JCB, IDEMIA and Soft Space launch JCBDC Pilot to test CBDC in-store payments

TOKYO, Oct 24, 2022 – (ACN Newswire) – JCB, the leading international payment brand from Japan, has announced the JCBDC (JCB Digital Currency) Pilot project with IDEMIA, a world leader in identity technologies, and Soft Space, Asia's leading secure payments platform. The JCBDC Pilot will test a Central Bank Digital Currency (CBDC) payment solution, and conduct a demonstration experiment with Tokyo merchants.

Central banks in many countries and regions have been testing CBDCs that could be widely accepted by consumers and merchants. However, merchants might be reluctant to accept them, and mass-market rollout may be held up by people without smartphones, like children and the elderly, who could find the user interfaces and payment systems hugely challenging.

JCB will have CBDC acceptance tested using its existing 'JCB Contactless' infrastructure – EMV-based payment merchants, POS terminals and plastic card-based user interfaces – with guidance from IDEMIA and Soft Space. JCB, IDEMIA and Soft Space will have concluded CBDC system development by late 2022 and will conduct pilot CBDC acceptance with Tokyo merchants through March 2023.

"It gives me great honour to announce our collaboration with IDEMIA and Soft Space on this CBDC acceptance project," said Koremitsu Sannomiya, Board Member and Senior Executive Officer of JCB. "This project proves that we can use existing payment acceptance hardware for new CBDC payment systems, which is a huge benefit for both consumers and merchants."

"We at IDEMIA firmly believe that CBDCs are redefining the very fundamentals of the payment ecosystem. We're proud that our ability to innovate has enabled CBDC payments with existing JCB Contactless cards and POS terminal hardware. Joint payment systems by IDEMIA, JCB and Soft Space will usher in worldwide CBDC growth," said Romain Zanolo, IDEMIA Managing Director, APAC Financial Institutions.

"We're thrilled to be in the world's first trial of CBDC acceptance on SoftPOS, alongside partners JCB and IDEMIA. Although CBDCs are still in their infancy, this pilot takes a forward leap, from theory to reality, by harnessing in-store payment experience and existing payment platform expertise," said Soft Space CEO Joel Tay.

*EMV(R), a registered trademark in the U.S. and other countries, is owned by EMVCo, LLC.

About JCB
JCB, a major global payment brand and leading credit card issuer in Japan, launched its card business in 1961, expanding worldwide in 1981. JCB has formed alliances with hundreds of leading banks and financial institutions, its network includes more than 39 million merchants worldwide, and more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits to providing responsive and quality services and products to all customers worldwide. JCB, uniquely yours, visit www.global.jcb/en/.

About IDEMIA
A leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. Backed by featured R&D, IDEMIA provides unique technologies with long-standing expertise in biometrics, cryptography, data analytics, systems and smart devices. With 15,000 employees, IDEMIA is trusted by over 600 governmental organizations and 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach. For more information, visit www.idemia.com and follow @IDEMIAGroup on Twitter.

About Soft Space
Founded in 2012, Soft Space is the world's leading SoftPOS player, with over 50 financial institutions and partners across 23 global markets adopting its payment solutions. Supported by MDEC's Global Acceleration and Innovative Network (GAIN) programme, Soft Space ranked 66 of 1000 companies in the Financial Times' FT 1000: High Growth Companies in Asia Pacific 2018, and in 2020 was recognized as an IDC Fastest Growing Company. For more information, visit: https://www.softspace.com.my.

JCB Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Nuraqilah Ibrahim
Marketing Associate
Tel: +603 7494 1222
Email: nur.aqilah@softspace.com.my

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JCB, IDEMIA and Soft Space launch JCBDC pilot to test CBDC in-store payments

TOKYO & PARIS & KUALA LUMPUR, Oct 24, 2022 – (ACN Newswire) – Japan's only international payment brand JCB Co., Ltd. ("JCB") has launched "JCBDC" (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and the world's leading fintech company Soft Space Sdn. Bhd. ("Soft Space"). JCBDC pilot will develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot test with Tokyo merchants.

Over the past few years, central banks in many countries and regions have been testing CBDCs that should soon be widely accepted by consumers and merchants. However, merchants might be reluctant to accept them, and mass-market rollout may be held up by people without smartphones, like children and the elderly, who could find the user interfaces and payment systems hugely challenging.

As a result, JCB will have CBDC acceptance tested using existing JCB Contactless – JCB's EMV(R) based contactless payment, merchants, POS terminals and plastic card-based user interfaces, with guidance from IDEMIA and Soft Space.

JCB, IDEMIA and Soft Space will conclude payment system development by late 2022 and conduct the pilot test with Tokyo merchants until March 2023.

"It gives me great honour to announce our collaboration with IDEMIA and Soft Space on this project," said Koremitsu Sannomiya, Board Member, Senior Executive Officer of JCB. "This project proves that we can use existing payment acceptance hardware for new CBDC payment systems, which is a huge benefit for both consumers and merchants."

"We at IDEMIA firmly believe that CBDCs are redefining the very fundamentals of the payment ecosystem. We're proud that our ability to innovate has enabled CBDC payments with existing card and POS terminal hardware. IDEMIA's, JCB's and Soft Space's joint payment system expertise will usher in worldwide CBDC growth," said Romain Zanolo, IDEMIA Managing Director APAC Financial Institutions.

"We're thrilled to be first in the world to trial CBDC acceptance on SoftPOS alongside our partners JCB and IDEMIA. Although CBDCs are still in their infancy, this pilot takes us forward from theory to reality, by harnessing our in-store payment experience and existing payment platform expertise," said Soft Space CEO Joel Tay.

