LianLian Global | June 27, 2022
LianLian Global, a leading global cross-border payment service provider, announced the launch of its multi-currency Cross-Border Wallet after securing licenses to operate in all 50 states. The cross-border digital wallet is designed to make payments faster, more accessible and cheaper than the traditional cash and bank transfers for U.S.-based retailers and merchants that sell their products internationally on marketplaces such as Allegro, Amazon, Cdiscount, Fruugo and Kaufland.de.
Data Catalyst found that almost 70 percent of U.S. SMEs use third-party online marketplaces or their web store, with most firms opting to use multiple online markets. However, despite having such a significant digital presence and many selling to multiple countries, cross-border payments remain a significant challenge for U.S. businesses, especially small and medium-sized organizations looking to make payments in less familiar, emerging market currencies in Africa, Asia and the Middle East.
For instance, the evolving international regulatory requirements and capital control policies concerning the transfer and movement of funds in local currencies adds a considerable compliance burden for many U.S. ecommerce businesses. This is particularly true in relation to China, Vietnam and other vital Asian supply chain hubs. Such supplier payment challenges can significantly impact the supply of goods and services from those regions. LianLian Global's Cross-Border Wallet is designed to address these concerns by enabling U.S. businesses to make and receive payments or convert U.S. Dollars to certain regional currencies quickly and compliantly.
The introduction of LianLian Global's Cross-Border Wallet virtually eliminates the bureaucratic burden of facilitating payments between Western businesses, customers and suppliers in China and other emerging markets worldwide. LianLian Global allows ecommerce customers of all sizes to make payments up to U.S.$1.5 million at a time. Additionally, the wallet can hold multiple currencies, including U.S. Dollar, Canadian Dollar, Hong Kong Dollar, British Pound Sterling, European Euro, Chinese Yuan and Polish Złoty.
We are delighted to have launched our fully-licensed Cross-Border Wallet in the United States, and see the positive response from US businesses. This is an evolution of our globally trusted platform that our customers around the world have come to rely on, Our new cross-border wallet helps businesses of all sizes grow, by making it easy to manage multiple currencies on a single platform and do foreign exchange (FX) conversion at fair and transparent rates. Our aim is to help our U.S. customers better navigate the complexity of cross-border payments and the volatility of FX."
David Messenger, Executive Chairman, LianLian Global.
Unlike other prominent providers in the market, customers can use LianLian Global's Cross-Border Wallet without committing to an annual fee or (in certain countries including the U.S., U.K. and China) paying to open an account or receive payments. Instead, LianLian Global charges a fixed 0.5% rate for FX conversion, with even more competitive rates available to high-volume customers.
LianLian Global is a global cross-border payments provider with offices in 12 different countries that helps more than 1.2 million ecommerce stores grow their cross-border businesses. LianLian Global owns over 60 licenses worldwide, with full coverage in all 50 U.S. states. The company has also partnered with leading financial institutions such as Citi, Deutsche Bank, and J.P. Morgan to power their solutions.
About LianLian Global
LianLian Global is a leading cross-border payments company that connects local sellers to global opportunities. We make it easy for ecommerce merchants to do more international business. So when sellers need to receive international payouts, get financing, solve shipping logistics, manage foreign exchange, or pay tax obligations abroad, we simplify the complexity of operating in other countries, giving merchants and sellers the freedom to do business seamlessly. Part of LianLian Digitech, and with licenses and offices in the Americas, Europe and throughout Asia, LianLian Global is integrated into mainstream ecommerce platforms worldwide, with services covering more than 100 countries and regions.
CloudWalk | June 28, 2022
CloudWalk, a Brazilian fintech company that offers payment solutions for small and medium-sized businesses, has reached a new milestone: it will launch its own blockchain, a ledger that records cryptocurrency transactions and operations. This announcement comes just seven months after CloudWalk announced it had raised US$150 million in a new investment round and had reached a market valuation of US$2.15 billion.
To grow the business is the objective, which has already been accomplished. With its own network, it can process 500 transactions per second, which is 70 times more than before it was based on Ethereum and Polygon and other blockchain platforms. The ambitious target for the upcoming months is to process 5,000 transactions per second.
Blockchain makes this speed possible. For instance, it can take up to a day for store owners to collect their money when they use Visa or Master. They can receive the funds in as little as two seconds using blockchain and our currency, The proprietary ecosystem will be responsible for the entire Smart Lending platform, which includes money storage, as well as authorization and settlement of payment transactions. CloudWalk intends to make the financial industry more agile and efficient."
Luis Silva, The CEO and Founder, CloudWalk
SGH | June 30, 2022
SMART Global Holdings, Inc. (“SGH” or the “Company”) (Nasdaq: SGH) today announced that it has entered into a definitive agreement with affiliates of Siris Capital Group, LLC, to acquire Stratus Technologies (“Stratus”), a global leader in simplified, protected, and autonomous computing solutions in the data center and at the Edge. Under the terms of the agreement, SGH will pay $225 million in cash at closing and an earn-out payment of up to $50 million, based on the gross profit performance of the Stratus business during the first full 12 fiscal months of Stratus following the closing.
Consistent with the Company’s existing lines of business, Stratus delivers differentiated technology solutions to specialty end markets. In particular, the addition of Stratus’ high-availability, fault-tolerant computing platforms, software, and services will expand the Company’s Intelligent Platform Solutions (“IPS”) business to better serve Stratus and IPS customers worldwide.
This transaction builds upon our successful track record of M&A at SGH, The high-availability and fault-tolerant capabilities of Stratus will expand our IPS offerings in Edge, Core, and Cloud, and will enable us to more comprehensively address our combined customers’ needs. We look forward to welcoming the Stratus team to SGH.”
Mark Adams, CEO of SGH.
For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, Cloud and Data Center – driving uptime and efficiency.
At SGH, our companies are united by a drive to raise the bar, execute with discipline and focus on what’s next for the technologies that support and advance the world. Across computing, memory, and LED lighting solutions, we build long-term strategic partnerships with our customers. Backed by a proven leadership team, we operate with excellence around the globe while unlocking new avenues of growth for our business and industry.
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris' development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris' Executive Partners and Advisors are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York, Silicon Valley and West Palm Beach, and has raised nearly $6 billion in cumulative capital commitments.