Fintech PR
Paladin Capital Group Issues Report on the International State of Safety Tech in 2023
Report Builds on Findings from Paladin’s 2022 Report on the U.S. Safety Tech Market
Report Produced in Partnership with PUBLIC, Perspective Economics, and Leading Cyberpsychologist Dr. Mary Aiken
WASHINGTON, Dec. 6, 2023 /PRNewswire/ — Paladin Capital Group, a leading multi-stage investor in advanced cyber and AI technologies, today released its second report on the state of the Safety Tech industry, building on its 2022 report which found evidence of an emerging billion-dollar US market. This updated report analyzed the market with an assessment across multiple countries, governments, and sectors. The report—completed by Paladin Capital Group, PUBLIC’s Online Safety team, with the support of Perspective Economics and leading cyberpsychologist and Paladin’s Chief Scientist Safety Tech, Dr. Mary Aiken—found that the international Safety Tech market is experiencing rapid year-to-year growth. In the past three years alone, Safety Tech firms have raised $4.8 billion. That is nearly triple the amount raised between 2011 – 2020.
“Safety Tech” refers to the class of technologies or solutions designed to facilitate safer online experiences and protect users from harmful content, contact or conduct. Whereas cybersecurity relates to protecting data, systems and networks, Safety Tech protects the people who use technology. Solutions in this space focus on reducing risk and harm to users in the everyday online environments by protecting people from mis/disinformation, online harassment, hate, discrimination, and online terrorist content, which increasingly threatens democracy and civil society.
“In today’s online society, users are faced with growing cyberattacks that not only threaten cyberspace, but also their well-being,” said Chris Steed, Paladin Chief Investment Officer and Managing Director. “Paladin was founded with the commitment to recognize and address the vulnerabilities facing our critical infrastructure. Over two decades later, that commitment hasn’t changed. Now, we need to help the humans who operate in cyberspace to become resilient and secure.”
This inaugural International State of Safety Tech report establishes a baseline that will be updated on an annual basis going forward, updating the data on the international landscape, increasing awareness of the maturity and impact of Safety Tech offerings, and driving growth in the Safety Tech sector internationally. Through a combination of desk research, expert interviews, and quantitative market analysis, the researchers found:
- The number of dedicated Safety Tech providers has almost tripled in the last decade globally to a total of 537 private sector firms or organizations. Across 37 countries, nearly 17,000 people are employed in the Safety Tech industry.
- The United States and the United Kingdom together are leading the industry, collectively home to about three-quarters of Safety Tech companies.
- In the U.S., more Safety Tech firms are being acquired and embedded into larger tech companies, a trend expected to rise and continue in the coming years.
- In 2024, we expect to see greater attention on solutions to improve election integrity and tackle mis/disinformation, driven by global conflict and upcoming high-profile elections in countries that account for over 50% of global GDP.
- Rapidly developing generative AI technologies and landmark online safety legislation in the EU and UK present unique threats and opportunities to the industry. The recent passing of the Online Safety Act in the UK positions it as a global leader and policymaker in Safety Tech.
“The widespread impact of online harm is now well recognized, presenting users with psychological risks, criminal dangers, and extremism,” said Dr. Mary Aiken, Paladin Chief Scientist Safety Tech and Member of Strategic Advisory Group. “Governments and companies must continue to take greater responsibility for protecting our collective cyber future and those who are vulnerable online. Those of us in the Safety Tech industry must continue to promote research, partnerships, policies, and solutions to create the future we want today and tomorrow—both online and in the real world. This report is a culmination of years of research and hard work.”
“With new online safety regulation coming into force in the UK and EU and Generative AI tools emerging at a rapid pace, we are at an exciting watershed moment for the Safety Tech sector,” said Alex de Carvalho, CEO & Co-Founder at PUBLIC. “What’s more, as nearly half of the world’s population heads to the polls in 2024 there is a huge opportunity and great urgency for governments, regulators, investors, and industry to further catalyze the online Safety Tech sector to protect citizens online.”
At a time of heightened concern around online safety, the report guides policymakers on how to navigate previously unfamiliar situations to protect Americans online. “We are familiar with national security challenges concerning the protection of critical infrastructure; however, the cyber threat landscape is changing, and now we face the challenge of securing ‘human infrastructure,’” said Congressman James Langevin, Member of Paladin Strategic Advisory Group. “The global policy and regulatory environment is increasingly concerned with protecting users from online harm. While there has been reluctance in some corners among policymakers to regulate in the online safety arena, it’s clear the tide is shifting.”
