Tag: FinTech

Dubai Fintech Summit Welcomes Crypto Oasis as Web3 Ecosystem Partner

DUBAI, UAE, May 4, 2023 – (ACN Newswire) – Dubai Fintech Summit is proud to announce its partnership with Crypto Oasis as the official Web3 Ecosystem partner for the upcoming summit, which will take place on 8th and 9th May 2023.



The Crypto Oasis is a MENA focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for its growth are Talent, Capital, and Infrastructure. The Ecosystems stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers and Government Entities & Associations. Crypto Oasis' vision is to be one of the leading Blockchain Ecosystems in the world. Today it is the fastest growing Blockchain Ecosystem in the world, with more than 1,650+ organisations identified in the UAE alone with more than 8,300+ individuals working in the space.

As the official Web3 Ecosystem partner, Crypto Oasis will play a vital role in shaping the discussion around emerging technologies and their impact on the fintech industry. Attendees can expect to learn from some of the brightest minds in the industry and gain insights into the latest trends and developments.

Through this partnership, Crypto Oasis will have a significant presence at Dubai Fintech Summit. Attendees can expect to see Crypto Oasis representatives participating in various panel discussions throughout the event. In addition, Crypto Oasis will be be launching the second edition of their UAE Crypto Oasis Ecosystem Report which is the first report of its kind for the UAE blockchain space, providing unique insights into the fastest growing blockchain ecosystem in the world.

"Initiatives like the Dubai Fintech week underline Dubai's aspiration to be the fintech capital of the world. Fintech is an important cornerstone of every WEB3 ecosystem, like the Crypto Oasis," said Ralf Glabischnig, Founder, Crypto Oasis. "We have now developed two of the worlds leading ecosystems in WEB3, Switzerland and UAE and strong partners like DIFC are important partners to scale them!"

Dubai Fintech Summit is one of the premier events in the fintech industry, bringing together leaders from around the world to discuss the latest trends and developments. With a focus on innovation and emerging technologies, Dubai Fintech Summit is the perfect platform to showcase the latest advancements in Web3 Ecosystems.

The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai. Visitors can now purchase tickets (bit.ly/42GUeav) for the Dubai FinTech Summit, with special prices available till 30th April 2023. For more information about Dubai Fintech Summit or to register for the event, please visit the official website at www.dubaifintechsummit.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. 

About Crypto Oasis

The Crypto Oasis is a MENA focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for its growth are Talent, Capital, and Infrastructure. The Ecosystems stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers and Government Entities & Associations. Crypto Oasis' vision is to be one of the leading Blockchain Ecosystems in the world. Today it is the fastest growing Blockchain Ecosystem in the world, with more than 1,800+ organisations identified in the UAE alone with more than 10,000+ individuals working in the space. www.cryptooasis.ae

About Trescon

Trescon is the world's fastest-growing business-to-business events, training, marketing and consulting company primarily focused on the adoption of sustainability, inclusive leadership and emerging technologies like artificial intelligence, blockchain, metaverse, cloud, fintech, data analytics and cyber security.

Our summits, conferences, and expos create real economic impact by connecting and empowering the key ecosystem of government organizations, regulators, policymakers, private sector companies, solution providers, startups, investors, accelerators, advisors, consultants, associations, academia and more.

Thought leadership, knowledge exchange, brand positioning, business expansion, market penetration, lead generation, finding solutions & services, capital raising, capacity building, training and networking are among the key objectives of our stakeholders.

With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately.
Whether you are an organization or an individual, Trescon has something to offer you.

For further details about the announcement, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com
For further information : please visit – Trescon (www.tresconglobal.com)

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

GMEX Group launches ZERO13 digital carbon credits aggregation ecosystem

Partners with Verdana Eco-Consortium, Alléo Energy and Pay DIRT

LONDON, May 4, 2023 – (ACN Newswire) – GMEX Group Limited (“GMEX”), a leader in digital business and technology solutions for capital, commodities and sustainability markets, announces the launch of ZERO13, a climate fintech.

ZERO13 provides an automated AI and multi-blockchain driven aggregation ecosystem delivering trusted supply, digital issuance, trading, clearing and settlement for a broad range of carbon credits and related ESG real-world assets. ZERO13 digitally interconnects multiple stakeholders, including registries, banks, custodians, asset managers, corporates, buyers and sellers, markets, exchanges, climate tech and fintech firms to help achieve Net Zero.

The Verdana Eco-Consortium is partnering with ZERO13 to provide collective safeguards to address double counting by integrating its dMRV (digital measurement, reporting, verification), registry infrastructure, and connecting to standards bodies for carbon credits, with data sharing into the World Bank sponsored Carbon Action Data Trust (CAD Trust) to provide transparency. Alléo Energy and Pay DIRT are bringing fuel replacement and nature-based carbon credits into ZERO13, giving them the end-to-end digital provenance to address green washing, as well as enhanced distribution.

The Taskforce on Scaling Voluntary Carbon Markets (TSVCM) estimates that demand for carbon credits could increase by a factor of 15+ by 2030 and up to 100 by 2050. Recent independent research shows that the global carbon credit market traded value was US$978.56 billion in 2022. The market is expected to reach US$2.68 trillion by 2028, at a CAGR of 18.23% during 2023-2028. Carbon credits are a high priority for corporations and institutions yet are beset by problems, impacting:

  • Trust: fraudulent carbon credits, double counting and green washing
  • Efficiency: lack of price transparency, vertical silos and market fragmentation
  • Distribution: lack of digital registry enablement and too many intermediaries

At this time there is no cohesive global carbon ecosystem, as the market is fragmented with multiple silos. Registries have manual supply and are mostly isolated, as are carbon exchanges and over the counter trading, and there is very little peer-to-peer connectivity within the market. This missing link prevents market growth and development.

