Latest News
VoloFin: Revolutionizing Fintech with Comprehensive Factoring and Supply Chain Solutions
Exclusive Interview with Roshan Shah, Co-Founder and CEO of VoloFin
1. Can you tell us about VoloFin and the idea behind its launch?
VoloFin is a groundbreaking fintech platform that provides comprehensive end-to-end solutions in factoring and supply chain financing. Unlike other industry players, which are either balance sheet-driven lenders or match-making platforms, VoloFin is a multi-lender platform that includes banks among its participants. Our goal was to create a platform that supports small businesses with the trade finance they need, addressing the credit and liquidity challenges that often hinder their growth. From the outset, our vision was clear: to offer an all-encompassing platform that grants borrowers quick and easy access to trade finance while enabling banks to participate and expand their operations.
2. What are the unique services and USPs of VoloFin?
We pride ourselves on being the industry’s first complete invoice and supply chain financing platform. VoloFin offers end-to-end solutions encompassing origination, collection, and credit insurance for platform lenders. Our wide array of services for clients (suppliers) and lenders includes protection against buyer non-payment risk, collateral-free financing, and a state-of-the-art tech platform with full-stack supply chain solutions. We also ensure supplier KYC and compliance through extensive integration, global buyer underwriting, and framework-based lending models with banks. By providing these comprehensive solutions, we help small businesses overcome the significant barrier of credit access, allowing them to focus on scaling their operations and increasing production capacity.
3. How does VoloFin differentiate itself from other fintech platforms catering to SMEs?
Several factors set VoloFin apart in the market:
- Technology Platform: Our robust platform manages all critical functions, from origination and KYC to credit, operations, debt management, and insurance wrap.
- Comprehensive Solutions: VoloFin offers factoring solutions to both banks and lenders, creating a one-stop platform.
- Lending Partnerships: Our platform includes multiple lenders across APAC and the US, allowing us to offer competitive pricing, higher risk capacities, wider geographic coverage, and seamless high-value/volume transactions.
- Strong Credit Mechanism: Our experienced team has built a robust credit mechanism, fostering trust and confidence among lenders.
- Trade Credit Insurance: Our unique policy provides 100% coverage in cases of delayed payments or buyer defaults.
- Global Reach: Our partnerships enable us to serve untapped regions, including LATAM countries.
4. What challenges do SMEs face in accessing financial services, and how does VoloFin address them?
SMEs often struggle with access to credit, which hampers their growth. VoloFin offers advanced, tailored financial solutions that accelerate SME growth, especially in tier-2 cities. Our platform provides accessible and flexible financing options, enabling SMEs to focus on critical functions such as tech adoption, infrastructure development, and talent acquisition. By offering quick, non-recourse, and collateral-free financing, we assume buyer risk defaults and convert long receivables into instant liquidity, empowering small businesses to scale and increase production capacity.
5. How does VoloFin address supply-chain financing challenges?
VoloFin improves supply-chain financing transparency and efficiency through advanced technologies and analytics to assess obligors’ creditworthiness. Our user-friendly interface facilitates seamless communication among stakeholders, streamlining document sharing and approval processes. By reducing risk and accelerating financing decisions, VoloFin helps small businesses overcome roadblocks and contributes to building a robust, resilient supply-chain financing ecosystem.
6. How does VoloFin leverage technology to streamline financial processes for SMEs?
Technology is the core foundation of VoloFin. Our platform manages critical functions like origination, KYC, onboarding, credit, operations, compliance, buyer approvals, disbursement, collection, and insurance wrap, all through advanced technology. This secure and immutable ledger reduces the likelihood of fraud and uses advanced analytics to assess creditworthiness, accelerating financing decisions and mitigating risk. Our proprietary tech platform allows us to function as both a lender and a platform, paving the way for banks to partner with us and offering ready factoring solutions.
7. What is your vision for the fintech industry in the next five years?
The fintech industry is rapidly evolving, bringing banking capabilities to the non-banking and under-banked populations. Innovations like mobile wallets, digital payment gateways, and platform-based transactions are unlocking new opportunities. We anticipate the seamless integration of digital identity and wallets, enhancing security and user experiences. Generative AI will further transform banking experiences. VoloFin’s approach is relatively new in India, but growing awareness and increasing exports signal strong growth potential. The difference in product penetration between India and other regions presents a unique advantage for us and our clients.
8. What are VoloFin’s growth and future plans?
This year is crucial for us, with several milestones and announcements in the pipeline. We aim to enhance our client portfolio by onboarding globally renowned banks and plan to raise our first equity round. Our long-term objective is to expand across India and improve our offerings to better serve our clients. All strategic decisions and alliances in 2024 will be directed towards these goals.
Source: cxotoday.com
The post VoloFin: Revolutionizing Fintech with Comprehensive Factoring and Supply Chain Solutions appeared first on HIPTHER Alerts.
HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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View original content:https://www.prnewswire.co.uk/news-releases/coca-celebrates-q2-2024-with-record-breaking-milestones-and-new-launches-302216619.html
VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/stake-and-earn-with-kucoins-innovative-gempool-platform-302216471.html
Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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View original content:https://www.prnewswire.co.uk/news-releases/trust-wallet-launches-gamified-education-platform-and-loyalty-program-to-enhance-and-reward-web3-learning-302215130.html
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