Fintech PR

The MiCA Crypto Alliance Launches with Hedera, Ripple and Aptos Foundation as founding members

Published

1 day ago

September 18, 2024

Leading blockchain innovators Hedera, Ripple, and Aptos Foundation are joining forces with the technical support from DSF to advance crypto-adoption and regulatory adherence.
The alliance will launch standardised templates for sustainability disclosures to help crypto-asset service providers (CASPs) and regulated entities comply with the EU’s Markets in Crypto-Assets (MiCA) regulation.
Members of the alliance will benefit from access to exclusive resources and support from industry leaders that will simplify compliance with the new regulatory standards.

LONDON, Sept. 18, 2024 /PRNewswire/ — The DLT Science Foundation (DSF) is proud to support the launch of the MiCA Crypto Alliance, with Hedera, Ripple and Aptos Foundation, as founding members. This groundbreaking association brings together some of the most influential players in the blockchain space, and is aimed at streamlining and enhancing compliance with the Markets in Crypto-Assets (MiCA) regulation, with a view to fostering a sustainable and compliant crypto ecosystem.

The Markets in Crypto-Assets (MiCA) regulation will be fully applicable by the end of this year and has been established by the European Union to provide a comprehensive regulatory framework for the crypto market, ensuring transparency, consumer protection, and market integrity. The cryptocurrency industry is in a state of rapid evolution, as global regulatory bodies recognise the urgent need for a solid framework that addresses the need for transparency, investor protection and cyber security. The MiCA regulation is being introduced at a critical time, providing much-needed clarity for the European market and fostering a more secure and dependable environment for cryptocurrency assets.

In addition to introducing well-publicised governance and transparency obligations, MiCA also introduces stringent sustainability-focused disclosure requirements that mandate Crypto-Asset Service Providers (CASPs), which include centralised exchanges and other regulated entities to share information about the climate impact of their operations, at the same time as promoting uniformity and standardisation. The regulation requires that this climate impact assessment be shared via publicly accessible white papers and website descriptions. However, the absence of an official template or guideline document for these communications risks leaving CASPs, which are subject to the disclosure requirements, potentially facing non-compliance through no fault of their own. The MiCA Crypto Alliance, with the DLT Science Foundation (DSF) as its technical partner, is a member-governed initiative that aims to solve this problem by coordinating compliance efforts among leading blockchain projects, blockchain foundations, and CASPs. By standardising white paper content and sustainability indicators, the MiCA Crypto Alliance seeks to ensure consistency and comparability, ultimately reducing the complexities associated with regulatory compliance.

With over a third of crypto hedge funds expecting increased legal and compliance costs in the near future¹, largely due to market volatility and evolving regulatory environments, the MiCA Crypto Alliance encourages blockchain innovators and exchanges to participate in this new initiative aimed at fostering a more standardised and compliant industry that will help reduce these costs, increase transparency and promote uniformity. Members will gain access to shared resources, such as advanced compliance tools, expert advice, and networking opportunities with prominent figures in the industry.

Commenting on the launch of the Alliance, Dr. Paolo Tasca, Founder & Chairman of the DSF, said: “In bringing regulatory clarity to the blockchain sector, MiCA represents a significant step towards mass adoption of digital assets and decentralised technologies. The sustainability disclosure requirements contained within the regulation are designed to drive climate accountability from projects operating within this space and encourage the responsible development of these powerful technologies. In enabling the launch of the MiCA Crypto Alliance, we are committed to setting the standards for compliance with the regulation and providing projects with the tools and knowledge they need to thrive in this new landscape.”

Members of the MiCA Crypto Alliance, including Hedera, Ripple, and Aptos Foundation, will have access to exclusive sustainability indicators and AI-powered white paper generation tools developed and provided by DSF. These resources are designed to help members meet MiCA requirements efficiently and effectively, promoting a high standard of compliance and sustainability within the industry.

