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Blockchain Secure Payment and Settlement Conference (London, United Kingdom – April 23, 2020)

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Dublin, Jan. 22, 2020 (GLOBE NEWSWIRE) — The “Blockchain: Secure Payment and Settlement” conference has been added to ResearchAndMarkets.com’s offering.

Blockchain (or Distributed Ledger Technology – DLT) has captured the attention of many in the financial sector and recently more of those active in payment, clearing and settlement, mainly because of its promise of efficiency and resilience.

Central banks and other authorities are reviewing and analysing the use of this technology for payment, clearing and settlement. Practitioners and thought leaders at this conference help to understand the uses of DLT and, in doing so, identify both the opportunities and challenges associated with this technology in the context of many B2B, B2C, C2C and C2B settlements.

Although DLT bears promise, there is still a long way to go before that promise is fully realised. Much work is needed to ensure that the legal underpinnings of DLT arrangements are sound.

Benefits:

  • Speed of end-to-end processing
  • Cost of processing
  • Speed and transparency in transactions
  • Efficiency gains from automated instant and paperless contract tools.

Uncertainties still to be refined and resolved:

  • Operational and security risk
  • Settlement issues
  • Legal risk
  • Governance
  • Data management and protection
  • Potential broader financial market implications.

Agenda:

  • Blockchain & Payments – How Can Blockchain Revolutionise Payments And Transactions For Businesses, Governments And Individuals?
  • The Future Of Financial Contracts
  • Economics Of Cryptocurrencies And The Monetary Implications Of Central Bank Or Private Issued Digital Currencies For
  • States, Investors, Individuals, And Businesses
  • Panel: Benefits And Uncertainties:
  • Leveraging Blockchain And Digital Assets To Transform Global Payments
  • Presentation From Real Security – Blockchain – Vault. Member Of BAE

Speakers

  • Peter Oakes, Board Director / Founder – Fintech Ireland
  • Athanasios T. Ladopoulos, CIO/Founder – Lapo Blockchain/ MOOCTORS
  • Aaron Greatbanks, Investment Actuary and UK Blockchain Community of Interest Leader – PwC
  • Marjan Delatinne, Global Head of Banking – Ripple

For more information about this conference visit https://www.researchandmarkets.com/r/zetjpy

About ResearchAndMarkets.com
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Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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WISeKey Reports Full Year 2019 Preliminary, Unaudited Revenue of $24.5 Million and Achieves Profitability

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WISeKey Reports Full Year 2019 Preliminary, Unaudited Revenue of $24.5 Million and Achieves Profitability

 

ZUG, Switzerland – January 21, 2020 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company, announced today its preliminary, unaudited results for full year ended December 31, 2019.

All 2019 figures in this release are unaudited and estimated due to the preliminary nature of the announcement. WISeKey plans to issue its full year 2019 audited results before March 31, 2020 and conduct a conference call (details will be announced at a later date).

For full year 2019, WISeKey expects its revenue to be approximately $24.5 million. This compares to full year 2018 revenue of $53.7 million, which included revenue from the SSL/TLS PKI business segment sold to DigiCert in January 2019 for $45 million.  Excluding SSL/TLS PKI revenues for both reporting periods, WISeKey’s expected full year 2019 revenue of approximately $22.7 million decreased from full year 2018 revenue of $34.3 million due internal restructuring efforts to transform the Company into an Identity Management/IoT/Blockchain service provider.  Additionally, WISeKey expects to report net income for full year 2019, due to the $31.1 million gain generated from the sale of the SSL/TLS PKI business.

Carlos Moreira, WISeKey’s Founder and Chief Executive Officer noted, “2019 was a transformational year for WISeKey.  Following the sale of the SSL/TLS PKI business, WISeKey has become a vertically integrated Identity Management/IoT/Blockchain service provider with a unique trust model. While Blockchain is an emerging technology still in its infancy, and many technology providers are struggling to create a winning Blockchain solution, WISeKey with its unique trust model is already generating substantial revenue from this segment.  As Blockchain technology matures and demand for IoT security continues to gradually accelerate, we expect our revenue from this segment to increase and profitability to improve.

“In 2019, we experienced increased demand for our products (hardware and software) and services from existing and new/potential clients, while the release of new proprietary solutions with strong cybersecurity offerings, accelerated new customer acquisitions and increased our geographic footprint.  Additionally, we further enhanced our position in the Identity Management/IoT/Blockchain segment through the establishment of several partnerships with leading players in the space. As we continue to execute our growth strategy, I am confident that we have the talent, vision and experience to continue gaining market share in 2020 and beyond.”

