Fintech
QuantGate and CoinAnalyst Announce LOI to Merge, Creating One of the Leading Providers of Artificial Intelligence and Machine Learning Solutions for the Financial Services Industry
Toronto, Ontario and New York, New York–(Newsfile Corp. – October 20, 2022) – QuantGate Systems Inc. (OTCQB: QGSI) (the “QuantGate” or “Company“), an Artificial Intelligence (“AI“), Machine Learning (“ML“) SaaS-based Fintech solutions provider is pleased to announce that it has entered into a non-binding letter of intent dated October 14, 2022 (the “LOI“) with CoinAnalyst Corp. (CSE: COYX) (FSE: 1EO) (“CoinAnalyst“) pursuant to which the Company and CoinAnalyst will enter into a business combination by way of a share exchange, three-corner amalgamation, merger, amalgamation, arrangement or other similar form of transaction (collectively, the forgoing with any related transaction, the “Transaction“) which will result in QuantGate and all of its subsidiaries and affiliates becoming directly or indirectly wholly owned subsidiaries of the CoinAnalyst (upon completion of the Transaction, referred to as the “Resulting Issuer“).
The Transaction will therefore result in a reverse take-over of CoinAnalyst by QuantGate whereby the existing shareholders of QuantGate will own a majority of the outstanding common shares of CoinAnalyst. The Resulting Issuer will be a technology issuer and its primary business will be that of QuantGate’s business.
The acceptance of the LOI will be followed by good faith negotiations of definitive documentation, including a definitive merger, amalgamation or share exchange agreement (the “Definitive Agreement“) among the parties setting forth the detailed terms of the Transaction, including the basic understandings set out in the LOI and such other terms and conditions as are customary for transactions of the similar nature and magnitude of the Transaction.
About the Combined Companies
CoinAnalyst is a Frankfurt-based startup, with its headquarters located in Toronto and sales infrastructure in the United States and Europe. CoinAnalyst uses machine learning algorithms to detect and provide social sentiment analysis for cryptocurrencies and its shared underlying Big Data/AI platform is currently used by several of the largest Fortune 500 companies in the German automotive industry, as well as aviation industries.
The addition of CoinAnalyst’s technology fits into QuantGate’s overall strategy to expand its product offerings and distribution. CoinAnalyst would bring big data expertise and AI technology, subscribers to a monthly electronic newsletter, and AI Based analytic tools for cryptocurrency investors. Together with QuantGate’s near term opportunity signals, the Resulting Issuer anticipates that it will offer an attractive analytical package to trading firms and traders of all asset classes.
The combined Big Data and AI/ML features would allow the new entity to expand its services to Banking, Finance Services, Payments, and Insurance, which has a market size of USD 15.65 Billion in 2020 and is expected to reach USD 86.68 Billion in 2027.
Govin Misir, CEO of QuantGate: “I am excited to lead this team into the future. The proposed combination of our two companies marks an important milestone in our mission to provide cutting-edge big data solutions to the banking, financial services, insurance, and payment industries. The anticipated synergies between our two teams will position the combined entity to deliver solutions that help our clients stay ahead of the curve.”
“We originally connected with QuantGate to form a strategic partnership,” stated Pascal Lauria, Founder and CEO of CoinAnalyst, “But we quickly realized that a merger between the two companies has the ability to deliver big data & AI based fintech products in both the traditional finance and digital asset markets. We look forward to a combined entity rolling out best-in-class solutions.”
About the Transaction
Upon completion of the Transaction, CoinAnalyst shall represent in aggregate approximately three percent (3%) of the issued and outstanding common shares of the Resulting Issuer and QuantGate shall represent approximately ninety-seven percent (97%). Concurrent with the completion of the Transaction, the common shares of CoinAnalyst (the “Common Shares“) shall be consolidated on a basis of 14.02 current Common Shares (the “Consolidation Ratio“) for 1 post-consolidation Common Share prior to closing (the “Consolidation“), such that there will be approximately 6,046,018 common shares of the Resulting Issuer (the “Resulting Issuer Shares“) issued and outstanding to the former security holders of CoinAnalyst upon the completion of the Transaction; and approximately 282,806,297 Resulting Issuer Shares will be held by the former security holders of QuantGate.
In connection with the entering into of the Definitive Agreement, certain directors, officers, and significant shareholders of CoinAnalyst will also enter into lock-up agreements for a period of six months.
CoinAnalyst will change its company name to such name as QuantGate may determine which shall become effective concurrent with the completion of the Transaction.
There are no finders’ fee payable in connection with the Transaction.
In conjunction with the Transaction, QuantGate may complete a private placement to raise gross proceeds of approximately $5,000,000 (the “Private Placement“). QuantGate anticipates using the net proceeds of the Private Placement to satisfy the business development, working capital requirements of the Resulting Issuer, and the development of the Company’s entity, RockStock Equities Inc. The completion of the Private Placement is currently not contemplated to be a closing condition of the Transaction.
