Former Singapore Parliamentarian’s Swiss Digital Assets Company Receives Regulatory Approval

February 10, 2023
Calvin Cheng's Damoon Technologies has obtained membership status from the Swiss Financial Services Standard Association (‘VQF'), which is officially recognised by the Federal Financial Market Supervisory Authority (‘FINMA')This comes on the back of Cheng's Web3 Company obtaining the Virtual Asset License from the Dubai Virtual Asset Regulatory Authority (VARA)Damoon will offer crypto-fiat-crypto payment services, as well as a digital assets custodianZURICH, SWITZERLAND, Feb 10, 2023 - (ACN Newswire via SEAPRWire.com) - Singapore investor and former parliamentarian Calvin Cheng's Swiss company, Damoon Technologies (‘Damoon') has been granted membership in the Swiss VQF, joining the ranks of some of the world's leading digital assets businesses.The latest development officially opens the door for Damoon to establish a presence in Switzerland. Thedigital assets company is building a platform for users to engage in crypto- to-fiat payments and vice versa, as well as a digital assets custody service.VQF is the largest and oldest cross-industry Self-Regulatory Organisation (SRO) in the country and is officially recognised by FINMA, Switzerland's financial services watchdog.Damoon must now comply with Swiss anti-money laundering (AML) regulations. Thanks to this, the company is in a unique position to work with demanding clients and offer them a place that provides efficiency, security and regulatory clarity.Calvin Cheng commented, "I believe in the future of digital assets, but this has to be done in accordance with traditional finance's compliance standards. Switzerland is the pre- eminent global financial hub, and is the ideal place to base crypto-fiat-crypto financial services, as well as a trusted custodian."Recently, Damoon has also joined the Crypto Valley Association in Zug. "Crypto Valley Association are excited to welcome Damoon Technology and Mr. Calvin Cheng as members," said a spokesperson for the organization.Currently, Damoon is in the process of building its compliance and operational team in Zurich and Zug, Switzerland. The company expects to start operations by the end of Q2 2023.Earlier in 2022, Cheng's Web3 Holdings FZE was awarded the coveted provisional Virtual Asset License by VARA in Dubai, United Arab Emirates. The license granted similarly promotes greater customer assurance and risk protection.About Calvin ChengCalvin Cheng is currently the Chairman of Australia Stock Exchange (ASX) listed EdTech firm ReTechTechnology Co, which he led to an Initial Public Offering, together with leading investors from China.ReTech's shareholders include several co-founders of Alibaba, as well as founders of other leading Chinese tech companies.Cheng was a former appointed Member of Singapore's Parliament and a Young Global Leader of the World Economic Forum. He is also the Republic of Serbia's first Honorary Consul to the Republic of Singapore.For media inquiries and interview requests, please contact:Tang Hong Ee (Financial PR) (T) 6438-2990(E) hongee@financialpr.com.sg Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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FTX Trading Bankruptcy: Protecting Your Company’s Interests ACN Newswire

