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Bank of Asia’s Founder and Chairman Carson Wen Shares Growth Plans as the Bank Marks its Second Anniversary

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It was two years ago in July that Bank of Asia officially launched in the British Virgin Islands (BVI) after being granted the banking licence by the British Virgin Islands Financial Services Commission. As the BVI’s first and only bank serving global customers via digital devices, the mission since then has remained simple — to help transform the banking landscape.

Reflecting on the journey of building Bank of Asia and looking forward, the Founder and Chairman Carson Wen, shared his thoughts on the milestones to date and the plans for future growth:

We believed since the very beginning that through high-quality and technologically advanced banking solutions delivered via a digital platform, we can change the way people bank in a global setting. This benefits clients with more cost-effective, user-friendly services that are secured through robust multi-layered Know Your Customer (KYC) and Anti Money Laundering (AML) processes.

While digitalised banking has evolved significantly since we first started, with many new competitors entering the space, there is still significant headway to be made for the industry to reach its full potential.

Being domiciled in the BVI, one of our primary focuses to date has been to enable the more than 400,000 entities registered in the BVI, many of which have been unable to open an account, to access cost-effective, efficient, innovative and user-friendly banking services.

Our growing client list has included offshore companies and their owners as well as high-net-worth individuals and their families from around the world, with a focus on those in Asia. By operating with a fully digital platform, this means these customers can access our services anywhere in the world, at any time 24/7, and using any device.

Earlier this year in April we also launched BOA Pay, a new payment channel to enable the bank to onboard clients faster without mandatory face-to-face interviews, while still being highly secure. Since we have introduced this, our customer base has increased by many folds.

To ensure a world-class offering, we have partnered with leading service and technology partners along the way including Oracle, VnB Core Banking System, Avaloq, Amazon Web Services, Refinitiv, SWIFT, ICBC, and SAS, and we will cherish them as partners in the BOA journey.

It has also been a privilege for me personally to work very closely with the BVI Government and Financial Services Commission. Without their progressive vision to encourage FinTech innovation in the BVI, our achievements to date would not have been possible.

Despite the mammoth task of setting up the bank, our close business partner, BOA International Financial Group, through its extensive network of affiliates and partners is providing investment, wealth management advisory and lifestyle services for our customers in Hong Kong and globally. Similarly, this business is going from strength-to-strength.

So, what is next for Bank of Asia?

We certainly have no intentions to slow down. Building on the hugely successful launch of BOA Pay, we are currently in the process of developing this into a fully-fledged e-Payment and e-Wallet service. By the end of this year we plan to expand this offering to our clients.

Additionally, we are pursuing new banking licences which will enable us to further expand, including a General Banking Licence for the BVI, which will enable us to provide services to the local BVI population.

While we live in the uncertain times of trade tensions, political change, and the COVID-19 pandemic presently wreaking its havoc on the international economy, we see a bright future for Bank of Asia. Most of our customers are based across Asia and the long term forecast for wealth creation in the region remains strong. Also, we see a growing appetite for digitalised banking services as its benefits are realised in our increasingly cashless society and a globalised economy, galvanised by fintech. These factors and others will continue to enable the right environment for Bank of Asia to flourish.

As we celebrate our second anniversary, I look forward to continuing to work with our fantastic leadership team to realise Bank of Asia’s vision and drive product and service innovation for our clients.

Fintech PR

Innocan Pharma Reports Q3 2023 Results Including US$3.334M Increase in Revenues Compared to Q3, 2022

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  • US$4.083M Revenues for Q3 2023 compared to US$749,000 for Q3 2022, representing an increase of 445%
  • US$3.664M Gross Profit for Q3 2023 compared to USD 715,000 for Q3 2022, representing an increase of approximately 412%

HERZLIYA, Israel and CALGARY, Alberta, Nov. 29, 2023 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the “Company” or “Innocan”), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies and owner of a proprietary intellectual property portfolio, is pleased to announce its financial results for the three and nine months period ended September 30, 2023.

 

“We are thrilled with the significant growth we achieved in the third quarter,” says Iris Bincovich, CEO of Innocan. “Our strategic focus on the midterm-goal of FDA approvals for our LPT-CBD-loaded liposome platform, alongside the robust sales from our subsidiary, B.I. Sky Global Ltd., have significantly contributed to this increase in both revenue and gross profit. We remain committed to our vision and are optimistic about the future.”

