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Eurobank Asset Management MFMC invests in Mintus

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LONDON and ATHENS, Dec. 7, 2023 /PRNewswire/ — Mintus Global Limited (Mintus), announces that Eurobank Asset Management MFMC (Eurobank Asset Management), a 100% owned subsidiary of Eurobank S.A. (Eurobank has acquired a minority stake in Mintus Global Limited (Mintus). This investment will trigger further collaboration between the parties in the field of alternative investment asset categories.

The collaboration will combine Eurobank’s expertise across alternatives with Mintus’ high-tech solutions offered through the cutting edge fractionalized alternative asset platform operated by its FCA regulated subsidiary, Mintus Trading Limited and enabling Mintus to offer access to a diversified set of alternative assets.

“Our investment in Mintus underscores Eurobank Asset Management ‘s commitment to harnessing breakthrough technology to benefit our clients,” said Theofanis Mylonas, CEO of Eurobank Asset Management MFMC. “This move builds upon Eurobank Asset Management’s history of seeking innovative opportunities to add value for our stakeholders. The resulting forward-looking approach to asset management will strengthen our position at the forefront of the global financial landscape.”

“Joining forces with Eurobank Asset Management MFMC solidifies our vision of transforming the future of investing by significantly broadening access to alternative assets,” remarked Tamer Ozmen, Founder and CEO of Mintus. “We believe that providing people with increased investment opportunities is essential to greater financial independence and collective prosperity.”

The move comes as demand for alternative assets has increased, due to their attractiveness as a diversification tool offering returns uncorrelated with both the stock and bond market and potential returns. Prequin estimates that alternative assets under management will reach $24.5 trillion by 2028[1], up from $13.7 in 2021. EY research found the percentage of alternative allocation within portfolios increases with net worth, from 14% for the mass affluent to 81% for ultra-high-net-worth individuals[2].

“The investment of Eurobank Asset Management in Mintus is a sign that the art market is evolving and a testament to the growing acceptance of shared art ownership,” said Brett Gorvy, Chief Curator, and Chairman of the Investment Mintus’ Art Committee. “A more inclusive, democratised art market will benefit both investors and artists in the future.”

About Mintus:

Provides access to otherwise inaccessible alternative asset classes for Family Offices, UHNWs, Institutions and qualifying mass affluent investors and improve portfolio diversification and enhance risk adjusted returns in a highly challenging geo-political and economic environment through an increased allocation to alternative assets on the Mintus platform.  Advanced platform harnesses cutting edge technology facilitate efficient scaling and to provide a best-in-class investor experience in digital assets.  AI capability is applied to asset selection across asset classes. Mintus operates in a regulated environment bringing transparency and builds trust through its PE grade investment committee and asset selection and exit process.

Bottom of Form

Notes to Editors:

Selected art for shared ownership by Mintus is subject to independent verification and valuation. All artworks are housed in a specialized and secure facility. Eligible investors are presented with a minimum investment threshold of $3,000, inclusive of certified high net worth, self-certified sophisticated or accredited investors. Certification is integrated into the registration process.

Mintus will actively manage the art investments until they are ultimately sold to enable investors to exit the investment. 

Full details of the investment and risks are included in the investment documents available to all qualifying investors who successfully complete the sign-up process with Mintus.  Investors’ attention is drawn to the following key risks:

–  Liquidity.  Shares held by investors are not traded on a recognised exchange.  Investments are long-term. Mintus plans to operate a bulletin board in the future.

–  Risk of Loss.  All investments in shares involve a high degree of risk and compensation is not available.

–  Lack of Diversification.  Shares held by investors represent interests in a specific, pre-identified artwork and the past performance of the art market, a particular artist’s work, or a given artwork is not a reliable indicator of its future performance.

Mintus Trading Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 942522 to (i) arrange (bring about) deals in certain shares, securities and debentures, (ii) make arrangements with a view to transactions in certain shares, securities and debentures (iii) arrange safeguarding and administration of certain shares, securities and debentures, (iv) manage an unauthorised Alternative Investment Fund and (v) agree to carry on the regulated activities. For more details on our regulatory permissions please see the Financial Services Register.


