Fintech PR
Sweat Wallet Adds Five Major Chains Through Chain Abstraction; Enables Payment of Blockchain Fees With Steps
Building on its promise of inclusivity and ease of use, the move enables $SWEAT’s 16 million token holders to benefit from access to Ethereum, BNB Chain, Arbitrum, Optimism, and Base
LONDON, Sept. 18, 2024 /PRNewswire/ — Sweat Economy, the project tokenizing physical movement with $SWEAT token and Sweat Wallet, has reached a major milestone. In its mission to onboard the next billion users into Web3 through advanced chain abstraction technology, it has enabled seamless integration with five leading blockchains. Sweat Wallet is now compatible with Ethereum, BNB Chain, Arbitrum, Optimism, and Base.
The move empowers over 16 million $SWEAT token holders with enhanced access to decentralized applications (dApps) across these leading chains. Sweat Economy’s decision to integrate with these five chains marks a step forward in lowering the technical barriers for new users entering the crypto space. In addition to strengthening Sweat Wallet’s offering, the move positions the platform to become a key player in the broader blockchain movement–enabling millions to explore the full potential of Web3 dApps.
Sweat Wallet’s focus is to make the Web3 experience even simpler than Web2. Its users will notice three big changes implemented vs existing offerings:
- All assets across all chains are aggregated into one portfolio view on a single screen.
- Any asset on any chain can be managed using one single key simplifying operational security in the pursuit of mass adoption.
- $SWEAT – tokenized physical movement – will become a universal gas token across all of the supported chains allowing users to “Pay your fees with your feet” reducing your out-of-pocket costs. And more – there is no more juggling of multiple gas tokens.
Oleg Fomenko, Co-Founder of Sweat Economy, said, “One of our primary goals has always been to make Web3 useful and accessible to everyone, and this latest product helps us to achieve that. By abstracting the complexity of multiple chains into one simple wallet experience, we enable millions of users to effortlessly engage with the decentralized world, and manage their assets with a single key simplifying security and allowing millions of people to pay their fees with their feet. Literally! This expansion is not just about technology, it’s about making the world more physically active and wealthier on a global scale.”
Within the Sweat Wallet app, users can mint $SWEAT simply by walking. Accrued $SWEAT can then be used in various ways, including trading it for other mainstream tokens such as ETH and USDT, filling up “Growth Jars” to be saved and multiplied, and unlocking exclusive rewards within the ecosystem. Users can also participate in casual games and prize draws. What’s more, in the process of unlocking access for users to various chains, Sweat Economy enables them to pay off their gas fees with $SWEAT, which daily step counts can earn. In a recent demonstration, Sweat Economy executed a transaction on BNB Chain which was signed and triggered from NEAR and paid for in $SWEAT.
Oleg Fomenko, co-founder of Sweat Economy is available for interviews
About Sweat Economy
Sweat Economy is a Web3 ecosystem on a mission to help the world be more physically active by incentivizing movement. It is powered by $SWEAT, a crypto asset capturing the value of physical movement, minted by steps. The token is managed via the Sweat Wallet dApp, the non-custodial Web3 mobile wallet dApp for managing your $SWEAT and other crypto holdings. Sweat Wallet is a top 5 dApp globally, boasting over 1.5 million monthly unique active users on the platform. Users can start earning $SWEAT and participate in the movement economy by installing the free Sweat Wallet app on Google Play or the App Store.
View original content:https://www.prnewswire.co.uk/news-releases/sweat-wallet-adds-five-major-chains-through-chain-abstraction-enables-payment-of-blockchain-fees-with-steps-302249341.html
The January editions of FinTech Magazine and InsurTech Digital contains exclusive insights from EY, Hiscox & Storebrand.
LONDON, Jan. 8, 2025 /PRNewswire/ — BizClik, the UK’s fastest-growing publishing company, has published the latest editions of FinTech Magazine and InsurTech Digital. These publications are highly regarded voices within the Financial Sector for their in-depth reports and interviews with prominent figures in the industry.
FinTech Magazine
This month’s edition features an extensive lead report with Chris Schmitz, EMEIA FinTech Leader at EY.
“Many industry players, particularly in insurance and asset management, have no experience providing real-time data through API infrastructure.”
The edition also contains extensive interviews with key thought leaders from Storebrand, Abu Dhabi’s Department of Culture and Tourism & CFC. Plus, the Top 10: Finance Trends.
You can visit FinTech Magazine for daily news and analysis of the ever-changing financial industry.
InsurTech Digital
This month’s edition features an extensive lead report with Eddie Lamb, CISO at Hiscox, as he uncovers the wide-ranging costs of cyber-attacks, the changing threat landscape and the power of cyber resilience.
“Although cyber-attacks can have significant financial consequence, the impact on customer trust and brand reputation can be even more costly.” – Eddie Lamb, CISO at Hiscox
The edition also contains extensive interviews with key thought leaders from Innovation Group, EY and Hagerty. Plus, the Top 10: Sustainability Leaders in Insurtech.