Strong cash position supports growth initiatives
Cash and cash equivalents together with restricted cash increased to $16.6 million at December 31, 2019, from $9.8 million at December 31, 2018.

In January 2019, we received net cash proceeds of $35.8 million (total sale price of $45 million) from the sale of our SSL/TLS PKI business. WISeKey used the cash proceeds to repay in full the Line of Credit with ExWorks Capital Fund I, L.P. in the amount of $25.3 million. This substantially improved the Company’s financial position and paved the way for significant investments in growth initiatives. 

Growth Strategy
WISeKey expects the deployment of its new product NanoSEAL®, the continued traction of several other new blockchain and IoT products released in 2019, and further expansion of its operations in the U.S., China and Saudi Arabia to provide new revenue streams in 2020 and 2021.

WISeKey’s growth strategy also includes the implementation of the Ines and Foresight Platform which is designed to seamlessly integrate WISeKey’s technologies into an Internet of Objects platform.  The Ines and Foresight Platform is being used by  smart car manufacturers, dealers and suppliers to validate the authenticity of different vehicle components, protect onboard communication between vehicle components, access car components to securely provide over-the-air software updates and diagnose mechanical/technical issues from any location.  

2019 Business Highlights – new products and new markets

  • Strengthened the Company’s investment in IoT security with the release of NanoSeal®.
  • Expanded its partnership with Microsoft Corporation:  all members of the Cybersecurity TechAccord are expanding their partnership on initiatives that improve the security, stability and resilience of cyberspace.
  • Announced partnership with Oracle:  WISeKey Blockchain Identity technology became one of Oracle’s first external trusted identity providers, allowing clients to securely add data onto the Oracle Blockchain Platform using the WISeKey cryptographic key infrastructure.
  • Reinforced its penetration in the Chinese technology market: WISeKey’s Root of Trust was accredited by 360 Security Browser to provide Trusted SSL Services in China.  360 Security Browser is the leading internet browser solution in China, with an estimated user base superior to 400 million active users and a market penetration close to 70%, according to CNZZ.
  • Joined forces with OpSec Security IoT leader on Brand Protection and Authentication of IoT EcoSystems.
  • WISeKey Blockchain Centers of Excellence: WISeKey in cooperation with the Blockchain Research Institute (BRI) is creating a number of interconnected Blockchain Centers of Excellence around the world, to facilitate the rapid adaptation and on-boarding of blockchain-based solutions and foster stronger collaboration between the public, private and academic sectors. Each center purchases technologies and licenses from WISeKey.
  • New agreements for the smart car, pharmaceutical and fintech industries, and consumer products which, in the aggregate, are broadening the ecosystem of WISeKey’s IoT chips.
  • Continued investments in IoT Security, with strong industry-specific partnerships.
  • Expansion of patent portfolio with new IP and patents with the aggregation of 39 IoT / Semiconductors patent families (more than 200 patents in total) to its portfolio (https://www.wisekey.com/patents/).
  • WISeKey’s comprehensive partnership with Long State Investment Limited (LSI), a leading Asian based investor, to expand the reach of WISeKey in the growing Asian markets and to become one of the leading providers of semiconductors, IoT and Blockchain services in the region. Under the arrangement, WISeKey and LSI plan to establish a Joint Venture in Hong Kong in the first quarter of 2020 to focus on business opportunities in Asia with financed by a $30 million facility provided by LSI during a 24-month period.
  • WISeKey Semiconductors Secure Element for Sigfox-enabled connected devices certified by Sigfox.
  • WISeKey listed its ADRs on the NASDAQ https://www.nasdaq.com/market-activity/stocks/wkey). 

About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.).  WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.

Press and investor contacts:

WISeKey International Holding Ltd 
Company Contact:  Dourgam Kummer
Head of M&A
Tel: +41 22 594 3000
info@wisekey.com
WISeKey Investor Relations (US) 
Contact:  Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
lcati@equityny.com

Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

Non-GAAP to GAAP Reconciliations

  12 months ended December 31, 2018
Consolidated Statement of Income / (Loss)   Non-GAAP adjusting entries  
USD’000 Non-GAAP Reclassification of discontinued operations US GAAP
       
Net sales 53,692 (19,412) 34,280

Non-GAAP Financial Measures

On December 21, 2018, WISeKey signed a sale and purchase agreement (the “SPA”) to sell QuoVadis SSL and PKI businesses to Digicert Inc (the QuoVadis Group).  While the sale was completed in the first quarter of 2019, WISeKey assessed the SPA under ASC 205 and concluded that the operation met the requirement to be classified as held for sale (at December 31, 2018) and as such qualified as discontinued operations. This led to the results and assets and liabilities of the QuoVadis Group to be presented separately in the consolidated income statement and consolidated balance sheet.  However, WISeKey management reviewed 2018 financials on a consolidated basis, including discontinued operations results.

