The Getaway has been a dormant PlayStation franchise for years, but fans have kept its memory - and hope for its comeback - alive ever since.

DALLAS, TX, Jan 27, 2022 - (ACN Newswire) - Trintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, expands its partnership with Microsoft by announcing its newest integration into Microsoft Dynamics 365 Business Central. This expanded partnership makes Trintech's Adra Suite the only financial close solution with a certified Microsoft Dynamics 365 Business Central Connector and builds upon its already existing portfolio of Microsoft Connectors to support any Microsoft Dynamics customer regardless of version, past or present and on-premise or in the cloud.

With Microsoft playing a central operations role for thousands of companies, older versions of AX, Navision (NAV), Solomon, and Great Plains remain the daily lifeblood of these companies. Trintech integrates into every Dynamics version to enable current operations, while also providing for the future as organization's migrate to newer Dynamics platforms.

"We are excited to announce our expanded partnership with Microsoft with the addition of our certified Microsoft Dynamics 365 Business Central connector," said Darren Heffernan, President, Mid-Market at Trintech. "This additional integration builds upon our previous integration into Microsoft Dynamics 365 F&O and now positions our Adra Suite as the 'go to' financial close solution for Microsoft Dynamics customers. This partnership will provide customers with one seamless experience that will increase efficiency and accuracy while simultaneously reducing the cost and risk across their financial close process."

Just a few of the many benefits finance & accounting departments will gain include:
- Visibility across all tasks in the financial close process
- Control and automation of reconciliations
- Shortened close cycle through efficiency gains
- Automated notifications of balance changes throughout the close
- Reduction in write-offs

Currently deployed by over 1,800 clients across the globe, the Adra Suite provides cloud-based, financial close and reconciliation solutions for companies looking to quickly increase the efficiency, control and visibility for all key areas of the financial close process including: balance sheet reconciliations (Adra Balancer), transaction matching (Adra Matcher), financial task management and controls (Adra Task Manager), and reporting (Adra Analytics).

Learn more about Trintech's integrations into Microsoft Dynamics 365 Finance and Microsoft Dynamics 365 Business Central.

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance - Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide - including the majority of the Fortune 100 - rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Germany, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and the Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kelli Shoevlin
Public Relations Manager
Kelli.Shoevlin@trintech.com

SOURCE: Trintech Inc.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTrintech, a leading global provider of integrated Record to Report software solutions for the Office of Finance, expands its partnership with Microsoft by announcing its newest integration into Microsoft Dynamics 365 Business Central.

A BA In MMJ? How American Universities Are Attracting New Students With Marijuana Degrees

Colleges and universities across America are adding cannabis-based degrees to their curriculum

The post A BA In MMJ? How American Universities Are Attracting New Students With Marijuana Degrees appeared first on The Fresh Toast.

SUNRISE, FL, Jan 27, 2022 - (ACN Newswire) - NextPlay Technologies, Inc. (NASDAQ: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, reported that its licensed Longroot digital token offering platform will serve as the financial advisor and underwriter for Ample Health's ('Ample') proposed security token offering (STO).

Ample Health is an emerging cannabis company operating from seed to sale in Southeast Asia. The company is looking to use the proceeds from its STO to fund its development and global expansion.

Longroot will be responsible for structuring the offering and raising the initial capital to fund the STO. This will involve developing the registration statements for all relevant jurisdictions, including preliminary and final prospectuses. It intends to lead Ample through the entire regulatory approval process, and then assist in the pricing and launching the STO through the Longroot portal.

"This Ample Health STO represents a tremendous opportunity for us to represent a major client in the fast-growing global cannabis space," commented Todd Bonner, director of Longroot (Thailand) Limited and chairman of NextPlay Technologies. "Once complete, we believe it will represent the first of many successful STOs for Longroot that we are currently advancing in our pipeline."

Ample Health looks to take advantage of the global cannabis market which is projected to grow at a 32% compounded annual growth rate from $28.3 billion in 2021 to $197.74 billion by 2028, according to Fortune Business Insights.

Akira Wongwan, CEO and co-founder of Ample Health, commented: "We selected Longroot to lead our STO due to its experienced management and well-established presence in the digital offering marketplace, as well as its Thai federal government licensing and oversight. Together, we believe this will ensure a highly-successful STO and the launch of our global cannabis platform."

The proposed offering targets to raise between USD $100-250 million. Longroot will receive a management and placement fee on the proceeds raised due immediately upon closing of the offering, which is expected to occur by the summer of 2022.

