Fintech PR
Euroclear achieves robust third quarter results
BRUSSELS, Oct. 31, 2024 /PRNewswire/ — Results for the first nine months of 2024
Highlights
Euroclear’s business income and interest earnings reached record levels
- Underlying operating income increased by 6% to reach €2.18 billion. Net profit increased by 8% to €890 million.
- Underlying business income is up by 5% to €1,302 million, driven by record levels in settlement and safe keeping activities, with assets under custody crossing the €40 trillion mark for the first time ever. In Q3 2024, business income increased by 8% compared to Q3 2023, driven by strong performance especially in the Eurobonds & European assets and funds business.
- Underlying interest income continues to increase, up 9% to €882 million in the context of sustained high interest rates environment and gradual policy rate cuts.
Pace of cost growth continues to slow
- After a step-up in investment in digital capabilities, workforce and IT infrastructure in 2023, the growth of underlying operating expenses slowed to 3% for the first nine months of 2024.
- In Q3 2024, underlying costs decreased by 1.5% compared to Q3 2023, reflecting Euroclear’s continued focus on cost mitigation and non-recurrence of specific items.
- As a result, the business income operating margin improved to 24.7% for the first nine months of 2024.
Strong shareholder return and capital position
- Underlying earnings per share increased by 8% to €283 in line with continued increase in net profit.
- Euroclear group retains a very strong capital position, comfortably above regulatory requirements with an underlying Common Equity Tier 1 capital ratio slightly below 60%[1].
Russian sanctioned assets
- Following the implementation of the EU windfall contribution regulation, Euroclear provisioned €2.9 billion as windfall contribution for the first nine months of 2024, of which a first tranche of €1.55 billion for H1 2024 was paid to the European Fund for Ukraine in July 2024.
- Gradual rate cuts have led to a decline in interest income related to the Central Bank of Russia’s assets in Q3 2024 with the outlook for future interest earnings dependent on policymaking decisions.
- The impacts of the Russian sanctions are detailed in the last section of this press release.
|
Euroclear Holding |
||||||||
|
(€ m) |
YTD Q3 23 |
Russian sanctions impacts |
YTD Q3 23 underlying  |
YTD Q3 24 |
Russian sanctions impacts after Windfall Contribution |
YTD Q3 24 underlying |
Underlying |
|
|
Operating income |
5,052 |
2,996 |
2,056 |
4,424 |
2,240 |
2,184 |
128 |
6 % |
|
Business income |
1,226 |
-18 |
1,243 |
1,282 |
-20 |
1,302 |
59 |
5 % |
|
Interest, banking & other income |
3,826 |
3,013 |
813 |
6,030 |
5,148 |
882 |
69 |
9 % |
|
Windfall contribution |
-2,888 |
-2,888 |
0 |
0 |
||||
|
Operating expenses |
-991 |
-34 |
-956 |
-1,049 |
-68 |
-981 |
-24 |
-3 % |
|
Operating profit before Impairment |
4,061 |
2,961 |
1,100 |
3,375 |
2,172 |
1,203 |
103 |
9 % |
|
Impairment |
0 |
0 |
0 |
-5 |
0 |
-5 |
-5 |
|
|
Pre tax profit |
4,061 |
2,961 |
1,100 |
3,370 |
2,172 |
1,198 |
98 |
9 % |
|
Tax |
-1,018 |
-740 |
-278 |
-1,573 |
-1,265 |
-308 |
-30 |
-11 % |
|
Net profit |
3,043 |
2,221 |
822 |
1,797 |
907 |
890 |
68 |
8 % |
|
EPS |
966.8 |
261.2 |
570.9 |
282.9 |
||||
|
Business income operating margin |
19.2 % |
23.1 % |
24.7 % |
|||||
|
EBITDA margin (EBITDA/oper.income) |
82.0 % |
57.5 % |
59.1 % |
|||||
Valerie Urbain, Chief Executive Officer of Euroclear, commented:
“We are maintaining our trajectory of strong financial results and excellent performance, with our settlement and safe keeping activities reaching once again record levels. We remain focused on the execution of our strategy and delivering outstanding service to our customers, while continuing to invest to support our long-term growth.