The report is forward-facing, looking to guide both policymakers and tech companies as they work to develop Artificial Intelligence technology safely. “There is an essential and urgent need to develop frameworks, based on rapidly evolving private sector best practices, to instill trust, safety, and security into the core of AI development and deployment process in the international Safety Tech sector,” said Chris Inglis, Paladin Senior Strategic Advisor and former U.S. National Cyber Director.
Based on the findings of the research, the report provides a set of tailored recommendations for governments, regulators, international bodies, investors, leading tech companies, and Safety Tech providers in order to drive the next wave of growth in the sector internationally. In this of what will be a yearly report, Paladin, Dr. Aiken, and PUBLIC have put together a roadmap for experts to reference in coming years.
The full report is available here.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin’s core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers. Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades.
For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on LinkedIn at https://www.linkedin.com/company/paladin-capital-group or visit us at www.paladincapgroup.com.
About PUBLIC
PUBLIC is a digital transformation partner committed to helping the public sector turn innovative ideas into practical solutions Combining expertise around government policy, delivery, and technology, PUBLIC aims to build a public sector that is powered by new technologies and innovative ways of working, achieving better outcomes for citizens. As one of Europe’s leading advisory firms with a specialism in online safety, PUBLIC works closely with clients across central government, regulator bodies and industry to build safer online spaces, protect users and grow a responsible digital economy.
For more on PUBLIC, follow us on Twitter at @PUBLIC_Team and on LinkedIn at https://www.linkedin.com/company/public.io/ or visit us at https://www.public.io/.
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SINGAPORE, Oct. 11, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a leading provider of next-generation stablecoin infrastructure, and dtcpay, a leading regulated digital payment platform, are making history with a strategic partnership that will revolutionize access to stablecoins. For the first time ever, users will have the ability to on-ramp WUSD, a fiat-collateralized stablecoin pegged 1:1 to the US dollar, through dtcpay with zero fees, marking a paradigm shift in the accessibility and affordability of digital assets.
This groundbreaking move marks a new era for stablecoins, breaking down barriers to entry and empowering individuals and businesses worldwide. Now, with a more inclusive and cost-effective way to utilize stablecoin solutions, WSPN and dtcpay are making WUSD a truly borderless and accessible digital currency. By eliminating fees, the partnership will save users significant amounts annually in transaction fees. WUSD will be gradually rolled out to the many merchants supported by dtcpay, including high-end establishments such as 35A Scotts Whisky Club and Capella Hotel Group’s flagship properties, Capella Singapore and Patina Maldives, Fari Islands. This practical implementation demonstrates the immediate impact and versatility of WUSD in everyday transactions, from luxury experiences to hospitality services.
“This zero-fee WUSD on-ramp with dtcpay is a game-changer for Stablecoin 2.0,” said Raymond Yuan, Founder & CEO of WSPN. “This partnership embodies our vision of making digital assets truly accessible to all, accelerating the adoption of stablecoins in the world. WSPN is proud to lead this financial revolution, reshaping the future of borderless transactions.”
“Partnering with WSPN to offer a zero-fee on-ramp for WUSD is a monumental step in making digital assets more accessible and affordable for dtcpay’s users. At dtcpay, we are excited to lead this charge toward a more inclusive financial future, breaking down barriers and creating new opportunities”, said Anson Zeall, Chief Strategy Officer & Head of Compliance, dtcpay.
By eliminating fees for on-ramping WUSD, WSPN and dtcpay are democratizing access to stablecoins, fostering greater adoption and paving the way for a more efficient, transparent, and equitable financial system globally.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure and licensed digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About dtcpay
dtcpay is a regulated Major Payment Institution (MPI) licensed by the Monetary Authority of Singapore (MAS) to conduct Digital Payment Token (DPT) services and other payment services under the Payment Services Act (PSA).
As a leading provider of digital payment solutions, we pioneer the integration of cryptocurrency acceptance into traditional financial systems. With a vision to make global transactions seamless and sustainable, dtcpay empowers individuals and businesses to embrace the future of payments.
Learn more at dtcpay.com.
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An exclusive investment network founded by tech alumni in Southeast Asia expands to support and fuel the vibrant African startup ecosystem.
SINGAPORE, Oct. 11, 2024 /PRNewswire/ — XA Network, a leading investment network founded by tech alumni in Southeast Asia, today announced its expansion into Africa with the launch of XA Africa. The move underscores the network’s vision and commitment to fostering innovation and supporting promising startups globally.
