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Mt Pelerin Holds its First General Assembly on Blockchain in Geneva Via its New Bridge Wallet Mobile Wallet

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On June 26th, Mt Pelerin, the Swiss Fintech expert in asset tokenization and digital compliance building, held its first general assembly in Geneva. Together with its shareholders and via its new Bridge Wallet mobile wallet, Mt Pelerin discussed its ongoing mission to provide digital solutions to democratize access to financial securities of unlisted companies. This may come as no surprise given the origin of the company’s name, which derive from the Mont Pèlerin Society. This was a group of brilliant economists and intellectuals advocating for an open society and economy driven by free market principles, personal and political liberty as well as freedom of expression.

More than 630 shareholders were able to participate the first general meeting of shareholders for Mt Pelerin’s 2019 financial year. Presentations from the board of directors were viewed via video streaming and votes were cast in a secure manner on various subjects submitted for approval. For example, “the amount of MPS tokens held by shareholders (in Bridge Wallet or elsewhere) determined the number of votes that they had (1 MPS token = 1 vote), and the yes/no votes made in Bridge Wallet were carried through blockchain transactions with the MPS token’s voting smart contract”. According to a recap of the meeting posted on the company’s website, presentations also included topics on: The MPS token, equity tokenization service, Quantum Vault developments, the company’s licensing and funding strategy, security token offering services and others.

Logistically, everything was run through the Fintech company’s Bridge Wallet mobile wallet – which was publically announced on its Twitter today. Moreover, the APP was specifically designed by Mt Pelerin to offer a simple and accessible way for all those implcated to interact with the company’s ongoings. Bridge Wallet not only makes it easy to acquire cryptocurrencies by bank transfer, but it can be used to buy, sell and manage assets such as investment tokens.

This real-life demonstration to shareholders reinforced Mt Pelerin’s committment to managing blockchain securities.  Thanks to Bridge Wallet, “any company can now issue shares and bonds that comply with the law and distribute them globally, instantly and at low cost” the Fintech company stated in a recent press release.  The management of these securities (compliance, transfers, digital meetings and payment of dividends, etc.) is then carried out through the cockpit provided by Mt Pelerin for the issuer, and through Bridge Wallet for the investors. Hence, this provides a real and feasible alternative to the stock market for issuing, distributing and managing securities at considerably lower costs.

In the meeting, Mt Pelerin also unveiled their plans for 2020 and beyond. The most important seemed to be obtaining the new Fintech license from FINMA, the Swiss banking regulatory authority, which serves as a stepping stone with a view to obtaining later a full banking license later on. Such a license would enable Mt Pelerin to accept deposits from the public up to a maximum amount of 100 million Swiss francs (approximately $105 million USD or £85 million GBP) . With much lighter requirements than a full banking license, a Fintech license will allow Mt Pelerin to offer its revolutionary banking ecosystem much more quickly to the general public and to continue its promising trajectory.

Source: https://www.crowdfundinsider.com/2020/07/163611-mt-pelerin-holds-its-first-general-assembly-on-blockchain-in-geneva-via-its-new-bridge-wallet-mobile-wallet/

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AvidXchange Announces New “Tech Rising” Initiative to Remove Barriers to Technology Education

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AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Friday it has launched Tech Rising, an initiative spearheaded by the AvidXchange Foundation that aims to remove barriers to technology education and resources for youth and young adults.

According to AvidXchange, the initiative kick starts the AvidXchange Foundation’s strategic focus on bridging the digital divide in Charlotte, North Carolina by providing tools and opportunities to middle and high school students, including the STEAM and essential skills programming necessary to succeed in a digital world.

“Over the next three years, AvidXchange has committed to closing the technology gap in Charlotte by distributing refurbished laptops with internet access to 5,000 students, working with 16,000 students in Title I middle schools to provide STEAM curriculum and helping 8,000 students in Title I high schools develop critical career skills.”

Speaking about the initiative, Michael Praeger, CEO and Co-Founder of AvidXchange, stated that removing barriers to technology education and careers starts as part of a student’s education before submitting a resume or filling out a college application. He further explained:

“Through the AvidXchange Foundation, we are chipping away at the technology barriers to bridge the digital divide and help create economic mobility for youth and young adults in our community.”

Founded in 2015, the AvidXchange Foundation was created in response to helping elementary school students who were impacted by Hurricane Katrina. In 2019, the Foundation supported more than 150 philanthropic events.