You can visit InsurTech Digital for daily news and analysis of the ever-changing insurance industry.
About BizClik
BizClik is one of the fastest-growing digital media companies in the UK, host to a growing portfolio of industry-leading global brands and communities.
BizClik’s expanding portfolio includes Technology, AI, FinTech, InsurTech, Supply Chain, Procurement, Energy, Mining, Manufacturing, Healthcare, Mobile, Data Centre, Cyber, and Sustainability.
For more information, please visit our website.
View original content:https://www.prnewswire.co.uk/news-releases/bizclik-media-launches-january-editions-of-fintech-magazine–insurtech-digital-302345742.html
Research reveals mounting worries amongst UK banking customers about IT outages at financial institutions
LONDON, Jan. 8, 2025 /PRNewswire/ — As digital banking becomes the norm, over a third (34%) of Brits are worried about the potential of IT failures at their banks, and 25% now keep cash on hand as a precaution against outages.
This trend reflects the growing uncertainty consumers feel about the reliability of digital financial services, as the availability of in-person banking continues to decline.
Over the past year, one in six (17%) people have been affected by IT failures within their banks, facing an average disruption time of six hours, with customers unable to access their funds or pay for essential goods and services.
This data comes from GFT’s latest Banking Disruption Index, a bi-annual assessment of consumer sentiment towards digital banking.
The research also uncovered growing concern about the security and resiliency of third-party technology providers supporting banks, with 38% of respondents worried about the potential of these organisations to cause an IT outage at a bank, highlighting a broader scepticism around the security and reliability of outsourced digital services.
Additionally, 42% of those surveyed said they were wary of cyber-attacks, fearing that an outage could lead to personal information theft. This underscores the growing expectation for banks to protect both consumer data and access to funds.
Richard Kalas, Client Solutions Director, Retail Banking at GFT, said: “These findings reveal a clear disconnect between the rapid digitalisation of banking services and consumer confidence around the security and resilience of these measures. While digital banking offers numerous benefits, it’s essential that banks continue to clearly demonstrate the various measures they are taking to ensure all critical customer services are resilient.”
The role of banks in enhancing security
As digital banking continues to grow, so do consumer concerns about security and reliability. In response, banks are under increased pressure to strengthen their resilience strategies, ensure operational stability, and better safeguard customers.
To meet these expectations, financial institutions must continue to invest in robust IT infrastructure and cybersecurity measures, and partner with trusted organisations to effectively prevent and swiftly recover from outages.
What’s more, under recent Payment Systems Regulator (PSR) guidelines effective from 7th October, banks must now refund fraud victims up to £85,000 within five days. By shifting a significant portion of responsibility back to banks, the regulation reinforces the importance of customer protection and proactive fraud prevention.
To download the full Banking Disruption Index report, please follow this link.
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View original content:https://www.prnewswire.co.uk/news-releases/new-gft-research-reveals-1-in-4-brits-keep-cash-on-hand-amid-growing-it-failure-concerns-302345598.html
Fintech PR
Markel appoints Grant Smith to lead its Transport and Logistics team in International Specialty
LONDON, Jan. 8, 2025 /PRNewswire/ — Markel, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that Grant Smith is to head up its Transport and Logistics team, with immediate effect.
In his expanded role, Smith will be responsible for defining the underwriting strategy for the Transport and Logistics team, centered on driving sustainable, profitable growth. Smith will also be tasked with expanding market share, driving product development and further establishing Markel as a market leader in transport and logistics.
Smith takes on his new role in addition to his responsibilities as Director of Marine and Energy Liabilities – a role he was appointed to in August 2024. He will continue to report to Tom Hillier, Managing Director, International Specialty, at Markel.
Hillier commented: “Transport and logistics companies currently face a heightened risk environment, due to global economic contraction, heightened geopolitical tensions and increasing technological and regulatory risks. At times such as these, it’s crucial that companies have the right insurance partner who can help ensure they have comprehensive insurance cover in place that meets their evolving needs.
“I’m therefore delighted that Grant will be leading our Transport and Logistics team. Grant has already made a significant impact and contribution to Markel since joining earlier this year. His leadership, knowledge and experience of underwriting these classes of business will be hugely important as we continue to partner with clients and brokers and help them to navigate this evolving risk landscape.”
Smith has extensive knowledge of the insurance market, having spent more than 17 years of his career working in various underwriting and leadership positions across these classes of business. Prior to joining Markel in August 2024, he worked as Portfolio Manager Specialty at QBE European Operations – a role he held since 2014. Before joining QBE as a Marine and Energy Liability Underwriter in 2011, Smith had spent five years working in various underwriting roles across marine and aviation at Travelers.
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.
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View original content:https://www.prnewswire.co.uk/news-releases/markel-appoints-grant-smith-to-lead-its-transport-and-logistics-team-in-international-specialty-302344912.html
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