Fintech

Green Panda Announces Proposed Qualifying Transaction

Published

3 years ago

April 1, 2022

Toronto, Ontario–(Newsfile Corp. – April 1, 2022) – Green Panda Capital Corp. (TSXV: GPCC.P) (“Green Panda” or the “Company“) is pleased to announce that it has entered into a non-binding letter of intent dated March 15, 2022 (the “LOI“) with 1301666 B.C. Ltd. (“BC Company“), a private company that holds the rights to acquire an interest in two mineral exploration properties in Nevada. The LOI outlines the principal terms and conditions of a business combination by way of a share exchange, merger, amalgamation, arrangement, takeover bid, or other similar form of transaction (the “Proposed Transaction“), which will result in BC Company becoming a wholly-owned subsidiary of Green Panda, or otherwise combining its corporate existence with a wholly-owned subsidiary of Green Panda.

Green Panda is a Capital Pool Company and intends for the Proposed Transaction to constitute its Qualifying Transaction pursuant to the policies of the TSX Venture Exchange (the “TSXV“). In connection with the announcement of the LOI, the trading in the common shares of Green Panda (“Green Panda Shares“) has been halted pursuant to the policies of the TSXV. It is anticipated that Trading will remain halted until the completion of the Proposed Transaction. It is anticipated that the reporting issuer resulting from the Proposed Transaction (the “Resulting Issuer“) will qualify as a Tier 2 Mining Issuer pursuant to the requirements of the TSXV. Unless otherwise indicated, any capitalized term contained in this press release that is not defined herein has the meaning ascribed to such term in the policies of the TSXV.

Proposed Transaction Summary

Upon completion of the Proposed Transaction, the Resulting Issuer will carry on the business of BC Company. Pursuant to the Proposed Transaction, holders of the issued and outstanding common shares of BC Company (“BC Company Shares“) will exchange their BC Company Shares for common shares of the Resulting Issuer (“Resulting Issuer Shares“) on a one-for-one basis (the “Exchange Ratio“). Convertible securities of BC Company will be exercisable to acquire Resulting Issuer Shares at the Exchange Ratio. The final structure of the Proposed Transaction is subject to the receipt of tax, corporate and securities law advice for both Green Panda and BC Company.

As per the LOI, it is anticipated that concurrently with the closing of the Proposed Transaction, Green Panda or BC Company, as the case may be, will complete an equity financing (the “Concurrent Financing“) to raise gross proceeds of $2,000,000, or such other amount as is sufficient to meet the initial listing requirements of the TSXV, at a price to be determined in the context of the market, anticipated to be $0.50 per share after reflecting the Consolidation (as defined below).

Immediately prior to the closing of the Proposed Transaction, and subject to Green Panda shareholder approval, it is anticipated that Green Panda will undertake a share consolidation (the “Consolidation“) of the Green Panda Shares at a ratio to be based on the Concurrent Financing pricing, such that the outstanding common shares of Green Panda will have an aggregate deemed value of at least $1,000,000.

On closing of the Proposed Transaction, the board of the Resulting Issuer will be comprised of nominees of BC Company, and the Resulting Issuer is expected to change its name to “Falcon Butte Minerals Corp.” subject to Green Panda shareholder approval, or such other name as is determined by BC Company (the “Name Change“).

Closing of the Proposed Transaction will be subject to a number of conditions precedent, including, without limitation:

receipt of all required regulatory, corporate and third-party approvals, including TSXV approval, and compliance with all applicable regulatory requirements and conditions necessary to complete the Proposed Transaction;
completion of satisfactory results from due diligence investigations for each of the parties;
completion of BC Company’s acquisition of the Properties (as defined below);
completion of the Concurrent Financing; and
other mutual conditions precedent customary for a transaction such as the Proposed Transaction.

The Proposed Transaction is not a Non-Arm’s Length Qualifying Transaction, is not subject to TSXV Policy 5.9, and it is not expected that the Proposed Transaction will be subject to approval by Green Panda’s shareholders. There are no Non-Arm’s Length Parties of Green Panda that are Insiders of BC Company.

About BC Company

BC Company was incorporated pursuant to the Business Corporations Act (British Columbia) on April 22, 2021. Since incorporation, BC Company has focused its efforts on acquiring interests in mineral exploration properties in Nevada and obtaining a listing on a Canadian stock exchange.