We believe digital assets offer significant benefits and our teams have continued to innovate to advance their adoption across geographies and asset classes. After two successful issuances, Euroclear now welcomed the first issuance in USD by an Asia-based issuer on its Digital Securities Issuance (D-SI) platform. Euroclear took part in a groundbreaking pilot project to tokenise gold, Gilts and Eurobonds for collateral management and completed the dress rehearsal of its trial for Eurosystem wholesale Central Bank Digital Currency (CBDC) exploratory work. Finally, Euroclear joined forces with Singapore-based Marketnode to help establish a key market infrastructure in Asia-Pacific designed to simplify the management of fund flows and reduce settlement times by using Distributed Ledger Technology (DLT).
As a group with European roots, Euroclear reiterated its commitment to supporting the European Capital Markets Union. With Europe entering a new political cycle, Euroclear presented a detailed memorandum on the competitiveness in Europe’s markets and engaged with key stakeholders to chart the course for enhanced market development and integration in Europe. I firmly believe that by attracting more issuers and investors, by removing barriers to efficiency, competition and integration and by supporting innovation, European capital markets can become more liquid, resilient and competitive.”
Business performance
The key operating metrics (end of period unless stated otherwise) demonstrate an excellent business performance during the period.
|
Q3 2023 |
Q3 2024 |
YoY evolution |
3-year CAGR |
|
|
Assets under custody |
€37 trillion |
€40 trillion |
+9 % |
+3 % |
|
Number of transactions |
224 million |
243 million |
+9 % |
+4 % |
|
Turnover |
€813 trillion |
€850 trillion |
+5 % |
+5 % |
|
Fund assets under custody |
€3 trillion |
€3.4 trillion |
+14 % |
+6 % |
|
Collateral Highway |
€1.67 trillion |
€1.9 trillion |
+14 % |
+2 % |
|
Underlying cash deposits (average) |
€24.3 trillion |
€22.4 trillion |
-8 % |
+3 % |
Euroclear’s assets under custody reached a record €40 trillion, growing for the eighth quarter in a row, thanks to solid stock exchange performances coupled with robust results in fixed income.
Despite the usual summer slowdown, settlement volumes hit a new high due to sustained activity since the beginning of the year.
Funds depot is boosted by the success of ETFs, combined with the positive evolution of the stock valuations, and breaks its all-time record level close to €3.4 trillion.
The Collateral Highway’s outstanding continues to increase and is now very close to the early 2022 peak.
Business milestones
Reshaping traditional financial services
Euroclear made significant progress in its journey to become a digital, data-enabled Financial Market Infrastructure by welcoming the first Digital Native Note (DNN) issued by the Asian Infrastructure Investment Bank on its Digital Securities Issuance (D-SI) platform. This marks the first digital issuance in USD for Euroclear and the first such issuance by an Asia-based issuer on its platform. Euroclear’s DSI service enables the issuance, distribution and settlement of fully digital international securities on Distributed Ledger Technology (DLT).
In the related digital securities space, Euroclear, alongside Digital Asset and The World Gold Council, has successfully completed a groundbreaking pilot to tokenise gold, Gilts and Eurobonds for collateral management. This initiative showcases how DLT can revolutionise collateral mobility, enhance liquidity and boost transactional efficiency.
Furthermore, with the support of Paris Europlace, Euroclear has brought together a group of French banks around its D-SI platform and Banque de France’s DL3S platform for Central Bank Digital Currency (CBDC). As a result, these financial institutions will issue the first Digital Native Note (DNN) under French Law and settle it in CBDC.
Advancing the funds business
In October 2024, Euroclear acquired a strategic stake in Marketnode, a Singapore-based digital market infrastructure operator. By joining forces with Marketnode and its existing shareholders – the Singapore Exchange (SGX Group), Temasek and HSBC – Euroclear will contribute to establish a key market infrastructure in Asia-Pacific designed to simplify the management of fund flows and reduce settlement times by using new technology. This first strategic investment in Asia reinforces the region’s importance to Euroclear’s positioning and business growth.
In line with its commitment to make private markets more accessible to a wider range, Euroclear announced a pioneer collaboration with BlackRock. Both companies join forces to expand the distribution of BlackRock’s private market funds via Euroclear’s FundsPlace. With a global reach serving over 2,500 clients across the globe, FundsPlace is well-equipped to extend BlackRock’s diverse range of private market funds to an even broader array of investors.