FTX Trading Bankruptcy: Protecting Your Company’s Interests

February 2, 2023
NEW YORK, NY, Feb 2, 2023 - (ACN Newswire via SEAPRWire.com) - Zuber Lawler is representing entities who received investments from Alameda Research and FTX Ventures. Alameda Research and several other FTX-related entities have filed bankruptcy proceedings in Delaware. These multiple filings are all being administered under one matter, In re FTX Trading, USBC Case No. 22-11068. Most first and second day motions have been heard and either have been granted or are currently pending. Things are moving forward.On January 18, 2023, FTX debtors moved for an order authorizing and approving procedures for a sale or transfer of what they have termed as "de minimis assets." FTX debtors define "de minimis assets" as investments and/or interests held by FTX debtors, including Alameda Research, in privately held companies, which (according to FTX debtors) can be easily separated from the debtors' core operations, will not disrupt the core operations, and will generate less value to the estate than other assets. FTX debtors state that the de minimis category includes approximately 185 investments made for $1 million and below, approximately 75 investments made between $1 million and $5 million each and approximately 40 investments made between $5 million and $25 million each.Notably, FTX debtors state that they are in the process of a "strategic review" of the de minimis assets, including the potential for repurchasing of debtor interests by investees or other investors in these investments.Although they have not identified these assets specifically, FTX debtors wish to have the court approve an established and expedited procedure for the sale/transfer of these types or category of assets, without the need of moving the court or getting court approval for each sale, but with the oversight of the Official Committee. Put in other words, they wish to get authorization to proceed with these individual sales "off line," and without the need of going through the motion procedure for each specific asset or asset group. If Alameda Research or any other FTX entity invested in your company, that investment will likely be categorized as a "de minimis asset," subject to this motion, and will now be up for sale through the bankruptcy process. Through that process, you may be asked (compelled) to make public otherwise confidential information in order to facilitate the public auction or sale of those securities or assets. You may also be at risk of a competitor (or other unsuitable purchaser) buying an interest in your company, and in doing so, potentially obtaining other information and management rights. Even without such a sale of assets, you may now have questions around who you may need to provide information and notices to on an on-going basis, as well has who you may need to obtain consent from in order to take actions subject to restrictive covenants in your investment documents. The situation is even more complicated for issuers of SAFTs or other digital assets that may be subject to inconsistent regulation as a security (or not) across various jurisdictions (since the location of the purchaser may impact whether the SAFT/token issuer is subject to US securities law).Zuber Lawler is in a unique position to provide the described representation. We have represented a large number of clients with operations across the entire scope of distributed ledger technology. Our clients include token issuers (fungible and non-fungible), digital asset platforms and providers of related services, as well as traditional companies (and government entities) who look to understand and enter the digital asset space. A large number of our clients are not domiciled in the United States and we are extremely familiar with the concerns these clients face. In fact several of our existing clients will be part of the ad hoc group. While we cannot make any promise of any particular result, we expect that we will be better positioned to provide the representation described above than any other firm in the United States. If your company sold investment assets to Alameda Research or FTX Ventures, please reach out to Josh Lawler at Jlawler@zuberlawler.com to set a time for a short video conference to discuss specifics relating to your situation at no charge. *Attorney Advertisement - Prior Results Do Not Guarantee a Similar Outcome.For more information, visit https://ZuberLawler.com.Source: Plato Data Intelligence: https://PlatoAistream.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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Coinbase and GenTwo Digital announce partnership for custody and execution ACN Newswire

Coinbase and GenTwo Digital announce partnership for custody and execution

January 17, 2023
ZURICH, SWITZERLAND, Jan 16, 2023 - (ACN Newswire via SEAPRWire.com) - GenTwo Digital, the Zug-based subsidiary of GenTwo AG, today announces a partnership with Coinbase, the publicly-listed cryptocurrency platform. GenTwo Digital, the leading provider of innovative securitization platforms is herewith extending the investment universe on digital assets for professional investors. This allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue innovative certificates such AMC's (Actively Management Certificates). Any financial intermediary can create white labelled investment products in collaboration with GenTwo Digital and execute via Coinbase's platform. Lucas A. Ereth, Managing Partner, GenTwo DigitalLucas A. Ereth, Managing Partner GenTwo Digital, says: "Through this partnership, GenTwo and Coinbase are not only providing a secure institutional gateway to crypto assets, but also helping GenTwo to fulfil our mission of expanding the investment universe, while creating a more open financial system for the world."Coinbase is the leading online platform for buying, selling, transferring, and storing cryptocurrency and was founded in 2012. Coinbase Prime is the leading institutional prime broker platform for crypto assets. It is a fully integrated platform built specifically for institutions to support the entire transaction lifecycle including advanced multi-venue agency trade execution for 200 assets, custody for more than 360 assets, financing, staking and staking infrastructure, data and analytics, and reporting. Institutions can access Coinbase Prime directly via a user interface or as an integrated platform via APIs to offer crypto related products such as ETPs and ETFs, custodial solutions, or brokerage for their institutional, private wealth, and retail clients."We're excited to collaborate with GenTwo to enable any authorised financial advisor and financial intermediary in Switzerland to provide access to crypto underlyings to their clients via passive and actively managed certificates. These instruments will benefit from execution services through Coinbase multi-venue execution platform, and assets will be held 1:1 in segregated cold-wallets for optimum security," said Guillaume Chatain, Head of EMEA Institutional Sales at Coinbase. Coinbase Institutional powers the world's largest and most sophisticated institutions including BlackRock, Google, Wisdom Tree, 21 Shares, Grayscale, PIMCO, Brevan Howard Digital, Invesco, GSA Capital, Lakestar, and Millennium Global.About GenTwo AG and GenTwo DigitalZurich-based innovative securitization specialist GenTwo has invented a new generation of financial products. The company creates securitization platforms for asset managers, banks, family offices and venture capital investors, enabling professional investors to easily invest in bankable and previously non-bankable assets. The focus on off-balance sheet investment products solves the problem of declining margins and growth barriers for many financial market participants. New performance potential emerges through granting access to a theoretically unlimited world of asset classes. Institutional investors can use GenTwo's securitization solution to realise their own product and business innovations, to make any type of assets investable and to help shape new, sustainable markets. Private investors in Switzerland can also benefit from these innovative products via their financial intermediaries, thereby giving GenTwo the opportunity to open and expand its customer base to retail investors. GenTwo Digital is based in Crypto Valley in Zug, Switzerland. The subsidiary of GenTwo enables professional investors around the world, and now also private investors in Switzerland, to securitize all digital assets, including crypto assets, in securities on the traditional financial market via their financial intermediaries. Media contact GenTwo: Simone C. Drill, Chief Marketing & Communication Officermedia@gentwo.com +41 79 207 33 49www.gentwo.com About CoinbaseCoinbase is building the cryptoeconomy - a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, we offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy. Coinbase is listed on Nasdaq under the ticker symbol COIN. Media contact Coinbase: MaryKate Collins, EMEA Communications press@coinbase.com +353 83 204 5224www.coinbase.comSource: https://cms.gentwo.com/uploads/Gen_Two_Coinbase_EN_docx_8f9dc215fd.pdf Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
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GMEX Group Wins Best Development in FinTech of the Year ACN Newswire