BC Company’s share capital consists of an unlimited number of BC Company Shares without par value. BC Company currently has a total of 46,801,131 BC Company Shares and 15,531,130 common share purchase warrants (the “BC Company Warrants“) outstanding. Each BC Company Warrant entitles the holder thereof to acquire a BC Company Share at an exercise price of $0.30 per BC Company Share until March 17, 2024. There are currently no Control Persons of BC Company; however, it is anticipated that Lion Copper and Gold Corp. (“Lion CG“), a British Columbia company listed on the TSXV will become a Control Person of BC Company upon the closing of the Butte Valley Agreement (as defined and as further described below).

BC Company holds the rights to acquire from TUVERA Exploration Inc. (“TUVERA“) its majority interest of 65% in the Island Mountain property, a Carlin-style gold deposit located in Elko County, Nevada (the “Island Mountain Property“) and from Lion CG its 100% option interest in the Butte Valley property, a porphyry-skarn copper prospect, located in eastern Nevada about 40 miles north of Ely in north-central White Pine County (the “Butte Valley Property” and collectively with the Island Mountain Property, the “Properties“).

Island Mountain Agreement BC Company entered into an asset purchase and sale agreement dated August 21, 2021, as amended on January 2, 2022 (the “Island Mountain Agreement“), with TUVERA and TUVERA’s subsidiary, pursuant to which TUVERA agreed to sell its interest in the Island Mountain Property to BC Company or its designated nominee in consideration for BC Company agreeing to:

a. pay TUVERA the following cash consideration;

$170,000 (the “Closing Cash Payment“) on the closing date of the asset purchase (the “Island Mountain Closing“);
$100,000 on or before the 12 and 24 month anniversaries of the date of the Island Mountain Agreement; and
$150,000 on or before the 36, 48 and 60 month anniversaries of the date of the Island Mountain Agreement.

b. issue TUVERA the following Resulting Issuer Shares:

$750,000 of Resulting Issuer Shares (the “Closing Share Issuance“) on the Island Mountain Closing, subject to adjustment, with a deemed price per Resulting Issuer Share equal to the issue price of the Resulting Issuer Shares issued in the Concurrent Financing;
$200,000 of Resulting Issuer Shares upon completion of a preliminary economic assessment technical report on the Island Mountain Property, with a deemed price per Resulting Issuer Share equal to the volume-weighted average price of the Resulting Issuer Shares on the TSXV for a 10-day trading period ending two trading days before the date of issuance, subject to the minimum pricing requirements of the TSXV (the “VWAP“); and
$400,000 of Resulting Issuer Shares upon completion of a feasibility study technical report on the Island Mountain Property, with a deemed price equal to the VWAP; and

c. on the Island Mountain Closing, reserve a 2% net smelter returns royalty (the “NSR“) on the unpatented mining claims of the Island Mountain Property, subject to BC Company’s right to repurchase the NSR as follows: (i) $1,300,000 for each 1% of the NSR, or (ii) $2,400,000 for the entire NSR, payable in cash or Resulting Issuer Shares, or a combination of both, with a deemed price equal to the VWAP.

To date, BC Company has made advance cash payments to TUVERA in the aggregate amount of $45,000, which will be credited against the Closing Cash Payment on the Island Mountain Closing. BC Company has agreed to complete the following additional advance cash payments to TUVERA, which will also be credited against the Closing Cash Payment:

$15,000 to be paid on or before April 30, 2022; and
$10,000 to be paid on or before May 31, 2022.

Subject to the terms and conditions in the Island Mountain Agreement including the completion of the obligations of BC Company set out above, on the Island Mountain Closing, BC Company will acquire TUVERA’s majority interest in the Island Mountain Property upon the exchange of closing documents, including the delivery of the balance of the Closing Cash Payment and the Closing Share Issuance to TUVERA.

Pursuant to the terms of the Island Mountain Agreement, BC Company has agreed to complete the following cash payments and issuances of Resulting Issuer Shares calculated based on the then-applicable VWAP to TUVERA, for achieving the following mineral resource milestones on the Island Mountain Property after the Island Mountain Closing:

$900,000 cash and $200,000 of Resulting Issuer Shares for completion of a technical report estimating at least 750,000 ounces of gold or gold equivalent mineral resources on the Island Mountain Property;
$200,000 cash and $200,000 of Resulting Issuer Shares for completion of a technical report estimating at least 1,000,000 ounces of gold or gold equivalent mineral resources on the Island Mountain Property;
$200,000 cash and $500,000 of Resulting Issuer Shares for completion of a technical report estimating at least 1,500,000 ounces of gold or gold equivalent mineral resources on the Island Mountain Property;
$700,000 cash and $1,000,000 of Resulting Issuer Shares for completion of a technical report estimating at least 2,000,000 ounces of gold or gold equivalent mineral resources on the Island Mountain Property; and
$1,200,000 cash and $1,500,000 of Resulting Issuer Shares for completion of a technical report estimating at least 3,000,000 ounces of gold or gold equivalent mineral resources on the Island Mountain Property.

