Prontoblock and Mercantile Bank International Partner to Modernize the $1.25 Trillion Commercial Paper Market Through Tokenization

NEW YORK, N.Y., Aug 10, 2023 – (ACN Newswire) – Prontoblock, a leading digital asset fintech company, is pleased to announce its strategic partnership with Mercantile Bank International (MBI). This partnership aims to revolutionize the commercial paper market through the tokenization of these financial instruments.

This partnership will empower MBI clientele to engage in the purchase and issuance of tokenized commercial paper using Prontoblock's cutting-edge digital assets platform. Prontoblock will collaborate closely with issuers to identify the most suitable commercial paper instruments for tokenization.

The outstanding value of U.S. commercial paper exceeded $1.25 trillion at the end of 2022. Commercial paper works like fixed-income investments but tends to have rates higher than Treasuries with similar maturities, and even higher than bank savings deposit rates. Of the $1 billion in assets Prontoblock plans to tokenize by Q2 2024, $250 million will be high grade commercial paper.

Prontoblock's digital asset platform is revolutionizing investment opportunities such as hedge funds, private equity, fixed income and commercial paper. Leveraging the power of blockchain technology and smart contracts, the platform tokenizes financial assets issued by its clients, streamlining investment processes and enhancing operational efficiency.

Leveraging its strong track record of enabling clients to participate seamlessly in the digital asset realm, MBI offers high-quality, high-yield, and liquid short-term instruments such as commercial paper that generate attractive risk-adjusted returns.

Bill Gleason, CEO of Prontoblock, commented, "MBI, with its robust presence in the US digital asset space, is an ideal partner as they routinely generate excess liquidity and are in search of high-quality, short-term liquid instruments to invest their short-term liquidity and generate an attractive risk-adjusted return."

Bo Collings, CEO of MBI, echoed the sentiment, "Our alliance with Prontoblock perfectly aligns with our strategic vision. Tokenizing commercial paper allows us to provide a diverse array of investment opportunities to our clients while facilitating their access to liquidity. Through leveraging our advanced blockchain technology stack, we are poised to enhance client investment capabilities, yielding exceptional outcomes while meticulously adhering to US securities regulations."

By taking proactive measures to ensure that their financial solutions are compliant with relevant laws and regulations, both MBI and Prontoblock are solidifying their status as trusted partners for their global clientele, ensuring that their financial interests are safeguarded within the bounds of regulatory frameworks. As digital asset adoption and regulatory compliance regulations evolve, both companies remain committed to ensuring clients can navigate the complexities of the digital assets landscape with confidence.

About Mercantile Bank International

Mercantile Bank International ("MBI") is a licensed US bank, elevating the global banking and payments experience for its specialized clientele. From its inception in 2019, MBI has been a trailblazer in the digital assets arena. Armed with the unique authority to custody and transmit digital assets, MBI was among the earliest banks in the US to possess such privileges. Beyond being just a bank, MBI is dedicated to meeting the requirements of entrepreneurs and startups, particularly those driven by sustainable technology, digital assets, and disruptive technological breakthroughs.

About Prontoblock

Prontoblock is a fintech company that leverages blockchain technology to provide cutting-edge solutions for the financial industry. Led by a team with extensive expertise in capital markets and blockchain-based systems, Prontoblock develops solutions that enable financial institutions and businesses to streamline transactions, enhance security, and integrate digital assets seamlessly. The company is revolutionizing the financial landscape, offering secure and efficient transaction processing, analytics, and decentralized digital asset integration.

Contact:
Alex Gault
alex@prontoblock.com
415-830-6739

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

World Blockchain Summit (WBS) Presented by Nordek returns to Singapore for 25th global edition

WBS, an event by Trescon, is gathering the region’s leading voices in the web3 ecosystem as Asia puts down its marker as the home of blockchain and crypto. Join the countdown! Book your passes now for the most anticipated blockchain event of the year.

SINGAPORE, July 27, 2023 – (ACN Newswire) – #WBSSingapore, one of the world’s longest running blockchain events, is back! Taking place on 2nd-3rd August, this eagerly awaited summit will be presented by Nordek, the driving force behind innovation in the industry. Nordek, a leading web3 payment and gaming solution ecosystem, is taking the industry by storm with its recent entry into the Singapore’s leading crypto exchange, Coinstore.

With its association with one of the longest running blockchain event, World Blockchain Summit exhibits its commitment to the growth and rapid adoption of blockchain-based solutions. With its wide array of products, Nordek is playing a pivotal role in bringing web3 based payment platforms into the mainstream.

Sharath Ravi, CMO of Trescon, commented,” We are excited to have Nordek be a part of the World Blockchain Summit in Singapore. Partnerships like this aligns with our objective to empower businesses with the transformative solutions of blockchain-based solutions. The World Blockchain Summit in Singapore is a showcase of the latest innovations and provides attendees with valuable insights, actionable strategies, and exceptional networking opportunities.”

