METACO | May 27, 2022
LevelField Financial, the premier U.S. financial services firm uniting digital assets and traditional banking services in one trusted platform has selected METACO, the market-leading provider of digital asset custody orchestration technology to complex, global financial institutions. LevelField is deploying its institutional digital asset management operations on IBM Cloud in order to leverage the confidential computing capabilities of IBM's digital asset infrastructure.
Founded by banking executives with decades of global experience, LevelField is in the process of acquiring a federally chartered bank in the United States. To launch its digital asset offering, LevelField will use METACO's digital asset custody and orchestration platform, Harmonize, helping enable clients to securely store, trade, and settle digital assets. Harmonize was built in partnership with Tier 1 banks and offers the highest standards of security and compliance for LevelField to operate in the digital assets sector. This foundational infrastructure provides LevelField with the option to further expand its digital asset offering in the future, in a highly-scalable and efficient manner.
LevelField will deploy Harmonize, which is supported by IBM Cloud Hyper Protect Services¹. This setup will allow LevelField to scale to millions of wallets, while maintaining control over private keys for risk management. IBM's Digital Asset Infrastructure is designed to help custodians achieve greater results when using METACO's Harmonize platform, including enhanced scalability, security, and compliance.
IBM Cloud Hyper Protect Crypto Services is designed to enable METACO Vaults to store encrypted keys externally in a database while affording the protections of IBM's FIPS 140-2 Level 4 rated hardware security modules (HSM). With external storage of keys enabled by IBM's master encryption key technology, custodians can scale to billions of wallets. The sensitive processing on METACO Harmonize is secured by IBM Cloud Hyper Protect Virtual Servers hardware-based, Common Criteria-certified isolation. IBM Cloud Hyper Protect Secure Build Server is designed to reduce risks of malicious code insertion during Harmonize deployments and address unauthorized rule manipulation by working to make policies on the platform tamper proof. Irrespective of how Harmonize is consumed, custodians retain physical control of the root of trust of the assets and the policies that govern management of the assets, through the IBM HSM Smartcards.
We're pleased to support LevelField in realizing its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future. Harmonize provides bank-grade security and compliance for the custody and management of digital assets, as well as the agility for innovative firms like LevelField to go-to-market and scale quickly. With a flexible governance policy framework that can be applied to any type of digital asset transaction, a no-single-point-of-failure model, and the optionality to expand and offer any type of digital asset services, Harmonize provides a highly secure and flexible foundation for LevelField to manage its digital asset operations, both today and well into the future."
Seamus Donoghue, VP of Strategic Alliances at METACO.
Established in Houston in 2018, and currently pending a banking charter, LevelField aims to blend digital banking, securities, and digital assets to provide a comprehensive banking service for the digital economy. The firm is building a customer- focused financial services platform for digital and traditional assets that leverages the strengths of the U.S. banking system, is built on a solid foundation of regulatory compliance, and draws on its management team's expertise across traditional banking.
LevelField is comprised of career bankers who deeply understand the importance of compliance and security. We searched for the platform that would enable us to meet our rigorous standards for security and compliance, while also giving us the flexibility to grow our digital asset business in any direction. METACO's Harmonize orchestration platform, supported by IBM Cloud Hyper Protect Services, is the ideal solution and something which may become the gold-standard in the industry. This infrastructure enables us to demonstrate our compliance and the highest levels of security no matter what area of digital assets we expand into."
Michael Clayton, CTO, LevelField.
Founded in 2015 in Switzerland, METACO is a technology company whose mission is to enable financial and non-financial institutions to securely manage their digital asset business and capitalize on the burgeoning digital asset economy.
The company's core product, Harmonize, is an orchestration system for digital assets. From cryptocurrency custody and trading to tokenization, staking, and smart contract management, the platform seamlessly connects institutions to the new world of decentralized finance (DeFi).
Stampli | May 20, 2022
Stampli, a B2B Fintech leader in Accounts Payable (AP) Automation, today unveils Stampli Insights for Accounts Payable teams to gain complete visibility into their AP data to optimize workflows and improve operational efficiencies with their invoice automation and processing.
