PAYMENTS
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.
Read More
BITCOIN AND CRYPTO
Digital Currency Monetary Authority | June 27, 2022
A framework for expanded usage of cryptocurrencies and digital assets in banking and financial services has been introduced by the Digital Currency Monetary Authority (DCMA).
Since 2013, the executive team of the DCMA has collaborated with governments and central banks on blockchain technology and cryptography related to digital currency. The European Commission, the United Nations, and the World Economic Forum have all highlighted their efforts.
Meeting with the People's Bank of China (PBOC) in 2018 led to the development of the DCMA's goal. A founding member of the DCMA, Darrell Hubbard, accepted an invitation from the PBOC to meet with them in Beijing to talk about the prospects for digital currencies and specifics of their digital yuan initiative.
The guidelines and protocol for Crypto 2.0 were released by Universal Monetary Unit, a DCMA affiliate working with significant central banks. Only governments, regulated institutions, and authorized Fintech companies have access to the framework, which is funded by the Unicoin network.
Globally decentralized network of digital financial services, Unicoin. A Financial Services Provider (FSP) is required to access the Unicoin network, just as an Internet Service Provider (ISP) is required to access the Internet. A store of value cryptocurrency called Unicoin will be managed by central bank members of the DCMA. It is a semi-decentralized network with monetary regulations.
When Unicoin and Yubi, one of DCMA's Fintech digital banking projects, shared the Innovation of the Year Award during Hong Kong Blockchain Week in 2020, it made its debut on the global scene.
Read More
BLOCKCHAIN
Flipside | June 30, 2022
ShroomDK, an NFT-based SDK that offers programmatic query access to the most complete blockchain data available anywhere, was just released by Flipside Crypto, a leading blockchain ecosystem growth and analytics business.
Open access to blockchain data is a foundational component to enabling the growth of Web3 ecosystems. The ability to query that data programmatically has been a critical piece of missing infrastructure for blockchain developers and analysts. An SDK solves that, but one enabled via a SaaS-inspired NFT brings added Web3 advantages of not just community, but flexibility for future utilization. It might be upgrades to additional toolkits, power-ups, or even the ability to sell components of your access if you determine it's no longer a fit."
Jim Myers, Co-Founder and CTO, Flipside Crypto
Developers can programmatically query data on a wide range of blockchains using ShroomDK NFTs, including historical state Ethereum access, Layer 2s like Arbitrum and Optimism, additional EVMs like Avalanche and Binance Smart Chain, and multi-chain access to Flipside L1 partners like Solana, NEAR, FLOW, Thorchain, and Algorand.
An SDK is about applying data to nurture and grow products and derive benefits via insights. Mushrooms are very similar, as they release spores that germinate and spur new growth, and then decay into nutrients that feed the entire ecosystem."
Dave Balter, Co-Founder and Chief Executive Officer (CEO), Flipside Crypto
Read More