Fintech
Venom Foundation becomes first crypto entity to obtain ADGM licence
Venom Foundation has been registered as the first crypto foundation in the ADGM, with a license to operate a blockchain and issuing utility tokens. ADGM is known as a fintech oasis for investors and financial services firms around the globe. The next essential step of Venom Blockchain is to be announced in the upcoming month.
Venom blockchain has an asynchronous blockchain technology of dynamical sharding, that has made an unprecedented leap in blockchain technology development globally, bringing to the market boundless scalability, and higher security guarantees with decentralization.
Venom Foundation is leading among three core directions, such as Essential Infrastructure, Support of Inbound Projects, Developer-friendly Platform, each to offer novel solutions for solving earlier existing issues on the crypto market. Though, the most valuable feature for the MENA region market is the technology that enables major corporations and companies to conduct an easy and secure transition into Web3 globalization, managing the gross data transaction flows without faltering by increasing fees and transaction times.
Venom Foundation main priority to develop and support a self-sufficient blockchain ecosystem has already yielded significant results: non-custodial Wallet (VenomWallet mobile application and Desktop Browser Extension) with a Multisig accounts option and Ledger support, VenomScan (to keep everything transparent with access to transactions history), VenomBridge (allowing the interchain transactions to be made fast, while low price), VenomPools (to stake on Validator nodes), VenomGet (an easy gateway to Venom tokens), Web3.World (native decentralized exchange) has been built. Individual developers, companies, and government authorities will be able to engage Venom Foundation to establish new products such as NFT marketplace, Derivative Exchange, fiat-backed stablecoin, and many others to come with the potential to become a bridge toward wide adoption of CBDC in the UAE, other MENA countries and Global adoption in future. Subject to the relevant regulatory approvals, Venom Foundation will work with ecosystem participants to ensure that such products are offered in complaint manner within the trusted and well- regulated environment of ADGM.”
Nowadays, MENA region entrepreneurs are considered the pioneers of the global crypto trends adoption, thus there is a vital need for companies to think of decentralized globalization of the data flows for businesses as well as governmental and social projects. Abu Dhabi Global Market (ADGM), the International Financial Center in Abu Dhabi, has previously launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges (MTF), custodians, and other intermediaries in ADGM. This follows the need to mitigate the full range of potential risks associated with crypto asset activities and shows that security is still the number one priority for the market trend itself. The Venom blockchain is an attractive project not only for visionaries, but there are also great specialists in the industry involved in its development and striving. Mustafa Kheriba, Dr. Kai-Uwe Steck, and Osman Sultan have become Foundation members and have given the project’s team full support and their unique and unparalleled expertise.
Mustafa Kheriba is known as Executive Chairman and CEO of Iceberg Capital; Executive Chairman of VENOMEX, a multilateral trading facility and a custodian of digital assets that is fully licensed by the financial regulator of the ADGM, member of the Board of Directors of Mirabank, Australian Gulf Capital, Quantum Age Corporation; and Member of the Steering Committee Pathway 20 initiative and Dr. Kai-Uwe Steck is Swiss/German attorney at law, who runs Pontinova Circle investment group. Mustafa Kheriba was named as a top 50 Mena Fund Manager two years running and is well known for creating and building value within firms. He has held key positions across organizations in the UAE, Egypt, Jordan, Bahrain, KSA, and the UK; and was a member of the Board of Directors of several locally listed entities, whereas Dr. Kai’s expertise in FinTech is backed by the network of Pontinova in Switzerland, the EU, and the UAE. Having both a live interest in the project’s future, they also believe as veterans of this field that in the nearest future this project would become among the leading blockchain platforms due to its team’s dedication to the constant updates for improvement and better usability.
Widely known across the MENA region, an influential figure and expert in the telecommunication field with 35 years of experience, DU Telecom ex-CEO, Osman Sultan has become the board adviser of the Venom Foundation. He forecasts that the industry needs to look for a blockchain platform that will be flexible enough to outreach and bridge different dimensions of the market actors through its customized service, he said – “All industries are currently going through a profound transformation, one that is enabled by the acceleration of capabilities offered by technology. The astonishing disruption induced by social networks is driven by the quest to find economically viable ecosystems. We should now focus on establishing the right platforms to allow the emergence of the new conversations needed for these ecosystems tackling the intersections between the technological, economical, and societal dimensions to make way for a more technologically efficient and humanly rewarding future during all these rapid changes.”
The Venom blockchain is claimed to become a platform that will bring novel customized approaches to the market all over the Globe.
SOURCE Abu Dhabi Global Market (ADGM)
Welcome to Blocks & Headlines, your comprehensive daily briefing on the transformative world of blockchain. Today, we explore groundbreaking partnerships, economic innovations, and blockchain-powered initiatives redefining the future.
Sony Ventures Into Blockchain With New Identity Solutions
Sony has unveiled its latest blockchain-based digital identity solution designed to enhance privacy and security in the online space. This innovative system uses decentralized technology to manage digital credentials, making identity verification seamless and secure.
