Fintech PR

CGTN: China, Venezuela usher in a new era of bilateral relations

Published

1 year ago

September 14, 2023

BEIJING, Sept. 14, 2023 /PRNewswire/ — “[We are] ready for what will be a historic visit for the strengthening of cooperation ties and the construction of a new world geopolitics,” Venezuelan President Nicolás Maduro wrote on social media last Friday when he landed in southern Chinese city of Shenzhen, the first stop in his trip to China between September 8 to 14.

In Beijing, Chinese President Xi Jinping on Wednesday welcomed President Maduro’s fifth visit to China and called on the two sides to push for more fruitful China–Venezuela strategic cooperation, bring more benefits to the two peoples and inject more positive energy into world peace and development.

Both leaders on Wednesday announced the elevation of the China–Venezuela relationship to an all-weather strategic partnership, ahead of the 50th anniversary of diplomatic ties between the two nations next year.

Good friends, partners

During the meeting, Xi emphasized that China and Venezuela are good friends who trust each other and good partners for common development.

He told Maduro that China views relations with Venezuela from a long-term strategic perspective and, as always, will support Caracas in protecting national sovereignty and countering external interference.

China and Venezuela signed a Memorandum of Understanding (MOU) for cooperation on the Belt and Road Initiative (BRI) on September 14, 2018 with bilateral cooperation running smoothly in areas such as energy, agriculture, infrastructure and high technology.

China is the main trade partner of Venezuela. In the first half of the year, bilateral trade rose 16 percent year-on-year to $1.92 billion, customs data showed.

In July, Venezuela officially joined the China-led International Lunar Research Station (ILRS). President Xi on Wednesday also congratulated Venezuela for becoming the first country in Latin America to join the project.

After their talks, the two leaders also witnessed the signing of a number of bilateral cooperation documents covering the areas of joint construction of the BRI, economy and trade, education, tourism, science and technology, health, aerospace and civil aviation.

Setting an example for South-South cooperation

When asked about the reason for choosing Shenzhen as the first stop of his trip, Maduro earlier told reporters that his country is keen to draw on the development experience of Shenzhen, one of China’s first special economic zones which was at the forefront of China’s reform and opening-up policy.

During his meeting with Maduro, President Xi spoke about China’s reform and opening up, especially the development of special economic zones.

He said China supports Venezuela in setting up special economic zones and will share relevant experience to help its national development.

China stands ready to work with Venezuela to firmly support each other in exploring a development path suited to their national conditions and strengthen Party and national governance exchanges, Xi stressed.

Maduro hailed Venezuela–China relationship an exemplary of international relations in the Global South.

The people of Venezuela express their heartfelt gratitude to China for its invaluable support and assistance at a time when Venezuela was suffering from the multiple difficulties posed by the illegal unilateral sanctions and the COVID-19 pandemic, he added.

As a member of Global South, China firmly supports South-South cooperation and insists on doing its best to help other developing countries achieve common development.

The Global Development Initiative (GDI), proposed by President Xi, now includes over 200 cooperation projects. The Chinese president also just announced to set up a special $10 billion fund dedicated to the implementation of the GDI at the BRICS summit in August.

Moreover, China has created the Global Development and South-South Cooperation Fund with a total funding of $4 billion.

https://news.cgtn.com/news/2023-09-13/Xi-holds-talks-with-Venezuelan-president-1n4ajf4mqli/index.html

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Fintech PR

Hyundai Motor and Škoda Group to Collaborate on Hydrogen Advancement and Energy Efficient Solutions for Mobility

Published

5 hours ago

September 20, 2024

CISION (PR Newswire)

hyundai-motor-and-skoda-group-to-collaborate-on-hydrogen-advancement-and-energy-efficient-solutions-for-mobility

Hyundai Motor Company and Škoda Group sign a Memorandum of Understanding (MOU) during the Korea-Czech Business Summit in Prague
Both parties to cooperate in establishing a hydrogen economy and realizing a sustainable future mobility ecosystem
Škoda Group to explore hydrogen mobility expansion by adopting Hyundai’s hydrogen fuel cell systems and technologies

SEOUL, South Korea and PRAGUE, Sept. 20, 2024 /PRNewswire/ — Hyundai Motor Company and Škoda Group have signed a Memorandum of Understanding (MOU) to commence collaboration on establishing a hydrogen mobility ecosystem.