Hirander Misra, CEO of ZERO13 and GMEX Group commented, “ZERO13 provides a desperately needed, interconnected global carbon ecosystem for all types of participants, in a regulatory compliant manner, to more efficiently match supply with demand.” He added, “It’s a privilege to collaborate with Verdana’s Eco-Consortium to digitally address the end-to-end issues in voluntary carbon markets and to unlock carbon credits supply from partners such as Pay DIRT and Alléo Energy, bringing trust by demonstrating full digital provenance.”

Asad Sultan, CEO of Verdana and Co-Founder of Eco-Consortium, commented “To ensure greater credibility with institutional and corporate market participants, the supply of all types of carbon credits should be transparently verifiable and then securely tradeable in regulated markets.” He added, “Our partnership with ZERO13 aims to make carbon credits and related ESG markets more trusted and efficient using a digitally integrated approach.”

Bob Waun, Principle of Pay DIRT, LLC commented, “Proven advances in economics and efficacy of biochar in reducing water need and fertilizer inputs will increase ROI on crop land investment.” He added, “By utilizing these methods and harnessing the technological capabilities of our partner ZERO13 to generate and distribute a trusted supply of digital biochar carbon credits, we will both benefit our business and have a positive impact on the environment, food nutritional value and economy of American farm communities.”

Tim Adkins, Managing Partner of Alléo Energy, LLC commented, “We are excited to announce our partnership with ZERO13, which is a game changer from a sustainability perspective, as we are able to generate carbon credits from our production of a truly sustainable fuel product at, or below, the cost of a comparable fossil fuel, and optimise their distribution into the market digitally.” He added, “This and our production and supply of biochar and its application to the agricultural land banks of Pay DIRT, LLC optimizes the generation of carbon credits, with provenance that buyers can trust to avoid green washing.”

About GMEX Group Limited

GMEX Group (GMEX) offers sustainable digital solutions for the new age of global markets. The firm is a leading global provider of multi-asset exchange trading and post-trade software/software as-a-Service (SaaS) market infrastructure solutions and ‘network of networks’ digital platform services. GMEX addresses end-to-end regulatory and contract environment needs for issuance, trading, clearing and settlement across exchanges and across multiple asset classes including traditional, digital and hybrid assets, as well as digital carbon credits and ESG real-world assets.

It is the ‘Winner of:

  • ‘Best Development in Fintech of the Year’ – 2022
  • ‘Best Global Hybrid Finance FinTech Company’ – 2022
  • ‘Best Solution for Trading Digital Assets’ – 2023
  • ‘Most Influential Financial Technology Firms of 2023′ – 2023

For further information on GMEX, please visit https://www.gmex-group.com/.

About ZERO13

ZERO13, a venture by GMEX, is an automated AI and blockchain-driven international carbon exchange, registry and aggregation hub ecosystem. The ZERO13 Hub provides a Platform-as-a-service, which offers a distributed point of entry for digital issuance, trading and settlement of carbon credits and real-world assets such as ESG securities. ZERO13 Hub connects multiple international carbon exchanges, registries, custodians and ESG project owners globally for supply verification, transparent pricing and real-time settlement using APIs and across blockchains enabled by ZERO13 Chain (‘Pyctor’).

For further information on ZERO13, please visit https://www.zero13.net/.

About Verdana

The Verdana Platform is a cloud-native SaaS system, with a dMRV engine that sits as a node on Blockchain to extend the Blockchain’s immutability to remote emission reduction projects. The platform is operational and currently used to gather power consumption and carbon footprint data from dispersed commercial facilities across AsiaPac. It is scalable, secure, built on open-source modules, and accessible to authorized parties over their smart devices. While the carbon footprint management business is expected to grow to $12B by 2025, Verdana’s Blockchained SaaS Platform is uniquely different from others by providing immutable, end-to-end automation that restores credibility to the carbon trade.

For further information on Verdana, please visit https://www.verdana.io/.

About Verdana Eco-Consortium

Eco-Consortium is Verdana’s majority owned subsidiary that integrates Verdana’s Measurement, Reporting, Verification (dMRV) engine with the equity partner Eco-Registry’s GHG Accounting Blockchain to provide digital infrastructure for national and voluntary sector registries, to support sovereign commitments in reducing Green House Gas (GHG) emissions. Eco-Consortium currently hosts the carbon standards registry, CerCarbono. Additionally Eco-Consortium connects to the World Bank sponsored Carbon Action Data Trust (CAD Trust) that provides a metadata layer to connected entities. This helps Eco-Consortium tag carbon credits as compliant with Article 6.2 of the Paris Rule Book, i.e., prevent double counting of lowered GHG emissions.

About Pay DIRT, LLC

Pay DIRT, LLC (“Pay DIRT”), is a private company focused on high impact investing in agricultural land. It partners with local farmers and organizations to keep the positive economic impacts of their investments in these American communities by focusing on building up the soil health, first, instead of the traditional seasonal crop yield thesis of farmland valuation. The USDA states that “adding biochar to soil has been shown to reduce water use by up to 40% while increasing crop yields.” Facts support Pay DIRT’s initiative to purchase tens of thousands of acres of near-degraded US farmland to implement innovative soil health improvement strategies.

For further information on Pay DIRT, please visit https://www.dirtinvest.com/

About Alléo Energy, LLC

Alléo Energy, LLC (“Alléo Energy”) is a renewable energy and renewable commodities company with a mission to revolutionize the renewable liquid fuel industry by converting wood-waste into 100% renewable high value commodities. This state-of-the-art process turns locally sourced excess cellulosic waste (e.g., wood chips, etc.) into energy resources and high value commodities that can be refined into multiple energy products as well as natural (and carbon negative) soil, and crop yield ameliorants.