GMEX Group Wins Best Development in FinTech of the Year

November 28, 2022
LONDON, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - GMEX Group ('GMEX'), a leader in digital business and technology solutions for capital markets, is proud to announce that it has been awarded Best Development in FinTech of the Year by Crypto AM for its GMEX Pyctor institutional-grade digital assets technology. These coveted awards are judged by an independent, expert panel of industry leaders. GMEX competed with other finalists including Revolut to win.GMEX Pyctor ('Pyctor') was acquired earlier this year by GMEX after being successfully incubated in ING Neo's innovation lab. It has been jointly developed in collaboration with multiple blue-chip financial institutions (both asset managers and banks) and regulators. This leading fintech provides regulatory compliant digital assets network and digital custody technology, and is designed for firms operating in regulated environments. It offers highly secure digital custody and transactional network services for a broad range of digital assets, as well as delivering interoperability between permissioned and public blockchains.GMEX Group is in its tenth anniversary year. While its business started in traditional finance, developing exchange matching engines, clearing, settlement and custodial solutions, the firm was early to get involved in the digital assets space in 2017 with the subsequent launch of the GMEX Fusion, a unique centralised and distributed ledger market infrastructure suite for exchanges and post trade operators. It now has multiple solutions as part of an overall technology fabric, including its MultiHub 'network of networks' service, which interfaces with Pyctor, removing the need to integrate with multiple trading parties, trading venues and digital custodians. Sitting at that intersection, GMEX is a hybrid finance specialist, addressing the interoperability issues experienced in the market to bridge traditional and digital assets activity aligned with current and evolving regulations.Hirander Misra, CEO of GMEX Group said: "The current environment will lead to increased regulations and an institutional digital flight to quality, creating a need for an offering which makes it easier navigate this with the right governance, control, security and risk management."He continued, "GMEX Group is the first company to offer an end-to-end multi-asset, multi-sector Hybrid Finance solution designed for regulated environments, which bridges the gap between off-chain Traditional Finance (TradFi), Centralized Finance (CeFi) and on-chain Decentralized Finance (DeFi) across jurisdictions. We are pioneering in the domain of Hybrid Finance (HyFi) and are thrilled to have our success in developing unique solutions to address industry challenges formally recognised with this highly prestigious award."Media Contact:GMEX GroupHelen DisneyThe Realization Group Tel: +44 (0)7792 376 546Helen.disney@therealizationgroup.compr@gmex-group.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Komainu Secures MVP Licence from Dubai’s Virtual Assets Regulatory Authority ACN Newswire

