Fintech PR
IDA, a Hong Kong-based Fiat-referenced Stablecoin Issuer, Raised USD6 Million Seed Round Led by CMCC Global and Hashed
HONG KONG, Sept. 2, 2024 /PRNewswire/ — IDA, a premier Hong Kong-based digital asset company, has raised USD6 million in a seed funding round led by prominent blockchain investors CMCC Global, under its Titan Fund, and Hashed. This capital injection will enable IDA to advance the development and launch of its first fiat-referenced stablecoin, HKDA, which is designed to be regulated in Hong Kong.
Additional participants in this round also include Hack VC, Anagram, GSR, Protagonist, Brinc, Chorus One, Kenetic, SNZ, and Yolo Investments as well as notable angel investors, such as Raj Gokal, Co-founder of Solana. Aside from providing funding, leading blockchain foundations of Solana, Polygon, Aptos, and Mantra are also IDA’s strategic blockchain partners to foster HKDA’s interoperability, accessibility, resilience, and liquidity.
“With the current total stablecoins market cap around USD170 billion, we expect stablecoins to grow over USD3 trillion in the next 5 years. This exponential growth will underscore the increasing significance of stablecoins in the broader digital currency landscapes. Thus, IDA’s mission is to facilitate more effective and efficient cross-border trades through the blockchain for everyone,” said Lawrence Chu, Co-founder and CEO of IDA.
Sean Lee, Co-founder and CSO of IDA added, “the first goal of IDA is to enable mass adoption and empower businesses to seamlessly integrate between Web2 and Web3. To achieve this, IDA has begun active engagements with the Hong Kong Monetary Authority (HKMA) and the Financial Services and the Treasury Bureau (FSTB), as well as domestic partners in the ecosystem, to issue regulated stablecoins in Hong Kong. HKDA, our first fiat-referenced stablecoin built on public blockchains, will shortly be heading onto testnet. We intend for our mainnet launch before the end of this year and achieve regulatory clarity in early 2025.”
CMCC Global, one of Asia’s first VC funds focused purely on blockchain and cryptocurrency, is thrilled to lead this funding round and partner with IDA to push the boundaries in Web3 space. “As a Hong Kong-based company, we are excited to support innovative Web3 companies like IDA that are leveraging blockchain finance and stablecoins to create solutions addressing real-world challenges,” said Martin Baumann, Co-founder and Managing Partner of CMCC Global.
Hashed, a global early-stage venture fund focused on backing founders who are pioneering the future of blockchain and cryptocurrency, also shares the same vision as IDA. “We anticipate wider mainstream adoption of stablecoins in real-world trades and settlements. With Hong Kong’s position as Asia’s financial hub and its recent push for a stablecoin legislative framework, we expect IDA to spearhead the coming changes. Their unique blend of expertise in traditional finance and blockchain technology positions them perfectly to bridge conventional and digital financial systems, potentially reshaping finance across Asia and beyond,” said Ryan Kim, Founding Partner at Hashed.
Starting initially in Hong Kong, IDA will leverage the forefront of fintech and Web3 to reach other countries whose currency is also pegged to the USD. Over time, IDA aims to share their innovations and grow their business to other nations along the Belt and Road and Global South initiatives. More exciting partnerships will be announced to unlock a more inclusive and connected global marketplace.
Note: The current total stablecoins market cap is based on the data provided by defillama.com at 18:00 HKT on 2024-08-26.
About IDA Finance Hong Kong Limited (IDA)
IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.
HKDA, a fiat-referenced stablecoin built on public blockchain protocols, will be the first product launched by IDA. HKDA is designed to drive enhanced digital connectivity for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating HKDA will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.
To maximize the network effect of HKDA for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of HKDA as a payment and settlement digital currency. In subsequent phases, IDA will also launch key products denominated in other US Dollar (USD) pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms.
More information can be found at www.idafi.xyz / LinkedIn / X
About CMCC Global & Titan Fund
CMCC Global is one of Asia’s first venture capital companies focused solely on blockchain and Web3 investments. CMCC Global has an enviable record of investing early in leading projects such as Ethereum (ETH) at USD7, Solana (SOL) at USD0.20 and Cosmos (ATOM) at USD0.10. CMCC Global has reached assets under management (AUM) of over USD500 million across its funds and is known as a high-conviction investor. Today the company has offices in Asia, North America and Europe and operates several funds with different strategies including the CMCC Global Digital Asset Fund, the Titan Fund and its two funds of quantitative trading hedge funds Crest and SYZCrest.
More information can be found at www.cmcc.vc
Titan Fund offers accredited investors exposure to attractive growth opportunities within the blockchain ecosystem through a traditional equity venture capital investment strategy focusing on seed to series A/B along the key investment verticals of Infrastructure, Fintech and Consumer Applications. The Titan Fund is CMCC Global’s latest fund strategy and complements its Digital Asset Funds, which have been investing directly into protocols and digital assets since 2016, and its Crest family of funds that invests into crypto and quant funds.