In managing WISeKey’s business on a consolidated basis, WISeKey management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting WISeKey’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses related to acquisitions and share-based compensation expense, which may obscure trends in WISeKey’s underlying performance.  This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.

These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in WISeKey’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual.  Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).”

Chamber of Digital Commerce to File Amicus Brief Advocating for a Predictable Legal Environment for the Blockchain Industry

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WASHINGTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — Today, the Chamber of Digital Commerce submitted a motion for leave to file an amicus curiae brief in the SEC v. Telegram case currently pending in the Southern District of New York.  The Chamber is contributing to this case to be a true “friend of the court” and provide a legal framework based on settled SEC jurisprudence to create a predictable legal environment for the blockchain industry.  In submitting this brief, the Chamber does not take a view on whether the offer and sale of Grams is a securities transaction. 

The key determination that the Chamber seeks is to distinguish between the subject of an investment contract (the digital asset) with the securities transaction associated with it. This requires two separate analyses: (i) whether there is an investment contract, offered as a securities transaction; and (ii) whether the subject of an investment contract is a commodity that can be sold in an ordinary commercial transaction. The Chamber further seeks confirmation that a digital asset is not a security solely by virtue of being in digital form or recorded in a blockchain database. Uncertainty as to how the federal securities laws apply to digital assets is stifling economic development in the United States. This technology neutral principle remains consistent with the law established by the Howey case and its progeny.

The Chamber is represented by Lilya Tessler, Partner and New York head of Sidley Austin LLP’s Blockchain and FinTech group. The amicus brief includes feedback from numerous contributors from the Chamber’s blockchain industry membership.

“An extraordinary amount of work went into developing this brief on behalf of the blockchain and digital asset industry. We greatly appreciate the thoughtful analysis that Lilya Tessler and her team provided, as well as the countless hours of contributions from many of our members,” said Perianne Boring, Founder and President, Chamber of Digital Commerce.  

“The Court has an important opportunity to establish binding precedent in helping practitioners better discern when the securities laws apply to digital assets and when they do not under the Howey framework,” added Amy Kim, Chief Policy Officer of the Chamber of Digital Commerce. 

“We are delighted to represent the Chamber as amicus curiae in this pivotal case, which hinges on the Court’s application of the correct analytical framework to digital assets,” said Lilya Tessler of Sidley Austin LLP “The decision in this case will have far reaching implications for blockchain market participants, including investors, trading platforms, and technology companies that seek to facilitate both securities and commercial transactions in digital assets.” 

The Court scheduled a hearing in the SEC v. Telegram case for February 18 and 19 to consider the SEC’s request for a preliminary injunction preventing the delivery of Grams to purchasers. Each party has filed motions for summary judgement that focus their arguments on whether Grams are securities based on the facts in the case, while the Chamber’s proposed brief sets forth the applicable legal standard and implications of the Court’s decision in setting a precedent for the entire industry.

About the Chamber of Digital Commerce
Headquartered in Washington, D.C., the Chamber of Digital Commerce is the world’s first and largest trade association representing the digital asset and blockchain industry. For more information, please visit DigitalChamber.org, and follow us on Twitter @DigitalChamber.

Marie Knowles
marie@digitalchamber.org

Horizon CEO Brian Collins to Speak at EmTech Investment Meeting 2020 in Davos During World Economic Forum

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New York, NY, Jan. 21, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Horizon Globex US, LLC (Horizon), the Blockchain-as-a-Service solutions company, today announced its CEO Brian Collins will be speaking at the Emerging Technologies Investment Meeting (EmTech Investment Meeting 2020), a forum for professional investors and traders who are interested in impact investments and emerging technologies. The event takes place January 20-22nd in Davos, Switzerland during the World Economic Forum. Brian will be hosting a Fireside Chat called The Hunt for Liquidity: Digital Assets 2020, providing his expertise on the challenges and opportunities surrounding digital asset liquidity in the coming year alongside merchant banker and PALcapital CEO, James Haft. 

The EmTech Investment Meeting 2020 discusses investment opportunities in technologies such as Clean Energy, Blockchain, FinTech, AI, Healthcare, Biotech, and more. The meeting includes prominent investment funds and family offices like i(x) Investments, IMAS Foundation, Private Equity & Infrastructure, MN (AUM 160bn), Willis Towers Watson, SUSI Partners AG and other institutional investors. Additional speakers include Ciara Sun, Head of Global Business at Huobi Group; Rupertus Rothenhaeuser, Chief Clients & Products Officer at SIX Digital Exchange; Lennix Lai, Financial Market Director at OKEx; and the Schaffhausen Institute of Technology. 

