Fintech PR
Stellar joins the Mastercard Crypto Credential ecosystem to unlock verified interactions across public blockchain networks
Coins.ph, Mercado Bitcoin and Wirex will use Mastercard Crypto Credential on Stellar
SAN FRANCISCO, Oct. 15, 2024 /PRNewswire/ — At Meridian 2024 in London, U.K., the Stellar Development Foundation announced a new partnership with Mastercard to integrate the company’s Crypto Credential solution with the Stellar network.
Mastercard Crypto Credential, which helps verify interactions among consumers and businesses using blockchain networks, will be embedded in the Stellar ecosystem as the exclusive credentialing solution to enable a range of secure, compliant use cases for crypto wallet providers including Coins.ph, Mercado Bitcoin, and Wirex.
Today, the user experience of cryptocurrency transfers is still complex, which can create a barrier to adoption. With Mastercard Crypto Credential, crypto remittances can be simply initiated using the recipient’s email address. Behind the scenes, Mastercard Crypto Credential ensures the destination is valid, that it can accept the selected digital asset, and complies with regulatory requirements.
Mastercard Crypto Credential confirms interactions among consumers and businesses, providing some peace-of-mind that a user has met a set of verification standards. The solution also brings more trust and certainty to the process through the exchange of metadata and supports transferring the information needed for cross-border transactions.
Stellar and Mastercard work will initially focus on enabling credentialing for remittances and peer-to-peer transfers – pairing the user-friendly experience of Mastercard Crypto Credential with the Stellar network’s fast settlement times and low fee structure. As an extension of the partnership, Mastercard and Stellar will explore how Mastercard’s wide range of services can be leveraged on the Stellar network, opening doors for additional new and innovative applications of blockchain technology.
This collaboration marks a significant step forward in making cryptocurrency transactions more user-friendly and secure. The Stellar network has a large network of on-and-off-ramps that enable cash-to-crypto transactions around the globe and an ecosystem of trusted financial institutions with a variety of regulated, tokenized real-world assets.
This integration demonstrates the power of partnership to develop the future of blockchain technology. By simplifying transactions and enhancing security, the integration of Mastercard Crypto Credential into the Stellar network is helping to make blockchain technology more accessible and appealing to a broader audience, with the goal of fostering wider adoption and mainstream use.
Quote Sheet
“The Stellar network was designed to be fast, affordable and to demonstrate blockchain technology’s ability to solve real problems for people,” said Denelle Dixon, CEO of the Stellar Development Foundation. “Collaborating with Mastercard to integrate Mastercard Crypto Credential into the Stellar ecosystem will make transferring funds safer and faster, enabling a wide range of use cases and further driving adoption of blockchain technology.”
“We designed Mastercard Crypto Credential to bring more trust and innovation to the digital assets ecosystem,” said Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard. “Bringing our technology, standards and infrastructure together with Stellar’s commitment to powering commerce using blockchain technology, we are paving the way for safer, simpler, and more secure digital assets.”
“As the largest exchange in the Philippines, Coins.ph is at the forefront of driving innovation in the financial landscape, making Mastercard’s Crypto Credential on Stellar a perfect fit for us. In 2023, remittances to the Philippines reached $37.2 billion, highlighting the vast potential to bring millions on-chain—many of whom will experience the benefits of crypto for the first time, starting with fast and low-cost cross-border transactions made possible through our collaboration,” said Coins.ph CEO Wei Zhou.
“Joining forces with Mastercard and Stellar through Crypto Credential enables us to offer our customers more secure, compliant, and seamless crypto transactions,” said Fabrício Tota, senior vice president, New Business Development at Mercado Bitcoin. “This collaboration strengthens our ability to innovate and connect traditional finance with blockchain solutions in Brazil and beyond.”
Pavel Matveev, Co-Founder of Wirex said: “Joining Mastercard’s Crypto Credential on the Stellar network represents a significant evolution for Wirex. By integrating with such a robust network, we’re able to deliver on our promise of making crypto more accessible and usable for everyday financial needs. We believe this collaboration will pave the way for even more innovative applications of blockchain technology and drive the future of digital payments.”
About Stellar
Stellar is more than a blockchain. Powered by a decentralized, fast, scalable, and uniquely sustainable network made for financial products and services and a thriving and passionate ecosystem that includes a non-profit organization driven by a mission, Stellar is paving the path to unlock the world’s economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to issue assets, and to send and convert currencies in real time creating real world utility.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit stellar.org/foundation.
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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