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Cross-Border Payment Platform dLocal Secures $150 Million Through Latest Investment Round Led By Alkeon Capital

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dLocal, a cross-border payment platform, announced on Friday it secured $150 million through its latest investment at a valuation of $5 billion. According to dLocal, Alkeon Capital led the round with participation from BOND, D1 Capital Partners, and Tiger Global.

dLocal claims to be the only 360 payments technology platform designed to handle mass online payments in growth markets across LATAM, APAC & EMEA. Global e-commerce companies, including Uber, Sony, GoDaddy, Constant Contact and Avast, rely on dLocal to accept 300+ locally-relevant payment methods online, as well as issue mass payouts to their contractors, agents and sellers in emerging markets around the globe.

“With dLocal, there is no need to manage separate pay-in and payout processors, set-up numerous local entities, integrate dozens of isolated acquirers and payment methods or worry about stranded funds overseas. By operating as the payments processor and merchant of record in each market, dLocal is making it simple for online companies to reach 2 billion digitally-savvy consumers and maximize revenues in today’s fastest-growing markets.”

Speaking about the investment, Sebastián Kanovich, CEO of dLocal, stated:

“This new investment combined with our strengthened leadership team will allow us to further focus on our customers’ success.”

In conjunction with the investment, dLocal reported it has appointed Sumita Pandit as Chief Operating Officer. Prior to joining dLocal, Pandit was a Managing Director and Global Head of Fintech Investment Banking for J.P. Morgan.

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Source: https://www.crowdfundinsider.com/2021/04/173854-cross-border-payment-platform-dlocal-secures-150-million-through-latest-investment-round-led-by-alkeon-capital/

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Real-Time Virtual Payments Provider ACI Worldwide Extends Partnership with Kuwait’s National Digital Banking Firm

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ACI Worldwide (NASDAQ: ACIW), a multinational provider of real-time virtual payment solutions, reveals that it has expanded its working relationship with KNET, which is Kuwait’s national digital banking firm.

Through the expanded partnership, ACI Worldwide and KNET will introduce several innovative virtual payment services in order to support clients during the Coronavirus crisis.

KNET, a long-time ACI client, provides end-to-end payment services for financial institutions based in Kuwait. With the assistance of the ACI Enterprise Payments Platform, KNET introduced the 3edeti service, which allows people to send Eidia digitally to any mobile number that has been registered in Kuwait.

Eidia are e-gift vouchers that may be sent as gifts to friends or family members during Eidh festival (which comes after the Holy Month of Ramadan being observed until May 14, 2021). Eidh is notably one of the most important festivals in the Islamic calendar during which a lot of cash has traditionally been exchanged between relatives and family members.

The service allows users to send Eidia digitally and instantly, and will be accessible 24/7 during the upcoming Eid Al-Fitr holiday. It provides various benefits like cashback offers and other exclusive perks from participating merchants.

Khaled Bu Abbas, Application Dev Manager at KNET, stated:

“Like many financial institutions around the world, the pandemic has forced us to accelerate innovation and offer new digital payment products and services to our customers. Utilizing the ACI Enterprise Payments Platform has helped us to rise to this challenge. It has empowered us to develop new services with a fast time to market and will future-proof our business.”

Santhosh Rao, vice president, MEASA, ACI Worldwide, remarked:

“The pandemic has cast a spotlight on the need for a robust digital payments infrastructure and financial institutions need to move quickly to succeed in this challenging and dynamic environment, without compromising the security and resilience of their core banking systems. Continuing its long-standing cooperation with ACI, KNET will be strongly placed to meet the changing needs of its customer base and to rapidly respond to shifting trends, regulatory mandates and new competition.”

The ACI Enterprise Payments Platform is described as an advanced enterprise payments solution for acquiring and authorizing transactions across virtual payment channels.

It is developed on open service-oriented architecture for carrying out robust payments. The solution provides 24×7 secure payment capabilities and is reportedly being used by the largest banks in the world.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175251-real-time-virtual-payments-provider-aci-worldwide-extends-partnership-with-kuwaits-national-digital-banking-firm/

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Robo-Advisor AQUMON Launches SmartGlobalX, a “Smart” Bitcoin ETF Product for Investing in Securitized Digital Assets

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Robo-advisor AQUMON has launched SmartGlobalX, which is described as a “smart” Bitcoin exchange-traded-fund (ETF) investment portfolio. It integrates SmartGlobal algorithms with a Bitcoin ETF in order to allow customers to invest in securitized digital assets, starting from as low as $1,000.

AQUMON’s management noted that when compared with crypto trading that typically requires extensive investment experience, a lot of time, and attention, SmartGlobalX can assist investors with managing risks and receiving steady returns via data-driven, automated strategies.

With significantly lower management fees of around 0.4%-1% and less than 1% tracking errors, Bitcoin ETFs are considered by some to be considerably more liquid and secured with a greater return (on average) when compared to various other BTC investment products.

By making investments into Bitcoin ETFs instead of trading the actual digital currency, investors are allowing AQUMON to manage the complications and security concerns associated with cryptocurrencies, the announcement explained.

AQUMON stated that investors don’t have to be concerned about crypto exchanges, wallet security and can focus on the unique features of BTC.

SmartGlobalX’s Bitcoin ETF allocation only comprises 2%-4% of the investment portfolio, which means that investors have BTC to bring up or balance out their portfolios when other assets are not performing well.

When compared to a return of 56.85% from AQUMON’s SmartGlobal Max, the Bitcoin ETF gives AQUMON’s  SmartGlobalX a net return of 106.12%, the announcement noted.

