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Bitget Wallet Lists Ecosystem Token BWB on Native Launchpad, Seeks to Capitalize on Market Momentum

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VICTORIA, Seychelles, May 20, 2024 /PRNewswire/ — Bitget Wallet, one of the largest multi-chain wallets, has announced that its official ecosystem token will be listed on its native launchpad from May 23, 18:00 (UTC+8). This move marks a significant milestone in Bitget Wallet’s commitment to revolutionizing the digital asset landscape and providing users with unparalleled opportunities for growth and engagement.

Users who have accumulated at least $200 worth of transactions in the month of May on Bitget Swap, the wallet’s native trading platform, will be eligible for the public round of the launchpad.

“For a project to launch its own token, careful and robust consideration of various factors have to be made,” Alvin Kan, COO of Bitget Wallet comments. “A clear understanding of a project’s unique value proposition on the market, together with a strong community to back it, are paramount requirements that need to be met before a token launch. We are satisfied that these conditions have been adequately met at this point in time, which have led us to this strategic move.”

BWB Tokenomics

Following the recent conclusion of the BWB Points campaign, the BWB token, set to launch on Solana, Ethereum, and Base chains, will be capped at a total supply of 1 billion. 47% of this total supply will be allocated to the community treasury and 10% will go to investors, while 5% will be reserved for the pre-TGE (token generation event) airdrop.

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Aside from community governance rights, BWB can also be used to cover gas fees on multiple chains, staking, and will qualify holders for future airdrops from Bitget Wallet. The token will soon make its way to the wallet’s native launchpad.

Bitget Wallet Launchpad: Democratizing DeFi

Distinguishing Bitget Wallet from other wallets by providing new and innovative ways to improve the overall user experience has been a central focus of Bitget Wallet’s development roadmap this year. By introducing a native launchpad, the wallet aims to provide an avenue for users to better discover new and upcoming projects that have been carefully vetted by the Bitget Wallet team. In doing so, not only will users be able to better capitalize on various “low risk, high return” opportunities in the DeFi space, it also empowers retail investors to follow smart money and trends in the industry.

“The democratization of investment opportunities is an important goal that we are working towards, as this allows users to participate in high-quality projects and strengthens the participation and reward mechanism of the entire ecosystem,” Alvin says.

Being one of the first wallets on Web3 to integrate a native launchpad also means that users will be able to participate in leading projects right from the convenience of their Bitget Wallet mobile application. The launch of the platform’s ecosystem token on its very own native launchpad marks a pivotal milestone in Bitget Wallet’s aims to expand its global influence and deepen customer engagement.

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About Bitget Wallet

Bitget Wallet is Asia’s largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, NFT, DApp, and token earning center. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on nearly 50 blockchains.

For more information, visit: Website | Twitter | Telegram | Discord

View original content:https://www.prnewswire.co.uk/news-releases/bitget-wallet-lists-ecosystem-token-bwb-on-native-launchpad-seeks-to-capitalize-on-market-momentum-302150050.html

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InScope secures $4.3m to revolutionise financial reporting and auditing

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InScope, a newly launched FinTech company, has successfully raised $4.3 million to expand its innovative financial reporting and auditing platform.

According to PYMNTS, the funding round included significant contributions from prominent investors such as Lightspeed and Better Tomorrow Ventures.

InScope is focused on transforming the traditional processes of financial reporting and auditing for private companies. The company leverages advanced technologies, including generative AI and large language models, to automate and streamline the compilation of financial statements—tasks that have historically been prone to errors and required extensive manual effort.

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The new capital will be used to enhance InScope’s platform capabilities. The company aims to shift accountants’ focus from laborious manual tasks to more strategic initiatives, thereby empowering finance professionals with tools to complete reporting and auditing tasks quickly and efficiently.

InScope’s system compiles data from a company’s core systems, such as ERP, along with publicly available information, and transforms these inputs into GAAP-compliant financial and audit documents.

