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SDAX Gets Go-Ahead to Operate as Digital Asset Exchange From MAS

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SDAX announced that it has obtained its Recognised Market Operator (RMO) license from the Monetary Authority of Singapore to operate a digital asset exchange.

Founded and headquartered in Singapore, SDAX is an institutional grade digital asset exchange.

It leverages blockchain technology to enable asset owners to unlock the value of their assets through tokenising and listing of asset-based digital securities, providing alternative fundraising and exit options.

As a secondary market trading platform, SDAX enhances efficiency, creates liquidity and offers greater access to previously out-of-reach alternative investment products for accredited and institutional investors.

The firm said that its first priority is to focus on the real estate market where it already has a live deal flow ready for security tokenisation.

SDAX is geared towards the launch of its first real estate token listing in 2021.

Additionally, the company will expand its regional footprint as well as its digital financial product offerings to include ETFs, equities, bonds, and derivatives in both the traditional and new economy asset classes.

In May 2021, SDAX entered into an agreement to merge with Minterest to create SDAX Financial, an integrated digital financial services platform.

This aims to cement the strategic intent and fuels the acceleration of the businesses combining both the capabilities and strengths to build a true digital asset ecosystem.

Khoo Boon Hui, Chairman of SDAX

Khoo Boon Hui

Khoo Boon Hui, Chairman of SDAX said,

“We believe SDAX is well positioned to open new possibilities for asset owners and investors in the fast-growing digital asset economy given the increasing demand for alternative investments.

We have trusted technology to tokenise almost any asset class, including both tangible and intangible assets and an efficient, reliable and secure platform to trade such digital assets with greater liquidity,”

Image credits: Edited from Unsplash

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Source: https://fintechnews.sg/55382/blockchain/sdax-gets-go-ahead-to-operate-as-digital-asset-exchange-from-mas/

Fintech

Deals and dollars: European fintechs land $1.7B in funding rounds

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European fintechs fared well in funding rounds this week, with neobank N26 nabbing $900 million and banking infrastructure company Euroclear collecting $824.5 million. N26’s series E funding round brought the bank’s valuation to more than $9 billion. Third Point Ventures and Coatue Management led the funding round for the Berlin-based bank, and were joined by […]

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Source: https://bankautomationnews.com/allposts/retail/deals-and-dollars-european-fintechs-land-1-7b-in-funding-rounds/

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Umpqua focuses on ‘human-digital’ banking strategy amid merger

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Umpqua Bank is cultivating its “human-digital” strategy as it approaches a partnership with Tacoma, Wash.-based Columbia Bank that will boost its market share on the West Coast. “Our human-digital initiatives remain critical to our long-term strategy as our customers continue to engage with us through digital channels at an accelerated pace,” Cort O’Haver, president and […]

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Source: https://bankautomationnews.com/allposts/retail/umpqua-focuses-on-human-digital-banking-strategy-amid-merger/

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Klarna Adds Online Trip Planning with Inspirock Acquisition

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Does COVID have you dreaming up your long-awaited vacation? Consumer payment services firm Klarna’s latest acquisition may be of help.

The Sweden-based company snapped up Inspirock, an online trip planning service, for an undisclosed amount. Klarna CEO and Co-Founder Sebastian Siemiatkowski described the addition of travel planning “a natural extension of the benefits Klarna brings to payments and shopping.”

Founded in 2012, Inspirock leverages AI to help its customers explore a destination’s offerings and create personalized itineraries utilizing local expertise. On an annual basis, the California-based company sees 25+ million customers each year.

The integration will allow Klarna’s 90 million customers to use the Klarna app to pay for a trip in installments. In addition to the payment aspect, Klarna will also help users plan for their trip. Inspirock matches travelers’ preferences with over 230 million data points to optimize their travel itinerary and discover hidden gems.

“For customers, this makes the whole journey from inspiration to planning and preparing for a trip simpler, less stressful, and more fun, while enabling our retail partners to better reach and engage with their audiences by offering more personalized content,” said Siemiatkowski.

Combining travel planning with its existing payment capabilities inches Klarna towards becoming more like a super app. Founded in 2005 and with $3.7 billion in funding, Klarna offers buy now, pay later options to help users avoid credit cards while enjoying payment flexibility. Klarna also offers a shopping app to provide users with a holistic shopping experience– from payments to shipment tracking– and a rewards club it describes as the “vibeyest community in shopping.”


Photo by JESHOOTS.COM on Unsplash

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Source: https://finovate.com/klarna-adds-online-trip-planning-with-inspirock-acquisition/

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Finastra partners with Bakkt to offer crypto services to community banks, credit unions  

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Financial services software provider Finastra has tied up with Atlanta-based crypto exchange Bakkt to offer digital asset trading solutions and services to community banks and credit unions. The partnership will let smaller financial institutions enable customer access to a digital asset marketplace and wallet services offered by Bakkt, the two firms announced last week. Bakkt, […]

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Source: https://bankautomationnews.com/allposts/crypto-defi/finastra-partners-with-bakkt-to-offer-crypto-services-to-community-banks-credit-unions/

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