XA Africa is founded by a trio of experienced tech professionals:
- Nitin Gajria, former MD of Google Sub-Saharan Africa
- Jason Scott, venture capitalist and an architect of the Black Founders Fund at Google
- Marek Dawidowicz, current Marketing Director at YouTube and South African native
“Founders of technology startups in Africa are uniquely placed to solve some of Africa’s most profound challenges and unlock its greatest opportunities. We see the foray of XA Network into Africa as a natural progression, allowing us to connect amazing founders to experienced and expert operators from the tech industry”, says Nitin Gajria, Co-Founder of XA Africa.
XA Africa aims to connect exceptional African tech founders with seasoned investors and industry experts, primarily from global and regional technology companies, to provide not just capital but also the guidance and support needed to scale their ventures. The newly established XA Africa has already made notable investments in promising African startups, including:
- Crop2Cash (Nigeria)
- BuuPass (Kenya)
- Kaya (South Africa)
- Talamus Health (Ghana)
“We are excited to have XA network on board because of their strong network of experts who are open to listening and helping. They’ve introduced us to advisors from Expedia and truly understand the dynamics of emerging markets, making them a valuable investor.” – Sonia Kabra & Wyclife Omondi – Founders of BuuPass
“Partnering with XA Network has been a game-changer for our company. Their strategic guidance and network have opened doors to new opportunities, and we’re excited to see the impact of our collaboration continue to unfold. We’re grateful for their trust in our vision.” – Michael Ogundare – CEO of Crop2Cash
Since its inception six years ago, XA Network has established itself as a significant player in the Southeast Asian startup ecosystem, making nearly 100 investments in the region, and consistent ranked as #1 investment network in the region. XA Network comprises senior leaders from prominent global and regional technology companies and notable company founders. This approach distinguishes XA Network, enabling it to offer portfolio companies unparalleled guidance and support from experienced industry operators.
We also see an opportunity to build a stronger bridge between ecosystems in Africa and Southeast Asia along the way. In fact, this investment hypothesis has already been proven across some of the African founders we are currently supporting.”, Mr Gajria added.
The XA Africa team will be hosting their first public Demo Day webinar on Thursday November 7, 1-2pm GMT+1, where Africa focused investors can meet and invest in four founding companies and learn more about XA Africa. Click here to register for the event.
For more information, please visit https://xanetwork.co/
For media queries, please contact:
Carmelita Lumempouw-Didoné
[email protected]
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Fintech PR
Arta Finance partners with Abu Dhabi’s Wio Invest to launch Wealth-as-a-Service for banks globally, unveils Arta AI Copilot
- MAS-licensed Arta Finance launches in Singapore and internationally
- Arta announces partnerships with Wio Invest for its Wealth-as-a-service offering for banks and financial institutions globally
- Arta unveils Arta AI Copilot – a number of AI-enhanced experiences on its wealth platform
- Arta welcomes Ralph Hamers as external advisor
SINGAPORE, Oct. 11, 2024 /PRNewswire/ — Fast-growing digital wealth management platform Arta Finance today launched globally. Arta’s platform is now open to accredited investors in Singapore and to international investors open to managing their wealth in Singapore – a global wealth hub where an expected 1.6 million offshore investors are expected to manage $4.8 trillion in assets by 2028. The international launch follows Arta’s successful debut in the US in October 2023.
Arta today also took a major step on its B2B journey with the announcement that Abu Dhabi’s Wio Invest would be the first of many to integrate the Arta wealth-as-a-service platform into their digital platform, to create a new wealth management offering for its clients in the Middle East, pending regulatory approval. Wio Invest, a forward-thinking Middle Eastern fintech, is regulated by the Securities and Commodities Authority (SCA) and backed by Abu Dhabi Development Company (ADQ), a prominent institution.
Arta’s wealth platform offers a curated deal flow that includes private investments from exclusive fund managers, intelligent public market strategies, and innovative structured products, without the sales pressure, opaque pricing and manual processes found in many other financial institutions.
Commenting on the international launch, Arta CEO Caesar Sengupta said: “Arta is at the intersection of some powerful trends, including the personalisation and democratisation of wealth management, the huge growth and opportunity in private market investing, and the use of AI to create capabilities that have previously only been the preserve of the ultra-wealthy. We are now taking a major leap forward with our international launch and can’t wait to bring the Arta wealth platform and AI Copilot to the global community in the months and years ahead.”