For further information on Alléo Energy, please visit https://www.alleoenergy.com/

MEDIA CONTACTS:
ZERO13 and GMEX Group
Melanie Budden
The Realization Group
Tel: +44 (0)7974 937 970
Melanie.budden@therealizationgroup.com
pr@gmex-group.com



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

PreIPO.com Unveils Cutting-Edge Fintech Tools at Pro Panama’s Inaugural Sustainable Investment Summit

Panama City, Republic of Panama, May 2, 2023 – (ACN Newswire) – Leading global fintech brand PreIPO has successfully participated in the First Sustainable Investment Forum of Panama, organized by PROPANAMA and held earlier this month at the Panama Convention Center in Amador, which is the biggest convention center in Central America. The disruptive private equity platform joined the event to demonstrate its innovative approach to optimizing distribution, maximizing liquidity, and democratizing the capital formation process for issuers, intermediaries, and investors.

"We are excited to explore the investment opportunities in Panama's thriving economy and contribute to its sustainable development through our innovative fintech solutions," said Harold Alvarez, Chief Syndicate Officer PreIPO.com.

The Panama Sustainable Investment Forum is a prestigious event that brings together international investors and businesses interested in exploring the sustainable investment opportunities offered by Panama's dynamic and growing economy. The event highlights Panama's unique advantages, including incomparable connectivity, a safe environment, and the benefits of various special regimes for foreign investment. Participants are introduced to the competitive, business-friendly, and transparent tax, labor, and migration legal tools available in the country.

PreIPO showcased its cutting-edge fintech solutions at the forum, highlighting the transformative potential of its platform for sustainable investments in Panama. By offering an accessible and efficient capital formation process, PreIPO aims to support the growth of sustainable businesses and contribute to the long-term economic development of the country.

"Participating in PROPANAMA's Sustainable Investment Forum has been a remarkable experience for PreIPO," said Harold Alvarez, Chief Syndication Officer at PreIPO. "We are excited to explore the investment opportunities in Panama's thriving economy and contribute to its sustainable development through our innovative fintech solutions." PreIPO.com's presence at the Panama Sustainable Investment Forum reinforces its commitment to promoting sustainable investments and fostering economic growth in emerging markets. The company's platform aims to empower businesses and investors worldwide, driving positive social and environmental impacts through smart and responsible investments.

About PreIPO.com

The event took place on the cusp of PreIPO launching its $128M Series A Round to scale globally in a rapid manner. Currently, PreIPO.com currently features over $1B in deal flow Available in the Deal Room (www.preipo.com/deal-room-preipo). PreIPO is an innovative global fintech brand that has revolutionized the private equity industry with its disruptive platform. The company's unique approach optimizes distribution, maximizes liquidity, and democratizes the capital formation process for issuers, intermediaries, and investors. PreIPO is dedicated to empowering businesses and investors with efficient, transparent, and accessible solutions that drive sustainable growth and create lasting value.

To Learn More about how you can participate in the PreIPO Ecosystem, please visit www.preipo.com or contact info@preipo.com.

Harold Alvarez
PreIPO
+1 888-863-1582
info@preipo.com

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

PreIPO Chosen to raise $250M for SPiCE Fund II, shortly after SPiCE Fund I named leading VC fund of 2022 in Blockchain Ecosystem

BOCA RATON, Fla., Apr 28, 2023 – (ACN Newswire) – PreIPO, a leading provider of innovative financial technology solutions, is pleased to announce a new partnership with SPiCE VC. This partnership will enable PreIPO to further expand its offerings and bring cutting-edge financial technology to a broader market. SPiCE Fund I has yielded a market leading 50.7% IRR and we are pleased to announce the offering of SPiCE Fund II. SPiCE VC has been deemed the best Venture Capital Fund of 2022 in the blockchain and tokenization ecosystem.

Through this partnership, SPiCE Fund II will be featured on the PreIPO Platform, with a robust data room including key due diligence documents and marketing materials. Marking the first of many funds to be fully available for investment within the PreIPO ecosystem. This also includes access to PreIPO's network of industry experts, investors, and potential partners, as well as its experience in helping companies scale and succeed.

"We are thrilled to be partnering with PreIPO," said Rene Eichenberger, Partner of SPiCE VC. "Their expertise and support will be invaluable as we continue to develop and bring our innovative funds to the market."

PreIPO is a leader in the Pre-IPO market of the fintech industry, offering a range of products and services designed to improve capital formation processes and make them more efficient and accessible. This includes solutions for subscription documents, SPVs, data room consolidation, and much more. Check out our website and platform here (www.preipo.com).

"PreIPO has a strong team delivering innovative financial technology solutions," said Rob Roy Roedel, Partner at SPiCE VC. "We are excited to be partnering with them and supporting their growth as they continue to drive the fintech industry forward."

This partnership represents a significant step forward for PreIPO and will help the company continue to push the boundaries of what is possible in the world of financial technology. We look forward to the exciting developments and growth that this partnership will bring.

If you would like to find out more information about investing in SPiCE Fund II via PreIPO's proprietary platform visit the data room now (https://docsend.com/view/s/uxw5gii6k4pgrqs5) or please feel free to reach out to invest@preipo.com.

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

VNBA joined hands with Tradepass to orchestrate Vietnam’s most disruptive fintech show

HANOI, Vietnam, Apr 25, 2023 – (ACN Newswire) – With a projected value of $18 billion by 2024, the country's fintech market is at an all-time high. While acknowledging the shift in consumer behavior, Vietnam has welcomed myriad fintech advances in its financial ecosystem. Digital payments, peer-to-peer (P2P) lending, cryptocurrencies, blockchain-based solutions, investment tech, point of sales and a host of other streams have proliferated in the recent years.