*EMV(R) is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

JCB Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

About IDEMIA

As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. Backed by cutting-edge R&D, IDEMIA provides unique technologies, underpinned by long-standing expertise in biometrics, cryptography, data analytics, systems and smart devices. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organizations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach. For more information, visit www.idemia.com and follow @IDEMIAGroup on Twitter.

About Soft Space

Founded in 2012, Soft Space is the world's leading SoftPOS player headquarters in Kuala Lumpur, Malaysia. Soft Space simplified the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 50 financial institutions and partners across 23 global markets adopting its payment solutions, Soft Space is supported by MDEC's Global Acceleration and Innovative Network (GAIN) programme and received financial support through MIDA's Domestic Investment Strategic Fund in 2022. In 2018, Soft Space ranked 66th out of 1000 companies in Financial Times 'FT 1000: High Growth Companies in Asia Pacific' Special Report. Subsequently in 2020, Soft Space is also recognise as one of IDC's Fastest Growing Company. For more information, please visit: https://www.softspace.com.my

Nuraqilah Ibrahim
Marketing Associate
Tel: +603 7494 1222
Email: nur.aqilah@softspace.com.my

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

1,450+ Organisation Identified in the UAE Web3 Space as per the Crypto Oasis Ecosystem Report 2022

DUBAI, Oct 10, 2022 – (ACN Newswire) – Crypto Oasis, the fastest growing Web3 ecosystem in the world, announced that it had identified more than 1,450 active Web3 organisations in the UAE at the end Q3 2022. The research also identified more than 7,000 individuals working in the industry.

The organisations that are active in the Blockchain space are broken down into native and non-native according to their dependency on this emerging technology. native organisations which only exist because of this technology account for 65 percent of the total number identified and non-native organisations are at 35 percent. Dubai Multi Commodities Centre(DMCC) has registered more than 460 native organisations which is more than 50% of all native Blockchain organisations in Dubai.

Out of the 7,000+ individuals working in the Web3 industry, approximately 77 percent work in Blockchain native organisations and 23 percent work in non-native organisations.

The Crypto Oasis Ecosystem Report is a periodic report which is now on its inaugural edition and was created in partnership with Roland Berger, one of the first top-tier strategy consulting firms to have entered the world of Blockchain and is steering their global Crypto Economy advisory out of the UAE. The Report focuses on market development and emerging technologies such as Crypto, Blockchain, Metaverse and Web3. It establishes the first quantitative and qualitative ecosystem study of the Crypto Oasis Ecosystem and identifies its various stakeholders. It includes, a deepdive into the opportunity that Web3 represents for the region, has exclusive content such as the insights on one the largest greenfield mining sites in the world being carried out by Phoenix in Abu Dhabi, as well as survey results by Roland Berger, that assesses the state of the global Crypto Economy for which they collected insights from over 150 C-level executives and innovators across 10 industries. "We strongly believe in the transition towards a crypto economy and see this reflected in the top C-Level executive agendas. The UAE is accelerating its global position as a Crypto and Web3 hub, also thanks to prime ecosystem developers like Crypto Oasis," says Pierre Samaties, Partner and global co-head of the firm's Crypto economy team.

The UAE is uniquely positioned to play a leading role in the global innovation economy. The growth of the Crypto Oasis Ecosystem will continue in the coming months as we can already witness how regulators in the region are welcoming innovation and disruption, making it simpler for Blockchain-related companies to secure licenses and operate. Ralf Glabischnig, Founder of the Crypto Oasis said, "We are pleased to see the UAE supporting forward-thinking organisations such as startups, service providers, investors, as well as science and research institutions in the Web3 space. We also have industry leading stakeholders like ADGM, DIFC, DMCC, Simmons and Simmons, State Street featured in our report which will provide the audience with a deeper insight into industry trends as well as educate and inform the reader of this ever growing and evolving ecosystem. Through the report, you are provided with a snapshot of the Ecosystem, which will help set the baseline from which growth can be identified in the following years as the Crypto Oasis becomes a centre of Blockchain excellence."

Crypto Oasis catalyses the growth of organisations in the Crypto space and brings together Investors, Start-ups, Corporates, Researchers, Service Provider, and Government entities. It aims to advance the digital economy in the Middle East and bring distributed ledger technologies to the mainstream. Faisal Zaidi, Co-founder and CMO of the Crypto Oasis stated, "Our role is to curate the Crypto Oasis Ecosystem and our goal is to bring all stakeholders together on one playing field to assert the region as the leading global player in Web3."

He added, "The Crypto Oasis Directory and the parallely launched report, are tools that we have developed and created inhouse and published, in order to create transparency and awareness of this emerging region."

The report also contains insightful thought leadership articles from major players in the industry like 4ARTechnologies, Pulse, Ripple, Securrency, Singularity DAO, TDEFI, Tokengate, Virtua to name a few.

Report Link: https://cryptooasis.ae/ecosystem-report-2022/
Directory Link: https://cryptooasis.ae/directory/

About Crypto Oasis

The Crypto Oasis is a Middle East focused Blockchain Ecosystem supported by initiators of Crypto Valley Switzerland. 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, with more than 1,450 organisations identified in the UAE alone. www.cryptooasis.ae

About Roland Berger

Roland Berger is the only management consultancy of European heritage with a strong international footprint. As an independent firm, solely owned by our partners, we operate 51 offices in all major markets. Our 2,700 employees offer a unique combination of an analytical approach and an empathic attitude. Driven by our values of entrepreneurship, excellence and empathy, we at Roland Berger are convinced that the world needs a new sustainable paradigm that takes the entire value cycle into account. Working in cross-competence teams across all relevant industries and business functions, we provide the best expertise to meet the profound challenges of today and tomorrow. www.rolandberger.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The Crypto Oasis Partners with Plato & Amplifi in the Middle East Region

DUBAI, Oct 4, 2022 – (ACN Newswire) – Inacta Comms which is part of the Crypto Oasis has partnered up with Plato. It has acquired the rights to the Plato Platform in all of the Middle East. The partnership will enable Crypto Oasis to connect with the wider community and promote Web3 and blockchain awareness in the Middle East and worldwide. Plato's extensive exposure will target media houses all over the world. Plato identifies and organizes both public and private data sources that make accessing this information faster and more efficient. By layering information with highly contextual and validated data sets, we create an authentic and value-driven user experience. Plato exists to distribute content in a secure and efficient way by separating signal from noise.




