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LONDON, April 23, 2024 /PRNewswire/ — Tri Ri Asset Management (“TRAM”) is pleased to announce a strategic investment from its flagship venture capital fund, the TRAM Venture Fund (“TRAM VF”), in OUNO, a pioneering executive ride-hailing platform headquartered in London. This collaboration marks a significant milestone for both entities as they embark on a journey to transform the transportation industry.

Founded in 2023, OUNO rapidly gained traction in the market, attracting early investments from notable figures such as England & Manchester United’s Mason Mount, BAFTA-winning actor Michael Ward, and Grind Founder David Abramovitch, among others. In its inaugural year, OUNO demonstrated remarkable progress, earning the trust of numerous high-end brands including Prada, Hublot, and the Soho House Group. With thousands of daily B2C users in London alone, OUNO has established itself as a leader in the executive ride-hailing sector.

OUNO’s innovative feature of vehicle specificity distinguishes it in the executive ride-hailing space. Unlike other platforms that generalize vehicle options, OUNO enables users to request specific models such as Mercedes E-Class, S-Class, V-Class, or even a Tesla for those seeking a fully electric option. With over 2,500 chauffeurs already enlisted on the platform and an additional 1,500 awaiting onboarding, OUNO has become the preferred choice for drivers in London.

TRAM VF’s investment underscores its confidence in OUNO’s growth potential and commitment to innovation. With ambitious plans for expansion into the MENA region and the US, OUNO is positioned to redefine urban transportation globally. TRAM’s leadership is excited to support OUNO’s journey as it continues to lead the London market and extend its reach worldwide.

“We’re delighted to welcome TRAM to our business and successfully close our seed round,” said Bobby Drewett, Founder of OUNO. “Having TRAM as our first VC investor will strengthen our position for future funding rounds, benefiting from their wealth of knowledge and experience.”

“The strategic expansion into the Middle East is a top priority for both TRAM and OUNO,” remarked Asad Ali, Managing Partner of TRAM VF. “As I transition from public markets to private markets, I look forward to closely collaborating with Bobby and the OUNO team. As a value-add investor, I’ll utilize Tri Ri’s global network and resources to support OUNO’s growth, particularly in key markets, and help solidify its position as a market innovator in executive transportation.”

OUNO’s innovative transportation approach, coupled with TRAM VF’s strategic investment, lays the groundwork for a dynamic partnership poised to revolutionize the travel experience. Together, OUNO and TRAM VF are set to reshape urban mobility and make a lasting impact worldwide.

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Largest digital assets exchange opens spot copy trading for lead trader registrations

DUBAI, UAE, April 23, 2024 /PRNewswire/ — Binance, the leading blockchain ecosystem behind the world’s largest crypto exchange by trading volume, today announced the launch of its highly-anticipated spot copy trading strategy tool. The feature is now available for experienced users who meet minimum portfolio asset size requirements to register as lead traders, and it will be rolled out fully for all users in May 2024.

The launch of spot copy trading further increases Binance’s diverse and popular offering of automated spot strategy trading tools, which includes Spot Grid Trading, Dollar-Cost Averaging (DCA) and Rebalancing Bot. Benefits of using automated trading tools such as spot copy trading include:

• 24/7 coverage: Automated trading tools allow the user better control over how they choose to participate in the crypto market which trades 24 hours and seven days a week.
• Speed and efficiency: Once a user has set their trading strategies and parameters, automated trading tools can process vast amounts of market data and execute orders within milliseconds, beyond what the individual user can otherwise do by themselves.
• Removes emotions from decision-making: Automated trading tools help the user to avoid emotional or impulsive trading as it operates according to predetermined trading strategies and parameters.
• Diversification and risk management: With a continuously growing range of automated trading tools, users have more diversification and risk management strategy tools at their disposal.

Copy trading allows users to follow and automatically execute the same trades as those of the lead traders, enabling copy traders to leverage other users’ experiences, trading techniques and risk management strategies. Lead traders can monetize their expertise when they make their portfolio available for copy trading.

Rohit Wad, Chief Technology Officer at Binance, shared: “At Binance, we’re always listening to our users and incorporating their feedback into our products. Our users give us great ideas because, very often, they know what works best for them. Spot copy trading is one such idea that came from community feedback. This is a great tool that automates trading for our users, and gives them the ability to try new trading strategies.“

Binance first launched copy trading for its highly liquid futures products in selected regions in October 2023. In markets where both spot and futures copy trading are available, users will have even greater flexibility in how they manage their trading strategies and overall portfolio.

Users on Binance can simultaneously become lead and copy traders. Each user can have one lead trader account and copy up to ten lead trader portfolios. Lead traders receive 10 percent profit share and 10 percent trading commission rebate from copy traders who replicate their trades. Copy traders can review the lead traders’ performance metrics such as profit & loss record, and choose the ones that they want to follow while setting their own risk controls.

Binance spot copy trading benefits for lead traders include:

• Ease of Use: Simple to sign up with no lengthy registration required.
• Revenue Sharing: 10% profit share and 10% commission rebate from followers.
• Largest User Base: Millions of potential copy traders to engage with.
• Regular Payouts: Payouts are sent weekly.

Binance spot copy trading benefits for copy traders include:

• Ease of Use: User-friendly interface makes copy trading easy.
• Learning: Leverage experience of lead traders to learn about trading strategies.
• Transparent: Lead trader performance metrics are readily available.
• Highly accessible: Market-competitive fee structure makes trading accessible.

Spot copy trading is available on the Binance website now for lead traders, and will be introduced on the Binance app gradually. Binance invites lead traders to start building up their portfolios and participate in a Lead Trading Tournament that will run from April 24 to May 8, 2024.

Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. All of your margin balance may be liquidated in the event of adverse price movement. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. Trading by following and/or copying the trades of other traders involves a high level of risk, even when following and/or copying the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. Copy trading is restricted in certain countries and to certain users.  This content is not intended for users/countries to which restrictions apply. For more information, see our Terms of Use and Risk Warning.

About Binance.com

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, decentralization and infrastructure solutions, and more.

For more information, visit: https://www.binance.com 

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