Source: https://www.crowdfundinsider.com/2020/08/165288-avidxchange-announces-new-tech-rising-initiative-to-remove-barriers-to-technology-education/

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Mastercard Announces Global Commercial Partnership With Pollinate

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Mastercard announced on Friday it has formed a global commercial partnership with merchant software platform, Pollinate. Through the collaboration, the duo will reportedly bring the latest technology and data insights to banks serving small and medium businesses around the world. In a statement, the companies shared:

“Both Mastercard and Pollinate recognise the importance of small and medium businesses (SMEs) to communities and economies around the world.  With SMEs accounting for 90% of businesses and 50% of employment worldwide, supporting them is even more crucial after Covid-19. Central to this support is the ability for SMEs to access the digital tools and payment solutions that will enable them to survive and thrive.”

While sharing details about the partnership, Zahir Khoja, Executive Vice President of Merchants Solutions and Partnerships at Mastercard, stated that the work with Pollinate, as well as the wider issuer and acquirer solutions ecosystem, supports Mastercard’s collective goal to offer digital payment solutions for small and medium-size businesses to deliver a seamless experience for their customers in a time of need. Alastair Lukies CBE, Founder & CEO of Pollinate, concluded:

“With SMEs being the cornerstone of the global economy and providing half the world’s jobs, supporting their growth and recovery has never been more important.  Both Pollinate and Mastercard are passionate about working with banks to bring SMEs best in class services. Mastercard has demonstrated a long commitment to SMEs, and we are honored to deepen our partnership.”

The partnership with Mastercard comes less than a year Pollinate launched its platform. As previously reported, Pollinate is led by a team of experienced executives from the payments, technology and loyalty sectors. Pollinate noted that its platform allows a bank to enter acquiring, or transform their existing business without changing their underlying infrastructure.  Banks can offer their merchants digital onboarding, and a portal that acts as a central hub of a merchant’s business. 

Source: https://www.crowdfundinsider.com/2020/08/165287-mastercard-announces-global-commercial-partnership-with-pollinate/

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UK’s Federation of Small Businesses Says Next Budget Must be “Most Pro-Business Ever” to Combat Negative Effects of First Recession in 11 Years

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The next or upcoming UK Budget will have to be the “most pro-business ever” so that it can counter the negative impact of the recession, according to the Federation of Small Businesses (FSB), a member-led, non-profit and non-party organization that represents SMBs.

The United Kingdom is now in a recession due to the COVID-19 outbreak, which has slowed down the economies of almost every country across the globe. This is notably the first time that the UK has experienced a recession in 11 years. The nation’s economy contracted by 20.4% between Q1 and Q2 2020.

Mike Cherry, the national chairman of the UK’s small business lobby group, noted that any planned policy changes must focus on creating more jobs. Proposed policies should also aim to support growth while boosting overall productivity, Cherry recommended.

Cherry said that the UK needs the “most pro-business, pro-self-employed” Budget ever. It should focus on reducing the costs of “innovating and bringing great goods and services to market and eschews tax rises,” Cherry noted.

He added that there have been some “welcome measures to aid business survival and job retention.” However, he suggested that the UK government should now introduce policies or measures to support local businesses and also try to create more job opportunities.

Cherry recommends reducing employer national insurance contributions, more investments focused on infrastructure development, and taking most smaller companies out of the business rates system.

He also thinks it would help if businesses did not have to return their bounce back loans until they’ve become profitable. He revealed that over a million companies have received bounce back loans so that they can maintain operations during the COVID-19 pandemic.

Cherry believes firms will feel more comfortable if they get a guarantee that they won’t have to start paying back loans until they’re making profits. He thinks that if they are not burdened right now with paying back loans, then they will be more focused on expanding their operations, instead of trying to hoard cash during these uncertain times.

Emergency COVID-19 funding or financial relief for companies in the UK will reportedly go back to the Treasury at the end of this month if it’s not claimed.

About four months after £12 billion in Coronavirus related funding was approved to help UK businesses, £1.5 billion still remains unclaimed.

The FSB recently cautioned that the capital was just sitting in councils’ bank accounts. The UK government confirmed that it’s currently working cooperatively with councils in order to reach out to qualified businesses.

Source: https://www.crowdfundinsider.com/2020/08/165249-uks-federation-of-small-businesses-says-next-budget-must-be-most-pro-business-ever-to-combat-negative-effects-of-first-recession-in-11-years/

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