Komainu Secures MVP Licence from Dubai’s Virtual Assets Regulatory Authority

November 23, 2022
DUBAI, UAE, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - Komainu (Custodian), a regulated digital asset custody provider built by institutions for institutions, has announced today that it has received the minimal viable product (MVP) licence from Dubai's Virtual Assets Regulatory Authority (VARA), following the issuance of its provisional approval in July 2022. The MVP licence means that Komainu can offer an approved range of virtual asset related services to institutional investors in Dubai within an internationally benchmarked legislative framework for virtual asset service providers (VASPs) following completion of its readiness requirements. The transition to an MVP licence, from a provisional approval received earlier this year, means Komainu can provide institutional clients in the UAE with: - Virtual Assets Custodial Services- Virtual Assets Management ServicesKomainu MEA FZE is the first 'dedicated" institutional digital asset custodian to receive its MVP licence approval from VARA.VARA is the world's first specialised regulator for the virtual assets sector. Established in March 2022, following the effect of Law No.4 of 2022, VARA is responsible by decree for licensing and regulating the virtual asset sector in the Emirate of Dubai, and oversees all licensing requirements and applications for authorisation of virtual asset activities under UAE law. VARA plays a central role in creating Dubai's advanced legal framework to protect investors and establish international standards for virtual asset industry governance, which will allow the region to become one of the world's most favourable jurisdictions for virtual asset initiatives. Komainu acts as key gatekeeper to institutions gaining exposure to the virtual asset industry with the provision of secure and regulated virtual asset custody services for blockchain and beyond. Over the years, Komainu has established itself as one of the leading virtual asset custody providers for institutional clients, providing the same safeguards and protections investors are accustomed to in traditional finance. The Custodian's industry-leading services have been designed by security, financial services and cryptocurrency experts and have been reviewed independently by external auditors.His Excellency Helal Saeed Al-Marri, Chairman of VARA said, "In this current phase of heightened global appreciation for responsible virtual asset participant, VARA is pleased to onboard our first tradFi VASP - Komainu to join the MVP phase of the regulatory regime. Participation from the VA specialist ventures of deeply respected global financial institutions, allows VARA the opportunity to structure interoperable guidelines and risk mitigation levers for secure market operations. The VARA regime is structured to catalyse collaboration and prioritise public protection with a mission to provide a progressive regulatory framework for the virtual assets industry. We look forward to active engagement with Komainu and other select global players during this phase."Nicolas Bertrand, CEO of Komainu, commented: "We continue to be very excited by the development of the virtual asset industry in the UAE and are keen to have a strong positive impact in the region. Komainu actively works with regulators, partners, and our clients to make sure that our platform and the overall industry is held to the highest of standards to facilitate the wide adoption of virtual assets by institutions. With the full MVP licence now granted by VARA, we look forward to launching our services in the MEA region and assist institutions gain exposure to virtual assets, whilst relying to secure and regulated virtual asset custody services."For further information contact:INACTA Communicationsmedia@inacta.com0585876888 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Moonstake Joins StakingRewards VPP as A Top 10 Provider Globally ACN Newswire

Moonstake Joins StakingRewards VPP as A Top 10 Provider Globally

October 12, 2022
SINGAPORE, Oct 12, 2022 - (ACN Newswire via SEAPRWire.com) - Today, Moonstake is proud to announce that we are now officially a Verified Provider as part of StakingRewards' Verified Provider Program! We join the VPP family as a top 10 staking provider worldwide trusted by users and leading PoS blockchain projects across the globe.The Verified Provider Program (VPP) is an initiative by StakingRewards to increase trust, transparency, and reliability in the staking industry by verifying that Providers meet a set of criteria relating to risk management, longevity, and security measures. The program aims to help investors make confident decisions about Staking Providers by conducting rigorous due diligence on the provider's operations and security setup to determine if their service truly provides users with Reliability, Security, Accountability, Liability. Additionally, they also calculate a "Value-Added Score" that considers things like customer service, value-added services offered, decentralization ethos, and governance participation. As a Verified Provider, Moonstake is proven to provide an outstanding staking platform with exceptional user experience, be it in asset management and security for users or customer service. Moonstake started the staking business last year with the aim to create the largest staking network in Asia. Since then, we have developed the most user-friendly Web Wallet and Mobile Wallet (iOS / Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Currently, Moonstake supports 17 leading PoS assets including Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras, Centrality, Orbs (Ethereum and Polygon), IOST, TRON, Shiden, FIO, Everscale, and Oasis.Founded in 2017, Staking Rewards is the central information hub and leading data aggregator for the crypto staking industry. It provides insights and investment tools for private and institutional investors through unbiased and live staking market data, simplifying portfolio and calculator tools, and deep research analysis about the staking industry. The StakingRewards API feed is being used by major companies like Coinbase and Bitcoin Suisse. Mitsuru Tezuka, Founder at Moonstake, says: "We're honored to become a part of StakingRewards Verified Provider Program as a Top 10 global staking provider. Moonstake is always striving to offer the best staking experience for users worldwide with support for high-demand assets, a robust and secure staking infrastructure developed by our expert development team as well as in partnership with leading industry partners, excellent customer support and multilingual services, as well as sharing valuable industry news and insights to our users. We hope to continue serving the crypto community and receive your continued support!"Follow us on Twitter (https://twitter.com/moonstake) and Telegram (https://t.me/Moonstake_wallet) for the latest updates on Moonstake news!About MoonstakeMoonstake is the world's leading staking service provider that develops and operates decentralized wallet services for businesses and individuals.Since its launch in April 2020, Moonstake has partnered with 27 leading platform providers, including Cardano's constituent Emurgo, developer of the Polkadot-connected blockchain Astar Network Stake Technologies, and the TRON Network with over 50 million users. In May 2021, Moonstake further enhanced its corporate credibility by becoming a wholly owned subsidiary of OIO Holdings Limited, a company listed on the Singapore Stock Exchange.Using blockchain technology, Moonstake aims to progress toward a world where anyone can easily make use of highly secure and reliable digital asset management tools. https://www.moonstake.io/About Moonstake's staking businessFor the staking industry, which has grown into a 630-billion dollar market as of September 2021, Moonstake provides a decentralized staking service that does not require user deposits, and supports nodes around the world in addition to its own validator nodes. Moonstake currently supports the staking of 17 blockchains. With a total staking assets of 1.8 billion USD and a global user base, the company ranked third out of more than 10,000 providers worldwide in June of the same year.About StakingRewardsStakingRewards is a platform of open-concourse, that provides data and guidance to minimize the risk when investing in the countless opportunities to earn passive income with cryptocurrencies. The team is curating knowledge and data to build a healthy staking and defi ecosystem. StakingRewards is committed to lowering the access barrier to staking opportunities by presenting, comparing and benchmarking all the (Staking) Providers, who are dedicated to providing infrastructure, security, expertise and sometimes even custody or insurance for the staking assets. https://www.stakingrewards.com/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Moonstake Officially Supports The Ethereum Merge ACN Newswire