The Island Mountain Closing is subject to a number of conditions precedent, including, but not limited to, BC Company meeting certain capital requirements, the concurrent closing of the Proposed Transaction and the Resulting Issuer entering into a consulting agreement with TUVERA for TUVERA to make available two directors and officers of TUVERA, to provide advice on the development of the Island Mountain Property in consideration for the payment $50,000 in cash and $300,000 in Resulting Issuer Shares on the Island Mountain Closing and an annual consulting fee of $50,000.

Asset Information Summary – Island Mountain Property

The Island Mountain Property is located in Elko County, Nevada, on the Independence Gold Trend and in close proximity to the Jerritt Canyon Trend, approximately 113 kilometres north of the city of Elko. The Island Mountain Property is composed of 78 unpatented lode mineral claims on public land plus 8 patented claims leased from private individuals, covering an aggregate of approximately 592 hectares.

The style of mineralization at the Island Mountain Property is a Carlin-type, commonly hosted by carbonate strata near normal and thrust faults that may have served as hydrothermal feeder conduits and/or as aquitards that channeled mineralization into favourable-structured prepared zones or receptive beds. There also is a common association with dikes of felsic to mafic composition. Carlin-type gold mineralization is generally accompanied by a characteristic suite of pathfinder elements (arsenic, antimony, bismuth, mercury, and in places barium, tungsten, and thallium). Both oxide and sulphide gold mineralization occur on the Property.

Initial drilling on the Island Mountain Property was conducted by Cordex Exploration Syndicate in 1982, and through the 1990s a number of property holders conducted further exploration programs, including 225 drill holes. A further exploration programs in 2003 and 2004 included 80 reverse circulation (“RC“) drill holes and 10 diamond drill holes. Exploration programs in 2012 and 2013 included 26 RC holes and six diamond drill holes. Total past drilling on the Island Mountain Property includes 348 holes covers 8,094 metres. The Company has commissioned a technical report on the Island Mountain Property, that the Company anticipates will include a current mineral resource estimate.

Butte Valley Agreement

BC Company entered into a property acquisition agreement dated January 26, 2022 (the “Butte Valley Agreement“) with a subsidiary of Lion CG (“Lion Subco“) pursuant to which Lion Subco agreed to sell to BC Company its interest in the Butte Valley Property, which consists of two options to acquire a 100% interest in: (a) 78 unpatented mining claims located in White Pine County, Nevada and certain data, subject to an underlying 2% NSR (the “NS Property“); and (b) 600 mining claims located in White Pine County, Nevada, subject to an underlying 2.5% NSR (the “NorthEx Property“), in consideration for BC Company agreeing to:

pay a cash payment of US$500,000 as reimbursement of explorations costs payable on the closing date of the Proposed Transaction, or earlier in certain circumstances;
issue 15,750,000 BC Company Shares to Lion Subco or Lion CG, at a deemed price of $0.20 per BC Company Share, subject to adjustment; and
grant a 1.5% NSR on each of the NS Property and NorthEx Property, subject to a buy-down to a 1% NSR with payment of US$7,500,000 per property.

Lion Subco’s interest in the underlying agreements with respect to the NS Property and the NorthEx Property, as described below, will be assigned to BC Company on the closing of the Butte Valley Agreement. Upon the closing of the Butte Valley Agreement, BC Company may acquire a 100% interest in the NS Property and the NorthEx Property by completing the option payments described below.

The closing of the Butte Valley Agreement is subject to LCG obtaining the approval of the TSXV, and completion of a private placement by BC Company for gross proceeds of not less than $2,000,000.