While World Financial Innovation Series (WFIS), organised by Tradepass, has always been at the heart of exposing these fast-evolving markets wherein also facilitating numerous organisations to capitalize on the same, this time the platform made its entry to Hanoi on 4-5 April 2023 at Intercontinental Hanoi Landmark72.

The event had a one-of-a-kind start and received phenomenal attention from numerous media houses as it was jointly opened through a ribbon cutting ceremony, that was graced by the top officials from Vietnam Banks Association (VNBA), State Bank of Vietnam, World Bank, Bank for Investment and Development of Vietnam JSC and Tradepass.

Vietnam Banks Association and Digital Pilipinas were the supporting partners for the event and garnered massive recognition for the platform in the country and also the entire region that's Southeast Asia.

Acting as the bridge between members and state agencies for the further development of credit institutions has always been VNBA's top priority and WFIS emerged as a very crucial step in supporting VNBA's vision as it brought together the country's leading Banks, Insurance and Micro-Finance Institutions under one roof.

Talking about the importance of the event, Dr Nguyen Quoc Hung (Secretary General, Vietnam Banks Association) expressed, "The event is meaningful and useful for all financial organisations, Banks in Vietnam can access knowledge from around the world through shared experiences that will aid banks in having a more comprehensive identity and will fully prepare them in finding solutions for digital transformation in the fastest and most effective way."

Ketut Ariadi Kusuma (Senior Financial Sector Specialist, World Bank) one of the key speakers at WFIS 2023 – Vietnam, shared his views about the event, "WFIS is a very interesting event. I can see a lot of attention from the industry players and policy makers."

The two-day event showcased what's currently driving Vietnam's FSI through multiple knowledge sharing sessions that were powered by the industry's most renowned thought leaders. It also shed light on the latest, most trending developments that are shaping to be the areas attracting maximum investor focus.

The Deputy Director of Information Technology Department from the State Bank of Vietnam, Doan Thanh Hai expressed why the event was a great platform for the financial services industry, "This year's conference paved a great opportunity for us to discuss the most exciting technology application development issues in the banking & financial sector such as cloud computing of centralized digital currency, artificial intelligence and blockchain."

The entire venue was swamped with 500+ top FSI professionals who showed a very keen interest at the Exhibition Hall that was decked with a very impressive line-up of technology providers and related cutting-edge fintech products. The line-up included Nucleus Software, Perfios Software Solution, MoEngage, Clayfin, OutSystems, Xebia, Genesys, NGS Telecommunication and Equipment Joint Stock Company, Alibaba Cloud, FPT Telecom International, iProov, AppSealing, SmartNet Technology Co., Ltd., MineSec, Contour, Parasoft and VietNet Distribution Joint Stock Company (VietNet Distribution JSC.).

Saurabh Madan (GM & VP – SEA, ANZ & Japan, MoEngage) gave his take on the quality of delegates at the event, he said, "Vey high quality of delegates to start off with, you had some strong movers and shakers from the Vietnam market on stage and a lot of people from the audience also are from different banks, so well done on the quality of delegates."

The curation of topics for the conference was completely on point and paved the future road map for the country's FSI. Some of the topics from the conference included, 'Revolutionizing of Digital Lending', 'Big Data in Banking', 'Streamlining Legacy System in Banking', 'Unlocking the Speed and Innovation of Cloud in the Digital Transformation Journey' and 'Digital Transformation in Insurance'.

Nucleus Software's Head of Global Marketing, Ashish Khanna expressed his enthusiasm for WFIS, "It is a great platform for us to connect with industry peers as well as with different banks and financial institutions and it's an opportunity to share our global experience of managing more than $500 billion worth of retail assets and corporate assets. So, it is a great event and we are privileged to be here."

Kalidas Ghose (Chief Executive Officer, VPBank SMBC Finance Company Limited (FE Credit)) during his session gave an amazing insight about how his organisation tried to simplify digital banking, he said, "We actually went into customer's life to find out how a digital bank can be embedded in his life rather than us trying to prompt him to use digital banking."

Some of the key speakers from the event included: DR NGUYEN QUOC HUNG, Secretary General, Vietnam Banks Association; KETUT ARIADI KUSUMA, Senior Financial Sector Specialist, World Bank; PHAM THI NGUYET NGA, Deputy CEO, Chief Data Scientist, TNEX; JOHNSON POH, Chief Data Officer, VPBank; DOAN THANH HAI, Deputy Director of Information Technology Department, SBV; DR LUC CAN, Chief Economist, Bank for Investment and Development of Vietnam JSC; NGUYEN MANH KHANG, Deputy CEO, CIO, Mcredit; KANISHK UPADHYAY, Executive Vice President, Techcombank; KALIDAS GHOSE, Chief Executive Officer, VPBank SMBC Finance Company Limited (FE Credit); MICHAL SKALICKY, Chief Customer Officer, Home Credit Vietnam.

For more information about the event, log on to: https://vietnam.worldfis.com/

About Tradepass

Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.

As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

Media contact:
Shrinkhal Sharad
PR & Communication Lead
shrinkhals@tradepassglobal.com
+ (91) 80 6166 4401
Tradepass

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

Blockpass heralds Consensus 2023 with the most affordable, built-for-crypto ZK KYC

HONG KONG, Apr 25, 2023 – (ACN Newswire) – Blockpass is excited to reveal that it is sponsoring and attending the Consensus event in Austin, Texas this week, from the 26th to the 28th of April. One of Blockpass' founders, Hans Lombardo, will be available to meet prospective customers and investors as well as press representatives at the event. In addition, Blockpass is offering a temporary discount on its services, with its subscription plans at 50% off their monthly minimum and accompanied by a free 7-day trial. To claim this discount, customers need to register via https://www.blockpass.org/eventform/ by the expiration date of June 1st, 2023!


