Fintech PR
Reap Strengthens Its Compliance and Risk Management with Chainalysis
HONG KONG, Jan. 30, 2024 /PRNewswire/ — Reap, a leading payment technology company specialising in bridging Web2 & Web3 finances, is proud to announce its collaboration with the blockchain data platform, Chainalysis. Reap is utilising Chainalysis risk solutions that provide advanced transaction monitoring and robust illicit activity detection capabilities for the blockchain, ensuring the utmost protection for Reap’s user funds in the ever-changing digital landscape.
Chainalysis’ Crypto Crime Report 2024 estimates that while all crypto transaction volume associated with illicit activity amounts to just 0.34% in 2023, the value received by illicit cryptocurrency addresses totals at least $24.2 billion – a significant amount that needs to be addressed. Reap’s adoption of Chainalysis risk solutions helps tackle this issue, leveraging their advanced blockchain data platform to detect and trace on-chain illicit fund flows. By enabling Reap to trace the sender’s journey, Chainalysis enhances visibility and enables the detection of abnormal flows at any stage of the transaction process, emphasising the exceptional transparency offered by blockchain technologies.
Reap observed a notable trend in 2023; Around 20% of Reap’s clients who had not previously used digital currencies started using stablecoins for payments, highlighting the growing recognition of stablecoins. The global surge in digital currency adoption necessitates a comprehensive solution that ensures strict governance, transaction monitoring, and risk management to combat money laundering and other illicit activities. To address this, Reap has amplified its transaction processing capabilities and client protection by utilising Chainalysis risk solutions and its tools to enable real-time transaction monitoring and risk identification, bolstering Reap’s ability to mitigate potential risks. Furthermore, Chainalysis seamlessly integrates with Fireblocks, which serves as Reap’s custodian wallet. As a result, all transactions passing through Fireblocks are automatically screened by Chainalysis, promptly flagging any suspicious fund flows.
Kevin Kang, Co-Founder of Reap, expressed his enthusiasm for the collaboration, highlighting the company’s dedication to solidifying its position in the Web3 space. He stated, “Digital assets often face negative connotations, and Reap aims to dispel any doubts within the industry as global trends steer towards mass adoption. Collaborating with Chainalysis and leveraging their world-class technology allows us to strengthen Reap’s international connectivity. We are committed to upholding the highest compliance standards while remaining agile to meet our clients’ evolving business needs.”
“Blockchain is powering a growing wave of innovation, such as with Reap’s payment solutions, and risk management is an important step to advancing the industry and building trust in the technology. We are excited to be working with Reap to enable them to confidently manage risks while protecting customers, increasing consumer trust, and strengthening brand reputation,” said Diederik Van Wersch, Regional Director, ASEAN & Hong Kong.
The collaboration greatly enhances Reap’s ability to achieve the highest compliance standards in cryptocurrency transactions, demonstrating its commitment to responsible and ethical practices in the Web3 space. By employing Chainalysis’s advanced technology, Reap strengthens its ability to detect and prevent illicit fund flows, and thus, safeguarding users and the broader Web3 community.
About Reap
Reap is a payment technology company focused on connecting traditional finances with digital assets, combining spend management software with a range of innovative payment products to orchestrate success for businesses of all shapes and sizes.
Our card issuing solutions allow businesses to securely issue and curate their own credit card programs, providing seamless experiences for customers. Together with our expense management software, which combines global payout and our flagship Reap Visa Corporate Credit Card, we empower businesses to take control of their finances and streamline their operations.
Reap is supported by an empowering group of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures and Payment Asia. The Company was founded in 2018 and has since expanded to a team of over 70, working across offices in eight countries.
For more information, please visit: https://reap.global/
About Chainalysis
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk.
For more information, visit www.chainalysis.com
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View original content:https://www.prnewswire.co.uk/news-releases/reap-strengthens-its-compliance-and-risk-management-with-chainalysis-302047560.html
Fintech PR
Ethara: EMIRATI SISTERS AMNA AND HAMDA AL QUBAISI RETURN TO YAS MARINA CIRCUIT FOR F1 ACADEMY SEASON FINALE
The single-seater all-female championship series, Formula 1 Academy, wraps up an exciting season of racing at Yas Marina Circuit, supporting the Formula 1 season finale from 5-8 December
Ambassadors of Abu-Dhabi based team, Yas Heat Racing, Hamda and Amna will race at home with Red Bull Racing and Visa Cash App RB – capping off their second season in the championship
ABU DHABI, UAE, Dec. 6, 2024 /PRNewswire/ — In their second season competing in F1 Academy, the prestigious single-seater support series, Hamda and Amna Al Qubaisi have taken their racing careers to new heights. From 6-8 December, the two young Emirati drivers return to Yas Marina Circuit, where they first developed and honed their skills, to conclude an exhilarating season of on-track action.