NS Agreement

Lion Subco entered into an option agreement dated December 3, 2019 (the “NS Agreement“) with Nevada Select Royalty, Inc. (“Nevada Select“), whereby Nevada Select granted to Lion Subco an option to purchase a 100% interest in the NS Property, for a five-year option period, in consideration for the following cash payments to Nevada Select:

US$15,000 on December 3, 2019 (complete);
US$24,711.61 reimbursement for 2020 claim fees and staking costs on December 3, 2019 (complete);
US$35,000 on or before December 3, 2020 (complete);
US$50,000 on or before December 3, 2021 (complete);
US$50,000 on or before December 3, 2022;
US$50,000 on or before December 3, 2023; and
US$50,000 on or before December 3, 2024.

Upon exercise of the option to acquire the NS Property, Nevada Select will be granted a 2% NSR on the NS Property, with a buyback right to reduce the NSR to 1% for the payment of US$10,000,000 to Nevada Select.

NorthEx Agreement

Lion Subco entered into a mining lease with an option to purchase agreement dated August 22, 2019, as amended on December 6, 2019 and July 30, 2021 (the “NorthEx Agreement“) with North Exploration, LLC (“NorthEx“) pursuant to which: (i) NorthEx leased the NorthEx Property to Lion Subco for aggregate lease payments of up to US$605,000 to maintain the lease up to August 1, 2025; and (ii) NorthEx granted an option to Lion Subco to purchase a 100% interest in the NorthEx Property at any time during the term of the lease for an amount equal to US$600,000 less the sum of the amounts previously paid to maintain the lease. To date, US$55,000has been paid to NorthEx under the NorthEx Agreement to maintain the lease until August 1, 2022. Upon exercise of the option to acquire the NorthEx Property, NorthEx will be granted a 2.5% NSR on the NorthEx Property, with a buyback right to reduce the NSR to 1.5% for the payment of US$1,000,000 to NorthEx, and a right to further reduce the NSR to 1% for the payment of US$5,000,000 to NorthEx within 10 years after the exercise of the option.

Asset Information Summary – Butte Valley Property

The Butte Valley property is a porphyry copper-gold property located in White Pine County, near Ely, Nevada. Over its recent history, there have been seventeen holes drilled on the Butte Valley Property, and geophysical studies including heli-MAG and Induced Polarization (IP) have been completed. To date a mineral resource has not been established, however the Butte Valley Property has the potential to contain a magnetite-rich copper skarn deposit.

Sponsorship for the Proposed Transaction

Sponsorship for the Qualifying Transaction of a Capital Pool Company is required by the TSXV, unless exempt in accordance with TSXV policies. The Company intends to apply for a waiver from the requirement to obtain a Sponsor for the Proposed Transaction, however, there can be no assurance that a waiver will be obtained. If a waiver from the sponsorship requirement is not obtained, a Sponsor will be identified at a later date. An agreement to act as Sponsor in respect of the Proposed Transaction should not be construed as any assurance with respect to the merits of the Proposed Transaction or the likelihood of its completion.

Filing Statement

In connection with the Proposed Transaction and pursuant to the requirements of the TSXV, Green Panda intends to file on SEDAR (www.sedar.com) a filing statement (or an information circular in the event that the Proposed Transaction requires approval by the shareholders of Green Panda), which will contain details regarding the Proposed Transaction, Green Panda, BC Company and the Resulting Issuer.

Further Information

Green Panda intends to issue a subsequent press release in accordance with the policies of the TSXV providing further details in respect of the Proposed Transaction, including information relating to the transaction structure, the definitive agreement, descriptions of the proposed Principals and Insiders of the Resulting Issuer, as well as the Concurrent Financing. In addition, a summary of BC Company’s financial information will be included in a subsequent news release.

For further information, please contact:

Green Panda Capital Corp.
Xin (Richard) Zhou
President and Chief Executive Officer
[email protected]

On behalf of the board of directors of BC Company:

Stephen Goodman, President

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The securities of the Company and BC Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws unless pursuant to an exemption from such registration.

