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We are joining forces with Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) and HKT to take part in Hong Kong Monetary Authority (HKMA)’s stablecoin issuer sandbox (the “Sandbox”) that was announced in March this year. The coalition will leverage on the institutional digital asset custody capabilities of Zodia Custody, which is partly owned by Standard Chartered. The three well-established corporates share a common vision that the digital asset market can grow in a sustainable, transparent, and appropriately risk-managed way in Hong Kong and beyond. Dominic Maffei, head of digital assets & fintech, Hong Kong, Standard Chartered, said, “Standard Chartered is committed to staying at the forefront of the growing digital asset market and driving fintech innovation in Hong Kong [...] Under the guidance of the HKMA, we are proud to take part in the Sandbox with innovative industry leaders, Animoca Brands and HKT, to transform the financial sector and create positive impact for our clients.” Evan Auyang, our group president, said, “Animoca Brands is excited to partner with two of the most established and respected companies in Hong Kong to participate in the Sandbox. As a global Web3 ecosystem builder based in Hong Kong, we are excited about the mass adoption of digital assets via stablecoins issued under the HKMA’s proposed stablecoin issuer regime, and we are delighted to explore opportunities and new ways to innovate through the Sandbox.” Monita Leung, CEO of Digital Ventures, HKT, said, “HKT promotes fintech and digital economy through our consumer and merchant payment solutions. We are delighted to explore the immense potential of stablecoins in revolutionising payment systems.” For more information, read the full announcement: https://lnkd.in/gAX2vvSD 

German neobroker Trade Republic finally becomes profitable. #TradeRepublic, often compared to Robinhood as Europe's version, has achieved profitability for the first time in its eight-year journey. In a remarkable turnaround, the company reported a solid double-digit million euro net profit for the year ending September, a significant shift from the €145 million net loss the previous year. Christian Hecker, co-founder of the Berlin-based startup, revealed that they saw an influx of up to 100,000 new clients per month by the end of last year. Unlike its peers N26 and Solaris SE, which have faced growth challenges, Trade Republic has successfully navigated market uncertainties, including those exacerbated by geopolitical events like Russia's invasion of Ukraine. Despite expecting a return to loss due to increased investments in marketing and other areas, Trade Republic has demonstrated resilience and adaptability. The company has strategically positioned itself as a platform for long-term investments, such as ETFs, attracting a clientele, 60% of whom had no prior trading experience. Since its last client number disclosure in 2021, Trade Republic has quadrupled its user base to 4 million and increased client assets more than fivefold to €35 billion. This growth underscores the scalability and profitability of their business model. In 2022, Trade Republic received a full-scale European banking license, a notable achievement that sets it apart from fintech rivals N26 and Solaris. With a valuation of €5 billion and total funding of $1.3 billion from investors like Peter Thiel’s Founders Fund and Sequoia Capital, the company is well-positioned for further expansion. Profitability has always been very hard to reach for startups, mostly for digital banks in the fintech space, so you can understand why this achievement is so important for #Trade and for the fintech ecosystem in Germany. It means that building a sustainable startup in this market it's possible, and everyone out there shouldn't give up on trying. The article on the Financial Times in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

🌏 Southeast Asia's BNPL industry faces cutbacks, with a significant drop in funding and several firms shutting down or pivoting due to economic pressures. 💸 Notable failures include LatitudePay and Pace, with remaining players like Atome showing signs of resilience through new partnerships and revenue growth. 🔍 Despite challenges, some market actors attracted substantial investments, hinting at ongoing interest and potential in the sector. - Want full insights? Subscribe to Tech in Asia to read the entire article.

Are you ready to dive into the forefront of financial innovation? At USVenture News, we had the privilege to get under the hood of OpenYield, a next generation bond marketplace launched by Hilton Lipschitz and Jonathan Birnbaum. 💼🚀 This cutting-edge platform ushers in a new era in the Fintech industry providing an equity-like market for bonds sourced directly from algo liquidity providers! It's set to revolutionize the investment world, providing wealth platforms with a revamped experience while reducing cost. 👍💰 Curious to find out more about the bold strides that @OpenYield is making in the Fintech space and how they can power the coming wave of direct indexing for fixed income? Get ready to be inspired! 🏦🔝 Check out our in-depth article here ➡️ https://lnkd.in/exkBgb9m #Fintech #OpenYield #FinancialExchanges #FinanceTransformation #NextGenBondMarket #Innovation #USVentureNews

