BEIJING, Nov. 19, 2024 /PRNewswire/ — John Kimani, an expert from the Kenya Agricultural and Livestock Research Organization, is enthusiastic about the potential of a new type of rice developed by China to make a new contribution to food security and the fight against poverty in his homeland.

Kimani, who is in charge of the rice fields, said the new rice can yield up to 7.5 tonnes per hectare, more than doubling the output of traditional Kenyan varieties. The new rice variety is expected to be approved in Kenya this year and bring new hope of attaining food self-sufficiency to this African country, where over 80 percent of its rice is imported.

In recent years, China has assisted African countries in poverty reduction and supported the two sides in carrying out poverty reduction exchanges and cooperation, bringing tangible benefits to the local people.

China will always be a reliable long-term partner of fellow developing countries and a doer and go-getter working for the cause of global development, Chinese President Xi Jinping said on Monday while delivering a speech during the first session of the 19th G20 Summit in Rio de Janeiro, Brazil.

“A single flower does not make spring. China wants to see a hundred flowers in full blossom and will go hand in hand with fellow developing countries toward modernization,” Xi said.

Aiding global poverty reduction

To date, China has lifted nearly 800 million of its people out of extreme poverty, meeting the poverty reduction target of the UN’s 2030 Agenda for Sustainable Development ahead of schedule.

To tackle poverty, China has made targeted policies tailored to each village, household, and person and facilitated growth by vigorously channeling talent, funds, and technologies to underdeveloped regions. It also helped localities generate growth by fostering industries with distinctive features and upgrading infrastructure, all based on their own conditions.

“If China can make it, other developing countries can make it too. This is what China’s battle against poverty says to the world,” Xi said.

While committed to eradicating poverty at home, China has collaborated with other countries to reduce poverty worldwide, fostering a global community with a shared future for mankind.

Advertisement

In Africa, China has set up and implemented 47 poverty reduction and agricultural projects, trained close to 9,000 agricultural personnel, shared over 300 advanced and applicable technologies, and benefited over 1 million smallholders under the poverty reduction and agricultural development program.

China also actively helps developing countries improve their infrastructure and strengthen connectivity, promoting local economic and social development.

According to a CGTN poll, 91.4 percent of respondents agree that China is a strong force in promoting the development, revitalization and shared prosperity of Global South countries.

There should be more bridges of cooperation and less “small yard, high fences” so that more and more developing countries will be better off and achieve modernization, Xi said at the summit.

China’s actions

Closely linking its own development with shared global development, China has always been an active advocate, staunch promoter and continuous contributor to global poverty reduction.

To boost South-South cooperation, China has upgraded the Global Development and South-South Cooperation Fund, increasing its capital to $4 billion. The total number of global development projects established has surpassed 1,000, with over 500 projects completed or currently in implementation.

Calling for moving toward modernization with fellow developing countries, Xi outlined China’s eight actions for global development, covering areas such as pursuing high-quality Belt and Road cooperation, supporting development in Africa, and supporting the G20 in carrying out practical cooperation for the benefit of the Global South.

Xi said the $20 billion in development funds will continue to be put to good use to support developing countries and deepen practical cooperation in areas such as poverty reduction, food security and the digital economy.

He said China has decided to join the Global Alliance Against Hunger and Poverty and voiced support for the G20 in continuing to convene the Development Ministerial Meeting.

Advertisement

Xi has also announced the decision to give all least developed countries with diplomatic relations with China zero-tariff treatment for 100 percent tariff lines. From now to 2030, China’s imports from other developing countries are likely to top $8 trillion.

https://news.cgtn.com/news/2024-11-19/How-China-contributes-to-global-poverty-reduction-modernization-drive-1yDMC7vlDLq/p.html 

View original content:https://www.prnewswire.co.uk/news-releases/cgtn-how-china-contributes-to-global-poverty-reduction-drives-modernization-with-developing-nations-302309266.html

The fintech landscape continues to evolve with groundbreaking developments reshaping the industry’s global footprint. Today’s briefing dives into key events across the fintech ecosystem, emphasizing regulatory advancements, regional expansion, investment inflows, and sustainability partnerships. These narratives offer a glimpse into the sector’s resilience and its relentless pursuit of innovation.