The signing ceremony, which took place at the Korea-Czech Republic Business Summit in Prague, was attended by Ken Ramírez, Executive Vice President and Head of Global Commercial Vehicle and Hydrogen Business at Hyundai Motor Company, and Petr Novotný, CEO of Škoda Group.

The MOU covers study on adoption of hydrogen fuel cell systems and technologies, study on adoption of energy efficient solutions for mobility projects and products, and exploring hydrogen ecosystem and value chain opportunities beyond mobility.

“Our partnership with Škoda Group aims to accelerate hydrogen adoption, which would contribute to the advancement of hydrogen technology and carbon neutrality across global markets, including the Czech Republic,” said Executive Vice President Ramírez. “Together with Škoda Group, we strive to lead the rapidly growing hydrogen businesses by creating positive synergies between our fuel cell technology and Škoda Group’s mobility products and projects.”

“We believe that hydrogen, alongside energy-efficient solutions, will play an essential role in transforming mobility for a more sustainable future. Our collaboration with Hyundai Motor Company aims at enabling us to look beyond national borders and explore wider markets where these technologies can have a larger impact. By working together, we can bring innovative, eco-friendly solutions to the global mobility ecosystem, advancing cleaner energy in the areas where it’s needed most,” said Petr Novotný, CEO of Škoda Group.

Both parties share the view that hydrogen will be a key pillar for a sustainable society, starting with mobility. As part of the MOU, the parties will explore the possibility that Hyundai would share its fuel cell system and technology, contributing to the acceleration of eco-friendly mobility across global markets where Škoda Group operates, including the Czech Republic.

Hyundai Motor Company and Škoda Group will also conduct feasibility studies for fuel cell system applications for diverse utilization beyond mobility. Leveraging its global expertise and insights in operating various hydrogen applications in both mobility and energy sectors, Hyundai is poised to play a pivotal role in aiding the energy transition.

Hyundai Motor Group is committed to building a hydrogen society under its hydrogen value chain business brand HTWO, which encompasses the Group’s businesses and affiliates, enabling each stage of the entire hydrogen value chain.

Hyundai Motor Manufacturing Czech (HMMC) in Nošovice, established in 2008, has an annual manufacturing capacity of 350,000 vehicles. Considered one of the most modern car manufacturers in Europe, the manufacturing plant was also the largest foreign investment in the Czech Republic.

– End –

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Fintech PR

Banking as a Service Market to Reach $22.6 billion, Globally, by 2032 at 19.3% CAGR: Allied Market Research

Published

5 hours ago

September 20, 2024

CISION (PR Newswire)

banking-as-a-service-market-to-reach-$226-billion,-globally,-by-2032-at-19.3%-cagr:-allied-market-research

PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Banking as a Service Market by Component (Platform and Service), Type (API-based Bank-as-a-service and Cloud-based Bank-as-a-service) and End User (Banks, FinTech Corporations/NBFC and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032“. According to the report, the “banking as a service market” was valued at $4 billion in 2022, and is projected to reach $22.6 billion by 2032, growing at a CAGR of 19.3% from 2023 to 2032.

Get Your Sample Report & TOC Today: https://www.alliedmarketresearch.com/request-sample/A14258

An increase in the use of digital transformation technology in banks, along with streamlining financial services drives the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological innovations as well as a rise in internet and mobile penetration are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the increase in cyber-attacks and the high cost of adoption limits the growth of the banking as a service market.

The platform segment held the highest market share in 2022.

By component, the platform segment dominated the market in 2022, this dominance is driven by the increasing demand for integrated banking solutions that allow financial institutions and fintech companies to offer a wide range of banking services through a single, scalable platform. These platforms enable seamless integration of various financial services such as payments, lending, and account management into third-party applications, making them highly valuable in the rapidly evolving digital banking ecosystem. However, the service segment is expected to witness the largest CAGR of 21.4%, this growth is driven by the increasing need for consulting, integration, and support services that help financial institutions and fintech companies effectively implement and manage BaaS platforms. As more businesses adopt digital banking solutions, the demand for specialized services to ensure seamless platform integration, regulatory compliance, and ongoing technical support is rising.

The banks segment held the highest market share in 2022.