"We are delighted to have Plato as one of our partners," said Faisal Zaidi, CMO of Crypto Oasis. "Ideas grow into great visions and by through this partnership in the middle east, it will help us distribute data intelligence in a personalized, secure and private way. This partnership will go a long way."

Plato is an open intelligence repository and platform that unlocks the power of Vertical Search in a highly scalable and secure web3 interface. The platform is designed to provide an ultra-safe and secure environment to consume sector-specific real-time data intelligence.

Bryan Feinberg, CEO of Plato , commented, "We are honored to be partnered with Crypto Oasis as it represents a best-of-class web3 ecosystem for the UAE and beyond. Our strategic goals are very much aligned."

Plato / Amplifi will be used to distribute press releases to various editorial offices and journalists which will guarantee coverage worldwide. Plato uses its internal syndication to electronically connect with thousands of media outlets. The services provided are tailored to the type of news you're distributing. Using Plato can help target specialty media in a unique way. A good service will increase the chances of getting your message seen by the public.

About Inacta

Digital, decentralised, innovative – Inacta AG, founded in 2009 and based in Zug, is an independent Swiss IT company. More than 100 experienced digitalisation experts support organisations from the insurance, banking, real estate, and healthcare industries. Inacta supports established companies as well as start-ups with consulting, project management, and software development. As a leading technology provider for many years, Inacta uses state-of-the-art methods and leads numerous blockchain projects worldwide.

Web: https://inacta.com/en

About Plato

Plato is an open intelligence repository and platform that unlocks the power of Vertical Search in a highly scalable and secure web3 interface. The platform is designed to provide an ultra-safe and secure environment to consume sector-specific real-time data intelligence. Plato's AI curates the latest sector intelligence with insights into the people, companies, and culture driving innovation today.

Web: Platodata.io / AmpifiPR.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

WFIS Paces to Unveil Indonesia’s Most Advanced FSI Show

JAKARTA, INDONESIA, Oct 3, 2022 – (ACN Newswire) – With Indonesia darting to incorporate the latest technology innovations in FSI, the country's fintech is expected to generate $8.6 billion revenue by 2025. The move is further getting bolstered by Otoritas Jasa Keuangan (OJK) that is bringing favorable regulatory changes and has even launched "Master Plan for the Indonesian Financial Services Sector (MPSJKI) 2021-2025".



To support Indonesia in powering an inclusive Financial Services & Insurance industry, Tradepass is hosting the 11th edition World Financial Innovation Series (WFIS) at Hotel Mulia Senayan in Jakarta, Indonesia on 4 – 5 October 2022.

The event so far has drawn an array of the most spectacular technology providers to showcase their cutting-edge solutions from their exclusive exhibition booth on the event days. The list includes TigerGraph, Newgen, ExtraHop, Resulticks, SEON, Incode, Backbase, PT NEC Indonesia, Solace, Hazelcast, Perfios Software Solution, Freshworks, Weefer, Credgenics, PT CRIF Lembaga Informasi Keuangan, Provenir, 8×8, Feedzai, Teleperformance Indonesia, AI Rudder, M2P, Finastra, IT Group Indonesia, Outsystems, Perkasa and Mambu.

In a statement issued, following TigerGraph's participation announcement, Herfini Haryono (Country Director Indonesia, TigerGraph) expressed, "Graph technology is increasingly viewed as a gamechanger in the financial services space. With a projected transaction value of USD125 billion for digital payments in Indonesia by 2027, there is an urgent need to bolster fraud prevention and detection as well as data risk assessment capabilities to help companies lower costs of payment fraud, uncover latent fraud patterns and deliver holistic customer experiences. Deep-link analytics, when combined with AI and Machine Learning, will be indispensable to financial institutions and fintech players that require real-time insights to improve and strengthen internal security procedures."

WFIS 2022 – Indonesia, will also host over 500 technology and business heads from the leading Banks, Insurance & Micro-Finance institutions across the country who will explore the ideal technology solutions for their firms at the event's Exhibition Hall. They will also get a chance to take back the latest industry intel shared by the most inspirational thought leaders comprising the best minds from FSI.

During an interview, the Co-Founder and CEO of Credgenics, Rishabh Goel gave a very interesting fact about the industry, he mentioned, "We have observed that more than 50% of the collections in retail loans can be completed through digital and automated mode, without any need for manual effort intervention. However, this potential has been underutilized due to the lack of a modern, digital-first and analytical approach. We are changing this by working with lenders across India and South East Asia to make their debt collections digital, data-driven, and customer-centric. We are excited to be a part of WFIS Indonesia and looking forward to engaging with the industry leaders over the two days."

The event will power two knowledge-packed days filled with insightful presentations on the most pressing industry topics, deep dive panel discussions with the leading thought leaders, live showcase of the best fintech solutions and abundant networking opportunities.

Francesco-Strobbe, Lead Financial Sector Economist, The World Bank is of the opinion, this summit provides an excellent opportunity to bring together financial institutions, regulators and other stakeholders to exchange perspectives and discuss the future direction of the financial services industry in Indonesia. This is critical to ensure that financial institutions continue to support the real sector, facilitate the transition towards a green economy, and explore new technologies to disburse inclusive finance."