Doo Financial Secures CySEC License: Broadening Horizons

Source: PR Newswire

Doo Financial, a subsidiary of the Doo Group, has achieved a significant milestone by obtaining the Cyprus Securities and Exchange Commission (CySEC) license. This regulatory approval expands the group’s operational capacity across the European Economic Area (EEA), providing clients access to an increasingly diversified portfolio of financial services.

The CySEC license is not just a testament to Doo Financial’s commitment to compliance but also a strategic step towards enhancing its global competitiveness. This move underscores a broader trend among fintech firms to establish regulatory strongholds in regions with robust governance frameworks. Europe’s stringent yet adaptive regulations offer fintech companies a balanced environment to innovate while adhering to consumer protection laws.

The CySEC approval signals a broader ambition: leveraging the EEA as a launchpad for expanding into other regulated markets globally. For the fintech sector, this development highlights the importance of regulatory alignment in building investor confidence and fostering sustainable growth.

Quantoz Payments Ventures into Stablecoins

Source: PR Newswire

Dutch fintech company Quantoz Payments has taken a bold step into the burgeoning stablecoin market by issuing euro and US dollar-denominated stablecoins. Backed by prominent crypto asset firms, this initiative positions Quantoz as a key player in the stablecoin ecosystem, bridging the gap between traditional finance and digital currencies.

Stablecoins have long been hailed as the connective tissue between volatile cryptocurrencies and traditional fiat systems. Quantoz’s approach emphasizes compliance and transparency, addressing major concerns surrounding digital asset adoption. This development reflects a growing consensus within the industry: stablecoins are the linchpin of future financial systems.

Advertisement

Quantoz’s move also highlights the increasing involvement of traditional institutions in digital finance. Backing from established crypto asset firms signals confidence in the stability and utility of these digital tokens. The future may see stablecoins becoming integral to cross-border transactions, remittances, and even central bank digital currency (CBDC) initiatives.

Asia’s Fintech Giants Target Middle Eastern Markets

Source: Fortune

Two leading Asian fintech firms, StashAway and Thunes, are spearheading expansions into the Middle East, a region emerging as a hotspot for fintech innovation. StashAway, renowned for its wealth management solutions, and Thunes, a global payments platform, aim to capitalize on the Middle East’s growing demand for digital financial services.

This expansion is not without challenges. Middle Eastern markets, while lucrative, present regulatory complexities and stiff competition from local players. Yet, these firms bring unique value propositions. StashAway’s data-driven investment strategies and Thunes’ seamless payment networks could fill critical gaps in the region’s financial infrastructure.

This move also underscores the strategic importance of Middle Eastern economies in the global fintech narrative. Countries like the UAE and Saudi Arabia are investing heavily in digital transformation, making them fertile ground for innovative financial solutions. By establishing a presence here, Asian fintech firms are not only diversifying their portfolios but also setting the stage for long-term growth.

Ualá Secures $300 Million in Investment: Latin America’s Fintech Boom

Source: Latin Lawyer

Argentine fintech company Ualá has successfully raised $300 million in its latest funding round, reaffirming Latin America’s status as a global fintech powerhouse. The investment, led by international heavyweights, reflects growing confidence in the region’s financial technology ecosystem.

Ualá’s meteoric rise is emblematic of Latin America’s fintech narrative—a story of innovation fueled by necessity. With large segments of the population underbanked or unbanked, fintech solutions have become a lifeline, offering accessible and affordable financial services.

The $300 million infusion will enable Ualá to expand its product offerings and penetrate new markets, further solidifying its position as a regional leader. For investors, this marks an opportunity to tap into one of the world’s fastest-growing fintech markets, characterized by high adoption rates and a youthful, tech-savvy demographic.

FTS Money Partners with Nano to Advance Fintech Sustainability

Source: The Paypers

Advertisement

FTS Money’s partnership with Nano sets a new benchmark for sustainability in fintech. By integrating Nano’s technology, FTS aims to reduce its carbon footprint and drive environmentally conscious financial practices. This collaboration highlights a critical trend: the convergence of financial innovation and environmental responsibility.

Sustainability has become a cornerstone for fintech companies seeking to align with global ESG (environmental, social, and governance) goals. Partnerships like this not only enhance operational efficiency but also resonate with a growing segment of environmentally conscious consumers.

The fintech sector’s focus on sustainability reflects a broader shift in corporate priorities. Companies are increasingly recognizing that profitability and environmental stewardship are not mutually exclusive. By embedding sustainability into their operations, fintech firms like FTS Money and Nano are paving the way for a more responsible and resilient industry.

