Fintech PR
FinTech Abu Dhabi Festival Culminates With Focus on the Next Generation
Future trends in the FinTech industry and the next generation of start-ups took centre stage as FinTech Abu Dhabi Festival, organised by Abu Dhabi Global Market and powered by Unbound, drew to a close today.
Held under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council, FinTech Abu Dhabi attracted 5,000 registrations and brought together world-class business leaders, a blessing of successful unicorns and FinTech innovators.
Start-ups RISQ and Jibrel Network were announced as the two winners of the FinTech Abu Dhabi Innovation Challenge and took home a “Proof of Concepts” grant of up to SGD 200,000 (AED 540,000) each and the opportunity to attend Singapore FinTech Festival in November.
The final day of FinTech Abu Dhabi began with the official ringing of the bell by His Excellency Khalifa Salem Al Mansouri, Acting Chief Executive Officer of ADX, signalling the start of trading at the Abu Dhabi Securities Exchange.
China’s Belt and Road Initiative and its impact on the UAE
Dia Haykal, Editor-in-Chief of MiT Technology Review explained at the panel ‘Follow the One Belt Road (BRI): Unpacking the Impact China Will Have On MENA’ how the UAE will benefit from BRI, with trade between the nations reaching US$33 billion in 2018.
The panelists at the session discussed how China’s Belt and Road Initiative (BRI) is providing US$8 trillion of infrastructure investment to 65 countries. Richard Teng, CEO ADGM Financial Services Regulatory Authority (UAE), said China’s relationship with the UAE is blossoming.
“The relationship has never been stronger with strategic ties on all levels,” said Mr Teng. “UAE is China’s top investment destination in the region with bilateral trade expected to reach US$70 billion.”
Evolving trends in the FinTech ecosystem
Omar Christidis, Founder and CEO of ArabNet, discussed how different regulations and an unwillingness to share client data by banks are among the hurdles facing FinTech firms.
“Talent and upscaling initiatives in Abu Dhabi and Dubai are training the next generation,” said Mr Christidis. “However, the sector is held back by different regulations in different countries.
“Entities such as GFIN (Global Financial Innovation Network) are trying to harmonise regulations across countries so FinTechs can move quickly from market to market. Dubai, Abu Dhabi and Bahrain are part of GFIN, which shows how important these markets are.”
Open Banking that allows FinTechs to access a client’s bank details to build services, is another area where companies are facing issues with many banks not sharing key information.
“Bahrain is the only place that has mandated open banking by the banks, but it needs to happen elsewhere.”
Realising the potential of Crypto and digital money
Zeeshan Feroz, CEO of Coinbase UK and Steve Kirsch, CEO of Token, explained why there is a bright future for digital currency.
Speaking in a session moderated by Elizabeth Schulze, Technology Correspondent for CNBC, Zeeshan said: “We are going through a pioneering shift on what a bank account is. I think in a few years’ time, a crypto account will be the account where your salary will be paid into and spend from. It will do everything that a normal bank account does because crypto is a currency that will have value.”
Addressing the audience during his keynote speech, Steve Kirsch said digital money will totally transform the banking industry in the future. He said: “I think the way forward, using digital currency is going to be inevitable. This will be a rare opportunity for banks to unite and gain competitive advantage and defend against existential threats.”
Moving from oil to a knowledge economy
Mark Curtis, CFO at ADNOC, explained how social innovation will empower the UAE’s move from oil to a knowledge economy.
“Schools should have more internships and pilot new ideas. Society has to get comfortable with making mistakes and moving on to create meaningful change,” said Mr Curtis. The panel discussion, titled Growing a Knowledge Economy in the UAE, heard how ‘data is the new oil’.
Mohamad Elewa, Partner at Grant Thornton, said: “Fluctuations in the oil price show the UAE was right to drive another stream of venue through the growth of a knowledge and skills-based economy.
“Global economies are shifting and changing, so by laying solid foundations now at schools, colleges and start-ups we will see the benefits in 10-20 years.”
Youth-Circle – Empowering the UAE’s youth to embrace opportunities
More than 80 students and young professionals gathered to learn and discuss how they can play a key role in the future of FinTech and how to achieve success.
Alexander Graubner-Mueller, Founder of Kreditech, said the best time to start a business is when you are young, allowing you to enhance your skillset and knowledge.
The panel heard from H.E. Khalifa Salem Al Mansouri, Acting CEO – Abu Dhabi Securities Exchange (ADX) who emphasized the importance of research and being motivated. He said: “You have to understand the landscape and know your competitors and leverage on your strengths.”
Youngsters also heard from Her Excellency Salama Al Ameemi, Director-General of Ma’an, on how the growing social entrepreneurship sector is flourishing in Abu Dhabi. She highlighted the success of the inaugural Ma’an Social Incubator programme and invited the participants to apply for the next cycle.
“At Ma’an, we believe social entrepreneurship is the key to unlocking many of the solutions to common social challenges,” said H.E. Al Ameemi.