Some of the confirmed speakers for the event include IMANSYAH, Deputy Commissioner of OJK Institute and Digital Finance, OJK, TRIYONO GANI, Executive Director Digital Finance, Innovation Group, OJK; RITESH VARMA, Global Head and Vice President for Business Solutions Group, Newgen Software; DANIEL CHU, Vice President of Systems Engineering, APJ, ExtraHop Networks; MANI GOPALARATNAM, CEO & CTO, Resulticks; GHULAM IMADUDDIN, Director, Solutions Engineering, TigerGraph; KAIJIE HO, Senior Account Executive, SEON; RISHABH GOEL, Co-Founder and CEO, Credgenics and many others.

Some of the crucial topics from the event include, 'Making Debt Collections Digital, Data-driven and Customer-centric', 'Defining An XDR Strategy', 'Data Driven CX in a Transformed World', 'Neo-Banks', 'Cloud Banking Platform', 'Building an AI Powered Bank' and many others.

Organizer and CEO of Tradepass, Sudhir Jena expressed, "At a time when Indonesia is geared up to establish financial inclusion in the country, World Financial Innovation Series (WFIS) will be of paramount importance as not only it will bring the latest developments from the industry to the fore but will also foster collaboration between the public and private sector."

For more information about the event, log on to: https://indonesia.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 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Crypto Oasis Hosts 3 pivotal Web3-related Sessions at the Inaugural Dubai Metaverse Assembly

DUBAI, Sep 30, 2022 – (ACN Newswire) – The inaugural Dubai Metaverse Assembly first announced by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and organised by the Dubai Future Foundation, took place on September 28 and 29. The Crypto Oasis, the fastest growing blockchain and Web3 ecosystem in the world, hosted the three sessions at the event that brought together regional and international experts in Dubai to shape the future of the metaverse.



The first session featured Meta Decrypt discussing "Design Thinking – Digital Economy in the Metaverse". This was an enriching and engaging talk about creating a more participatory economy and also discussed a broad range of metaverse use cases from strategy through execution. It is expected that a fully realised metaverse won't just be a part of the digital economy, but its own quasi-independent economy that may end up reweaving the fabric of the digital world.

The second session was a panel discussion on Venture Capital in the Metaverse. The participants included:

– Valerie Hawley – True Global Ventures
– Jawad Ashraf – Virtua
– Domenik Maier _ iBLOXX
– Saqr Ereiqat – Crypto Oasis

The metaverse is a venture capitalist's dream. The metaverse represents a real opportunity for cutting-edge innovation and significant startup returns. VCs around the world acknowledge that it has the potential to be a multi-trillion dollar market. With advances made in bandwidth, chips, software, and new (hardware) platforms, metaverse adoption is expected to rise, which is why there is an abundance of capital in this space.

The final session was a thought leadership talk by Crypto Oasis Co-Founder Saqr Ereiqat titled "Web2 is Silicon Valley, Web3 is Crypto Oasis".

Speaking about the event and the Crypto Oasis sessions, Ereiqat said, "The Dubai Metaverse Assembly is another step towards the United Arab Emirates being the leading digital economy. The 'Digital Economy Strategy' aims to double the contribution of the digital economy to the UAE's gross domestic product (GDP) from 9.7 percent as of April 2022 to 20 percent by 2031. It also seeks to enhance the position of the UAE as a hub for the digital economy in the region and globally as we are already witnessing and supporting an influx of intellectual resources into the UAE.

"We believe an ecosystem consists of Talent, Capital, and Infrastructure, with the UAE bringing those three together. We have therefore coined the MENA region as Crypto Oasis. At the Dubai Metaverse Assembly, we proudly hosted three sessions to educate, inspire, and contribute. Today, the Crypto Oasis, with the UAE at the heart of it, is pushing the frontier in the Web 3 space. While Web 2 was primarily based out of Silicon Valley, events like the Dubai Metaverse Assembly and others will ensure that Web 3 is the Crypto Oasis."

The metaverse assembly cements Dubai's position as the world's metaverse capital as it looks to leverage Dubai's digital infrastructure and support global transformations and disruptions. The flagship event explores the digital economy and identifies opportunities to help startups, entrepreneurs, communities, investors, and governments unlock the unlimited potential of the metaverse to create a bolder future. The Crypto Oasis is delighted to be part of this first of its kind event that sees the world's leading metaverse experts converge in Dubai.

About Crypto Oasis

The Crypto Oasis is a Middle East-focused blockchain ecosystem supported by initiators of the Crypto Valley Switzerland. The core elements needed for its development are Talent, Capital, and Infrastructure. The Ecosystems stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Education & 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, with more than 1,100 organisations in the UAE alone. The forecast is to identify over 1,500 established organisations across the region by the end of 2022. www.cryptooasis.ae

For more information contact:
Faisal Zaidi
Crypto Oasis
faisal@cryptooasis.ae
+971552000840

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Velas Expansion Plans Boosted by Gem Group $135 Million Financial Commitment

ZURICH, SWITZERLAND, Sep 29, 2022 – (ACN Newswire) – Velas Network, a leading blockchain protocol and ecosystem of related software products, has today revealed details of a major new partnership with Bahamas-based digital asset investment firm GEM Group ("GEM").

The $135M financial commitment is set to help Velas Network consolidate its position as the global leader in new blockchain technologies. This will support the business to deliver on its ambition to improve everyone's lives by making advanced and disruptive technologies more accessible.

Since its launch in 2019, Velas has rapidly established itself at the forefront of blockchain products and services. Thanks to its industry-leading transaction speeds, unparalleled security, and zero carbon certification, it has already become the blockchain partner of choice for many of the world's leading brands.

Today's $135M financing announcement is now set to supercharge Velas' progress. The new financing facility will help accelerate Velas' ecosystem growth and help to ensure that its cutting-edge blockchain is more effective, sustainable, and accessible than ever before.