“We are thrilled to showcase NORDEK and its innovative features at the World Blockchain Summit Singapore 2023 and to launch some new products at the event,” NORDEK’s Raajessh Kashyap, CEO remarked. “Our vision is to build a blockchain ecosystem that is accessible and user-friendly for both businesses and consumers.” NORDEK is well-positioned to accelerate the widespread adoption of web3 payments with its technology and comprehensive portfolio of services. WBS will give us the right platform and visibility to bring our innovations to masses.”

The World Blockchain Summit has become a leading platform where top industry experts, web3 innovators and visionaries converge to deliberate over latest trends and technologies that are driving the transformative potential of the emerging technologies a step forward. World Blockchain Summit aims to drive collaboration and presents unlimited networking opportunities to its attendees.

Don’t miss the opportunity to be part of #WBSSingapore, where cutting-edge ideas and game-changing solutions will take centre stage. Engage with leading experts, entrepreneurs, and industry pioneers who will shape the future of blockchain. Unveiling the latest trends and advancements in the field, this summit offers a platform for funding opportunities, expert guidance, and invaluable networking.

Register now to secure your spot at World Blockchain Summit Singapore. Last few discounted tickets are up for grabs, so act fast to ensure your presence at the most thought-provoking blockchain event of the year.

Key Topics Include:

What Web 3.0 means for enterprises

NFT Market Overview: Trends & Opportunities

Bridging DeFi and CeFi

Value Creation in the Metaverse

Looking into the Future of Web3

DAOs: A Business-Building Opportunity

Digital Asset Solutions for Business

Regulation of Crypto Assets

The Big Picture: Market Outlook for 2023

Experience an exclusive exhibition area showcasing ground-breaking projects, dedicated spaces for investors to explore potential deals, and unparalleled networking opportunities with industry icons and pioneers.

To book your passes and gain access to this extraordinary event, visit: https://bit.ly/WBSG-GAINACCESS

About World Blockchain Summit (WBS)

World Blockchain Summit (WBS), a part of Trescon, one of the world’s fastest-growing organizers of emerging tech B2B events, demand gen services and more, is a web 3.0 focused events organizer. The management team has over 20 years of experience organizing successful conferences, expos, and summits. WBS works with web 3.0 industry leaders and innovators as advisors to ensure alignment with current market trends and needs.

About Nordek

Nordek is at the forefront of revolutionizing Web3 with its innovative payment and gaming solutions. Through its light speed-fast ecosystem, Nordek empowers consumers and businesses to embrace the potential of blockchain technology. Whether integrating solid codes or crafting tailor-made solutions, Nordek’s optimized blockchain platform enables seamless payment and gaming experiences.

Get ready to mingle with our stellar partners:

Presenting Partner: NORDEK

Lead Sponsor: FIRDAOS

Gold Sponsor: PHOENIX, TELESIGN

Silver Sponsor: HUMBL, MILLIONERO, GPTCoin, FUTURECX

Bronze Sponsor: MIMO, ZOKSH

Pitch Partner: U2U FOUNDATION, FLOIN

Exhibitors: SINGAPORE BLOCKCHAIN INNOVATION PROGRAMME, MRMINT, ESPSOFTTECH

Association Partner: WOMEN IN BLOCKCHAIN ASIA

For inquiries, Contact: comms@worldblockchainsummit.com

Global Crypto Community Convenes at Dubai’s Blockchain Economy Summit, Uniting Industry Leaders for a Groundbreaking Event on October 4-5, 2023

DUBAI, Jul 25, 2023 – (ACN Newswire) – The Blockchain Economy Summit, recognized as the world's largest blockchain conference network, is set to redefine the future of finance by bringing together key players and experts from the crypto industry. The highly anticipated 8th edition of the summit will take place over two days in Dubai on October 4-5, 2023, in Le Meridien Dubai Hotel & Conference Center, attracting the world's top crypto companies, blockchain entrepreneurs and AI innovators.

Solidifying its position as a premier event in the blockchain and cryptocurrency space, the Blockchain Economy Summit has achieved remarkable success with previous editions held in London and Istanbul earlier this year. These highly acclaimed summits have further established the event's global reputation. Notably, OKX, the World's second-largest crypto exchange, proudly serves as the Exclusive Title sponsor for all of Blockchain Economy's 2023 Summits.

As Dubai rapidly emerges as a global crypto hub, the Blockchain Economy Dubai Summit will serve as the region's premier gathering, representing the world of blockchain, cryptocurrency and AI. With participants from over 85 countries, this prestigious event offers a comprehensive program focused on the future of financial technologies, providing extensive networking opportunities for attendees.

"We are thrilled to be back in Dubai, a city at the forefront of embracing blockchain technology," said Servi Aman, General Manager of the Blockchain Economy Summit. "Dubai's strategic vision and commitment to innovation perfectly align with our mission to shape the future of finance. This event will spark collaboration and exploration of groundbreaking ideas, driving the crypto industry forward."

