Fintech PR
Kronos Research joins Token 2049 to strengthen its market-making foothold in Asia
SINGAPORE, Sept. 12, 2023 /PRNewswire/ — TOKEN 2049 – Kronos Research is bullish on the growth of virtual assets-related projects in Asia as its new leadership meets with partners at Token 2049, Asia’s largest Web3 gathering for decision-makers across the spectrum of traditional finance, big tech, and global regulators, crypto-native entrepreneurs, and builders.
In a statement, Kronos’ newly appointed CEO Hank Huang said the firm will bolster its position as the go-to-market maker in both centralized and decentralized exchanges, ensuring ample liquidity in the cryptocurrency markets despite the current bearish market conditions.
“We plan to invest more funds and resources into market making as we expand into regions such as in Asia, work with newly established DEXs, and provide liquidity for popular assets. We are taking the opportunity to meet current and future partners and the exchanges who are also here at Token 2049,” Huang said, noting that the firm had tripled its market share in the last quarter.
Huang said Kronos is opening a new office in Singapore and has secured new fund registration in the Cayman Islands. “The US regulation is pushing crypto to Asia since Asia is receiving attention due to its more open regulatory environment. We have also secured fund registration in Cayman as part of our compliance efforts,” Huang noted.
Meanwhile, Vincent Liu, the new COO of Kronos announced that on the venture side, they are looking to invest in more projects to take advantage of the increase in higher-quality protocols with lower valuations during the current bear markets.
“The bear market serves as a natural litmus test for projects that are just looking for quick profits. We are looking to invest in those who patiently build strong projects during tough times, driven by a long-term mission, not quick gains,” Liu noted.
New management vision
Huang and Liu, who have risen through the ranks at Kronos, have been appointed as CEO and COO, respectively, to spearhead Kronos’s ambitious expansion into high-growth regions.
“In our rapidly evolving industry, my leadership emphasizes adaptability and seizing new opportunities. This demands continuous learning and honing core skills. While the market’s future is uncertain, our focus is clear: leveraging our research prowess to provide more robust and deeper liquidity for projects and exchanges,” Huang said.
“In the midst of this bear market, we embrace relentless building – diversifying strategies, deepening crypto insights, and forging partnerships. Our commitment to Kronos’s DNA remains steadfast as we unite with all teams, navigating challenges and driving collective growth,” Liu meanwhile said.
Huang began his career at Allston Trading, excelling in High-Frequency Trading. He co-founded 84 LLC and Coinful Capital, developing trading systems and strategies. He joined Kronos as CTO in 2019, achieving top market maker rankings. He holds degrees in Computer Science and Finance from MIT.
Meanwhile, before becoming COO, Liu led Asset Management and oversaw risk and trading at Kronos. His trading career began at Belvedere Trading, an option market maker, where he spent over 8 years and held the position of Partner and Director of Electronic Trading. Liu received a BS and MS in Electrical Computer Engineering from Carnegie Mellon University.
As one of the world’s leading market-makers, Kronos’ daily crypto trading volume averaged billions across top global exchanges with a worldwide team of 100 professionals.
Since 2021, Kronos transitioned from primarily focusing on centralized exchanges to expanding into the decentralized exchange (DEX) sector, becoming a key liquidity provider for various blockchain-based CLOB DEXs (Central Limit Order Book DEXs). This strategic shift has allowed them to offer liquidity in multiple Layer 1 blockchain ecosystems and diversify their services to include liquidity provision to DeFi Protocols. Aside from CLOB DEXs, Kronos also provides liquidity to other types of DEXs and DeFi protocols and uses different models like RFQ (Request for Quote) and LP (Liquidity Provider) to offer liquidity to platforms like 1inch and WOOFi.
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View original content:https://www.prnewswire.co.uk/news-releases/kronos-research-joins-token-2049-to-strengthen-its-market-making-foothold-in-asia-301924418.html
Fintech PR
67% of larger hospitality operators are unhappy with their current tech stack: insights unveiled in new research report from Vita Mojo
New research from Vita Mojo and KAM reveals the shortcomings of modern restaurant tech, with over half of operators reporting inefficiencies are stopping them achieving business goals.