Since 2015, Consensus has been a major feature in the blockchain and crypto calendar, with vast swathes of the community gathering to collaborate, discuss and create all manner of Web3 ideas and solutions. Organized by CoinDesk, the event provides an amazing opportunity for those involved by hosting a platform for blockchain and crypto businesses and revolutionary thinkers to meet with the community through talks and panels. This year, the event will also feature private workshops for interested parties to meet and work on key crypto challenges which CoinDesk will publish afterwards in a report.

Since the collapse of FTX and similar disasters faced by other crypto platforms, the regulation hammer is coming down hard on the crypto ecosystem. There is a fundamental lack of compliance opportunities for blockchain solutions and DeFi platforms leading to fraud and other illicit activity, which hurts the space both directly and through its perception by others. One of the first waves of measures being seen is the implementation of the Crypto Travel Rule regulations to enforce KYC and AML standards on crypto.

Blockpass is a digital identity verification provider with a bank-grade KYC/AML SaaS which enables Crypto and Web3 businesses to meet regulatory requirements and ensure the uniqueness of their users. With compliant solutions controlled by the users, it's not hard to see why the decentralized identity system which enables onboarding to all of the crypto-space (including DeFi and NFTs) has nearly a thousand verified business profiles (KYB), around one million verified user profiles (KYC), nearly a thousand business customers, and profile resharing of more than 25%.

With a multitude of crypto wallets supported, customers of Blockpass can access our zero-knowledge service with On-Chain KYC(R), crypto-address ownership checks, Unhosted Wallet KYC(TM) and a compliant DeFi identity layer with Know-Your-Human liveness and zero-knowledge sharing of identity aspects. All these benefits go some way to explaining why Blockpass has been chosen as the exclusive KYC provider of companies and platforms such as Gamee.com, National Geographic, Delta Exchange, Animoca Brands, Yugalabs, Chromaway, Next Earth, Enjinstarter, Boson Protocol, Polkadex, Meta Soccer, Crazy Defense Heroes, Revv Racing, Pangolin, Kyber Network, Axia Capital Bank, Defied Bank, Seedify, Silk Legal, and many others.

"I'm very excited to have the chance to meet so many fellow crypto enthusiasts and revolutionary blockchain thinkers when we converge on Consensus," said Hans Lombardo, Blockpass President/Co-Founder. "It's been a busy year for us at Blockpass but we're eager to bring affordable, watertight regulatory compliance to the entire industry as regulators around the world ensure this incredible space is safe for all legitimate entities to enjoy."

Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience and meet regulatory compliance globally. 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.

About Blockpass

Blockpass is a leader in Web3 regulatory compliance solutions, providing a diversified range of services to bring trust and security to the identification process in Web3. These services include KYC & AML for all of Web3 (DeFi, NFTs, exchanges & blockchains), Travel Rule provision for regulated VASPs, and blockchain forensics. With a decentralized network of around one million crypto enthusiasts and one thousand business customers, Blockpass offers the fastest and most affordable KYC & AML screening in the Crypto sector. Additionally, Blockpass is the first provider of a "Crypto Travel Rule" solution for unhosted wallets, which certifies the ownership and control of non-custodial wallets.

Demonstrating its commitment to data security and operational efficiency, Blockpass in March 2023 achieved the rigorous ISO 27001 certification from the British Assessment Bureau, the most coveted informational management security system in the world. In addition, Blockpass also attained the highest level of the UK Government's Cyber Essentials program in 2022 and was invited to participate in Cohort 7 of the UK Financial Conduct Authority's sandbox in 2021. Blockpass also introduced its On-Chain KYC(R) solution in the same year, a pioneering on-chain KYC solution that enables customers to conduct zero-knowledge verification of users and adhere to compliance standards without seeing the underlying data. Animoca Brands and Yuga Labs utilized this solution in early 2022 to onboard over 150,000 users in the $320 million Otherside NFT sale – the largest in Crypto sector history.

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

Society Pass Inc. (Nasdaq: SOPA)’s Travel Platform, NusaTrip, Acquires Vietnam’s VLeisure, Marks its First Acquisition Outside of Indonesia

JAKARTA, Apr 13, 2023 – (ACN Newswire) – NusaTrip ("NusaTrip"), a leading Jakarta-based, IATA-licensed Online Travel Agency ("OTA") and the travel vertical of Society Pass Inc (Nasdaq: SOPA), Southeast Asia's (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the acquisition of VLeisure, a Ho Chi Minh City, Vietnam-based online B2B hotel platform servicing small-to-medium size hotels in Vietnam and empowering online and offline travel agencies to manage and distribute travel products and services. The VLeisure acquisition extends NusaTrip's base of operations and geographical reach outside of Indonesia for the first time. Going forward, NusaTrip will continue to acquire online and offline travel agencies in SEA as it builds a regional travel platform servicing the booming SEA travel market.



The VLeisure acquisition comes at an opportune time for NusaTrip with the dramatic rebound in the SEA travel market from the depths of the Covid pandemic. The marked increase in demand is driven by strong government initiatives to boost tourism, the rise of SEA's burgeoning middle class and strong internet penetration, which enables more Southeast Asians to more easily book flights and hotels through OTAs. According to Web In Travel, gross bookings in 2025 will reach 94% of the record 2019 levels. And according to the Vietnam National Administration of Tourism, the tourism sector expects to welcome 110 million tourist arrivals in 2023, valued at US$27 billion, representing 5.7% of Vietnam's projected 2023 GDP of US$469 billion.

