BITCOIN AND CRYPTO
TechX Technologies Inc. | July 17, 2021
TechX Technologies Inc., a technology-driven company that makes traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that, in accordance with the Company's May 26, 2021 news release, TechX has completed the acquisition of Mobilum OÜ ("Mobilum").
TechX also stated that the Board of Directors has authorised a name change from "TechX Technologies Inc." to "Mobilum Technologies Inc." and a ticker symbol change to "MBLM" on the Canadian Securities Exchange ("CSE"). The Company will publish another press release indicating the effective date for trading under the new name, symbol, and CUSIP number. The change in name is still subject to CSE clearance.
Mobilum is a licenced plug-and-play fiat-to-crypto gateway and payment processing technology solution for exchanges, wallets, brokers, liquidity providers, and cryptocurrency businesses, as well as a financial technology start-up that offers fiat infrastructure to the cryptocurrency sector. Mobilum's easy-to-use on-ramp and off-ramp solution simplifies integration for businesses whose customers purchase and sell cryptocurrency using credit and debit cards. Mobilum promises 0% chargebacks, the best acceptance rates, and the industry's lowest transaction costs (at 2.99 percent).
"We are overjoyed to have acquired Mobilum's on-ramp, off-ramp, and digital wallet technology," stated TechX CEO Peter Green. "We plan to swiftly increase from the $150,000 in daily processing volumes we are presently performing with the infusion of cash from our most recent fundraising round by expanding the on-ramp offering to additional cryptocurrency exchanges and businesses. We're also looking forward to introducing the gift and payment card off-ramp, as well as the digital wallet solution, near the end of Q3. Decentralized finance is clearly gaining worldwide popularity, and we are thrilled to be a part of this multibillion-dollar game-changing sector."
The Transaction
TechX has purchased a 100% stake in Mobilum in exchange for 26,666,667 common shares in the capital of the Company (the "Shares") at a presumed value of $0.60 per Share for a total consideration of C$16,000,000. The Shares are subject to a four-month and one-day hold period from the date of issue.
About TechX Technologies:
TechX Solutions Inc. is a technology-driven firm that makes conventional banking more accessible by utilising compliant digital payment infrastructure and digital asset management technologies.
About Mobilum
Mobilum, a fintech start-up that provides the cryptocurrency sector with fiat infrastructure, has a licenced plug-and-play fiat-to-crypto gateway and payment processing technology solution enabling exchanges, wallets, brokers, liquidity providers, and cryptocurrency enterprises. Mobilum's easy-to-use on-ramp and off-ramp solution makes it simple for companies to enable consumers to purchase and trade cryptocurrencies using credit and debit cards. The Mobilum digital wallet will provide its clients competitive rates on over 237 cryptocurrencies, as well as the ability to earn significant interest incentives and returns with DeFi.
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INVESTMENT MANAGEMENT
Adhesion Wealth | August 31, 2021
Adhesion Wealth®, a managed account provider for registered investment advisors (RIAs), today announced it has entered into a partnership with Addepar, a leading technology platform for wealth management.
Through this partnership, RIAs can benefit from greater reporting flexibility and recoup costly administrative time. Adhesion advisors may gain access to Addepar's category-leading portfolio reporting and analytics platform, which enables them to deliver robust analysis and actionable insights to clients at a higher level of detail. The Addepar platform aggregates data from more than 250 proprietary data feeds and seamlessly integrates with advisory firms' existing software through modern APIs, allowing them to deliver a tailored and differentiated client experience.
"I was thrilled to learn of the new partnership between Adhesion and Addepar. With the two firms combining forces, it takes one of the best-in-class UMA platforms and pairs it with the preeminent client reporting technology to give advisors the ability to provide their clients a complete view into the UMA, analyze performance at the manager level, and have better, more productive conversations with clients," said Stan Gregor, CEO of Summit Financial Holdings. "Summit is continually evolving by providing the latest top-tier technology to enhance client-advisor relationships, and this new offering is a perfect complement to our SummitVantageTM platform that creates additional value-add in our recruiting efforts."
Addepar clients who seek Unified Managed Account (UMA) and Separately Managed Account (SMA) capabilities benefit from a seamless data integration with Adhesion. Combined with enhanced sleeve-level reporting capabilities, advisors are able to access powerful tools to help their clients implement sophisticated managed-portfolio solutions with ease while also monitoring fees and implementing valuable tax optimization overlay strategies.
"This partnership represents a huge step forward for productivity and integration in wealth management," said Barrett Ayers, President of Adhesion Wealth. "The Addepar platform is, in our estimation, the best reporting system on the market today. We are excited to give advisors on the Adhesion platform access to their powerful suite of portfolio analytics."
"We have maintained an unwavering commitment to building a best-in-class investment platform driven by client obsession," said Addepar President David Obrand. "We are thrilled to make this offering more widely available through our partnership with Adhesion and provide greater access to investment solutions for investors predicated on freedom of choice."