Brian is an experienced public and private company CEO. He founded Horizon Globex in 2010, which was listed on Nasdaq in 2012. The Company’s end-to-end blockchain technology suite was completed in 2019 and its compliance and trading technology is being licensed to entities around the world. From 1999-2010, Brian was CEO of Abbey Technology in Switzerland specializing in the design of trading software for Swiss banks. Prior to this, Brian worked for Credit Suisse in Zürich designing and building proprietary equity trading solutions.  

“Attracting mainstream traders to a digital-asset secondary marketplace requires frictionless on-boarding and trading,” says Horizon CEO Brian Collins. “I’m honored to share insights on what’s to come surrounding digital asset liquidity in 2020 and help shed light on the tools and regulatory framework in place to usher in this new wave of investing and trading.” 

This news follows Horizon’s recently launched Series A funding round which is currently accepting investments. Qualified investors can become shareholders in Horizon’s proprietary blockchain trading and compliance software business being licensed to entities around the globe. To learn more and to access Horizon’s investment materials, visit https://offering.horizon-globex.com/

To learn more or connect with Brian Collins, visit his LinkedIn or reach the team at horizon@horizon-globex.com. 

About Horizon:   

Horizon offers a suite of integrated blockchain software applications for compliant issuance through secondary trading of digital securities. Truly a compliance-first business, our solutions combine Wall Street and Silicon Valley to power the next generation of exchanges and securities offerings in the U.S. and globally.    

Current product solutions include asset tokenization through Tokenetics (tokenetics.com); a white-label KYC smartphone app to onboard and verify investors through KYCware (kycware.com); anti-money laundering screening against a database of global sanctions, watchlists, & PEPs through AMLcop (amlcop.com); transfer agent custody tools through (custodyware.com), and an advanced retail trading app for compliant secondary trading on affiliated digital securities marketplaces through Open Order Book (openorderbook.com). All software applications can be utilized independently or integrated with one another. Learn more at https://horizon-globex.com/.  

Press Contact: 

Vanessa Malone

Vanessa@Horizon-Globex.com  

(805) 637-1963 

Disclaimers:  

This press release may include ”forward-looking statements.” To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the offering statement that we will file with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and GlobexUS Holdings Corp. does not undertake any duty to update any forward-looking statements except as may be required by law.  

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION WHERE SUCH OFFER OR SOLICITATION IS NOT PERMITTED. 

Phoenix Finance receives Most Innovative Fintech E-Wealth Management Platform award at The Wealth APAC forum

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The Wealth APAC forum – IPWM & IFWM China Awards 2019 were hosted in Shanghai by WEALTH Magazine on December 18, 2019. The forum brought together 100 well-known experts from the Asian Pacific wealth management community and executives from top financial institutions in the region who engaged in in-depth research and discussions on the current status and developments of the Asian Pacific wealth management market. At the forum, Phoenix Finance won the Most Innovative Fintech E-Wealth Management Platform award, a recognition under the 2019 Best Financial Technology Innovation Award for its outstanding performance in the field of wealth management.

The winners of the Wealth APAC awards are selected using the strictest criteria during a six-month selection process based on a comprehensive array of metrics, including abilities at innovation in technology, platform services and brand value. The Awards are designed to recognize outstanding wealth management teams and services in the Asia Pacific region, raise the awareness of wealth management in the region and promote the prosperity of the wealth management market.

Phoenix Finance, founded in 2014, is a comprehensive intelligent financial service platform owned by Phoenix TV Groupserving Chinese globally. This is the second time that Phoenix Finance has won an award in the category of wealth management technology services in 2019 following the garnering of the 2019 Annual China Digital Wealth Management Service of the Year in China award from The Asian Banker at the Wealth and Society Summit 2019 which recently concluded. Both awards represent a recognition of Phoenix Finance’s technology competence and intelligent wealth management services among both industry players and users.

Based on an internet-oriented online marketing and service model, Phoenix finance’s wealth management business provides users with personalized and customized services while enhancing the quality of services by combining online smart financial tools with offline professional services.

After five years of development, Phoenix Finance has now built a comprehensive technology network, including a proprietary technology system, a big data platform, and an intelligent system that supports the front, middle and back office operations of financial services. Notably, the company has developed a wide range of world-leading products, including a fully automated transaction and capital depository system developed in-house, intelligent asset allocation tools, an intelligent marketing and user management system, and an intelligent finance information analysis engine, laying a solid foundation for the creation of online wealth management services.