Leveraging on SoPa's capital and NusaTrip's technology, VLeisure will market its hotel management SaaS products to small-to-medium size hotels initially in Vietnam and then to the rest of SEA. In addition, NusaTrip now acquires an operational foothold to significantly expand its B2C and B2B businesses in Vietnam. Phan Le, VLeisure Founder and Managing Director, comments, "I am honoured to join the SoPa ecosystem and Nusatrip. With SoPa's rapid growth in 2021 and 2022 and NusaTrip's position as a leading IATA-licensed travel platform in Indonesia, VLeisure now is able to access our parent companies' infrastructure of capital, technology, marketing, and customer support, allowing VLeisure to better serve our Vietnam-based customers and accelerate growth in our hotel business. VLeisure's trip planning, booking capabilities, hotel technology expertise complements Nusatrip's existing travel services to deliver a more personalised user experience. Furthermore, as a Vietnamese, I am proud to join the first Vietnam-based company to be listed on Nasdaq. SoPa's Nasdaq IPO in November 2021 is truly an historical event for Vietnam's economy and an inspiration for all Vietnamese entrepreneurs."

Founded in 2011 as a Ho Chi Minh City, Vietnam-based online marketplace for hotels, airlines, and travel agencies, VLeisure empowers Vietnamese, regional and international OTAs by distributing their travel products. Travel agents access to VLeisure's extensive inventory of over 650,000 registered hotels. It is also a hotel technology platform servicing small-to-medium size hotels with customer booking and revenue collection software solutions.

Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer and NusaTrip Chairman, expounds, "We happily welcome VLeisure into our ever-expanding NusaTrip ecosystem. VLeisure seamlessly blends into our user and merchant growth strategy. We combine NusaTrip's robust flight B2B technology and B2C operational breadth with VLeisure extensive hotel management software solutions. With Phan's significant experience and knowledge of the Vietnamese travel sector, I appoint him as the Managing Director of Nusatrip Vietnam. As Head of our Hotel Business, his expertise in hotel technology allows him to create unique travel goods and services that meet the demands of Vietnamese travellers."

Mr. Nguyen further explains, "As a Vietnamese, I am especially proud to continue to finance and support Vietnam's start-up sector with this VLeisure acquisition. I believe that our Vietnamese entrepreneurs will continue to be an example for the rest of SEA. We look no further than the example of Phan Le."

About VLeisure

Founded in 2011 as a Ho Chi Minh City, Vietnam-based online marketplace for hotels, airlines, and travel agencies, VLeisure is a hotel technology platform servicing small-to-medium size hotels with customer booking and revenue collection software solutions. In addition, travel agents access to the company's extensive inventory of over 650,000 registered hotels. VLeisure is now an integral member of NusaTrip. For more information, please visit: https://www.vleisure.com.

About NusaTrip

Founded in 2013, NusaTrip is a Jakarta, Indonesia-based, IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing 24/7 customer-centric support team-as-a-service. With its first mover advantage, NusaTrip has onboarded +1.2 million registered users, +500 airlines and +200,000 hotels around the world as well as connected with over 80 million unique visitors. NusaTrip is now an integral member of Society Pass (Nasdaq: SoPa) ecosystem. For more information, please visit: https://www.nusatrip.com.

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, a Vietnam-based hotel technology platform; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
Rosa Milyarna – NusaTrip
rosa@nusatrip.com

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

FinTechs and banks unite for innovation at DIFC’s Dubai FinTech Summit Dialogues

DIFC-led dialogue hosts ten heads of banks and FinTechs for discussion on current financial stability and outlook

DUBAI, Apr 11, 2023 – (ACN Newswire) – Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region hosted the second Dubai FinTech Summit (DFS) Dialogues this week, powered by the Innovation Hub. Heads of 10 leading regional banks and FinTechs were invited to unpack the challenges facing the financial sector and deliberate on how the industry can de-risk and build resilient, sustainable financial institutions.

According to recent research by Report Ocean, the global FinTech Lending Market was valued at approximately USD573.05 bn in 2021 and is anticipated to grow with a healthy growth rate of more than 27.4% over the forecast period 2022-2029.

Hosting the roundtable, Mohammad AlBlooshi, Head of DIFC Innovation Hub and FinTech Hive, said, “As an industry predicated on confidence and trust, we are currently seeing the banking sector experience a time of disruption. Given global headwinds, we have an opportunity to build more resilient institutions through collaboration between banks and FinTechs.”

Commenting on the session he added, “Through conveners such as this roundtable and the first-ever Dubai FinTech Summit in May, we are facilitating dialogue and avenues of collaboration for long-standing financial institutions, regulators, and promising entrepreneurs to together map out how the sector can – and should – move forward.”

The age of Banks vs. FinTechs is behind us

The FinTech sector, widely recognised as a major competitor to banks, is expected to double in size from USD135.9 bn in 2021 to USD266.9 bn in 2027, according to DIFC FinTech Hive’s 2022 FinTech Report. Additionally, with approximately 50 per cent of the MENA region currently unbanked or underbanked, FinTechs have been playing a crucial role in promoting inclusive economic growth in the region.

However, a unanimous takeaway from all banks at the DFS Dialogue captured how both entities are in fact symbiotic.

Sanjay Sethi, Senior Managing Director, Head of Global Transaction Banking at First Abu Dhabi Bank, said, “This is an age of collaboration and co-creation where leading financial institutions and pioneering FinTechs can embark on a journey of innovative discovery together. This is especially true when we look at opportunities to expand into new geographies, improve product capabilities, grow revenues, or scale or optimise our business faster and more efficiently. Alongside this, FinTech solutions in transaction banking are growing in agility every day. As we look to the future, FAB will continue collaborating with pioneering FinTechs to deliver impactful advances across the financial industry.”