Disclaimer

The information included in the press release is for informational purposes only. It is not intended to be, nor should it be construed as, an offer or solicitation for the purchase or sale of any financial instrument, security or digital currency, or as an official confirmation of any transaction. All market information, data and other information included herein are not guaranteed as to completeness or accuracy and are subject to change without notice.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Ample Health and will contain detailed information about the company and management, as well as financial statements.

About Ample Health

Ample Health is an emerging cannabis company operating from seed to sale in Southeast Asia. It is focused on bringing synergy between growers, extractors, retailers and regulators, to help them compete in the domestic and international cannabis market and creating a fair and sustainable industry for all.

About Longroot

Authorized and regulated under global-leading Thai federal digital asset business law and licensed by the Securities & Exchange Commission of Thailand, Longroot (Thailand) Limited provides fully regulated and licensed digital asset financing and investment services for digital assets. Longroot is focused on creating regulated cryptocurrencies used in wholesale travel, real estate and hotels, gaming assets, insurance and digital advertising. As a Thailand-based corporation, Longroot is indirectly controlled by NextPlay Technologies. For more information, go to longroot.co.th.

About NextPlay Technologies

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay's engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visit www.nextplaytechnologies.com and follow us on Twitter @NextPlayTech and LinkedIn.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "intends," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties including, and not limited to, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; current regulation governing digital currency activity is often unclear and is evolving; the future development and growth of digital currencies are subject to a variety of factors that are difficult to predict and evaluate, many of which are out of our control; the value of digital currency is volatile; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are una ble to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay's periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors". These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

SOURCE: NextPlay Technologies, Inc.

Company Contacts:
NextPlay Technologies, Inc.
Richard Marshall
Director of Corporate Development
Tel: (954) 888-9779
Email: richard.marshall@nextplaytechnologies.com

Ample Health
Akira Wongwan
Founder
Tel: 0869778788
Email: a.wongwan@gmail.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comNextPlay Technologies, Inc. (NASDAQ: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, reported that its licensed Longroot digital token offering platform will serve as the financial advisor and underwriter for Ample Health's ('Ample') proposed security token offering (STO).

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTVS Motor Company today announced the successful acquisition of a 75% stake in the Swiss E-Mobility Group (SEMG). ?The acquisition reaffirms TVS Motor Company?s commitment to expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired.

On January 26, Santander, a popular Spanish bank, announced that it will launch its own ‘buy now, pay later’ (BNPL) service across its European markets as part of its efforts to boost revenue and f...

Bern, Switzerland, Jan 27, 2022 - (ACN Newswire) - Cake Monster, a new decentralized finance (DeFi) protocol on the Binance Smart Chain (BSC), has announced a revolutionary supply burn for its token. From the onset, the team at Cake Monster has defined themselves as economic innovators. The economic and innovative model of the project combines a hyper-deflationary native asset ($MONSTA) with the acquisition of a non-correlated reserve asset ($CAKE). After approximately seven months, the protocol continues to put proof to the theory and is working beautifully.

The reserve is generated from a small transaction and proof of life tax (once every fifty days.) This ensures the continual and fair hyper-deflation of the total $MONSTA supply. The reserve is growing fast, with average monthly APYs well over 500% and over 188K $CAKE already in the vault. Over TWENTY percent (20%) of the total supply has been burned, amounting to over two billion $MONSTA tokens. This is an extraordinary achievement for a new protocol in the current market in such a small amount of time.

The Monster Supply Burn

With just under a year and a half to go until the end of the first cycle, the ongoing hyper-deflation (token supply burn) seems likely to make things very hot, driving the price of $MONSTA up as the supply shrinks. This, in turn, will increase the growth rate of the reserve and further increase demand for $MONSTA, potentially a volcanically virtuous cycle for token holders.

However, the platform does not stop there as the supply is also elastic. Once the first cycle is complete and the reserve contents are distributed to $MONSTA holders, a new cycle is triggered, and previous cycle holders will be reissued their $MONSTA. The re-issuance will be in proportion to their percentage of holdings at the end of the previous cycle. The heart of the protocol beats again; the hyper-deflation and reserve growth begin anew with remaining liquidity from cycle one added to the news cycle.

The Cake Monster platform is replete with incentives to earn, explore and have fun. Already deployed are; Crumbs, Kitchen Making, Cashout of inactive accounts, Diamond Claw NFTs, and the Monsta Party NFT and P2E platform (first to be launched and generated while in outer space... the video is extraordinary.)