Hedera, thanks to its unique consensus algorithm, will contribute its expertise in sustainability metrics, while Ripple’s strong commitment to transparency will help ensure regulatory compliance across the network. Finally, Aptos Foundation brings its experience in furthering blockchain-based security and scalability, further strengthening the alliance’s efforts.

Nilmini Rubin, Chief Policy Officer at Hedera, commented: “Becoming a founding member of the MiCA Crypto Alliance is a strategic move that allows us to collaborate with industry leaders, leveraging our combined expertise to achieve shared objectives. By partnering with other esteemed members, we aim to enhance transparency and establish a cohesive regulatory framework. Our goal is to develop a more efficient, transparent, and well-regulated environment that benefits consumers and the entire industry.”

Lauren Weymouth, Director, University Partnerships at Ripple, said: “Ripple is delighted to become a founding member of the MiCA Crypto Alliance. This is a unique opportunity to promote collaboration between the academic community and leaders in the digital assets space, supporting sustainability best practices and regulatory compliance. This underlines Ripple’s long-standing position as an advocate for industry regulation that protects consumers and provides clarity to enterprise, which is essential for the sustainable development of the crypto sector.”

“Aptos Foundation is honoured to be a founding member of the MiCA Crypto Alliance. In addition to delivering exceptional data and boosting interoperability across ecosystems, we believe that coordinated efforts in standardising disclosure obligations are crucial for the long-term success and credibility of Web3” added Bashar Lazaar, Head of Grants & Ecosystem at Aptos Foundation.

Prof. Dr. Dr. h.c. Roman Beck, member of the Steering Committee, MiCA Alliance and Head of the European Blockchain Center said: “At a time when transparency, compliance, and security are becoming increasingly important in the rapidly evolving blockchain and crypto landscape, the MiCA Crypto Alliance offers a unique opportunity to fill an existing gap to help organisations meet these regulatory requirements. The collaboration between some prominent names in the industry will not only foster trust among regulators and market participants but also pave the way for a more sustainable and scalable future for the industry.”

From today, the MiCA Crypto Alliance welcomes new applicants to join this alliance and partner with other members in their collective ambition to enhance transparency and foster a sustainable development of the crypto industry.

For more information on how to become a member, please visit www.micacryptoalliance.com or contact us at [email protected].

About the DLT Science Foundation

The DLT Science Foundation (DSF) is a global leader in P2PFISY. DSF’s initiatives aim to build trust and discover truth within the blockchain industry, supporting the development of transparent and sustainable solutions.

About Hedera

Governed by a council of the world’s leading institutions, Hedera is a high-performance, secure, and sustainable public, permissioned DLT network. It enables seamless tokenization of real-world and digital assets with unmatched performance, security, and compliance. From regulated security tokens to NFTs, Hedera empowers the efficient creation of diverse asset types by providing enterprises and developers with robust open-source tools to unlock illiquid assets and drive the evolution of financial markets.

For more information, visit www.hedera.com, or follow us on Twitter at @Hedera Admin, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.

About Ripple

Ripple is the leading provider of digital asset infrastructure for financial institutions—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world creates, stores, manages and moves value.

About Aptos Foundation

Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralised network and ecosystem and driving engagement with the Aptos ecosystem. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralisation to the masses.

¹ PwC Global Crypto Hedge Fund Report, July 2023

Click on the names for more information on: Hedera, Ripple, and Aptos

View original content:https://www.prnewswire.co.uk/news-releases/the-mica-crypto-alliance-launches-with-hedera-ripple-and-aptos-foundation-as-founding-members-302251659.html

Fintech PR

EQT to acquire Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million) and invest INR 5 billion to support further growth

Published

19 mins ago

September 19, 2024

CISION (PR Newswire)

STOCKHOLM, Sept. 19, 2024 /PRNewswire/ —

Indostar Home Finance is a fast-growing affordable housing finance company with INR 24 billion (USD 286 million) in assets under management, that has supported over 39,000 low income homeowners and small businesses
India’s INR 30 trillion housing finance market presents a multi-decade growth story driven by strong government support, rising affordability and urbanization
EQT will invest INR 5 billion in primary capital to support Indostar Home’s continued growth, including by broadening its footprint across India and investing in digital capabilities

EQT is pleased to announce that the BPEA Mid-Market Growth Partnership (or “the MMG fund”) has agreed to acquire a 100% stake in Indostar Home Finance (or “the Company”), a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion (USD 210 million).

Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 39,000 low income homeowners and small businesses. The Company has rapidly scaled to more than INR 24 billion in assets under management, achieving a 32 percent compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.

The Indian housing finance market currently stands at more than INR 30 trillion, according to the CRISIL. The segment has recorded strong growth driven by government support, rising affordability, and urbanization. However, there remains a significant shortage of housing in the country, with India’s mortgage to GDP ratio at 12.3% compared to more than 60% for developed countries like the USA and UK.

The MMG fund will invest INR 5 billion of primary capital in Indostar Home Finance to support its next phase of growth. EQT aims to expand the Company’s geographic footprint and accelerate its digital transformation journey by leveraging EQT’s in-house digitalization expertise, network of seasoned industry advisors, and expertise in go-to-market strategies.

Ashish Agrawal, Partner in the EQT Private Capital Asia advisory team, said: “Retail lending is a key investment theme for EQT within financial services in India. Building on our investment in the education finance sector through HDFC Credila last year, we are thrilled to welcome Indostar Home Finance to our portfolio. India’s affordable housing finance sector represents a long-term growth opportunity supported by secular demand drivers, favorable government policies and resilient asset quality across economic cycles”

Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said: “Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth.”

Mr. Shreejit Menon, CEO of Indostar Home Finance, said: “This transaction marks a key milestone for Indostar Home Finance. We are excited to embark on this new journey with EQT, who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. With EQT’s support and global expertise, we are well-positioned for accelerated growth and success.”

The transaction is subject to customary regulatory approvals.

Contact
EQT Press Office, [email protected]

This information was brought to you by Cision http://news.cision.com

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Fintech PR

WorldSkills Lyon 2024: Talented Winners, Long-lasting Legacy

Published

3 hours ago

September 19, 2024

CISION (PR Newswire)

worldskills-lyon-2024:-talented-winners,-long-lasting-legacy

LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.

From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.

Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.

The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!

What’s next?

The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.

Media Contacts:
Alice Nahon
PR Officer
[email protected]

Anne-Laure TRONC
Press Relation Manager
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Fintech PR

Touchless Vending Market Size to Grow USD 42330 Million by 2030 at a CAGR of 13.3% | Valuates Reports

Published

3 hours ago

September 19, 2024

CISION (PR Newswire)

BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Touchless Vending Market is Segmented by Type (Food and Beverage Vending Machines, Mask Vending Machine, Toy Vending Machine), by Application (Shopping Mall, Street, Hospital, Traffic Station): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Touchless Vending Market was valued at USD 19800 Million in 2023 and is anticipated to reach USD 42330 Million by 2030, witnessing a CAGR of 13.3% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Touchless Vending Market:

The touchless vending machines market is seeing rapid growth, driven by rising demand for hygienic, contactless solutions post-pandemic, especially in public places such as shopping malls, traffic stations, and hospitals. The ability to offer convenience and reduce human interaction has made these machines popular in food and beverage, personal protective equipment (PPE), and even toy vending. Technological advancements in contactless payment systems and smart inventory management further boost adoption. However, high initial investment costs may slow market growth, especially in developing regions.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL TOUCHLESS VENDING MARKET:

Food and beverage vending machines are highly popular in locations such as hospitals, shopping malls, and traffic stations, where consumers demand quick, hygienic access to snacks and drinks. These machines, equipped with touchless payment systems, Employee Background Check Software Market have seen increased adoption due to the convenience and enhanced hygiene they offer. In addition to traditional snacks and drinks, there is a growing trend toward healthier, premium food options in these vending machines, catering to health-conscious consumers, which further drives demand in this segment.

