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Banxa Breaks Down Crypto Barriers by Launching World-Leading Layer 2 Fiat On-Ramp

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2 years ago

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Launching Layer 2, Banxa cuts transaction time in half and reduces costs by over 300,000%1

Toronto, Ontario and Melbourne, Australia–(Newsfile Corp. – December 22, 2021) – BANXA Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or “The Company”), payment service provider (PSP) and RegTech platform for the digital assets industry, is proud to announce the launch of its world-leading Layer 2 (L2) Fiat On-Ramp.

While the cryptocurrency market has significantly grown, heavy fees and complex purchasing systems have weighed upon the industry providing unnecessary complexities and barriers to entry. The Australian-founded organisation, Banxa, has developed purchasing for a range of L2 protocols – available now – to eliminate these barriers. These protocols currently include Arbitrum, Optimism, and zkSync, allowing users to pay with Banxa’s wide range of global and local payment options, including credit card and bank transfers, for direct purchasing on L2.

The L2 Fiat On-Ramp will completely disrupt the current system by removing high “gas fees” accumulated throughout the crypto transaction process. At the same time, it will also be a catalyst to reducing fulfillment times, an issue faced within an industry that prides itself on agility and fast transactions. In 2021, Banxa processed one order every 18 seconds a day, a transaction value over USD 880 million, showcasing the true scale of transactions moving through the market.

“The crypto industry faces a complex web of challenges and barriers that might have discouraged consumers and merchants from making purchases in the past. The launch of our L2 Fiat On-Ramp offers greater accessibility to a whole new audience, breaking down two key entry barriers: high fees and faster processing times. We are honored to be launching this world-leading product as a way to transform the industry,” said Banxa CEO Holger Arians.

Banxa is a pioneer in cryptocurrency as it has created its own technology on blockchain and is rapidly expanding. The business offers a market-leading range of currencies and payment methods globally.

Since its January 6th, 2021 IPO, Banxa has gone from strength to strength, growing from 38 to over 200 team members, adding over 31 new coins and additional payment methods, such as SEPA Instant and others. Additionally, the company has accelerated its already rapid onboarding of new partners, securing 103% growth in 2021 alone.

In celebration of this launch, Banxa is offering free purchasing Layer 2 with Optimism, Arbitrum and zkSync for a limited time[2]. User’s spread fees will be waived; however, standard payment surcharges will apply, such as credit card transaction fees. This offer is now available to all users on these protocols.

ENDS

About Banxa

Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) powers the world’s largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa’s vision and mission is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.

For further information, go to www.banxa.com

This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.

These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.

Banxa’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company’s business, including: Banxa’s assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.

Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

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

———————

ON BEHALF OF THE BOARD OF DIRECTORS
Per: “DOMENIC CAROSA” https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

CONTACTS:
Investor Relations:
North America: +1 (604) 609 6169
International: +61 407 790 016
Email: [email protected]

Lytham Partners, LLC
Ben Shamsian
New York/Phoenix
Email: [email protected]

Media Contacts:
Dave Malcolm, Chief Marketing Officer
Email: [email protected]

Michelle Boland, PR Group
Email: [email protected]

1 Banxa Labs 2021, Figures from December 2021 – average $90 balancer swap vs $0.03c zkPorter transaction

2 Available for 2 weeks from 22 December, or 500K fulfilment achieved on each protocol

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108346

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“Sopra Steria” is positioned as a Leader in the 2024 SPARK MatrixTM for Cloud-Native Application Development Services by Quadrant Knowledge Solutions

Published

35 mins ago

on

April 24, 2024

By

  • The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the Cloud-Native Application Development Services (CNADS) vendors.  
  • Sopra Steria, with its comprehensive technology for Cloud-Native Application Development Services, has received strong ratings across the parameters of technology excellence and customer impact.

PARIS, April 24, 2024 /PRNewswire/ — Sopra Steria and Quadrant Knowledge Solutions announced today that Sopra Steria has been named as a leader in the Q1 2024 SPARK MatrixTM analysis of the global CNADS market.

 

 

The Quadrant Knowledge Solutions’ SPARK Matrix™: Cloud-Native Application Development Services, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix™. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.

