Fintech PR
GRVT Secures Bermuda License, Becoming World’s First Regulated DEX, A Milestone for DeFi to Go Mainstream
SINGAPORE, Dec. 6, 2024 /PRNewswire/ — Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), which aims to become the “Goldman Sachs on blockchain”, is thrilled to announce its groundbreaking achievement as the first DEX to secure regulatory approval, having obtained the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA).
Regulated DeFi – The Key for Mainstream and Institutional Adoption
This milestone positions GRVT as the world’s first regulated DEX, setting a new global standard for decentralized finance and marking a pivotal moment in the industry’s evolution toward a more regulated and compliant approach – paving the way for mainstream and wider institutional adoption of DeFi.
GRVT has received class M “modified” digital asset derivative exchange provider license under Bermuda Digital Asset Business Act (“DABA”) and will work with the BMA to satisfy the pre-operational conditions before formally launching and serving selected corporate customers. Further, in the coming months, the platform will be working towards upgrading to the Full Class license under the DABA, aiming to launch its global institutional-grade perps DEX in the jurisdiction.
As the DeFi sector evolves, securing institutional and mainstream trust still remains a critical challenge. Without clear regulatory frameworks, many traditional financial institutions remain hesitant to engage with decentralized platforms, fearing risks related to compliance, security, and consumer protection. Regulatory approval is key to bridging this trust gap. By aligning innovation with legal oversight, DeFi platforms can offer the transparency and accountability that institutions require, helping to foster widespread adoption and drive the entire industry toward sustainable growth.
Hong Yea, co-founder and CEO of GRVT, said, “Bermuda is a pioneer in structuring and providing regulatory guidance for the digital asset market. Securing the license from the BMA reinforces our commitment to bridging decentralized finance and regulatory compliance. We’ve always believed compliance should be the foundation for crypto and DeFi, not an afterthought. Without it, earning institutional trust—and bringing revolutionary technologies to the mainstream—becomes nearly impossible.”
The Honorable E. David Burt, Premier of Bermuda, commented, “Bermuda is proud to be a leader in providing regulatory clarity to the digital finance sector. We are happy to see decentralized finance businesses like GVRT utilizing our digital asset regulations and congratulate them on successfully completing our licensing process.
The issuance of the first DABA license for a decentralized exchange demonstrates the willingness of our regulator, the Bermuda Monetary Authority, to engage with the most innovative technologies and businesses in the digital finance sector. We look forward to more decentralized finance businesses choosing Bermuda as we continue to provide the regulatory clarity needed for the digital finance sector to continue to grow.”
GRVT is continuing its pursuit of a Full Class F license in Bermuda, demonstrating its dedication to comprehensive regulatory compliance and its readiness to offer a broad spectrum of digital asset services within Bermuda’s robust regulatory framework.
Simultaneously, GRVT is actively engaging with regulatory authorities in multiple jurisdictions to advance its licensing efforts. These initiatives include aligning with the Markets in Crypto-Assets (MiCA) framework in the European Union and collaborating with the Abu Dhabi Global Market (ADGM), a leading financial center known for its innovative approach to digital asset regulation.
For more information and to join the GRVT community, visit grvt.io.
Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our [Risk Disclosure and Disclaimer] in full.
Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.
GRVT International Limited (“GIL”), the operating entity of GRVT in Bermuda, has not yet commenced operation. GIL will formally launch once it has satisfied all pre-operational conditions required by the Bermuda Monetary Authority.
About GRVT
GRVT (pronounced “gravity”) is the world’s first regulated DEX. Founded in 2022, it operates as a hybrid derivatives platform, offering off-chain order matching and on-chain settlements at an impressive 600,000 TPS. GRVT’s vision is to redesign the global financial system from its core by leveraging blockchain technology, giving more people the power to generate and fully own their wealth without barriers. With the ambition to build the “Goldman Sachs on blockchain”, GRVT brings institutional expertise to decentralized finance. Our goal is to build an open, scalable financial marketplace, where individuals can easily access financial products.
GRVT official website: https://grvt.io/
For media inquiries, contact: [email protected]
Social and Community: X | LinkedIn | Telegram | Discord
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View original content:https://www.prnewswire.co.uk/news-releases/grvt-secures-bermuda-license-becoming-worlds-first-regulated-dex-a-milestone-for-defi-to-go-mainstream-302324928.html
VICTORIA, Seychelles, Dec. 12, 2024 /PRNewswire/ — KuCoin, one of the world’s leading digital asset technology platforms, is excited to announce the strategic partnership with Holdstation, a prominent player in Vietnam’s blockchain landscape known for its innovative all-in-one asset management and wallet solution. This collaboration aims to propel blockchain adoption and DeFi innovation, fostering initiatives that enhance education, support startups, and create integrated crypto solutions tailored specifically for Vietnam and beyond.
Through this partnership, KuCoin and Holdstation will jointly develop blockchain-enabled applications, enhance infrastructure, and implement start-up accelerator programs in Vietnam. Additionally, the partnership will roll out comprehensive blockchain education initiatives targeting local communities, universities, and broader business collaborations on a global scale.
