Connect with us

Fintech

MAS Earmarks US$1.8 Billion for Its Sustainability Efforts

Published

on

The Monetary Authority of Singapore (MAS) will be allocating US$1.8 billion into climate-related investment opportunities which was announced during the launch of its inaugural sustainability report.

The funds will be managed by five asset managers, who are yet to be named, under MAS’ Green Investment Programme (GIP) to oversee the new equity and fixed income mandates focused on climate change and the environment.

The GIP was first announced in November 2019 at the Singapore Fintech Festival.

The asset management firms appointed under the GIP will establish their Asia Pacific sustainability hubs in Singapore and launch new ESG thematic funds for the Asia Pacific region.

The GIP will help to enhance the climate resilience of the OFR, attract sustainability-focused asset managers to Singapore, and catalyse funding towards environmentally sustainable projects in Asia and beyond.

MAS said in a statement that it will expect its external fund managers to be more active stewards of the companies they invest in, particularly on climate-related matters by exercising their shareholder rights to address climate risks and shift towards more sustainable practices.

The regulator has been actively promoting green fintech by earmarking S$50 million to support innovations in the space. Additionally, MAS has launched Project Greenprint, a technology platform to support the green finance ecosystem together with the industry.

The project will identify use cases where technology can help to mobilise capital for green projects, monitor commitments to emissions reductions, and quantify the impact of abatement efforts.

In line with MAS’ bid to support initiatives to foster efficient markets to trade carbon credits, DBS Bank, SGX, Temasek, and Standard Chartered announced plans to launch Climate Impact X, an international marketplace for high-quality carbon offsets generated from nature-based solutions in Southeast Asia.

Ravi Menon

Ravi Menon

Ravi Menon, Managing Director at MAS said,

“Just as MAS holds the financial sector to account for its efforts to support a green economy, MAS believes it too is accountable for the financial sector’s progress and its own efforts in facilitating a lower carbon future.

This inaugural Sustainability Report brings together the efforts that MAS is undertaking through its different roles to contribute towards a climate resilient and environmentally sustainable world. We aim to lead by example, and we hope that financial institutions in Singapore and Asia will follow.”

The full MAS Sustainability Report is available here.

Print Friendly, PDF & Email

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://fintechnews.sg/51679/fintech/mas-earmarks-us1-8-billion-for-its-sustainability-efforts/

Fintech

Elon Musk discusses merits of Bitcoin, reveals Space X holds BTC

Published

on

Billionaire Tesla CEO Elon Musk discussed Bitcoin during a live-streamed session of The ₿ Word event, saying that he supports and holds the original cryptocurrency, as does his aerospace company SpaceX.

“[Bitcoin] has an open ledger, which is quite good. But transaction volume is low, transaction cost is high and usability for the average person is not yet very good but has a lot of potential,” Musk said, while wearing a t-shirt that touted Bitcoin as the pinnacle of monetary evolution. “But on balance I support Bitcoin… I do own bitcoin and Tesla owns bitcoin, SpaceX owns bitcoin.

Musk has made mixed public statements about Bitcoin in the past, calling himself a supporterseeing Tesla purchase $1.5 billion worth of BTCrenouncing the ability for Tesla customers to make purchases in bitcoin over misguided environmental concerns, then walking those statements back somewhat. He is an outspoken supporter of the altcoin project Doge.

During the panel, Musk continued to tout alternative cryptocurrency projects like Ethereum and Doge, but also acknowledged that Bitcoin’s throughput and scalability could be improved via Layer 2 platforms like the Lightning Network. He noted that Tesla is likely to resume bitcoin payments as a higher proportion of miners utilize renewable energy sources.

“Bitcoin with a Layer 2 system could scale to do a vast number of transactions,” Musk said. “I want to do a little more diligence to confirm that the percentage of renewable energy usage [in bitcoin mining] is most likely at or above 50% and that there is a trend toward increasing that number, and if so Tesla will resume accepting bitcoin… Most likely, Tesla would resume accepting bitcoin.”

He also noted that the only significant assets he personally owns consist of stock in his companies, bitcoin, ether and doge, with bitcoin being the largest and most profitable of his cryptocurrency holdings.

“If the price of bitcoin goes down, I lose money… I might pump, but I don’t dump,” Musk said. “SpaceX, Tesla and I own bitcoin… The companies just own bitcoin and the bitcoin I own is worth much more than the Ethereum or Doge.”

Musk was joined in the session, “Bitcoin As A Tool For Economic Empowerment,” by Twitter and Square CEO Jack Dorsey, ARK Investment Management CEO Cathie Wood and Square Crypto Lead Steve Lee, who moderated it.

Dorsey, who has been more consistently favorable toward Bitcoin in his public statements and work, highlighted Bitcoin’s transformative nature as a currency that is global, permissionless and native to the internet.

“When I saw Bitcoin in 2009, you see a chance to replace the whole foundation,” Dorsey explained. “It really just opens the aperture and that is what I want to see in my lifetime, is a currency that is standard and sound for the internet that everyone can use.”

