SEOUL, South Korea, Dec. 20, 2024 /PRNewswire/ — The Korea Startup Forum (KSF, Chairman Sangwoo Han) announced that COMEUP 2024, held on December 11 and 12 at COEX in Seoul, successfully concluded. The event welcomed startups, investors, global corporations, aspiring entrepreneurs, and the general public from 45 countries, establishing its international reputation.

Approximately 260 startups from 45 countries participated, with over half being international companies. National pavilions from the UAE, India, Japan, and Sweden showcased technologies, while 120 startups from 21 countries, including Germany, Austria, Sweden, and South Africa, engaged in pitching sessions, exhibitions, and networking events. Organizations like the International Trade Center (ITC) and the Africa Development Bank (AfDB) also participated.

COMEUP 2024 focused on global tech ecosystem trends such as deep tech, inbound innovation, and sustainable innovation (SIS). On December 11, Qamar Aftab from Wa’ed Ventures and Sunghyun Park from Rebellions discussed cross-border innovation. On December 12, SooJong Kim, CEO of INNOSPACE, spoke about opportunities in the space industry, drawing significant attention.

The public IR pitching event Startup Valley crowned Toonimotion, Foretell My Health, and POSCORE as Rookie League winners, securing their spots at Viva Technology 2025 in France. Other notable finalists included CUBIG, ZETIC.ai, and Tublet Korea, which are recognized for advancements in fields like AI and cybersecurity.

The Open Innovation Ground program facilitated collaborations between startups and companies like Microsoft, NVIDIA, Hyundai Motor, and Siemens. Customized matchmaking sessions featured expert talks on global expansion and funding, while the On the COMEUP platform enabled 1,900 successful business matches, nearly doubling last year’s record.

The Inbound Innovation track spotlighted foreign startups, including AiMA Beyond AI, a Spanish company developing AI-powered digital human solutions, which gained attention for its innovations and market entry efforts in Korea.

Sangwoo Han, Chairman of the Korea Startup Forum, stated, “COMEUP 2024 has become a global festival where startups and investors worldwide collaborate, break innovation boundaries, and shape the future. We will continue supporting startups in taking on new challenges and achieving global success.”

COMEUP 2024 highlights and replays are available on its official YouTube channel.

Photo – https://mma.prnewswire.com/media/2585755/comeup.jpg

View original content:https://www.prnewswire.co.uk/news-releases/comeup-2024-concludes-a-global-startup-festival-breaking-boundaries-of-innovation-302336852.html

Advertisement

SÃO PAULO, Dec. 19, 2024 /PRNewswire/ — Sendas Distribuidora S.A. (B3: ASAI3; NYSE: ASAI) (“Company”) announces that the Company’s Board of Directors approved at the meeting held on this date, the intention of the Company to proceed with the voluntary delisting of its American Depositary Shares (“ADSs”), each representing five common shares of the Company and represented by American Depositary Receipts (“ADRs”), from the New York Stock Exchange (“NYSE”) (“Delisting”), including the change of the Company’s ADR program to Level 1, in order to enable investors to maintain ownership of their ADSs, which may be traded on over-the-counter markets after the Delisting, as applicable, and deregistration with the United States Securities and Exchange Commission (“SEC”), once the Company complies with the applicable deregistration requirements.

The Company clarifies that the application for listing and admission to trading of its common shares on the Novo Mercado segment of B3 S.A. – Brasil, Bolsa, Balcão (“Novo Mercado”) and the application to list its ADSs on the NYSE were granted in February 2021 in the context of the corporate reorganization involving the Company and Companhia Brasileira de Distribuição (GPA), as disclosed to the market in general at the time.

However, the Company considers that maintaining a secondary listing on the NYSE is not currently beneficial, given that trading of the Company’s common shares is predominantly concentrated (around 87%) on the Novo Mercado. The Delisting is in line with the Company’s long-term strategy of maintaining efficient operations, given the low cost characteristic of the Company (“low-cost company”).

Accordingly, the Company intends to file a Form 25 with the SEC in due course seeking to make the Delisting effective by January 9, 2025. The Company expects immediately following the Delisting, the ADSs will begin to trade over-the-counter. Thereafter, if and when the requirements are met, the Company will file a Form 15F with the SEC to deregister and terminate its disclosure obligations under the Securities and Exchange Act of 1934, as amended. The Company reserves the right, for any reason and at any time, to postpone or cancel the filings of Forms 25 and 15F or otherwise modify its plans with respect to this matter

Finally, the Company clarifies that: (i) its common shares will continue to be listed and admitted to trading in Brazil, on the Novo Mercado, which is its primary trading market, maintaining all periodic and occasional disclosures required by applicable Brazilian regulations; and (ii) committed to high standards of governance, even after the effectiveness 2 of the Delisting and the deregistration with SEC, the Company will voluntarily maintain its current corporate governance practices.

The Company will keep its shareholders and the market in general informed of any material updates regarding the matters mentioned herein.

Important Notice Regarding Forward-Looking Statements:

This press release contains forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to Sendas Distribuidora S.A., are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forwardlooking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

View original content:https://www.prnewswire.co.uk/news-releases/sendas-announces-intention-to-voluntarily-delist-its-american-depositary-shares-from-nyse-302336695.html

Advertisement

As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

Advertisement

The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

1. Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
2. Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
3. Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
4. Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.

Advertisement