The Blockchain Economy Dubai Summit will feature renowned speakers from various sectors of the tech industry. The first lineup of notable speakers joining the event this year includes:
1. Martin Hanzl – Head of New Technologies at EY Law
2. Lennix Lai – Global Chief Commercial Officer at OKX
3. Fred Sun – Head of Strategy at Tencent Cloud International
4. Matthew Sigel – Head of Digital Assets Research at VanEck
5. Michael van de Poppe – Crypto Investor, Technical Analyst and CEO of MN Trading
6. Charles Cheng – Ph.D, Forbes China 60
7. Sam Blatteis – CEO of The MENA Catalysts
8. Alex Fazel – Chief Partnership Officer at SwissBorg

These influential speakers, along with many others, will share their expertise and insights, contributing to the vibrant discussions and knowledge exchange at the summit.
The summit will delve into the latest developments and trends within the blockchain, cryptocurrency and AI space, featuring industry leaders, engaging panel discussions, and opportunities for growth and investment. With top crypto companies and tech entrepreneurs converging in Dubai, the event will serve as an unparalleled platform for networking, knowledge sharing, and fostering strategic partnerships.

Dubai's dynamic ecosystem, progressive regulatory framework, and thriving crypto community provide the ideal backdrop for the Blockchain Economy Dubai Summit. The event aims to solidify Dubai's position as a global leader in blockchain innovation and accelerate its journey towards becoming a prominent crypto hub.

For more information about the Blockchain Economy Dubai Summit and to secure your participation, please visit the below links:

Tickets: https://beconomydubai.com/tickets
Sponsorships: https://beconomydubai.com/why-sponsor
Discounted Hotel Booking: https://beconomydubai.com/venue

Name: Blockchain Economy Dubai Summit 2023
Date: October 04-05, 2023
Venue: Le Meridien Dubai Hotel & Conference Center
Event Hashtag: #BESUMMIT
Contact address: contact@teklip.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Sarson Funds Employs Blockpass’ KYC for BCH, CSPR Stablecoins

HONG KONG, Jul 20, 2023 – (ACN Newswire) – This week sees the announcement that capital management firm Sarson Funds is using Blockpass' On-Chain KYC(R) solution, alongside Accountable's on-chain proof-of-reserve validation, to create the most transparent and trusted stablecoins on the Bitcoin Cash (BCH) and Casper (CSPR) blockchains. The asset-backed U.S. dollar stablecoins will exclusively hold Circle's USDC as collateral which will be held on-chain with a publicly verifiable address.

According to Sarson Funds, placing 'pre-compliant' stablecoins on the Bitcoin Cash and Casper Networks will allow those communities to transact confidently knowing that emerging regulations will not interrupt transactions or turn off token availability for US-based customers. Sarson Funds has deep knowledge of the stablecoin marketplace having run a stablecoin portfolio since 2020 and has multiyear relationships with the development teams at Casper Network and Bitcoin Cash. This launch will be Sarson Fund's first foray into issuing stablecoins, and they cite increasing demand in both ecosystems as the catalyst for the product launch.

Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently, with around one million verified user identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to get access to users, including those with unhosted wallets, with reusable digital identity profiles.

"Over the past two years, it has become clear that stablecoins are a vital part of a blockchain's ecosystem and that not all stablecoins are created equally." said John Sarson, CEO of Sarson Funds. "Assuming the eventual passage of the Responsible Financial Innovation Act, stablecoins will need to be collateral-backed and will need qualified banking partners. Modern stablecoins need to meet higher standards for compliance, proof-of-reserves and KYC. The days of stablecoin issuers cutting corners and playing dumb are over."

"We're very proud to have been selected by Sarson Funds to provide compliance measures for such a significant development." said Adam Vaziri, Blockpass CEO. "Being a blockchain-agnostic solution allows us to help those who require regulatory solutions on any network and with our goals so aligned to Sarson Funds' we're delighted to facilitate the projects on BCH and CSPR."

Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations and legal developments have led to a surge in interest for Blockpass' On-Chain KYC(R), the only live zero knowledge solution for Crypto KYC, and Unhosted Wallet KYC solution finally enabling blockchains and DeFi platforms to have a compliance layer. Through its work with Animoca Brands from early 2022, Blockpass provides a zero knowledge KYC service where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.

About Sarson Funds

Founded in 2017 and located in Indianapolis, Indiana, Sarson Funds, Inc. manages capital for accredited investors and provides institutional crypto market and web3 services. With Wall Street roots, Sarson Funds, Inc. has a reputation for regulatory compliance and investment excellence. Designed as an advisor to the advisor, Sarson Funds has focused on empowering Financial Professionals through education on cryptocurrency and blockchain, a mission which was recently handed off to the Boston-based American Crypto Academy in a January 2023 spinoff.

Website: https://sarsonfunds.com/
American Crypto Academy: https://www.americancryptoacademy.org/

About Blockpass

Blockpass is building trust in the Crypto Economy by providing….
– A home for all your Crypto KYC needs – KYC & AML for DeFi, exchanges & blockchains, Travel Rule provision for regulated VASPs, and blockchain forensics.
– A decentralized network of around one million crypto enthusiasts with portable KYC profiles and around one thousand business customers.
– The fastest, most affordable, fully stacked KYC & AML screening in the Crypto sector.
– The first and only KYC & AML "Crypto Travel Rule" solution for unhosted wallets.
– An automated end-user support desk that reduces onboarding time and onboarding costs.