About the $MONSTA Token

The monster token is a BEP-20 compliant token used within the Cake Monster ecosystem. The initial supply of the token is 10 billion. However, as a result of the monster burn, the final supply will be 1 million (0.1%) of the initial token supply. For the token distribution, 30% of the tokens will be utilized for community engagement, marketing, and airdrop, 10% for the team, 50% presale, and 10% for public sale.

Innovative Features of the Monster Ecosystem

- Single-sided $MONSTA staking
Once deployed, $MONSTA holders will be rewarded for their commitment, which may positively affect the market and growth rate of the reserve. The potential for centralized exchange listing is also increased due to simple technical solutions to the transaction tax being possible.

- Lottery
More than one lottery is under development but the first to be released is something the team dubbed "Eternal CAKE."

The Eternal CAKE lottery will enable active diamond claw NFT holders to mint a lottery ticket. The numbers will be drawn every three days. If a player wins, they will be able to claim their prize. If nobody wins, or the winner doesn't claim their prize, the $CAKE is added back to the pot for the next prize draw. This means the opportunity for some potentially juicy and large jackpots to be won.

Once you have minted (or purchased later from a marketplace) a lottery ticket, it never expires. In other words, it provides the owner with ongoing access to all future Eternal CAKE lottery draws.

- Rob-a-Monsta
This new addition to the Monsta Party NFT platform is a protocol feature called "Rob A Monsta" (RAM). It is a P2E (play 2 earn) game that will reward active Monsta Party players at the expense of inactive players.

All-Party Monstas that have ever been fed by their owner continually accrue $MONSTA dividends, even if never fed again. However, active players (those feeding their Party Monstas) will be able to claim any pending $MONSTA dividends for Party Monstas not being fed by initiating a "robbery."

- Multi-asset vault
After a recent vote of community members, which returned an overwhelmingly positive result in favor, a new reserve asset (BNB) will be added to the protocol, making it multi-asset. This is expected to provide significant additional resiliency and further collaboration and community growth opportunities.

About Cake Monster

Cake Monster ($MONSTA) offers a multitude of great features aimed at building a flexible, multifaceted, and automated dividend yield and reward system for participants without compromising the sustainability or security of the protocol ecosystem, and combines this with smart design, creativity, and organic growth, resulting in a very vibrant and engaged community.

Cake Monster may look like a meme at first glance, but behind the stunning artwork and fun, whimsical nature is an economic model with significant and powerful innovation. It has attracted many knowledgeable minds and a passionate and engaged community. Innovation within the project is rapidly accelerating, with incoming developments and deployments representing only a small part of what is to come. An incredibly comprehensive and efficient PR and marketing campaign strategy has been developed to maximize awareness, growth potential, discussion, education, and utility of the core protocol and all future deployments. With these building blocks and ambition to match, this project is worthy of attention and deep analysis.

About Cake Monster

Cake Monster ($MONSTA), a DeFi protocol on Binance Smart chain, offers unique features focused on developing a flexible, multifaceted, and automated dividend yield and reward system for participants. It's the first protocol to design an increasing Gravity Vault CAKE Reserve that opens up to all $MONSTA holders and rewards them with $CAKE.

For more information, visit
Website: https://cake.monster/
Twitter: https://twitter.com/MonstaPartyNFTs
Telegram: https://t.me/cakemnstr
Reddit: https://www.reddit.com/r/CAKEMONSTER/
Medium: https://cakemonster.medium.com/

Media Queries
Byron James, Cake Monster Media Office
Email: contact@cake.monster

SOURCE: Cake Monster

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCake Monster, a new decentralized finance (DeFi) protocol on the Binance Smart Chain (BSC), has announced a revolutionary supply burn for its token.

BANGKOK, Jan 27, 2022 - (ACN Newswire) - Civil Engineering PCL (SET: CIVIL), Thailand's leading integrated construction and civil engineering firm, made a debut on the Stock Exchange of Thailand on Thursday, 27 January, with the 'CIVIL' symbol. Its launch is marked by operations which are capable of achieving net profit margins above the industry average.
That capability is resulting from the company's focus on employing technology to raise efficiency in managing diverse construction projects both in terms of types and sizes; delivering quality and safe works within the specified budget.

CIVIL is also aggressively pursuing public and private projects, along with increasing revenues from its production and distribution of construction materials on its pathway to become a leading construction company with sustainable growth while driving the Thai economy and society.

