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PR Newswire

CellPoint Digital to disrupt payments in new sectors following outstanding success with Airlines

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Payment orchestration leader will boost digital revenues in retail, online gaming, online education and entertainment & media.

LONDON, June 9, 2021 — CellPoint Digital, a fintech leader in payment orchestration for travel, today announces it is now offering its market leading platform to new markets, including retail, online gaming, online education, and entertainment & media to boost digital revenues through an optimised payment service.

CellPoint Digital will capitalise on increased demand for payment orchestration from these verticals by partnering with rapidly expanding brands to deliver better, more frictionless payment experiences for customers through its Velocity Payment Orchestration Platform. The platform is uniquely suited to address the changing needs of modern merchants, allowing for dynamic transaction routing to reduce costs and minimise rejection rates, and offering access to a global payment eco-system of about 500 payment options, including acquirers, Payment Service Providers and payment methods through a single integration point. As retail, online gaming and education or content streaming markets continue to develop, CellPoint Digital aims to export these efficiencies to these new sectors. On average, this means merchants can expect 10% increased digital revenue, 20% decreased payment costs and 75% faster time to market to roll-out a new payment method or feature.

The move comes after several years of expansion and innovation in the travel sector and a series of successes in 2020, despite the pandemic, which saw CellPoint Digital achieve a record volume of Apple Pay transactions for Southwest Airlines and deliver its unique Payment Orchestration Platform to Cebu Pacific. CellPoint Digital was also recently chosen by the Latin American travel brand, Avianca – the world’s oldest commercial airline – to manage its entire Payment Orchestration Platform – a project that is being referred to as the most ambitious of its kind in the industry to date.

As more customers embrace digital payments, sectors such as retail, online gaming and entertainment will face a challenge in having to meet the growing demands from consumers for better, more flexible payment options. Figures from finder, for example, revealed that Buy Now Pay Later (BNPL) services have grown 39% year on year.

CellPoint Digital CEO, Kristian Gjerding is excited to bring their experience in the airline sector to help merchants in new verticals: "At its heart, our mission is to make payments easier for merchants and their customers. From cross-border transactions to rolling out proliferating alternative payment methods, we know from experience that international brands like global airlines face critical payment challenges to grow their digital profits. Our experience working with international airlines, probably the most complex retailers, means that we know how to help merchants quickly and affordably expand into new markets while optimising all their payments and streamlining their payment operations. This know-how will be invaluable as brands in growing sectors such as retail, subscription entertainment and online gaming look to expand into new international markets.

"Simultaneously, we look forward to supporting the rebound of the travel and hospitality sectors – those that have been hardest hit by the pandemic – as they will emerge from global lockdown with the roll-out of the vaccination. As the travel markets are reopening, CellPoint Digital’s leading payment orchestration platform will be on hand to facilitate the adaptation to new travel routes and ultimately best serve their customers in their selected destinations."

About CellPoint digital 

CellPoint Digital makes payments easier™ for airlines, travel companies and other international merchants and their customers. 

CellPoint Digital is a fintech leader in payment orchestration. Our main solution is a powerful omni-channel Payment Orchestration Platform that optimises digital payment transactions, from cards or alternative payment methods, and accelerates the deployment of new payment options. Merchants can easily scale their own payment eco-system across the world, unify the customer payment experience across their website, mobile apps and other channels, optimize the routing of each transaction, increase conversion rate and minimise payment costs. CellPoint Digital also provides an end-to-end digital commerce platform to airlines that masters the entire customer sales cycle and maximises the conversion rate.

CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more. 

 

Related Links :

http://www.cellpointdigital.com

PR Newswire

PingPong Payments launches new PLN and SEK currency exchange services

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FinTech unicorn PingPong Payments now enables marketplace sellers, SMBs & larger enterprise traders to access Europe’s hottest markets through expanded currency capabilities

NEW YORK, June 8, 2021 — Global payments and e-commerce services provider PingPong Payments, today announces expanded payments processing and currency exchange services for both the Polish (PLN) and Swedish (SEK) currencies, allowing access to these growing markets for U.S. and international products and services sellers.

Both PLN and SEK are the latest currencies to be added to PingPong Payments’ global payments solutions, which now offers merchants and online sellers, over Amazon and other platforms, the most currency conversion service options and widest international market access for payments transactions. PingPong Payments is currently the only Amazon Payment Service Provider that offers the Polish currency.

Sweden and Poland are two of Europe’s fastest-growing e-commerce markets. Poland has seen unprecedented growth in online sales due to Covid-19, with nearly 80 percent of internet users in Poland making online purchases. Leading Polish e-commerce platform Allegro reports that 20m clients visit its website every month. Similarly, in Sweden, revenue in the e-commerce market amounted to US$11,211m in 2020 and is expected to grow by 5.2% annually, resulting in a market volume of US$13,729m by 2024.