“The Ma’an Social Incubator, the first in the region, was initially launched in May and received 531 registered interests worldwide and 131 ventures applied from different parts of the world.
“Through this programme, Ma’an brings together innovation, entrepreneurship and social impact with business development expertise to grow new social enterprises in Abu Dhabi.”
Top prizes for innovation
The achievements of 10 aspiring entrepreneurs and professionals for their innovative ideas and initiatives were also recognised during the FinTech Abu Dhabi Awards. Each applicant was judged by an expert panel of global FinTech luminaries on their innovation, impact and influence.
Among those to receive the awards in front of hundreds of delegates was Ambareen Musa. The Founder of Souqalmal won two awards – FinTech Leader and FinTech Woman of the Year.
Ian Dillon, Co-founder at Now Money, was awarded the UAE FinTech Founder accolade, while Invoice Bazaar (MENA FinTech of the Year), Shorooq VC Partners Ltd (FinTech Investors), and Hardik Bhatia, Founder at SolarGridX Ltd (Emerging FinTech Talent) also claimed awards.
Mayasoft LLC (Emerging Markets FinTech), Startupbootcamp Fintech Cairo (Fin Tech Accelator), Bahrain Fintech Bay (FinTech Corporate Innovation Programme) and Wahed Invest LLC (Islamic Fintech of the Year) were the other winners.
Aiding Abu Dhabi’s transformation
“Fintech Abu Dhabi is one of the most prominent events in the emirate,” said Rashid Abdul Karim Al Balooshi, Acting Undersecretary of Abu Dhabi Department of Economic Development.
“The event offers solutions capable of transforming Abu Dhabi’s financial services sector, which accounts for 14.3 per cent of Abu Dhabi’s non-oil (GDP), and is a prime engine of future growth.
“Abu Dhabi’s financial and insurance sector saw bank licenses rise to 2,390 and insurance activity licenses reach 318, which reflects the strength of the local economy.
“The government also recently launched the unified AED 520 million ‘HUB71 Platform,’ a flagship initiative of the AED 50 billion economic accelerator program,” said Mr Al Balooshi.
SOURCE Abu Dhabi Global Market
HAMILTON, Bermuda, Dec. 19, 2024 /PRNewswire/ — FXGiants has recently launched a series of exciting bonuses. Participants on the FXGiants‘ online trading platform can now amplify their trading potential with a broad spectrum of bonuses that are tailored to fit different trading needs. These bonuses not only add extra value but also act as a safety net for traders to explore the financial markets without risking too much.
“Our goal with these deposit bonus options is to empower traders of all levels,” said Christopher Oates, the spokesperson for FXGiants. “Under this scheme, we have diverse categories, including Bonus Maximiser, Booster Bonus, and the Bonus Advantage. These bonuses are designed to provide flexibility to clients as they trade on the FXGiants online trading platform.”
Exploring the FXGiants Bonus Options
The bonus options at FXGiants come with versatile advantages. The Bonus Maximiser provides a full 100% boost on all deposits without limit, whereas the Booster Bonus offers a 40% bonus on all deposits up to $4,000 for traders who want to moderately enhance their capital. On the other hand, the Bonus Advantage provides a 60% bonus on deposits up to $5,000, giving traders a better handle on risk. These bonuses enhance the trading experience on the FXGiants online trading platform.
“At FXGiants, we are committed to a trading environment that meets the evolving needs of our clients,” Oates added. “Our online trading platform is a robust ecosystem designed to support traders with advanced execution, extensive market insights, and continuous improvements. As we move forward, we will keep expanding our offerings to ensure that traders have access to the best resources and support.”
About FXGiants
FXGiants stands out as an international broker providing access to over 300 financial instruments across 6 asset classes. Traders can operate through the popular MetaTrader 4 platform, and benefit from exceptional trading conditions such as competitive spreads, flexible leverage, and fast execution. With deposit boosters, partnership programs, an educational blog, and account types tailored to both novice and experienced traders, FXGiants remains dedicated to delivering a one-stop trading solution.
Terms & Conditions apply. Bonus cannot be withdrawn.
All trading involves risk. It is possible to lose all your capital.
FXGiants is a trade name of Notesco Int Limited; a company incorporated in Anguilla with registration number A000001800 and registered address The Valley, AI2640, Cosely Drive, 1338, AI.
Website: https://www.fxgiants.com/
View original content:https://www.prnewswire.co.uk/news-releases/fxgiants-online-trading-platform-launches-bonus-initiative-to-reward-traders-302338463.html
BEIJING, Dec. 23, 2024 /PRNewswire/ — Cheung Kong Graduate School of Business (CKGSB) successfully hosted the Western China MBA Professor Training Program in collaboration with the China National MBA Education Supervisory Committee and Shantou University School of Business on December 17 and 18, 2024. 58 professors from over 40 universities in China nationwide, mostly western China, attended this training.
Since 2007, CKGSB has been aspiring to address the pressing disparities in management education between eastern and western China with its MBA professor training program. As of 2024, the program has trained 372 professors from 155 universities across 22 provinces, 4 autonomous regions, 3 direct-administered municipality in China, indirectly impacting tens of thousands of MBA students.