Piyadit Atsavasirisuk, Chief Executive Officer of CIVIL, expressed confidence that CIVIL's shares would receive enthusiastic response on the first trading, backed by the company's track record dating back to over 50 years with over 1,000 large-scale construction projects and major infrastructure schemes being successfully executed.

CIVIL's experience and expertise are in railway works, double-track railways and high-speed trains; airports; dams and reservoirs; Industrial estates; and other infrastructure construction which aims to use modern technology and innovations to increase business efficiency.

The company has also leveraged of its competitive advantages in terms of civil engineering personnel, machinery and equipment and its own manufacturing plants of building material parts. Those elements have allowed CIVIL to manage project construction costs efficiently, providing quality works within the set budget.

The company has therefore earned the trust from government agencies as a top-rank contractor to underscore its ability to manage large infrastructure projects. CIVIL has planned to introduce modern technology, new methods, modern machinery and tools to constantly take its construction project management to the next levels.

The company is striving to achieve the 'Economy of Speed' by employing technology to plan the construction projects from start to finish, as well as adopting modern management principles emphasizing on agility and resilience to adapt to the changing industry.

That will enable CIVIL to increase its capabilities to support the government's large-scale infrastructure construction expansion plans, in the forms of bidding for projects, participating in public-private investment projects (PPP), and forming business partnership to manage large government projects and expanding works to private clients.

These plans are geared towards capturing opportunities arising from the country's growing construction industry, striking a balance between construction business and construction project management conducive to generating good returns in terms of gross profit and net profit margin that is consistently outstanding.

At the same time, CIVIL has also applied technology to its plants that make precast concrete, ready mix concrete, asphaltic concrete, pre-stressed concrete and corrugated steel railings (for road-side car barriers) and sewers. This is all about creating good growth for the business group producing and selling construction materials for distribution to business partners and for managing construction projects.

Meanwhile, the company has had its mining concession of limestone, which is the main raw material for construction and cement making, renewed - a move that has enabled CIVIL to maintain good cost management advantages in construction projects.

Piyadit said: "We aim to become a leading construction company with sustainable growth, by applying modern technology to enhance the operational potential in all dimensions to support the management of large-scale state infrastructure projects and private works. We are committed to delivering valuable and safe works under the specified budget to improve people's quality of life, advancing Thai economy and society."

Pichet Sithiamnuai, President of Bualuang Securities PCL, as a financial advisor and underwriter of CIVIL, noted that CIVIL has high growth potential with investment opportunities in the public sector's transportation infrastructure that is in a good growth stage.

This allows the company to tap its outstanding competitive advantages from using technology to enhance project management efficiency, creating an opportunity to participate in public construction projects and expanding its footprints on private schemes.

"All in all, this will enable CIVIL to maintaining the ability to generate good returns from operations. We believe that CIVIL deserves the status of a growth stock that will definitely receive a good response from investors," said Pichet.

Visit Civil Engineering PCL (SET: CIVIL) at https://www.civilengineering.co.th/en
Released for Civil Engineering PCL by MT Multimedia Co Ltd
Phipop Khongwong (Top), T: +66-81-929-8864; E: pipop.k@mtmultimedia.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comCivil Engineering PCL, Thailand's leading integrated construction and civil engineering firm, made a debut on the Stock Exchange of Thailand on Thursday (27 January) with the 'CIVIL' symbol.

Washington, D.C., Jan 27, 2022 - (ACN Newswire) - PlatoData and the Government Blockchain Association (GBA) has formed an alliance to support the growing GBA community. The partnership extends the working relationship between both organizations across Plato's growing data ecosystem. Plato's curated approach to both data intelligence, press syndication and engagement strategy was setup to support communities throughout the blockchain ecosystem.
"It's a great honor to be part of such a wonderful and entrenched organization such as the GBA," stated Bryan Feinberg CEO of Plato. "The Impact GBA is playing across the Government Enterprise market is substantial and represents what we consider a best of class opportunity to support the GBA community with integrated access to Plato's Data Platform. Our goal as a company is to help those communities in need of both awareness and understanding of the regulatory compliance our industry faces on a daily basis. Our plan is to extend Plato's extensive data repository to all GBA members and to support members with a full suite of news, analytics and electronic content syndication."

Gerard Dache, GBA's executive Director said, "We have had the pleasure of working with Plato over the past year and are extremely excited about what this opportunity represents to the GBA community. Plato represents everything we expect out of partner relationship as it relates to innovation, trust and a commitment to driving commercial adoption of Distributed Technologies and Regulatory Compliance. We are happy to extend out continued support the global community we represent."