In shopping malls, vending machines are increasingly being used to provide convenience to shoppers, offering products ranging from snacks to toys and hygiene products. Touchless vending machines are particularly appealing due to their ability to cater to consumers who are looking for quick, contactless purchasing options while shopping. The presence of vending machines in high-traffic areas within malls ensures steady usage, and as malls look to enhance customer experiences, more advanced, interactive vending solutions are likely to be adopted.

Mask vending machines gained significant traction during the COVID-19 pandemic and continue to be relevant in hospitals, airports, and other high-traffic areas. These machines offer a convenient, touchless way for people to access face masks and personal protective equipment. While demand for masks has decreased slightly post-pandemic, the continued emphasis on public health and hygiene in high-risk locations ensures that these machines maintain a stable presence. Additionally, mask vending machines are being repurposed for other hygiene products, extending their utility.

Toy vending machines are commonly seen in shopping malls and entertainment centers, offering children and families a fun, convenient way to purchase toys. These machines are especially popular in high-traffic areas such as malls and family-friendly environments, where they offer an added entertainment element. Recent trends show a shift toward integrating digital elements, such as mobile apps and touchless payment options, into toy vending machines, enhancing the user experience and making these machines more interactive and appealing to younger audiences.

In hospitals, vending machines play a crucial role in providing essential items like snacks, beverages, and personal protective equipment (PPE), including masks. Touchless vending machines, in particular, have become more popular in healthcare environments due to their ability to reduce physical contact, thereby minimizing the risk of disease transmission. These machines are strategically placed in high-traffic areas, such as waiting rooms and cafeterias, ensuring that both staff and visitors have easy access to essential items without leaving the hospital premises.

Vending machines in traffic stations, including airports, bus terminals, and train stations, are seeing increased demand as more travelers seek convenient, contactless solutions for snacks and beverages during transit. Touchless vending machines are particularly favored in these locations due to their ability to offer quick, hygienic services to large numbers of travelers. With the growing number of people using public transportation, vending machines equipped with smart technology and contactless payment options are expected to become a staple in these locations.

Touchless vending machines are also becoming a common sight on streets and in other public spaces, providing convenience for passersby. These machines offer quick access to a variety of products, including food, beverages, and even hygiene items, such as masks and sanitizers. The convenience of contactless payment and minimal human interaction aligns well with the growing consumer preference for self-service, especially in outdoor environments. The installation of vending machines in streets and public spaces is expected to continue rising, driven by urbanization and consumer demand for 24/7 access to essential goods.

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TOUCHLESS VENDING MARKET SHARE

The Asia-Pacific region dominates the touchless vending machines market, driven by the high adoption rate of vending machines in countries like Japan and China, particularly in public spaces such as traffic stations and shopping malls. North America and Europe also show strong demand, especially for food and beverage vending machines in hospitals and other high-traffic areas. The Middle East and Africa are emerging markets, with increasing investments in smart city infrastructure and public health initiatives that support the adoption of touchless vending machines.

Key Companies:

Digital Media Vending International LLC
AusVendGroup
AMS Group, Inc.
LuxDisinfect
Aeguana
Vendekin

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

– Vending Machine Market

– Touchless Button Market

– Contactless Touch Technology market was valued at USD 986.4 Million in 2023 and is anticipated to reach USD 1422.1 Million by 2030, witnessing a CAGR of 5.4% during the forecast period 2024-2030.

– AI-Powered Checkout market was valued at USD 217 Million in 2023 and is anticipated to reach USD 681.6 Million by 2030, witnessing a CAGR of 17.5% during the forecast period 2024-2030.

– Hospital Vending Machine Market

– Capsule-Toy Vending Machines market is projected to grow from USD 351 Million in 2024 to USD 635.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.

– The global Digital Process Automation market is projected to grow from USD 7215.7 Million in 2024 to USD 11770 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.

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