Fintech PR
Mastercard partners with tonik, Philippines’ first digital-only neobank, to accelerate financial inclusion
Mastercard today announced a new partnership agreement with tonik, a two-year-old startup which recently received a bank license in the Philippines. Through this partnership, Mastercard will further enhance tonik’s market proposition by enabling the latter to issue a range of electronic payments products that taps into Mastercard’s global network and extensive business intelligence when tonik launches operationally later this year.
Internet penetration in the Philippines is at 67 percent[1], and one third of the population is millennials[2]—many of whom are digital natives. However, according to the 2017 Financial Inclusion Survey by Bangko Sentral ng Pilipinas (BSP), over 70 percent of the country’s population is unbanked[3]. At the same time, 60 percent of Filipinos who are either in the formal banking system or can become part or the system, are willing to use offerings that are digitally focused[4]. Achieving financial inclusion by leveraging financial technology has been top on the agenda for Bangko Sentral ng Pilipinas, which has set the goal of doubling the number of Filipinos with formal bank accounts by 2023[5].
Driving digital financial inclusion and expanding access to formal financial services for the unserved and underserved population is one of the cornerstones of tonik’s proposition. As a mobile-only digital bank, tonik is able to develop highly customized, scalable banking solutions that fit the needs of a customer base that is incredibly diverse, ranging from people who are just making their first forays into the formal banking system, through to customers who have held accounts and used financial products for most of their adult lives. Because of its digital-first approach, tonik is well placed to meet consumers’ needs and demands irrespective of where they live, work and do business.
“We want to empower the underserved and unserved Filipinos by giving them simple, accessible, and fast digital banking experiences. We want our customers to easily gain familiarity with transacting and banking digitally in order to help them harness the full potential of the rapidly changing digital economy. Our partnership with Mastercard is about injecting more speed, scale, and performance into all facets of our business. Having immediate access to Mastercard’s global payment network, safety & security technology, data and analytics services, AI technology, and cybersecurity capabilities will be essential to tonik’s growth and success in today’s digital-first reality,” said Greg Krasnov, CEO & Founder, tonik.
Orchestrating this partnership is Mastercard Fintech Express, a tailored program which provides fintechs such as tonik with increased speed-to-market, access to a suite of digital-first products, and a cross functional team of experts to provide strategic counsel and advisory across product, partnerships, licensing and legal to be able to successfully build their offerings.
“The entire payments ecosystem thrives when fintechs have access to the technology they need to reach scale and make finances widely accessible. tonik exemplifies an agile and innovative fintech whose ambition of driving financial inclusion in the Philippines through digital-first products and seamless consumer experiences is closely aligned with Mastercard’s mission to connect and power an inclusive, digital economy that benefits everyone. tonik’s ability to secure a bank license as a startup is nothing short of exceptional and Mastercard is delighted to partner with them to enhance the Philippines’ digital banking space and to boost the nation’s financial inclusion journey,” said Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard.
tonik will launch with a full range of banking services including a transactional savings account with a debit card, savings and term deposit accounts with attractive interest rates, as well as a range of consumer loans in Q3 2020. Debit Mastercard cards will be available to customers at the end of the year and will allow customers to transact and withdraw cash from everywhere Mastercard is accepted. Additional services such as loans, credit cards, and fund transfer categories will be made available in the course of 2021.
VILNIUS, Lithuania, Nov. 1, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the official launch of Legend of Arcadia‘s ARCA token on the BingX launchpool. This highly anticipated event brings a robust reward pool of 800,000 ARCA, inviting users to stake with USDT and BTC in a campaign that combines accessibility for new users with compelling earning potential for all.
Legend of Arcadia (LOA) is a card-based RPG game built on a vast story universe inspired by Kingdom Hearts. LOA is built with the latest technology for the modern gamer, powered by blockchain. This ARCA Launchpool campaign will run for a limited time and participants will have the chance to join three staking pools, one of which is an exclusive newcomer pool for USDT, featuring a capped staking limit of 2,000 USDT and offering 35% of the total reward pool. There is also an additional USDT pool and BTC pool, open to all users. To further amplify rewards, users can participate in an ARCA staking event, maximizing opportunities for participants during this limited-time campaign.
Vivien Lin, Chief Product Officer of BingX, highlighted this launch as an exciting addition to BingX’s expanding GameFi offerings. “The ARCA launch on BingX Launchpool introduces our community to an immersive GameFi experience, where blockchain rewards meet engaging gameplay,” Lin remarked. “The game showcases the type of high-value, innovative GameFi projects we would like to support. We are glad to see a new attempt for sustainable web3 gaming.”
BingX Launchpool offers a user-friendly design for a seamless staking experience, featuring flexible staking and withdrawal options that let users deposit or withdraw assets anytime during the campaign. Rewards are automatically calculated hourly and distributed directly to users’ accounts, with all assets returned upon the campaign’s end. This streamlined process makes staking with BingX Launchpool simple and efficient from start to finish.