Wood, whose firm has been stockpiling bitcoin exposure this month, emphasized bitcoin’s current value propositions from an investment standpoint and the remarkable economic outlook of its development community.

“The store of value is a very big role, and means of exchange with apps built on top of the Bitcoin blockchain, we think are going to become more of a reality,” Wood said, describing where her positive outlook on BTC as an investment comes from. 

“I’ve had the honor of meeting Bitcoin Core developers,” she added later. “They know economic history better than anyone I’ve ever met.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.fintechnews.org/elon-musk-discusses-merits-of-bitcoin-reveals-space-x-holds-btc/

Continue Reading

Crowdfunding

Payments Fintech Banking Circle Chooses European Firm SIA to Provide Instant Payments

Published

on

Banking Circle, the Payments Bank for the digital economy, has chosen SIA, an established European hi-tech firm in payment services and infrastructures, controlled by CDP Equity, in order to introduce its instant payments service in Europe “connecting to the TARGET Instant Payment Settlement (TIPS) service of the Eurosystem.”

As stated in the announcement:

“Thanks to SIAnet, the ultra-fast fiber optic network infrastructure, Banking Circle enables European financial institutions and corporates to execute instant payments in less than 10 seconds with a maximum amount currently set at 100,000 euros per individual transaction, 24/7, all year long, in line with the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).”

The partnership with SIA will also enable Banking Circle clients to take advantage of the concession granted by the European Central Bank to SIA and Colt as Network Service Providers for ESMIG (Eurosystem Single Market Infrastructure Gateway).

The announcement further noted:

“Beyond TIPS, SIAnet enables all the key organizations in the European financial system to access also the platform for the settlement of large-value payments TARGET2, the securities settlement platform TARGET2-Securities (T2S), the Eurosystem Collateral Management System (ECMS), and possibly other new services and applications.”

The high-speed, secure and low-latency network infrastructure SIAnet is developed to address the requirements of instant payments “in terms of security, reliability and performance and it represents a single access channel to the main national and international payment platforms, also including EBA Clearing’s pan-European real-time payment system RT1.”

Michael Boel, Head of Local Clearing, Banking Circle, remarked:

“Banking Circle is making cross border payments faster and more cost effective for Banks and Payments businesses, in turn enhancing the service they provide to their customers. Instant Payments is a crucial part of this and we are delighted that our partnership with SIA enables us to connect to the TIPS platform via our cloud solution.”

Michael added that they believe that being the first bank to use SIA’s network and Cloud integration options “sends a clear message that [they] are committed to getting as close as possible to central banks, Automated Clearing Houses and Clearing and Settlement Mechanisms.”

He further noted that through the partnership with SIA, Banking Circle will “deliver Instant Payments at the lowest cost possible and at the highest level of stability for our clients, and their customers.”

Cristina Astore, SIA’s Northwest Europe and DACH Region Sales Director, stated:

“Thanks to the perfect integration of our network with the major public cloud providers on the market, the new digital payment service was up and running in just a few months and is now available for all current and future Banking Circle customers.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178253-payments-fintech-banking-circle-chooses-european-firm-sia-to-provide-instant-payments/

Continue Reading

AI

Fintech Giant Zip Co to Provide Cryptocurrency Trading Services

Published

on

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit.

According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy.

The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap … You will work closely with teams across Amazon, including AWS, to develop the roadmap, including the customer experience, technical strategy and capabilities as well as the launch strategy.

What Amazon is Looking For

The expert must have at least an MBA or equivalent degree, 10+ years of business or technology experience, team management skills, understanding of data and metrics, and good communication skills.

The corporation did not disclose any salary offer. The person must be based on or willing to move to Seattle, Washington.

Amazon seems to be convinced of the need to innovate in the field of payments and finance. The cryptocurrency and blockchain development team is a sign of the company’s interest in exploring these emerging technologies to offer better financial products.


ADVERTISEMENT

According to an email shared by Business Insider, Amazon’s team confirmed its interest in exploring an approach to the world of cryptocurrencies. Still, they did not specify whether it would be through the development of a proprietary currency or through the acceptance of cryptocurrencies as a means of payment:

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon … We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

An Old Relationship With Crypto

Amazon’s interest in the world of cryptocurrencies isn’t new. Back in 2017, it purchased, at least preemptively, a number of domains linking its brand to cryptocurrencies, including amazoncryptocurrency.com, amazoncryptocurrencies.com, and even amazonethereum.com.

However, at the time, Patrick Gauthier told CNBC that the e-commerce giant did not have much interest in cryptocurrencies and had no plans to support crypto payments.

In fact, the Pay With Moon plugin that allowed payments on Amazon with Bitcoin through Lightning Network had to change its business model to instead allow its users to purchase virtual credit cards instead of paying directly on Amazon’s site.

Also, as Cryptopotato reported in February this year, Amazon launched a job offer for a new payments system involving “Digital and Emerging Payments (DEP),” although they did not mention a direct relationship with Bitcoin or any cryptocurrency either.