Kenny Tsang, Managing Director at PingPong Payments, comments: "During a year that saw many traditional businesses disrupted by Covid-19, PingPong has been able to successfully support a surging e-commerce market and achieve global growth. Our ability to now offer both Polish and Swedish currency exchange services will provide U.S. and international merchants with access to two of the fastest-growing, richest e-commerce markets in Europe."

With the addition of PLN and SEK currency conversion services, PingPong Payments now offers marketplace sellers in the U.S. and other geographies support with: the U.S dollar (USD), Canadian dollar (CAD), Australian dollar (AUD), Japanese yen (JPY), Arab Emirates dollar (AED), Euro (EUR), British pound (GBP), Chinese yuan (CNH), Hong Kong dollar (HKD) and Singapore dollar (SGD). 

In addition to cross-border payments processing and currency exchange services, PingPong Payments supports U.S. and international seller growth in overseas markets via additional services including lending, payroll and virtual account solutions. This includes tax and customs registration, supplier validation and payment, market intelligence, and marketing and sales support services.

Kenny continues: "Our innovative payment services have enabled us to become the chosen multidimensional partner of growth to hundreds of thousands of professional sellers, who wish to expand sales internationally. We support our merchants in a way the banking system was not built to, by beating traditional rates and reducing cross-border payment friction through our unique virtual accounts, which mitigate anti money laundering challenges."

Kenny concludes: "Merchants should be strengthening their supply chains for year-round international sales instead of waiting for peak seasons. By partnering with the right network of cross-border payment services, e-commerce merchants can instantly collect, convert and transfer money from all corners of the world, and set their sights on global domination post pandemic. We save cross-border merchants both time and money through innovative services such as VAT processing and opening local bank accounts – allowing them to keep more of their hard-earned profits."   

About PingPong Payments
PingPong Payments was founded in 2015 with the mission of helping global e-commerce sellers keep more of their profits by beating the rates traditional banks offer. Today, the company acts as a multi-dimensional growth partner to more than 750,000 online sellers worldwide, has processed more than 90 billion in cross-border payments for e-commerce merchants to-date, and transfers more than 150 million per day for international e-commerce sellers. Global merchants around the world trust PingPong Payments to help them save on cross-border payments, VAT & supplier payments, and more. PingPong works with reputable brands such as Citibank, J.P. Morgan and Wells Fargo that have won licenses to operate efficiently and are subject to strong regulatory and supervisory frameworks across the U.S., Europe and Asia.

PR Newswire

Mercurity Fintech Holding Inc. Reports First Quarter 2021 Financial Results

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BEIJING, June 5, 2021 — Mercurity Fintech Holding Inc. (the "Company" or "MFH") (Nasdaq: MFH) today announced its unaudited financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Financial and Operating Highlights

  • Q1 2021 GAAP revenues of $81 thousand, compared to $1,392 thousand in Q1 2020.
  • Q1 2021 GAAP gross profit of $47 thousand, compared to $1,313 thousand in Q1 2020.
  • Q1 2021 GAAP net loss of $4,554 thousand, compared to a profit of $1,068 thousand in Q1 2020.
  • Q1 2021 Non-GAAP net loss of $721 thousand, compared to net income of $1,068 thousand in Q1 2020.

Ms. Alva Zhou, Chairperson of the Board and Co-Chief Executive Officer, said: "Our operating results from this quarter continued to reflect the stages of our ongoing business transition. A business transition is not a linear process and often takes time, and revenues from our new DeFi platform related products have yet to materialize. We are going to seek new market opportunities in the digital assets industry as we continue to execute our strategic transition, and we remain committed to our goals of creating sustainable growth and delivering strong performance results to our shareholders."

Changes to the Board of Directors and Management Team in the First Quarter 2021

On March 4, 2021, Mr. Liu Hao was appointed as a Director and Mr. Huang Cong as an Independent Director to the Company’s Board of Directors (the "Board"), effective from March 4, 2021.

On April 30, 2021, the Company appointed Mr. Liu Hao as co-Chief Executive Officer, effective from May 1, 2021.

Mr. Haohan Xu resigned as a Director of the Board due to personal reasons, effective on June 5, 2021.

Mr. Erez Simha, President and Chief Financial Officer, has resigned to pursue other opportunities, effective on June 5, 2021. Mr. Liu Hao, director and co-Chief Executive Officer, will take on the role of acting Chief Financial Officer of the Company, effective upon Mr. Simha’s departure.