According to Sitaparna Roy, Analyst at Quadrant Knowledge Solutions, “Sopra Steria through its Modern Apps Development Services helps organizations to convert their ideas into Minimum Viable Product (MVP) and monitor all the development stages to production with unparalleled speed, efficiency, and productivity. It facilitates this by offering Enterprise Architect Services, Low- code/ No-code services and Cloud-Native Application development Services in its Modern Apps Development Services portfolio. […] It supports innovation through adoption of the latest technologies and tools for generating new ideas for products, services, and tools. Sopra Steria’s unique ‘BizDevSecOps’ approach for end-to-end digital transformation supports effective communication and collaboration between businesses and team operations throughout the software development life cycle.”

“Sopra Steria is proud to be recognized once again as a leader in Cloud-Native Application Development Services by Quadrant Knowledge Solutions. Our commitment to innovation, customer-centricity, and excellence in service delivery has enabled us to maintain this position for the third consecutive year. We believe that our comprehensive approach to modern application development, supported by our Cloud Center of Excellence and Ingine Platform, empowers organizations to achieve their digital transformation goals efficiently and effectively.”, comments Yann Gloriau, Cloud expert at Sopra Steria.

Click here to know more.

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CONTACT: Aurélien Flaugnatti, [email protected]

 

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JCET Q1 2024 Revenue and Net Profit Achieve Double-digit Year-on-Year Growth

Published

2 hours ago

on

April 24, 2024

By

Q1 2024 Financial Highlights:

  • Revenue was RMB 6.84 billion, an increase of 16.8% year-on-year.
  • Net profit was RMB 0.13 billion, an increase of 21.7% year-on-year.
  • Generated RMB 1.37 billion cash from operations. With net capex investments of RMB 0.93 billion, free cash flow for the quarter was RMB 0.44 billion.
  • Earnings per share was RMB 0.08, as compared to RMB 0.06 in Q1 2023

SHANGHAI, April 24, 2024 /PRNewswire/ — JCET Group (SSE: 600584), a leading global provider of integrated circuit (IC) back-end manufacturing and technology services, today announced its  financial results for the first quarter of 2024. According to the financial report, in Q1 2024 JCET achieved revenue of RMB 6.84 billion, an increase of 16.8% year-on-year, and net profit of RMB 0.13 billion, an increase of 21.7% year-on-year. The company’s revenue has achieved year-on-year growth for two consecutive quarters.

JCET demonstrates continued success in high-performance advanced packaging and its core applications. Since the second half of 2023, customer demand has gradually recovered and the company’s business performance has continuously rebounded. In the first quarter of this year, JCET continued the trend of steady development, with a healthy inventory turnover. Multiple business fields including communication electronics, computing electronics, and consumer electronics achieved growth compared to the same period last year. The company has strategically increased R&D investment in advanced technology, resulting in stable high-volume manufacturing (HVM) of its multi-dimensional fan-out heterogeneous integration XDFOI technology across multiple JCET factories. This technology offers advanced chiplet packaging solutions for global customers, addressing market demands in high-performance computing (HPC) and high bandwidth memory (HBM).

With a focus on future development, JCET has strengthened its core competitiveness by increasing the capital of its wholly-owned subsidiary, JCET Management Co., Ltd., by RMB 4.5 billion. Doing so further refines its business strategy in automotive electronics, memory and computing electronics.

Mr. Li Zheng, CEO of JCET, said, “JCET has maintained steady business performance in the first quarter of 2024 with double-digit year-on-year growth. As the semiconductor market rebounds, JCET is accelerating production capacity release and fostering joint innovation with customers in high-performance memory, high-performance computing, and high-density power management. These efforts position JCET to play an even more prominent role in the global semiconductor industry.”

For more information, please refer to the JCET Q1 2024 Report.

About JCET Group

JCET Group is the world’s leading integrated-circuit manufacturing and technology services provider, offering a full range of turnkey services that include semiconductor package integration design and characterization, R&D, wafer probe, wafer bumping, package assembly, final test and drop shipment to vendors around the world.

Our comprehensive portfolio covers a wide spectrum of semiconductor applications such as mobile, communication, compute, consumer, automotive and industry etc., through advanced wafer level packaging, 2.5D/3D, System-in-Packaging, and reliable flip chip and wire bonding technologies. JCET Group has two R&D centers in China and Korea, six manufacturing locations in China, Korea and Singapore, and sales centers around the world, providing close technology collaboration and efficient supply-chain manufacturing to customers in China and around the world.