Conclusion: A Tapestry of Transformation

Today’s developments paint a vivid picture of an industry in flux—embracing regulation, exploring new markets, innovating with stablecoins, and championing sustainability. Each story underscores a central theme: fintech’s ability to adapt and thrive amid changing landscapes.

As fintech firms continue to evolve, their success will hinge on balancing innovation with responsibility. Whether through regulatory compliance, strategic expansions, or sustainable practices, the industry is charting a path toward a future that is inclusive, resilient, and transformative.

The post Fintech Pulse: Navigating Expansion, Innovation, and Sustainability appeared first on .

TORONTO, Nov. 18, 2024 /PRNewswire/ — Northstake A/S, the virtual asset service provider offering compliant staking products for institutions, has demonstrated a new staking model that allows asset managers to trade their ETH validators on a marketplace with industry-leading market makers, including GSR, Nonco, DV Chain and Keyrock.

Northstake’s ETH validator marketplace allows asset managers to trade ETH validators at a competitive liquidity premium compared to credit or liquid staking derivatives, helping to solve the industry challenge of contingent liquidity. The marketplace enables Northstake’s institutional clients to liquidate their ETH validator nodes in a matter of hours.

The first trade of a validator on Northstake’s ETH validator marketplace has been completed by 3iQ Corp, the Canadian investment fund manager which has been a front-runner in digital assets launching their first global 3iQ Ether Staking ETF (TSX: ETHQ) in 2023 and through Tetra Trust as a custodian.

Greg Benhaim, Executive Vice President for Products at 3iQ, said: “3iQ believes that by adding liquidity to our ETF validators, we can unlock the full return potential of ETH for our customers. With strong participation from market makers and sufficient liquidity depth, there’s an opportunity to stake the entirety of the ETF’s assets, maximizing its value. Northstake is currently the leading solution in addressing this need for ETFs.”

In solving persistent issues with contingent liquidity, Northstake will unlock ETH staking opportunities for its clients. Currently, only 28% (approx) of ETH’s total supply is being staked, representing missed opportunities for asset managers and investors, particularly those with spot ETH ETF positions. Northstake aims to enable ETH total return products and to become the backbone for an institutional-grade ETH total return token.

Jesper Johansen, CEO of Northstake A/S, said: “Our solution solves the contingent liquidity problem in a regulatory compliant way when staking ETH. This sets a new standard for how institutions should consider incorporating staking in their funds. The evidence and data we generate will provide a clear regulatory pathway for North American-based ETF issuers incorporating staking in their regulatory filings. Ultimately, our aim is to transform spot ETF into total return products”

This news follows the announcements of 3iQ, CoinFund, CoinDesk Indices, DV Chain, Nonco, Keyrock and GSR joining Northstake’s tokenized staking initiative earlier in 2024. Continuing its trajectory of strong growth, Northstake is now actively onboarding global ETF providers and market makers.

Jesper Johansen, CEO & Founder of Northstake, and Greg Benhaim, Executive Vice President for Products at 3iQ, are available for interviews. 

About Northstake A/S

Northstake A/S is a regulated, EU-based virtual asset service provider offering compliant staking products to institutions. Northstake has demonstrated a new staking model allowing institutional investors to trade Eth validators on a marketplace with industry-leading market markers. Northstake aims to build a tokenized Eth validator marketplace for institutions. Northstake A/S (VASP, FTID: 17520) is regulated under the Danish Financial Supervisory Authority (DFSA). To learn more visit www.northstake.dk

Advertisement

About 3iQ

Founded in 2012, 3iQ is one of the world’s leading digital asset investment fund managers, offering investors convenient and familiar investment products to gain exposure to digital assets. 3iQ was the first Canadian investment fund manager to offer public bitcoin investment funds: The Bitcoin Fund (TSX: QBTC) (TSX: QBTC.U) and the 3iQ Bitcoin ETF (TSX: BTCQ) (TSX: BTCQ.U), as well as public ether investment funds: The Ether Fund (TSX: QETH.UN) (TSX: QETH.U) and the 3iQ Ether Staking ETF (TSX: ETHQ) (TSX: ETHQ.U). To learn more about 3iQ, https://3iq.io/.

View original content:https://www.prnewswire.co.uk/news-releases/northstake-launches-eth-validator-marketplace-as-3iq-commits-to-stake-80-of-its-assets-unlocking-institutional-eth-total-returns-302304096.html