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

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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/

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Akoin’s AKN Token Now on BitMart, Improves Access for African Users

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Akoin, a digital ecosystem and cryptocurrency developed by global artist and Akon to improve social opportunities and access for African entrepreneurs, is now listing on the cryptocurrency exchange BitMart.

The listing with BitMart provides access for Akoin within the United States from people who want to support Akoin and opens up access to many other African countries who were previously unable to access and utilize it. The development will also make Akoin available for trading in 10 additional countries where it was previously inaccessible: Burundi, Central African Republic, Egypt, Ethiopia, Guinea, Guinea-Bissau, Mali, Tunisia, and Uganda.

Trading began Sept. 17, and users can buy and sell the token using internationally available deposit options such as PayPal, Paxful, and Apple Pay. It also features sign-up processes uniquely designed for the African business environment. This extends Akoin coverage into an additional 11 African countries with access to buy and sell the Akoin token.

Akoin said is committed to bringing a more trusted digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services and the global economy. The Akoin ecosystem provides token holders with access to a wide range of dApps and apps, along with tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities.

The president and co-founder of Akoin, said the listing was an important step for the business.

“BitMart enables us to offer Akoin to a much larger number of people, including those in the United States and more broadly across Africa, which has been a goal for us,” Jon Karas said. “Listing on BitMart also creates more global awareness and liquidity for the Akoin token while bringing us even closer to realizing our vision of bringing greater opportunity and social connectedness to rising entrepreneurs who want to build, grow and develop their own businesses.”

Akoin has signed global partnerships they expect will increase utility of the AKN token, including the Mwale Medical and Technology City (MMTC) in western Kenya where it is being successfully used as the main currency and central payment platform for residents, workers and businesses, a move which has led to the ongoing roll out of AKN across Kenya.

Global expansion continues in Senegal and throughout the African continent through the growth of the Akoin Wallet and global exchange listings with Bittrex Global and BitMart, the company said.  

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

Source: https://www.crowdfundinsider.com/2021/09/180714-akoins-akn-token-now-on-bitmart-improves-access-for-african-users/

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Crowdfunding

Akoin’s AKN Token Now on BitMart, Improves Access for African Users

Published

on

Akoin, a digital ecosystem and cryptocurrency developed by global artist and Akon to improve social opportunities and access for African entrepreneurs, is now listing on the cryptocurrency exchange BitMart.

The listing with BitMart provides access for Akoin within the United States from people who want to support Akoin and opens up access to many other African countries who were previously unable to access and utilize it. The development will also make Akoin available for trading in 10 additional countries where it was previously inaccessible: Burundi, Central African Republic, Egypt, Ethiopia, Guinea, Guinea-Bissau, Mali, Tunisia, and Uganda.

Trading began Sept. 17, and users can buy and sell the token using internationally available deposit options such as PayPal, Paxful, and Apple Pay. It also features sign-up processes uniquely designed for the African business environment. This extends Akoin coverage into an additional 11 African countries with access to buy and sell the Akoin token.

Akoin said is committed to bringing a more trusted digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services and the global economy. The Akoin ecosystem provides token holders with access to a wide range of dApps and apps, along with tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities.

The president and co-founder of Akoin, said the listing was an important step for the business.

“BitMart enables us to offer Akoin to a much larger number of people, including those in the United States and more broadly across Africa, which has been a goal for us,” Jon Karas said. “Listing on BitMart also creates more global awareness and liquidity for the Akoin token while bringing us even closer to realizing our vision of bringing greater opportunity and social connectedness to rising entrepreneurs who want to build, grow and develop their own businesses.”

Akoin has signed global partnerships they expect will increase utility of the AKN token, including the Mwale Medical and Technology City (MMTC) in western Kenya where it is being successfully used as the main currency and central payment platform for residents, workers and businesses, a move which has led to the ongoing roll out of AKN across Kenya.

Global expansion continues in Senegal and throughout the African continent through the growth of the Akoin Wallet and global exchange listings with Bittrex Global and BitMart, the company said.  