More information can be found at www.titan.fund
About Hashed
Founded by a team of serial entrepreneurs and engineers in 2017, Hashed is the preeminent blockchain firm in Asia with a portfolio that spans the globe. We started Hashed because we saw an opportunity for blockchain to not only reinvent the global financial system, but the very fabric of the internet itself. This is one of the most consequential moments in human history — an opportunity to overlay the power of digital networks onto human ones, and to usher in a future where technology empowers individuals, and not the other way around.
More information can be found at www.hashed.com
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Fintech PR
JLL APAC Applauded by Frost & Sullivan for Enhancing Property Performance and Delivering Customer Value in Real Estate
JLL APAC’s deep industry expertise, state-of-the-art capabilities, and customer-driven approach position it to redefine the FM industry and reinforce its leadership.
SAN ANTONIO, Jan. 8, 2025 /PRNewswire/ — Frost & Sullivan recently researched the facility management industry and, based on its analysis, recognizes Jones Lang LaSalle (JLL) Asia-Pacific (APAC) with the 2024 Asia-Pacific Company of the Year Award. The company is a global real estate leader that helps enterprises optimize real estate strategies to meet their operational needs and business goals. The company offers comprehensive solutions and services across the real estate spectrum, including integrated facility management (IFM). With its innovative, cutting-edge solution suite, JLL APAC enhances property performance, fosters ideal work experiences, and delivers value for clients spanning multiple industries, such as finance, government, information technology, and manufacturing. It integrates advanced technology, leverages scientific insights, and designs sustainable spaces to drive innovation and deliver significant customer value. The company goes beyond traditional FM practices, exploring neuroscientific principles to develop its innovative solutions.
JLL APAC’s Work Science initiative studies unique individual work patterns and diverse cognitive styles to power its human-centric workspace designs and create optimal work environments. It enhances workforce productivity, collaboration, and employee well-being and satisfaction. Aimed at helping C-suite executives and senior leaders tackle complex challenges and drive their organizations forward, the value-added JLL Future Labs service curates immersive, multi-sensory collaboration experiences that foster innovative thinking and synergy and accelerate decision-making. JLL APAC leverages artificial intelligence (AI) and machine learning to unify operations among diverse facility management stakeholders and eliminate data silos, enhancing collaboration and decision-making toward optimized building performance. Its comprehensive AI-enhanced JLL Serve FM application streamlines operations, automates processes, digitizes maintenance and reporting, and provides real-time visibility to optimize building usage, minimize costs, save time, and boost returns.
Janice Wung, industry principal at Frost & Sullivan, observed, “JLL APAC’s bold approach to exploring innovative insights beyond traditional FM scope, such as neuroscientific principles, enhance its solutions and deliver impactful results. Its foresight in technology integration is a key differentiator, empowering the company to remain at the forefront of the industry and capitalize on emerging market opportunities.”
JLL APAC’s Smart Building Platform helps clients enhance operational performance with real-time and remote asset monitoring, enabling continuous oversight, rapid problem detection, predictive maintenance, and improved occupant comfort. The platform drives cost optimization, enhances operational efficiency, and promotes sustainability while ensuring occupant comfort and safety. JLL APAC’s expert integration of the Internet of Things, big data, and intelligent technology enhances service excellence, promoting sustainability and propelling the FM industry into the future. Furthermore, its world’s first large language model specifically for the commercial real estate industry, the JLL Generative Pre-trained Transformer (JLL GPT) AI platform, performs comprehensive multi-source data analytics to provide clients with intelligent insights that drive informed strategies and enhance returns. JLL APAC’s customer-centric and collaborative approach, deep expertise, and reliability in addressing client pain points resulted in an impressive global Net Promoter Score of 100%, establishing a new regional record. Regardless of macroeconomic and business conditions, its steady growth momentum positions it to thrive and continue expanding its market presence.
“JLL APAC prioritizes mutual interests to drive value creation and sustainable growth for all stakeholders involved, redefining business partnerships in the FM industry. By adopting progressive, customer-centric strategies and fostering enduring relationships through collaboration, value creation, and service excellence, JLL APAC is well-positioned to lead the FM industry into the future,” added Rubini Kamal, best practices research analyst at Frost & Sullivan. With its strong overall performance, JLL APAC earns Frost & Sullivan’s 2024 Asia Pacific Company of the Year Award in the facility management industry.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.
Contact:
Tarini Singh
E: [email protected]
About JLL APAC
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit www.jll.com
View original content:https://www.prnewswire.co.uk/news-releases/jll-apac-applauded-by-frost–sullivan-for-enhancing-property-performance-and-delivering-customer-value-in-real-estate-302344657.html
Fintech PR
PostEra announces expansion to $610M in their AI drug discovery collaboration with Pfizer
BOSTON, Jan. 7, 2025 /PRNewswire/ — PostEra, a biotechnology company specializing in machine learning for preclinical drug discovery, today announced an expansion of their partnership with Pfizer. The parties will launch a new Antibody-Drug-Conjugate (ADC) collaboration while also expanding their existing $260M AI Lab collaboration, which itself was built upon a successful Generative Chemistry partnership.