This time, however, Amazon seems more willing to go public with its casual relationship with cryptos.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24/?utm_source=rss&utm_medium=rss&utm_campaign=fintech-giant-zip-co-to-provide-cryptocurrency-trading-services-24

Continue Reading

AI

Blockchain Startups Raised over $4 Billion in VC Funding in Q2 2021

Published

on

Most blockchain-based startups have seen funding from venture backers, despite the current cryptocurrency market downturn, recording over $4 billion in Q2 alone.

This massive venture capital backing is in keeping with the established trend of VC funding for blockchain firms as investors look to be part of the new wave of disruption associated with decentralized finance.

VC Backers Continue to Dole Out Funding for Blockchain Startups

According to CNBC on Thursday (July 22, 2021), venture capital investors seem not to worry about the volatile nature associated with the crypto market, especially with the current slump in market prices. Bitcoin, which reached an all-time high )ATH) of over $63,000 back in April, is trading within the $33,000 range, losing over 50% of its ATH. Ether price has also suffered a slump after getting to over $4,000 in May.

Meanwhile, data from CB Insights, an analytics firm, revealed that the total funds received by different blockchain companies are $4.38 billion. The figure signals a more than 50% increase from Q1 2021, and almost a ninefold growth compared to Q2 2020.

In May, major fintech company Circle received $440 million from VC backers, making it the largest venture capital funding in a blockchain company. Meanwhile, Circle is planning to go public through an alliance with a special purpose acquisition company (SPAC) Concord Acquisition Corp. The merger, if successful, will put Circle’s valuation at $4.5 billion.


ADVERTISEMENT

Ledger, a cryptocurrency hardware wallet, raised the second-biggest round in Q1 2021 with $380 million. According to an interview with CNBC in December 2020, the company’s CEO Pascal Gauthier noted that the cryptocurrency market was gradually maturing, with institutional investors showing interest in the emerging industry.

Speaking to CNBC, CB Insights senior analyst, Chris Bendtsen :

“At the current rate, blockchain funding will shatter the previous year-end record — more than tripling the total raised back in 2018. Blockchain’s record funding year is being driven by the rising consumer and institutional demand for cryptocurrencies. Despite short-term price volatility, VC firms are still bullish on crypto’s future as a mainstream asset class and blockchain’s potential to make financial markets more efficient, accessible, and secure.”

Institutional Investors Seek Exposure to Crypto Industry

The record inflow of funding for blockchain firms is coming from both traditional VC funds and blockchain-focused funds alike. Some asset managers are even creating blockchain venture arms for both early and late-stage funding of projects in the industry.

As previously reported by CryptoPotato in June, venture capital giant Andreessen Horowitz announced the launch of a $2.2 billion cryptocurrency fund. According to the company, the new fund would be distributed across various crypto and blockchain startups.

Blockchain Capital raised $300 million for its Fund V LP back in May, with PayPal, Visa. hedge funds, and others participating in the capital raise.

Meanwhile, the trend is continuing in Q3 2021 with massive funding deals. Recently, major cryptocurrency derivatives platform FTX secured a record $900 million in its Series B funding, causing the company’s valuation to grow to $18 billion.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/blockchain-startups-raised-over-4-billion-in-vc-funding-in-q2-2021-10/?utm_source=rss&utm_medium=rss&utm_campaign=blockchain-startups-raised-over-4-billion-in-vc-funding-in-q2-2021-10

Continue Reading
Esports4 days ago

How to reduce lag and increase FPS in Pokémon Unite

Esports5 days ago

Coven skins for Ashe, Evelynn, Ahri, Malphite, Warwick, Cassiopeia revealed for League of Legends

Esports5 days ago

Will New World closed beta progress carry over to the game’s full release?

Esports4 days ago

How to add friends and party up in New World

Esports5 days ago

Can you sprint in New World?

Esports4 days ago

How to claim New World Twitch drops

Esports4 days ago

Twitch streamer gets banned in New World after milking cow

AR/VR4 days ago

Moth+Flame partners with US Air Force to launch Virtual Reality sexual assault prevention and response training

Blockchain5 days ago

Rothschild Investment Purchases Grayscale Bitcoin and Ethereum Trusts Shares

Blockchain5 days ago

Uniswap (UNI) and AAVE Technical Analysis: What to Expect?

Esports5 days ago

Konami unveils Yu-Gi-Oh! Master Duel, a digital version of the Yu-Gi-Oh! TCG and OCG formats

Esports4 days ago

How to change or join a new world in New World

Esports5 days ago

Best Akshan builds in League of Legends

Esports4 days ago

How to turn off and on PvP in New World

Esports12 hours ago

Who won Minecraft Championships (MCC) 15? | Final Standings and Scores

Esports5 days ago

Here are all the servers in the New World closed beta

Esports5 days ago

Overwatch League 2021 Grand Finals to be held in Los Angeles, playoff bracket in Dallas

Esports5 days ago

Team BDS adds GatsH to VALORANT roster as sixth man before EU Stage 3 Challengers 2

Blockchain5 days ago

NexWEB Technologies Chooses Butterfly Protocol for Powering its Blockchain Domain-Based NFT Platform

Gaming5 days ago

Why Is It Better to Play Slots Using Cryptocurrency?

Trending