Phoenix Finance has successfully developed a range of internet-based intelligent wealth management services. Citing a few examples, “Phoenix Accurate”, an wealth management tool developed in-house by Phoenix Finance, provides users with personalized, cost-effective reliable and intelligent wealth management services, in addition to multiple advantages in innovation, among them, a wealth diagnosis system, an asset portfolio with lower risks, as well as asset diversification and customization. Phoenix Finance’s smart fund strategy product, Mojing Zhitou, which roughly translates as “Magic Mirror Robo-advisor”, has helped create fully automated trading strategy products with various public funds serving as investment portfolios or funds of funds (FOF) by combining the traditional investment rules in the secondary market with the latest AI and big data technologies. In addition, the company’s intelligent news analysis engine, Fengming Intelligent Information, makes the investment logic easy to understand for users by conducting in-depth analysis and extensive correlation of massive complex financial information through a number of technical means, including big data, text mining, AI and quantitative analysis.

Phoenix Finance has established a full lifecycle value management system based on a longstanding demand for wealth management, in a move to deepen its relationship with consumers, improve its user value management system, pay attention to long-term wealth planning based on user lifecycle, recommend appropriate wealth management solutions based on different user attributes, and meet consumer needs at different stages in their investment lifecycle with a variety of products and solutions.

Leveraging the internet, big data and AI, Phoenix Finance has created a comprehensive online wealth management structure, providing consumers with diversified, professional and customized wealth management services. The garnering of the Most Innovative Fintech E-Wealth Management Platform award at the Wealth APAC forum represents a recognition of Phoenix Finance’s dedication to the financial technology sector over the past five years, providing users with convenient online wealth management services. Phoenix Finance is expected to integrate finance with technology more closely in the firm’s next stage of development, leading wealth management as it embarks on a new journey.

 

SOURCE Phoenix Finance

WORBLI, the Compliance Driven Public Blockchain, to Enter APA with AmaZix Capital

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WORBLI is pleased to announce that the WORBLI Foundation (“Foundation”) has entered into an Asset Purchase Agreement (the “APA”) concerning the proposed acquisition of 100%  of its assets by AmaZix Capital Limited (“AmaZix Capital”) and 0rigin Ventures (“0rigin”) in return for ongoing funding and development capital.

The acquisition will be completed upon satisfaction of conditions precedents. The transaction will allow WORBLI to accelerate the deployment of its proprietary Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) offering to the FinTech and Digital Asset sectors, concurrently with the commercialisation of the tokenised security technology native to the WORBLI blockchain.

Transaction Highlights

  • The transaction encompasses 100% of WORBLI’s assets including 10% of WORBLI Utility tokens (“WBI”) in circulation which will be subject to a lock-up period spanning 6 years
  • The transaction will secure funding and resources for the WORBLI Foundation to uphold administrative and customer support for the blockchain and for the promotion of WORBLI’s institutional product offering
  • This expanded and accelerated roll out of WORBLI technology will allow for faster commercial adoption of the chain

 

SOURCE WORBLI

AllocateRite’s AI-Powered Autonomous Wealth Management Strategies Are Now Available Via iOS and Android Mobile Apps

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AllocateRite, the New York FinTech and data science company that provides wealth managers with ETF-based dynamic asset allocation strategies and risk analytics, is excited to announce that its proprietary portfolio management and asset allocation strategies are now available to iOS and Android mobile devices via our mobile app.

AllocateRite’s AI-powered strategies use sophisticated portfolio construction and risk management techniques to offer superior risk-adjusted returns over time.

Additionally, our strategies are highly diversified and liquid, utilizing benchmark ETFs that represent the most liquid sectors of the stock market. Until now, these strategies were previously available only to institutional clients.

Using our mobile app, you can easily link your brokerage account to use one of our strategies. Also, you have the flexibility to allocate either a partial amount or the entire amount of your account to our strategies while maintaining full custody and control of your account at your brokerage firm.

Our strategies are suitable for retirement accounts, as they are focused on capital preservation, capital appreciation and income, enabling you to reduce your management fees by having your money flow out of pricey mutual funds into low cost ETFs.

AllocateRite’s strategies are automatically rebalanced monthly to maintain an optimal risk / reward ratio. Furthermore, they are GIPS-verified and have a confirmed track record of success stretching back four years.

