Fintech PR
Hong Kong’s homegrown WeLab Bank is now open to public
WeLab Bank (“WeLab Bank” or the “Bank”), a homegrown virtual bank licensed by the Hong Kong Monetary Authority (“HKMA”) publicly launches banking services to the millions of individuals in Hong Kong.
WeLab Bank is 100% digital, built for customers to enjoy a range of next generation digital services 24/7 from their mobile phones. In as fast as 5 minutes, customers can remotely open a WeLab Bank account with $0 monthly fees and start enjoying differentiated services such as time deposits with competitive rates, an interest-bearing deposit account with an instant virtual Debit Card, and real-time payments powered by Faster Payment System (FPS). To top it off, customers can also apply for a good-looking WeLab Debit Card, which is the first numberless card to publicly launch in the market, issued in collaboration with Mastercard. All these smart features are designed to help customers take control of their money and financial journey.
Adrian Tse, Chief Executive of WeLab Bank said, “The world has enough complexities and so we believe that managing your money should be simple and easy. Empowered by technologies built for the new normal, WeLab Bank was born from an initiative to reimagine the banking experience for the 7.5 million people of Hong Kong. We have efficiently built WeLab Bank from scratch, free from any legacies, with innovative features that proactively help you to take control of your financial journey. Everything you need to do can be done simply from your phone.”
GoSave: Hong Kong’s first flexible, socially-driven savings product
GoSave is Hong Kong’s first savings product that harnesses the power of the community. Customers can drive up the interest rate in a fun way with their family, friends, or the whole WeLab Bank community. More people joining GoSave means that customers can benefit from a higher interest rate of up to 4.5% p.a.[2]. As a demonstration of WeLab Bank’s commitment to promote financial inclusion, GoSave is differentiated from traditional time deposit products where higher interest rates are only reserved for large-amount deposits or select customers, whereas all GoSave users can start with as little as HKD10 – and have the flexibility to withdraw their funds at any time without additional fees[3].
Doing things differently with the first numberless Debit Card publicly launched in the market
WeLab’s good-looking numberless Debit Card is designed for all spending and cash needs of the customers. Take it to a physical store to make purchases, shop online or even use it to withdraw cash from any JETCO ATM in Hong Kong. Through our partnership with Mastercard, customers can gain access to millions of merchants globally, and even receive 8% cash rebate during the promotion period on their spending[1]. Most importantly, all card information can only be accessed securely from the WeLab Bank app. In just a few simple clicks, customers can conveniently access their bank account, view their Debit Card details, or easily report a lost card. Through instant notifications, we empower customers to be more financially aware of their activities. In the future, using big data analytics, we can reshape the way people engage with their bank and will continue to develop products and features that deliver value and delight to our customers.
Tse added, “We see the physical WeLab card as a medium that enables the customers to perform different activities. You can use it as a debit card to access the ATM today but this is just the beginning to unlock endless possibilities, where it may also become the access card to the office, gym, carpark or even a credit card, all combined into one. The real power happens behind the scenes from the technology that powers the app on the mobile phone – that is the real remote control of the future”
Harnessing the power of technology and delivering bank-grade security
WeLab Bank’s next-generation technology platform is built for the smartphone era. We take privacy seriously – deploying security features of the smartphones to protect our customers’ data, enhanced by adding smart technologies such as artificial intelligence and multi-factor authentication to give everyone an extra peace of mind. Like all banks in Hong Kong, WeLab Bank is regulated by the Hong Kong Monetary Authority and a member of the Deposit Protection Scheme, where eligible deposits taken by WeLab Bank are protected by the Scheme up to a limit of HKD500,000 per depositor.
Tse added: “As Hong Kong’s homegrown virtual bank, we continue to aspire to improve lives through game-changing technology and innovation, just like the WeLab Group has been doing for the last 7 years in Hong Kong. As we shake up spending and saving, we will soon launch tailored products such as loan offerings to help customers manage their financial needs more holistically.”