About Plato

Plato is an open intelligence repository and data platform that unlocks the power of Vertical Search in a highly scalable way. The platform is designed to provide an ultra-safe and secure environment to consume sector-specific real-time data intelligence. More information can be found at: https://platoblockchain.com

About GBA

The Government Blockchain Association (GBA) is an international nonprofit professional association. GBA focuses on its members as individuals and organizations that are interested in promoting blockchain technology solutions across to the government sector. GBA cultivates professional workflows between technologists, public policy makers, application specialists, and those who want to learn about the new and emerging digital currencies. More Information: https://gbaglobal.org/

Source: Plato Data Intelligence: Zephyr@platodata.io

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comThe partnership extends the working relationship between both organizations across Plato's growing data ecosystem.

A medical cannabis dispensary may be coming to a vacant Family Video near you. A dozen Ohio properties once occupied by the ... Read More

HONG KONG, Jan 27, 2022 - (ACN Newswire) - Ebury, the global non-bank leader in cross border finance for SMEs, is entering Hong Kong's non-bank lending market to provide trade finance for credit-starved small and medium-sized companies.

Ebury announced today that it had started competing head-on with large banks and Hong Kong's non-bank lenders by offering SMEs unsecured trade finance as a complementary product for their payables, with line sizes of up to US$5 million per client.

With a valuation of more than US$1 billion, Ebury is a 'unicorn' and has offices across Europe, the Middle East, North America, and Canada. The company, which is also expanding across Asia, began offering foreign exchange (FX) and risk management solutions to Hong Kong SMEs in 2019.

The global fintech has FX and trade finance capabilities in more than 130 currencies and offices in 20 countries linked by a single best-in-class platform. It recently launched the ability to finance cross-border freight and advertising for e-commerce businesses that buy and sell over the internet.

Ebury Hong Kong Country Manager, Liam Thomas, said that many Hong Kong SMEs faced great difficulty getting capital for their business because of red tape, rigid systems and complex lender demands, especially those with volatile revenue and cash flow. Regular rejection of SMEs' trade finance applications had contributed to a global trade finance gap that the Asian Development Bank estimated was around USD1.5 trn in 2020.

"Ebury is immediately competitive in the Hong Kong market because the features of our trade finance product make it the best available. We offer clients an easy-to-use online platform, complete cost transparency, with absolutely no fees except for the interest charged for credit used. In contrast, competitors often have upfront, draw-down or utilisation fees on top. In addition, our payable finance line offers an up to 150-day repayment period, which is much longer than the industry standard 90-120 days," Mr Thomas said.

"Our clients are increasingly becoming e-commerce-focused businesses which are looking for greater flexibility in working capital solutions. Our trade finance product enables them to pay for advertising and for freight, which are not typically able to be financed cost effectively by traditional lenders. Quite simply, you can use Ebury trade finance longer and for more things, without having to provide security over balance sheet or goods," he added.

Australia-based Ebury Asia Pacific Managing Director, Rick Roache, said he expected strong demand and that the Ebury Hong Kong loan book would grow quickly because of the suitability of Ebury's trade finance product for Hong Kong clients' needs.

"Our experience in other similar markets is that growth in our book accelerates over time. In Australia, the book has grown more than 300% in 2021 with the majority our clients using it to finance supply chains into North Asia. This Hong Kong trade finance launch is an important part of our regional growth strategy. Once this business is established it will serve as a launch pad for Ebury into mainland China," Mr Roache said.

To find out more about Ebury, please visit Ebury Hong Kong https://en.ebury.hk/ .

ABOUT EBURY:
Ebury provides international currency exchange in over 130 currencies, risk management and lending capabilities to large and mid-sized corporates globally. Founded in 2009 and headquartered in London, Ebury has offered tailor-made solutions to more than 24,000 clients based on their needs and objectives, helping them manage their FX risk exposure, growth aspirations and international payment requirements. Ebury Hong Kong is an authorised Money Services Operator (MSO) authorised by the Customs and Excise Department. The MSO License allows Ebury HK to carry out remittance and money changing services under license number 18-09-02555 . Ebury is registered with the ICO under the UK Data Protection Act; registration number ZA345828.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comEbury, the global non-bank leader in cross border finance for SMEs, is entering Hong Kong's non-bank lending market to provide trade finance for credit-starved small and medium-sized companies.