Having cultivated their passion for racing in Abu Dhabi, the sisters flourished into competitive athletes under the Yas Heat Academy umbrella, the capital’s premier racing development programme. Now competing for two of the championship’s most competitive teams and serving as ambassadors for Yas Heat Racing, Amna and Hamda Al Qubaisi continue to embody the nation’s vision of nurturing young talent at the grassroots level.
Hamda Al Qubaisi was signed by Red Bull Racing for the team’s debut season in F1 Academy. The 22-year-old has delivered standout performances throughout the campaign, culminating in a strong showing at the penultimate race of the 2024 season in Doha last weekend going into the last round in 6th place.
Meanwhile, Amna Al Qubaisi is driving for Visa Cash App Racing in the championship. The 24-year-old Emirati trailblazer has impressed fans and competitors alike, consistently showcasing her skill and determination on the track.
Looking ahead to their return to Yas Marina Circuit, Amna Al Qubaisi shared her excitement:
“I’ve been racing for 10 years now, I started in karting here at Yas Marina circuit, and I slowly developed from karting nationally, moving up to juniors, then seniors, and the next step was Formula 4. Being a Yas Heat ambassador has been great. Yas Heat has helped me develop my skills. They have taught me, coached me, provided me with the the appropriate insights. It is a program that is going to help young racers in karting move up the ladder.”
Red Bull Racing driver Hamda Al Qubaisi added: “Racing at Yas Marina Circuit is both nostalgic and empowering for us as Emirati women. Representing the UAE and Yas Heat Racing on a global stage has been an incredible opportunity, and we look forward to finishing the season on a high note by giving all we can for our teams, surrounded by friends and family.”
Formula 1 Academy joins a packed racing programme at Yas Marina Circuit during the 2024 Abu Dhabi Grand Prix weekend, which also features the FIA Formula 2 season finale and the FIA Formula 4 Middle East Trophy Round. Offering non-stop entertainment, the Abu Dhabi GP weekend kicks off on Thursday, 4 December, promising an unforgettable four-day celebration on Yas Island.
For more information, please visit: https://www.yasmarinacircuit.com/en/motorsports/yas-heat-racing
Photo: https://mma.prnewswire.com/media/2575428/Ethara_Amna_Qubaisi.jpg
Photo: https://mma.prnewswire.com/media/2575429/Ethara_Hamda_Qubaisi.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ethara-emirati-sisters-amna-and-hamda-al-qubaisi-return-to-yas-marina-circuit-for-f1-academy-season-finale-302325112.html
ZUG, Switzerland, Dec. 6, 2024 /PRNewswire/ — The Hashgraph Association (THA), a Swiss innovation leader at the forefront of empowering a digital future for all, has committed $1.5 million to the Global Centre for Sustainable Digital Finance as a founding member. This collaboration aims to drive and fund groundbreaking research and innovation at the intersection of sustainability and digital finance.
The Global Centre for Sustainable Digital Finance, which brings together academic experts from Stanford University, the University of Zurich (UZH), and the Korea Advanced Institute of Science & Technology (KAIST) in South Korea, focuses on developing and accelerating research in sustainable digital finance with impact and training students and practitioners to foster innovation on a global scale. With THA’s committed funding, the Centre will expand its efforts to address global challenges in banking, ESG, financial inclusion, and climate finance.
The Hashgraph Association’s involvement extends beyond just funding. The organization will collaborate with the Centre to conceptualize and implement projects leveraging its cutting-edge Hedera DLT platform. Additionally, THA will equip 360 students annually with skills in mastering DLT using the Hedera Hashgraph platform, with over 2,160 students to be trained over the duration of the partnership, which is 6 years. It will also train 10 trainers equivalent to 60 trainers over this period. Participants will receive Hedera certifications in the form of NFTs (Non-Fungible Tokens), adding a digital-first dimension to credentialing.
Kamal Youssefi, President of The Hashgraph Association, stated, “At The Hashgraph Association, we are proud to continue supporting organizations that deliver environmentally sustainable finance solutions in an innovative and compliant way. A recent environmental impact study by University College London (UCL) comparing different distributed ledger networks proved that Hedera is the world’s most sustainable network. The Global Center for Sustainable Digital Finance fits perfectly into our Hedera Enablement Program, furthering THA’s efforts to expand research and development in Web3 and support sustainable initiatives.”
A recent survey of 37 UNDP country offices revealed that sustainable digital finance is a priority for many nations, yet only 40% have a digital finance strategy. THA’s partnership with the Global Centre for Sustainable Digital Finance aims to fill this gap by bridging digital finance and sustainability through innovative, education, impactful research and implementation.