Earlier this year, the UAE Central Bank announced the implementation of its Digital Dirham digital currency strategy, which promises to be a critical step in the country’s payments industry, something that will deeply impact banks, FinTechs, businesses, and customers. “As such, the synergy between banks and FinTechs proves to be unavoidable as the industry inches towards a cashless economy,” added AlBlooshi.

Technology: Disrupting and enhancing trust

“As a FinTech services provider, the core, as with any tech player is to build an emotional connection with the end consumer,” said Raman Thiagarajan, CEO and Founder, Zenda.

As customers turn to technology, banks have been forced to adapt traditional trust-building to complement the digitisation of banking. Anand Krishnan, Head of Technology, Emirates Investment Bank, said, “It is increasingly important banks continue to invest more in technology that not only builds but maintains trust in customers across their entire journey.”

Google predicts that the financial services and banking industry will emerge as the primary spender for AI technology in the MENA. The industry will make up nearly 25 per cent of all AI investments in the region, with banking tech alone expected to contribute 13.6 per cent to the region’s gross domestic product by 2030.

Mehdi Tazi, Chief Operating Officer, Lean Technologies, stated, “I believe customers still trust banks more than FinTechs – they are larger more established institutions. However, something FinTechs do very well is streamlining processes when helping onboard customers into these larger banks. As a result, we are seeing a marriage between FinTech and banking that enhances the customer’s journey, ultimately building trust.”

The onset of Web 3.0 ushers in a transformative moment for financial services, capital markets and banking, shifting customer expectations and revolutionising the sector. The total transaction value of embedded finance is said to reach USD7 tn in 2026, as per Rakesh Reddy, CEO, Cloud4u, “This is particularly useful for Platform as a Service (PaaS) providers who will strongly benefit from this growth, undeniably becoming a key industry disruptor.”

Nilay Singh, Chief Executive Officer, State Bank of India, DIFC, pointed out, “We cannot ignore AI. It has to be adopted but cleverly and effectively, and this is where we need to understand what to outsource and when to collaborate.”

Dubai is gearing up for continued growth and innovation, so how can policymakers, entrepreneurs and investors come together to further advance during these volatile times? With a unified goal to enhance inclusive, stable banking solutions for the region, traditional financial establishments are increasingly optimistic in growing their partnerships with promising FinTechs to help bridge gaps and strategically stay ahead of the curve. Join the dialogue at the Dubai FinTech Summit at Madinat Jumeirah in Dubai. Visitors can now purchase tickets with early bird prices available until 15 April 2023.

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

For further details about the announcement, please contact:
Nupur Aswani
Head, Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com



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

Maxim: Society Pass (Nasdaq: SOPA) Compelling Valuation; 4Q22 EBITDA Beats Forecast; Positive on Organic Growth & M&A

SINGAPORE, Apr 5, 2023 – (ACN Newswire) – Maxim Group LLC ("Maxim") issues research report on Society Pass Inc. (Nasdaq: SOPA) ("SoPa"), Southeast Asia's (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.

Click Here ( https://tinyurl.com/3cakppp on Maxim research website) or Here ( https://tinyurl.com/5fh5vnyr on Society Pass website) to view the full Maxim research report.

Summary Points:

– 4Q22 results highlight early stages of growth – SoPa's 4Q22 revenue of $2.6M increased significantly from $0.4M in the prior year quarter. Thoughtful Media (TMG) accounted for over 50% of quarterly revenue at $1.4M, followed by Leflair at $0.7M and NusaTrip online ticketing and reservation at $0.5M. SoPa has restructured several of its businesses to improve revenue and profitability and is focusing on the relatively higher margin segments.

– Metrics – SoPa ended '22 with over 3.3M registered customers and 205K merchants and brands. During 2022, there were over 48K lifestyle purchases, 88K F&B deliveries and 178K travel bookings.

– Diversification – 2022 represented a period of significant diversification with SoPa now operating 6 verticals in 5 countries (Singapore, Vietnam, Philippines, Indonesia, and Thailand). Maxim believes TMG can market SoPa's other brands and the businesses can be expanded geographically. Maxim has a positive view on the SEA market due to increasing mobile and ecommerce penetration, younger populations, travel coming back, and the opportunity to consolidate smaller companies.

– Outlook – Maxim narrows its EBITDA loss estimate for 2023, primarily due to factoring in better expense control. Maxim expects loyalty points to launch in June '23, and full year contributions from all announced acquisitions. Maxim has not modeled any contributions from any acquisitions that have not yet been announced or closed, however, it is likely that management will continue to opportunistically acquire companies in their verticals of focus.

– Healthy balance sheet – SoPa ended 2022 with unrestricted cash of $18.9M (representing >1/2 of SoPa's market cap), down from $23M at the of end of September '22, and no material amount of debt. In February '23, SoPa authorised a $2M stock repurchase program. With expense reduction plans and newer businesses, along with the launch of the Loyalty program, Maxim expects the cash burn to decline and that current levels of cash are sufficient to fund organic growth over the next two years.

– Society Pass is in the early stages of building an SEA e-commerce company with six verticals:

1) Lifestyle. Leflair provides luxury goods online in Vietnam. Leflair generated ~$2M in revenue in '22, up from $500K in '21. Sales from online ordering was $0.7M in 4Q22, up 73% y/y. Maxim anticipates management will focus on expanding geographically and in other retail categories in 2023. Leflair changed its platform in February 2023 to improve customer experience and drive sales.

