FINTECH

Future FinTech Establishes a New Blockchain Division

Future FinTech | January 03, 2022

Future_FinTech_Establishes
Future FinTech Group Inc., a leading blockchain-based e-commerce business and a fintech service provider has now established a new blockchain division to its business. The new division will be responsible for managing the existing blockchain sector business. It will play a key role in formulating and executing strategic plans for business growth.

Future FinTech Group Inc. is a well-known blockchain e-commerce company. In Florida, it is the leading provider of financial technology. The company's operations include Chain Cloud Mall ("CCM"), a blockchain-based online shopping mall platform, and supply chain financing and services. The company is also engaged in the development of blockchain cryptocurrency mining.

Future FinTech has appointed Mr. Zhi as the president of the new division. He’ll be the key person to direct the company's blockchain business ahead. The primary mission of the new blockchain division is to develop, operate, and manage the company's bitcoin mining farm plans in the United States and Paraguay. Further, the mission is to coordinate with the Dubai-based digital currency trading service and crypto asset management business through its FTFT Capital Investments LLC subsidiary.

Mr. Yan has broad experience in blockchain and cryptocurrency. He has been general manager of Cloud Chain Network Technology (Tianjin) Co., Ltd. since February 2020. He also served as the Chief Technology Officer of the company between February 2018 and February 2020. Mr. Yan managed the development of the real-name blockchain-based e-commerce platform for Chain Cloud Mall.

We are enthusiastically developing a sophisticated and cutting-edge financial services platform and are also intent on executing a global expansion strategy for our cryptocurrency mining business. The establishment of this new division has come with responsibility for executing this strategy and underscores our commitment to being a leading firm in this sector."

Mr. Shanchun Huang, Chief Executive Officer of Future FinTech

Spotlight

As the festive season draws closer, commercial Banks are as well rolling out exciting products to not only tap into the unbanked but also ease access to finances. Barclays Bank is one of those that have introduced paper less banking to reduce on the time spent during transactions.

Spotlight

As the festive season draws closer, commercial Banks are as well rolling out exciting products to not only tap into the unbanked but also ease access to finances. Barclays Bank is one of those that have introduced paper less banking to reduce on the time spent during transactions.

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CORE BANKING

Mastercard Expands Open Banking Reach with Acquisition of Aiia

Mastercard | September 08, 2021

Mastercard today announced it has entered into an agreement to acquire Aiia, a leading European open banking technology provider offering a direct connection to banks through a single API, allowing its customers to develop and launch new digital solutions that meet the needs of everyday life, work and play. Open banking is democratizing financial services by putting consumers at the center of where and how their data is used to provide the services they want and need. Fintechs and banks use this consumer permissioned data to provide easier and more inclusive access to credit, personal financial management, digital wallets and payments services. Mastercard plays a central role in this ecosystem as a trusted intermediary and secure data network. “The value of open banking comes through empowering consumers and businesses to use their own data to obtain financial services solutions simply, securely and quickly. The addition of Aiia anchors our European open banking efforts and allows us to continue to meet our customers where they are,” said Craig Vosburg, Chief Product Officer, Mastercard. “As open banking continues to ignite innovation, we’re committed to providing a unique set of technology platforms, data connectivity and infrastructure combined with data privacy and security principles. This will help fintechs and financial institutions innovate, gather feedback and scale faster and more effectively than ever to power smarter, more meaningful experiences.” Today, Aiia’s open banking platform and expertise, including strong API connectivity and payment capabilities, has shown significant growth coupled with a relentless focus on quality. Aiia has brought to life a unique model for open banking in Europe, driven by data privacy, security, quality and access. Its customer-centric approach and ambition to create open banking that simply works complements Mastercard’s existing distribution channels, technology and data practices. “For the past decade, we have worked to build Aiia into a leading and quality-driven open banking platform, which has onboarded hundreds of banks and fintechs onto safe and secure open banking rails. We have worked closely alongside banks, customers and local authorities to ensure that our APIs show the true effect of open banking. We’re excited to become a part of Mastercard and progress our journey of empowering people to bring their financial data and accounts into play - safely and transparently,” said Rune Mai, CEO & Founder, Aiia. Solidifying a Foundation for Innovation Mastercard was an early advocate of open banking across the globe. The company has made bold moves to blend its proprietary technology and multi-rail payments expertise with strong partners offering complementary services. In 2019, Mastercard launched its first open banking connectivity offering in the UK and Poland through a partnership with Token. With the acquisition of Finicity in 2020, Mastercard bolstered a strong commitment to its customers by bringing together top-tier technology platforms, dedicated resources and a global infrastructure to catalyze innovation and continue to deliver localized customer service. This commitment continued earlier in 2021 with Mastercard Payment Services, a broader set of account-to-account payment and open banking capabilities gained in the acquisition of the majority of Nets’ Corporate Services business. Aiia’s expertise in providing safe and secure data access complements Mastercard’s data responsibility principles, continuing to put the individual at the center of the process. This relationship reinforces work led by Mastercard’s Finicity team to extend data-related best practices across multiple industries. The connectivity of Aiia in Europe will enable Mastercard to deliver the credit decisioning and credit scoring applications of Finicity to European clients. Similarly, the connectivity of Finicity in the U.S. will help deliver the account information services and payment applications of Aiia to U.S. clients – giving customers globally easier, faster and safer access to open banking services. Aiia is a licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) and operates under the supervision of the Danish Financial Supervisory Authority (FSA). About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About Aiia Aiia is a leading open banking platform in Europe, with more than a decade of experience in fintech and with hundreds of clients servicing both businesses and consumers. The mission of Aiia is to empower people to bring their financial data and accounts into play safely and transparently. Aiia’s platform allows businesses and financial institutions to integrate financial data and account-to-account payments into their services for millions of European citizens. Today, Aiia has connections to more than 2,700 banks across Europe, processes more than 10 million bank logins, and more than a million account-to-account payments every month for large banks and e-commerce payment gateways. Aiia provides open banking services to a long list of banks, challenger banks, fintechs, accounting system providers and payment companies. Aiia won the award for Best Mobile Payment Solution at Finovate Awards in 2020 for live open banking payment solutions built with its customers.