Thomas Puschmann, Founder and Executive Director of Global Center for Sustainable Digital Finance, states, “We are very pleased to be working with The Hashgraph Association. Sustainable digital finance has the potential to build inclusive, safe digital foundations, and technologies such as DLT, AI, and IoT, helping to increase transparency and reliability of information, especially in the climate financing domain. These foundations also aid in tackling corruption issues when funding SDG (Sustainable Development Goals) projects.”
The Hashgraph Association launched a $50 million Sustainability Venture Studio for enterprises earlier this year and has also partnered with Deloitte to enhance the verification of corporate ESG impact, reporting, and sustainability claims, leveraging the Hedera Guardian as the trusted balance sheet of the earth. Collaborating with Deloitte NL Risk Advisory B.V. in the Netherlands, this partnership focuses on enabling corporations to measure, track, report, and tokenize evidence-based ESG impact and sustainability claims on Hedera and ensuring a carbon-neutral future.
Kamal Youssefi, President of The Hashgraph Association is available for an interview upon request
About Global Center for Sustainable Finance
The financial system is currently being transformed by digitization and sustainability. However, existing knowledge on the topic of Sustainable Digital Finance, which bridges both areas, is still rare and a more comprehensive understanding of the domain is a missing component. The Global Center for Sustainable Digital Finance focuses on this domain and aims to develop innovative approaches (research), accelerate those approaches (impact), and train students and practitioners to foster innovation on a global scale (education).
About The Hashgraph Association
The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, which includes supporting and funding of training, innovation, and venture-building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association provides funding for innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact.
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For Media Enquiries:
Dustin Rotenberg, Chief Marketing Officer
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/the-hashgraph-association-pledges-1-5m-to-global-centre-for-sustainable-digital-finance-302325106.html
Fintech PR
Thomson Reuters named a Leader in 2024 IDC MarketScape for Worldwide SaaS and Cloud-enabled Sales and Use Tax Automation Software for Enterprise
TORONTO, Dec. 6, 2024 /PRNewswire/ — Thomson Reuters (NYSE/TSX: TRI), a global content and technology company, today announced that it has been positioned as a Leader in two IDC MarketScape reports – IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Enterprise 2024 Vendor Assessment (doc #US52035324, December 2024), and IDC MarketScape: Worldwide Value-Added Tax Management Applications 2024 Vendor Assessment (doc #US52732824, December 2024).
“In today’s rapidly evolving global marketplace, tax compliance has become increasingly complex for multinational corporations. At Thomson Reuters, we’re committed to empowering our customers with cutting-edge technology that not only ensures compliance but also enhances their competitive edge,” said Ray Grove, head of Corporate Tax and Trade at Thomson Reuters.
“We believe our recognition as a Leader in both the enterprise SUT and VAT markets in this IDC MarketScape underscores our unwavering dedication to our customers’ success. Through our trusted ONESOURCE solutions, serving over 205 countries and territories, we continue to push the boundaries of innovation. Our vision is to create a seamlessly connected suite of global indirect tax calculation, reporting, and e-invoicing capabilities, providing best-in-class technology to enable our customers to navigate the complexities of tax compliance with confidence and agility.”
“Businesses of all sizes are grappling with an increasingly complex tax landscape, and they are turning to technology vendors for sophisticated tax automation solutions that seamlessly integrate, ensure compliance, and boost operational efficiency,” said Kevin Permenter, research manager at IDC. “Thomson Reuters has consistently demonstrated its commitment to innovation and customer success in the SaaS and cloud-enabled Value-Added Tax automation software market. Their ONESOURCE platform stands out for its comprehensive global coverage, robust integration capabilities, and advanced features powered by edge computing and AI. They are positioned well to address the evolving needs of businesses facing intricate tax compliance challenges across multiple jurisdictions.”
Pagero, part of Thomson Reuters, was also recently named a Leader in the IDC MarketScape: European Compliant e-Invoicing 2024 Vendor Assessment (doc #EUR151806424, September 2024). As a key part of Thomson Reuters e-invoicing offering, ONESOURCE Pagero supports businesses to accelerate growth with trusted, automated e-invoicing software that streamlines global compliance processes to unlock valuable business insights.
Thomson Reuters ONESOURCE offers comprehensive tax compliance solutions, including automated tax return preparation and filing for Sales and Use Tax and VAT. It integrates with major ERPs and provides tax determination and calculation for all transactions. ONESOURCE also features edge computing for faster, more controlled tax calculations. Recently, Thomson Reuters launched ONESOURCE with CoCounsel globally, integrating generative AI assistance. This enhanced solution combines a new AI Product Support skill with CoCounsel, Thomson Reuters professional-grade generative AI assistant that provides instant, natural-language answers drawn from Thomson Reuters trusted, proprietary content.
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.
Thomson Reuters
Thomson Reuters (NYSE / TSX: TRI) (“TR”) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world leading provider of trusted journalism and news. For more information, visit tr.com.
Media contact
Kirsty Bennett
Director, Customer and Product PR
[email protected]
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