This year, the training focused on social innovation and business for good, a topic many participating professors found lacking in their day-to-day teaching and research. Professor ZHU Rui (Juliet), CKGSB Professor of Marketing and Director of the ESG and Social Innovation Center, led the training. She introduced how CKGSB has been innovating with the integration of business for good in management education, and how our relevant practice-based course has already helped 2,800+ students integrate ESG into their businesses. Professor Zhu also hosted an interactive workshop with the training’s participants on how they may build this idea into their teaching.
Participants shared in their post-program survey that Professor Zhu’s teaching and her ESG Assessment map gave them a new perspective on how to balance profits and social responsibilities. Many also felt inspired on how to bridge the gap between research and practice.
Recognized in CKGSB’s 2022 and 2024 ESG and Social Innovation Reports and honored as a finalist for the 2021 China Social Impact Award by the United Nations and British Chamber of Commerce, this program exemplifies CKGSB’s impact in this critical area. Through partnerships with the government, NGOs, and business schools, this initiative has made significant progress in promoting quality education and reducing inequalities.
For more information on CKGSB’s ESG and social innovation efforts, visit our ESG and social innovation website.
About CKGSB
Established in Beijing in November 2002, CKGSB is China’s first privately-funded and research-driven business school. The school aims to cultivate transformative business leaders with a global vision, sense of social responsibility, innovative mindset, and ability to lead with empathy and compassion (https://english.ckgsb.edu.cn).
View original content:https://www.prnewswire.co.uk/news-releases/ckgsb-successfully-hosts-2024-mba-professor-training-program-for-western-china-302338458.html
VADUZ, Liechtenstein, Dec. 23, 2024 /PRNewswire/ — Wirex, a global leader in bridging traditional and digital finance, has announced the addition of VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to its platform. With this integration, Wirex users can now spend VEUR and VCHF directly through their Wirex cards, streamlining everyday transactions and enhancing convenience.
Wirex cards allow users to use VEUR and VCHF in various ways. Whether users receive payments in VEUR and/or VCHF, use them for remittances (including cross-border transactions), or sell digital assets for stablecoins instead of fiat, Wirex provides the simplest solution for spending in real life. Users can instantly convert their stablecoins into fiat currency and send them directly to their bank accounts, catering to those who prefer traditional banking options.
Pavel Matveev, Co-founder of Wirex, said: “We’re excited to welcome VNX Euro (VEUR) and VNX Swiss Franc (VCHF) to Wirex. This addition allows our users to effortlessly spend stablecoins in real life, whether for daily purchases, remittances, or managing their digital assets. At Wirex, our goal is to make digital currencies as convenient and versatile as traditional money, and VEUR and VCHF are another step toward achieving that vision.”
Future Features
Additional features will be rolled out later after the launch, complementing the immediate benefits of VEUR and VCHF. These include loans and high-yield X-Accounts, both of which are growing in popularity among Wirex users. Loans offer a smart and tax-efficient way to access liquidity without selling underlying digital assets. Users can leverage their BTC, ETH, SOL, and other digital assets, as collateral for loans in stablecoins, allowing them to benefit from potential appreciation while accessing funds without triggering taxable events.
X-Accounts provide an opportunity for users to earn industry-leading yields of up to 15% APY on their stablecoin balances, enhancing the overall value proposition of holding VEUR and VCHF within the Wirex ecosystem.
Upcoming Advanced Opportunities
VEUR and VCHF have the potential to become preferred options in Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Notably, Euro-backed stablecoins have already demonstrated significantly higher usage among Wirex users than larger USD alternatives, highlighting strong demand for Euro-denominated trading options.
As Wirex explores adding VEUR and VCHF to these products, it aims to further strengthen its position as a leader in digital finance by offering innovative solutions that bridge the gap between traditional finance and digital assets.
Disclaimer: The term “stablecoin” is used herein in relation to VEUR and VCHF for marketing purposes. The reader however shall understand that VEUR and VCHF are fiat-referenced tokens which are described in more detail in the VNX Gold based Fiat Referenced Tokens (FRT) Terms and Conditions which are available for review at www.vnx.li
About VEUR and VCHF
Both VEUR and VCHF are multichain tokens referencing the Euro and Swiss Franc, developed by VNX, generated by a licensed token generator under the Blockchain Act in Liechtenstein. VEUR and VCHF are supported by the reserves ensuring 1:1 parity and represent a reliable digital asset in the crypto world. These tokens combine the stability of fiat currencies with the convenience of crypto, enabling quick, low-cost, and 24/7 accessible cross-border payments while opening new opportunities in DeFi.
About Wirex
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
Photo: https://mma.prnewswire.com/media/2586836/Wirex_VEUR_VCHF.jpg
Logo: https://mma.prnewswire.com/media/2031625/5077408/Wirex_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wirex-adds-veur-and-vchf-stablecoins-to-its-platform-for-seamless-spending-302338369.html
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