Fintech PR

Crypto Investors Remained Resilient During Market Downturn, Gemini Report Finds

Published

1 week ago

September 10, 2024

Gemini’s 2024 Global State of Crypto found that the majority of crypto owners are HODLers across the US, UK, France, and Singapore.

NEW YORK, Sept. 10, 2024 /PRNewswire/ — Today, crypto platform Gemini released its 2024 Global State of Crypto report, finding that crypto adoption remained steady across the United States (21%) and United Kingdom (18%) from 2022 to 2024. The number of crypto owners in France (18%) rose slightly from 2022 (16%), while Singapore ownership dropped slightly from 30% to 26%.

The consistency in ownership is due in part to crypto owners’ attitudes toward the asset class. Nearly two in three crypto owners across these geographies (65%) report buying and holding cryptocurrency for its long-term investment potential, and nearly two in five (38%) hold cryptocurrency as a hedge against inflation.

On November 14, 2022, the combined value of the top 100 cryptocurrencies had dropped to $830 billion, down from $2.7 trillion the year earlier. In 2024. The number of past owners rose slightly in each geography, suggesting that some crypto owners left the market during the downturn. However, more than 70% of past owners report a potential return to the market.

Other key findings include:

Lack of regulatory clarity is a barrier to entry: In the US and UK, nearly two in five (38%) non-owners cited regulatory concerns as a barrier to investing in crypto. In France, nearly one in three (32%) said the same, and in Singapore nearly half (49%) of respondents said crypto regulations were a concern.
The majority of crypto owners want to allocate 5% or more to digital assets: The majority (57%) of crypto owners say they are comfortable making crypto a core part of their investment portfolio. More than one in four (27%) of past owners said the same, signaling many may soon be re-entering the crypto market.
The gender gap in crypto ownership persists, but women are just as likely to HODL: The split between male and female ownership was slightly more pronounced in 2024 compared to 2022, with 69% of crypto owners identifying as male and 31% identifying as female, compared to 58% and 42% in 2022, respectively. However, women are just as likely as their male counterparts to buy and hold for the long term.
Spot crypto exchange traded funds (ETFs) bring growth: In the US, nearly two in five (37%) cryptocurrency owners surveyed said they hold some crypto through an ETF. More than one in ten (13%) own crypto exclusively through an ETF, suggesting they entered the market through ETFs when they were introduced this year.
Crypto has become a US election issue for the first time: The vast majority of crypto owners in the United States (73%) plan to consider a candidate’s digital asset policies when they vote for the next president of the United States.

“Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception,” said Marshall Beard, COO at Gemini. “The introduction of spot crypto ETFs in the United States and the significant headway towards thoughtful regulation in many jurisdictions globally has positioned the industry for strong growth as retail investors rejoin the crypto market or get started for the first time.”

The countries surveyed in the 2024 State of Crypto study were selected because they are nations where Gemini either currently operates or is exploring operations in the future. In addition to the United States, United Kingdom, France, and Singapore, Gemini also surveyed Turkey for the first time this year.

Turkey is overwhelmingly positive toward crypto, with the majority of respondents (58%) reporting owning crypto. An even larger majority of both owners and non-owners (65%) said they were likely to purchase crypto in the next year. Crypto owners in Turkey were significantly more likely to actively trade crypto (62%) compared to owners in other countries surveyed (43%).

Methodology

The 2024 Global State of Crypto report is based on a survey conducted with 6,000 adults across the US, UK, France, Singapore, and Turkey. The survey was conducted online between May 23, 2024 and June 28, 2024 on behalf of Gemini by Data Driven Consulting Group. The total sample has been balanced and is generally representative of the adult population in each country ages 18 to 75 with household incomes of $14,000 USD or more. Data cited in the report as “2022” was from a survey conducted online between November 23, 2021 and February 4, 2022, also on behalf of Gemini by Data Driven Consulting Group.