Recent Developments

On April 13, 2021, the Company and certain investors entered into a Share Subscription and Warrant Purchase Agreement ("Subscription Agreement") pursuant to which the investors agreed to purchase a total of 537,143,470 ordinary shares of the Company ("Ordinary Shares") and warrants to purchase up to 537,143,470 Ordinary Shares for an aggregate consideration of US$10,000,000, to be settled in the form of 172.9354 bitcoins. The transaction has not been closed by the latest closing date as provided in the Subscription Agreement. The Company’s management team is negotiating new terms and conditions with the investors. 

FINANCIAL RESULTS

Summary of First Quarter Results:

Revenues for the first quarter of 2021 were $81 thousand, compared to $1,392 thousand in the same period last year. Revenues for the first quarter of 2021 comprised of software development fees from a client who entered into a contract with the Company in July 2020 and service fees from the DeFi platform.

Cost of revenues for the first quarter of 2021 was $35 thousand, compared to $79 thousand in the same period last year. The cost of revenues was primarily attributable to direct costs related to the contract signed in July 2020. 

Gross profit for the first quarter of 2021 was $47 thousand, compared to $1,313 thousand in the same period last year.

General and administrative expenses for the first quarter of 2021 were $4,601 thousand, compared to $245 thousand in the same period last year. General and administrative expenses consisted primarily of $3,833 thousand in stock-based compensation costs and $768 thousand in employment costs, office expenses, and professional fees. The increase in stock-based compensation expenses was primarily due to: (1) awards of 587,000 Restricted Stock Units (1 RSU equals 360 ordinary shares) during the quarter, and (2) the vesting acceleration of previously granted Restricted Stock Units. In addition to stock-based compensation, the increase in general and administrative expenses primarily reflected increases in employment costs and office expenses as a result of the Company’s acquisition of NBpay Investment Limited in March 2020. 

Loss from operations for the first quarter of 2021 was $4,554 thousand, compared to income from operations of $1,068 thousand in the same period last year.

Loss before provision for income taxes for the first quarter of 2020 was $4,554 thousand, compared to income before taxes of $1,068 thousand in the same period last year.

Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc. is a non-GAAP measure which excludes amortization of acquired intangible assets, impairment loss, share-based compensation, and related provision for income tax expenses. Non-GAAP net loss attributable to MFH for the first quarter of 2021 was $721 thousand, compared to a net income of $1,068 thousand in the same period of last year.

Cash and cash equivalents were $287 thousand as of March 31, 2021, compared to $175 thousand as of December 31, 2020.

Total shareholders’ equity was $10.2 million as of March 31, 2021, compared to total shareholders’ equity of $10.2 million as of December 31, 2020.

Non-GAAP Measures

To supplement the Company’s consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("U.S.GAAP"), the Company uses non-GAAP financial measures, including Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc., that is adjusted from results based on U.S. GAAP to exclude amortization of acquired intangible assets, impairment loss, share-based compensation and related provision for income tax expenses. The non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors’ overall understanding of the historical and current financial performance of the Company’s operations and prospects for the future. The non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP but should not be considered a substitute for or superior to U.S. GAAP financial results. In addition, the Company’s calculation of this non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited. A limitation of using these non-GAAP financial measures is that amortization of acquired intangible assets, impairment of goodwill, share-based compensation and related provision for income tax benefits have been and may continue to be for the foreseeable future significant recurring expenses in the Company’s results of operations. The Company compensates for these limitations by providing reconciliations of non-GAAP financial measures to U.S. GAAP financial measures. Please see the reconciliation tables at the end of this earnings release.

BUSINESS OUTLOOK

Due to uncertainty as a result of the continued product development and business transition, the Company will not provide a financial forecast for Q2 2021.

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "aim," "anticipate," "believe," "estimate," "expect," "hope," "going forward," "intend, " "ought to, " "plan, " "project," "potential," "seek," "may," "might," "can," "could," "will," "would," "shall," "should," "is likely to" and the negative form of these words and other similar expressions. Among other things, statements that are not historical facts, including statements about the Company’s beliefs and expectations are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release and is based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

CONTACTS

Xingyan Gao
Mercurity Fintech Holding Inc.
ir@mercurity.com
Tel: +86 (10) 5360-6428   

 

MERCURITY FINTECH HOLDING

CONSOLIDATED STATEMENTS OF OPERATIONS

(US dollars in thousands, except for number of shares and per share (or ADS) data)

Three months End March 31,

2021

2020

Revenues

Third parties

$                       81

$            1,392

Total revenues

81

1,392

Cost of revenues

(35)

(79)

Gross profit

$                       47

$            1,313

Operating expenses:

General and administrative

(4,601)

(245)

Impairment loss

–

–

Total operating expenses

$                (4,601)

$             (245)

(Loss)/income from operations

$                (4,554)

$            1,068

Interest income, net

–

–

(Loss)/income before provision for income taxes

$                (4,554)

$            1,068

Income tax benefits/(expenses)

–

–

(Loss)/Income from continuing operations

$                (4,554)

$            1,068

Net loss

$                (4,554)

$            1,068

Net loss attributable to holders of ordinary shares of  Mercurity
Fintech Holding Inc.