Sony’s venture reflects a broader trend among tech giants exploring blockchain’s potential to reshape data privacy and authentication systems.
Source: Sony Press Release
TRON’s Daily Revenue Skyrockets 119% in 2024
TRON has reported a staggering 119% increase in daily revenue, a testament to its innovative blockchain economic models. By leveraging smart contracts and a scalable infrastructure, TRON continues to attract developers and businesses seeking cost-efficient blockchain solutions.
This growth positions TRON as a leading player in the competitive blockchain ecosystem, setting benchmarks for others to follow.
Source: Bitcoin.com
MIGMIG Partners With XT.com to Bring Blockchain Rewards
MIGMIG, a blockchain gaming and rewards platform, has partnered with XT.com to expand its reach and user engagement. This collaboration aims to deliver unique blockchain-powered rewards while enhancing the gaming experience for users worldwide.
The partnership highlights the increasing intersection of blockchain technology and entertainment, opening new avenues for user interaction.
Source: Bitcoinist
Nano Labs Supports the Inaugural Presidential Crypto Ball
Nano Labs has announced a partnership with the Inaugural Presidential Crypto Ball, emphasizing its commitment to fostering blockchain awareness. This high-profile event aims to bridge the gap between blockchain innovators and policymakers, paving the way for broader adoption.
The initiative underscores the importance of collaboration between the blockchain community and governmental bodies to shape the future of digital assets.
Source: PR Newswire
Bybit Card Partners With EnTravel for Luxury Travel Perks
Bybit has teamed up with EnTravel to offer its cardholders exclusive discounts on luxury travel experiences. This partnership integrates blockchain-powered payment solutions with high-end travel services, providing users with unparalleled convenience and value.
The move exemplifies how blockchain technology can enhance traditional industries, offering innovative solutions tailored to modern consumer needs.
Source: PR Newswire
Key Insights and Industry Trends
- Decentralized Identity: Sony’s blockchain-based solution addresses growing concerns over online security and privacy.
- Economic Innovations: TRON’s revenue surge highlights the profitability of scalable blockchain networks.
- Gaming and Blockchain: Partnerships like MIGMIG and XT.com showcase the potential of blockchain in entertainment.
- Policy and Collaboration: Nano Labs’ involvement in the Crypto Ball underscores the importance of industry-government dialogue.
- Luxury Integration: Bybit and EnTravel demonstrate blockchain’s ability to enhance traditional services.
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Fintech
Fintech Pulse: Your Daily Industry Brief (Float Financial, Alza Fintech, Thrive Capital, Stripe, Unzer, Agora Data)
Welcome to Fintech Pulse, your comprehensive daily update on the latest in financial technology. Today’s edition dives into funding rounds, leadership changes, and the evolving landscape of decentralized finance (DeFi) and fintech innovation.
Float Financial Secures $48.5 Million Series B Funding
Float Financial, a fintech startup positioned as the “Brex of Canada,” has successfully raised $48.5 million in a Series B funding round. The company aims to revolutionize financial services for small and medium-sized businesses (SMBs) across Canada, providing corporate cards and spend management solutions.
The funding will be used to expand its product offerings, invest in technology, and scale operations. With a growing demand for SMB-centric financial tools, Float is poised to challenge traditional banking systems and redefine how Canadian businesses manage their finances.
Source: TechCrunch
Alza Fintech Shuts Down Amid Industry Challenges
Alza Fintech, a promising startup backed by Thrive Capital and Stripe, has announced its closure. Known for its focus on financial inclusion for Latino communities, the company cited difficulties in scaling its operations and meeting market expectations.
This development reflects the broader challenges faced by niche fintech players in a competitive landscape. It also underscores the importance of sustainable growth strategies and robust operational frameworks in the fintech sector.
Source: Fortune
The Next Phase of DeFi: Fintechs and Exchanges Take the Lead
The decentralized finance (DeFi) space is entering a new phase, with fintech companies and exchanges taking a more active role in its evolution. Industry leaders are integrating DeFi functionalities into their platforms, making decentralized financial tools more accessible to mainstream users.
This trend highlights a shift towards a hybrid model, combining traditional financial services with decentralized technologies. Experts believe this approach could bridge the gap between conventional finance and the blockchain ecosystem, driving broader adoption of DeFi solutions.
Source: Fortune Crypto
Leadership Update: Goetz Moeller Joins Unzer as CFO
German paytech Unzer has appointed Goetz Moeller as its new Chief Financial Officer (CFO). Moeller brings extensive experience in financial management and strategic planning, having held leadership roles in prominent European financial institutions.
Unzer’s decision to strengthen its leadership team comes as the company focuses on expanding its presence in the European payments market. Moeller’s expertise is expected to drive financial discipline and support Unzer’s ambitious growth plans.