Simplification of Euroclear’s group structure
On 1 October 2024, Euroclear completed the previously announced simplification of its group structure. Two out of the four financial holding companies of the Euroclear group, Euroclear AG and Euroclear Investments SA/NV, were successively merged into Euroclear Holding SA/NV, the ultimate parent entity of the Euroclear group.
This simplification of the corporate structure results in a significant reduction of complexity both in terms of governance and financial administration, while keeping direct participations in regulated entities at the level of Euroclear SA/NV. This merger also streamlines and accelerates the dividend upstreaming process.
A call for unlocking scale and competitiveness in Europe’s markets
As a trusted market infrastructure having contributed to the integration of European and global markets over decades, Euroclear is committed to advance the European Capital Markets Union. To instigate a meaningful dialogue with all involved stakeholders, Euroclear published a thought leadership paper on the European capital markets highlighting, key challenges, real opportunities and the critical need to improve integration and competitiveness, specifically in the post-trade sector.
To read the full paper, go to https://www.euroclear.com/content/dam/euroclear/news%20&%20insights/Format/Whitepapers-Reports/Whitepaper-Unlocking-Europe-capital-markets.pdf
Supporting academic research on sustainable finance
In line with its ambition to advancing the understanding of sustainable finance, Euroclear announced its sponsorship of a new Chair in Sustainable Finance at the Solvay Brussels School of Economics and Management of the Université Libre de Bruxelles (ULB). Professor Dr Guntram Wolff will be the first holder of this newly created Chair, which will contribute to the creation of knowledge on sustainable finance, executive training as well as teaching.
Russian sanctions impacts
Financial impacts of the Russian assets
- The Russian sanctions continue to have a significant impact on Euroclear’s earnings.
- Interest earnings related to Russian assets, which are subject to Belgian corporate tax, generated €1.27 billion tax revenue.
- Following the implementation of the EU windfall contribution regulation applicable to the Central Bank of Russia’s (CBR) assets dating from 15 February 2024 onwards, Euroclear provisioned €2.9 billion as windfall contribution for the first nine months of 2024.
- Euroclear made a first payment for H1 2024 of approx. €1.55 billion to the European Fund for Ukraine in July 2024.
- The sanctions and Russian countermeasures resulted in direct costs of €68 million and a loss of business income of €20 million.
- Gradual rate cuts have led to a decline in interest income related to the Central Bank of Russia’s assets in Q3 2024 (see quarterly evolution in the table below) with the outlook for future interest earnings dependent on policymaking decisions. As a reference, an interest rate cut of 0.25% in Euro would have a potential impact of €51 million on the windfall contribution on quarterly basis.
|
Russian sanctions |
o/w CBR as of 15 Feb. |
CBR Q1 2024 as of 15 Feb. |
CBR Q2 2024 |
CBR Q3 2024 |
o/w Other Russia |
||||
|
Operating income |
2,240 |
1,000 |
191 |
407 |
402 |
1,240 |
|||
|
Business income |
-20 |
0 |
0 |
0 |
0 |
-20 |
|||
|
Interest, banking & other income |
5,148 |
3,888 |
746 |
1,577 |
1,565 |
1,260 |
|||
|
Windfall contribution provision |
-2,888 |
-2,888 |
-554 |
-1,170 |
-1,163 |
||||
|
Operating expenses |
-68 |
-16 |
-3 |
-7 |
-6 |
-52 |
|||
|
Operating profit before Impairment |
2,172 |
984 |
188 |
400 |
396 |
1,188 |
|||
|
Tax |
-1,265 |
-968 |
-185 |
-393 |
-390 |
-297 |
|||
|
Net profit |
907 |
16 |
3 |
7 |
6 |
891 |
|||
Update on Russian sanctions and countermeasures
Russia’s invasion of Ukraine in February 2022 resulted in market-wide application of international sanctions. Euroclear considers the application of international sanctions as a key obligation. Therefore, well established processes are in place which have allowed the group to implement the sanctions while maintaining our normal course of business.