About Adhesion Wealth
Adhesion Wealth® is a leading provider of outsourced investment management solutions for registered investment advisors (RIAs). Adhesion Wealth empowers advisors with the ability to build their own multi-manager (UMA) strategies, access SMA strategies and use other turnkey investment solutions on the Adhesion Manager Exchange. Adhesion Wealth also provides advisors with personal and direct indexing, tax management, tax transitions, portfolio administration, practice analytics and client reporting. With Adhesion, advisors gain access to a scalable, multi-custodian platform upon which to grow successful practices.
About Addepar
Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. Founded in 2009 by Joe Lonsdale, who currently serves as an active Chairman of its Board of Directors and General Partner at 8VC, the company's platform aggregates portfolio, market and client data all in one place. It provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions. Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for over $3 trillion of assets on the company's platform.
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FINTECH
AWS | May 05, 2021
Amazon Web Services, Inc. a subsidiary of Amazon.com, Inc. today unveiled Amazon FinSpace, a purpose-built analytics tool that cuts the time it takes FSI companies to locate, plan, and evaluate financial data from months to minutes. Amazon FinSpace collects, indexes and tags data from around an organization's data silos, making it searchable by the entire organisation. This service also includes Apache Spark analytics engine, which contains over 100 data transformations commonly used in the capital market industries to curate data for analysis at petabyte scales. Amazon FinSpace ensures that data access controls are applied and use is monitored at all times, making it easier for FSI organisations to fulfil their enforcement requirements.
The analysts of hedge funds, asset management firms, insurance companies, investment banks, and other FSI organizations can get more benefits with Amazon FinSpace, that gives access to the information they need as well as it empowers them to create thorough analytics on demand to all of its collected data.
Customers only pay for the data stored, the users allowed, and the software used to prepare and analyse data. There are no upfront costs or obligations to use Amazon FinSpace.
Every day, FSI organisations generate and compile petabytes of data from internal sources such as portfolio management, managements systems, order management systems, and execution management systems, as well as third-party data feeds such as high-volume historical equities pricing data, job statistics, and earnings results. These companies want to use the massive amounts of data they have at their disposal to gain insights that will help them find potential revenue streams, attract and retain customers, and minimise costs or risk. However, before data can be processed, FSI firms usually spend months locating the appropriate data to prepare it for review.
Since FSI organisations store data in warehouses dispersed throughout the departments that specialise in particular assets or geographical areas and produce specialised data, finding and analysing data takes time (e.g. options, bonds, equities, Europe's mutual funds, Asian currency exchange, etc.). Furthermore, data access is tightly regulated and policy-controlled, which means analysts must explain to enforcement officers how their access will adhere to data usage policies before they can access the data. If they have access to the data, analysts must prepare it for analysis by conducting data transformations recursively in order to uncover new insights within the data. Stock market traders, for instance, often use technical measures such as Bollinger Bands, Exponential Moving Averages, and Average True Range to detect previously unknown trends and patterns. The data analytics tools available for analysts today designed to operate on a single computer and were not intended to take advantage of the cloud's size and capacity to perform heavy analysis on demand.
As a result, these analysts must either use small representative datasets that restrict predictive ability, or the data must be manually broken up into several subsets, transformed piecemeal, and manually recombined.
Neither method is optimal or efficient.
Amazon FinSpace addresses the challenges that FSI organisations face by dramatically simplifying the steps required to identify, plan, and analyse data, reducing the time required from months to minutes. Customers start by ingesting data into Amazon FinSpace through the service's Application Programming Interface (API) or a drag-and-drop interface in the web application from internal information storage facilities or third-party data feeds. Customers can find data by browsing a visual catalogue and searching for familiar market keywords such as “options trades over the last three years or U.S. automotive bonds” from inside the web application.
Amazon FinSpace provides built-in classification schemas for popular FSI data sources (e.g., trades, corporate activities, and economic data) that customers can configure to their specific needs, allowing the data to be structured in an easy-to-find and easy-to-share format. It also tracks and processes regular changes and corrections for datasets in order to generate point-in-time views to test modelling assumptions and display what data was used to guide past decisions for historical review.
While Announcing FinSpace, Saman Michael Far, Vice President of Financial Services Technology, Amazon Web Services comments “Significant quantities of data are generated and purchased by FSI organisations, but using this data is difficult due to the time and effort required to obtain and prepare data for analysis.” He also adds, “For FSI organisations, Amazon FinSpace is a game changer as it drastically decreases the time it takes FSI customers to perform analytics across petabytes of data, making it much easier for them to find new revenue streams, attract customers, and reduce cost and risk.”
Amazon FinSpace is currently accessible in the United States East (North Carolina), United States East (Ohio), United States West (Oregon), Canada (Central), and Europe (Ireland), with additional regions to follow.
About Amazon Web Services
Amazon Web Services has been the world's most comprehensive and widely used cloud network for over 15 years.
AWS has been steadily expanding its offerings to accommodate almost every cloud workload, and it now offers more than 200 fully featured services to millions of customers, including fast-growing start-ups and large enterprises. Start-ups, major corporations, and leading government agencies depend on AWS to power their infrastructure, allowing them to become more agile and reduce costs.
About Amazon
Amazon is motivated by four principles: customer obsession over competitor attention, a desire for invention, a dedication to organisational excellence, and long-term planning than short term- gain. Amazon aspires to be the World's Most Customer-Centric Company, the World's Best Employer, and the World's Safest Place to Work.
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