Moonstake Officially Supports The Ethereum Merge

September 19, 2022
SINGAPORE, Sep 19, 2022 - (ACN Newswire via SEAPRWire.com) - Today, Moonstake is thrilled to announce that we will officially support the Ethereum Merge. This event marks the full transition of the Ethereum network to Proof-of-Stake and will finally enable users to stake and earn from their ETH assets. We are proud to be one of the first platforms in the world to officially support the new Proof-of-Stake ETH.The Ethereum Merge will undoubtedly bring about exciting developments for the market as well as many benefits to crypto users. We have an insight article on the impact of this event and why you should care here( https://moonstake.io/everything-about-ethereum-merge/) , so check it out if you're interested. Moonstake users do not need to take any action to access the new Proof-of-Stake ETH. All your ETH funds on Moonstake will remain secure when the Merge takes place.Moonstake started the staking business last year with the aim to create the largest staking network in Asia. Since then, we have developed the most user-friendly Web Wallet and Mobile Wallet (iOS / Android) with support for over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach $1 Billion, allowing Moonstake to become one of the top 10 staking providers globally. Since March this year, Moonstake has also entered DeFi together with the newly launched DeFi platform, Muse.Finance, who has begun releasing its core DeFi products which are all scheduled to be integrated into Moonstake platform to enable advanced DeFi connectivity for our global users.Established in July 2015, Ethereum has long been leading the industry with Bitcoin as the most popular digital assets. The Ethereum network is has been running on the Proof-of-Work consensus algorithm like Bitcoin since its inception, but is now changing to Proof-of-Stake. Benefits of The Merge include a massive 99.95% reduction in the network's energy consumption and eventually, lower fees and faster transaction speed for users as the upgrade will set the stage for future scaling upgrades including sharding. Moonstake Wallet has always supported the staking assets available on the Ethereum chain such as ORBS and CENNZ. By becoming one of the first platforms to support Proof-of-Stake Ethereum, Moonstake is further demonstrating its commitment to providing the best experience for crypto users.About MoonstakeMoonstake is the world's leading staking service provider that develops and operates decentralized wallet services for businesses and individuals.Since its launch in April 2020, Moonstake has partnered with 27 leading platform providers, including Cardano's constituent Emurgo, developer of the Polkadot-connected blockchain Astar Network Stake Technologies, and the TRON Network with over 50 million users. In May 2021, Moonstake further enhanced its corporate credibility by becoming a wholly owned subsidiary of OIO Holdings Limited, a company listed on the Singapore Stock Exchange.Using blockchain technology, Moonstake aims to progress toward a world where anyone can easily make use of highly secure and reliable digital asset management tools. https://www.moonstake.io/ About Moonstake's staking businessFor the staking industry, which has grown into a 630-billion dollar market as of September 2021, Moonstake provides a decentralized staking service that does not require user deposits, and supports nodes around the world in addition to its own validator nodes. Moonstake currently supports the staking of 17 blockchains. With a total staking assets of 1.8 billion USD and a global user base, the company ranked third out of more than 10,000 providers worldwide in June of the same year.About EthereumEthereum is a technology for building apps and organizations, holding assets, transacting and communicating without being controlled by a central authority. There is no need to hand over all your personal details to use Ethereum - you keep control of your own data and what is being shared. Ethereum has its own cryptocurrency, Ether, which is used to pay for certain activities on the Ethereum network. https://ethereum.org/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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MC and InfraRed Named Preferred Bidders for UK Offshore Transmission Asset JCN Newswire