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PAYMENTS

Payments and DeFi-centric Blockchain, Fuse Network, Announces Major Integration with Sushi

Sushi | January 19, 2022

In a major milestone for the project, a leading payment and decentralized finance (DeFi) blockchain player, Fuse Network, today announced their integration with leading mutlichain DeFi protocol Sushi. This comes after rapid platform and ecosystem growth for Fuse. Launched in 2020, Sushi's components include a decentralized exchange (DEX) protocol, the Kashi lending protocol, the BentoBox dApps ecosystem, the xSUSHI staking platform, the Miso initial DEX offering (IDO) platform and the upcoming Shōyu NFT marketplace. Sushi's native SUSHI token powers the platform's governance and is used to reward the liquidity providers on the incentivized trading pools on SushiSwap. As part of the integration, the SushiSwap automated market maker (AMM)-based decentralized exchange (DEX) and the liquidity provisioning interface have been deployed to the Fuse Network blockchain. At a later stage, the Kashi lending network and Miso initial DEX offering platform will be added. In order to bootstrap liquidity to the new major DEX, Fuse will also launch liquidity rewards programs on certain trading pools on SushiSwap. The exact trading pools and details of the program will be announced separately. Sushi is a multichain powerhouse in the DeFi space that was among the technology's pioneers before it was cool. Sushi's extension to Fuse is testimony to the progress that Fuse has made since its launch and its unique value proposition as a mobile-centric blockchain platform." Fuse Network CEO Mark Smargon About Fuse Fuse is a platform featuring a fast and low-cost, Ethereum-compatible blockchain, a robust plug-and-play mobile-centric crypto payments infrastructure for creating token-based applications and a rapidly growing ecosystem of payments, decentralized finance and NFT projects. About Sushi Sushi is a leading all-in-one DeFi platform and ecosystem running on multiple EVM-compatible blockchains. At its core it relies on the AMM-based DEX SushiSwap that is listed in the top 5 DEXes by trading volume. Sushi's community governance is powered by the protocol's native SUSHI token.

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CORE BANKING

TransferGo to select Thought Machine for driving global expansion

TransferGo, Thought Machine | February 12, 2021

TransferGo, a money transfer company, announced a partnership with a cloud-native core banking technology company, Thought Machine. The partnership aims to propel its drive global expansion into markets and continuous product innovation. By taking benefit of Thought Machine's next group cloud-native core banking platform Vault, TransferGo will emphasize empowering its client experience through more and better progressive platform competencies. Structuring on a fruitful 2020, throughout which TransferGo challenged market prospects to see international payments raise by over 60%, Vault will be a dire constituent for continued development. By holding payment services that are extremely scalable, stretchy, safe, and reckless in the cloud, Vault will authorize TransferGo to enlarge its real-time expenditures platform, shape products fast, and release upcoming card and account competencies without interruption. Prominently, Vault covers no inheritance technology and so allows TransferGo to shape and bring payment services to its correct requirements. The know-how will provision TransferGo's assignment to unceasingly drive development to its numerical payments facility and the client capability for the migrant employee community, serving them to transfer their money around the world rapidly, securely, and as cost-effectively as possible. This announcement echoes the sustained venture TransferGo is making in its award-winning payments platform. With over 2 million operators and safeguarding over $14 million in savings last year, it is dedicated to increasing its global footmark and initiate new facilities on its international payments platform. TransferGo also lately joined with Mastercard and Visa and boosted its senior management team through the hires of Francesco Fulcoli as Chief Compliance Officer and Edgardo Savoy as Chief Technology Officer and. These new growths will superpower its roadmap of technology innovation About TransferGo TransferGo, founded in 2012, has recognized itself as one of the maximum reliable money transfer facilities around the world. Its emphasis on bringing fast and reliable remittances has directed it to develop the only Pan-European money transfer business that can assure a person's money will reach its destination in less than 30 minutes. CEO and founder, Daumantas Dvilinskas, was included in the Forbes 30 under 30 of 2017. The company was also nominated for "Fastest Rising Startup of the Year" and listed by TNW as one of five hottest UK start-ups in 2019. About Thought Machine Founded in 2014, Thought Machine has the mission to make banks organize modern systems. Also, move them away from the traditional IT platforms that make the banking industry standstill. We do this through Vault, our cloud-native core banking platform. This next-generation scheme has been written from nothing as a fully cloud-native platform. It does not cover a single line of code which is pre-cloud. The company was founded by Paul Taylor, a well-known entrepreneur. Customers of Thought Machine include SEB, Lloyds Banking Group, Standard Chartered, Monese, Curve, and Atom bank. We are presently a group of more than 450 people with offices in Singapore, London, Melbourne, Sydney, and New York. We have also raised funding OF more than £110m from Draper Esprit, Eurazeo, SEB, IQ Capital, Playfair Capital, British Patient Capital, Lloyds Banking Group, Nyca Partners, and Backed.

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