SINGAPORE, Nov. 6, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to announce its strategic partnership with Ample FinTech, a Singapore-based fintech company specializing in enterprise-grade Web3 payment platforms and tokenization solutions. This collaboration aims to leverage Ample FinTech’s deep expertise in providing secure, compliant, and efficient tokenization technologies to enhance WUSD’s capabilities in cross-border transactions, reinforcing its leadership in the rapidly evolving Stablecoin 2.0 landscape.

Through this partnership, WSPN and Ample FinTech will explore the integration of enterprise-grade Web3 payment technologies, including programmable payments, digital credentials, and tokenized invoicing. These solutions will be applied to key areas such as cross-border payments, international trade, cross-border e-commerce, and supply chain finance. By combining Ample FinTech’s Web3 payment innovations with WSPN’s global payment infrastructure, this partnership will drive the adoption of more efficient, secure, and scalable payment solutions, helping businesses optimize capital efficiency and streamline global financial operations.

“We are thrilled to partner with WSPN to bring our enterprise-grade Web3 payment and tokenization solutions to the forefront of the global digital economy. By integrating our advanced technologies such as programmable payments, digital credentials, and tokenized invoicing with WSPN’s robust infrastructure, we aim to revolutionize cross-border transactions. This collaboration represents a major step toward optimizing capital efficiency and driving innovation in global financial operations for businesses worldwide.” said Louis Wan, Head of Research, Ample FinTech

“Our partnership with Ample FinTech represents a strategic step forward in advancing Web3 payment solutions,” said Raymond Yuan, Founder and CEO of WSPN. “By integrating Ample’s innovative technologies with our global infrastructure, we’re creating more efficient and flexible solutions for cross-border transactions, further strengthening WUSD’s position in the digital payment landscape.”

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users.  WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

Learn more: www.wspn.io | X | LinkedIn

About Ample FinTech

Ample FinTech is a financial technology company focused on developing the world leading enterprise Web3 payment and tokenization SaaS platform.

Since its establishment, the Ample FinTech has successfully completed two pilot projects related to CBDC, stablecoin, digital credentials, and tokenization through collaboration with three central banks. Additionally, the Ample FinTech team has received FSTI IA grant from the Monetary Authority of Singapore (MAS) in 2024 for its groundbreaking work in digital credentials and programmable payments.

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BEIJING, Nov. 6, 2024 /PRNewswire/ — International companies looking to enter the Chinese market are flocking to Shanghai to take advantage of the seventh China International Import Expo (CIIE), the country’s biggest import trade fair slated to run from November 5 to 10 this year.

A global economic and trade event, the expo generated deals cumulatively valued at $78.4 billion last year, an increase of 6.7 percent year on year, hitting an all-time high. This year’s CIIE will host 3,496 exhibitors from 129 countries and regions in an exhibition center space that covers over 360,000 square meters – equivalent to 50 standard soccer fields.

According to Chinese officials, the number of participating countries and exhibitors has surpassed previous records. And the most notable thing is that 297 exhibitors are from Fortune Global 500 companies, marking a historic high. Among all participants, 186 enterprises and institutions have participated in the expo for seven consecutive years.

Hosting the CIIE is an important aspect of China’s opening up and cooperation, representing China’s solemn commitment to the world, Chinese Premier Li Qiang said during his keynote speech at the opening ceremony of this year’s CIIE on Monday.

The Piraeus Port Authority, the operator of Greece’s largest port, is participating in the expo for the seventh consecutive year. Following its debut at the inaugural CIIE in 2018, Piraeus Port saw its container throughput hit a record high in 2019, with 40 percent of the total volume coming from China.

“Piraeus Port takes part in the CIIE every year to explore new cooperation opportunities, aiming for a win-win partnership with China,” exhibitor Evdoxia Kastrinelli told CMG, adding the port operator will keep participating in the event in the future.

Apitv, an automotive technology supplier headquartered in Dublin, is participating in the expo for the first time. A part of a global industrial machinery manufacturer with over 100 years of history, the company is showcasing more than 45 cutting-edge technological innovations, including hydrogen energy solutions, liquid hydrogen booster pumps, and other advanced products, all making their debut in China.

“We’ve seen the impact the CIIE has had on global trade over the years, and with China’s automotive industry rapidly advancing, this is an excellent opportunity for us to leverage the platform to engage in deeper cooperation with enterprises both in China and around the world,” said Jiang Weihao, a representative of the exhibitor.

In addition to tech products and consumer goods from developed countries, this year’s expo also welcomed a large number of developing nations, including 37 of the world’s least developed countries. Over 120 exhibition booths were provided free of charge to these countries. Some booths highlight African agricultural specialties such as peanut, coffee, honey and beer.