Financial highlights for the third quarter of 2023:

  • Revenue: The Company posted US$4.083M in revenue for the three months ended September 30, 2023, marking an increase of US$3.334M compared to the three months ended September 30, 2022. This surge in revenue is primarily attributable to the robust sales performance of Innocan’s subsidiary, B.I. Sky Global Ltd.
  • Gross Profit: For the three months ended September 30, 2023, the Company reported a gross profit of US$3.664M, compared to US$715,000 for the three months ended September 30, 2022, representing an increase of US$2.949M.
  • Cash Balance: As of September 30, 2023, the Company’s cash balance was US$4.024M.

For a comprehensive understanding of Innocan’s consolidated financial statements and related management’s discussion and analysis for the three and nine months period ended September 30, 2023, please visit the Company’s profile at www.sedarplus.ca.

About Innocan

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Chronic Pain Management and Epilepsy and Pain Management. (ii) CLX CBD-loaded exosomes platform that may hold the potential to provide a highly synergistic effect of regenerating and anti-inflammatory properties targeting the Central Nervous System (CNS). In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

For further information, please contact:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1-516-210-4025
+972-54-3012842
+442037699377
[email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company’s products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

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7th Edition of Fintech Abu Dhabi Explores Synergy Between Finance and Technology

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ABU DHABI, United Arab Emirates, Nov. 29, 2023 /PRNewswire/ — Building upon the successes of MENA’s biggest Fintech Festival presented by Abu Dhabi Global Market (ADGM), the 7th edition of Fintech Abu Dhabi welcomed an impressive turnout of financial tech leaders and visionaries converging from across the globe today. This included those leading innovation in major financial institutions, startups, innovators, entrepreneurs, venture capitalists, scientists and academics, solidifying Abu Dhabi’s position as a forward-thinking innovation and tech hub.

 

 

ADGM’s flagship event, Fintech Abu Dhabi, conducted in partnership with Huawei continued to be a highlight of Abu Dhabi Finance Week (ADFW) this year, focusing on the central theme of the event – ‘The Convergence of Finance and Technology’. The event kicked off with a lively debate on the financial crime economy and brought together prominent AI institutions in Abu Dhabi to discuss the city’s early commitment to AI. Participants also delved into the maturity of the crypto industry. Dr. Alexander Lipton, Global Head of Research & Development at ADIA provided insights on how social media is reshaping the global banking landscape, while the CEO of Circle outlined strategies for harnessing digital assets to enhance global financial stability. Other interesting sessions today included ‘Decoding a “Skandal” – Inside Wirecard’s Investigation discussed by Financial Times Investigative Reporter – Dan McCrum and Themis Founder and CEO – Dickon Johnston and ‘Finding an Entrepreneurial Mindset with VaynerX Chairman and CEO – Gary Vaynerchuk.

One-of-a-kind forums featured during Fintech Abu Dhabi included Blockchain, AI and Risk & Security. Blockchain Abu Dhabi presented in partnership with Circle discussed topics such as the quest to design stability for digital money, digital currencies of Central Banks improving digital asset infrastructure and the overall impact of blockchain and Web3 on the financial industry. AI Abu Dhabi was conducted in collaboration with Mastercard while Risk 4.0 was conducted in association with the Executive Council for Anti-Money Laundering and Counter Terrorism Financing.

During the event, ADGM – in collaboration with its partners, unveiled initiatives to redefine regulatory practices. The Financial Services Regulatory Authority (FSRA) outlined its “Regulation as a Service” strategy through its Digital Lab, aimed at co-creating innovative solutions for the licensing and supervision of firms. Noteworthy collaborations of the FSRA with the National University of Singapore announced aims to develop an AI-powered assessment tool for virtual asset service providers seeking licensing in ADGM.

In its efforts for continuous improvement, the FSRA announced soliciting feedback on a discussion paper related to information technology (IT) risk management to enhance firms’ operational resilience. Furthermore, fostering innovation in Decentralised Finance (DeFi), the FSRA unveiled a collaboration with Coinbase Asset Management and Neoply and also nudged towards a DeFi consultation paper slated for publication in 2024, alongside enhancements to the existing regulatory framework.

Linda Fitz-Alan Registrar and Chief Executive at ADGM Courts said, “In its staggering 7th edition, Fintech Abu Dhabi started as a pioneer, awakening our imagination, guiding the disruption of our norms and making innovation our constant. This is no longer an annual event; this is a pivotal marker to test the temperature and tap into the thoughts of global leaders in financial technology.  The insightful discussions at Fintech Abu Dhabi do not just shape the future of the fintech landscape, but also create its landscape while opening our minds to the endless possibilities for the future of the financial sector.”