[1] https://www.preqin.com/insights/research/reports/future-of-alternatives-2028

[2] EY 2021 Global Wealth Research Report

CONTACT: Tim Naylor; Account Manager; Lansons; +44 (0) 7983 612919 

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Velo Is Enhancing Its Own Ecosystem Through Interoperability

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Interoperability in Velo: To Infinity and Beyond

BANGKOK, March 5, 2024 /PRNewswire/ — As new blockchains and blockchain-based platforms emerge, it’s crucial for these ecosystems to be interconnected, enabling users to seamlessly transfer their assets without complications. Velo is enhancing its own ecosystem through interoperability, aspiring to become a pivotal connection point for various blockchains.

A significant update within Universe is its support for multiple wallet addresses on a single platform, catering to users who possess multiple wallets across different platforms. This feature is essential for managing diverse assets conveniently.

Furthermore, Universe is integrating multi-chain login and registration support for networks such as Solana and Tron, thereby improving Velo’s accessibility and usability. Efforts are in place to refactor the user database and management code, ensuring a smooth and secure experience.

Velo is advancing its blockchain integration by incorporating the Solana and Tron networks, aiming to offer enhanced deposit and withdrawal functionalities to enrich its ecosystem. This initiative involves deploying Solana and Tron chain-node and full-node functionalities, thereby broadening the network’s diversity and user options. Additionally, Universe is introducing a dedicated user interface (UI) for Solana transactions, encompassing deposit-withdrawal and account management across Webplus and mobile platforms, ensuring a seamless user experience.

This streamlined approach guarantees that Velo’s users have comprehensive and intuitive access to a broader range of transaction options, significantly boosting the platform’s utility and user engagement.

The integration with the Lightning Network marks a significant advancement in improving Bitcoin transactions. By implementing Lightning chain-node and deploying a BTC full-node, Orbit aims to streamline Bitcoin deposits and withdrawals, making them faster and more cost-efficient.

Velo’s dedication to ensuring inclusivity and connectivity with other blockchains is evident through the concrete steps it has taken. With aggressive strides towards unlocking the full potential of the Velo Protocol, Velo is poised for significant growth and innovation.

About Velo Labs

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network and Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.

Follow us for more info: Twitter / Telegram / Website

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CGTN: China vows to develop new quality productive forces in modernization drive

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BEIJING, March 5, 2024 /PRNewswire/ — China saw the number of contracted technology transactions grow by 28.6 percent in 2023, an achievement that speaks volumes of the country’s enhanced capacity for innovation-driven development.

China will leverage the leading role of innovation, spur industrial innovation through advancements in science and technology, and press ahead with new industrialization, according to a government work report submitted on Tuesday to the national legislature for deliberation.

Chinese Premier Li Qiang delivered the report at the opening meeting of the second session of the 14th National People’s Congress in the Great Hall of the People in Beijing.

The report says that the country will strive to modernize the industrial system and develop new quality productive forces at a faster pace.

Developing new quality productive forces

With innovation leading the way, new quality productive forces mean going beyond the traditional models of economic growth. This path features high technology, high efficiency and high quality, and aligns with China’s new development philosophy.

In order to develop these new quality productive forces, the government work report lists a series of tasks.

It calls for improving and upgrading industrial and supply chains besides cultivating emerging and future-oriented industries, such as hydrogen power, new materials, biomanufacturing, commercial spaceflight, quantum technology and life sciences.

The report also says that innovative development of the digital economy will be promoted, an Artificial Intelligence Plus initiative will be launched, and the country will consolidate and enhance its leading position in industries such as intelligent connected new-energy vehicles.

Moreover, China has set an economic growth target of around 5 percent for 2024 and vowed to promote high-quality development. It will issue ultra-long special treasury bonds annually over the next several years for implementing major national strategies and building up security capacity in key areas, starting with 1 trillion yuan of such bonds this year, according to the report.