“Partnering with KuCoin enables us to combine our local expertise with their global expertise, paving the way for significant advancements in blockchain innovation within Vietnam,” said Trung Banh, Co-founder of Holdstation. “We are thrilled to support the community and contribute to the growth of a vibrant digital economy.”
Alicia Kao, Managing Director of KuCoin, stated, “We are proud to establish this strategic relationship with HoldStation. The potential in the Vietnamese market is immense, and we are committed to supporting the local community for the digital economy and blockchain technology.”
By joining forces, the partnership is poised to drive the adoption of millions of new users through the introduction of accessible and innovative tools. It also aims to fuel economic growth in Vietnam by empowering local blockchain startups to unlock their potential and build awareness through high-impact events designed to educate and provide local communities with exposure to the Web3 ecosystem through immersive learning experiences.
About KuCoin
Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 30 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.
KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.
About Holdstation
A next-generation DeFi wallet with a mission to bring decentralized finance tools and crypto accessibility to everyday users, particularly in emerging markets like Vietnam.
Holdstation continues to solidify its reputation as a leading force in the DeFi and Web3 space, boasting approximately 350,000 monthly active users. The platform has generated a total volume of $38 billion and over $3.1 million in fees. As one of the top 4 DEXs globally and the leader on ZKsync, Holdstation is driving innovation through multichain expansion, AI-powered initiatives, Account Abstraction and the introduction of features like prediction markets. Upcoming integrations with Berachain and WorldChain by Q4 2024 will boost liquidity and accessibility positions Holdstation for sustained growth and leadership in the evolving Web3 ecosystem.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-and-holdstation-partner-to-transform-vietnams-blockchain-ecosystem-302329870.html
Fintech PR
CBC Group R-Bridge Healthcare Fund Announces up to US$50 Million Financing for Human Investments Ltd. to Fund Motiva® Market Expansion
- Non-dilutive growth financing of up to US$50 million, with a synthetic royalty feature, and availability linked to achievement of certain sales milestones
- Proceeds from the financing will fund Human Investments Ltd.’s expansion of Motiva® devices in Asia
- Transaction highlights R-Bridge’s commitment to supporting access to innovative, high-quality, and safe healthcare solutions
SINGAPORE, Dec. 12, 2024 /PRNewswire/ — R-Bridge Healthcare Fund (“R-Bridge”), an affiliate of CBC Group, Asia’s largest healthcare-dedicated asset management firm, today announced the closing of a non-dilutive growth financing facility of up to US$50 million for Human Investments Ltd.
Human Investments Ltd., through its subsidiaries Motiva Korea and Motiva China, is the exclusive distribution partner in Korea and China for Establishment Labs Holdings Inc.’s innovative femtech solutions in breast health, breast aesthetics and breast reconstruction. The transaction provides Human Investments Ltd. access to non-dilutive growth financing of up to US$50 million, with a synthetic royalty feature, and availability tied to achieving certain sales milestones. The proceeds will support Motiva Korea’s continued growth and market-leading position in the Korean medical aesthetics and reconstruction market. In addition, it will fund the market expansion of Motiva China, following Establishment Labs’ National Medical Products Administration (NMPA) approval in November 2023 for the sale of Motiva® devices in China.
Dr. Michael Keyoung, Senior Managing Director & Head of Private Credit and Royalty at CBC Group, said “R-Bridge is pleased to partner with Human Investments Ltd. in supporting the Asian commercial launch of its innovative and differentiated solutions. We are impressed by the success of Human Investments Ltd. in establishing market leadership in the global benchmark Korean medical aesthetic and reconstruction market. This financing demonstrates our commitment to supporting promising healthcare companies in expanding access to innovative, high-quality and safe solutions aimed at improving health and wellness.”
John Lim, Founder and CEO of Human Investments Ltd., said “Within three years of its launch in Korea, we established Motiva® as the preferred and market-leading brand for augmentation and reconstructive mammaplasty in the Korean women’s health market, and we anticipate replicating that success across Asia. Surgeons and consumers are highly attuned to the latest innovations in science and technology, and we are excited about the opportunities this financing will provide Human Investments Ltd. to position Motiva® as a truly innovative and differentiated option in the Asian medical aesthetic and reconstruction market.”
About R-Bridge
R-Bridge Healthcare Fund is an affiliate of CBC Group, Asia’s largest healthcare-dedicated asset management firm with an AUM of $9 billion, headquartered in Singapore with offices in U.S., Asia, and Europe. With a diversified, multi-product strategy, CBC Group focuses on platform-building, buyout, private credit and royalties, and real estate, across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services.
R-Bridge was founded in 2019 to provide alternative, non-dilutive financing for healthcare companies backed by royalties, revenue interests and other cash flow generated by sales of healthcare products and services in Asia as well as globally, with the intent to generate attractive and non-correlated returns for investors. R-Bridge raised its inaugural fund in 2020 and is currently investing from its successor fund, RBF II.