Furthermore, major announcements by global companies such as GQG Partners (GQG) an independent asset management firm with more than USD 100 billion in AUM and Offset8, a proprietary asset management firm specialising in the global verified carbon credits (VCC) market announced receiving an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the ADGM. IOTA, the open public goods infrastructure ushering in digital asset innovation, announced its registration as the first company to be registered under the DLT Foundations Regulations of ADGM.

MEVCA and New York and Singapore headquartered-GPCA announced a partnership that will see GPCA establish a permanent presence in the Middle East, with the support of MEVCA.

The Global Financial Regulators Summit, a closed-door gathering of key global financial regulatory leaders was conducted parallel to Fintech Abu Dhabi and discussed the role regulators play in shaping the sustainable finance landscape of the future. The outcomes of the summit will be announced tomorrow during the R.A.C.E (Regulation, Awareness, Collaboration & Ecosystem) Sustainability Summit.

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Shy Datika, CEO of The INX Digital Company, Inc., Announces Further Share Acquisition

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NEW YORK and TORONTO, Nov. 29, 2023 /PRNewswire/ — Shy Datika, Chief Executive Officer of The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) (“INX” or the “Company“), announces that he has acquired, indirectly through Triple-V (1999) Ltd., ownership of 12,500 common shares of the Company (the “Common Shares“) at a price of CAD$0.185 per Common Share on November 16, 2023 (the “Acquisition“) through facilities of CBOE Canada.

Immediately following the Acquisition, Mr. Datika holds beneficial ownership of an aggregate of 40,567,179 Common Shares, representing approximately 17.45% of the issued and outstanding Common Shares.

On January 11, 2022, the Company announced that Mr. Datika beneficially held 40,540,013 Common Shares, representing approximately 19.98% of the issued and outstanding Common Shares. Owing to certain issuer actions undertaken by the Company, Mr. Datika’s percentage holdings in the Company have decreased by 2.53% since that time. Immediately prior to the Acquisition, Mr. Datika held beneficial ownership of 40,554,679 Common Shares, representing approximately 17.44% of the issued and outstanding Common Shares.

Mr. Datika acquired the Common Shares for investment purposes and expects to monitor the business, prospects, financial condition, and potential capital requirements of the Company, and depending on the evaluation of these and other factors, Mr. Datika may, from time to time in the future increase or decrease his direct or indirect ownership, control or direction over Common Shares or other securities of the Company through market transactions, private agreements, subscriptions from treasury or otherwise.

For further information or to receive a copy of the early warning report regarding the transactions described in this news release, contact:

Shy Datika, c/o
The INX Digital Company, Inc.
550 Burrard Street, Suite 2900
Vancouver, British Columbia
V6C 0A3
+1 855 657 2314

About INX:
INX provides regulated trading platforms for digital securities and cryptocurrencies. With the combination of traditional market expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and a disciplined regulatory approach.

About The INX Digital Company, Inc.: INX is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies. The INX Group’s vision is to be the preferred global regulated hub for digital assets on the blockchain. The INX Group’s overall mission is to bring communities together and empower them with financial innovation. Our journey started with our initial public token offering of the INX Token, in which we raised US$84 million. The INX Group is shaping the blockchain asset industry through its willingness to work in a regulated environment with oversight from regulators like the SEC and FINRA.

In addition to operating two regulated trading platforms for blockchain assets, INX’s interdealer broker, I.L.S. Brokers, plans to offer non-deliverable cryptocurrency forwards to Tier-1 banks in the future. For more information, please visit the INX Group website here.

Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, INX has made certain assumptions, including with respect to, the continuous development of the INX trading platform, the completion of the transactions described herein, the offering of non-deliverable cryptocurrency forwards, and the development of the digital asset industry. Although INX believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to regulatory developments, the state of the digital securities and cryptocurrencies markets, and general economic conditions. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Neo Exchange is not responsible for the adequacy or accuracy of this press release.‍
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.‍

For further information, contact:
The INX Digital Company, Inc.
Investor Relations
+1 855 657 2314
Contact: Alan Silbert
Email: [email protected] 

For more information, contact:
Liz Whelan
[email protected] 
(312) 315-0160

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