Cautionary Note

Completion of the transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

C. Travis Naugle, QP-MMSA, a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is the Chairman and CEO of BC Company, and has reviewed and approved the scientific and technical disclosure in this press release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the Proposed Transaction and certain terms and conditions thereof, the ability of the parties to enter into a definitive agreement and complete the Proposed Transaction, the Consolidation, the Exchange Ratio, the Name Change, the Resulting Issuer’s ability to qualify as a Tier 2 Mining issuer, the TSXV sponsorship requirements, shareholder, director and regulatory approvals, obtaining TSXV approval, completion of the Concurrent Financing, BC Company’s acquisition of an interest in the Properties, the potential exercise of the options under the NS Agreement and the NorthEx Agreement, the duration of the halt in respect of the Green Panda Shares, planned future press releases and disclosure, and other statements that are not historical facts. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to geological risks, risks associated with the effects of COVID-19, the financial markets generally, the ability of BC Company to acquire an interest in the Properties, the results of the due diligence investigations to be conducted in connection with the Proposed Transaction, the ability of the Company to complete the Proposed Transaction or obtain requisite TSXV acceptance and, if applicable, shareholder approvals. As a result, the Company cannot guarantee that the Proposed Transaction will be completed on the terms described herein or at all. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118980

Fintech

Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub

Published

22 hours ago

November 25, 2024

Adrienn Sarkany

fintech-latvia-association-releases-fintech-pulse-2024:-a-guide-to-latvia’s-growing-fintech-hub

The Fintech Latvia Association has launched the latest edition of its annual publication, Fintech Pulse 2024, unveiling insights and resources that position Latvia as a thriving hub for European fintech.

Announced at this year’s Fintech Forum, the magazine is now available in digital format, offering a comprehensive guide for fintech professionals and entrepreneurs navigating the Latvian market and exploring its advantages.

This issue covers essential topics, from support tools provided by Latvijas Banka and newcomer roadmaps to Riga’s investor resources and fintech education opportunities. Readers will find the latest fintech news from Latvia, coverage of this year’s key industry events, and member insights on the future of fintech. The Fintech Landscape section provides a comprehensive overview of the Latvian fintech ecosystem.

Tina Lūse, Managing Director of Fintech Latvia Association, expressed excitement about the ecosystem’s growth: “We are excited to unveil the third annual edition of Fintech Pulse. This year has been pivotal for our ecosystem, and together with public sector stakeholders, we are enhancing financial inclusion, democratizing investments, and driving innovation throughout the sector. This is a testament to Latvia’s emergence as a fintech hub, establishing itself as an equal partner in innovation and support within the Baltic region.”

Minister of Finance Arvils Ašeradens highlighted Latvia’s fintech potential in the magazine, stating: “Latvia has already made strides in adapting its regulatory framework to support a stable financial system. Now, we encourage financial market players to invest in modern technologies to meet the growing demand for inclusive financial services and solidify Latvia’s position in the fintech landscape. We are confident that with the combined offer of the government, Latvijas Banka and Riga city, we are a great place to start your next scalable European FinTech!”

Minister of Economics Viktors Valainis expressed Latvia’s ambition in the magazine, stating: “Latvia wants to become a WEB 3.0. innovation hub and solidify itself as one of the leaders of a newly regulated EU crypto-asset market. We welcome international companies to choose Latvia, a flexible and fast-paced country, where you can obtain a MICA license in just 3 months. Open your office in Latvia, receive a MICA license and serve the whole EU market!”

The Fintech Latvia Association brings together fintech and non-banking financial service providers to represent their interests at both the national and international levels. It promotes sustainable development in Latvia’s financial sector by fostering reliable, responsible, and long-term industry practices that earn trust from consumers and regulatory authorities. The association is committed to supporting innovation and growth opportunities within the fintech landscape.

The post Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub appeared first on News, Events, Advertising Options.

Fintech

Quantum Security and the Financial Sector: Paving the Way for a Resilient Future

Published

24 hours ago

November 25, 2024

Zoltan Tundik

quantum-security-and-the-financial-sector:-paving-the-way-for-a-resilient-future

The World Economic Forum (WEF) has released a pivotal white paper in collaboration with the Financial Conduct Authority (FCA), titled “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”. This January 2024 publication underscores the urgent need for global cooperation as the financial sector transitions from a digital economy to a quantum economy, highlighting both the immense opportunities and cybersecurity challenges posed by quantum computing.

Quantum: A Double-Edged Sword for Finance

Quantum computing offers transformative benefits for the financial sector, such as accelerated portfolio optimization, enhanced fraud detection, and improved risk management. Yet, it simultaneously threatens the very foundation of cybersecurity. With quantum’s ability to break traditional encryption methods, sensitive data and financial transactions face significant risks. The white paper warns that such vulnerabilities could erode trust in the financial system and destabilize global markets.