LONDON, Sept. 22, 2023 /PRNewswire/ — Vita Mojo, the hospitality tech specialist, has launched a new research report into the impact of technology on the hospitality industry, shining a light on how operators feel about their current tech stack.
Commissioned by Vita Mojo and conducted by specialist hospitality market research agency KAM, the survey asked 81 executives from the leading quick-service restaurant (QSR) and coffee chain brands about their experiences with restaurant technology.
The resulting report – Hospitality Tech 2024: Bridging the efficiency and profitability gap – indicates that certain technologies are holding the industry back.
The survey results show that the hospitality sector is facing a number of challenges:
- A disconnect between efficiency and growth
56% of operators say that not having enough time is a significant barrier to achieving their business goals, but only 28% report fixing inefficiencies is a focus area for the business. - Frustrations with the complexity of technology
44% of operators don’t think they have the in-house skills to make the most out of their tech solutions, and 31% believe that too much training is needed to use digital solutions properly. - Missing out on data-driven decision-making
Two in three businesses are frustrated that they are not making the most of the data they collect through their tech solutions. Nearly 40% find it hard to use data because it’s split across siloed platforms. - Technical support is failing to deliver
Just one in four are very satisfied with the support or advice they receive from their providers.
“When tech works well, your restaurant works well,” says Vita Mojo’s co-founder and CEO, Nick Popovici. “But when it goes wrong – which is often – running a restaurant becomes an uphill struggle. By combining multiple point solutions from a range of different suppliers, the modern Point of Sale (POS) restaurant tech stack used by so many restaurants and chains has become a serious barrier to growth and success.”
“The results of this survey prove that the POS-centric model isn’t working for restaurants. From wasting time updating menus across multiple systems to spending countless hours updating pricing and site information, there are just too many ways in which restaurant tech isn’t making the grade.”
Along with insights from the survey results, Vita Mojo’s report includes real-life examples of exactly how restaurant brands are managing to overcome these tech challenges and fix inefficiencies, which has allowed them to operate and grow with new confidence.
About Vita Mojo
Vita Mojo transforms chaos into confidence for hospitality operators worldwide. Founded in 2016, Vita Mojo started life as the UK’s first cashless, digital-only restaurant, but it soon became clear the entire hospitality industry could benefit from its end-to-end, flexible Order Management System.
Today, Vita Mojo empowers over 130 brands across five countries (including LEON, YO!, tossed and GAIL’s Bakery) to streamline order management, improve guest relationships, seamlessly expand across channels, and grow their business.
For more information visit www.vitamojo.com
View original content:https://www.prnewswire.co.uk/news-releases/67-of-larger-hospitality-operators-are-unhappy-with-their-current-tech-stack-insights-unveiled-in-new-research-report-from-vita-mojo-301936223.html
Fintech PR
Ghana launches USD 550 billion Energy Transition and Investment Plan for achieving net-zero emissions, creating 400,000 jobs by 2060
President Nana Akufo-Addo unveils country’s roadmap for green growth and decarbonizing key economic sectors developed by Government of Ghana and SEforALL
NEW YORK, Sept. 22, 2023 /PRNewswire/ — His Excellency Nana Akufo-Addo, President of the Republic of Ghana, launched the country’s new Energy Transition and Investment Plan yesterday during a Global Africa Business Initiative event in New York.
The plan marks Ghana’s commitment to fighting climate change and fostering economic development in tandem. It details a credible pathway for how Ghana can achieve net-zero energy-related carbon emissions by 2060 through the deployment of low-carbon solutions across key sectors of its economy, including oil and gas, industry, transport, cooking, and power.
Ghana’s government intends to use the plan as its main tool to engage the international community and investors for support with its energy transition. All measures suggested in the plan represent a USD 550 billion opportunity for the international community to invest in sustainable development in Ghana. If the plan is achieved in full, it would generate 400,000 net jobs within Ghana’s economy.
The country’s existing Energy Transition Framework previously set a target of net zero by 2070, but this new plan shows Ghana has increased its ambition and is targeting net zero by 2060.