$                (4,554)

$            1,068

Net loss per ordinary share

Basic

$                  (0.00)

$              0.00

Diluted

$                  (0.00)

$              0.00

Weighted average shares used in calculating net loss per ordinary share

Basic

3,132,033,168

2,360,008,957

Diluted

3,132,033,168

2,360,008,957

Net loss

$                (4,554)

$            1,068

 

MERCURITY FINTECH HOLDING

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(US dollars in thousands)

Three months End March 31,

2021

2020

Net loss

$                (4,554)

$            1,068

Other comprehensive (loss)/income, net of tax of $nil:

Change in cumulative foreign currency translation adjustment

(3)

(26)

Comprehensive loss

$                (4,557)

$            1,042

 

MERCURITY FINTECH HOLDING

CONSOLIDATED BALANCE SHEETS

(US dollars in thousands)

March 31, 2021

December 31, 2020

ASSETS:

Current assets:

Cash and cash equivalents

$                287

$                      175

Accounts receivable

1,311

1,528

Prepaid expenses and other current assets, net

80

102

Amounts due from related parties

572

666

Total current assets

2,250

2,471

Non-current assets:

Intangible assets, net

389

383

Goodwill

8,107

8,107

Total non-current assets

8,496

8,490

TOTAL ASSETS

$           10,746

$                 10,961

LIABILITIES AND SHAREHOLDER’S EQUITY :

Current liabilities:

Accrued expenses and other current liabilities

$                471

$                      678

Amounts due to related parties

31

31

Total current liabilities

$                502

$                      709

Non-current liabilities:

Total non-current liabilities

–

–

TOTAL LIABILITIES

$                502

$                      709

Shareholders’ equity:

Ordinary shares

$                  35

$                        30

Additional paid-in capital

653,690

649,146

Accumulated deficits

(644,574)

(640,020)

Accumulated other comprehensive (loss)/income

1,093

1,096

Total shareholders’ (deficit)/equity

$           10,244

$                 10,252

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$           10,746

$                 10,961

 

MERCURITY FINTECH HOLDING

Reconciliation of Non-GAAP financial measures to comparable GAAP measures

(US dollars in thousands)

Three months End March 31

2021

2020

Income/(Loss) from continuing operations

$     (4,554)

$       1,068

Net loss attributable to Mercurity Fintech Holding Inc.

(4,554)

1,068

Amortization of acquired intangible assets (a)

–

–

Provision for income tax expenses (b)

–

–

Share-based compensation (c)

3,833

–

Impairment loss (d)

–

–

Non-GAAP (loss)/income from continuing operations (d)

$        (721)

$       1,068

Non-GAAP net (loss)/income attributable to Mercurity Fintech Holding Inc.(a)(b)(c)(d)

$        (721)

$       1,068

Notes:

(a) Adjustment to exclude amortization of acquired intangible assets
(b) Adjustment to exclude provision for income tax expenses
(c) Adjustment to exclude share-based compensation
(d) Adjustment to exclude impairment loss

Related Links :

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PR Newswire

LTI Syncordis Recognized as Temenos Service Partner of the Year

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Award presented at Temenos Community Forum Online 2021

MUMBAI, India, June 2, 2021 — LTI Syncordis, a global Temenos implementation partner and a subsidiary of Larsen & Toubro Infotech Ltd. (BSE: 540005) (NSE: LTI) has been recognized as Service Partner of the Year by Temenos at this year’s virtual TCF Online 2021.

Since its inception, LTI Syncordis has remained committed to the success of Temenos community and has evolved into a global one-stop partner for end-to-end implementation and systems integration. In addition, LTI Syncordis is the first company with the authorization of "Professional of the Financial Sector" (PSF) in Luxembourg that is fully dedicated to Temenos services with capabilities to support all Temenos software and is consistently rated with high partner satisfaction scores among Temenos Services Partners. In 2020, LTI Syncordis selected Temenos to launch its innovative banking-as-a-service platform in the Nordic market which enables banks to modernize legacy core banking systems rapidly and efficiently. With more than 600 Temenos experts at Syncordis and 35,000+ technology professionals at LTI, LTI Syncordis is the preferred partner for Temenos clients worldwide looking for accelerated innovation.