MC and InfraRed Named Preferred Bidders for UK Offshore Transmission Asset

September 9, 2022
TOKYO, Sep 9, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation (MC) is pleased to announce that MC and InfraRed Capital Partners (InfraRed) have been selected as the preferred bidders for a new offshore electricity transmission link in the UK. MC's partnership with InfraRed comes via its UK-based, wholly owned subsidiary Diamond Transmission Corporation Limited (DTC). The acquisition of this link will make DTC the operator of ten offshore transmission assets in the UK with a combined total of 784 kms of cable, thus adding to its already largest share of the market. Valued at approximately 190 billion yen, the assets in question comprise subsea cables, land cables, offshore substations and an onshore substation that connect with the 1,386 MW capacity Hornsea Two offshore wind farm situated approximately 90 km off the UK's northeast coast. MC and InfraRed will operate this electricity transmission business for a 24-year period, following successful acquisition of the assets and the granting of an Offshore Transmission Owner license by the UK's Office of Gas and Electricity Markets (Ofgem). To operate the business efficiently, DTC will leverage its experience running its existing transmission assets in the UK. Through its commitment to simultaneously generate economic, societal and environmental value, MC is striving to meet the ever evolving needs of communities around the world and achieve sustainable growth hand in hand with society. In Europe, we are rapidly expanding our undersea transmission operations to help promote the development and use of offshore wind power, for which these kinds of infrastructure and systems are essential. The growth of these businesses will also play a part in lowering greenhouse gas emissions. MC has been doing more in recent years to create new carbon-neutral industries that will be powered by renewable energies. These efforts are part of our work to revitalize regions across Japan through businesses that promote both digital (DX) and energy (EX) transformations, which is a key objective of our latest management plan, "Midterm Corporate Strategy 2024: Creating MC Shared Value." Knowing how these overseas transmission operations can enhance the offshore wind farm and other renewable energy projects that MC is both developing and operating here in Japan, we intend to take full advantage of the know-how gained from them. MC remains dedicated to helping Japan and countries around the world secure stable supplies of renewable energy. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
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PlayEstates Launches First Gamified Platform with Real Estate Backed Assets SeaPRwire

PlayEstates Launches First Gamified Platform with Real Estate Backed Assets

July 18, 2022
Los Angeles, CA, July 18, 2022 – (SEAPRWire) – PlayEstates is proud to announce the launch of its first gamified platform with real estate backed assets. Real estate is one of the best wealth-creating industries, and several efforts have been made to replicate the same business structure in the virtual gaming world. There are many play-to-earn games related to real estate, but they do not provide actual monetary returns for the players beyond the enjoyment of the games. To address this issue, PlayEstates has launched the first-of-its-kind Web3-based game to reward gamers on their platform. The company has developed an unique gamefi platform where gamers can monetize their gaming habits and build real-life passive income. “We want gamers not only to succeed and have a blast in contents they love, but also be able to earn like pros, and build real assets in the physical world,” the company’s CEO William Guo said. Using the PlayEstates platform, gamers can play blockchain-based games through a gamified model and, most importantly, create wealth and secure fractional ownership of IRL real estate assets. In short, PlayEstates is making owning property in the real world through the online play-to-earn fractional ownership model. Video gamers will now be able to have fun and book profit as well. “Real estate has always been a safe bet with stable returns and appreciation, which is why we decided to back our tokens with the passive income generated from IRL real estate holdings,” Guo added. Using the gaming platform, users can create wealth passively based on their gameplay. Backed by founders with decades of combined experience in venture capital and the international business market, PlayEstates can maximize returns from real-world assets across asset classes, geographies, and many more. In addition to the real-world financial backing that PlayEstates provides, the cost to participate in the games is also low. New investors and curious minds can get their feet wet in the digital economy at a low cost. With such opportunities, PlayEstates makes the creation of real wealth accessible to all people. How gamers can benefit from the PlayEstates platform: Gamers can build real estate holdings through a fractional ownership modelAccess Play-to-Earn games and investments from anywhere in the worldStart investment with just a few dollars$0 management fee for all gamers and their assets. Who can play and create wealth by playing on PlayEstates? Gamers of all ages can play and start building their wealth. In addition, there is a tier system for gamers where they can earn additional money based on different tiers. Playing games and earning passive income is the primary business model of PlayEstates, and the platform is all set to welcome real estate and gaming enthusiasts. Curious gamers can check out the play-to-earn games via www.playestates.com and participate in the Ethereum blockchain economy for at a very low price. About PlayEstates PlayEstate is the first play-to-earn Web3 gaming platform that turns gaming hours into real-world real estate assets ownership. The platform’s innovative GameFi platform utilizes real-backed assets for its tokens and rewards players through fractional ownership. Social Links Linkedln: https://www.linkedin.com/company/playestates Twitter: https://twitter.com/playestates Telegram: https://t.me/playestates YouTube: https://www.youtube.com/channel/UCzK1nobRnbD0zYa-9hL54Ig GitHub: https://github.com/PlayEstate Media Contact Brand: PlayEstates Contact: William Guo, CEO/Founder Email: info@playestates.com Website: https://playestates.com/ SOURCE: PlayEstates The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
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ING spins out Pyctor digital assets technology to GMEX Group ACN Newswire