As a result of the sanctions, blocked coupon payments and redemptions owed to sanctioned entities continue to accumulate on Euroclear Bank’s balance sheet. At the end of September 2024, Euroclear Bank’s balance sheet totalled €216 billion, of which €176 billion relate to sanctioned Russian assets.
In line with Euroclear’s risk appetite and policies and as expected by the EU Capital Requirements Regulation, Euroclear’s cash balances are re-invested to minimise risk and capital requirements. In the first nine months of 2024, interest arising on cash balances from Russian-sanctioned assets was approximately €5.15 billion. Such interest earnings are driven by the prevailing interest rates and the amount of cash balances that Euroclear is required to invest. Subject to Belgian corporate tax, these earnings generated €1.27 billion tax revenue for the Belgian State. As such, future earnings will be influenced by the evolving interest rate environment.
Effective 15 February 2024, the EU Council adopted a Regulation requiring Central Securities Depositories (CSDs) holding reserves and assets of the Central Bank of Russia with a total value of more than €1 million to apply specific rules in relation to the cash balances accumulating due to restrictive measures. These CSDs, such as Euroclear Bank, should account for and manage such extraordinary cash balances separately from their other activities, should keep separate the net profit generated and should not dispose of these ensuing net profits (e.g. in the form of dividends to shareholders).
In May 2024, the European Commission has adopted a new regulation about a windfall contribution applicable to CSDs holding Russian Central Bank assets with a total value of more than €1 million. The profits generated by the reinvestment of these sanctioned amounts dating from 15 February 2024 onwards are required to be contributed to the European Fund for Ukraine. Consequently, Euroclear made a first payment of approx. €1.55 billion to the European Fund for Ukraine in July 2024.
Euroclear continues to act prudently and to strengthen its capital by retaining the remainder of the Russian sanction related profits as a buffer against current and future risks. Euroclear is focused on minimising potential legal, financial, and operational risks that may arise for itself and its clients, while complying with its obligations.
As a direct consequence of the sanctions and countermeasures, Euroclear faces multiple proceedings in Russian courts. Since Russia considers international sanctions against public order, Russian claimants initiated legal proceedings aiming mainly to access assets blocked in Euroclear Bank’s books, by claiming an equivalent amount in Russian Ruble and enforcing their claim in Russia. Despite all legal actions taken by Euroclear and the considerable resources mobilised, the probability of unfavourable rulings in Russian courts is high since Russia does not recognise the international sanctions.
Euroclear Bank and Euroclear Investments are the two group issuing entities. The summary income statements and financial positions at Q3 2024 for both entities are shown below.
|
Figures in Million of EUR |
|||||||
|
Euroclear Bank Income Statement (BE GAAP) |
Q3 2024 |
Q3 2023 |
Variance |
||||
|
Net interest income |
3,130.5 |
3,803.8 |
-673.2 |
||||
|
Net fee and commission income |
841.5 |
815.7 |
25.8 |
||||
|
Other income |
-4.6 |
20.9 |
-25.5 |
||||
|
Total operating income |
3,967.5 |
4,640.3 |
-672.9 |
||||
|
Administrative expenses |
-710.2 |
-612.5 |
-97.7 |
||||
|
Operating profit before impairment and taxation |
3,257.3 |
4,027.9 |
-770.6 |
||||
|
Result for the period |
1,709.5 |
3,013.6 |
-1,304.0 |
||||
|
Euroclear Bank Statement of Financial Position |
|||||||
|
Shareholders’ equity |
7,745.3 |
5,615.7 |
2,129.7 |
||||
|
Debt securities issued and funds borrowed (incl.subordinated debt) |
3,876.2 |
4,846.0 |
-969.8 |
||||
|
Total assets |
215,916.9 |
164,481.0 |
51,435.9 |
||||
The drop in Q3 2024 figures compared to Q3 2023 reflects the booking of the windfall contribution related to the Central Bank of Russia’s (CBR) assets dating from 15 February 2024.