The urgency to prepare is evident, with some quantum threats, such as “Harvest Now, Decrypt Later” attacks, already emerging. Governments and regulators, including the United States with its National Security Memorandum on Quantum (2022), have begun advocating for quantum security readiness by 2035. However, as noted in the paper, transitioning to a quantum-secure infrastructure is a monumental task requiring unprecedented coordination between regulators, industry leaders, and technology providers.

A Collaborative Framework: Four Guiding Principles

To address the complex challenges posed by quantum technologies, the WEF and FCA have proposed four guiding principles to inform global regulatory and industry approaches:

Reuse and Repurpose: Leverage existing regulatory frameworks and tools to address quantum risks, rather than creating entirely new systems.
Establish Non-Negotiables: Define baseline requirements for quantum security, ensuring consistency and interoperability across organizations and jurisdictions.
Increase Transparency: Foster open communication between regulators and industry players to share best practices, strategies, and knowledge.
Avoid Fragmentation: Prioritize global collaboration to harmonize regulatory efforts and avoid inconsistencies that could burden multinational organizations.

These principles aim to create a unified, forward-looking strategy that balances innovation with security.

A Four-Phase Roadmap for Quantum Security

The white paper introduces a phased roadmap to help the financial sector transition toward quantum security:

Prepare: Raise awareness of quantum risks, assess cryptographic infrastructure, and build internal capabilities.
Clarify: Formalize engagement between stakeholders, map current regulations, and model the cost and complexities of transitioning to quantum-safe systems.
Guide: Address regulatory gaps, translate technical standards into actionable frameworks, and develop industry-wide best practices.
Transition and Monitor: Implement cryptographic management modernization and adopt iterative, adaptable regulatory approaches to remain resilient in the quantum economy.

This roadmap emphasizes adaptability, encouraging stakeholders to continuously refine their strategies as quantum technologies evolve.

The Path Forward: Collaboration as a Catalyst

The transition to a quantum-secure financial sector is not merely a technological shift but a comprehensive rethinking of how industries and regulators approach cybersecurity. The interconnected nature of global finance means that collaboration between mature and emerging markets is crucial to avoid vulnerabilities that could undermine the entire system.

Regulators and financial institutions must act with urgency. As Sebastian Buckup, Head of Network and Partnerships at the World Economic Forum, notes in the report:
“The quantum economy era is fast approaching, and we need a global public-private approach to address the complexities it will introduce. We welcome this opportunity to collaborate with the FCA to chart the roadmap for a seamless and secure transition for the financial services sector.”

Similarly, Suman Ziaullah, Head of Technology, Resilience, and Cyber at the FCA, emphasizes:
“Quantum computing presents considerable opportunities but also threats. The financial sector relies heavily on encryption to protect sensitive information, the exposure of which could cause significant harm to consumers and markets. Addressing this requires a truly collaborative effort to transition to a quantum-secure future.”

Global Impact: Ensuring Resilience in an Evolving Landscape

As quantum technologies mature, they will redefine the landscape of cybersecurity. The financial sector, as one of the most sensitive and interconnected industries, must prioritize preparedness to ensure stability, protect consumers, and maintain trust.

The Quantum Security for the Financial Sector: Informing Global Regulatory Approaches white paper offers an essential foundation for continued dialogue and action. By adhering to the guiding principles and roadmap outlined in the report, stakeholders can navigate this transformation with foresight and cooperation.

The full report, published by the World Economic Forum, highlights the need for a unified global approach to quantum security, serving as a rallying call for industry and regulatory leaders alike.

Source: World Economic Forum, “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”, January 2024.

The post Quantum Security and the Financial Sector: Paving the Way for a Resilient Future appeared first on News, Events, Advertising Options.

Fintech

Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations

Published

5 days ago

November 21, 2024

Peter Tolan

fintech-pulse:-daily-industry-brief-–-a-dive-into-today’s-emerging-trends-and-innovations

The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.

Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion

Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.

By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.

Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.

Source: Fintech Futures.

Juniper Research Highlights 2025’s Payment Trends

Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.

The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.

Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.

Source: Juniper Research.

MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets

MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.

MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.

Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.

Source: MeaWallet News.

Nucleus Security Among Deloitte’s Fastest-Growing Companies

Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.

With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.

Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.

Source: PR Newswire.

OpenYield Secures Funding to Transform the Bond Market

OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.

This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.

Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.

Source: PR Newswire.

Key Takeaways: Shaping the Future of Fintech

Today’s developments underscore several critical themes in the fintech landscape:

Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.

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