Sudhir Chaturvedi, President & Executive Board Member, LTI said:

"We believe in delivering excellence and always going the extra mile for our clients. Being recognized for our commitment is marvelous and we at LTI Syncordis appreciate it very much. As a dedicated pure-play Temenos partner, we look forward to cementing our fruitful partnership with Temenos further and driving innovative digital transformation in the banking industry for many years to come."

Guillaume Desjonqueres, Chief Executive Officer, Syncordis commented:

"I am delighted to accept this award on behalf of all our staff who were key in making this achievement possible. Today more than ever, it is vital to focus on cooperation and delivering the highest quality end-to-end projects to financial institutions of all sizes. Making banking better is all about sharing responsibility and empowering innovative digital transformation programs. This recognition inspires us. Alongside our long-term partner Temenos, we will stay committed – both to the banks and their valued customers."

Alexa Guenoun, Chief Operating Officer, Temenos said:

"Partners have an amazing impact in the ecosystem we’ve developed over our 27 years in banking – they help us to innovate, to scale, and to make banking better for our customers, and the world. I am delighted to recognize LTI Syncordis for their part in delivering technology that creates better, faster and smarter experiences, and increased agility to respond to an ever-changing world. It’s because of partners like LTI Syncordis that we have one of the strongest, most dynamic and resilient communities in the industry."

About Syncordis:

Syncordis, a Luxembourg based LTI Company, delivers high-quality end-to-end implementation and system integration projects with an exclusive focus on Temenos banking software such as Temenos Infinity, Temenos Transact, Temenos Fund Administration, Temenos Wealth, Temenos Payments, Temenos Financial Crime Mitigation and Temenos DataSource. Syncordis is also the only Temenos global partner that is fully dedicated to Temenos services with capabilities to support all Temenos software suites. With 12 offices across the globe, 600+ experts and complementary services like SaaS and regulated production support services, Syncordis enables its international clients to master their digital transformation. This makes Syncordis one of the one-stop service partners for Temenos clients worldwide. For more information, please visit www.syncordisconsulting.com

About LTI:

LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 400 clients succeed in a converging world. With operations in 31 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unparalleled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 35,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Follow us at @LTI_Global

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PR Newswire

Circle Completes $440 Million Financing to Drive Growth and Market Expansion

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BOSTON, May 29, 2021 — Circle, a global financial technology firm that provides payments and treasury infrastructure for internet businesses, today announced it has raised $440 million in financing from leading institutional and strategic investors.

The financing, among the top 10 in private fintech investments, fuels the company’s continued growth, organizational development and market expansion opportunities. On the heels of recruiting world-class leaders to Circle’s executive team, including Dante Disparte, as Chief Strategy Officer and Head of Global Policy, Jeremy Fox-Geen, as Chief Financial Officer, Mandeep Walia as Chief Compliance and Risk Officer, along with hundreds of open roles across the U.S. and around the world, Circle is now poised to meet significant global demand for its products and services aimed at marrying the existing financial system with breakthroughs in digital currency within payments and finance.

Underpinning this growth is Circle’s principal contribution in the rapid rise of USD Coin, or USDC, as the world’s most trusted and fastest growing dollar digital currency, which now stands at $22 billion in circulation. USDC has grown by 436% in 2021 alone, and over 28,000% over the past 12 months.

"As a company, Circle has remained committed to our mission of raising global economic prosperity through the power of digital currency, blockchains and breakthroughs in programmable money. The sustained global demand for our services powering the growth of USDC, as the most trusted and well regulated dollar digital currency, signals that we are one step closer to achieving our mission. With powerful backers who are committed to our mission and vision, we will redouble our efforts to expand into new markets, continue driving fundamental technology innovation and grow our team," said Jeremy Allaire, Circle co-founder and CEO.

The financing included investments from leading private equity, institutional and strategic investors, including Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, as well as Michael J. Price and Friends. 

"Circle has been a pioneer in unlocking the potential of blockchain-enabled payments. With USDC’s extraordinary growth, Circle has established itself at the center of a new generation of financial services and applications. We are proud to continue to partner with Circle to develop a better global financial system," said Barry Silbert, Founder and CEO of Digital Currency Group.

"Circle has been an experienced player in making fiat work on blockchains for nearly eight years and has built deep capabilities to ease payments in crypto. At FTX we’re excited to partner further with Circle to help expand these capabilities to all crypto users," said Sam Bankman-Fried, CEO of FTX.

