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Yunqi founding partner Michael Mao calls on fintech start-ups to safeguard boundaries and create long-term value as three of its angel-round invested companies are included in CB Insights List

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On the afternoon of June 29, CB Insights China held the “Future of Fintech CHINA and CB Insights China Fintech List” summit, and three Yunqi angel-round invested companies – 360 Finance, Inc, IceKredit and Xtransfer – were included in the List. Guest presider Michael Mao, a founding partner of Yunqi Partners, held round table dialogues and discussions with corporate leaders, exchanging ideas focused on key topics such as national policy direction, financial oversight, data compliance and applications, as well as financial security and privacy. An abstract of the views discussed is set out below:

1. The ups and downs of internet finance: Safeguard your capability boundaries and create long-term value

Prior to founding Yunqi Partners, I was a financial team leader at IDG, and looked at quite a lot of financial projects. IDG is China’s first VC involved in investing in internet finance. In retrospect, a wave of internet finance took place in China at the time, triggered by two events in the summer of 2013:

The first was Baidu’s USD1.9 billion acquisition of 91 Wireless. That was a landmark event in the internet finance sector as none of the BAT had spent so much money acquiring a start-up previously.

Another was the debut of Yu’e Bao. It was an industry and financial sector game changer. We saw lots of media reports on fintech every day. Coupled with the proposal for “mass entrepreneurship and innovation”, internet finance start-ups became all the rage, and together with O2O, became the two major start-up booms.

During that time, internet finance enterprises grew very rapidly, and became unicorns in just three to four years. In addition to being technology- and data-driven, domestic policy driven trends were significant as well. Between 2014 and 2016, start-ups in related industries burgeoned, generating enormous economic dividends, but there were poor quality companies as well. As regulatory oversight tightened, a large number of P2Ps imploded, and the fast money bubble burst. Those that ultimately survived were technology-enabled enterprises with sound growth that nourished their businesses, safeguarded their capability boundaries, and created long-term value.

2. Yunqi’s fintech layout: Early stage investment companion with focus on compliance and development

After Yunqi was founded in 2014, we were focused primarily on “technology-enabled industry upgrading”. Fintech was a key layout direction. We invested in a number of technology-driven start-ups in sectors such as cross-border corporate payment, consumer finance, small and micro credit, intelligent risk control, and supply chain finance. As an angel/early lead investor, we accompanied them throughout their growth phase.

When investing in fintech enterprises, we focus on three particular areas: First, financial background and industry experience; second, grasp of technological advantages and enabling industry development; and third, compliance. For instance, among Yunqi’s portfolio of invested enterprises, 360 Finance, Inc‘s former CEO, Xu Jun, once worked at HSBC, and was the youngest partner in McKinsey Asia Pacific in charge of banking, securities and trust operations in China; IceKredit founder Gu Lingyun was a core member of renowned US fintech start-up ZestFinance; Magnet Finance founder Yan Qiang had more than 20 years of commercial banking experience; and Xtransfer founder Deng Guobiao had more than 10 years of management experience at Visa and Ant Financial.

Some entrepreneurs had conducted finance operations based on an internet finance mindset, which in fact contravened the essence of finance. Although there was no supervision at the time, there was significant risk. We wouldn’t have invested even if these companies were affordable.

On the basis of such knowledge, despite the consistent collapse of a large number of renowned internet finance companies over the last two to three years, we have not only managed to sidestep all the mine fields and remained untarnished, all the enterprises in our portfolio have in fact grown rapidly and steadily, and three of the companies in our portfolio have been included in the CB Insights List this time round.

Going forward, although China’s financial digitalization still has a long way to go, and the 2020 pandemic will accelerate digital transformation among Chinese industries, fintech may well become the frontier of change. Entrepreneurs should grasp growth opportunities, respect objective laws, excel in their technical expertise, and enable and increase the overall value of the industry.

Fintech PR

Vantage Markets extends its competitive edge on Indices product offering with enhanced Website and App, promoting greater transparency and cost savings

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PORT VILA, Vanuatu, March 28, 2024 /PRNewswire/ — Building upon its recent success in revamping its indices product offering, leading CFD broker Vantage Markets (“Vantage”) is thrilled to announce the introduction of enhanced website features and app enhancements, further solidifying its position as a leader in the industry.

To further support indices CFD traders, Vantage has revamped its website with new features dedicated to indices trading. Traders will find extensive educational content, transparent pricing comparisons with competitors, and increased visibility into spreads offered by Vantage Markets.

“We’re committed to empowering traders with the tools they need to succeed,” remarked Marc Despallieres, Chief Strategy and Trading Officer. “Our latest developments reflect our dedication to becoming the premier destination for Indices CFD trading, providing clients with the edge they need in today’s dynamic markets.”

Indices CFD trading offers numerous advantages, including lower upfront capital requirements, leveraged trading options, and the flexibility to trade in any direction. With Vantage Markets, traders can capitalise on these benefits while tapping on a comprehensive suite of advanced tools and educational resources.

Additionally, the Vantage App has been enhanced with advanced charting tools, enabling traders to analyse market trends and execute trades with precision directly from their mobile devices.

“We’re excited to provide traders with a wealth of educational content and transparent pricing,” said Lian Jie, Assistant APP Marketing Director. “Our goal is to empower traders with the information they need to make confident decisions and succeed in the markets.”

Discover the future of Indices CFD trading with Vantage Markets. Visit https://www.vantagemarkets.com/lp/indices-trading/ to learn more.

About Vantage

Vantage is a multi-asset broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.

With over 13 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.

trade smarter @vantage

http://www.vantagemarkets.com/

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Fintech PR

WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”

Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.

Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.

Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.

“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”

Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.

Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.

About WSPN

WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.

Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.

Learn more: www.wspn.io  | Twitter | LinkedIn 

About MathWallet

MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.

Visit mathwallet.org for more information.

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Fintech PR

Announcement of change in the total number of votes in AB SKF

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GOTHENBURG, Sweden, March 28, 2024 /PRNewswire/ — Due to a conversion of shares from Series A to Series B in accordance with AB SKF’s Articles of Association, the Company confirms the following.

As per 28 March 2024, the Company’s share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 29,286,933 shares of Series A and 426,064,135 shares of Series B. The number of votes in the Company amounts to 71,893,346.5.

AB SKF does not hold any own shares.

Aktiebolaget SKF
      (publ)

Information in this press release contains information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication on 28 March 2024 at 08.00 CET.

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected] 

INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relations
tel: 46 31-337 8072; mobile: 46 705-908 072; [email protected]  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/announcement-of-change-in-the-total-number-of-votes-in-ab-skf,c3953982

The following files are available for download:

https://mb.cision.com/Main/637/3953982/2702083.pdf

20240328 Announcement of change in the total number of votes in AB SKF

 

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