|
Euroclear Investments Income Statement (BE GAAP) |
Q3 2024 |
Q3 2023 |
Variance |
|||||||
|
Dividend |
706.7 |
395.5 |
311.3 |
|||||||
|
Net gains/(losses) on financial assets & liabilities |
18.8 |
10.5 |
8.3 |
|||||||
|
Other income |
-0.1 |
-0.2 |
0.1 |
|||||||
|
Total operating income |
725.4 |
405.8 |
319.6 |
|||||||
|
Administrative expenses |
-1.6 |
-0.8 |
-0.8 |
|||||||
|
Operating profit before impairment and taxation |
723.8 |
405.0 |
318.8 |
|||||||
|
Result for the period |
719.3 |
402.4 |
316.9 |
|||||||
|
Euroclear Investments Statement of Financial Position |
||||||||||
|
Shareholders’ equity |
443.8 |
696.7 |
-253.0 |
|||||||
|
Debt securities issued and funds borrowed |
1,656.9 |
1,656.2 |
0.7 |
|||||||
|
Total assets |
2,100.8 |
2,354.5 |
-253.7 |
|||||||
The evolution of Q3 2024 figures compared to Q3 2023 reflects the increase in intragroup dividend.
Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency, and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation, and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International and Irish CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & International.
1 Post deduction of dividend relating to 2023 earnings, including Sept. 2024 YTD profit and based on estimated underlying RWA of around EUR 7.4bn. Assuming a 60% dividend pay-out on the Sept. 2024 profit, the CET1 ratio would be 52%.
Pascal Brabant / [email protected] / +32 475 78 36 62
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Fintech PR
PureHealth Posts Net Profit of AED 1.4 Billion and Revenues Increase of 56% for 9 Months of 2024
- PureHealth’s revenue surged 56% year-on-year to AED 19 billion, driven by significant growth in its hospital segment.
- The Group’s EBITDA increased by 26% year-on-year, reaching AED 3.1 billion.
- Net Profit of the Group increased by 13% year on on year, to reach AED 1.4 billion.
ABU DHABI, UAE, Oct. 31, 2024 /PRNewswire/ — PureHealth Holding PJSC (“PureHealth” or “the Group“) (ADX: PUREHEALTH), the largest healthcare group in the Middle East, today announced its financial results for the nine month period ending September 30, 2024. PureHealth recorded a 56% year-on-year increase in revenue to AED 19 billion, while EBITDA grew by 26% year-on-year to AED 3.1 billion, achieving a 16.5% margin. Net profit increased by 13% year-on-year, reaching AED 1.4 billion. This growth reflects strong performance across key verticals, supported by an expanding hospital network and strategic acquisitions locally and internationally.
Hamad Al Hammadi, Chairman of PureHealth, said: “As we progress along our defined growth trajectory, we remain dedicated to advancing the science of longevity in the pursuit of improving quality of life. The strategic acquisitions made this year have significantly strengthened PureHealth’s global position as an integrated healthcare platform, granting access to a premium cross-sector ecosystem. Our performance metrics underscore our commitment to driving innovation, achieving operational excellence and prioritising a patient-centric, proactive approach to care for the people of the UAE and beyond.”
Financial Performance Highlights:
Revenue growth for the nine-month period was primarily driven by increased patient demand within the Group’s hospitals segment, which remains the largest contributor to overall revenue, reaching AED 14.6 billion. The hospitals segment reported an impressive 87% year-on-year revenue increase, largely attributed to strategic acquisitions completed earlier this year. Key additions include Sheikh Shakhbout Medical City (SSMC), the UAE’s largest healthcare complex, and Circle Health Group, the UK’s largest private hospital group. The integration of the National Rehabilitation Centre (NRC), the UAE’s largest addiction rehabilitation facility, and Sheikh Khalifa Hospital Fujairah, the leading tertiary care hospital in Fujairah, further strenghthend the segment’s performance, enhanced service delivery, and expanded the Group’s operational footprint.
Shaista Asif, Group Chief Executive Officer at PureHealth, said: “PureHealth’s strong financial performance for the period underscores the success of our strategic focus on growth through targeted acquisitions and operational excellence. The significant revenue and profit increases reflect our expanding healthcare network, particularly in the hospital segment, where key assets such as Sheikh Shakhbout Medical City (SSMC) and Circle Health Group have played a pivotal role. As we look ahead, our focus remains on leveraging innovation and digital transformation to drive long-term growth, expand our global footprint, and continue creating value for our stakeholders.”