About Gemini

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Gemini is a global crypto and Web3 platform founded by Cameron and Tyler Winklevoss in 2014. Gemini offers a wide range of crypto products and services for individuals and institutions in over 70 countries. Gemini’s simple, reliable, and secure products are built to unlock the next era of financial, creative, and personal freedom.

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Fintech PR

J&T Express Achieves Strong Growth in 9.9 Mega Sales Through Refined Operations

Published

2 hours ago

September 19, 2024

CISION (PR Newswire)

j&t-express-achieves-strong-growth-in-9.9-mega-sales-through-refined-operations

HONG KONG, Sept. 19, 2024 /PRNewswire/ — J&T Global Express Limited (“J&T Express” or “J&T” or “the Company”, stock code: 01519.HK), a global logistics service provider, announced a substantial increase in parcel volume during Southeast Asia’s 9.9 Mega Sales, one of the region’s largest annual e-commerce shopping festivals. Held from 9 to 11 September, major e-commerce platforms offer consumers a range of promotional deals during this peak shopping period.

Thanks to strengthened partnerships with key e-commerce platforms and a focused expansion into non-e-commerce sectors, J&T Express experienced strong parcel growth during the 9.9 sale. Compared to August 2024, parcel volumes across multiple Southeast Asian markets surged by over 20%. Year-on-year, several countries saw their business volumes double compared to the same promotional period in 2023.

Hou Junyi, Vice President of J&T Express, commented, “Our robust performance during the 9.9 mega sale reflects the enormous growth potential of Southeast Asia’s e-commerce market and demonstrates J&T’s continued service enhancements in the region. Beyond e-commerce, we’re also expanding into new sectors, offering reliable, efficient logistics solutions to more clients. We’ll continue strengthening our network and investing in operational resources to deliver exceptional service as always.”

J&T Express is expanding its partnerships with a more diverse client base across Southeast Asia. In Thailand, the Company has become the logistics partner for leading consumer finance brand KTC, Business for Healthy Brand Legacy Corp, Watsons, and Apple-authorized reseller SPVI, managing their online and offline orders. In the Philippines, J&T partnered with Dito, one of the country’s top telecom operators, doubling its delivery volume during this year’s 9.9 mega sale.

To meet growing demand and peak season volumes, J&T Express has continued to ramp up its local investments and network enhancements across Southeast Asia. By the end of August, the Company upgraded 11 sorting centers and added 9 distribution hubs across the Philippines, boosting sorting capacity by 1.5x. It also secured 1.5x additional third-party transport resources to support the surge in sorting, deliveries, and customer service during the shopping festival.

In Vietnam, J&T introduced 400 additional line-haul vehicles, and the Company’s largest sorting center in Northern Vietnam is set to go live soon. Equipped with intelligent operational technology and advanced equipment, the center will automate every stage of the process, achieving a 99.99% accuracy rate in parcel handling and significantly enhancing operational efficiency.

About J&T Express

J&T Express is a global logistics service provider with leading express delivery businesses in China and Southeast Asia, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

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Fintech PR

MSB and TerraPay Collaborate to Simplify and Enhance Cross-Border Money Transfers

Published

2 hours ago

September 19, 2024

CISION (PR Newswire)

HANOI, Vietnam, Sept. 19, 2024 /PRNewswire/ — Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) has signed a strategic cooperation agreement with TerraPay, a global money movement company. This collaboration will bring digital payment solutions and data capabilities to help MSB enhance efficiency and offer the best payment service experience to customers by bringing down costs and reducing transaction times.

According to forecasts from the Bank of England, the cross-border payment market is expected to grow by over USD 100 trillion in the next decade, reaching over USD 250 trillion by 2027. Along with the pace of digitization, the demand for real-time global payments is becoming increasingly urgent. However, unlike domestic transfers, international money transfers continue to be complex, time-consuming, and costly, even today.

