Fintech – Page 92

Technisys’s Digital Banking Processing Platform scored highest in the Architecture Criteria, in Retail Banking Report from Leading Independent Research Firm

January 12, 2021 Published by TheFintechBuzz.com

Technisys, the company behind the next-gen core and digital acceleration platform, Cyberbank, has been ranked as a Strong Performer by Forrester in the research firm’s recent report: The Forrester Wave: Digital Banking Processing Platforms (Retail Banking), Q3 2020. Technisys’s digital banking platform scored highest in two of the criteria: ‘Digital Banking Foundation’ and ‘Architecture’ with the report stating that: “Technisys drives business agility with a lean core and built-in flexibility.”

The Retail Banking report evaluated the 10 providers that are “most significant.” Providers were evaluated on 36 criteria and the report shows how each provider measures up and helps application development and development (AD&D) professionals select the right Digital Banking Processing Platform (DBPP) for their needs.

Forrester notes that: “US-headquartered Technisys… offers a DBPP with two major modules: Cyberbank Core and Cyberbank Digital,” and that: “Technisys’ solutions represent a good short-list choice for banks looking for a modern DBPP with a flexible architecture that supports assembling of applications.”

The report acknowledges that: “The (Technisys) DBPP leverages modern technologies such as Kubernetes, and its design supports flexibility via service composition, a lean core, and architectural decoupling.”

Why should banks care about this? Because it allows them to dynamically change banking products based on customer’s behaviors and needs. “We have built a modern digital banking platform that is enabling our customers to become an integral part of their customer’s lifestyles,” comments Miguel Santos, CEO of Technisys. “We believe this recognition from Forrester validates our commitment to helping banks achieve business agility and differentiate themselves in an increasingly competitive market.”

“We have invested significant time and effort into enhancing the platform’s functionalities as well as building our market presence in the North American region so it’s great to see Technisys recognized as a strong performer by Forrester,” said Michel Jacobs, Technisys’s new CSO responsible for the company’s growth globally with a focus in the US.

Lion Announces Acquisition of Lion FinTech Group

January 12, 2021 Published by TheFintechBuzz.com

Lion Group Holding Ltd. (“Lion” or “the Company”) (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced it will acquire 100% of Lion FinTech Group Limited for an amount to be agreed upon with a definitive agreement expected to be signed by March 31, 2021. Through its subsidiary, Royal Lion Middle East DMCC, Lion FinTech holds a proprietary trading license for crypto assets in Dubai. The Company expects the acquisition to close in the first quarter of 2021.

Royal Lion Middle East DMCC holds its proprietary trading license with the Dubai Multi Commodities Centre (“DMCC”), and functions as a central counterparty in the crypto asset market. Upon expected completion of the acquisition, Lion’s clients will have access to trade legal tender crypto currencies under regulated conditions, ensuring safe transactions. Royal Lion Middle East DMCC is the only license holder with DMCC that supports FIAT currency, which, following the acquisition, will provide Lion’s clients with an efficient and secure platform to exchange FIAT currencies with crypto currencies. With the license authorized for relevant financial activities and business resources, Lion plans to offer its clients crypto assets-backed trust funds as the best alternative avenue to invest in crypto assets.

Mr. Chunning (Wilson) Wang, Chief Executive Officer at Lion, commented, “This acquisition will bridge the gap between traditional financial markets and the crypto asset market, providing a simple and secure crypto trading platform for our clients. We believe the introduction of crypto trading will enable clients to implement more complex strategies with speed and efficiency, and unlock dynamic trading using smart contracts. Investors increasingly depend on speed and advanced capabilities to add incremental value to their portfolios, and we are excited to offer these tools to our clients following the expected acquisition of Lion FinTech.”

Mr. Wang Jian, Chairman of Lion, owns 100% of Lion FinTech Group Limited, the controlling company of Royal Lion Investment Limited (“RLIL”). An investment company owned by a member of the United Arab Emirates (UAE) royal family also holds equity interest in RLIL. RLIL wholly owns Royal Lion Middle East DMCC.

