Fintech PR
Nayms Issues World’s First Crypto-Denominated Industry Loss Warranty (ILW)
LONDON, July 6, 2023 /PRNewswire/ — Nayms SAC Ltd., the leading crypto-native insurance marketplace, is proud to announce the issuing of the world’s first crypto-denominated industry loss warranty (ILW) through the second segregated account or ‘cell’ within its marketplace. This type of instrument is index-based and used for providing retrocessional reinsurance protection to property reinsurers.
In this program, Nayms provides coverage for US named windstorm, attaching above a loss trigger of $60 billion. The basic structure aligns with other ILWs, but Nayms innovates on the traditional approach by using USD Coin (USDC) as the collateral within the segregated account on its independently audited Ethereum smart contract, and by securing that collateral through new mechanisms and concepts, including a digital multi-signature process, for enhanced transparency and efficiency.
“This deal demonstrates so nicely the benefits of our business model and technology for a broad range of parties and opportunities. Notably, insureds gain access to alternative capital and investors can earn a return on their crypto that is fully regulated yet not correlated to most other financial instruments,” observed Dr. David Verbeeten, Chief Commercial Officer at Nayms.
The purchaser is Prospero Re, a Bermuda insurer, wholly owned by Resolute Global Partners, with a strong commitment to innovation. For underwriting, Nayms was assisted by the deep domain knowledge of Daniel Vestergren, CEO of Varius Capital Partners Ltd. and former head of ILS at Hiscox Bermuda, who acted as general advisor. For seamless placement, both the purchaser and Nayms were guided by Guy Carpenter, who acted as sole placing broker.
Tom Libassi, Co-Founder and Managing Partner of Resolute Global Partners, said, “We’re proud to partner with Nayms to offer the first-ever property catastrophe reinsurance contract denominated in cryptocurrency. This contract is also the first ILW with a loss trigger based on the advanced catastrophe modeling technology behind our Footprint product, which provides coverage for severe losses along with a transparent, timely, and highly efficient way for investors to access the property catastrophe market.”
The ILW market is part of the larger global property catastrophe reinsurance market, which generates more than $300 billion of annual renewal premium, presenting significant opportunities for insurers, insureds, and investors alike. Moving forward on the success of its innovative ILW, Nayms remains committed to deploying emerging technologies to reshape the insurance industry. The company invites interested parties to explore other pending investment opportunities (returns as estimated) in prospective segregated accounts within Nayms’ marketplace:
a. Primary insurance for excess cyber liability, 10-15% ROI
b. Primary insurance for smart contract hack and cross-chain bridging failure, 12-15% ROI
c. Captive insurance for smart contract protection services, 8-12% ROI
d. Captive insurance for digital asset recovery services, 10-15% ROI
About Nayms
Nayms is the world’s leading crypto-native insurance marketplace. The company is licensed in Bermuda for both general insurance (IIGB) and digital assets business (DABA Class F). It operates as a bridge between alternative capital and uninsured risk in the rapidly evolving digital assets’ space and other hard-to-place markets. It provides the technical and legal infrastructure over which diverse stakeholders, including insureds, insurers, underwriters, brokers, and others, come together to capitalise and transfer risk on-chain. Building on Ethereum, Nayms’ diverse team uses a smart contract to coordinate crypto-native payments, underwriting, claims handling, and capitalisation for a large variety of insurances.
About Prospero Re
Prospero Re Ltd. is a Class 3A licensed reinsurance company domiciled in Bermuda and regulated by the Bermuda Monetary Authority. Launched in 2013 by long-term industry leader Don Kramer, Prospero Re is wholly owned by Resolute Global Partners Ltd. and offers both catastrophe and non-catastrophe reinsurance coverage to a wide range of insurance and reinsurance companies across the globe, predominantly in the United States, Europe, United Kingdom, Canada, Japan, and Australia. Business assumed includes property, marine, and offshore energy, as well as aviation and other sectors within the reinsurance market. We view our counterparties as partners and work to deliver meaningful solutions to our clients for their current and future needs. Prospero Re has an ‘A’ rating from Kroll Bond Rating Agency.
About Guy Carpenter
Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with 3,400 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses including Marsh, Mercer and Oliver Wyman. For more information, visit www.guycarp.com and follow us on LinkedIn and Twitter.
For more information on launching insurance vehicles at Nayms, contact [email protected]. For more information on Nayms and investment opportunities, contact [email protected] or go directly to the website.
Media Contact
Sarah George
Head of Operations
[email protected]
www.nayms.com
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Fintech PR
2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025
NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.
“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”
What Will Happen in 2025:
QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.
What Won’t Happen in 2025:
Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.
For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
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Fintech PR
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Fintech PR
AIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together
TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.
The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.
Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.
Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.
This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.
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