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Progressive Approach in Embracing the Digital Finance Key to Labuan IBFC’s Growth in Financial Innovation

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“Labuan International Business and Financial Centre’s (Labuan IBFC’s) digital family continues to grow in recognition of the progressive approach the centre has taken in embracing the digital revolution by being as facilitative as possible to enable innovative digital business to take root in Labuan,” said Labuan Financial Services Authority (Labuan FSA) Director-General, Danial Mah Abdullah at the inaugural Connecting Digital Ecosystems in Asia 2019 (CoDE Asia 2019) conference in Kuala Lumpur today.

Mah added: “To this extent, the centre has used legacy licences like money broker, credit token licenses to provide the regulatory umbrella for the digital business to be carried out. Now that is innovation by itself. Thus, the centre has a toolbox of solutions to meet the needs of the rapidly expanding digital industry, whether from the supply or demand side”.

He went on to add that the digital business model must be legitimate, meeting international standards of compliance, transparency and prudential requirements. Thus, prospects would need to obtain Labuan FSA’s prior approval for any proposed digital business if the activities fall within the ambit of Labuan Financial Services Securities Act 2010 or Labuan Islamic Financial Services Securities Act 2010.

Labuan IBFC’s digital journey began in 2017, with eight licenses up to 2018 and 2019 has seen an exponential growth in the number of players in the centre with more than 30 licenses approved to operate as digital entities.

“Our bespoke and curated approach is an ideal match to the demands of a fast-evolving digital marketplace,” said Farah Jaafar-Crossby, CEO of Labuan IBFC Inc, the jurisdiction’s market development agency. She added Labuan IBFC’s tax neutrality and currency agnosticism adds to the appeal as a digital hub, especially since the digital marketplace is inherently borderless in its application.

“We have seen a significant increase in interest of our digital toolbox from regional and also international entities,” she said and cited Memorandum of Understandings signed between Labuan IBFC Inc with China Construction Bank, Labuan as well as Huobi Group of China, both in relation to the advancement and development of Labuan IBFC’s digital ecosystem.

She added the fast-growing ecosystem in the jurisdiction had also prompted the establishment of an industry-led Labuan Fintech Association, which is open to any party interested in participating and contributing to Labuan IBFC’s growing “digital family”.

Labuan IBFC which will celebrate its 30th year of establishment in 2020, is home to more than 6,000 active companies which includes top-ranked financial institutions comprising 55 banks, 217 insurance companies, 61 corporate service providers, more than 300 leasing companies and 43 commodity trading companies. Labuan IBFC entities employ more than 6,000 people, making the IBFC the largest employer compared to other industries in Labuan.

The Connecting Digital Ecosystems in Asia 2019 (CoDE Asia 2019) conference was attended by more than 250 delegates and featured a lineup of regional industry players and subject matter experts, discussing topics catered towards developing a holistic digital ecosystem in the region. For more information on Labuan IBFC and its offerings, log on to www.labuanibfc.com.

Fintech PR

ICP DAS-BMP Secures Pivotal TPU Deals with Medical Materials Leaders in U.S. and Japan, Boosts Product Reliability

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HSINCHU, March 19, 2024 /PRNewswire/ — ICP DAS-BMP dazzled at the prestigious MD&M West Show, where its high-quality medical-grade thermoplastic polyurethane (TPU) garnered orders from top manufacturers in U.S. and Japan. Concurrently, part of the company’s TPU products passed the ISO10993-6 test for local effects after 90-day implantation, positioning them as ideal materials for producing indwelling medical devices intended for use over 30 days.

ICP DAS-BMP, Asia’s first medical-grade TPU supplier, produces three main series of products: Alithane™ (ALP series), Durathane™ (ALC series), and Arothane™ (ARP series). The company is set to launch a new Durathane™ (ARC series), known for its exceptional biostability. All the TPU series are available in different hardness levels, colors, and concentrations of radiopaque fillers (Tungsten/Barium Sulfate). These materials are widely utilized in manufacturing cardiovascular, urological, and gastrointestinal devices, as well as medical and electromedical consumables.

ICP DAS-BMP’s Arothane™ ARP-B20 (20% Barium Sulfate) and Durathane™ ALC-B40 (40% Barium Sulfate) passed the ISO10993-6 90-day implantation test. This qualifies them for long-term invasive or implantable medical applications such as peripherally inserted central catheters (PICC) and port-a-cath. The company plans to conduct long-term implantation tests for other specifications of TPU products based on customer demand, while advancing research and development to uphold TPU product quality.

ICP DAS-BMP Medical Grade TPU Biocompatibility and Other Testing

Medical-grade TPU differs from other plastics by emitting minimal VOCs during manufacturing and having low wastewater discharge, making it extremely environmentally friendly. It contains no plasticizers or heavy metals, ensuring excellent biocompatibility and blood compatibility, and enhancing ESG sustainability. ICP DAS-BMP aims to offer safer, stable, and eco-friendly medical-grade TPU, collaborating with global medical device manufacturers to create long-term benefits and value.

Meet the company’s experts at:

CMEF (ICMD) 2024 (April 11-14) 
Booth Hall 8.1, M44, M46
NECC (Shanghai), China

Medtec Japan 2024 (April 17-19) 
Booth 2022
Tokyo Big Sight East 2~3 Hall, Japan

About ICP DAS-BMP

ICP DAS-BMP, a Taiwan-based TPU manufacturer and supplier certified with ISO 13485, operates specialized laboratories dedicated to quality management. Drawing upon three decades of industrial automation expertise from its parent company ICP DAS, ICP DAS-BMP has implemented smart factory practices to enhance product quality and expedite delivery times. Additionally, the company provides responsive after-sales support and offers flexible solutions for small order quantities.