In 2021, Blockpass was invited to enter the Cohort 7 of the UK Financial Conduct Authority Sandbox to offer a pilot our solutions for the UK market. Blockpass also introduced the On-Chain KYC(R) solution that enables customers to access zero-knowledge verification of users so they can access provably completed verifications and adhere to standards without seeing the underpinning data. In 2022, Animoca Brands and Yuga Labs utilized On-Chain KYC(R) when they verified over 150,000 users in the $320 million Otherside NFT sale – the largest to date in Crypto sector history. The Blockpass App is available from the App Store and Google Play.

For more information and updates, please visit and sign up to the following:
Website: http://www.blockpass.org
Email: sales@blockpass.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Crypto Oasis Ventures Opens New Venture Studio Office at DIFC Innovation Hub and Signs Memorandum of Understanding (MoU)

DUBAI, UAE, Jul 19, 2023 – (ACN Newswire) – Crypto Oasis Ventures the inceptor of the fastest growing Blockchain ecosystem in the world, the Crypto Oasis, has signed a Memorandum of Understanding (MoU) with Dubai International Financial Centre (DIFC), the leading financial hub in Dubai.

Faisal Zaidi and Mohammad Alblooshi

Under the terms of the MOU, Crypto Oasis Ventures will support the DIFC Innovation Hub with subject matter expertise for their ongoing and upcoming start-up accelerator programmes. The announcement coincides with Crypto Oasis Ventures official opening of its second office in the DIFC Innovation Hub for its Venture Studio. The move signifies Crypto Oasis Ventures' commitment to expanding its presence in Dubai and further strengthens its position as a key player in the global Blockchain ecosystem.

"We are thrilled to partner with Dubai International Financial Centre (DIFC), a renowned financial hub known for its regulatory excellence and commitment to fostering innovation," said Faisal Zaidi, Co-Founder and CMO of Crypto Oasis Ventures. "By establishing our office within the DIFC Innovation Hub, we aim to leverage The Centre's vibrant ecosystem, collaborate with like-minded organisations, and explore new opportunities for growth."

DIFC is a leading global international financial centre that plays a pivotal role in driving economic diversification and innovation in the region. As a strategic partner, DIFC will provide the Crypto Oasis Ventures ecosystem with access to a network of global investors, industry experts, and regulatory resources. This collaboration will facilitate the development of cutting-edge blockchain solutions, positioning Crypto Oasis Ventures at the forefront of the digital transformation in the financial sector.

Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub commented: "The DIFC Innovation hub has a long history of partnering with leading and visionary institutions to enable business growth for our start-up ecosystem. This partnership will bring immense value to start-ups participating in our various accelerator programmes this year who will be able to leverage on Crypto Oasis's expertise to amplify their existing business models."

"We are pleased to see Crypto Oasis expand their presence here in Dubai at the DIFC Innovation hub as they continue to innovate and drive growth in collaboration with our vibrant community of tech and innovation disruptors," he added.

The strategic location of the Crypto Oasis Studio, at DIFC Gate Avenue, will enable Crypto Oasis Ventures to enhance its operations and strengthen its relationships with key stakeholders. By establishing a physical presence within DIFC Innovation Hub, the company aims to attract top talent, collaborate with industry leaders, and forge partnerships that drive Blockchain adoption globally.

About Crypto Oasis Ventures

Crypto Oasis Ventures is a leading Venture Builder with a strong focus on the Middle East and North Africa region. It has successfully established the Crypto Oasis Ecosystem, which has emerged as the world's fastest-growing Blockchain Ecosystem. In the United Arab Emirates alone, the ecosystem has identified over 1,800 organizations and boasts a workforce of more than 8,650 individuals dedicated to the Blockchain industry. The ecosystem encompasses various stakeholders, including Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers, and Government Entities & Associations.

As one of the pioneers in the local venture-building landscape, Crypto Oasis Ventures benefits from a global network and maintains robust connections to the renowned Crypto Valley in Switzerland. Notably, it holds the distinction of being the first Web3 venture-building company based in the Dubai International Financial Centre (DIFC). The primary goal of Crypto Oasis Ventures is to nurture the ecosystem and expedite the growth of Web3-related organizations in the Middle East, North Africa and beyond.

Crypto Oasis Ventures has spearheaded several successful ventures, including Crypto Oasis Labs, Crypto Oasis Sentio, arte, Crypto Oasis Games Guild, Inacta Communications, and The Green Block. These ventures showcase the company's commitment to innovation, collaboration, and sustainable development within the Web3 space. For more information, visit www.cryptooasis.ae.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of over 36,000 professionals working across over 4,300 active registered companies – making up the largest and most diverse pool of industry talent in the region.