For further information, please visit www.cbridgecap.com
Connect with us on LinkedIn (CBC Group).
About Human Investments Ltd.
Headquartered in the United Arab Emirates, Human Investments Ltd. is the exclusive distribution partner in Korea and China for Establishment Labs Holdings Inc., a global medical technology company dedicated to improving women’s health and wellness through the power of science, engineering, and technology. Through its subsidiaries Motiva Korea and Motiva China, Human Investments Ltd. currently markets Motiva® devices in the Korea and China markets. Motiva® Devices, known for their advanced 3D negative imprinting technology, are recognized for their superior safety and natural look and feel. The Motiva Flora® tissue expander is used to improve outcomes in breast reconstruction following breast cancer and it is the only regulatory-approved expander in the world with an integrated port using radio-frequency technology that is MRI conditional. Since first becoming commercially available in 2010, nearly four million Motiva® devices have been delivered to plastic and reconstructive surgeons in over 85 countries in which they are available. The Motiva® device recently received U.S. FDA approval, representing the first new breast implant PMA approved by the U.S. FDA since 2013. Following regulatory approval by the National Medical Products Administration (NMPA) in November 2023, Motiva® devices were launched in February 2024 in China, leveraging its position as a market leader in Korea.
View original content:https://www.prnewswire.co.uk/news-releases/cbc-group-r-bridge-healthcare-fund-announces-up-to-us50-million-financing-for-human-investments-ltd-to-fund-motiva-market-expansion-302329797.html
Fintech PR
Cellwatch Parent, NDSL, Merges with RLE Technologies; Forms New Platform, Parameter, Strengthening Solutions for Data Centers and Critical Infrastructure Amid Surging AI Power Needs
CHICAGO, Dec. 12, 2024 /PRNewswire/ — May River Capital, a Chicago-based lower middle-market private equity firm, and its portfolio company, RLE Technologies, today announced the acquisition of NDSL Group Ltd., manufacturer of Cellwatch and leading battery monitoring and management solutions for data centers, utilities, and telecom markets. The two companies will merge as a new platform company, Parameter.
Parameter represents the combined strengths of RLE Technologies and NDSL, with more than 70 years of collective experience providing process industry and facilities management professionals with real-time insights into mission critical operations. Parameter’s advanced solutions sense, detect, monitor, analyze, and predict the quality, condition, and volume of liquids, gases, energy, and materials in their environments. Parameter serves end markets including data centers, utilities, critical infrastructure, and more.
Based in Raleigh-Durham, North Carolina, NDSL brings a 30-year history as a trusted supplier of the industry-leading Cellwatch line of products and services. NDSL’s comprehensive monitoring solutions enable customers to most effectively manage their critical battery investments. Cellwatch products prevent outages, reduce costs, meet regulatory requirements, and offer the strongest durability and reliability in the industry.
Based in Fort Collins, Colorado, RLE Technologies brings a 40-year history as provider of facility environment monitoring, fluid leak detection, and airflow management products, helping facility operations professionals protect against failures that could lead to disruptions in mission critical environments.
Through a holistic approach to monitoring and management, Parameter’s comprehensive portfolio of products protects the world’s most valuable assets and makes the future of vital operations more predictable and manageable.
Dan Barlow, May River Capital Partner, noted: “We are excited to unite the deep teams and resources of NDSL and RLE under the Parameter banner. This merger strengthens our ability to best serve the critical infrastructure monitoring and detection needs of our customers.”
“We are thrilled to be joining with RLE Technologies and rebranding as Parameter,” said Earl Philmon, CEO of NDSL. “NDSL has been a trailblazer in battery asset management and monitoring, helping to prevent unplanned outages with innovative solutions. Our Cellwatch line complements RLE’s products. The benefits of this union are significant, and I look forward to the growth opportunities ahead,” Philmon added.
“With the support of May River, the strongest teams and the global leading technology companies in system monitoring for essential industries are brought together in Parameter. I am excited to partner with Earl and our team of experienced professionals to launch Parameter and to accelerate the advancement of future technologies and capabilities,” said Mike Blazes, CEO of RLE Technologies and Parameter.
Mesirow Financial and Laytons LLP served as financial advisor and legal counsel to NDSL, respectively. Livingstone Partners LLC and Paul Hastings LLP served as financial advisor and legal counsel to May River Capital, respectively. Tree Line Capital Partners provided debt financing in support of the acquisition.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com.
About Parameter
Parameter is a new May River Capital platform company formed by the merger of RLE Technologies and NDSL. Parameter empowers process and facility management industries with real-time insights into mission critical operations. Parameter’s advanced solutions sense, detect, monitor, analyze, and predict the quality, condition, and volume of liquids, gases, energy, and materials in their environments. By transforming complex data inputs into actionable intelligence, Parameter makes the future of vital operations more predictable and manageable. Parameter has operations in Fort Collins, Colorado; Raleigh-Durham, North Carolina; Milton Keynes, United Kingdom; and Shanghai, China. To learn more, please visit www.parameter-tech.com.
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