BingX Launchpool’s introduction of the ARCA token serves as a bridge, connecting innovative project teams like Legend of Arcadia with a global user base eager for fresh opportunities in the GameFi space. By offering a platform that amplifies visibility and engagement, BingX empowers projects to reach new audiences while enabling users to participate in blockchain-driven experiences. This collaboration highlights BingX’s dedication to enriching its ecosystem, delivering added value to users, and supporting the ongoing evolution of Web3 gaming.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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View original content:https://www.prnewswire.co.uk/news-releases/bingx-launchpool-lists-legend-of-arcadias-arca-token-with-new-staking-pools-302294221.html
DUBLIN, Nov. 1, 2024 /PRNewswire/ — Aon plc (NYSE: AON), a leading global professional services firm, today announced the signing of a definitive agreement to acquire UK-based insurance broker Griffiths & Armour. Upon completion of the transaction, Griffiths & Armour will become wholly-owned by Aon UK Limited and is proposed to go to market as “Griffiths & Armour, an Aon company”.
The acquisition closely aligns with Aon’s strategy to further expand its presence in the UK and Ireland. The combination will provide a greater breadth of solutions for clients across both Aon and Griffiths & Armour with complementary strengths that create a platform for further growth in the UK, Ireland and beyond. Together, Aon and Griffiths & Armour share a strong cultural alignment through an unwavering focus on clients and colleagues.
“As we continue to go further, faster to help our clients navigate growing uncertainty and volatility, we are looking forward to welcoming Griffiths & Armour to Aon,” said Greg Case, CEO of Aon. “Our complementary capabilities and cultures will create unmatched client and colleague experiences across the UK and Ireland and contribute to our global 3×3 Plan to accelerate our Aon United strategy.”
Griffiths & Armour has established a market-leading presence from their base in the north of England as well as a strong national and international reputation. With around 200 employees, Griffiths & Armour are known for their specialist expertise in professional indemnity insurance and strength in general insurance broking. As part of the acquisition, Aon is committed to Griffiths & Armour’s Liverpool office at Princes Dock and its strong team in Liverpool, Manchester, Dublin and London.
Carl Evans, CEO of Professional Risks for Griffiths & Armour, commented; “Becoming part of the Aon family is the result of a meticulous search for a trusted partner with whom we can work, to ensure the future success of Griffiths & Armour and to enable us to enhance, grow and expand our unique client proposition. This proposition is founded on a culture that has been created and refined over the last 90 years, of which we are immensely proud.”
Matt Donnelly, CEO of General Insurance for Griffiths & Armour, added; “We have long-regarded Aon for its professionalism and client service excellence. In them we have found a partner who will not only help deliver continued growth, but also preserve and embrace the culture that we and our client community hold dear. We very much look forward to this next chapter.”
“Griffiths & Armour is a brilliant business and will bring quality, expertise and an exceptional platform for growth to our firm,” said Jane Kielty, UK CEO at Aon. “We’re very excited to work with the leadership team to deliver the fantastic results for clients and colleagues that we passionately believe will be created by joining together.”
Closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to occur in the first quarter of 2025. Aon and Griffiths & Armour will continue to operate independently until the closing date.
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.
About Griffiths & Armour
Griffiths & Armour are a consulting insurance broker providing clarity and protection for business leaders. We exist to make our clients’ worlds less complicated by minimising risk. We work across a range of sectors by combining deep market insight, long-term relationships, and end-to-end support to manage and minimise professional and business risk, as well as offering private client support to protect individuals’ most important personal assets.
Media Contacts
Aon
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Toll-free (U.S., Canada and Puerto Rico): +1 833 751 8114
International: +1 312 381 3024
Griffiths & Armour
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View original content:https://www.prnewswire.co.uk/news-releases/aon-to-acquire-uk-based-insurance-broker-griffiths–armour-302294142.html
Fintech PR
Bybit Protects First-Time Copy Traders Against Potential Fiat Losses in Limited-Time Offer
DUBAI, UAE, Nov. 1, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has introduced new fiat protection for trading novices to counter potential market risks. First-time depositors may enroll to protect their investment in Bybit’s Fiat Loss Coverage Frenzy campaign this season.
From now to Dec. 1, 2024, Bybit is offering up to 100 USDT in Fiat Loss Coverage Vouchers (“the Voucher”) for as little as 100 USDT in first-time trading. Users making a first-time deposit and lured by the power of Copy Trading may sign up for the exclusive event for a confidence boost as well as potential capital protection.
The generous offer is available for eligible users only and the number of Vouchers is limited. Users may follow three simple steps to seize an opportunity to minimize their risk of asset devaluation:
- Deposit: Users making a first-time deposit of at least 100 USDT in any currency via Bybit P2P, Fiat Deposit or One-Click Buy
- Claim the Voucher: Access the “Claim” button at the Bybit Copy Trading page for up to 100 USDT in Fiat loss coverage
- Explore Copy Trading: Choose the first Master Trader wisely and execute the first copy trade in the amount of at least 100 USDT in either Smart Copy Mode or Advanced Copy Mode. Should the trade result in a loss, holders of the Voucher will be reimbursed up to the Voucher value.
Fiat and crypto solutions on Bybit come with copious benefits and rewards, including innovative mechanisms to enhance Bybit’s protection of users’ interests. The exchange is also trusted for its deep liquidity and tried-and-tested reliability, 24/7 customer support, and diversity of products and solutions.
“Investing comes with risks, and for retail investors starting to diversify into crypto, we’ve got their back. This campaign is a gesture of support and an invitation into the world of digital assets for new users, and Bybit serves to take away some of the stress for a better trading experience,” said Joan Han, Sales and Marketing Director at Bybit. “I hope it offers extra protection for new traders as they embark on their journey,” she added.
Visit Bybit Fiat and explore Bybit Copy Trade for more information, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-protects-first-time-copy-traders-against-potential-fiat-losses-in-limited-time-offer-302294028.html
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