Fintech PR
CCTV+: From Silk Road Gateway to Global Innovation Hub: Xi’an Advances Industrial Upgrades and International Cooperation
XI’AN, China, Nov. 2, 2024 /PRNewswire/ — Xi’an, an ancient capital and starting point of the Silk Road, is growing rapidly into a cosmopolis of technological innovation, industrial transformation and international cooperation. The city is becoming a global hub for innovation and economic cooperation and a destination that converges historical heritage with modern creativity. By leveraging initiatives in New Quality Productivity, the Internet of Things, high-tech industries, culture, and international business services, Xi’an showcases its dynamic blend of past and future.
Industrial Development: Technology and Innovation Drive Emerging Industry Clusters
Aiming to establish itself as an international hub with rapid scientific and technological innovation, Xi’an is now building a comprehensive national science center and a center for science and technology innovation.
The Silk Road Technology City is now home to more than 4,000 companies and has fostered two major industry clusters, in optoelectronics and automobiles, each worth tens of billions. Leading industry giants like BYD and Samsung have established themselves here, taking advantage of Xi’an’s robust policy support for innovation-led growth. LONGi, a world leader in solar technology, is actively building Shaanxi’s 100-billion-grade silicon-based solar PV industry innovation cluster, driving industry-wide growth through R&D and supply chain expansion; while BYD’s comprehensive new energy vehicle industry chain has also positioned Xi’an as a key base for new energy technology and electric vehicles.
Belt and Road Hub: Connecting Development Across Borders
As a central hub along the Belt and Road, Xi’an recently hosted the Belt and Road Forum for International Think Tank Cooperation, fostering collaboration and advancing connected, networked development through the trans-Eurasian transport corridor. With growing trade opportunities, Xi’an is also expanding its reach into international markets, particularly in Central Asia, exporting specialty agricultural products like kiwi fruit.
Through conventions and conferences, Xi’an has demonstrated its significant potential for international economic cooperation, establishing stronger ties in Central Asia and Belt and Road countries.
New Quality Productivity: Smart Technologies and Advanced Manufacturing Fuel Growth
New Quality Productivity is driving Xi’an’s high-quality development leveraging smart technologies and intelligent manufacturing. Local enterprises like SUNNYIT are promoting innovative applications of IoT technologies to tackle industry bottlenecks, Xi’an Chinastar M&C Limited is supporting real-time urban management with products including smart manhole covers and parking monitoring systems to support urban safety and municipal services.
Industrial robots and intelligent manufacturing are also accelerating Xi’an’s industry transformation. Xi’an Aerospace Automation’s 4,000-kilogram robot, designed for warehouse logistics, highlights the city’s advancements in high-load, high-precision applications.
High-Quality Development: Digital Technology Empowers Xi’an’s Smart City Ambitions
Xi’an is progressing in smart city development, enabling companies to utilize big data and AI for comprehensive traffic analysis, enhancing traffic management efficiency, and establishing a “transportation+” multi-scenario service system to improve travel experiences.
Xi’an looks to cooperate with more companies and research institutions in fields of environmental protection, water-related affairs, education, and urban management with the goal of promoting technological breakthroughs in areas such as intelligent video analysis and large-scale AI models, empowering city management and services through digital technologies and support the development and innovation of companies in the city.
Opening Up to the World: Xi’an Shares Its Story and Strengthens Business Environment
The newly established Xi’an International Communication Center shares Xi’an’s story in multiple languages, promoting Chinese culture and positioning Xi’an as a major platform for cultural exchange. Additionally, a legal service center in Xi’an Chanba International Port now offers comprehensive legal support, fostering a fair and just international business environment.
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View original content:https://www.prnewswire.co.uk/news-releases/cctv-from-silk-road-gateway-to-global-innovation-hub-xian-advances-industrial-upgrades-and-international-cooperation-302294686.html
DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.
Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.
“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.
KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-shines-at-the-gateway-event-advocating-for-blockchain-innovation-through-ton-302294685.html
Fintech PR
UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT
SINGAPORE, Nov. 2, 2024 /PRNewswire/ — UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.
With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.
“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.
As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.
DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.
Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer
About DigiFT
DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg
For media enquiries, please contact [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/ubs-asset-management-launches-its-first-tokenised-money-market-fund-available-through-digift-302294683.html
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