 

SOURCE AllocateRite, LLC

TONIK Selects Finastra’s Core Banking Solution to Power Southeast Asia’s First Pure-play Licensed Digital Bank

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Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines, giving it agility and the ability to scale quickly.

Greg Krasnov, Founder & CEO at TONIK, said, “The banking sector in the Philippines is ripe for digital disruption. The country has high internet usage, the majority of Filipinos are unbanked and research shows half of the people who do have bank accounts would be interested in switching to a neobank.

“We want to create a hyper-compelling consumer proposition that will revolutionize the way money works in the region. Finastra’s Fusion Essence Cloud – powered by Microsoft Azure – will give us the agility to get these services to market quickly and efficiently. We are also impressed by the modern, open and scalable capabilities of the solution, particularly the in-built analytics, which will help us to better understand our customers’ smart digital banking needs.”

The key proposition for digital banks is providing a customer experience that traditional banks struggle to offer. This requires modern, cloud-native technology that facilitates innovation whilst future-proofing investment. For TONIK, Fusion Essence Cloud will be deployed out of the Microsoft Azure Southeast Asia Region (Singapore Data Center), which will allow for both low latency and data residency. TONIK will benefit from a low cost of entry into the market, ease and speed of deployment, and the ability to increase business volumes and diversify its product set cost-effectively. It will also benefit from ongoing software updates and, in time, access to further innovation via FusionFabric.cloud, Finastra’s platform for open innovation and the development of applications.

European neobanks, including revverbank and Gravity, are already being powered by Fusion Essence Cloud, and this deployment in Southeast Asia will help bring the benefits of innovative digital banking to the Philippines.

Anand Subbaraman, General Manager, Retail Banking at Finastra, said, “TONIK is well positioned to replicate the disruption that has taken place in Europe, where digital banks have quickly attracted millions of customers and billions of dollars in investor funding. Using digital technologies and a lower-cost operating model, TONIK will be able to offer customers the products and services they need, delivered in a convenient way, as well as increasing opportunities for financial inclusion in Asia. Fusion Essence Cloud is ideally suited to help TONIK achieve these goals, as well as see a fast return on its investment. We are extremely proud to be TONIK’s partner in bringing digital banking to the Philippines for the first time.”

 

SOURCE Finastra

Telepin Selected to Power Economic Development and Humanitarian Initiative in Yemen

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Yemen’s National Wallet Company seeks Canadian fin-tech’s help to launch financial inclusion project.

Yemen is facing the world’s worst humanitarian crisis, according to the United Nations.

For the 24 million people displaced by escalating hostilities, access to humanitarian aid is their only protection against deadly famine. Telepin and ONE, the go-to-market brand by the National Wallet Company (NWC), hope to improve that access and give Yemenis more control over their daily lives.

ONE will soon launch the country’s first mobile money platform, designed to provide cashless e-wallet services to the Yemeni population. In a country where more than 90 percent of the population don’t have a bank account, this platform will give users an alternative to the instability of cash. The GSMA notes the potential impacts of such an initiative in a 2017 report, which explains how mobile money deployments “support financial inclusion, help to build resilience, and most importantly, can better serve displaced populations worldwide.”

The platform, developed by ONE and Telepin, will allow customers to load and withdraw cash, send money to their friends and family, receive salaries, pay bills and most importantly transact with local merchants — all through an innovative platform accessible on both basic mobile devices or smartphones without the need for internet access. The platform’s key partners are Yemen’s largest private companies, who have committed their network of more than 100,000 direct and indirect retailers and distributors in Yemen to support this initiative. Yemen’s 11 major banks also support the initiative and will ensure the widest possible reach across the country, even amongst the most remote communities. This aims to support the financial needs of millions of Yemenis suffering the consequences of this crisis.

As ONE’s CMO Mohamed Hayel Saeed explains, “Working with domestic and international partners, ONE will help bring Yemen’s economy into the 21st century by delivering sustainable, long-term positive outcomes for today’s Yemeni population and for generations to come. We have been working to create an innovative solution to give Yemenis back control over their daily financial activities and to secure their future. We want to reach the last mile and broaden access to financial services to as many of Yemen’s 20 million ‘unbanked’ people as possible.”

Telepin CEO Vincent Kadar is equally optimistic. “The National Wallet Company has built a robust plan to give families reliable financial options in an unreliable world,” he says. “With their vast merchant network and Telepin’s experience developing complex and customized integrations, we’re well on our way towards launching a tool that will have a meaningful and immediate impact on the lives of its users.”

ONE and Telepin expect the mobile e-wallet platform to launch in 2020.