By end user, the banks segment accounted for the largest share in 2022. This dominance is due to banks extensive infrastructure and established networks that facilitate international transactions. Their broad range of services, including secure handling of funds, comprehensive financial offerings, and strong regulatory compliance, contribute to their leading position in the banking as a service market. However, the others segment is expected to witness the largest CAGR of 20.4%. In the rapidly evolving Banking-as-a-Service (BaaS) market, several government initiatives and investment firms are poised to witness significant growth. The regulatory frameworks not only foster innovation but also create a conducive environment for BaaS growth. Similarly, investment firms like Accel Partners, Sequoia Capital, and Andreessen Horowitz are heavily investing in fintech and BaaS platforms, fueling their growth and development.

Purchase This Comprehensive Report (PDF with Insights, Charts, Tables, and Figures) @
https://bit.ly/3Zrz5Ta

Regional Insights: The Europe region held the highest market share in 2022.

By region, the banking as a service market was dominated by Europe in 2022. This dominance is largely attributed to the region’s early adoption of open banking regulations, such as the revised payment services directive (PSD2), which has fostered collaboration between traditional banks and fintech companies. Europe’s regulatory environment encourages innovation and competition in financial services, making it a leading market for BaaS platforms.

Key Industry Developments

In May 2024, Fintech unicorn Zeta launched a digital credit-as-a-service product for its enterprise customers, primarily banks. The product is based on the credit lines on the UPI scheme that the Reserve Bank of India rolled out in September to reduce the cost of financial services and allow users to access pre-approved credit through their UPI-linked accounts.
In May 2024, AppTech Payments Corp. launched InstaCash, which utilizes the BaaS for virtual accounts, debit and credit cards, and high-interest-yielding financial products.
In September 2023, Konsentus partnered with Brankas to enable financial institutions, central banks, and regulators to accelerate their open finance journeys. The integrated technology solutions will deliver ease of use, security, and cost-efficiency for those setting up or participating in open ecosystems.

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Players: –

Solaris SE
Bnkbl Ltd
Treasury Prime
Block Inc.
MatchMove Pay Pte Ltd
ClearBank Ltd
Stripe Inc.
Green Dot Corporation
Starling Bank
Banco Bilbao Vizcaya Argentaria
S.A.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the banking-as-a-service market analysis from 2022 to 2032 to identify the prevailing banking-as-a-service market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the banking-as-a-service market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global banking-as-a-service market trends, key players, market segments, application areas, and market growth strategies.

Access Your Customized Sample Report & TOC Now: https://www.alliedmarketresearch.com/request-for-customization/A14258

Banking-as-a-Service Market Key Segments:

By Component

Platform
Service

By Type

API-based Bank-as-a-service
Cloud-based Bank-as-a-service

By End User

Banks
FinTech Corporations/NBFC
Others

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):

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UK Banking-as-a-Service Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Type, by End User: Opportunity Analysis and Industry Forecast, 2022-2032

API Banking Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Deployment, by Enterprise Size: Global Opportunity Analysis and Industry Forecast, 2023-2032

AI in Banking Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, Enterprise Size, Applications and Technology: Global Opportunity Analysis and Industry Forecast, 2021-2030

Neo and Challenger Bank Market Size, Share, Competitive Landscape and Trend Analysis Report, by Service Type and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Fintech PR

Bybit P2P Taps Into Select Markets With Welcome Offers

Published

6 hours ago

September 20, 2024

CISION (PR Newswire)

bybit-p2p-taps-into-select-markets-with-welcome-offers

DUBAI, UAE, Sept. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, welcomes new users aboard in select markets with P2P coupons valued at up to $20.

From now to Oct. 13, eligible users may unlock P2P coupons worth up to $20 by fulfilling one or both of the following tasks:

First-time deposit: new users who make a deposit of $100 or more in any assets on Bybit P2P for the first time within 7 days of registering on Bybit may receive a P2P coupon for $10.
First trade: users who complete their first trade on Bybit’s Spot or Derivatives on any trading pair achieving a minimum trading volume of $100 may qualify for $10 in P2P coupons.

P2P on Bybit is an intuitive peer-to-peer trading platform for both takers and makers. Offering comprehensive benefits for the community, Bybit P2P provides a wide array of supportive initiatives for users, including the P2P Hiring Program for long-term merchants and Advertiser Programs for top performing P2P advertisers and verified advertisers, helping users achieve their goals.

Winners may use P2P coupons for all fiat currencies supported on Bybit P2P, an ultra user-friendly marketplace that offers mainstream coins including ETH, BTC, USDT and USDC at zero transaction fees for takers.

The coupons are offered on a first-come-first serve basis. This promotion is available for eligible users in selected regions only. Find out more: [Selected Countries Only] P2P Coupons Worth $20 for You!

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 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.

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