The report also stresses efforts for invigorating China through science and education and consolidating the foundations for high-quality development.

China will speed up efforts to build a contingent of personnel with expertise of strategic importance and cultivate more first-class scientists and innovation teams.

The country will develop platforms for identifying basic research talent, train high-performing engineers and highly-skilled workers, and enhance support for young scientists and engineers, according to the report.

Acting on people-centered development philosophy

China will make efforts to ensure and improve the people’s welling and promote better and new ways of conducting social governance, the report says.

It highlights that China will deliver real benefits to the people to their satisfaction by acting on the people-centered development philosophy.

In 2023, China’s per capita disposable income of residents increased by 6.1 percent, and over 66 million taxpayers benefited from an increase in the special additional deductions for individual income tax, which cover children nursing expenses, children’s education and elderly care expenses, according to the report.

In 2024, the country expects to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at around 5.5 percent.

China will also enhance ecological conservation and promote green and low-carbon development, including taking comprehensive steps to improve the environment and boosting the green and low-carbon economy, according to the report.

In 2023, China’s installed renewable energy capacity surpassed its thermal power capacity for the first time in history and it accounted for over half of newly installed renewable energy capacity worldwide, according to data released by the National Energy Administration.

The country will advance the energy revolution and actively and prudently work toward peaking carbon dioxide emissions and achieving carbon neutrality, according to the report.

https://news.cgtn.com/news/2024-03-05/China-s-top-legislature-starts-annual-session-1rImSPDg5EI/p.html

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SK chemicals, Hyosung Advanced Materials, and Hankook Tire Commercialize South Korea’s First Chemically Recycled PET Tire

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  • Establishing a circular economy that extends from recycled PET to high-strength tire cords and electric vehicle-exclusive tires
  • Leading the global tire industry’s sustainable management by commercializing products with 45% eco-friendly certified materials

SEONGNAM, South Korea, March 5, 2024 /PRNewswire/ — To reduce carbon emissions, the South Korean industrial sector has developed and commercialized the country’s first tire using chemically recycled PET.

SK chemicals (CEO Ahn Jae-hyun), Hyosung Advanced Materials Co., Ltd. (CEO Cho Yong-soo), and Hankook Tire & Technology Co., Ltd. (CEO Lee Soo-il, hereafter Hankook Tire) announced on the 5th that they have successfully developed the electric vehicle-exclusive tire “iON” applying “circular recycled PET (polyester) fiber tire cords.” Circular recycling is an exclusive chemical recycling technology of SK chemicals that breaks down discarded plastics through chemical reactions into molecular units and then uses these raw materials to produce recycled plastics.

Before the commercialization phase, there were instances where chemical recycling technology was applied to concept tires or prototypes, but the release of a tire product to the market using chemically recycled PET-based tire cords through to commercialization is a first in South Korea.

SK chemicals, Hyosung Advanced Materials, and Hankook Tire have collaboratively developed this tire over a period of about two years. SK chemicals has reliably supplied the circular recycled PET “SKYPET CR”, and Hyosung Advanced Materials developed the high-strength recycled PET-based tire cords using this as a raw material. The developed tire cords were applied to Hankook Tire’s premium electric vehicle tire brand, iON. The iON tire, with a 45% sustainable material content, has recently passed the stringent reliability verification by a European automotive manufacturer, securing final approval for use and being mounted as tires for new vehicles.

Tire cords are fiber reinforcement materials that help maintain the shape of the tire and withstand the load and impact applied during driving, enhancing the tire’s durability, driving performance, and ride comfort.

SK chemicals’ “SKYPET CR” has the advantage of maintaining high-quality properties and safety even after infinite recycling, compared to the physical recycling method of washing discarded plastics or cutting them into flakes for reuse, and it can achieve properties equivalent to petrochemical-based materials.

The iON model developed by Hankook Tire incorporates 45% sustainable materials, including bio-based, circular, and bio-circular polymers, bio-based silica along with Hyosung Advanced Materials’ tire cords, and the model is the first tire to bear the ISCC PLUS certification logo.

 

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