During the 2024 Summit of the Forum on China-Africa Cooperation, China announced plans to grant zero-tariff treatment on all tariff items for the least developed countries with diplomatic ties to China, including 33 African nations. Following that, 22 tonnes of avocados imported from South Africa cleared customs and arrived at Shanghai Yangshan Port in early October.

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Addressing the opening ceremony, Li stressed the need to strengthen consensus on opening up, adding that all parties should jointly adhere to international economic and trade orders and rules and earnestly fulfill multilateral and bilateral economic and trade agreements.

This year, China has rolled out a series of measures to underscore its commitment to deeper reforms and greater openness.

Starting November 8, China will grant visa-free entry to citizens from nine more countries, bringing the total to nearly 30. On November 1, China implemented an updated negative list for foreign investment, removing all restrictions in the manufacturing sector. 

The country has also revised policies for foreign investment in listed companies and will now allow foreign-invested hospitals in nine cities. A nationwide negative list for cross-border services trade will also be introduced.

As China continues to open its economy and stimulate growth, the International Monetary Fund (IMF) has raised its growth forecast for China to five percent, matching the country’s original growth target.

Based on IMF projections, Bloomberg has reported that China is expected to remain the largest contributor to global economic growth over the next five years, surpassing the combined contributions of all G7 countries.

China will further expand institutional opening up and actively align with high-standard international economic and trade rules, Li said, pledging efforts to implement the strategy for upgrading pilot free trade zones.

https://news.cgtn.com/news/2024-11-05/China-showcases-commitment-of-opening-up-via-massive-trade-fair-1yhuKBzAgZa/p.html 

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Fintech leader strengthens position in cross-border B2B payments and trade finance, eyeing rapid growth across Asia, including China and India

AMSTERDAM and SINGAPORE, Nov. 6, 2024 /PRNewswire/ — MODIFI, a leading global platform in B2B Buy Now, Pay Later (BNPL) solutions, today announced the successful completion of a $15 million funding round led by SMBC Asia Rising Fund with participation from existing investors Maersk, IntesaSanPaolo, Heliad and other top-tier global investors. Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and a major financial force in the APAC region, brings both capital and strategic alignment to the partnership. Beyond the equity investment, MODIFI and SMBC have signed a Memorandum of Understanding (MoU) to jointly advance digital solutions that support SME exporters across Asia in expanding their international trade operations. Through a series of joint initiatives, MODIFI and SMBC aim to empower SMEs with innovative cross-border financing solutions.

The announcement comes on the sidelines of Singapore Fintech Festival, showcasing MODIFI’s drive for innovation in the global fintech landscape. This new capital infusion will accelerate MODIFI’s expansion, particularly in high-growth markets like China and India, where the company has already made significant inroads. MODIFI’s platform delivers critical liquidity and flexible payment terms to small and medium-sized enterprises (SMEs), helping them optimize cash flow and expand their international reach.

“The funding underscores the strength of our business and the confidence our investors have in our vision for the future,” said Nelson Holzner, CEO and Co-founder of MODIFI. “As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders.”

MODIFI’s exponential growth has solidified its position as a market leader in cross-border payments and trade finance. Recognized by Financial Times and Statista as one of the Fastest Growing European Fintech Companies in 2024, MODIFI has facilitated over $3 billion in global trade for more than 1,800 companies since it was founded in 2018. The platform offers instant working capital approval, alongside integrated risk management tools that shield businesses from buyer defaults and fraud.

“Our mission is simple: We empower SMEs to compete and thrive in the global market with fast, flexible, and secure payment solutions,” added Holzner. “With this fresh funding, we’re set to redefine global trade finance—ensuring businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally.”

“By transforming cross-border supply chain finance for the digital age with their global presence, we believe MODIFI supports SMEs to scale their export businesses with ease. We look forward to collaborating with MODIFI to empower our corporate clients to expand their businesses globally with agility and financial flexibility overcoming traditional trade barriers,” said Keiji Matsunaga, General Manager of Digital Strategy Department, SMBC.

About MODIFI

MODIFI is redefining global trade finance as a leader in B2B Buy Now, Pay Later (BNPL) solutions. Trusted by businesses across 55+ countries, MODIFI provides cutting-edge tools that optimize working capital and streamline cross-border payments. Through its extensive global network, MODIFI delivers fast, flexible, and secure financial solutions, helping companies expand their international footprint with ease. By integrating advanced risk management features and seamless payment processes, MODIFI is setting new benchmarks in global commerce, empowering businesses of all sizes to thrive in a rapidly evolving market.

About SMBC and SMBC Asia Rising Fund

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SMBC, one of the leading banks in Japan, co-funded SMBC Asia Rising Fund with Incubate Fund which is a corporate venture capital fund, for the purpose of accelerating business development and partnerships through investments in high potential start-ups operating actively in Asia. Through this fund, SMBC Group will enhance its business and provide clients with new solutions by uncovering/ applying new technologies via partnerships with investee firms and the development of new business models and products.

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