Farhad Shagulyamov, co-founder of the Velas Project says, "I am delighted to announce GEM as Velas' new strategic partner. The size and scale of the financing they are committing to is a clear indicator of the confidence institutional players have in the potential of our technology, the skills of our team, and the robustness of our business model.

"This financing facility will boost our ability to introduce innovative technologies and solutions to the global marketplace, taking us into new markets and sectors. It will allow us to expand our ecosystem and improve the blockchain itself, expanding the number of users who can benefit from our cutting-edge approach.

"This partnership would have been impossible without the hard work and commitment of many people behind the scenes at both Velas and GEM. I would like to thank both teams for the diligence, commitment and professionalism that has helped deliver this ground breaking deal.

At Velas we are driven by a shared belief that opening up access to new technologies has the potential to benefit businesses, communities, and the planet. This significant investment will not just make a difference to our own business, but it will also benefit our customers worldwide."

About VELAS

"Velas" is a trading name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged therein.

Velas is currently the fastest blockchain with Ethereum VM compatibility and was founded in 2019 in Zug, Switzerland.

Velas is also one of the most efficient blockchain networks for secure, interoperable, extremely scalable transactions and smart contracts that is integrating world-changing technology products and services with the aim of improving people's lives all over the globe.

Velas is creating an innovative environment for decentralized applications, social platforms, open finance, access management solutions, Web 3.0 DeFi apps, micro-apps and more.

Providing up to 75,000 transactions per second with extremely low fees, Velas is one of the most efficient blockchain networks available. Being an ecosystem using a wide range of decentralized products and services, the main goal of Velas is to bring blockchain technology to all types of users, from micro-startups to enterprise divisions while undergoing active efforts of being certified as a Climate Neutral blockchain and aiming of being a fully distributed Space network by 2025.

Email: info@velas.com
Website: https://velas.com

About GEM Group

GEM Group is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally. Global Emerging Markets ("GEM") is a $3.4 billion alternative investment group with offices in Paris, New York, and the Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in seventy-two countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provides GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments. www.gemny.com

Velas Website: https://velas.com
Twitter: https://twitter.com/VelasBlockchain
Instagram: www.instagram.com/velas.blockchain/
Facebook: www.facebook.com/velasblockchain
YouTube: www.youtube.com/channel/UCZQNv-bdPKppg6akwWggmyQ
Telegram: https://t.me/velascommunity

Source: Plato Data Intelligence: www.platodata.ai

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Kashifu Inuwa: Putting NITDA on the Cusp of a Revolution

LAGOS, NIGERIA, Sep 29, 2022 – (ACN Newswire) – Nothing offers a more reliable picture of a country's economic performance better than a periodic assessment of sectoral contribution to Gross Domestic Product (GDP). It's no less so in Nigeria where a report by the National Bureau of Statistics indicates that Nigeria's Information and Communications sector contributed 18.44 percent to the GDP in the second quarter of 2022. The figure was an improvement from the 15 percent performance recorded in the last quarter of 2021.


Kashifu Inuwa, NITDA Director-General: "Globally, there is a shortage of talents, so, we are creating a mandate to develop a talent strategy because we have a competitive advantage as a country with our vast human and natural resources. Nigeria can seize the opportunity to fill that gap" [Image: NITDA 2022]


A little context will help put the significance of this growth in real perspective. The NBS data shows that the country's Information and Communications sector's contribution trumped the figures recorded by sectoral powerhouses such as Oil and Gas, Manufacturing, Real Estate, and Financial and Insurance. The plaudits – or a huge part thereof – for that sterling performance should go to the Ministry of Communications and Digital Economy, its helmsman Professor Isa Ali Ibrahim and the National Information Technology Development Agency (NITDA), and its steerer, Mr. Kashifu Inuwa Abdullahi.

NITDA, as the Federal Government Agency responsible for the development of the Information Technology sector in Nigeria, it is one of the seven agencies under the Ministry of Communications Technology and Digital Economy.

NITDA's impressive scorecard could be glimpsed also in how quickly it has been able to develop strategies, to help grow the Nigeria information technology ecosystem in a COVID and emerging post-COVID era. Under its dynamic and innovation-driven Director-General, Kashifu Inuwa, so much has been achieved by the Agency in a short span of three years.

The NITDA Director-General, who recently marked three years in office, has gradually realigned and re-positioned the Agency, aiming to grow its capacity to respond adequately to the changing conditions and complexities of a digital economy in a fast-evolving global and local digital market.

Milestones achieved under the leadership of Inuwa have been multi-faceted and stand out as bold testaments of his commitment to innovation. Inuwa's vision for NITDA in the medium term is encapsulated in a robust and bold policy framework – the Strategic Roadmap and Action Plan (SRAP, 2021 – 2024), which was launched last year.
SRAP is designed to support the even broader, National Digital Economy Policy and Strategy (NDEPS) enunciated by the Ministry of Communications and Digital Economy.

The many achievements recorded so far belie the fact that NITDA has implemented SRAP for just one year, a development that Inuwa recalls with an understandable pride: "The first year of implementing the NITDA Strategic Roadmap and Action Plan (2021 – 2024) has been one of deep learning, overcoming challenges and celebrating amazing breakthroughs. Along the way we got conferred with the prestigious National Productivity Order of Merit (NPOM) award, in recognition of our productivity, hard work and excellence in service delivery."

In June 2021, the Agency started operating the National Public Key Infrastructure (PKI) with the Key Generation and Handover Ceremony for Root Certification Authority (RCA) for Country Signing Certification Authority (CSCA) and Country Verification Certification Authority (CVCA) of the Federal Republic of Nigeria. The NITDA Director-General remains upbeat about its prospects: "This unprecedented cybersecurity landmark (NDEPS Pillar 6) will not only close loopholes in online activity but significantly reduce system vulnerabilities that are exploitable by threat actors." That was undoubtedly a milestone achievement for Nigeria's digital space.