CONSOLIDATED BALANCE SHEET (Unaudited)                                                                

RMB in millions

Mar 31, 2024

Dec 31, 2023

ASSETS

Current assets

  Currency funds

9,977

7,325

  Trading financial assets

1,752

2,306

  Derivative financial assets

0

4

  Accounts receivable

3,577

4,185

  Receivables financing

49

38

  Prepayments

135

104

  Other receivables

109

87

  Inventories

3,222

3,195

  Other current assets

353

375

Total current assets

19,174

17,619

Non-current assets

  Long-term receivables

32

33

  Long-term equity investments

677

695

  Other equity investments

442

447

  Investment properties

85

86

  Fixed assets

18,563

18,744

  Construction in progress

1,220

1,053

  Right-of-use assets

543

563

  Intangible assets

662

662

  Goodwill

2,251

2,248

  Long-term prepaid expenses

15

17

  Deferred tax assets

362

364

  Other non-current assets

84

48

Total non-current assets

24,936

24,960

Total assets

44,110

42,579

LIABILITIES AND EQUITY  

Mar 31, 2024

Dec 31, 2023

Current liabilities

  Short-term borrowings

463

1,696

  Derivative financial liabilities

2

0

  Notes payable

307

223

  Accounts payable

4,508

4,782

  Contract liabilities

129

185

  Employee benefits payable

646

781

  Taxes and surcharges payable

180

167

  Other payables

377

354

  Current portion of long-term liabilities

1,538

1,491

  Other current liabilities

2

3

Total current liabilities

8,152

9,682

Non-current liabilities

  Long-term borrowings

7,940

5,777

  Lease liabilities

504

530

  Long-term payables

4

0

  Long-term employee benefits payable

15

14

  Deferred income

390

384

  Other non-current liabilities

36

41

Total non-current liabilities

8,889

6,746

Total liabilities

17,041

16,428

Equity

  Paid-in capital

1,789

1,789

  Capital reserves

15,244

15,237

  Accumulated other comprehensive income

555

543

  Specialized reserves

1

0

  Surplus reserves

257

257

  Unappropriated profit

8,374

8,239

Total equity attributable to owners of the parent

26,220

26,065

Minority shareholders

849

86

Total equity

27,069

26,151

Total liabilities and equity

44,110

42,579

CONSOLIDATED INCOME STATEMENT (Unaudited)                                                                                                     

RMB in millions, except share data

Three months ended

Mar 31, 2024

Mar 31, 2023

Revenue

6,842

5,860

Less: Cost of sales

6,007

5,166

          Taxes and surcharges

13

20

          Selling expenses

54

49

          Administrative expenses

224

171

          Research and development expenses

381

309

          Finance expenses

8

57

            Including: Interest expenses

93

64

                     Interest income

61

9

Add: Other income

39

32

         Investment income / (loss)

(10)

2

            Including: Income / (loss) from investments in associates and joint ventures

(17)

(12)

         Gain / (loss) on changes in fair value of financial assets/liabilities 

(5)

8

         Credit impairment (loss is expressed by “-“)

7

5

         Asset impairment (loss is expressed by “-“)

(18)

6

         Gain / (loss) on disposal of assets 

3

3

Operating profit / (loss)

171

144

Add: Non-operating income

1

0

Less: Non-operating expenses

0

3

Profit / (loss) before income taxes

172

141

Less: Income tax expenses

38

31

Net profit / (loss) 

134

110

Classified by continuity of operations

  Profit / (loss) from continuing operations

134

110

Classified by ownership

  Net profit / (loss) attributable to owners of the parent

135

110

  Net profit / (loss) attributable to minority shareholders

(1)

0

Add: Unappropriated profit at beginning of period

8,239

7,154

Unappropriated profit at end of period (attributable to owners of the parent）

8,374

7,264

Other comprehensive income, net of tax

12

(131)

Comprehensive income attributable to owners of the parent

12

(131)

Comprehensive income not be reclassified to profit or loss

(4)

11

  Remeasurement gains or losses of a defined benefit plan

0

1

  Change in the fair value of other equity investments

(5)

10

Comprehensive income to be reclassified to profit or loss

17

(142)

  Exchange differences of foreign currency financial statements

17

(142)

Total comprehensive income

146

(21)

  Including:

     Total comprehensive income attributable to owners of the parent

147

(21)

     Total comprehensive income attributable to minority shareholders

(1)

0

Earnings per share

  Basic earnings per share

0.08

0.06

  Diluted earnings per share

0.08

0.06

CONSOLIDATED CASH FLOW STATEMENT (Unaudited)                                                                                                                                                          