Bank of Asia’s Founder Carson Wen Appealed to Privy Council in UK on Employment Dispute with Chad Holm

January 12, 2021 Published by TheFintechBuzz.com

Mr. Carson Wen, Founder and Chairman of Bank of Asia (“the Bank”), has filed the Notice of Appeal with the Privy Council in UK on the ongoing employment dispute with Chad C. Holm, a former employee of Financial Holdings (BVI) Limited (“FHL”). Mr. Wen expresses that he would continue to pursue all legal options to set the record straight. He also stresses that Bank of Asia is not a party to the proceedings and is not in any way affected by the court action.

Mr. Wen obtained Final Leave from the Eastern Caribbean Court of Appeal on 16 September 2020 to appeal to the Judicial Committee of the Privy Council (often referred to as the Privy Council) in the United Kingdom on the dispute with Chad C. Holm regarding an alleged shareholding matter.

The Notice of Appeal has subsequently been filed with the Privy Council, the final court of appeal for the British Virgin Islands and other Eastern Caribbean jurisdictions on 10 November 2020.

Meanwhile, the legal proceedings filed by FHL against Chad Holm and two co-Defendants for breach of contract, breach of trust and breach of fiduciary duties in the Hong Kong High Court in October 2016 are continuing. Mr. Wen was the CEO of Financial Holdings (BVI) Limited, which employed Chad Holm as Deputy CEO in October 2015.

FinVolution Group Announces Continued Purchase of Shares by Chairman

January 11, 2021 Published by TheFintechBuzz.com

FinVolution Group (“FinVolution”, or the “Company”) (NYSE: FINV), a leading fintech platform in China, today announced that Mr. Shaofeng Gu, Chairman and Chief Innovation Officer of the Company, has informed the Company that he purchased in his personal capacity approximately 0.53 million of the Company’s American Depositary Shares (“ADSs”) in the fourth quarter of 2020. During 2020, Mr. Gu purchased a total of 3.41 million ADSs. All the ADSs purchased made by Mr. Gu were independent of the Company’s share repurchase programs and were made during an open window period in full compliance with all the Company’s and legal guidelines.

Mr. Gu commented, “Despite a challenging start to the year, a large portion of the uncertainties appear to be behind us. Notably, credit risk performance on our platform by year end improved to the lower-end of our vintage delinquency range compared to the past 2-3 years. We are delighted to have successfully transitioned our platform from being primarily funded by individual investors to being fully funded by institutional funding partners. We continue to deeply believe that a technology-driven focus will enable the Company to better navigate market dynamics, capture opportunities and achieve sustainable growth in the long-term. I also believe the current share price undervalues the potential of the Company and serves as a highly attractive investment opportunity.”

As of December 31, 2020, Mr. Gu beneficially owned 416,928,560 ordinary shares, representing approximately 29.6% of ownership in the Company.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of 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. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company’s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and FinVolution does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Comviva and SBI Card win Payments & Cards, PayTech and InnTech Awards for SBI Card Pay service

December 23, 2020 Published by TheFintechBuzz.com

Comviva, the global leader in digital solutions and SBI Card, the leading credit card issuer in India have recently won three prestigious awards – Payments & Cards Award 2020, PayTech Award 2020 and InnTech Award 2020 for the ‘SBI Card Pay’ service. SBI Card and Comviva were recognized as the winners in the ‘Best Payments Technology Initiative of the Year’ category at the Payments & Cards Awards 2020. The organizations were also accorded, ‘Best Cards Initiative’ category at the PayTech Awards 2020 and ‘Best Implementation of Technology by a Financial Sector Enterprise’, ‘Best Technology Provider/Vendor for Financial Technology (FinTech) Services’ and ‘Best Integration of Technology in a Banking/Payments/Mobile Wallet Interface or Application’ categories at the InnTech Awards 2020. All the awards were announced at the virtual award ceremonies.

The SBI Card Pay service enables customers to create a virtual card on their mobile phone for their physical Visa or Mastercard SBI Credit Card. Thereafter, customers can make payments at merchants simply by unlocking their mobile phone screen using fingerprints, the screen lock facility or an MPIN and tapping the phone at a Near-Field-Communication (NFC) POS. This simple ‘tap and pay’ contactless process has made card payments swifter, hygienic and more seamless for customers.

The service is powered by Comviva’s HCE Module from its mobiquity® Banking Suite, that leverages Host Card Emulation (HCE) technology and tokenization to deliver swift, seamless, secure and convenient contactless mobile payments to customers. Tokenization converts a customer’s card information into a device-specific digital token. Hence, while executing a transaction, a digital token is shared and the customer’s actual card information is masked, thus securing the transaction. In case the customer’s mobile device is misplaced, details of the card remain secure, as it is stored as digital tokens.

