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Numun Ecosystem Launches to Bring a Complete Set of Apps for Real-World Assets On-Chain

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Numun Ecosystem unveils a comprehensive suite of applications designed to tokenize and leverage real-world assets within the blockchain. Offering seamless integration and unparalleled access, Numun is set to transform how Defi users interact with everything from ETFs to stocks and bonds, on-chain, fully backed, and permissionless, all managed by the Numun Token.

DUBAI, UAE, April 17, 2024 /PRNewswire/ — The Numun Ecosystem today launches, comprising applications Num and Vectium and offering a structured approach to real-world asset (RWA) tokenization and lending on the Ethereum network.

Num, the first app of the Numun Ecosystem, is a Bermuda-based tokenization company, that specializes in tokenizing traditional finance (TradFi) assets, including ETFs, stocks, and bonds. In 2023, Num successfully closed a USD 1.5 million pre-seed funding round to work on its first MVP, emerging market stablecoins, which garnered 500,000 users within its first year. Num now aims to achieve global reach by tokenizing TradFi assets into fully backed, permissionless forms known as nTokens, bridging the gap between the TradFi and DeFi realms.

The second app in the Ecosystem is called Vectium, an innovative RWA lending protocol that harnesses the power of nTokens to facilitate financial interactions, enabling users to lend and borrow stablecoins against nTokens and soon more RWAs. This system also supports users in leveraging and hedging TradFi assets in a manner that is both permissionless and secure.

Speaking on the launch, Agustin Liserra, CEO of Num Finance, said, Numun ignites the power of synergy between transparency and innovation. Our commitment lies in steering the course of finance towards a future where accessibility, security, and empowerment are not just ideals, but everyday realities for DeFi users. As we unveil Numun to the world, we stand on the brink of a new financial era – one that we are proud to shape and lead.”

Central to orchestrating the Numun Ecosystem is the Numun Token, which employs a unique value accrual mechanism. Up to 40% of the revenue generated by the lending protocol is allocated to a buy-back-and-burn strategy for the Numun Token. The Numun token will be used across all of the apps within the ecosystem, ensuring its value is intrinsically linked to the success of Numun as a whole.

Numun Ecosystem is partnering with Impossible Finance to bring the Numun Token to the market, Calvin Chu, Co-Founder, and Core Builder of Impossible Finance, expressed excitement about partnering with Numun and supporting their mission of bridging traditional and decentralized finances. Calvin said, “Num’s and Vectium’s approach to bringing permissionless tokenized assets is the correct way to maximize interoperability. The strategy to bring a wide coverage of financial products on-chain is definitely filling a gap in the current landscape.”

Speaking on the significance of the development for the DeFi ecosystem, Alex Kruger, Advisor and Strategic Director at Num Finance, said, “The Numun ecosystem represents the culmination of our enduring commitment to reshaping the DeFi landscape. After years of meticulous work, we are introducing an on-chain ecosystem that makes real-world assets the epicenter. This is the advancement that the DeFi space has been waiting for — a transformative step in aligning the reliability of traditional assets with the innovation of decentralized finance.” 

Agustin Liserra, CEO of Num Finance, is available for interviews.

Alex Kruger, Advisor and Strategic Director at Num Finance is available for interviews. 

About Num Finance

Num Finance is a Bermuda-based technology firm at the forefront of real-world asset (RWA) tokenization. By facilitating the conversion of traditional financial assets into digital tokens, Num Finance integrates these assets with the decentralized finance (DeFi) sector. Focused on security, transparency, and accessibility, Num Finance enables broader access to financial markets and improves liquidity through innovative financial services. Committed to compliance and effective risk management, Num Finance adheres to strict regulatory standards, ensuring a trusted and stable platform for investors navigating the evolving landscape of digital finance.

For more information, visit num.finance

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UK challenger GB Bank lands £85m investment

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GB Bank, a specialist property finance bank based in Middlesbrough, UK, has secured an £85 million investment from new backer Hera Holdings and existing shareholder the Teesside Pension Fund.

Over the next 12 months, Hera Holdings is investing an initial £40 million into the bank, with an additional £40 million earmarked for investment throughout 2025 and 2026.

Meanwhile, the Teesside Pension Fund, which serves as the Local Government Pension Scheme for local authority employees in the Teesside region, is contributing an additional £5 million to the funding round.

Founded in 2017, GB Bank provides financing solutions for commercial and residential property developments in underserved areas of the UK.

The bank, which secured its full banking licence in the summer of 2022, claims to have approved “more than £80 million in loans to support over 100 property projects in locations from Northumberland to the south coast”, while also attracting “over £300 million in deposits from savers” for its fixed-term and instant access accounts.

GB Bank anticipates that the cash injection will drive “extensive growth” for the company, with plans to expand its customer base to include portfolio landlords, expatriates, and foreign nationals.

Specifically, the challenger bank states that the investment will enhance its lending capabilities, allowing it to offer funding of up to £10 million and up to 80% Loan To Value.