Patient interactions across our UAE and UK assets increased by 66%. Overall Outpatient, Inpatient and Emergency volumes increased by 70%, 105% and 34% respectively. Alongside the phenomenal volume growth, the Group’s bed capacity has expanded by 82%, bringing the total to approximately 4,800 beds.
The Insurance segment’s revenue grew 17% year-on-year to AED 5.1 billion in the first nine months 2024, driven by a 21% year-on-year increase in the Gross Written Premiums to AED 5.5 billion. The growth was underpinned by an improved value proposition, which enabled the retention of key accounts, along with a 4% year-on-year increase in the segment’s total number of active members to 3.1 million during the period.
Key Strategic Updates:
In 2024, PureHealth achieved significant milestones in expanding both its global and local portfolio. Internationally, Ardent Health successfully completed its initial public offering (IPO) on the New York Stock Exchange, marking a pivotal movement in the Group’s growth strategy. Additionally, Circle Health Group was named as the UK’s Top Private Hospital Operator, further underscoring the Group’s commitment to healthcare excellence on a global scale.
Locally, PureHealth optimised its operations through the sale of equity interests in Abu Dhabi Stem Cells Centre (ADSCC) and Yas Clinic. Sheikh Shakhbout Medical City (SSMC) was recently recognised as a Centre of Excellence for Burn Treatments by the Department of Health – Abu Dhabi.
Sustainability Report:
PureHealth launched its inaugural sustainability report aligned with international reporting standards and ADX Reporting Guidelines. It highlights The Group’s strategic approach and progress towards the decarbonisation pathways. PureHealth has committed to SBTi aligned Net Zero by 2040 target, and joined the United Nations’ Race to Zero Initiative. Being the first and only healthcare company in the Middle East region to make these pledges, PureHealth is leading collective action leveraging its expanding ecosystem. The report also details how The Group is creating innovative solutions that contribute to a lasting positive impact on communities.
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Fintech PR
EFT Solutions Shares its Successful e-Payment Solutions Model in Hong Kong at International Digital Kazakhstan Forum
Discover Hub+: Revolutionary Payment Integration Project, from “One Touch to Many”
ALMATY, Kazakhstan, Oct. 31, 2024 /PRNewswire/ — EFT Solutions Holdings Limited (“EFT Solutions” or the “Company”, together with its subsidiaries, the “Group”; stock code: 8062.HK), a leading electronic fund transfer point-of-sales (“EFT-POS”) solutions provider, is pleased to announce that it is joining an array of world-class business professionals at the International Digital Kazakhstan Forum from 30th to 31st October 2024. Speaking at the Forum, Mr. Andrew Lo Chun-kit, the Chairman and CEO of EFT Solutions, shared his perspectives on offering accomplished e-payment service solutions and presented “Hub+,” a trailblazing gateway project that provides seamless payment integration services.
Taking place at Rixos Hotel Almaty in Kazakhstan, the Event provides a platform for experts from different sectors to share best practices and innovative ideas, contributing to the advancement of effective solutions for Central Asian markets. EFT Solutions is showcasing its latest project Hub+, aiding clients to cope with the ever-evolving ecommerce world.
At the keynote speech titled “Successful e-Payment Solutions Model in Hong Kong,” Mr. Andrew Lo Chun-kit, the Chairman and CEO of EFT Solutions, said, “With the ongoing evolution of the retail environment and consumer purchasing patterns, online shopping and e-wallets have seen a strong demand. Hub+ is tailored to meet each client’s business specific needs, offering streamlined multi-acquiring with customizable switching feature to enable clients to effortlessly manage multiple payment options from a single terminal, thereby navigating the rapidly evolving market.
Among the key features introduced with Hub+ is an “Application Programming Interface (API)” that enables the integration of various POS systems and payment terminals. Through cooperation with various payment partners and certification of the authoritative compliance systems, clients can seamlessly connect to a variety of e-payment service solutions and platforms for different usage in one single motion via reliable and stable services.
As a leading provider of electronic payment terminal solutions, EFT Solutions takes on enduring commitment to providing exceptional solutions and services. With dedication, expertise, and innovation, the Company is at the forefront of advancing payment systems, offering businesses and consumers enhanced flexibility, efficiency, and reliability.
