Fintech
Horizon Launches $5 Million Series A Round to Support Build Out of Global Trading Venues Powered by Horizon’s Blockchain Technology
New York, NY, Dec. 03, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — GlobexUS Holdings, Corp. (Horizon), the Blockchain-as-a-Service solutions company, today announced a $5,000,000 Series A funding round to further develop and scale the operations of its proprietary full-stack digital securities issuance, compliance, and secondary trading technology which it markets to licensed, regulated financial institutions globally. This common stock investment opportunity is now open and can be found at https://horizon-globex.com/invest.
Horizon is a fintech company that develops defensible IP solutions and licenses its suite of turnkey blockchain software solutions to regulated financial institutions. The proprietary platform, which is live and in use today, supports the full lifecycle of a digital security, from primary issuance all the way through to secondary trading. This Series A round will support the expansion of Horizon’s software licensing business and its trading-operations services. The Company has signed an agreement with a U.S. broker dealer working to build an SEC-registered ATS. In addition, Horizon has signed agreements with regulated entities in Brazil and Australia, and an MOU with the Antigua and Barbuda Ministry of Finance & Corporate Governance, to build secondary trading venues using Horizon’s fintech solutions.
Horizon’s agreements provide the Company with software licensing revenues and a recurring trading-fee revenue-stream from its flagship blockchain trading solution, Open Order Book. Open Order Book offers regulated entities a compliant order-driven orderbook, on-chain matching engine, and instant trade settlement. The technology is coupled with a user-friendly app allowing users to trade digital securities directly from their smartphone.
Horizon products are also expected to power industry-specific blockchain trading venues that, if successfully launched, would allow large affinity groups such as sports and music fans to trade securities that represent a share of their favorite sports teams or music catalog royalties. Management believes that its unique integration of asset tokenization, KYC & AML, custody and secondary trading could lead the way for regulated specialty marketplaces to be created for fans to trade with one another.
In addition to Open Order Book, Horizon also licenses its compliance software to issuers, broker-dealers, banks and other financial institutions: Tokenetics offers asset tokenization and digital securities creation on a blockchain; KYCware offers a white-label onboarding app to streamline identity verification and suitability; AMLCop screens user details against our proprietary database of global sanctions, watchlists, and Ethereum wallet forensics; CustodyWare provides SEC-registered Transfer Agents, such as VStock Transfer, with digital securities custody, dividend payment services, and cap table management tools.
“We’re gearing up to help power a globally connected network of regulated blockchain-trading venues which we believe have the potential to drive the next generation of secondary market liquidity,” says Horizon CEO Brian Collins. “We are thrilled to give investors the opportunity to own a stake in our fintech business as well as in any future growth in our software licensing business.
“Capital markets are evolving right now, and we believe that Horizon is at the forefront of this evolution with our proprietary end-to-end suite of blockchain solutions and services that deliver a harmonized rule-book for transparent secondary trading of securities using a blockchain,” says Collins.
Horizon seeks to raise up to $5,000,000 pursuant to Regulation D Rule 506(c) to fund the global expansion of digital marketplaces, further research and development, strategic acquisitions, sales, marketing and operations. Horizon also intends to invest a portion of the proceeds to establish and power a MiFID II compliant Multilateral Trading Facility (MTF) to service European issuers, institutions and investors looking to list & trade digital securities on a blockchain. To learn more about the offering and to invest, please visit https://horizon-globex.com/invest.
About Horizon:
Horizon offers a suite of integrated blockchain software for compliant issuance through secondary trading of digital securities. Truly a compliance-first business, our solutions combine Wall Street and Silicon Valley to power the next generation of exchanges and securities offerings in the U.S. and globally. Current product solutions include asset tokenization through Tokenetics (tokenetics.com); a white-label KYC smartphone app to onboard and verify investors through KYCware (kycware.com); anti-money laundering screening against a database of global sanctions, watchlists, PEPs, and blockchain forensics through AMLCop (amlcop.com); transfer agent custody and dividend payment tools through CustodyWare (custodyware.com), and an advanced retail trading app for secondary trading on digital securities marketplaces using Open Order Book (openorderbook.com). All software applications can be utilized independently or integrated with one another. Learn more at https://horizon-globex.com/.
Press Contact:
Vanessa Malone
(805) 637-1963
Forward-Looking Statements:
This press release may include ”forward-looking statements.” To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are contained, and GlobexUS Holdings Corp. does not undertake any duty to update any forward-looking statements except as may be required by law.
The Company entered into a software license agreement with Tripoint Global Equities, LLC to provide them with software to support their BANQ® ATS digital alternative trading system, together with a smartphone mobile user application, which they are currently developing. The owners of TriPoint Global Equities are Mark Elenowitz and Michael Boswell, both officers and shareholders of Company.
Fintech
Central banks and the FinTech sector unite to change global payments space
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
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Fintech
TD Bank inks multi-year strategic partnership with Google Cloud
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
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Fintech
MAS launches transformative platform to combat money laundering
The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.
According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).
Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.
Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.
Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.
Source: fintech.global
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