To further close out loopholes in online activity and generate proper accreditation of professionals, the Agency intends to implement seven cybersecurity interventions that are focused on the PKI.

A key component of this creative platform is that, it will coordinate the management of the Country Object Identifier (OID), and upgrade the PKI authentication infrastructure, create a PKI Audit requirement for Microsoft onboarding on operating systems, and integrate PKI with major hardware/software vendors. "We will then construct, furnish, and equip two National Cybersecurity Research Centers," Inuwa says.

With regard to the expected outcome, Inuwa, reputedly Nigeria's first Cisco-Certified Internetwork Expert (CCIE) public servant, says: "Digitalisation of Government processes facilitates transparency, efficiency, productivity, participation, inclusiveness, cost savings, and competitive advantage, which ultimately translates to social and economic development for a country like Nigeria."

He also estimates that the "implementation of Enterprise Content Management (ECM) can save Nigeria N4.5bn annually". For a government determined to curb corruption and cut costs, this is quite significant. Some of NITDA's action plans in the area of regulation and framework development, which are already in the works, include fostering Gender Digital Inclusion, enthroning a seamless e-Commerce environment and enhancing government digital services.

"In 2022, we are developing the Framework on Gender Digital Inclusion (GDI), with the aim of codifying learning standards for different categories of IT learners, while addressing the wide gender disparities in digital literacy and skill acquisition," he said.

He is optimistic that the Guidelines for e-Commerce in Nigeria will provide an enabling framework for e-commerce to thrive and increase online trade's contribution to Nigeria's GDP. Just as crucial, he noted, is the planned development of the "Framework and Regulations for Implementing Government Digital Services (GDS) as a Guideline for Federal Public Institutions (FPIs) to deliver digital services and the Framework for Implementation and Compliance with relevant regulations to ensure compliance with all developmental regulatory instruments such as the NDPR, Cloud Computing, outsourcing, among others".

To some, these goals may seem rather grandiose. But Inuwa possesses a tapestry of experience as an IT professional, having worked, and indeed excelled, in highly challenging environments, among which are the Central Bank of Nigeria and Galaxy Backbone Limited. This imbues him with a capacity to sufficiently address current developments and discern the dynamic trends and markets in the IT sector. His deep knowledge of IT trends reflects in the remarkable way he has steered the Agency to address the likely challenges of tomorrow's digital environment.

Under Inuwa, NITDA has issued 966 digital tools and supported the development of digital transformation plans in accordance with NDEPS Pillar 5 in 3 states. "These digital tools and expert guide, which are part of our initiative to develop a framework and implementation toolkits for measuring the impact of digital technology deployment in FPIs are already enabling institutions to embark on digital transformation self-assessments," he said, regarding the feat.

When Inuwa assumed office as NITDA's Director General in mid-2019, the global Covid-19 pandemic which led to the lockdown of several cities worldwide, including Nigeria, was only a few months away. When it hit the country in February 2020, prompting a government-ordered lockdown in April 2020 which lasted for several months, the Agency initiated and adopted several remote and contactless digital technologies that ensured government machinery kept working throughout the critical period. Inuwa set up a team called Tech4Covid to cushion the effects of Covid-19. This led to the identification of three innovations that helped curb Covid-19 and the establishment of a virtual academy for research and training with over 70 active courses and over 485,000 active students.

In the circumstances, Inuwa's leadership and managerial skills which had been honed by several high-level trainings in leadership and management at reputable world-class institutions such as Harvard, Sloan Business School, London Business School, IMD Business School, Oxford University, Massachusetts Institute of Technology and Cambridge University, all came into play, ensuring that critical digital services are being delivered to government and that government can continue to perform its various functions effectively. The same expertise has come into play in his relentless efforts, to transform the Agency into a world class IT Agency.

One instance of this transformation is the service delivery. The Director General comments: "In terms of the service contract, we reviewed the existing SERVICOM unit, expanded stakeholder identification, introduced new roles, realigned responsibilities to absorb the changes, created a new identity tagged iServe, and completed a sensitization process with key action points. Today, iServe represents our people first commitment to customer satisfaction through innovation and professionalism as we pursue the digital economy goals."

Another key part of NITDA's statutory mandate is massive upskilling and reskilling of Nigerians across all walks of life. NITDA under Inuwa, has trained well over half a million Nigerians in various basic digital skills and literacy, with such diverse backgrounds as junior schoolteachers, traditional rulers, journalists, youth and talent development programme participants, among others.

The Agency has embarked on a journey to train 1 Million Software Developers in the next 18 months, in collaboration with global giants such as Microsoft, Google, and other key ecosystem players. "Globally, there is a shortage of talents, so, we are creating a mandate to develop a talent strategy because we have a competitive advantage as a country with our vast human and natural resources. Nigeria can seize the opportunity to fill that gap", the NITDA, DG says, with high optimism.

At a higher level, NITDA has awarded over 450 scholarships in IT to deserving Nigerians at the master's degree level, with 42 Phds, in the past few years.

Inuwa is delighted with the phenomenal growth of the Nigerian Digital Innovation Ecosystem. Recent large acquisitions such as Stripe's $200 million takeover of Paystack in 2020, the $320 million Main One Ltd take over by US-based Equinix, and Flutterwave's $3.5 billion valuation have proudly spotlighted the country as a notable digital innovation centre in Africa.

In the first half of this year alone, Nigeria's Digital technology and innovation startups have raised over one billion dollars in venture capital funding from major Western capital market funds. Notable among them are Sudo Africa, $3.7 million, Casava, $4 million, DrugStoc, $4.4 million, Bamboo, $15 million, Credpal, $15 million, and Reliance Health, $40 million.