The teams will leverage PostEra’s AI platform, Proton, a pioneering innovation in generative chemistry and synthesis-aware design, to advance several programs. These new programs include small molecule therapeutics as well as ADCs, where PostEra will use Proton to optimize properties of payloads.
PostEra will receive an upfront payment of $12M and is eligible to receive additional milestone payments and tiered royalties on any approved products arising out of the collaboration.
Over the last 3 years, as part of the AI Lab, PostEra and Pfizer scientists have partnered closely to advance several small molecule programs. After Pfizer nominated the maximum number of programs, the teams have agreed to expand the collaboration to include additional targets with PostEra receiving additional upfront payment and eligibility for milestones and royalties.
“We’re pleased to significantly expand the use of PostEra’s Proton platform. This builds on peer-reviewed publications with Pfizer validating the real-world impact of AI-driven drug discovery in hitting preclinical milestones faster than anticipated,” said Alpha Lee, Chief Scientific Officer of PostEra. “This third partnership with our long-term collaborators at Pfizer underscores Proton’s depth and strength in making a meaningful impact on real-world drug discovery campaigns,” added Aaron Morris, CEO of PostEra.
About PostEra
PostEra is building a modern 21st century biopharma. We use Proton, our AI platform for medicinal chemistry, to accelerate the discovery of new medicines for patients. PostEra is advancing an internal pipeline while also advancing small molecule programs through partnerships with biopharma. We’ve closed over $1Bn in AI partnerships including 4 multi-year agreements with Pfizer and Amgen. PostEra is also leading an antiviral drug discovery center for pandemic preparedness, funded by one of the largest grants in NIH history.
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View original content:https://www.prnewswire.co.uk/news-releases/postera-announces-expansion-to-610m-in-their-ai-drug-discovery-collaboration-with-pfizer-302342058.html
Fintech PR
Radius Global Market Research Acquires Illuminas North America
The partnership combines Radius’s strategic insights framework with Illuminas’s expertise in the technology and financial services sectors, thereby strengthening Radius’s capabilities across B2B and consumer markets.
NEW YORK, Jan. 7, 2025 /PRNewswire/ — Radius Global Market Research, a leading global insights and strategy firm, has announced its acquisition of Illuminas North America, a multidisciplinary research consultancy with headquarters in Austin, Texas. The acquisition strengthens Radius’s ability to deliver actionable insights for its global clients and enhances its expertise in supporting strategic insights needs of clients across industries.
Financial details were not disclosed.
Combining Expertise for Greater Insights
The acquisition integrates Radius’s Brand Growth Navigator framework with Illuminas’s strength in data science and deep expertise with technology and service-related industries. Illuminas is renowned for bridging gaps in customer understanding through tailored, data-driven solutions that illuminate optimal paths to success and drive growth for global brands.
“Illuminas’s proven capabilities in technology-focused research and their expertise in supporting B2B companies make them an ideal partner for Radius,” said Chip Lister, managing director of Radius Global Market Research. “This partnership enhances our ability to deliver insights that address critical business challenges for our clients, especially in industries where technology and innovation are key drivers of success.”
Expanding Capabilities for Clients Worldwide
Founded in 2002, Illuminas North America has built a reputation as a trusted partner for Fortune 500 companies and industry leaders. With deep expertise in technology, financial services, and dynamic global markets, Illuminas employs innovative and foundational research techniques, including quantitative and qualitative tools, to deliver insights that go beyond data to uncover compelling narratives.
“Our partnership with Radius will allow us to expand the reach and impact of our work,” said Jay Shutter, Principal and CEO of Illuminas. “By combining our customer-focused methodologies with Radius’s strategic insights framework, we’ll be better equipped to deliver actionable research that empowers our clients to make confident, informed decisions. This is a tremendous opportunity to enrich the value we provide to clients across the globe.”
Global Reach and Local Expertise
Illuminas North America’s offices in Austin, Texas, and Great Falls, Virginia, will enhance Radius’s ability to deliver insights worldwide. This acquisition follows Radius’s January 2025 acquisition of 7th Sense and its January 2024 acquisition of London-based Strive Insight, further extending the firm’s global footprint. Together, Radius and Illuminas will provide a seamless integration of advanced research tools and industry-specific expertise to support clients in achieving their goals.
About Radius Global Market Research
Founded in 1960, Radius is a full-service marketing research consultancy headquartered in New York City, with offices across the U.S. and globally. Radius supports brand growth through its Brand Growth Navigator framework, helping clients align insights with strategic priorities to maximize ROI. Its expertise spans industries, including technology, financial services, and consumer goods. Visit www.radiusinsights.com for more information.
About Illuminas North America
Illuminas is a strategic market research consultancy founded in 2002, specializing in bridging gaps in customer understanding. Headquartered in Austin, Texas, with an office in Great Falls, Virginia, Illuminas provides customized research solutions using proprietary methodologies to uncover insights for technology, financial services, and hospitality industries. The team combines quantitative and qualitative research methods to deliver insights that empower decision-making and drive business growth. Visit www.us.Illuminas.com for more information.
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View original content:https://www.prnewswire.co.uk/news-releases/radius-global-market-research-acquires-illuminas-north-america-302344596.html
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