Various sectoral changes and technologies are proposed in the plan. Four main decarbonization technologies – renewables, low-carbon hydrogen, battery electric vehicles and clean cookstoves – would cover over 90 percent of the targeted abatement by 2060.
Without pursuing the plan, under a business-as-usual scenario, Ghana’s emissions are expected to rise from 28 Mt CO2e in 2021 to over 140 Mt in 2050, with the bulk of emissions growth coming from transport, driven by population growth, GDP per capita growth, and vehicle ownership.
By implementing this plan, Ghana and its partners can instead bring the country’s energy-sector-related carbon emissions to net zero, while demonstrating that action against climate change does not need to come at the expense of economic development.
The Energy Transition and Investment Plan was developed by the Government of Ghana with technical support from Sustainable Energy for All (SEforALL).
Supporting quotes
“This pioneering Energy Transition and Investment Plan maps out Ghana’s journey to achieve net-zero emissions by 2060 based on the latest data and evidence, ensuring that as our economy thrives, it does so in harmony with the environment. This plan is a testament to our dedication to fostering green industries, nurturing the evolution of cutting-edge low-carbon technologies, and propelling our nation towards a sustainable industrial revolution while giving equal growth opportunities to men and women.”
-His Excellency Nana Akufo-Addo, President of the Republic of Ghana
“Ghana’s commitment to a just and equitable energy transition has translated to an ambitious plan that builds a case for low-carbon and energy-efficient solutions across Ghana’s entire energy system. These solutions present a tremendous opportunity for partners and investors from around the world to contribute to climate action and sustainable development in Ghana.”
–Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, and Co-Chair of UN-Energy
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View original content:https://www.prnewswire.co.uk/news-releases/ghana-launches-usd-550-billion-energy-transition-and-investment-plan-for-achieving-net-zero-emissions-creating-400-000-jobs-by-2060–301936200.html
ABU DHABI, UAE, Sept. 22, 2023 /PRNewswire/ — Recognizing sustainability as the defining challenge of our time, the upcoming UNCTAD World Investment Forum (WIF), to be held from 16 to 20 October 2023 in the UAE’s capital Abu Dhabi, will serve as the perfect opportunity to facilitate the transition to a more sustainable economy, particularly for developing countries.
The 8th edition of the Forum, to be anchored on the overall theme of “Investing in Sustainable Development,” will bring together heads of state and ministers, CEOs of largest global companies, and other investment stakeholders from various countries to formulate policies and strategies that will address key and emerging investment-development challenges through a series of local and international forums and conferences.
Over 7,000 investment stakeholders from 160 countries will be participating in the 8th edition of WIF at the Abu Dhabi National Exhibition Centre (ADNEC).
The UAE hosting WIF this year coincides with the country’s declaration of the year 2023 as the “Year of Sustainability,” which will encourage nationwide commitment to sustainable practices and innovative solutions to help address environmental issues on a global scale.
His Excellency Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, reaffirmed the country’s dedication to sustainability, saying that “the UAE is committed to playing a leading role in the global transition to a more sustainable future. We believe that WIF 2023 will provide a unique platform for international leaders to come together to mobilize the necessary investments to make this transition a reality.”
His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED) said: “Hosting WIF 2023 reflects Abu Dhabi’s approach and commitment to sustainable socio-economic development, which is based on strong beliefs and a long history of the wise use of resources. We will be working closely with all partners to ensure that the Forum’s conversations generate innovative ideas and solutions to create a more sustainable future for all.”
Some of the sustainability sessions include “Delivering Public Sector Investment for Sustainable Development” in partnership with ACCA; “Alignment of Investment in Sustainable Infrastructure with the Paris Agreement” with Middlesex University Dubai; and “Accelerating Green Investments in Tourism for Sustainable Development” with the United Nations World Tourism Organization (UNWTO).
Media accreditation
Journalists wishing to cover the forum should apply online.
Media accreditation requirements are here.
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View original content:https://www.prnewswire.co.uk/news-releases/world-investment-forum-to-incentivize-global-investment-in-sustainable-development-301936090.html
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