Click here for HD photos.
About EFT Solutions Holdings Limited
EFT Solutions Holdings Limited (Stock Code: 8062.HK) has been committed to providing a full range of “EFT-POS” electronic payment solutions, including supporting software, terminals and peripheral devices, to bring convenience to people and improve their quality of life. It aims at providing the most suitable electronic payment solutions for different customers, as well as providing value added functions for EFT-POS terminals, and coordinating terminal installation and maintenance services. Its EFT-POS terminal services cover renowned restaurant group, banks, major chain stores and department stores in Hong Kong, and will be deployed across various APAC countries.
For media inquiries, please contact:
Stimulus Investor Relations
|
Contact: |
Ms. Casey Tang / Ms. Joyce Chau |
|
Tel: |
+852 3595 5938 / +852 3595 5953 |
|
Email: |
EFT Solutions Holdings Limited
|
Contact: |
Ms. Carley Law – Chief Marketing Officer |
|
Tel: |
+852 3895 7785 |
|
Email: |
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Fintech PR
Bybit Launches Localized Website for Kazakhstan Community, Offering Comprehensive Crypto Trading Services
DUBAI, UAE, Oct. 31, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce the launch of its fully localized platform (bybit.kz) for the Kazakhstan market. Following its full authorization from the Astana Financial Services Authority (AFSA), Bybit is now fully compliant with local regulations and ready to offer Kazakhstan users a tailored, secure, and seamless trading experience at bybit.kz.
Tailored Trading for Kazakhstan
Kazakhstan residents can now access Bybit Kazakhstan (bybit.kz), which is specifically designed to meet local market needs. The platform offers the same world-class services available globally, with features adapted to ensure a smooth user experience for the Kazakhstan crypto community.
Key Features of Bybit Kazakhstan:
Streamlined Registration Process
Users can easily register new accounts using their email addresses through bybit.kz, available exclusively to Kazakhstan citizens. The onboarding process is streamlined, adhering to local standards for a quick and hassle-free start to trading.
Diverse Trading Options
Bybit Kazakhstan offers an extensive range of cryptocurrency trading services, ensuring that traders of all levels can confidently engage in the market. The platform supports spot trading, allowing users to buy and sell a variety of cryptocurrencies with real-time liquidity.
For more advanced traders, Bybit Kazakhstan provides derivatives trading, where users can trade sophisticated financial products like futures, enabling diverse trading strategies. Additionally, margin trading is available, giving traders the opportunity to amplify their positions with leverage, maximizing potential profits in both rising and falling markets. For those seeking liquidity without selling their assets, Bybit also offers crypto loans, allowing users to borrow against their crypto holdings.
Upcoming Fiat Gateway for Kazakhstan Tenge (KZT)
In addition, Bybit Kazakhstan is collaborating with local banks to introduce a fiat gateway for Kazakhstan Tenge (KZT). This integration will enable users to effortlessly deposit and withdraw funds directly in KZT. The partnership with local banking institutions ensures hassle-free transactions and faster access to funds, providing enhanced convenience that is specifically tailored to Kazakhstan’s financial ecosystem.
Localized Customer Support
Bybit Kazakhstan provides dedicated support in Kazakh, Russian, and English, ensuring users can access assistance in their preferred language. Our local support team is fully equipped to address user inquiries and resolve any issues, adhering to Kazakhstan’s regulatory framework.
User-Friendly Experience
The bybit.kz platform is designed with user experience at its core. The localized interface, seamless navigation, and clear registration process make it simple for both new and seasoned traders to access the full range of services. The platform ensures a smooth journey from account creation to advanced trading strategies.
Safety and Security
As an AFSA-licensed platform, Bybit Kazakhstan upholds the highest security standards. The platform is built with industry-leading security protocols, ensuring that user assets and data are fully protected. Furthermore, Bybit adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, providing a safe and compliant environment for all users.
A New Chapter for Kazakhstan’s Crypto Traders
The launch of bybit.kz represents a significant milestone for Bybit as it continues to expand its global presence. This localized platform is set to empower the Kazakhstan crypto community by delivering reliable, secure, and advanced trading services that align with local needs.
For more information, visit bybit.kz or reach out to our local support team for assistance.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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