 

SOURCE Telepin Software

Overstock.com Welcomes 2020 with Emphasis on Customer Focus and Innovation

0

SALT LAKE CITY, Jan. 16, 2020 (GLOBE NEWSWIRE) — Celebrating 20 years as a leader in the e-commerce space, Overstock.com, Inc. (NASDAQ:OSTK) looks forward to an exciting 2020, with a renewed customer focus, application of technological innovations and changes in leadership. As a technology-focused company, Overstock continues to be an industry-leading online retailer and a pioneer in the blockchain space. Through its Overstock.com retail and Medici Ventures blockchain divisions, the Company continues to execute on its mission of improving customers’ lives through the application of emerging technologies to traditional markets. Overstock is focused on improving the customer experience and enabling secure and trusted peer-to-peer commerce. 

“Two decades ago, Overstock was founded with a vision to always improve the way people transact through the innovative application of technology,” said Jonathan Johnson, CEO of Overstock.com, Inc. and president of Medici Ventures. “Two decades later that same forward-thinking attitude continues to prevail. Our teams of talented technologists with innovative minds continue to improve our customers’ experience. And they are advancing global peer-to-peer commerce through the application of blockchain technology. Over the past 20 years, we accomplished a lot. I’m filled with pride by our teams’ work in sourcing, developing, and accelerating technology and efficiencies in our retail and blockchain businesses. We’re focused on making 2020 another great year for Overstock.”

Overstock welcomed changes in leadership during 2019, which reflect its focus on the customer and innovation. These changes included the promotions of Jonathan Johnson to CEO of Overstock.com, Inc. (in addition to his role as President of Medici Ventures), Dave Nielsen to President of Overstock Retail, and Kamelia Aryafar to Executive Vice President and the newest member of the Company’s board of directors (in addition to her role as Chief Algorithms Officer). Medici Ventures also strengthened its leadership, with the promotions of Joel Weight to Chief Operations Officer and Jeremy Smith to Chief Technology Officer. Likewise, tZERO strengthened its team with the addition of a Head of Issuance, Head of Investor Relations, and Head of Communications.

In addition to its offices in Utah, the Company expanded its presence in Europe with the opening of a new state-of-the-art campus in Sligo, Ireland, which has served as a technical hub and EU base.

Club O, the Company’s retail loyalty and rewards program, expanded its member offerings to include two new benefits: free returns and a price match guarantee. These new features significantly enhance the loyalty program’s existing perks, which include free shipping on all items, five percent (or more) rewards on all purchases, access to an exclusive rewards store, and additional rewards in exchange for product reviews. Club O is free to active and veteran military members, students and teachers, and first responders.

Other key milestones over the past year include the addition of new applications in the blockchain space; advances in the customer experience utilizing technologies like machine learning, personalization, and augmented reality; and continued community outreach through partnerships with non-profit organizations.

Medici Ventures, Overstock.com, Inc. Subsidiary and Blockchain Accelerator

2019 was a significant year for Medici Ventures and its keiretsu of blockchain-based companies, as it began to pivot from a building phase to a growth phase in which real products are coming into production. The Medici family continued to utilize blockchain technology to revolutionize traditional industries including identity, land governance, money and banking, capital markets, supply chain, and voting.  Key milestones include the following:

  • tZERO, the global leader in blockchain innovation for capital markets, built the technology and leadership team necessary to support its long-term efforts relating to tokenization services and secondary trading technology. In addition to securing a number of cutting-edge patents related to the intersection of blockchain and capital markets, the company tokenized its preferred equity and launched the trading of these securities on the tZERO ATS, signed agreements with a number of issuers to tokenize their securities, subscribed additional broker-dealers to the tZERO ATS, launched the tZERO Crypto App, filed for one of its wholly-owned subsidiaries to become a retail broker-dealer and advanced its Boston Security Token Exchange (BSTX) joint venture.
     
  • Medici Land Governance (MLG) continued to expand its reach and provide low cost, user friendly land titling and administration systems to government partners across the globe. In 2019, MLG expanded its land governance efforts to St. Kitts and Nevis, Liberia,  Zambia, Mexico, and the United States. By utilizing blockchain and other technologies to secure a public record of land ownership, MLG continues to promote economic development and financial inclusion to both individuals and governments worldwide. MLG looks forward to strengthening and creating new partnerships in 2020 and beyond.
     
  • Bitt, the Barbados-based fintech company, signed a contract with the Eastern Caribbean Central Bank to conduct a blockchain-issued Central Bank Digital Currency (CBDC) pilot within the Eastern Caribbean Currency Union (ECCU) The issuance of a CBDC would facilitate the speed, cost and efficiency of payments, both domestically and cross-border, as well as promote financial inclusion amongst Caribbean citizens. Having successfully completed the project’s inception and elaboration phases, upcoming milestones include preliminary testing and training with pilot project stakeholders, including financial institutions, merchants and consumers, in preparation for the start of the pilot at the end of Q1 2020.
     