The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations.

For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.

For media enquiries, please contact:

Maria Fernandez
Marketing Manager, Crypto Oasis Ventures
Tel.: +971 056 385 3146
E-mail: maria@cryptooasis.ae

Omar Nasro
ASDA'A BCW | +9714 450 7600 | omar.nasro@bcw-global.com

Rasha Mezher
Dubai International Financial Centre Authority
Consultant, Marketing & Corporate Communications
+97143622451 | t-rasha.mezher@difc.ae

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Xtreme Business Enterprises Launches World’s First DOT Standard 3+2 STO

HONG KONG, Jul 14, 2023 – (ACN Newswire) – In line with China's 14th Five-Year Plan, which supports Hong Kong's development as an international innovation and technology hub, the Government of the Hong Kong Special Administrative Region has successively introduced a number of measures to promote the healthy development of Web 3, blockchain assets and smart city initiatives – driving market demand for digital ownership verification.

(Photo caption) Dr. Herbert Lee, Founder and Chairman of Xtreme Business Enterprises Limited (XBE) (fifth from left), Group Chief Executive Officer of XBE, Mr Julian So (fourth from right), Ir. Tony WONG, JP, Government Chief Information Officer (sixth from left) and other officiating guests celebrate the launch of the world's first Digital Ownership Token (DOT) Standard 3+2 Security Token Offering (STO).

(Photo caption) Group Chief Executive Officer of XBE, Mr Julian So (right) and Managing Director of Prosynergy, Ex-SFC regulator, Mr. Louie Lee (left) share insights about the potential, the market trend as well as the future development of the DOT Standard STO.

As one of the leaders in this industry, Xtreme Business Enterprises Limited ("XBE") today announced the launch of the world's first Digital Ownership Token (DOT) Standard 3+2 Security Token Offering (STO). Based on its pioneering DOT technology, XBE's STO will help drive the future development of Web 5 (centralised Web 2 + decentralized Web 3) and blockchain assets.

Unlike other digital tokens, XBE's pioneering DOT uses blockchain technology to record legal documents and smart contracts – providing authentication and legally enforceable ownership over real tangible and/or intangible assets. DOTs can be applied across many different assets and industries, including intellectual property, real estate and memberships.

DOT Standard 3+2 STO provides greater certainty, efficiency and security

DOT Standard 3+2 STO uses the DOT standard to record bond documents and corresponding smart contracts into the Bond Security Token. As such, the token itself becomes the security – allowing token holders to directly hold and control their own assets, while enhancing the certainty, security, efficiency and transparency of security tokens. DOT also eliminates the need for a third-party custodian to hold onto the underlying asset, mitigating risks associated with traditional securities custody.

XBE leverages DOT standard STO to provide a more advanced, efficient, secure and cost-effective alternative to bond offerings. In addition to using the DOT standard, 3+2 STO also includes three professional audits (i.e. Security Token, Legal and Regulatory Audits) and two opinions (i.e. Legal and Regulatory Opinions) to provide greater certainty and security. DOT Standard 3+2 STO fully implements and adopts blockchain and smart contract technologies. The clear record of bond ownership effectively protects the interests of investors, providing a more secure, efficient, transparent and innovative bond offering approach for the capital markets.

XBE's pioneering DOT technology leads bond market innovation

XBE's proprietary technology, the world's first DOT Standard 3+2 STO, is already gaining customer recognition and support. XBE's partner, China Information Technology Development Limited ("China Information Technology" or "CITD", HKEx stock code: 8178) will issue bonds with an aggregate principal amount of up to HK$100 million, documented using blockchain technology in place of other documentation tools and implemented using the DOT standard. This technology provides greater efficiency, security and transparency for bond holders. Reducing the risks associated with traditional securities custody, DOT standard STOs are expected to become widely adopted in the future, eventually replacing other form of documentation. Hong Kong is taking the lead in the development of Web 5 applications, helping corporations enhance their brand image and unlock new business opportunities, creating a win-win situation.

Dr. Herbert Lee, Founder and Chairman of Xtreme Business Enterprises Limited (XBE) said, "XBE is committed to promoting the development of Web 2 + Web 3, blockchain assets and smart city initiatives, synchronising the future development of Mainland China and Hong Kong. We are delighted to be using the DOT standard for STOs, which proves that the DOT technology created by our team can be applied to various assets and industries."

Mr. Daniel Wong, Chairman and CEO of China Information Technology Development Limited (CITD) said, "The use of blockchain technology in place of other documentation to issue bonds proves that we can fully implement and adopt the use of blockchain and smart contract technologies through DOT standard STO. We are encouraged to see Hong Kong taking a leading position in this arena."

As the pioneer of DOT Standard 3+2 STO, XBE uses blockchain and DOT technology to effectively address authentication of real tangible or intangible assets. By continuing to innovate and upgrade DOT, XBE aims to apply the technology to more assets and industries, create new value and revolutionise the development of digital assets – opening up new possibilities in Web 5 and consolidating its leading position in the industry.