NITDA itself, has recently facilitated the support of six digital information technology start start-ups to access grants of $120 thousand each, amounting to $715 thousand. The Agency is actively backing several digital innovation hubs and has set up such hubs around the country, including over 150 start ups which it has supported to attend the GITEX global exhibition, World Creativity Challenge, among others.

Just the beginning of this year, NITDA facilitated the approval of three Federal Executive Council memos through the Ministry of Communications and Digital Economy, in favour of digital startups. These approvals will incentivise and further harness the country's digital innovation and entrepreneurship ecosystem to create job opportunities for its teeming youth population.

Within three years, Inuwa has equipped 160 digital economy centres around the country to further catalyze skills development and digital innovations.

According to Statista, 35 million Nigerian internet users will be added by 2026, which is another clear indication of increasingly phenomenal growth in internet adoption and usage in Nigeria.

Addressing the recent Ogun State Digital Summit in Abeokuta, on Digital Technologies: Key to Sustainable Development, Inuwa affirms that "Digital Technology innovation is not only booming, but it is also quickly moving towards sustainable solutions, with many of the most promising ideas from businesses worldwide having a clear focus on the environment."

An innovation powerhouse, Inuwa would yet, undoubtedly, be pushing forward the boundaries of innovative digital technologies in Nigeria and beyond, in the coming years.

Contributed by Iklima Musa
Lagos, Nigeria 28/09/2022.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Meet Spectre: The Platform Revolutionizing and Simplifying High Frequency Trading

St Vincent & the Grenadines, Sep 28, 2022 – (ACN Newswire) – When first stumbling into the world of high frequency trading, the complicated jargon and unintuitive platforms are oftentimes a barrier for non-technical users to understand their workings. Luckily, with the increase in interest in blockchain technology around the world coupled with human nature to innovate, development teams around the world are creating platforms for novice and experienced users alike to trade cryptocurrencies in a simple manner. A web search for "best trading platform" yields nearly 383 million results. Yet, after diving into some of these results, one stumbles across a conglomerate of difficult-to-comprehend terminology, tools, and trading techniques incomprehensible for beginners. In a world that is so interconnected and education is so accessible, how is it possible that an integral aspect of the financial system is still unreachable for complete beginners?




Luckily, with the increase in interest in blockchain technology around the world coupled with human nature to innovate, development teams around the world are creating platforms for novice and experienced users alike to trade cryptocurrencies in a simple manner. Spectre.AI is leading this trend.

Spectre is an online financial trading site created with the vision of allowing anyone to trade assets in a fraud-free and broker-free manner. Amassing an impressive 140,000 traders, Spectre has created an ecosystem that enables users to trade simply while minimizing risk and complexity.

As opposed to traders betting on token price fluctuations, Spectre introduced a trading strategy by predicting crypto directions! Traders can bet whether they believe the next time period (minutes, hours, days, or even seconds) will have a general up or down price movement. At the time of writing, they offer trading on any normal currency pair, metals, a variety of digital assets (all the big names, with more DeFi and NFT focused tokens to come in the future), and equities across several global stock markets!

Spectre also introduced two new financial products that have been a wide success across the financial trading industry: EPICs and Reverse Futures. In short, EPICs are Spectre's benchmark index of Euro-based currency pairs, completely traded through time. Reverse Futures are Spectre's digital contracts on past global equities. Currently, their Reverse Futures offering supports Apple, Microsoft, Facebook, Tesla, Twitter, and a variety of Indian equities. Several more are set to launch soon. Reverse Futures allows traders to trade on real-world equities but from an historical point of view. The concept is to synthetically construct the price performance of strong assets from the past and streamed them forward in time. This idea, although a bit complex to understand at first, revolutionizes the financial trading sphere by creating a completely new way for traders to profit.

Another interesting feature Spectre offers is the several ways to structure trading accounts, namely on and off-site trades. Through on-site accounts, the trading funds are deposited into the account and are used to trade directly on the platform, similar to most other trading exchanges. This juxtaposes their other trading option, off-site accounts, which is a fully decentralized and broker-less trading option. In short, users don't have to actually deposit as all trades are initiated by them through their cryptocurrency wallet whilst using the platform. All of these trades are stored on their underlying blockchain. Given blockchain's inherently publicly distributed and open-source nature, these trades provide unprecedented levels of transparency to the trading platform while ensuring complete safety of client funds. Additionally, Spectre offers a DeFi boost wallet where traders can earn the highest staking rewards in the industry, both in blue-chips and the DeFi token of their choosing. In addition, coupled with their 24/7 no-fee and fully compliant trading, Spectre has a robust analytics page for everyone to review their past trades and understand their profits and losses.

Another interesting aspect of Spectre is their trading bays. Finance and gaming have long been industries that have not coincided. Yet, with Spectre's introduction of trading bays, that is slowly changing. Trader's Bay is an online store, built into the Spectre platform itself that offers many upgrades and privileges that users can subscribe to for a small daily cost to enhance their trading. These enhancements include charms and spells which increase payouts, trade allocations, and limits of open positions! This article (bit.ly/3dPssEJ) brilliantly describes how the Trader Bays will unite gaming and finance. Spectre is certainly a pioneer in this regard.

To understand further how Spectre (www.spectre.ai) works, the Plato Blockchain (www.platodata.ai) team (and authors of this report) dived into the platform to grasp exactly what is attracting Spectre's massive user base. At first glance, we were very impressed with the intuitive layout of the platform and the ease of creating an account and KYC. One important thing to note, however, is that users with an IP address from the United States will not have access to the platform. After playing with the platform for a short while, we went into the orders page to analyze how our performance was. The presentation of each of our trades was impeccably detailed, featuring the exact timing each action was done, entry and exit prices, sources, amongst a variety of other data points. After years of experience across a variety of trading platforms, we concluded Spectre's reporting of our past trades was an experience unlike any other. We have plans in the future to experiment with their hyper-API, which allows developers to build automated trading robots, applications and trading interfaces that interact with the Spectre platform. We are curious and excited to understand the better applications and use-cases investment APIs for HFT will have in the future!