For more information, please visit: https://bmp.icpdas.com/

For TPU products and inquiries, contact: [email protected]

ICP DAS – BMP

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Sweat Economy Brings Japanese Language Capabilities to Sweat Wallet

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The move enables millions of native Japanese speakers to access the app seamlessly

LONDON, March 19, 2024 /PRNewswire/ — Sweat Economy, the Web3 ecosystem on a mission to make the world more physically active, has launched a Japanese-language version of its Sweat Wallet mobile app. The move paves the way for millions of Japanese users to interact with the Sweat Economy ecosystem in their native tongue.

Japan has been one of the primary focus markets for Sweat Economy due to its strong and active fitness community. Sweat Wallet makes fitness fun and rewarding by allowing users to earn $SWEAT with their steps. Users can then trade $SWEAT for other mainstream crypto such as USDT, participate in prize draws, or transfer their earnings to other crypto platforms. Since launching in September 2022, Sweat Wallet has gained over 213,000 users in Japan, who have minted over 78 million $SWEAT and logged nearly 200 million steps.

Oleg Fomenko, Co-Founder of Sweat Economy said: “We’re thrilled to launch Sweat Wallet in native Japanese, in what is one of the largest fitness markets in the world. Japan has always been one of our primary focus markets. Our Japanese community members on Discord have been very active and passionate about our product development. We are super excited to launch a localized version of the app to help Japanese users navigate and experience the app without any language barrier. We aim to inspire a new wave of physical activity in the country and incentivize individuals to lead healthier lives, paving the way for the next billion users looking to participate in The Movement Economy.”

The Japanese version of Sweat Wallet is now available for download on iOS and Android. In addition to the Japanese launch, Sweat Economy has engineered a major breakthrough with NEAR Protocol’s Chain Abstraction technology—with Oleg Fomenko delivering a demo of the milestone at ETHDenver. It demonstrates that the Sweat Wallet will soon be able to allow its 15 million users to run transactions on chains other than NEAR, without the need for complex knowledge to operate on different chains. This development demonstrates Sweat Economy’s commitment to onboarding millions into both Web3 and The Movement Economy.

Oleg Fomenko, co-founder of Sweat Economy is available for interviews.

About Sweat Economy

Sweat Economy is a Web3 ecosystem on a mission to help the world be more physically active by incentivizing activity. It is powered by $SWEAT or Sweat Token, a crypto asset representing tokenized physical activity, minted by steps. The token is managed via the Sweat Wallet dApp, the non-custodial Web3 mobile wallet dApp for managing your $SWEAT and other crypto holdings. Sweat Wallet is a top 5 dApp globally, designed for the crypto-curious. Sweat Wallet is one of the world’s most popular Dapps, boasting over 3.7 million monthly unique active wallets on the platform. The Wallet works in tandem with the Sweatcoin app to accurately track users’ steps and distance and rewards them with $SWEAT that can be spent on fitness gear, athletic apparel, and other products. Sweat Wallet also fosters community and competition through its multiple gamified features, such as Sweat Hero—the dynamic NFT game based on your steps. With over 140M+ registered Sweatcoin users, and more than 10 million Sweat Token holders, Sweat Economy is facilitating one of the most significant onboardings in Web3 history.

View original content:https://www.prnewswire.co.uk/news-releases/sweat-economy-brings-japanese-language-capabilities-to-sweat-wallet-302089534.html

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Nereus Unveils Revolutionary On-Chain Derivatives Trading Platform on Polygon Network

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HONG KONG, March 18, 2024 /PRNewswire/ — Today, Nereus is excited to announce the launch of its cutting-edge derivatives trading platform on the Polygon network. Led by a team of DeFi experts, Nereus aims to transform the way people trade by offering advanced features and a commitment to pushing the boundaries of DeFi.

Highlights of the Nereus Platform:

  • Isolated Margin: Tailored control over trade size and exposure.
  • Up to 70x Leverage: Amplify trading potential with minimal spread and zero price impact.
  • Blazing Speed: Over 5,000 transactions per second and sub-10ms exchange latency.
  • Gasless Experience: Seamless trading without the burden of gas fees.
  • Cross-Chain Deposits: Simplify deposits and withdrawals across various chains.

Nereus provides a platform that combines the best aspects of centralized and decentralized exchanges, making trading more secure and transparent. This launch marks a significant step forward for derivatives trading, offering a more accessible and efficient option for investors worldwide.

By embracing innovation and leveraging the Polygon network, Nereus is leading the way towards a more inclusive and decentralized trading environment. The company’s goal is to make trading accessible to everyone, regardless of their background or location.

In the near future, Nereus plans to enhance its platform with a proprietary ZK-powered Layer 2 solution, utilizing Polygon’s Chain Development Kit (CDK). This move is aimed at improving the platform’s performance and user experience, demonstrating our commitment to innovation.

Nereus has recently been added to COCA’s DApps portfolio, expanding its reach to more users.

About Nereus

A leader in the DeFi space, Nereus is dedicated to delivering innovative trading solutions that combine speed, security, and leverage, all built on the robust Polygon network.

Discover the future of trading with Nereus at https://nereus.finance

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Nereus

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/nereus-unveils-revolutionary-on-chain-derivatives-trading-platform-on-polygon-network-302092120.html

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