The ‘wealth-as-a-service’ platform for banks and financial institutions is a new B2B offering by Arta. It was done with support from the venture building team of the Singapore Economic Development Board (EDB), which worked closely with Arta to incubate this offering during the early stages of the concept. This cloud-based platform empowers partner banks to serve their clients better and meet evolving demands with faster time-to-market for innovative wealth management products, services, and technology. Banks can choose from integrating Arta AI Copilot capabilities, to embedding Arta’s investment solutions into their platforms, to fully white-labelling the Arta platform — enhancing their digital capabilities and unlocking growth in new wealth segments.
To help integrate a cloud and AI-native wealth platform into legacy systems at partner banks, Arta is also announcing partnerships with leading cloud provider Google Cloud and global management and technology consultancy Capco to provide solutions for banks looking to adopt Arta’s technology.
Amanda Ong, Head of International Expansion commented: “The launch of the B2B business is an extension of Arta’s mission, enabling us to partner with banks and financial institutions in a way that is wholly complementary to their current offering. We are proud to welcome Wio as our launch partner and look forward to growing together.”
AI drives leap in wealth tech
Arta also launched the first-of-its-kind AI Copilot, purpose-built for wealth management and finance. This patent-pending technology empowers Arta’s members to make smarter investment decisions – ideate, analyse, and monitor their portfolios with the tools and insights that usually require large teams of relationship managers, private bankers, and investment analysts.
Unlike commonly available AI chatbots or apps, Arta’s AI systems are purpose-built for applications in wealth and finance and exploit the reasoning capabilities of the latest large language models. Arta’s AI stack employs several models that work in conjunction with each other – including commercially available closed source models, fine-tuned open source LLMs and several custom built AI/ML models created by Arta’s researchers. These models have access to high-quality public and proprietary data including large financial and risk data sets for training and inference. This enables Arta to combine the fluency of LLMs with the time sensitivity, hard mathematical rigour and explainability necessary for investment and financial applications. Its AI stack, like the rest of Arta’s infrastructure, is highly privacy-preserving and uses encryption at rest and in transit for all user data.
Singapore Minister of State for Trade and Industry and MAS board member, Alvin Tan was on hand to help launch Arta in the City State, alongside investors, fund managers, partners, and clients. The company has established key functions in Singapore including engineering, marketing, product, design and operations and a number of its global leads including its CEO are based in Singapore.
Arta welcomes Ralph Hamers as external advisor
Arta also today welcomes Ralph Hamers as an external senior advisor, providing strategic guidance as the company grows internationally. Ralph Hamers is an advisor to established and new players in the global financial sector. He developed a special knowledge in digitalisation of processes and client offerings. Hamers previously was CEO with UBS and ING
Commenting on his role as senior advisor to Arta, Mr Hamers said:
“A central focus of my leadership has been to take legacy businesses and digitalise, integrating front-to-back technology to drive efficiencies and make the lives of clients and colleagues easier. This often needs major and multi-year transformations in well-established organisations. With Arta, I see the enormous opportunity of having incredibly smart people from the worlds of technology and finance coming together to build a platform that is more than ready to take its place amongst the world’s leading wealth managers.”
Mr. Hamers becomes part of a distinguished group of early investors in Arta, which includes more than 140 technology and finance leaders, such as ex-Google CEO Eric Schmidt and Mastercard CEO Michael Miebach.
The Arta wealth platform is now available globally to all accredited investors on desktop and mobile. Early members will get their first investment up to $100K managed free for life by Arta (terms and conditions apply). To learn more about Arta, please visit artafinance.com.
Important Disclosures
Arta Wealth Management Pte. Ltd. (“Arta Finance”) is licensed by the Monetary Authority of Singapore (“MAS”) whose products and services are only available to Accredited Investors.
Investing in securities involves risk, and there is always the potential of losing money. Certain investments are not suitable for all investors. The content provided herein is for informational purposes only and is not investment or financial advice, tax or legal advice, an offer, solicitation of an offer, or advice to buy or sell or hold securities or investment products. This material has not been reviewed by the Monetary Authority of Singapore. For additional disclosures related to Arta Finance, please visit https://artafinance.com/sg/disclosures.
About Arta Finance:
Founded by ex-Google executives, Arta Finance is a digital wealth platform for the savvy that enables more people to access the “financial superpowers” of the ultra-wealthy. The platform provides access to private market investments from elite fund managers, intelligent public market strategies and structured products, and sophisticated financial services such as insurance and estate planning. Headquartered in the US and Singapore, Arta serves its members directly as well as empowering partner financial institutions to expand wealth management to new clients. Arta is backed by Peak XV, Ribbit Capital, Coatue, EDBI, and over 140 luminaries in tech and finance.
Learn more at artafinance.com
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