ING spins out Pyctor digital assets technology to GMEX Group

July 12, 2022
London and Amsterdam, Jul 12, 2022 - (ACN Newswire via SEAPRWire.com) - ING announced today that it has spun out Pyctor to GMEX Group ("GMEX"), a leader in digital business and technology solutions for exchanges and post-trade market infrastructure. Pyctor's digital post-trade market infrastructure technology is designed for firms operating in regulated environments. It provides highly secure digital custody and transactional network services for a broad range of digital assets, as well as delivering interoperability between permissioned and public blockchains. Pyctor was incubated in ING Neo's Amsterdam innovation lab, in collaboration with major financial institutions and regulators.Pyctor is now a service offering within GMEX. Hirander Misra is appointed Chairman of Pyctor with other senior appointments to be announced in due course. ING will continue its relationship with Pyctor and collaborate through ING's digital assets team. Olivier Guillaumond, Global head of innovation Labs & Fintechs, ING commented: "After spinning out Stemly last year from ING Labs Singapore, Pyctor has been another innovation success story at ING Neo. ING Labs incubated Pyctor leveraging ING's DLT expertise, deep digital assets knowledge and continuous feedbacks from regulators and network participants. We now have found the right partner in GMEX to scale Pyctor to the next stage. It brings the ideal connectivity between multiple trading parties and digital assets custodians, while addressing interoperability issues experienced in the market."Hirander Misra, CEO of GMEX Group said: "Pyctor's decentralized network of institutional participants and Multi-Party Computation (MPC) proprietary custody technology offering compliments and strengthens the breadth of GMEX's MultiHub 'global network of networks' as part of our strategic ethos of stimulating growth in the digital assets market". He added: "With this acquisition, GMEX Group consolidates its position as the first platform to offer an end-to-end multi-asset, multi-sector Hybrid Finance (HyFi) solution that bridges the gap between off-chain Traditional Finance (TradFi) and on-chain Decentralized Finance (DeFi) across jurisdictions."Combining the Pyctor digital assets post-trade market infrastructure for global custodians, institutional issuers and other capital market actors with GMEX's MultiHub will empower financial markets participants to securely issue, access, manage, store and transact digital assets in a regulatory compliant manner alongside their traditional assets.About INGING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries.ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).Sustainability forms an integral part of ING's strategy, evidenced by ING's leading position in sector benchmarks.ING's ESG rating by MSCI was upgraded to 'AA' in December 2020. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 ('strong') from S&P Global Ratings.For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. About GMEX GroupGMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. These include, the GMEX MultiHub, which is a cloud based trading and post trade digital market infrastructure platform that as a 'multi-asset network of networks' facilitates a first of its kind collaboration across major institutions, regulatory regimes and start-ups with the goal of bringing digital assets to a wider audience.For more information visit www.gmex-group.com or Twitter @GMEX_GroupAbout PyctorPyctor is an institutional-grade custody solution for the digital asset ecosystem.It provides safekeeping and transaction services for any digital assets, by utilising its patent-pending multi-signatory and multi-party approval protocol.The solution implements a decentralized operating model that leverages upon hardware technologies like Hardware Security Module (HSM), as well as proprietary Multi-Party Computation (MPC) software. The benefits of this approach are increased security, resilience, 24/7 availability and risk mitigation.Pyctor's Travel Rule Module (Pyxis), offers FATF Rule 16 compliance and is compatible with the Travel Rule Protocol (TRP). It enables regulated DeFi and digital assets AML compliance.For more information visit https://www.pyctor.com/Media ContactsGMEX Group & PyctorHelen DisneyThe Realization Group Tel: +44 (0)7792 376 546Helen.disney@therealizationgroup.compr@gmex-group.comING GroupMarc SmuldersTel: +31 (0)20 5762847marc.smulders@ing.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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PlayEstates Web3 Gaming Platform Launches Its Fractional Ownership Model where Gamers Own IRL Real Estate Assets SeaPRwire