Pleased with the award wins, Mr. Ashwini Kumar Tewari, Managing Director & CEO, SBI Card said, “Driven by customer centricity, SBI Card has always been at the forefront of adopting latest technologies that benefit customers. SBI Card Pay is one such service that leverages next-gen HCE technology, allowing customers to create virtual version of their physical credit card on mobile phone and then tap the mobile phone on merchant’s NFC POS to make the payments. This ‘tap and pay’ contactless payment process is faster, secure and more convenient.”

Manoranjan ‘Mao’ Mohapatra, Chief Executive Officer at Comviva said, “We are honoured to receive these awards. The awards validates and recognizes Comviva’s efforts in bringing consumer focused, innovative and user friendly digital payment solutions to the market. Globally HCE and tokenization are making card payments frictionless and secure and we believe that in India also they will redefine the card payment experience. With the growing NFC POS infrastructure in India and mobile phones becoming de facto wallets for consumers, we expect ‘tap and pay’ services like SBI Card Pay are the future of card payments in India.”

Payments & Cards Awards 2020 are annual awards provided by Kamikaze, a premium B2B Media enterprise in India. PayTech Awards are global awards incorporated by London headquartered Fintech Futures, a popular digital publishing platform and knowledge hub for the worldwide fintech community. InnTech Awards are organized by Inkspell Media, an avant-garde B2B Media enterprise in India. All these awards celebrate and recognize the excellence and innovation in the technology, banking, payment and financial industries.

Comviva’s mobiquity® Banking suite provides a comprehensive solution to banks and financial institutions, to not only build, manage, optimize and deliver omni-channel banking experience, but also continuously iterate and engage the consumers, through instant configuration capability, personalization and experimentation engine. This platform empowers the banks to deliver a digital hyper-personalized experience enhancing customer’s lifetime value. mobiquity® is a multi-token service provider (TSP) solution that delivers agile and secure contactless payment experience to the customer, by leveraging HCE and Tokenization. The solution is readily integrated and certified for use with Visa’s VTS and Mastercard’s MDES solutions and provides support for any other TSP as well, using a single proprietary SDK, across devices. Comviva has both Visa ITSP and TR-TSP certifications.

Tradefeedr completes successful fund-raising round, with backing from IPGL

December 21, 2020 Published by TheFintechBuzz.com

Tradefeedr is pleased to announce that it has raised $3 million in early-stage financing, to modernise trading analytics workflows.

Over the past year Tradefeedr has signed up 14 liquidity providers and a number of clients to use the platform, including Goldman Sachs, UBS, XTX Markets and Insight Asset Management. Tradefeedr allows clients to query and analyse their FX trading data from participating liquidity providers and ECNs via a standardised API, enabling them to improve the quality of their trade execution.

The majority of the new funds come from IPGL, the private investment company owned by Lord Michael Spencer, the founder of global markets company, ICAP plc and subsequently financial technology business, NEX plc. IPGL is a leading fintech investor with a focus on new applications for the wholesale market.

Seth Johnson, former CEO of NEX Markets, is also supporting the fund raising and has been appointed as Tradefeedr’s Chairman to support the business in its development.

Tradefeedr was established in 2018 by Balraj Bassi and Alexei Jiltsov, who had previously worked together at Lehman Brothers and launched Blacktree, a macro systematic hedge fund.

Bassi and Jiltsov said: “We are excited by the support we have received from IPGL and that someone of Seth’s calibre has agreed to become our Chairman. We believe that our platform will deliver significant benefits to market participants, through improving collaboration and giving better access to trading information, which will lead to enhanced decision making. There is a huge demand for greater transparency in financial markets and Tradefeedr can help meet that demand.”

Seth Johnson said: “I am delighted to become chairman of Tradefeedr and have the opportunity to back the business. Tradefeedr is precisely the type of company we used to look to invest in when I was at NEX – one with great technology, a great product and great growth potential, as well as talented and expert founders. I am looking forward to working with Balraj and Alexei to help them deliver on the company’s potential.”

Michael Spencer added: “Tradefeedr is a really promising financial technology business, with the right combination of technical knowhow and market wisdom and I am very pleased to be able to back it at this stage in its development. I believe they have an excellent product and I wish Seth, Balraj and Alexei every success.”