About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle’s platform has supported more than 100 million transactions by more than 10 million retail customers and more than 1,000 businesses. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully reserved dollar digital currency. USDC now stands at more than 22 billion and has supported over $615 billion in transactions over the past year. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com

Logo – https://techent.tv/wp-content/uploads/2021/05/circle-completes-440-million-financing-to-drive-growth-and-market-expansion.jpg

Related Links :

http://www.circle.com

https://circle.com

PR Newswire

KuCoin Partners With Cashaa to Combat COVID-19 Crisis in India Through Distribution of Daily Supplies

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VICTORIA, Seychelles, May 19, 2021 — KuCoin, an IDG-backed crypto exchange, announced today that it has partnered with Cashaa, a blockchain-based financial platform, to jointly initiate charity campaigns to help people cope with the increasingly severe challenges of COVID-19 in India.

Latest statistics show that India’s COVID-19 cases have surpassed 25 million as mutations spread across the globe. What makes things worse is that the virus crisis is pushing up the cost of living as the shortage of daily supplies has been seen in many Indian cities. As part of KuCoin’s charity initiative in India, the crypto platform has pledged ₹2 million worth of food and daily supplies, and these goods will be delivered to the families in need with the help of Unicas, the world’s first crypto bank powered by Cashaa.

KuCoin joins hands with Cashaa to start distribution of food and daily supplies to 2000 families in India
KuCoin joins hands with Cashaa to start distribution of food and daily supplies to 2000 families in India

The first batch of food and daily supplies including wheat, rice, dal and salt has started to be distributed to people in Jaipur, Delhi, and Patna earlier today, and more families will be covered in the following days. It is noticed that each ration kit will be able to feed a family of four for up to two weeks.

"As a global exchange, we pay close attention to the COVID-19 situation as it spreads across the world," said Johnny Lyu, CEO at KuCoin Global. "Knowing its outbreak in India and considering the daily nutritional needs are at the edge for millions of people during the quarantine, as the People’s Exchange, we are pleased to take our responsibility to help local people address these challenges brought by the COVID-19."

As the COVID-19 has continued to deteriorate in India since April, KuCoin launched a charity fund with an initial investment of ₹1 Crore on April 28, 2021. The fund is dedicated to assist local partners and NGOs in providing much-needed support to residents in those cities with insufficient resources to fight against the pandemic.

"Unicas started the initiative #NoOneSleepsHungry to address the root cause of hunger and that it does not become the reason for anyone to suffer amidst the ongoing COVID-19 crisis. With our distribution of 1,000 ration kits with essential food supply, the campaign has positively affected the lives of several people in Jaipur, however it’s not enough," said Dinesh Kukreja, CEO of Unicas. "We are grateful to join hands with KuCoin to facilitate the underprivileged and needy in these dire times and extend this initiative to two other cities and provide support to 2,000 families."

As one of the first crypto trading platforms to enter the Indian market, KuCoin is committed to supporting local blockchain startups, listing promising crypto gems, providing Indian Investors with safe and easy-to-use trading services, as well as contributing to the mass adoption of blockchain. It believes that the technology has the potential to facilitate the free flow of value, upholding the well-being of all people.

As the next step of its charity initiative in India, KuCoin has partnered with Adim Sanskruti, a Pune-based Non-Governmental Organization (NGO), to extend the daily supplies distribution to Pune, the second largest city in Maharashtra in a few days, and it is anticipated that another 750 families will be benefited.

About KuCoin

KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 6 million users in 207 countries and regions around the world. In 2018, KuCoin has secured $20 million in Round A funding from IDG Capital and Matrix Partners. For more information, please visit www.kucoin.com

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Kasisto Establishes Itself as the Intelligent Digital Assistant Leader for Banking on the African Continent

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Kasisto makes key organizational hires within the African market as the firm experiences significant growth and selection of KAI by 3 of the top 5 financial institutions within this important region

NEW YORK and JOHANNESBURG, May 18, 2021 — Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, announced today that 3 of the top 5 financial institutions within the African market; Absa, Nedbank and Standard Bank, have now selected KAI and its conversational AI technology to power their Intelligent Digital Assistant experiences.

This important milestone reflects the growing need for digital assistants across the financial services industry and the accelerated adoption of these experiences on the African continent.

In fact, in a recent McKinsey report, Africa emerged as the world’s second fastest banking market, with the banked population in the region expected to swell by more than 150 million people, from nearly 300 million in recent years to 450 million by 2022 – with demand for digital banking surging.

"Our KAI-powered intelligent digital assistant, Abby, has transformed the ways we engage and service our customers. We have experienced significant digital engagement with our clients and we continue to see an increase in usage month over month," said Johan Viljoen, Head of Channel Design – Africa Regional Office. "Kasisto has become a critical partner in our journey to provide our customers the best digital experience within our banking markets."

With nearly 30 million customers collectively, Absa, Nedbank and Standard Bank are setting the gold standard for digital engagement within the South African banking market and the African continent. By choosing Kasisto’s KAI and newly launched solution, Enlighten; the ultimate intelligent digital assistant solution, to power their digital engagement strategies these banking leaders are redefining the banking digital experience in their operating environments, with banks across the region following suit.