About Xtreme Business Enterprises (XBE)
Xtreme Business Enterprises (XBE) is a technology group with deep expertise and broad experience in Web 5 (Web 2 + Web 3) and its responsible adoption and implementation by companies in all industries. XBE leverages blockchain and Digital Ownership Token (DOT) technology to revolutionise traditional business models, creating and enhancing the lasting value of intellectual property, including ownership and its rights. XBE is also an efficient venture builder and incubator of new technology companies and new business divisions. XBE has two successful companies that are presently already traded on the US Over-the-Counter (OTC) Markets, including COINLLECTIBLESTM, the world's first DOT company disrupting the arts and collectibles industry, and MARVIONTM, the world's first DOT company disrupting the media and entertainment industry.

To learn more about XBE, please visit www.XBE.com.

About China Information Technology Development Limited (CITD – 8178.HK)
China Information Technology (CITD – 8178.HK) is a company listed on the Hong Kong Stock Exchange and wholly owns two subsidiaries – DataCube and Macro Systems. The business of the group is mainly providing integrated marketing artificial intelligence (AI) solutions, big data analytics, cloud technology, system integration services and data storage to clients across different industries in Asia.

To learn more about CITD, please visit www.CITD.com.hk.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CIPHER-CORE, INC., Introduced in Bangladesh

AUSTIN, TX, Jul 13, 2023 – (ACN Newswire) – Mr. Takatoshi Nakamura CEO, Pres. and Mr. Motoyuki Odachi, COO, Dir. of CIPHER-CORE, Inc., Colorado, USA publicly held company (OTC PINK:CFCI) visited Dhaka, capital of People's Republic of Bangladesh 6/12/2023-6/17/2023 to discuss using CIPHER-CORE, Inc. internationally patented technology "complete cypher" for Central Bank Digital Currency (CBDC) with the officials of Bank of Bangladesh.

"Daily Business Eye" one of the most influential daily papers in Bangladesh reported 6/18/2023 that a two-member delegation of Japan's company "Cipher-Core co. Ltd" 100% subsidiary of CIHER-CORE, Inc. USA is now visiting Bangladesh to meet with several officials including Bangladesh Bank (BB), Ministry of Finance and others.

During the discussions, many questions were related to the one and only technology related to "complete cypher" which is not using the ledger system in various financial fields but instead using "complete cypher" that protects even quantum computer attacks. They have made an offer to Bangladesh Bank to introduce the CBDC using their technology. The discussions shall be continued further when visiting Dhaka again 7/28/2023 – 8/01/2023.

During the visit, Mr. Nakamura and Mr. Odachi visited the Japanese Embassy in Bangladesh. Mr. Odachi reported to Ambassador Kiminori Iwama the purpose of their visit to Bangladesh. Mr. Iwama introduced Mr. Tomohide Ichiguchi, the Representative of the Bangladesh office of, Japan International Cooperation Agency (JAICA) to Mr. T. Nakamura and Mr. M. Odachi. JAICA is the agency in charge of administering Japan's Official Development Aid (ODA).

Mr. Odachi, COO of the company, a former deputy minister of finance of Japan, wants to get JICA's financial assistance to Bangladesh on this "complete cypher" project for CBDC for the costs being incurred during the development stage as technical cooperation is one of JICA's three major areas of development assistance, the others being grants and yen loans.

Investor Relations:
Claire Singleton
Tel: 801-580-9928
Email: clairesingleton@aol.com
URL: http://www.cipher-core.com/en

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Oku Launches Advanced On-Chain DEX Trading System

CHICAGO, IL, Jul 10, 2023 – (ACN Newswire) – In a major leap forward for decentralized trading, GFX Labs has announced the launch of Oku. The innovative platform offers an intuitive yet robust interface for Uniswap v3, the leading decentralized exchange (DEX) protocol in the world of decentralized finance (DeFi).

Meet Oku Trade – The Most Advanced DeFi Trading Platform, Powered by Uniswap V3

Born from the need to improve the underwhelming trading interface of existing DEX protocols, GFX Labs was awarded a $1.6 million grant by the Uniswap Foundation to tackle this challenge and establish Oku. The platform addresses the needs of pro-retail traders by offering advanced features typically found in traditional exchanges such as Binance or Coinbase, including order books, price charts, depth charts, trading history, user order history, and more.

"After a year of growing mistrust in centralized institutions, Oku presents a compelling solution for traders combining the security and trust of the Uniswap Protocol with the speed and creature comforts of a centralized exchange. The Uniswap Foundation is proud of the work done by GFX Labs and is excited for crypto traders around the world to level up their DEX trading experience," says Devin Walsh, the Executive Director at the Uniswap Foundation.

Oku is available on Ethereum, Polygon, Arbitrum, and Optimism, with more chains coming soon. Its interface supports all existing and new Uniswap v3 pools, and no token listing request is required, unlike traditional exchanges. The platform dramatically surpasses the industry standard, boasting a comprehensive and speedy analytics site that offers detailed pool, position, and token information. In addition, it brings the capability for limit orders that can be configured for any pool, reshaping the expectations for user accessibility and experience in the process.