MyInvestor heads list of top 5 neobanks in Spain

December 18, 2020 Published by TheFintechBuzz.com

Financial technology, or fintech, firms are on the rise. It is estimated that more than 300 of these companies are operational in Spain, providing an increasingly wide variety of services that include proposals for managing family finances, comparing mortgages and all kinds of financial products, payments services, financing, investment simulators, financial advice, cryptocurrency trading, bill payment, currency exchange, asset management, investment, and tax and accounts management. Instituto Coordenadas de Gobernanza y Economía Aplicada has convened a group of experts to analyse this specific field within the digital universe and one of the main conclusions is that neobanks are the category showing the most growth of all fintech firms and the most options for development within the finance sector, strongly powered by the digital transformation that has been forced by this year’s health crisis.

In contrast with traditional banks, neobank operations are exclusively digital, can be accessed at any time and from anywhere, and provide active finance sector users with flexible, transparent and low-cost access to a wide range of financial, investment and savings products and services. The Institute’s analysts consider that the growth trend being shown by neobanks is unstoppable. It is the optimal model in a virtual world, in which digital native customers are the ones who demand which financial business options suit their needs. The Institute’s analysts further emphasise that the response from neobanking platforms to that demand has been equally optimal. One of the basic elements of any business strategy in the digital setting is data management, which has been very efficiently harnessed by neobanks operating in Spain. Their priority has been to get to know customers and gather and analyse data with scrupulous care for data protection, in order to offer them the very best experience during their financial operations. A personalised service is the goal for neobanks in order to achieve a model of financial services provision that shows maximum efficiency and minimum cost.

The Institute’s analysis reflects the growth prospects that may be offered to neobanks by Spain’s recent law for the Digital Transformation of the Financial System, which provides controlled testing spaces for designing and verifying the functioning of new business models in the financial field. In addition, the experts assembled by the Institute agree with the consensus among financial analysts, who predict that in five years’ time 15% of banking business will be performed by neobanks.

What is the current situation of neobanking in Spain? As part of its analysis, the Institute has looked into how the main operators have evolved and has drawn up a list of the industry’s top 5, with MyInvestor the clear leader. The neobank, which has Andbank, El Corte Inglés Seguros and insurer Axa among its shareholders, is about to end the year with a turnover of more than €660 million, considerably ahead of the second-placed neobank, Indexa. The top 5 neobanks in Spain are as follows.

Ranking	Company	Volume (€M)
1	MyInvestor	660
2	Indexa	560
3	N26	100
4	Bnext	66
5	Orange Bank	64

MyInvestor also appears as one of Europe’s 15 biggest neobanks according to turnover The European top 15 list is as follows.

Ranking	Company	Country	Volume (€M)
1	Orange Bank	France	5,006
2	OakNorth	UK	4,363
3	Atom	UK	4,262
4	Revolut	UK	4,067
5	Nutmeg	UK	2,240
6	Scalable Capital	Germany	2,000
7	Monzo	UK	1,666
8	N26	Germany	1,500
9	Fidor Bank	Germany	1,372
10	Starling	UK	1,179
11	Moneyfarm	Italy	968
12	Tandem	UK	815
13	MyInvestor	Spain	650
14	Bunq	Netherlands	600
15	Monese	UK	555

Jesús Sánchez Lambás, Executive Vice President of Institute Coordenadas, says “Neobanks are destined to become the leading players in the financial sector’s digital future. They have all the favourable elements and circumstances to radically change the banking world. Their major challenge is to remain faithful to their original hallmarks: a digital base, transparency, data protection, flexibility and a low cost. They are the paradigm of the contradiction in which crises become a source of opportunity.”

SOURCE Instituto Coordenadas

Paxos Raises $142 Million in Series C Funding

December 18, 2020 Published by TheFintechBuzz.com

Paxos, the first regulated blockchain infrastructure platform, today announced it has closed a $142 million Series C round of funding. Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, led the round, which includes investments from Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital, Senator Investment Group and more. Previous Paxos investors also participated in the round, including RRE Ventures and Liberty City Ventures. To date, Paxos has raised more than $240 million in funding.

Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “In the last year, global adoption of crypto and blockchain-based solutions by enterprises has accelerated. We are proud to count among our clients‘ global leaders in payments, banking, trading and fintech, such as PayPal, Credit Suisse, Societe Generale and Revolut. Paxos is uniquely positioned to address the digital asset needs of global brands and bring our solutions to enterprises with trillions in assets and billions of end users. We are grateful for the support of our new investment partners which helps bring us closer to our vision for a more open, accessible economy.”

Paxos will continue investing in developing enterprise-grade infrastructure solutions while deepening its commitment to regulation, reliability and security. Paxos will use this capital to accelerate growth, including scaling its operations and platform capacity to meet the demands of its expanding customer base. The company plans to double the size of its team and will explore all opportunities for growth.

Brian Stern, Partner, Declaration Partners, said, “Paxos is executing on its ambitious, long-term mission at a remarkable pace. Through its relentless forward-thinking, Paxos has developed products and services that enable trusted access to digital assets, as well as dramatic efficiency and risk reduction to our traditional financial industry infrastructure. We are thrilled to support its continued growth and development of these innovative and inclusive solutions.”

“Paxos is a truly unique platform,” said Ajay Royan, Managing General Partner of Mithril Capital, “Chad Cascarilla and the Paxos team have pioneered a long-term approach that combines regulatory rigor with exceptional product engineering, enabling millions to seamlessly access the flexibility and choice afforded by an open, efficient, and user-centric financial infrastructure.”

Since the creation of blockchain technology, Paxos has been an industry pioneer at increasing trust and transparency. In 2020, it drove greater acceptance of digital assets by institutional audiences with recent achievements including:

The launch of Paxos Crypto Brokerage, a platform solution that powers crypto services for PayPal and Revolut US;
The issuance of more than $7.5 billion in stablecoins across three of the leading US dollar-backed stablecoins;
Becoming the first company to settle US equity trades on a blockchain outside of the legacy system (under No-Action relief from the US Securities and Exchange Commission staff); and
Confirmation of more than $3.5 trillion in commodities trades with its Post-Trade automation service.

SnapAP Secures New Equity Investment Financing, Led By Israel-Based Angel Group

December 17, 2020 Published by TheFintechBuzz.com

Snap Accounts Payable Corporation, developers of the SnapAP solution that streamlines entire Procurement To Payment workflow for mid-tier and enterprise market clients announced today it has completed the first stages of a planned $2MM (USD) Seed Stage round of financing being led by a group of angel investors all located in Israel.

This is the first-ever example of a Fintech Startup capital funding transaction with primarily Israeli investors for a company based within Atlantic Canada.

In addition due to COVID-19 restrictions and geographic location challenges, this entire investment pitching, negotiating and legal process was conducted 100% remotely via telephone, email and using online conference tools. Without any in-person meetings ever taking place during the entire 3-month period from initial meeting to signed agreement.

SnapAP was launched in January 2019 by Jean-Daniel (“JD”) Drapeau, based upon his prior 10-year career in process improvement consulting for mining industry operators. JD was joined by co-founders Sionne Roberts and David Jonah who have applied their own extensive experience with successful startups and managing high-growth businesses.

“This funding milestone is exciting and worth celebrating but at same time it is only another step within my overall long-term vision of SnapAP becoming a leading player for a global market that is literally valued in the trillions of dollars for annual spending.” said JD Drapeau, SnapAP’s founding CEO.

In less than 2 years of operations the SnapAP solution has been natively integrated with the Sage 300 version of ERP software for multiple clients and achieved Approved Partner status with Oracle, appearing in that global technology leader’s Cloud Business Marketplace starting in November 2020. Additionally there is now a mobile app version of SnapAP for Android, iOS and Windows devices.

With more than 50,000 active Buyer-side and Supplier users currently accessing the SnapAP platform every month, there are significant opportunities for continued new customer adoption of a proprietary solution that increases Accounts Payable Department employee efficiency by 10X while reducing the average cost of processing a payable invoice by 90% at same time.

“At the outset of learning what the SnapAP team had built, the opportunities that they had in the fintech space were clear”, commented serial global fintech entrepreneur Alicia Roisman Ismach. “The recognition of the strategies for growth that could be implemented in SnapAP and the clear value that they bring to their clients allowed for their introduction to global investors who are very familiar with this vertical.”

