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DBS, SGX, StanChart and Temasek Tackles Climate Action With Global Carbon Exchange

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DBS, Singapore Exchange (SGX), Standard Chartered and Temasek joined forces to take climate action through a joint venture Climate Impact X (CIX) which aims to be a global exchange and marketplace for high-quality carbon credits.

CIX will offer distinct platforms and products that cater to the needs of different buyers and sellers of carbon credits which include the Exchange and the Project Marketplace, which are expected to be launched by end 2021.

The exchange will facilitate the sale of large-scale high-quality carbon credits through standardised contracts catering primarily to multinational corporations (MNCs) and institutional investors.

CIX will leverage satellite monitoring, machine learning and blockchain technology to enhance the transparency, integrity and quality of carbon credits.

Headquartered in Singapore, CIX will leverage the country’s financial, legal and commodities hub infrastructures for a trusted ecosystem of partners required to scale the global voluntary market.

Additionally, the Project Marketplace will cater to a broader spectrum of corporates seeking to participate in the voluntary carbon market, offering them a curated selection of Natural Climate Solutions (NCS) projects that can help meet their sustainability objectives.

To start with, CIX will focus on helping to catalyse the market for NCS, which involve protection and restoration of natural ecosystems such as forests, wetlands and mangroves.

The joint venture will be guided by an International Advisory Council, an independent expert body comprising non-governmental organisations, leading corporates and project developers, and academics and thought leaders.

CIX will also work with an ecosystem of global partners and international working groups, including the Taskforce on Scaling Voluntary Carbon Markets (TSVCM) and the Natural Climate Solutions Alliance, to align on leading standards for quality and integrity.

DBS, SGX, Standard Chartered and Temasek said in a joint statement that climate action is a key priority for them and they are confident that Climate Impact X will play a critical role in aligning the planet’s emissions profile to a net-zero future.

Singapore has been supportive of initiatives that strengthen the trust and verifiability of carbon credits, as part of the nation’s ambition to become a global carbon services and trading hub.

CIX is an initiative born out of Singapore’s Emerging Stronger Taskforce’s Alliance for Action (AfA) on Sustainability. The AfA on Sustainability aims to position Singapore as a hub for carbon related services and nature-based solutions, transforming the country into a “Bright Green Spark”.

Mikkel Larsen, Interim CEO of Climate Impact X and Chief Sustainability Officer at DBS

Mikkel Larsen

Mikkel Larsen, Interim CEO of Climate Impact X and Chief Sustainability Officer at DBS, said:

“Climate Impact X will provide a solution for corporates to address unavoidable carbon emissions in the near term and propel the development of new carbon credit projects worldwide.

With an initial focus on Natural Climate Solutions, the carbon credits will also create impetus to address another grave risk of biodiversity loss and help serve local communities. CIX will build on collective action by global governments, corporates and individuals to achieve a net-zero economy.”

Featured image credit: Edited from Unsplash

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Source: https://fintechnews.sg/51274/fintech/dbs-sgx-stanchart-and-temasek-tackles-climate-action-with-global-carbon-exchange/

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Chilean Fintechs Secure Millions; EBANX and Amazon Forge Payments Partnership

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Fintech companies from Chile made headlines this week, taking their rightful place alongside the innovators in neighboring countries like Brazil, Colombia, and Mexico, which have tended to dominate conversations about the surge in financial technology in Latin America in recent years.

Xepelin, a Chilean company that offers a financial services platform designed especially for small businesses, raised $30 million in equity along with another $200 million in debt facilities. The equity financing was led by Kaszek Ventures, a Latin American VC fund, and featured participation from DST Global and a number of angel investors. The company’s debt facility were provided by asset managers and hedge funds based in Latin America as well as the U.S.

Xepelin focuses on enabling small businesses to secure organize their financial data in real time, as well as apply for – and receive – short-term financing easily and quickly. The company says that SMEs can apply for working capital loans “with three clicks” and receive their funding “in a matter of hours.”

