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I-ON Digital Corp Announces Organizational Change in Leadership

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Architect of the World’s First Gold Digitization Ecosystem ready to revolutionize the precious metals marketplace

Chicago, Illinois–(Newsfile Corp. – February 7, 2023) – I-ON Digital Corp (OTCQB: IONI) (“I-ON” or the “Company”) is pleased to announce a new team of executive officers that will lead the company’s expansion of its proprietary technology portfolio and the development new initiatives, including the deployment and use of management’s unique legacy in the development of asset-backed digital securitization.

On January 17, 2023, Carlos X. Montoya became the Company’s new Chief Executive Officer. Rod A. Smith is the Company’s new Senior Vice President of Sales and Business Development; he is also serving as the Corporate Secretary.

Mr. Montoya has been credited with designing and developing the world’s first institutional-level ecosystem for digitized gold and other precious metals, inclusive of independent financial custody, tier-one client and investor reporting and automated account management employing blockchain and Smart Contract technologies. His track record includes the development of uniform workflow standards, pricing mechanisms, regulatory compliance and reporting transparency now deployed for use in patent and patent-pending processes for the “Digitization of Precious Metals and/or Commodities on the Blockchain.”

Mr. Montoya is also an accomplished business and investment banking executive with a successful 30-year track record in acquiring, managing, and building Commercial & Merchant Banking groups, designing complex Risk-Management algorithms and the development of strategic capital resources.

Mr. Smith is a results-driven, business development strategist and proven entrepreneurial leader with a forty-year record of building multi-million-dollar revenue-producing businesses from conception to launch. Mr. Smith has amassed extensive executive leadership, market development expertise, and acumen along his entrepreneurial path, including negotiating and closing multi-million-dollar commercial real estate transactions and serving as the Founder and CEO of InContact, a billion-dollar company that was sold to NICE Systems.

The Company’s new operating model contemplates leveraging a growing portfolio of proprietary technologies, including state-of-the-art smart contracts and automated workflow platforms for use in the design, development, and deployment of fully compliant and secure decentralized ecosystems. These technologies, once acquired or developed, are poised to fuel a new generation of “institution-grade” digital assets, including digitized precious metals, digital asset-backed securities, and payment services for digital asset settlements across US and global marketplaces.

Mr. Montoya shares: “I-ON Digital will bring a number of cross-industry digital solutions to bear, including digitizing gold, with other precious metals to follow. We are in the process of acquiring additional proprietary technologies such as advanced workflow management platforms that can further automate asset digitization, custody, and data management processes. In leveraging our digital solutions expertise, we can develop a wide variety of secure, transparent and regulatory-compliant transactional instruments that have the potential to bring previously unseen liquidity to financial markets, with particular focus on the precious metals marketplace.”

More information can be found on our website https://iondigitalcorp.com/

About I-ON Digital Corp.

I-ON Digital Corp (the “Company”) will be a leader in the design, development, and deployment of fully-compliant, institutional-level ecosystems that are poised to fuel the next generation of banking, data management, asset deployment, and precious metals digitization, further supported by enhanced digital payment and reporting services worldwide. The Company’s channels for value creation include, but are not limited to, service fees associated with asset digitization, secure transactional revenues, and the licensing of the Company’s growing intellectual property portfolio for offerings to prominent institutional organizations within the financial and information technology services marketplace.

Additional information is available at https://iondigitalcorp.com/.

Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “seek”, “potential,” “outlook” and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, I-ON’s current views with respect to future events and its financial forecasts, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by I-ON with the Securities and Exchange Commission. In addition, there is uncertainty about the further spread of the COVID-19 virus or new variants thereof, or the occurrence of another wave of cases and the impact it may have on the company’s operations, the demand for the company’s products, global supply chains and economic activity in general. These and other risks and uncertainties are detailed in the company’s filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue. I-ON does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.

SOURCE: I-ON Digital Corp.

Media Contact:
Ken Park
[email protected]

(866) 440-2278
www.iondigitalcorp.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153833

Fintech

Expressions of Interest for Director of the European Bank for Reconstruction and Development

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The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.

The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.

Minister McGrath commented:

“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.

My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”

Expressions of interest will be accepted up to 3pm on 27th March 2024

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Council adopts regulation on instant payments

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The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.

The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.

The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.

Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.

The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.

The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.

Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.

The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.

Background

This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.

On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.

Source: European Council

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FCA highlights need for enhanced competition in wholesale data markets

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The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.

Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.

The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.

In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.

Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”

In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.

Source: Fintech Global

 

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