The platform's trader-oriented design allows users to switch between markets quickly and efficiently, track their historical activity, and view live trading. Users can place bids and offers at specific prices, and don't need to be present for their fulfillment, a feature unique to Oku's trading system.

"As the first robust trading infrastructure built upon the advanced Uniswap v3 protocol, Oku is poised to rival the industry's leading centralized exchanges. Simultaneously, Oku sets itself apart with a user-friendly interface and intuitive design, making complex trading operations straightforward and visually appealing," affirmed the Oku team.

About Oku

Experience the future of decentralized trading with Oku, a front-end built for the Uniswap v3 protocol and seeded by the Uniswap Foundation. Oku goes beyond the standard trading interface, offering professional-grade features like live order books, detailed price charts, advanced limit orders, and a customizable favorite markets list. Designed with an intuitive interface that caters to both novice and experienced traders, Oku seeks to fill the gap between Uniswap and traditional exchanges. Our commitment is to enhance the DeFi user experience and pioneer the next generation of trading, making the transition from centralized to decentralized platforms seamless and empowering. For more information, visit https://oku.trade.

Contact Information
Michael Herron
Head of Marketing
mherron@gfxlabs.io

Related Video
https://www.youtube.com/watch?v=6XPRsFScCvQ

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GigaSpace Secures Investment from STEPN’s Creator Find Satoshi Lab & ProDigital Future Fund for Creating a Virtual City for Runners

HONG KONG, Jul 7, 2023 – (ACN Newswire) – GigaSpace, a new web3 community metaverse, is pleased to announce a significant milestone in its growth journey with a strategic investment from Find Satoshi Lab, the parent company of the popular web3 lifestyle app STEPN, and ProDigital Future Fund, a leading web3 venture capital fund at the forefront of web3 investments. This investment will serve as the cornerstone for the next strategic round, with a target of raising $3 million this year to accelerate GigaSpace's expansion plans, including the creation of a STEPN virtual city for the fitness-loving community.

Find Satoshi Lab's investment in GigaSpace is a testament to the shared vision of revolutionizing the web3 community experience through innovative ideas and forward-thinking solutions. With their deep expertise in the web3 space and their remarkable track record with STEPN, Find Satoshi Lab brings invaluable strategic guidance and resources to fuel GigaSpace's growth and market presence.

"We're thrilled to announce our strategic partnerships with Find Satoshi Lab and ProDigital Future Fund. With their invaluable resources and thriving community, we are excited to unlock new opportunities and provide exciting events and utilities for fitness enthusiasts within the GigaSpace ecosystem. Stay tuned for the incredible journey ahead!" says M, co-founder of GigaSpace.

GigaSpace is a shared metaverse with social and game elements that bring together web3 communities, providing a lively social environment for individuals to connect and interact. By empowering communities to build within the metaverse, GigaSpace encourages community engagement and facilitates the exploration of novel use cases for NFTs and tokens.

The funds from this strategic investment will fuel the development of STEPN City, a sports-themed virtual world that offers a wide range of facilities and spaces. Within STEPN City, users will find features like the STEPN Maze, STEPN Community Center, STEPN Mall, and STEPN Tower. These environments allow users to not only purchase merchandise but also organize community events and engage with each other in meaningful ways.

"We at Find Satoshi Lab are extremely excited about this opportunity to strategically invest in Gigaspace and grow alongside with the dedicated team that will be building a lot of event space for our ecosystem. This marks the potential unleash of all you can imagine about recreational activities and hang-outs in the "metaverse". We are particularly thrilled for the synergy it can bring for MOOAR and STEPN via working with Gigaspace," says Mable Jiang, Chief Revenue Officer of Find Satoshi Lab.

In collaboration with Find Satoshi Lab, Prodigital Future will spearhead the upcoming strategic investment round for GigaSpace, aiming to expedite the company's expansion plans.

"We are delighted to be early believers in GigaSpace and are committed to supporting its future endeavors. Like STEPN, we recognize the team's passion for gaming and their ability to leverage their expertise in the web3 space to create market-fit applications and experience rapid growth. Last year, while assisting STEPN in establishing its presence in Hong Kong, we had the opportunity to introduce the GigaSpace team to Find Satoshi Lab. Now, we are thrilled to join forces with Find Satoshi Lab in this investment venture. This is just the beginning of an exciting and promising future," said Curt Shi, Founding Partner of ProDigital Future Fund and an early investor in STEPN.