About CoinAnalyst
CoinAnalyst provides an artificial intelligence-based big data analytics platform that enables investors in the digital asset sector and other industries detailed AI-powered analysis of market sentiment, fundamentals, and technical indicators. The platform monitors and analyzes real-time data from the digital asset market. The software monitors news sources, tracks influencers, scans online social media, and provides sentiment analysis, forecasted trade signals on the top 300 digital assets (more are added regularly). Additionally, the software system provides news, price quotes, and allows for messaging.
The SaaS platform is accessed through a monthly subscription model, which ranges in price depending on whether the plan is basic, professional, or corporate. To learn more about CoinAnalyst: www.coinanalyst.tech.
Significant Conditions to Closing
The completion of the Transaction is subject to a number of conditions precedent, including but not limited to satisfactory due diligence review, negotiation and execution of the Definitive Agreement respecting the Transaction and accompanying transaction documents, approval by the boards of directors of each of the CoinAnalyst and QuantGate, approval of the shareholders of QuantGate (if necessary) and the Company, obtaining necessary third party approvals, Canadian Securities Exchange (the “CSE“) acceptance, and completion of the Consolidation. There can be no assurance that the Transaction will be completed as proposed, or at all.
Upon completion of the Transaction, it is anticipated that the board of directors of CoinAnalyst will resign, and QuantGate shall appoint a new board of directors and management of the Resulting Issuer.
Further Information
The financial information of both companies and the biographical information of the anticipated directors and officers of the Resulting Issuer shall be provided in accordance with the policies of the CSE in a subsequent press release upon the entry of the Definitive Agreement.
About the Company
QuantGate Systems Inc. (OTCQB: QGSI) is a publicly-traded fintech company operating for over ten years, developing sophisticated Artificial Intelligence (AI), Machine Learning (ML), and proprietary big-data processing algorithms and analytics to deliver SaaS solutions and seamless API integration. Pilot Trading (www.pilottrading.co) is a 100% wholly-owned subsidiary of QuantGate. Our core intelligence identifies investment opportunities across multiple asset classes, rooted in the financial markets, and perfected for cryptocurrency exchanges, enabling our valued clients to make better-informed investment decisions. Turnkey solutions and efficient APIs, founded on robust and scalable SaaS architecture, easily allow 3rd party integration for onboarding existing users and scaling globally.
ON BEHALF OF THE BOARD OF DIRECTORS
For additional information on QuantGate Systems Inc., please visit the Company’s website at www.quantgatesystems.com, or visit social media: Twitter, Facebook, and LinkedIn.
For further information on Pilot, please visit www.pilottrading.co and connect on Facebook and Instagram.
Contact Information:
QuantGate Systems Inc.
Govin Misir, CEO & President
150 Bloor Street West, M103
Toronto, ON, M5S 1M4
E: [email protected]
T: +1 (416) 580 8604
Forward-Looking Statements Disclaimer and Reader Advisory:
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful
This press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,”, “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Examples of forward-looking statements in this news release include the: (i) the anticipated business combination of the Company and CoinAnalyst resulting in the Transaction; (ii) the majority ownership of the Resulting Issuer by the QuantGate existing shareholders; (iii) the negotiation of the Definitive Agreement; (iv) the business fit of CoinAnalyst and the Company and the various elements that CoinAnalyst brings to the table; (v) the anticipated share structure and equity ownership percentages of the Resulting Issuer; (vi) the expansion of the Resulting Issuer into the banking, finance services, payments, and insurance industry; (vii) comments by Mr. Misir related to the anticipated combination of the two companies, and the resulting synergies; (viii) comments by Mr. Lauria related to the product delivery of the Resulting Issuer and offering best-in-class solutions; (ix) the anticipated Consolidation of the Common Shares; (x) the entry of lock-up agreements by directors, officers, and shareholders of CoinAnalyst and the change of name of CoinAnalyst; (xi) the anticipated Private Placement and the accompanying terms; (xii) the anticipated conditions to the closing of the Transaction; and (xiii) the release of financial and biographical information in a future press release upon signing of the Definitive Agreement. These forward-looking statements are based on assumptions as of the date they are provided, including assumptions that the Transaction will be consummated in accordance with the terms of the LOI, a Definitive Agreement will be reached, all conditions of the Transaction will be fulfilled, the execution of the business strategies by the management of both companies, the Resulting Issuer realizing expected synergies, no adverse regulatory changes to the companies’ industries, and general market and financial economic stability, and that all necessary regulatory and shareholder approvals being obtained. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others: that regulatory approval, including that of the CSE, is not obtained; that the closing conditions for completion of the Transaction are not satisfied; general economic, market and business conditions in Canada and globally; market volatility; management’s inability to implement its business plan; unforeseen delays in the timelines for any of the transactions or events described in this press release; and the risk of regulatory changes that may impact the business of the Company or CoinAnalyst. All forward-looking information is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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/141243
Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.
In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.
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Comments
There are several levels related to this point.
LEVEL 1
Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.
Just to compare:
LEVEL 2
Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.
LEVEL 3
It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.
LEVEL 4
Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.
2. Average views number per video
This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?
First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.
Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.
3. Influencer’s channel statistics
The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.
LEVEL 1
When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.
LEVEL 2
After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.
If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.
Example of statistics
Wrapping up
These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.
If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.
Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process.
Author
Nadia Bubennikova, Head of agency at Famesters
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
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
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
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
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