To support the growing demand, Kasisto is establishing a corporate presence in South Africa that will be led by Justin Arnoldi, Managing Director, Africa and Middle East. In addition to this key hire, Byron Wolff will also be joining the Kasisto team as Customer Strategy Manager and will be responsible for leading Kasisto’s customer strategy and success in the region.

"The African banking market is transforming the way digital banking is experienced by customers on the continent. Kasisto has emerged as a leading partner for transformation within the top African banks, including financial institutions in the Middle East. This is an exciting time for both financial organizations and Kasisto in the region, and I am honored and excited to lead Kasisto’s African and Middle East operations and continue our success!" said Justin Arnoldi, Managing Director, Kasisto.

"The need for intelligent digital assistants, especially in areas of the world where banking customers have a "digital first" expectation presents a great growth opportunity for Kasisto. Our early success with Absa has now led us to establishing Kasisto as a leader within Africa," says Zor Gorelov, chief executive officer for Kasisto. "We are establishing an organization on the ground to ensure the ongoing success of our current and new customers and to drive expansion across the entire region."

To learn more about Kasisto, visit:

https://www.kasisto.com/

About Kasisto

Kasisto was founded in 2013 with a mission to humanize digital experiences across the financial services industry.  KAI, our industry leading digital experience platform, is chosen by financial institutions across the globe, such as DBS Bank, J.P. Morgan, Emirates NBD, Standard Chartered, TD Bank, and Manulife Bank among others, for its proven out of the box virtual assistants, and track record to drive business results while improving customer experiences. The platform is engaging with millions of banking customers around the world, all the time, across multiple channels, in different languages, and is optimized for performance, scalability, security, and compliance. KAI is built with the deepest Conversational AI portfolio in the industry.

Contact: PR@kasisto.com

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FinVolution Group to Report First Quarter 2021 Financial Results on Tuesday, May 25, 2021

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-Earnings Call Scheduled for 8:00 a.m. ET on May 25, 2021–

SHANGHAI, May 17, 2021 — FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced that it will report its first quarter 2021 unaudited financial results, on Tuesday, May 25, 2021, before the open of U.S. markets.

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 25, 2021 (8:00 PM Beijing/Hong Kong time on May 25, 2021).

Dial-in details for the earnings conference call are as follows:

United States (toll free):

1-888-346-8982

Canada (toll free):                     

1-855-669-9657

International:

1-412-902-4272

Hong Kong, China (toll free):

800-905-945

Hong Kong, China:

852-3018-4992

Mainland China:

400-120-1203

Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for "FinVolution Group."

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at  https://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until June 1, 2021, by dialing the following telephone numbers:

United States (toll free):

1-877-344-7529

Canada (toll free):

1-855-669-9658

International:

1-412-317-0088

Replay Access Code:

10156736

About FinVolution Group

FinVolution Group is a leading fintech platform in China connecting underserved individual borrowers with financial institutions. Established in 2007, the Company is a pioneer in China’s online consumer finance industry and has developed innovative technologies and has accumulated in-depth experience in the core areas of credit risk assessment, fraud detection, big data and artificial intelligence. The Company’s platform, empowered by proprietary cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience. As of December 31, 2020, the Company had over 116.1 million cumulative registered users.

For more information, please visit https://ir.finvgroup.com.

For investor and media inquiries, please contact:

In China:
FinVolution Group
Head of Investor Relations
Jimmy Tan
Tel: +86 (21) 8030 3200-8601
E-mail: ir@xinye.com

The Piacente Group, Inc. Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: finv@tpg-ir.com

In the United States:
The Piacente Group, Inc. Brandi Piacente
Tel: +1-212-481-2050
E-mail: finv@tpg-ir.com

Related Links :

https://ir.finvgroup.com

PR Newswire

Circle and FTX Announce Global Partnership

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World’s Fastest Growing Crypto Exchange Adopts Circle Platform for Payments and USDC Infrastructure, Including Seamless Card Payments Experiences on FTX.com and Blockfolio

BOSTON, May 15, 2021 — Circle, a global financial technology firm that provides payments and treasury infrastructure for internet businesses, today announced it has entered into a global partnership with FTX, the world’s fastest growing crypto exchange.

Under terms of the partnership, FTX has integrated Circle APIs and launched USD Coin (USDC) payments support across its FTX and Blockfolio services. Building on Circle API Services allows FTX to tightly control their customer experience while enabling payments and payout rails through ACH, international wire transfers and credit and debit cards.