  • Voatz made voting safer and more accessible by successfully conducting a number of secure mobile voting pilots backed by blockchain technology for overseas and disabled voters in United States counties such as Utah County, UT; the City & County of Denver, CO; Jackson and Umatilla County, OR; and Pierce County, WA.
     
  • GrainChain executed agreements with stakeholders across the Honduran coffee industry to deliver its blockchain-enabled commerce platform. Immediate benefits with regard to the minimization of risk and improvement of harvesting conditions have already been realized, both of which will encourage further reinvestment. Through coordination with stakeholders throughout the coffee growing lifecycle, GrainChain is for the first time connecting the entire supply chain on a single platform. That agreement came in the same year as the company’s partnership with the Mexican state of Tamaulipas, bringing efficiency, security, and transparency to farmers, storage operators, and buyers of bulk commodities. GrainChain went live with three products: Cmodity, HarvX, and SiloSys, which processed over 1 billion pounds in commodities in Texas in 2019, a strong indicator of what is to come in 2020.

Overstock.com Retail

Under the leadership of the Company’s EVP and Chief Algorithms Officer, Kamelia Aryafar, Overstock continues to implement artificial intelligence (AI) and machine learning (ML) technologies throughout the organization. These technologies are being applied to improve or replace existing systems in all areas of the company, including Website Development, Pricing, Customer Care, Supply Chain, Marketing and Sourcing.

The application of ML and AI has also allowed Overstock to significantly improve the personalization of the customer experience, advancing Overstock’s mission of customer focus. During 2019, Overstock leveraged its proprietary technology LiveRex and Overstock Asset Data Platform (OADP) to introduce personalization technology to its retail site, which enabled a fully dynamic email experience. These initiatives aim to deliver a more engaging and relevant experience throughout every touchpoint of a customer’s journey.

Building on Overstock’s investment over the past three years in augmented reality (AR) and 3D experience, the Company launched the biggest omni-channel AR and 3D customer experience in e-commerce. This launch allowed shoppers to seamlessly view true-to-life size 3D renderings of thousands of products from top-selling categories like furniture, home goods, and décor, and enabled them to see what these products might look like in their own homes with the aid of AR.

Overstock celebrated its 20 year anniversary with its second annual Customer Day on October 6. The 36-hour sale was one of the Company’s strongest events in 2019.

Awards and Recognitions

Overstock was the recipient of a number of awards in 2019, being recognized for achievements spanning from its high-quality customer service to its technological innovation. Notable mentions include:

  • Torchie Award recognition as an industry leader and innovator
  • eTail’s Best in Class Award for Best Mobile App
  • Media Post’s Appy Award for Best Retail App
  • Mobile Star Awards “Superstar” Best Retail Shopping App
  • Loyalty 360’s Top 10 Award for Customer Loyalty Team
  • Two Loyalty360 Awards for Employee Engagement and for Customer Loyalty Strategy
  • Stevie Award in Customer Service and Sales
  • Utah’s Best in State Award for General Merchandising
  • Shatter List recognition for creating and implementing impactful programs and company culture to foster inclusivity from the Women Tech Council

Corporate Giving and Philanthropic Support

Overstock Cares, the Company’s philanthropic program, supported numerous non-profit organizations dedicated to a variety of charitable causes throughout 2019. The program supported the donation of hundreds of products, primarily home goods, to non-profit organizations across the country, in addition to monetary donations to causes including Big Brothers Big Sisters, Operation Underground Railroad, Set for Life LA, and Habitat for Humanity.

Overstock Cares also continues to support its corporate charitable partners Best Friends Animal Society, Special Operations Warrior Foundation, and the American Red Cross by promoting customer donations on its site and check-out page.

About Overstock.com

Overstock.com, Inc Common Shares (NASDAQ:OSTK) / Digital Voting Series A-1 Preferred Stock (Medici Ventures’ tZERO platform:OSTKO) / Series B Preferred (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by nearly 40 million customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly-owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.

O, Overstock.com, O.com, Club O, Main Street Revolution, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company’s Form 10-Q for the quarter ended September 30, 2019, which was filed with the SEC on November 12, 2019, and any subsequent filings with the SEC.

SOURCE: Overstock.com, Inc.

Media Contact:
pr@overstock.com

Investor Contact:
ir@overstock.com

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