About GigaSpace
GigaSpace is creating a collaborative and expansive metaverse that unites all web3 communities under a single celestial sky. By providing robust infrastructure and utilities, it empowers communities and projects to seamlessly integrate with its virtual world, saving time and resources while fostering innovation and exploration. For additional information, visit: https://www.gigaspace.io/

About Find Satoshi Lab
Founded in 2021, Find Satoshi Lab (FSL) is a gaming and development studio connecting players to Web3. FSL's mission is to educate and introduce individuals to Web3, while encouraging healthy living, and combating climate change. FSL brands include STEPN, MOOAR, and DOOAR. For additional information on Find Satoshi Lab, visit: http://findsatoshilab.com/

About Prodigital Future Fund
ProDigital Future Fund is a Web3 venture fund led by Ben Ng, a venture partner at an Asian private equity firm called SAIF Partners, and Curt Shi, a long-time tech investor in Web3 space. ProDigital Future Fund's investment strategy is to target early-stage and developing ventures, mostly Chinese-connected tech companies that are transitioning into emerging technologies such as Web3. For additional information on ProDigital Future Fund, visit: http://www.prodigitalfund.com/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GBA Business Confidence Index eases to the 50 neutral mark

HONG KONG, Jul 3, 2023 – (ACN Newswire) – Standard Chartered and the Hong Kong Trade Development Council (HKTDC) today released the Standard Chartered GBA Business Confidence Index (GBAI) for the second quarter of this year. The current performance of "business confidence" eased to the 50 neutral mark while the expectations index remained in the expansionary territory (58.7), the second-highest reading in two years. The headline expectations index for credit also remained expansionary at 51.6, reflecting sanguine underlying growth expectations among companies in the region. Both expectations and credit indices point to further recovery in the third quarter.

Resilient investment appetite

The softer Q2 GBAI readings were expected considering the strong first-quarter GBAI performance brought by Mainland China's swift post-COVID sentiment rebound. The performance of underlying sub-indices was more diverse this quarter after a more uniform increase in Q1. Fixed Asset Investment had the highest score of 52.9 among components, suggesting that respondents remained optimistic towards the longer-term GBA business outlook, by acknowledging the need to invest in capacity expansion in anticipation of further demand normalisation.

Industry sub-indices vary

The current performance index for Professional Services rose 4.0 points to an industry-best 56.1. The sector's expectations index also outperformed by being the lone print above 60 (61.9). The current performance and expectations index of Financial Services and Innovation and Technology saw the largest quarter-to-quarter drops among sectors. Financial respondents' sentiment was driven by margin pressures and credit worries amid an easing recovery momentum while the tech sector continues to face many headwinds, led by the ongoing global semiconductor downcycle.

China on modest recovery path

"The dip in the index in Q2 reflects the normalisation of base effects, softening of nationwide macro data quarter-to-date, and the novelty of reopening was bound to wear off. However, the index did not fall back into contractionary territory, suggesting only a softening of the recovery momentum. Given that GBA is a microcosm of Mainland China's diverse economic drivers making it a bellwether for overall growth, we see the mainland managing to stay on a modest recovery path," said Mr Kelvin Lau, Senior Economist, Greater China, Standard Chartered.

More diverse performance among GBA cities

There was a more diverse city performance among the current performance sub-indices. Most notably, Shenzhen (from 51.5 to 51.9) and Dongguan (from 53.5 to 56.4) showed their second consecutive improvement while other city sub-indices fell. Shenzhen weathered weaker responses from its tech respondents by posting the highest manufacturing and trading score among all city sub-indices. Guangzhou and Hong Kong, the other two GBA core cities, outperformed Shenzhen across the other four industry sub-indices.

Sustained recovery momentum in the coming quarters

Ms Irina Fan, Director of Research at the HKTDC, said: "We continue to take comfort from the fact that all city expectations indices stood comfortably in the 50+ expansionary territory, consistent with our view of a sustained recovery momentum in the coming quarters. That includes Hong Kong, which, despite returning to the lowest score of the pack, still managed to record a solid 54.7 expectations print (led by retail and professional services), making it two straight quarters of expansion."

Overseas global supply chain migration yet to happen

Although there has been a lot of discussion about global supply chain shifts in the market, 91% of survey respondents said they have not moved any capacity overseas, and 87% reported no plans to do so for now. The survey found the biggest hurdles and concerns for relocating production capacity overseas are "cost of production higher than expected" topped the list at 34.6%, followed by "poor labour quality and productivity" at 29.9%, and "lack of good suppliers / proximity to suppliers" at 22.8%.

Related materials
– Standard Chartered GBA Business Confidence Index Report: https://www.sc.com/hk/gba/gba-index-report/
– HKTDC Research: https://research.hktdc.com/en/article/MTQxNzI2NzQ2MA

About Standard Chartered

We are a leading international banking group, with a presence in 57 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

The history of Standard Chartered in Hong Kong dates back to 1859. It is currently one of the Hong Kong SAR's three note-issuing banks. Standard Chartered incorporated its Hong Kong business on 1 July 2004, and now operates as a licensed bank in Hong Kong under the name of Standard Chartered Bank (Hong Kong) Limited, a wholly owned subsidiary of Standard Chartered PLC.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries

Corporate Affairs Department
Standard Chartered Bank (Hong Kong) Limited
Sharon Cheung, Tel: +852 3843 0144, Email: Sharonps.cheung@sc.com

Communications & Public Affairs Dept
Hong Kong Trade Development Council
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

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