RMB in millions

Three months ended

Mar 31, 2024

Mar 31, 2023

CASH FLOWS FROM OPERATING ACTIVITIES

  Cash receipts from the sale of goods and the rendering of services

7,806

6,984

  Receipts of taxes and surcharges refunds

117

94

  Other cash receipts relating to operating activities

102

53

Total cash inflows from operating activities

8,025

7,131

  Cash payments for goods and services

5,176

4,385

  Cash payments to and on behalf of employees

1,192

1,194

  Payments of all types of taxes and surcharges

92

212

  Other cash payments relating to operating activities

192

106

Total cash outflows from operating activities

6,652

5,897

Net cash flows from operating activities

1,373

1,234

CASH FLOWS FROM INVESTING ACTIVITIES

  Cash receipts from returns of investments

4,250

3,930

  Cash receipts from investment income

13

14

  Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets

3

26

Total cash inflows from investing activities

4,266

3,970

  Cash payments to acquire fixed assets, intangible assets and other long-term assets

933

839

  Cash payments for investments

3,700

2,780

Total cash outflows from investing activities

4,633

3,619

Net cash flows from investing activities

(367)

351

CASH FLOWS FROM FINANCING ACTIVITIES

  Cash proceeds from investments by others

770

0

      Including: Cash receipts from capital contributions from minority shareholders of subsidiaries

765

0

  Cash receipts from borrowings

2,279

347

Total cash inflows from financing activities

3,049

347

  Cash repayments for debts

1,306

985

  Cash payments for distribution of dividends or profit and interest expenses

80

53

  Other cash payments relating to financing activities

19

33

Total cash outflows from financing activities

1,405

1,071

Net cash flows from financing activities

1,644

(724)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

2

(8)

NET INCREASE IN CASH AND CASH EQUIVALENTS

2,652

853

Add: Cash and cash equivalents at beginning of period

7,325

2,453

CASH AND CASH EQUIVALENTS AT END OF PERIOD

9,977

3,306

 

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BINGHATTI LAUNCHES ITS DEBUT PROJECT ADJACENT TO DUBAI HILLS

Published

3 hours ago

on

April 24, 2024

By

DUBAI, UAE, April 24, 2024 /PRNewswire/ — The Emirati developer Binghatti is launching a new mega development in Dubai. The landmark project Binghatti Hills is set to become the most expansive development within the community. The unveiling of this project will be held on the 29th of April followed by a four-day sales event in Four Seasons Jumeirah, Dubai.

 

 

The exquisite project will comprise a total of 1,666 residential units and 21 retail spaces. Drawing inspiration from the natural contours of terrains, Binghatti Hills seeks to capture the serene ambiance of a rolling hillside and translate it into an architectural masterpiece that embodies the spirit of tranquillity amidst the bustle of city living.

Binghatti Hills will feature private pools and lush sky gardens interwoven into the fabric of the architectural structure, providing unmatched exclusivity to its residents. It will boast a wealth of bespoke experiences within its meticulously designed amenity deck. Residents and guests alike can indulge in exclusive retreats at the private beach and find serenity amidst tranquil zen gardens. It will also offer a wide selection of playing fields for sports enthusiasts in addition to the pavilion, wellness centre and kids play area for leisure seekers.

“We are thrilled to announce the unveiling of our very first project in this community. With our vision and unmatched offerings, we are confident that Binghatti Hills will not merely attract discerning investors seeking exclusive and lucrative opportunities, but ultimately redefine Dubai’s dynamic real estate landscape. We are very excited to reveal the details of this architectural masterpiece soon.” Muhammad BinGhatti, Binghatti CEO.

The project promises unparalleled ease of access, with a strategic location in close proximity to the entrance and exit points of the community. The development will stand opposite the prestigious Dubai Hills Mall and will be in close vicinity to lavish hotels adding to its allure and prominence with the city’s vibrant landscape. With its prime setting and unparalleled lifestyle offerings, the project is set to become one of the most prestigious developments in the community.

About Binghatti Developers:
Binghatti is an award-winning real estate developer based in Dubai headed by CEO & Head of Architecture Muhammad BinGhatti. The dynamic company offers a wide array of real estate developments distinguished by its groundbreaking architectural design. It currently operates across multiple prominent districts within the emirate including Downtown, Business Bay, Dubai Silicon Oasis, Al Jaddaf, Jumeirah Village Circle, Liwan, and Dubai Land Residence Complex. Binghatti is renowned for pioneering the development of branded real estate through its collaborations with global luxury brands from various fields including Bugatti, Mercedes Benz and Jacob&Co. The company posseses bold plans for expansion in the coming years with a particular focus on augmenting its real estate portfolio in Dubai. 

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Binghatti Hills Dubai

 

Binghatti Developers Logo

 

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