In response to this reality, the new partnership between MSB and TerraPay aims to break down these barriers, enabling the use of financial services more quickly, conveniently, and reliably. According to the cooperation agreement, MSB and TerraPay will provide payment solutions, payment infrastructure, and other products and services to partners and (or) customers; simultaneously introducing each other’s products and services to the partner’s customers who have a need for them. Both companies will focus on supporting small and medium-sized enterprises (SMEs) with global money transfer needs. Through this partnership, SMEs will benefit from quick, convenient, and cost-effective global payout solutions.

Mr. Nguyễn Thế Minh, Deputy General Director of MSB, believes that, “The cooperation between the two parties will bring numerous benefits and economic efficiencies for Vietnamese businesses in both domestic and international payments.”

Sudhesh Giriyan, President – Cross border payments at TerraPay said, “Our partnership with MSB is a big step towards enhancing global payments for businesses across Vietnam. We are excited to work together, combining our strengths and expertise, to transform the broader landscape while furthering our mission of simplifying global money movement.”

Along with efforts in digital transformation, MSB continues to build and seek appropriate financial solutions through reputable partners to bring superior value and experience to customers.

For more information on solutions for corporate customers, please click msb.com or contact the hotline: 18006260.

About MSB

Established in 1991, MSB has continually grown, achieving many important milestones in the financial banking industry over nearly 33 years. MSB currently has over 260 branches and transaction offices nationwide, and it transacts with over 500 correspondent banks in more than 60 countries and territories. MSB has over 6,000 staff, serving more than 5.4 million individual customers and nearly 100,000 corporate customers.

About TerraPay

TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 30+ global markets and enabling payments to 140+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.4Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay has built the global digital wallet interoperable network and pushes the boundaries for global businesses – ranging from digital wallets, banks, fintech and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is a global company headquartered in London and comprising 42 nationalities. It has global offices in Bangalore, Dubai, Bogota, Dar es Salaam, Kampala, The Hague, Johannesburg, Nairobi, Milan, and Singapore, and is expanding rapidly. We have received funding from leading investors, including the IFC (World Bank), Prime Ventures, Partech Africa, and Visa.

Contact:
Juveria Samrin,
[email protected]

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Fintech PR

Markel appoints April Tam as Senior Underwriter, PFR & Cyber and Head of Financial Institutions, Asia

Published

3 hours ago

September 19, 2024

CISION (PR Newswire)

markel-appoints-april-tam-as-senior-underwriter,-pfr-&-cyber-and-head-of-financial-institutions,-asia

SINGAPORE, Sept. 19, 2024 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE: MKL), is pleased to announce the appointment of April Tam as Senior Underwriter, Professional Financial Risk (PFR) & Cyber and Head of Financial Institutions in Asia. This strategic hire is integral to advancing Markel’s profile and reinforcing its leadership position in the PFR sector.

In her new role, Tam will be instrumental in strengthening Markel’s Financial Institutions proposition in Asia. Working in collaboration with the regional underwriting team across Asia, Tam will focus on driving continued profitable growth of the company’s PFR book and ensuring its scalability and diversification. She will also be responsible for forging strong relationships with insurance brokers, clients and partners in the region.

Tam joins Markel from Allianz Commercial, where she was most recently employed as Financial Institutions Practice Leader, Asia. Prior to joining Allianz Commercial in 2018, Tam gained expertise at Zurich Insurance Group. With more than 12 years’ experience in Financial Lines underwriting, Tam brings a wealth of expertise, broker relationships and a proven track record to Markel.

Based in Hong Kong, Tam will report to Kevin Leung, Chief Underwriting Officer, Asia Pacific.

Leung commented: “I’m excited to welcome April to our team in Hong Kong. Her extensive experience and deep understanding of Financial Lines underwriting will be of huge importance as we continue to expand and enhance our PFR offerings. I’m confident that April’s expertise and strong networks will significantly help to contribute to our strategic objectives and strengthen our position in the Asia market.”

About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.