Following this Seed Round financing, by early 2021 SnapAP intends to announce its multiple new channel sales distribution partnerships that are currently being finalized at this time. In addition the Israel investors are leveraging their own connections for soon having SnapAP adopted by several high-profile clients in the banking and manufacturing sectors overseas.

According to Sionne Roberts, SnapAP’s co-founder and Chief Operating Officer, “We would not be where we are today without the valued support to-date of several key parties within the regional startup ecosystem. Including but not limited to Atlantic Fintech, Venn Innovation, ACOA, BDC, Opportunities New Brunswick, Propel, NBIF, Innovacorp and a group of local New Brunswick-based angel investors.”

Calvin Ayre closes investment in Bitcoin SV Experiential Reality (XR) company Transmira

December 17, 2020 Published by TheFintechBuzz.com

Transmira, Inc., the Raleigh-based start-up company pioneering Experiential Reality (XR) technology, today announces that it has closed an investment from noted technology entrepreneur, Calvin Ayre – founder of venture capital firm, Ayre Group Ventures and blockchain conglomerate, CoinGeek. The investment will be used to support the growth of Transmira and its Omniscape platform, which leverages the unique capabilities of the Bitcoin SV network and blockchain. Terms of the deal were not disclosed.

Transmira is leading the development of XR technology, which blends Augmented Reality (AR) and Virtual Reality (VR) features into a single XR Metaverse. The company is the developer behind Omniscape, an XR and spatial computing platform that leverages location-based data to create new commercial campaigns and experiences for brands, businesses and smart cities. Transmira is in the process of integrating Bitcoin SV with Omniscape, with the Bitcoin SV blockchain set to handle micropayments and tokenization for the platform, enable better data management capabilities, in addition to introducing new data functions that effectively enable monetisation of user activity, virtual items, location information, digital real estate and more.

With its unbounded scaling, greater data capacity and super low transaction fees (the median transaction fee on the Bitcoin SV network is less than 1/100 of a U.S. cent), the Bitcoin SV network is the only blockchain that can facilitate the realisation of the monetised XR world Transmira envisions for Omniscape – a concept previously only possible in works of fiction, like the OASIS in Ready Player One – where gameplay, virtual items, and user interactions can all be assigned a monetary value, enabling players to earn and exchange real money inside the virtual XR world. This can only be achieved with Bitcoin SV, which adheres to Satoshi Nakamoto’s original vision to massively scale Bitcoin to become a global data ledger for enterprise, in addition to functioning as an efficient peer-to-peer electronic cash system.

Speaking on today’s announcement, Robert Rice, founder and CEO of Transmira, commented:

“We are very excited to join the Ayre family of investments and the Bitcoin SV community. This gives us a powerful competitive edge, as well as the technical sophistication required to build Omniscape on-chain at global-scale. With Bitcoin SV, we can monetize AR and VR experiences securely, with speed and scale unparalleled in the industry, while driving seamless integration of 5G, IoT, and artificial intelligence. This enables advanced next-generation applications for augmenting smart cities, sports venues and stadiums, esports, tourism, hospitality, experiential marketing, commerce and more. This is future technology, today, built for a better tomorrow.”

Speaking on his investment in Transmira, Calvin Ayre, founder of Ayre Group Ventures and CoinGeek, said:

“I am a big believer in new digital worlds, and an even bigger believer in Bitcoin. Transmira is combining these two technologies to monetize its new XR Metaverse, recognizing that this is only possible with Bitcoin SV due to its massive scaling powers and restoration of Bitcoin’s original design. I am pleased to support Transmira as it creates innovative new augmented and virtual reality experiences for everyone to enjoy.”

Tag: Fintech

Technisys’s Digital Banking Processing Platform scored highest in the Architecture Criteria, in Retail Banking Report from Leading Independent Research Firm

Lion Announces Acquisition of Lion FinTech Group

Bank of Asia’s Founder Carson Wen Appealed to Privy Council in UK on Employment Dispute with Chad Holm

FinVolution Group Announces Continued Purchase of Shares by Chairman

Comviva and SBI Card win Payments & Cards, PayTech and InnTech Awards for SBI Card Pay service

Tradefeedr completes successful fund-raising round, with backing from IPGL

MyInvestor heads list of top 5 neobanks in Spain

Paxos Raises $142 Million in Series C Funding

Calvin Ayre closes investment in Bitcoin SV Experiential Reality (XR) company Transmira

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