InScope CEO and co-founder Mary Antony stated, “Our technology dramatically reduces the time and effort required for financial reporting and auditing, eliminating the need for outdated manual processes.” Her co-founder and COO, Kelsey Gootnick, also emphasized the transformative potential of InScope, which they conceived out of their own frustrations with existing financial processes.

The company has already begun collaborating with a select group of companies to refine and enhance their financial reporting capabilities. JC Bahr-de Stefano, a venture capital investor at Better Tomorrow Ventures, commented on this partnership: “InScope is already working with a handful of companies to help streamline their financial reporting needs and enable accountants to complete their reporting tasks in minutes instead of months.”

Source: fintech.global

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Citi extends USD Clearing service to Middle East in partnership with Emirates NBD

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Citi has partnered with Dubai-based banking group Emirates NBD to launch its USD Clearing service in the Middle East.

Through this collaboration, Emirates NBD will offer the USD Clearing service, along with its commercial and treasury payment execution capabilities, to corporate and retail clients via its branch networks in the UAE and Saudi Arabia. This service will enable clients to make cross-border USD payments with continuous availability, addressing current payment flow challenges posed by varying transaction cut-off times in the UAE.

“The introduction of 24/7 USD Clearing will support the growth ambitions of our clients by giving them the ability to seamlessly transfer funds in a timely manner without having to worry about cutoffs and holidays,” said Ahmed Al Qassim, group head of wholesale banking at Emirates NBD.

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Following the initial launch, the service will be extended to all Emirates NBD branches in the Middle East and globally, including partnerships with third-party institutions.

According to its website, Emirates NBD currently operates 853 branches in the UAE, Egypt, India, Turkey, Saudi Arabia, Singapore, the UK, Austria, Germany, Russia, and Bahrain.

Shahmir Khaliq, Citi’s head of services, described the collaboration as “an important step in our journey to creating a multibank solution that is designed to deliver an end-to-end, ‘always on’ experience for participant banks and their customers.”

“Our 24/7 USD Clearing service is a clear differentiator in the market,” Khaliq continued. “It demonstrates the full value of our globally leading cross-border payments and clearing capabilities, which enable our clients to make payments faster and in a more efficient and transparent manner.”

Source: fintechfutures.com

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New partnership between BIS and MAS targets climate risks in finance

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The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have recently collaborated on an innovative initiative.

The BIS, an institution dedicated to fostering international monetary and financial cooperation, and the MAS, Singapore’s central bank responsible for monetary policy, financial regulation, and supervision, have teamed up to tackle a pressing global challenge.

Their partnership aims to develop a blueprint for a climate risk platform designed to integrate regulatory and climate data. This platform will enable financial authorities worldwide to better identify, monitor, and manage climate-related risks within the financial system.

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The BIS, through its Innovation Hub Centre in Singapore, is addressing financial stability concerns posed by climate change. The MAS adds its regulatory expertise and focus on sustainable finance to the effort. Both institutions recognize the complex challenges posed by climate change, including significant data gaps and the difficulty of assessing associated risks.

Project Viridis, led by the BIS Innovation Hub, outlines the essential features and metrics of the proposed climate risk platform. This platform is designed to provide comprehensive data on financed emissions, exposure to physical risks, and forward-looking assessments under various climate scenarios. As the impact of climate change on global financial markets escalates, adaptive and innovative responses are necessary.

The partnership also leverages advanced technologies such as natural language processing to extract and analyze climate-related data from corporate disclosures. This enables a deeper understanding of financial institutions’ climate-related risks and identifies potential areas requiring more intensive risk assessment.

Maha El Dimachki, head of the BIS Innovation Hub Singapore Centre, stated, “Project Viridis demonstrates how regulatory data can be integrated with climate data, extracted from corporate disclosure documents using natural language processing techniques. This provides authorities with insights into climate-related financial risks, helping them form an initial view of financial institutions’ risk exposures and identify areas that may require deeper risk assessment.”

Source: fintech.global

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