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

Source: https://www.crowdfundinsider.com/2021/09/180714-akoins-akn-token-now-on-bitmart-improves-access-for-african-users/

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Shares in MoneyLion to Trade on NYSE on September 23rd as SPAC Deal Approved

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MoneyLion Inc., a neo-bank Fintech that reports over 2.8 users and an annualized net revenue run-rate of over $150 million, will commence trading on the New York Stock Exchange tomorrow (September 23, 2021) as the SPAC deal is approved. Following a special meeting yesterday of Fusion Acquisition Corp. the deal was certified and shares of MoneyLion will trade under the ticker ML.

Dee Choubey, co-founder and CEO of MoneyLion, said this was an incredible milestone for his company:

“Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”

As was previously reported, the MoneyLion deal has a valuation of around $2.4 billion.  The combination is expected to provide approximately $450 million in cash to the Fintech thus providing a fair amount of growth capital.

John James, CEO of Fusion, stated:

“The MoneyLion team has positioned the business extremely well for future scale, and this transaction provides them with ample growth capital to expand their already broad suite of products and services, both organically as well as through strategic acquisitions. We look forward to partnering with Dee and his talented management team during their next phase of growth.”

MoneyLion’s new board of directors will be comprised of ten directors, nine of whom are independent directors. Non-executive Chairman John Chrystal, vice chairman of The Bancorp, Inc., will lead the Board with MoneyLion’s directors including former Ambassador Dwight Bush Sr., Greg DePetris, Matt Derella, Jeff Gary, Lisa Gersh, Annette Nazareth, former SEC Commissioner, Michael Paull, and Chris Sugden. The current management team will remain in place.

MoneyLion offers many banking services in a digital environment in partnership with MetaBank and investing with DriveWealth, LLC. MoneyLion also offers crypto, powered by Zero Hash, a key offering for younger consumers.

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

Source: https://www.crowdfundinsider.com/2021/09/180716-shares-in-moneylion-to-trade-on-nyse-on-september-23rd-as-spac-deal-approved/

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Crowdfunding

Shares in MoneyLion to Trade on NYSE on September 23rd as SPAC Deal Approved

Published

on

MoneyLion Inc., a neo-bank Fintech that reports over 2.8 users and an annualized net revenue run-rate of over $150 million, will commence trading on the New York Stock Exchange tomorrow (September 23, 2021) as the SPAC deal is approved. Following a special meeting yesterday of Fusion Acquisition Corp. the deal was certified and shares of MoneyLion will trade under the ticker ML.

Dee Choubey, co-founder and CEO of MoneyLion, said this was an incredible milestone for his company:

“Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”

As was previously reported, the MoneyLion deal has a valuation of around $2.4 billion.  The combination is expected to provide approximately $450 million in cash to the Fintech thus providing a fair amount of growth capital.

John James, CEO of Fusion, stated:

“The MoneyLion team has positioned the business extremely well for future scale, and this transaction provides them with ample growth capital to expand their already broad suite of products and services, both organically as well as through strategic acquisitions. We look forward to partnering with Dee and his talented management team during their next phase of growth.”

MoneyLion’s new board of directors will be comprised of ten directors, nine of whom are independent directors. Non-executive Chairman John Chrystal, vice chairman of The Bancorp, Inc., will lead the Board with MoneyLion’s directors including former Ambassador Dwight Bush Sr., Greg DePetris, Matt Derella, Jeff Gary, Lisa Gersh, Annette Nazareth, former SEC Commissioner, Michael Paull, and Chris Sugden. The current management team will remain in place.

MoneyLion offers many banking services in a digital environment in partnership with MetaBank and investing with DriveWealth, LLC. MoneyLion also offers crypto, powered by Zero Hash, a key offering for younger consumers.

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

Source: https://www.crowdfundinsider.com/2021/09/180716-shares-in-moneylion-to-trade-on-nyse-on-september-23rd-as-spac-deal-approved/

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