Source: Fintech Futures
Agora Data Welcomes Jeremy Beck as VP of Sales Strategy
Agora Data has named Jeremy Beck as its Vice President of Sales Strategy. With a rich background in the auto industry, Beck is set to lead Agora’s efforts to enhance its data-driven financial solutions for auto dealerships.
This strategic hire aligns with Agora’s vision to leverage big data and AI to transform auto financing. Beck’s industry expertise will play a crucial role in strengthening client relationships and driving innovation in the auto finance sector.
Source: PR Newswire
Industry Trends and Analysis
The fintech sector continues to witness rapid advancements and dynamic shifts. Key trends to watch include:
- DeFi Mainstreaming: Increased integration of decentralized finance tools into traditional platforms.
- Leadership Transitions: Strategic hires to navigate growth and market complexities.
- Niche Challenges: Survival strategies for fintechs targeting specific demographics.
- Tech-Driven Solutions: Growing emphasis on AI and big data in financial services.
- Market Expansion: Scaling operations to address regional and global opportunities.
The post Fintech Pulse: Your Daily Industry Brief (Float Financial, Alza Fintech, Thrive Capital, Stripe, Unzer, Agora Data) appeared first on News, Events, Advertising Options.
Fintech
Fintech Pulse: Your Daily Industry Brief (Orion, Envestnet, Chime, Plaid, Brex, Dave, Fincover.com)
In today’s edition of Fintech Pulse, we explore groundbreaking developments, leadership shifts, enforcement actions, and market trends that set the tone for 2025. As the fintech landscape continues its rapid evolution, these stories provide insights into the sector’s resilience and innovation.
Orion Welcomes Arun Anur as COO
Orion Advisor Solutions has announced the appointment of fintech veteran Arun Anur as Chief Operating Officer. With over two decades of experience in financial technology and operational leadership, Anur’s addition to the team is seen as a strategic move to enhance operational efficiency and scale services for financial advisors and their clients.
Anur’s extensive background includes leadership roles at firms like Envestnet and other high-profile fintech companies. He is expected to drive Orion’s growth by focusing on advanced technological solutions and client-centric strategies.
Source: Business Wire
Hiring Trends in Fintech Amid Market Volatility
Despite the challenges of a turbulent 2024, several fintech companies are actively hiring in 2025, signaling confidence in the sector’s long-term growth. Prominent names like Chime, Plaid, and Brex are expanding their teams, with a focus on engineering, compliance, and customer success roles.
Industry experts suggest that the hiring surge reflects a shift toward rebuilding trust and enhancing service delivery post-economic uncertainty. This also underscores the increasing need for robust regulatory compliance and innovative product development in a competitive market.
Source: TechCrunch
U.S. Legal Action Against Fintech App Dave
The U.S. Department of Justice has announced a civil enforcement action against fintech app Dave and its CEO, accusing them of deceptive practices that misled consumers about their overdraft services. The allegations claim that Dave misrepresented its fees and terms, potentially harming financially vulnerable users.
This case highlights the heightened scrutiny fintech companies face as regulators aim to protect consumers from predatory practices. Industry leaders are watching closely, as this could set a precedent for future enforcement actions in the sector.
Source: Reuters
Fincover.com Launches Revolutionary Fintech Marketplace
Fincover.com has unveiled a groundbreaking fintech marketplace designed to streamline access to financial services. The platform aggregates offerings from multiple providers, enabling consumers and businesses to compare and select solutions tailored to their needs.
This innovative approach aims to enhance transparency and user experience in a crowded market. With features like AI-driven recommendations and real-time updates, Fincover.com is poised to redefine how financial products are discovered and adopted.
Source: GlobeNewswire
Singapore Leads SEA Fintech Funding with $995M in 2024
Singapore solidified its position as Southeast Asia’s fintech hub by securing $995 million in funding in 2024. This impressive figure highlights the city-state’s ability to attract global investors, thanks to its robust regulatory framework and supportive ecosystem.
Key areas of investment include digital payments, blockchain solutions, and insurtech. Analysts predict that Singapore’s leadership in fintech funding will continue to drive innovation and regional growth in the coming years.
Source: Singapore Business Review
Industry Insights and Trends
As we enter 2025, the fintech industry is navigating a complex landscape shaped by economic uncertainty, regulatory changes, and technological advancements. Here are key trends to watch:
- Regulatory Scrutiny: Increased enforcement actions emphasize the importance of compliance and ethical practices.
- Talent Acquisition: Strategic hiring in critical areas like technology and compliance reflects sector resilience.
- Marketplace Innovations: Platforms like Fincover.com are transforming how financial services are accessed.
- Regional Leadership: Singapore’s dominance in Southeast Asia highlights the value of strong ecosystems.
- Consumer Protection: Cases like the one against Dave underline the need for transparency and trust.
The post Fintech Pulse: Your Daily Industry Brief (Orion, Envestnet, Chime, Plaid, Brex, Dave, Fincover.com) appeared first on News, Events, Advertising Options.
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