Kelvin Lei, CEO and Co-Founder of AQUMON, stated:

“As a digital wealth management platform that aims to make investment accessible and affordable to the general public, we understand the hurdles for retail investors to invest in this high-risk asset. SmartGlobalX manages the risks and concerns investors have, making Bitcoin investment effortless and approachable.”

AQUMON is a Robo-Advisory company with head offices in Hong Kong. Its mission is to “bring professional wealth management services to every individual.”

The company’s management explains that they “utilize an algorithmic, data and machine learning approach to provide clients access to diversified global asset allocation.” Through AQUMON’s intuitive intelligent platform, their clients can “seek to maximize long term return with low cost, low risk and transparency.”

In 4 years of operations, AQUMON has “grown out of an incubator at Hong Kong University of Science and Technology (HKUST) into a fully licensed financial service firm (SFC Type 1, 4 and 9) with offices in Hong Kong, China and Singapore.”

AQUMON provides institutional solutions with “highly robust” and customizable investment products. AQUMON is working with over 50 major financial intuitions and fund managers and remains focused on expanding its operations.

AQUMON is reportedly backed by the Alibaba Entrepreneur Fund and other institutional investors.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175257-robo-advisor-aqumon-launches-smartglobalx-a-smart-bitcoin-etf-product-for-investing-in-securitized-digital-assets/

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Fintech Engage People, a Loyalty Network Enabling Payments with Points at Checkout, to Hire Additional Team Members

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Engage People, which claims to be the only loyalty network that allows program members to pay with points “directly at checkout,” is reportedly expanding its operations  – and recruiting new talent.

At present, Engage People has over 25 job openings across North America. The company confirmed that it can onboard new team members remotely.

Open positions at Engage People reportedly include DevOps, client success teams, human resources and graphic design roles. The preferred location for these roles is in the Greater Toronto Area of Ontario, however, the firm says it’s “location agnostic” and will consider taking applicants from anywhere in North America.

Len Covello, CTO at Engage People, stated:

“We are looking to grow our team to keep pace with the demand for loyalty solutions from our partners. Banks and retailers are coming to us because e-commerce is undergoing a fundamental transformation and we are at its vanguard. Consumers increasingly expect to be able to shop online and pay via a variety of methods, including with loyalty points, and this shift represents more than an abating trend.”

Engage People’s hiring plans have been announced at a time when the firm is undergoing considerable growth.

Last year, Engage People experienced over 30% YoY growth in its business operations. This expansion was mainly due to the adoption and validation of the “Pay with Points” (PwP) model, and this year seems to be even more promising as new clients and merchants have been added.

Jonathan Silver, CEO at Engage People, remarked:

“Engage People is a fantastic place to work. We offer industry-leading pay and benefits. We also have an employee-first program aimed at enhancing employee engagement and culture, enriching the employee experience, and supporting the professional growth and development of our team. And, we are committed to having a diverse workforce, and this commitment extends to our willingness to hire employees located anywhere in the world.”

Earlier this year, Engage People CTO Len Covello provided key insights (in an interview with CI) on how loyalty points are an “often-overlooked” alternative payment option.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175247-fintech-engage-people-a-loyalty-network-enabling-payments-with-points-at-checkout-to-hire-additional-team-members/

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Silvergate Capital Corporation to Issue Diem Stablecoin in the US

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Silvergate Capital Corporation (NYSE: SI) will partner with Diem, formerly Libra, to issue a US dollar stablecoin in the US.

Silvergate is a Federal Reserve member bank and a provider of financial infrastructure solutions and services for the growing digital currency industry. Shares in Silvergate rocketed higher by over 17% in after-hours trading following the news.

As was previously reported, Diem, a Switzerland-based entity, has decided to pull its application with Swiss regulatory authorities to become a money payments operator.

Under the partnership, Silvergate Bank will become the exclusive issuer of the Diem USD stablecoin.

The Diam Association has also decided to move its primary operations from Switzerland to the United States.

Diem Networks US will now run the Diem Payment Network (DPN), a permissioned blockchain-based payment system that facilitates the real-time transfer of Diem stablecoins among approved network participants.

In a release, Diem CEO Stuart Levey, said that Silvergate was an ideal partner.

“We are committed to a payment system that is safe for consumers and businesses, makes payments faster and cheaper, and takes advantage of blockchain technology to bring the benefits of the financial system to more people around the world. We look forward to working with Silvergate to realize this shared vision.”

Alan Lane, CEO of Silvergate, said they are committed to the future of a US dollar stablecoin.

“We’re inspired by Diem’s technology and commitment to building a regulatory compliant payment system that offers a safe and secure way to move money,” said Lane.

The reversal by Diem represents a significant capitulation by the founders in a crypto project that stumbled out of the gate. Originally conceptualized by Facebook the outsized ambition of creating a non-sovereign global digital currency shocked global regulators and elected officials. The fact that Facebook is enduring intense scrutiny for its control of media distributed on its platform was no help in convincing policymakers of its altruistic goals. Some observers believe that Facebook/Diem’s retreat could have been predicted from the very beginning. Others view the move as a positive for the Diem group.

Ran Goldi, CEO of First Digital, who has built payment rails for the Diem currency commented:

“This is a really positive move for the Diem Association. They are finally getting much-needed clarity from regulators, and a clear path to securing regulatory approval, paving the way for the imminent launch of the currency in the US. This move from the US regulators demonstrates their ongoing commitment to embracing change and innovation, especially towards digital currencies. It totally makes sense for the Diem Association to become a US entity, issuing a US-based currency by a US-based bank. When it launches, we will be ready with our payments platform, to allow merchants to accept Diem as a means of payment.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175291-silvergate-capital-corporation-to-issue-diem-stablecoin-in-the-us/

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