Moreover, GB Bank expects that the expansion will boost its capacity for commercial owner-occupier and investment mortgages as well as for its commercial and residential bridging solutions.

The bank projects that the new investment will allow it to increase its lending to £500 million over the next 12 months. As part of this growth, it intends to expand its team and infrastructure, with plans to double its current workforce this year.

Earlier this year, the company appointed industry veteran Mark Sismey-Durrant as its new chair.

Source: fintechfutures.com

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Teal secures $8M seed funding for groundbreaking accounting solution

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Teal has announced a significant milestone in its journey to transform SMB accounting with the closure of an $8 million seed funding round.

According to TechFundingNews, the company, which focuses on providing accounting infrastructure for Vertical SaaS businesses, aims to address the critical need for integrated financial solutions within various platforms.

Founded by industry veterans Ian Crosby and Adam Saint, Teal stands out in the FinTech landscape for its unique approach to accounting services. Leveraging their expertise from founding Bench Accounting and working at Shopify, Crosby and Saint have developed a platform that empowers Vertical SaaS businesses to offer customised accounting suites to their SMB customers.

One of the key challenges faced by SMBs is the lack of seamless accounting solutions integrated into their core business platforms. Teal aims to bridge this gap by equipping companies with the necessary APIs and tools to build their own accounting offerings. This enables SMBs to access crucial insights such as real-time cash flow, per-product profitability, and streamlined tax filing processes.

Teal’s comprehensive suite of out-of-the-box tools enables Vertical SaaS companies to launch their accounting platforms swiftly, often in as little as four weeks. These tools include fully functioning app code repositories and seamless data integrations with external sources like Plaid, enhancing the overall user experience for SMBs.

According to Ian Crosby, Co-Founder and CEO of Teal, the company’s vision is to become the “Stripe for accounting,” providing the foundational infrastructure for Vertical SaaS companies to embed accounting features seamlessly. By integrating accounting software directly into their platforms, businesses can enhance customer engagement and drive adoption of financial services features.

The significance of Teal’s innovative approach has not gone unnoticed in the investment landscape. Torch Capital, a leading investor in tools and platforms for SMBs, led the recent $8 million seed funding round. Partner Katie Reiner expressed enthusiasm for Teal’s mission to revolutionize the SMB accounting space, citing the dire need for intuitive and streamlined accounting tools.

In an era where embedded finance is gaining traction, Teal’s commitment to offering tailored accounting solutions signifies a promising step towards empowering SMBs with the financial tools they need to thrive in today’s competitive landscape.

Source: fintech.global

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Digital China’s Guo Wei Shares ‘China’s Sample’ of Global Digital Innovation with London Business School

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LONDON, May 22, 2024 /PRNewswire/ — On May 21st, at the invitation of London Business School (LBS), Guo Wei, Chairman of Digital China, participated in the esteemed “Managing the Digital Organization” lecture, engaging with a cohort of prospective business leaders. Focusing on the trending topics of ‘Artificial Intelligence’ and ‘Digital Transformation’, he imparted the digital philosophy and practices of Chinese enterprises amidst the digital civilization era.

Digital China, a prominent player in China’s digital economy, has harnessed over two decades of deep involvement in the nation’s information industry to embrace the power of digitization. This has culminated in what Guo Wei refers to as ‘China’s Vibrant Blueprint for Digital Transformation’, carving a distinctive path of digital metamorphosis. Notably, Digital China’s transformation narrative has been incorporated into LBS’s esteemed case library, underscoring its significance as a teaching instrument.

In his lecture, Guo Wei emphasized that the digital economy now constitutes the backbone of supply, with digital technology emerging as the paramount catalyst for economic expansion. The hastening pace of global digitization propels us into an epoch of digital civilization. For multinational corporations, digital strategies have escalated to the status of corporate strategy, and the amassing of data assets constitutes the pivotal lever for business innovation. Amidst this evolution, AI-fueled digital-cloud integration signifies a disruptive technological innovation, poised to invigorate the global landscape. Digital China feels honored to reprise its role in elite international business school case repositories, thereby contributing insights to academia. This recognition signifies that Chinese enterprises’ digital and AI acumen resonates globally, exemplifying world-class practices.

Professor Julian Birkinshaw, Vice Dean and Professor of Strategy and Entrepreneurship at LBS, remarked, “As a global institution, we constantly seek out exemplary cases worldwide. Digital China was chosen not solely due to its prominence in China but also its sophisticated implementation of digital technologies, demonstrating adaptability and offering invaluable insights to our students about the contemporary business milieu. The story of Digital China encapsulates Mr. Guo Wei’s philosophy – digitization transcends being a mere process; it embodies the existential rationale for companies. This philosophy underpins our decision to feature Digital China in our case studies.”

Photo – https://mma.prnewswire.com/media/2419014/Digital_China_s_Guo_Wei_Professor_Julian_Birkinshaw.jpg

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