Danish fintech disruptor Pluto.markets (YC W22) secures $2.6 million to disrupt the brokerage market. Pluto.markets, a forward-thinking Danish neobroker, has successfully secured a $2.6 million funding round, setting the stage for a major shakeup in the brokerage market. Founded by ex-Goldman Sachs trader Joakim Bruchmann and software engineer Oscar Vingtoft, Pluto.markets is on a mission to democratize investing across Europe, challenging the status quo with a user-centric platform designed for accessibility and transparency. With its sights set on launching in Denmark by July 1, Pluto.markets isn't just stopping there. The ambitious neobroker plans to expand across the Nordics and cater to the 100 million Europeans outside the eurozone, offering a fresh, innovative investment experience far removed from the high fees and complexity of traditional brokerage firms. Backed by heavyweight investors including Magnetic, founders of Pleo, Zendesk, Sitecore, and Synthesia, as well as support from Y Combinator and Nordic Makers, signals a clear vote of confidence in the startup's potential to disrupt. By offering a superior user experience with lower fees, Pluto.markets is poised to challenge established players like Nordnet, Avanza, and Saxo Bank, potentially reshaping how Nordic citizens, and soon other Europeans, engage with investing. The article on Silicon Valley Journals in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

Seeking to innovate and solve real world problems, every decent startup has its tale of triumphs and trials. The life of a startup team is often romanticised, but the reality is woven with threads of passion, resilience, and many a time, sheer willpower to pull through. As founders, we have our fair share of sleepless nights, month end bills and hiccups that no backup plans can prepare you for. Yet, I have met many founders and pioneering team, who have big dreams, who persevere on to bring a vision to life against all odds. I couldn’t be more happier for SenSen to be nominated for an award at Singapore FinTech Festival , but this win is for all startups who dare to dream and relentlessly push the frontier of FinTech innovation 👏🏼👏🏼 If the story resonates with you—if you recognize the relentless spirit of startup—then support us 💪🏼 👉🏻A like, a follow, or even a word of encouragement in the comment goes a long way 😌 let's connect, share your stories and build a network that sustains. #StartupLife #Innovation #Entrepreneurship #SupportSmallBusiness #Fintech #SenSen --- For more information about the company visit https://sensenpay.com

New Post: Singapore-based fintech Xalts acquires digital trade platform Contour Network - https://lnkd.in/gNzFMcEQ - In a role reversal, Xalts, a Singapore fintech startup founded 18 months ago, has acquired Contour Network, a digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP. Terms of the deal were undisclosed, but the acquisition price was in the high single millions and composed of cash and stock. © 2024 TechCrunch. All rights reserved. For personal use only. - #news #business #world -------------------------------------------------- Download: Stupid Simple CMS - https://lnkd.in/g4y9XFgR -------------------------------------------------- or download at SourceForge - https://lnkd.in/gNqB7dnp

[Published in June 2024] “I always tell my team that I’ve waited 14 years to see Vietnam really become a cashless economy. We’re moving there and at a very fast pace and I’m very happy about it.” - Nguyen Manh Tuong, CEO of MoMo (M_Service). 📈 MoMo is actively expanding its ecosystem beyond core e-wallet services, adding features like stock trading, micro-investing, and other financial products. 🔥 Despite the rise of NAPAS VietQR and increased competition, MoMo remains confident in its position as the leading e-wallet in Vietnam. The company is adapting to changing regulations, focusing on product diversification, and emphasizing its customer base and market dominance. 🤔 Can MoMo successfully navigate the challenges of a rapidly evolving and competitive fintech landscape, maintaining its market leadership and achieving profitability, or will its super app strategy fall short?

🔥 Uncover the payment startups in Hessen that are revolutionizing Germany's finance industry 🕵️♂️ You don't want to miss our latest article on Finmag! Get an in-depth understanding of some of the most influential startups in the financial scene in 2023 👉 https://lnkd.in/emzbnfKC Featuring: TeleCash Kommunikations Service GmbH-Service GmbH, the definitive provider of POS terminals, taking financial services to a new dimension! Ärztliche Verrechnungsstelle Büdingen GmbH, a strong game changer in the healthcare financial services. eFishery, a stand-alone payment service pushing boundaries and redefining how businesses navigate their payment transactions. Concardis GmbH jetzt Nexi, the powerhouse when it comes to creating solutions for cashless payments. LOGPAY Group Financial Services, a pioneer in payment and financial service solutions. Axpay Digital, the innovative platform that makes cashless transactions in eCommerce a breeze. Khyber Exchange, your go-to platform for transferring money seamlessly. Universum Group, a leading-edge independent debt collection agency and an acclaimed payment provider. Traxpay, founded by Markus Rupprecht, setting the pace in offering supply chain finance globally. USDX Wallet, the brainchild of co-founders Andrey Peshkov and Evgeny Sapunov, making great strides in the crypto-finance area. VR Payment GmbH, a trusted name in offering cashless payment solutions to banks and sales partners. PayPerse, redefining fast ordering and payment in restaurants - say hello to convenience and goodbye to long lines! #Finance #Startups #Disruption #Technology #Innovation #GermanStartups #PaymentSolutions #Fintech+#Blockchain #PaymentStartups