All in all, Spectre is certainly a game-changer platform creating a new paradigm in high frequency trading through accessibility and a suite of trading tools. In fact, Forbes India called Spectre "India's Robinhood!" (bit.ly/3SoOD3G) Ultimately, the next generation of financial tools will be led by Spectre's efforts. Through security, ease-of-use, and financial tools unique to their platform, Spectre is redefining HFT one trade at a time.

Source: www.platodata.ai

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Innovative fintech company service provider KPay completes US$10 million financing

HONG KONG, Sep 26, 2022 – (ACN Newswire) – Fintech start-up KPay Merchant Service Limited ("KPay", or the "Company") is pleased to announce that it has recently completed a US$10 million financing round with the support of its founders. KPay has developed rapidly since its establishment in Hong Kong at the end of 2020. With its leading technology and comprehensive one-stop digital payment and business management solutions, KPay has effectively catered to the operational needs of micro, small and medium-sized enterprises ("MSMEs") and has amassed more than 12,000 local merchants within a short period of time – achieving a lead over its peers in customer acquisition. KPay will use the funds raised to support product development and regional expansion, and is actively preparing for institutional round financing.


With its leading technology and comprehensive one-stop digital payment and business management solutions, KPay has amassed over 12,000 local merchants. The Company is set to develop Singapore and Taiwan markets this year.


Davis Chan, Chief Executive Officer and Co-founder of KPay, said, "KPay officially commenced operations in early 2021, adhering to the mission of empowering MSMEs to drive growth and promote digital transformation. We have established three major business engines, namely, payment with KPay, B2B ecosystem with KConnect, and MSME financing with KFund. We are encouraged by the successful completion of this US$10 million round of funding. With an experienced and professional team, the Company will continue to optimise products and services, expand market coverage, and strive to bring efficient and convenient integrated business solutions to MSMEs in various industries in Hong Kong and other Asia Pacific markets."

As a financial technology company focused on developing a full range of business solutions, KPay is committed to empowering MSMEs to enhance market competitiveness with its cutting-edge technologies. Currently, KPay's customers span across a wide variety of sectors such as retail, food & beverage, beauty, healthcare, education and professional services. Last year, the Company launched its first KPay electronic payment service to provide a one-stop transaction payment solution to merchants. Its Smart POS Terminal accepts up to 14 major payment channels including Visa, Mastercard and UnionPay, effectively simplifying the cumbersome payment collection and settlement process. The Company is also planning to launch its online payment gateway in the fourth quarter this year. Pairing with the in-house developed mobile application, merchants can view consolidated data from different payment channels. This allows merchants to easily monitor their business performance and identify sales trends.

Following the success of its electronic payment service, KPay launched the KConnect cloud business management tool platform and the KFund financing service product this year to further expand the scope of its services, bringing more innovative features and comprehensive support to MSMEs. KConnect has built a comprehensive B2B ecosystem with SaaS tools from multiple local service providers for merchants to choose from, covering membership management systems, retail systems, accounting and bookkeeping systems, inventory management, etc. Focusing on the daily operational needs of MSMEs, it provides a simple and convenient one-stop management system to help merchants easily address their operational pain points. The solution will provide an integrated data dashboard which allows merchants to view real-time operational data analyzed across multiple 3rd party SaaS tools. KFund, meanwhile, utilises merchants' transaction data to tailor financing solutions to meet their needs.

Riding on the strong growth momentum, KPay established an office and formed a business development team in Singapore in June this year. In its first step to expand in the country, KPay has launched its payment solutions to the market. The number of customers served by the Company's business in Singapore is gradually picking up and the successful business model and growth trajectory of Hong Kong market are expected to be replicated in Singapore. Meanwhile, KPay is at the final stage of preparation for its expansion into the Taiwan market. The Company envisages launching its services in the market in the fourth quarter of this year, thus taking its presence to another market outside of Hong Kong. Looking ahead, KPay will actively explore the Asia Pacific market, further expand its user base and provide comprehensive business support to more SMEs.

About KPay
Established in July 2020 and headquartered in Hong Kong, KPay Merchant Service Limited ("KPay") is a financial technology (fintech) company focusing on providing integrated business solutions, and offering professional and innovative products to enhance the market competitiveness of micro, small and medium enterprises (MSMEs) in the Asia Pacific region. KPay solutions were launched in early 2021, covering online and offline fintech services including electronic payment platforms and user management products. With the support of a top-notch technology development team, the Company strives to improve the functionality of various products to cater to the needs of merchants and help them maximise business performance. KPay is abreast of market trends in different regions where its highly experienced sales and after-sales teams provide merchants with a range of business logistics support timely, enabling MSMEs from different sectors to operate more smoothly and strategically by enhancing their ability in digital technology application, and for the Company to realise its vision of "building a mutually beneficial and synergistic e-finance ecosystem".

For more information about KPay, please visit the Company's website: http://www.kpay-group.com.

KPay Merchant Service Limited
Katie Lau +852 3706 7836 / 9804 6148 Email: katielau@kpay-group.com

Strategic Financial Relations Limited
Shelly Cheng +852 2864 4857 Email: shelly.cheng@sprg.com.hk
Carol Cheung +852 2114 2200 Email: carol.cheung@sprg.com.hk
Daphne Duan +852 2864 4833 Email: daphne.duan@sprg.com.hk


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com