FTX and Blockfolio customers can now fund their dollar balances with instant access for trading using credit and debit cards in nearly 200 countries, with funds instantly settling in USDC. With seamless ‘fiat-to-USDC’ experiences, customers can also easily transfer USDC on Ethereum, but also on Solana, a rapidly growing 3rd generation blockchain, enabling on-chain USDC transactions in seconds with no transaction cost.

"Circle has been a pioneer in making fiat work on blockchains for nearly eight years and has built deep capabilities to ease payments in crypto," said Sam Bankman-Fried, Co-Founder CEO of FTX. "Circle is moving with incredible speed. FTX is one of the fastest growing crypto exchanges in the world. With Circle, we’ve found a very strong partner to build with."

"FTX continues to impress the world with blazing fast execution and innovation, making it among the most formidable companies in the global crypto ecosystem," said Jeremy Allaire, CEO and Co-Founder of Circle. "With our latest collaboration, we’re continuing to pioneer customer experience for payments and crypto trading, and we are thrilled to continue to build together with Sam and the FTX team."

USDC has continued to experience tremendous growth, becoming the fastest-growing regulated dollar digital currency in the world. USDC in circulation has grown from just over 400 million in early 2020 to over 15 billion today. USDC adoption has expanded across trading, payments, savings, lending and other use cases in blockchain finance. Today, thousands of companies in the blockchain ecosystem have integrated support for USDC in their products and services.

About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle’s platform has supported more than 100 million transactions by more than 10 million retail customers and more than 1,000 businesses. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully reserved dollar digital currency. USDC now stands at more than $15 billion and has supported over $500B in transactions over the past year. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com

 

Related Links :

http://www.circle.com

PR Newswire

Nayax Announces the Pricing of its Initial Public Offering

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HERZLIYA, Israel, May 11, 2021 — Nayax Ltd. ("Nayax") announced today the pricing of its global initial public offering of 63,500,000 ordinary shares at a price per share of ILS 10.50 (approx. USD 3.25). The offering comprises 44,000,000 ordinary shares by Nayax and an aggregate of 19,500,000 ordinary shares by three existing shareholders (the "Selling Shareholders"). In addition, Nayax has granted the underwriters a 30-day option to purchase up to an additional 9,525,000 ordinary shares from Nayax, at the initial public offering price. Nayax intends to use the net proceeds of approximately ILS 430 million (approximately USD 132 million) from the initial public offering for financing the expansion of Nayax’s business activities, pursuing its strategy to enter new markets and financing acquisitions. Nayax will not receive any proceeds from the sale of ordinary shares by the Selling Shareholders. The offering is expected to close on May 12, 2021, subject to customary closing conditions.

Yair Nechmad, CEO, chairman and co-founder, stated: "We’re excited to begin this new chapter in Nayax’s journey and we believe it is only the beginning. We look forward to delivering value to our shareholders as we do to our growing number of customers across the globe every day. We’re especially pleased to have completed a successful global offering on the Tel Aviv Stock Exchange. We hope it will pave the way for others to follow."

"This milestone was made possible by the hard work and dedication of our employees and business partners, to whom the board conveys its deep appreciation and gratitude. The IPO process had the full support and guidance of an outstanding team, including the investment bankers of Jefferies Group LLC, sole global coordinator, Oppenheimer & Co. Inc., lead international manager and Leader Capital Markets, lead Israeli manager, the lawyers at Herzog, Fox & Neeman, Davis Polk and Wardwell LLP, Gornitzky & Co. and Latham & Watkins, LLP, the auditors of PwC Israel and the Investor Relations experts of MS-IR LLC."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

ABOUT NAYAX

Nayax offers a complete cashless payment solution, telemetry, management suite and consumer engagement tools to retailers, including unattended retail. Nayax’ features help operators improve their day-to-day operations and long-term planning and transforms unattended machines into 24/7 retail stores. Nayax also ensures all transactions are secure with EMV transactions and increase revenue by accepting all dominant payment options in each region. As a global company, Nayax’s goal is to help their customers grow their business with their complete merchant account capabilities. Visit www.nayax.com for more information.

Visit www.nayax.com for more information.

The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. In the United States, any offer of the ordinary shares will be made only to "qualified institutional buyers" as defined in and in reliance on Rule 144A under the Securities Act or another available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Outside the United States, any offer will be made in accordance with Regulation S of the Securities Act.

Forward looking statement
The information included in this press release contains, or may be deemed to contain, forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995 and the Israeli Securities Law, 1968). Said forward-looking statements, relating to the initial public offering, are subject to uncertainties and assumptions and the actual results may materially differ. All forward-looking statements in this press release are based on information available to Nayax on the date hereof.  All written or oral forward-looking statements attributable to Nayax are expressly qualified in their entirety by the factors referred to above. Nayax does not intend to update these forward-looking statements.

IR Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com 
Tel: +1-917-6078654