With a monthly growth rate of 30%, Xepelin said it has more than 4,000 clients in Mexico and Chile, and has loaned more than $400 million to small businesses in those countries. The company said that the new capital will help it ensure that all small businesses in Latin America will have access to both financial services and financial capital. Xepelin also noted that it is looking to expand beyond the B2B space to provide a broader range of services to small businesses and companies in the region.


Helping employers improve the financial health of workers is the mission of Quansa, another Chilean fintech that raised $3.6 million in new capital this week. Quansa combines financial education with financial management tools to give companies in Chile the ability to offer their employees a more holistic benefits package. Quansa’s platform provides personalized financial guidance, access to flexible salaries, and debt management resources to more than 2,000 workers currently.

The seed funding round was led by Valor Capital Group and featured participation from Pear VC, Norte, Magma Partners, Sequoia Scouts, as well as a number of angel investors.

Quansa co-founder Mafalda Barros pointed to the challenge of debt that many Chilean workers struggle with, and noted that 70% of workers say that they feel as if they have little control over their finances. “It’s just as important to understand how to manage your money as it is to have access to these services,” Barrros said. “We teach users how to organize and manage their bills, use financial tools, start saving and, of course, to spend better.”


Not all big fintech headlines out of Latin America were related to funding and venture capital. EBANX, a payments solution provider based in Brazil, and Amazon have teamed up to enable Amazon Prime Video customers in Peru to subscribe to the service and make payments in local currency rather than in U.S. dollars.

“Localized solutions deeply improve the online purchasing experience for Peruvians and all Latin Americans, helping them to access the best services around the world – in addition to broadening the total addressable market of companies in the LatAm region,” EBANX co-founder and CEO João Del Valle said. “And this two-way street of access is precisely what we work for everyday at EBANX. That is why we are very excited about this collaboration with Amazon Prime Video in Peru.”

Founded in 2012, EBANX is among the leading payment platforms in Latin America. The company offers more than 100 local payment methods and brought access to financial products and services to more than 70 million Latin Americans. Last month, the company secured $430 million in funding from Advent International. This spring, EBANX launched operations in Central America, expanding its total reach to 15 countries. The company has said it plans to offer shares to the public via IPO “in the coming months.”


Here is our look at fintech innovation around the world.

Central and Southern Asia

Latin America and the Caribbean

Asia-Pacific

Sub-Saharan Africa

Central and Eastern Europe


Photo by Alisha Lubben from Pexels

The post Chilean Fintechs Secure Millions; EBANX and Amazon Forge Payments Partnership appeared first on Finovate.

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Source: https://finovate.com/chilean-fintechs-secure-millions-ebanx-and-amazon-forge-payments-partnership/

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Movers and Shakers: Finastra hires new payments lead, Credit Suisse onboards tech chief

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Banking core provider Finastra, Credit Suisse and Automation Anywhere announced new senior executive hires this month. Bank Automation News offers a wrap-up of some recent industry staffing shuffles. Finastra taps Marmur to lead payments division Financial technology and enterprise software provider Finastra has hired Oren Marmur as general manager of payments. Based in Israel, Marmur’s […]
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Source: https://bankautomationnews.com/allposts/corp-bank/movers-and-shakers-finastra-hires-new-payments-lead-credit-suisse-onboards-tech-chief/

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Listen: How the FDIC and Duke University drive bank innovation

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In a strategic partnership to support technological innovation in the banking and financial services sectors, the Federal Deposit Insurance Corporation (FDIC) and Duke University’s Pratt School of Engineering recently announced an agreement to collaborate on artificial intelligence, risk management, quantitative research and cybersecurity at the FDIC and U.S. banks. In this episode of “The Buzz” […]
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Source: https://bankautomationnews.com/allposts/secur-risk/listen-how-the-fdic-and-duke-university-drive-bank-innovation/

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State Street to offer crypto services to private-fund clients

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State Street Corp. is set to offer cryptocurrency reporting, reconciliation and processing services to its private-fund clients in the latest sign that digital assets are gaining acceptance on Wall Street. The firm is partnering with Lukka Inc., a provider of middle- and back-office crypto software, for the fund-administration services, State Street said in a statement […]
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Source: https://bankautomationnews.com/allposts/wealth/state-street-to-offer-crypto-services-to-private-fund-clients/

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