2) Digital Advertising. Thoughtful Media Group is a Thailand based social media company acquired in July '22. Business has been expanded to Vietnam, Indonesia, and Thailand. Digital advertising should have relatively higher margins among SOPA's other segments, in part due to lower labour costs. In October '22, TMG signed a partnership with Onlive.site, a live-streaming and digital content channel platform based in Spain. Onlive's technology allows livestreaming, live video shopping, interactive video and online TV channel platform tools. The company announced the acquisition of More Media, an Indonesia based digital design and branding agency. Revenue in this segment was $1.4M for 4Q22 and $2.6M for the full year. Maxim notes that this only includes one half of results as the deal closed in 3Q22.

3) Online Travel. NusaTrip is an Indonesia based online travel platform acquired in August '22. Maxim views Online Travel as one of the areas of key focus for growth both organically and through M&A. In February '23, a partnership was announced with LuxUrban (LUXH – Buy) to drive SE Asian traffic to LuxUrban's US based hotels. NusaTrip signed an MoU with PT Kerata Cepat Indonesia-China to be the preferred online ticket sales partner for Kereta Cepat Jakarta-Bandung, the first fast train service between Jakarta and Bandung. Revenue was $0.5M for the quarter and $0.7M for the year.

4) Telecom. Acquired June '22, Gorilla is a Singapore based blockchain telecom offering local and travel e-SIM services. Although a small revenue contributor, it provides blockchain and Web 3.0 technology that can be expanded to other areas, such as social media interactions on websites.

5) Online Food and beverage delivery. Handycart (Vietnam), Pushkart (Philippines), and Mangan (Philippines). F&B is small contributor today but is strategic in terms of users that can be monetized in other verticals. For '23, Maxim anticipates management will focus on combining their offerings.

6) Loyalty. Loyalty plan was soft launched in June '22 with a hard launch across all verticals targeted for June '23. Stripe, a digital wallet, is a partner for payments. While adoption is not certain, Maxim expect Loyalty to be the higher margin of SOPA's verticals.

– Compelling valuation – reiterate Buy. SOPA trades at an EV/revenue multiple of 0.4x our 2024 revenue estimate with over half of its market cap in cash vs. the peer average of 2.8x. Maxim's price target is $2.75 supported by our 10-year DCF analysis, which utilizes a 22% discount rate (unchanged), 13x terminal multiple (prior 15x), and 3% terminal growth rate (unchanged). This equates to an EV/revenue multiple of 2.0x. A discount to the peer average is warranted, in our view due to SOPA's smaller size and acquisition integration risk. Our positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies.

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

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

Society Pass’ (Nasdaq: SOPA) Thoughtful Media Group Launches The Creator Economy in the Indonesian Market

JAKARTA, Apr 4, 2023 – (ACN Newswire) – Society Pass Inc (Nasdaq: SOPA), Southeast Asia (SEA)'s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, announces the official launch of its digital advertising platform, Thoughtful Media Group Inc (TMG), in the Indonesian market. TMG will introduce its new Indonesia management team and business model at a media presentation in Jakarta on 05 April 2023.

Established in 2021 as an international caliber design and branding agency serving innovative Indonesian companies in the beauty, F&B, e-commerce, and logistics sectors and acquired by TMG in December 2022, More Media has been integrated into Thoughtful Media Group Indonesia (TMGI) connecting content creators and brands in the world's fourth most populous country. By rapidly deploying value-added services, possessing an intimate understanding of local market trends, focusing on the art of storytelling, TMGI has quickly onboarded a diverse list of local clients such as Langsre, Emilia, Kei Dining, and Allino.

Pamela Aw-Yeung, TMG Vice-Chairwoman, states, "We are very pleased to welcome More Media into the TMG ecosystem. By combining TMGI's market-leading design and branding capabilities in Indonesia with TMG's influencer advertising-focused social commerce business model, we leverage our storytelling capabilities for local, regional and international advertisers seeking to market in Indonesia. TMG now operates in Thailand, Vietnam, and Indonesia."

Responsible for driving sales and onboarding Indonesian clients onto TMG's regional digital advertising platform, Ms. Eugenia Agnes Gusti, the Co-Founder of More Media and VP of Business Development of TMGI, comments, "Our local team's unique advantage is that we are led by amazing heroines with significant experience in the fields of branding and media in this country". Ms. Erlinda Gutami, TMGI Indonesia Country Manager, expounds, "With the explosion of influencer advertising and social commerce across SEA, especially in Indonesia, TMGI emphasises the importance of theme of "Connection" for brands and influencers to build loyal audiences/users over time".

TMGI is uniquely positioned to become Indonesia's premier regional digital advertising agency offering a significant value proposition to advertisers, merchants, and influencers in SEA's largest economy. Well positioned to benefit from Indonesia's forecast soaring digital advertising revenues over the next decade as increasingly more consumers make direct purchases on social media platforms, TMGI collaborates with social media platforms, advertisers and influencers to develop the entire creator economy in Indonesia.

About Thoughtful Media Group (TMG)

Founded in 2010, Thoughtful Media Group is a leading digital advertising platform in SEA. Through our network of talented creators across multiple industries in Thailand, Vietnam and Indonesia, we help brands maximise marketing budgets and achieve business objectives through some of the most innovative marketing campaigns in the region.

In 2022, Society Pass (Nasdaq: SOPA), the next generation acquisition-focused fintech and e-commerce ecosystem in SEA, acquired Thoughtful Media Group. Since then, TMG has fully evolved into a digital-first and fully integrated advertising powerhouse.

For more information, please visit:
Website at www.thoughtfulmedia.com
LinkedIn at https://www.linkedin.com/company/thoughtful-media-group-inc or
Instagram at https://www.instagram.com/thoughtfulmedia/ or
Facebook at https://www.facebook.com/thoughtfulmediaasia or
Twitter at https://twitter.com/ThoughtfulMedia.

About Society Pass

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Media Contact:
Ms. Eugenia Agnes Gusti
agnes@thoughtfulmedia.com

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