, and investment, global eCommerce and payment, asset and fund management, lifestyle and other value-added services, in a user-friendly, cost-effective and efficient manner. In doing so, the Bank aspires to become the “Bank of Choice” for companies incorporated in the BVI and other jurisdictions, along with their owners and directors, subject to a robust regulatory compliance regime on AML/KYC, data privacy, and cybersecurity.

Being part of the BVI business community, Bank of Asia works closely with Corporate Services Providers, Registered Agents, and professional firms on the Islands, in Asia, and other major markets across the world. Through digital channels and mobile devices, Bank of Asia offers a best-of-breed customer service experience to its customers. The Bank knows the local market well and understands the challenges offshore companies face in acquiring quality banking and financial services and has thus devised products and services that cater to their needs.

The Bank’s Founder and Chairman Mr. Carson Wen commented: “It’s an honour for Bank of Asia to be voted as the ‘Tech Savvy Firm of the Year’. The award is the best example of the BOA teamwork across the regions. We will continue the FinTech journey with insights, courage and the passion to change the way people bank. The Bank will continue to invest heavily in people, processes, technologies and in growing its ecosystem of collaborators and partners in the years to come.”

safello-acquires-bitcoin.se-–-sweden’s-leading-cryptocurrency-portal

Safello Acquires Bitcoin.se – Sweden’s Leading Cryptocurrency Portal

March 30, 2021 Published by

 

Swedish fintech Safello continues its growth journey and announces that it has acquired Rational Money AB, the company behind Bitcoin.se, Sweden’s leading educational portal on cryptocurrencies.

For almost a decade, Bitcoin.se has played a vital role in informing and educating the Swedish public about topics related to cryptocurrencies and their surrounding ecosystem. Since 2012, the site has been the leading independent portal in Swedish for information, news and discussion about cryptocurrency, blockchain technology and economics.

In 2018, Bitcoin.se was introduced to the international audience with an English version. Behind the company is the founder David Hedqvist, one of Scandinavia’s foremost crypto evangelists, a Bitcoin enthusiast and board member of the Swedish Bitcoin Association. The journalistic integrity of Bitcoin.se will be safeguarded by David Hedqvist, who will remain as editor-in-chief and an active contributor.

“David has been a strong advocate for the Swedish cryptocurrency market. In the past, he led the court case that set the regulatory framework for cryptocurrencies on VAT for the EU, an effort Safello at the time sponsored. Our collaboration has extended over the years and we share the values and objectives of David and Bitcoin.se. We are excited for David to continue his journey together with Safello,” said Frank Schuil, CEO of Safello.

The acquisition comes after a successful partnership period between Safello and Bitcoin.se, where the latter has used Safello’s Partner Widget product. Bitcoin.se contributed to trades generating a significant part of Safello’s turnover during the past six months.

In connection with the Bitcoin.se acquisition, Safello is expecting to see significant synergies that are likely to increase Safello’s profitability and create opportunities for new customer generation and continued growth.

“After 9 years as a one-man project I felt that Bitcoin.se deserved to be taken to the next level, but it was important to me that it was done in a way that didn’t compromise on its core values. My relation with Safello over the last few years has been one of mutual respect and I’m convinced that they are just the right company to take on the task,” said David Hedqvist, founder of Bitcoin.se and CEO of Rational Money AB.

The news comes on the heels of a recent announcement about several industry veterans’ appointment to Safello’s Board of Directors. Christina Ploom has previously served as COO at Spotlight Stock Market and has had leading positions at Nasdaq and Sweden’s Financial Supervisory Authority, Finansinspektionen. Johan Lorenzen is the former CEO of Holvi and long term fintech investor. Knut Pedersen is the former President and CEO of Catella and Managing Partner at ABG Sundal Collier AB.

Safello, backed by reputable investors, including Digital Currency Group (DCG), Northzone and White Star Capital, is in full swing with its plans to be listed on the Nasdaq First North Growth Market during Q2 2021. Recently, the company announced a strategic partnership with Klarna and a handful of key recruitments, including Johan Edin as Chief Financial Officer and Swedish crypto profile Gina Pari as Client Director.

blackrock-tops-the-first-fund-brand-50-global-asset-manager-rankings

BlackRock Tops the First Fund Brand 50 Global Asset Manager Rankings

March 29, 2021 Published by

 

Fund Brand 50 (FB50), an annual research study by global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), celebrated its 10th anniversary with a global edition – highlighting the world’s best-performing, third-party asset management brands.

The independent study measures asset managers’ relative brand attractiveness based on fund selector perceptions across 10 brand drivers, revealing the best 50 global and regional brands in APAC, Europe and the U.S. Local market brand leaders are also disclosed in APAC’s and Europe’s most significant retail markets for third-party fund distribution.

Asset managers faced extraordinary challenges in 2020, forcing them to rapidly adapt their operating environments and client engagement activity in the wake of a global pandemic. The changing conditions accelerated digital transformation for many managers, creating challenges and opportunities for their brand engagement.

The top-five global brands, led by BlackRock, are all industry giants in terms of assets under management and their operational scale. The diversity of the global top 50 demonstrates that it’s not only scale that matters to fund buyers. Selectors’ favourite companies spanned from niche specialists to the large one-stop-shop ‘supermarket’ providers. In the inaugural global rankings, size varied from the European manager Comgest with $33 billion in assets under management, to U.S. giant Vanguard with U.S. $7.6 trillion.

The optimum mix of the most important elements of brand drivers varied across the regions. European selectors weighted product and client service elements as most important, while in APAC and the U.S., the company’s strength and client focus were marginally more important.

“While the drivers of brand were unique in each region, the most successful asset managers were all able to differentiate themselves to fund selectors. Those with scale and a wrap-around service provided the comfort blanket of robustness and reliability. At the same time, several investment specialist firms thrived with unique, high-conviction strategies drawing attention and recognition from distributors and end-investors,” said Mauro Baratta, Vice President, Distribution Insight, Broadridge.

Top-10 global asset management brands ranked by share of total brand score

Rank

Fund Group

1

BlackRock

2

J.P. Morgan AM

3

Fidelity

4

Capital Group

5

Vanguard

6

PIMCO

7

Pictet AM

8

T. Rowe Price

9

Franklin Templeton

10

Allianz GIobal

Data source: Broadridge Fund Brand 50 2021

Additional findings from this year’s study include:

  • Interest in sustainability and thematic fund providers intensified across all regions, fuelled by end-investor demand and pending regulatory changes. Managers with distinctive ‘green’ credentials were notably popular in Europe.
  • Building brand recognition through digital and social media was increasingly important in APAC to engage with younger tech-savvy audiences.
  • The fastest-rising brands in Europe impressed selectors with strong performances in their most important brand attributes, including appealing investment strategy and client-oriented thinking.
  • U.S. fund selectors tend to place their trust in a relatively small number of product providers with a broad investment offering and that have a product mix that works for the vast majority of their clients.

Asset managers, consultants and other industry stakeholders interested in receiving the in-depth Fund Brand 50 analysis can make requests via the Fund Brand 50 information page.

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