PlayEstates Web3 Gaming Platform Launches Its Fractional Ownership Model where Gamers Own IRL Real Estate Assets

July 11, 2022
Los Angeles, CA, July 11, 2022 – (SEAPRWire) – PlayEstates, a Web3 gaming platform, has launched its fractional ownership model, which allows gamers to own real-world real estate assets. The team is riding on the rise of play-to-earn gaming to build a revolutionary project accessible to everyone around the world. With the launch of the fractional ownership model, PlayEstates became the first non-fungible token (NFT) gaming platform backed by real-world real estate assets. The real estate industry is the largest asset class globally, and there is currently a huge fear of missing out (FOMO), especially among the younger generation. As a GameFi platform, PlayEstates collateralized its ecosystem to real estate, proving to be one of the strongest investment vehicles in our world, enabling users to earn and build wealth while enjoying varieties of games and the fun that comes with it. Unlike most existing play-to-earn gaming platforms, PlayEstates enables its gamers to build wealth through gaming, and own real estate assets one piece at a time. Its mission is to help the vast majority of people gain financial independence as they seek to build generational wealth. The PlayEstates’ Fractional Ownership Model This is a unique and first-of-its-kind market design where gamers have fractional ownership of a real-world real estate asset. PlayEstates has an elite team of real estate professionals who are in charge of finding top-notch properties, with the best price-performance ratio. At PlayEstates, they understand that having a high APY is important, but so is the condition of the property and location— which is why they only select high quality assets to invest in. Gamers will own part of these real estate assets simply by owning the PlayEstates’ fractional token. By leveraging blockchain technology and Web3, PlayEstates has fractionalized ownership of real world assets in the form of NFTs. The NFTs will serve as rewards for the members of the community. The PlayEstates’ fractional token (PFT) is instrumental to the functionality of this model. The real assets provide a stable collateral not only for the PFT tokens but also for the platforms’ utility token, OWND, which allow holders to transact, play games, and earn rewards in different PlayEstate games. Anyone can be a player and enjoy the ESTATES-backed games and earn OWND tokens in the process. Players will also have chances to earn the PFTs which represent fractional ownership of a real estate asset and serve as proof of ownership. Traditional real estate assets are generally illiquid; therefore, it is often difficult to sell them quickly. However, with the PFTs, one can easily sell off whenever they want. These PlayEstates’ fractional tokens afford holders with many opportunities such as owning an increased percentage of real estate assets and earning passive income. The PFT holders can also sell the token for cash or exchange it for other cryptocurrencies. They can also partake in decision making processes within the PlayEstates’ ecosystem. PlayEstates also introduces the membership token for people to use as a gateway to their platform. About PlayEstates PlayEstates is the first play-to-earn blockchain-powered gaming platform to enable gamers to own real-world real estate assets. The platform combines exciting gaming experience with real earning opportunities in real estate ownership. It enables gamers to reduce the uncertainty of owning uncollateralized crypto assets. Unlike other GameFi projects, PlayEstates’ ecosystem allows users to build and accumulate wealth over time. The users can decide to sell for quick profits, or they can choose to accumulate assets and build a unique portfolio for the future. The project founders have combined experience in gaming, real estate, venture capital, and the international business market. According to the team, they aim to help gamers worldwide have their own house, starting with fractional ownership of real estate assets. Social Links Linkedln: https://www.linkedin.com/company/playestates Twitter: https://twitter.com/playestates Telegram: https://t.me/playestates YouTube: https://www.youtube.com/channel/UCzK1nobRnbD0zYa-9hL54Ig GitHub: https://github.com/PlayEstate Media Contact Brand: PlayEstates Contact: William Guo, CEO/Founder Email: info@playestates.com Website: https://playestates.com/ SOURCE: PlayEstates The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
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