Stampli Insights brings together three built-in capabilities available in the Stampli platform including Advanced Search, Stampli Reports, and the newly launched Stampli Dashboards.
With Stampli Insights, customers can easily search, visualize, and drill down into accounts payable data so they can make more informed decisions for their business, Stampli has always provided full visibility into the invoice lifecycle for our customers, but now CFOs and Controllers can unlock that underlying data to improve operational efficiencies, identify approval bottlenecks, maximize employee productivity, and strengthen great supplier relations."
Tiffaney Fox Quintana, Vice President of Marketing at Stampli.
Stampli currently has United States office locations in Mountain View, California and Nashville, Tennessee, and internationally in Tel Aviv, Israel and Kiev, Ukraine. Stampli was most recently recognized in G2's 2022 Best Software Awards for "Best Software Products," "Best Accounting & Finance Products," "Best Mid-Market Products," and "Highest Satisfaction Products." Stampli also earned recognition as "The Best AP Solution for 2022" in the FinTech Breakthrough Awards; named on the "Top Fintech Companies of 2021" list by CB Insights; designated one of the "Top 50 Most Promising Startups in Israel" by CTech; named "The Best AP Automation Company in the USA" from New World Report; earned top marks by Comparably for "Best Company Outlook," "Best Company Work-Life Balance," "Best CEO," "Best Company for Women," "Best Company for Diversity," and "Best Company Culture."
Stampli is a complete AP automation platform that brings together accounts payable communications, documentation, corporate cards, and payments all in one place, allowing AP to have full control and visibility over corporate spending. By centering communications on top of the invoice itself, AP departments collaborate and communicate better with approvers, vendors, and anyone else involved with purchases, allowing approvals to happen 5x faster.
In addition, Stampli's AI, Billy the Bot, learns an organization's unique patterns to simplify GL-coding, automate approval notifications, identify duplicate invoices, and reduce time spent on manual data entry. Stampli's flexible platform fits seamlessly into any existing processes and integrates with financial systems, including NetSuite, Sage Intacct, QuickBooks, Microsoft Dynamics, SAP, and more.
Choice; Nexa Equity | April 27, 2022
Nexa Equity LLC, a private equity firm focused on scaling lower middle market software and fintech businesses, announced today that it has acquired Choice Inc., a leading global payments platform. Additionally, Choice has acquired Direct Payment Consultants, a payments provider that partners directly with merchants. After the acquisition, Choice's platform will process more than $3 billion in annual payments volume across 7,000+ customers in the United States and Canada. The founding teams of both Choice and Direct Payment Consultants each continue to hold a meaningful stake in the combined business. Financial terms of the transactions were not disclosed.
The Choice global payments platform provides advanced, end-to-end omnichannel commerce solutions to merchants and technology companies of all sizes. The company's modern payment integrations and business management solutions empower independent software vendors (ISVs), payment facilitators (PayFacs), enterprise merchants and independent sales organizations (ISOs) to enable their merchants to accept multiple electronic payment types and tools to scale their businesses.
Direct Payment Consultants is focused on helping merchants complete end-to-end payment transactions for their businesses. Combined with Choice's leading platform, the customers of Choice and Direct Payment Consultants will benefit from an expanded product portfolio and the shared knowledge of operators with a deep understanding of the payments space.
Choice's mission to modernize the convergence of payments and technology to transform the future of commerce aligns well with Nexa Equity's investment strategy, We look forward to scaling the Choice platform through organic initiatives while continuing to actively pursue strategic acquisitions like Direct Payment Consultants."
Nexa Founder and Managing Partner Vlad Besprozvany.
Nexa Equity's investment will augment Choice's go-to-market team and enhance its omnichannel fintech platform. The platform includes a payment gateway, application programming interfaces (API), point-of-sale-software, invoicing, recurring billing, embedded financing, real-time underwriting, and comprehensive partner and merchant reporting.
We wanted to bring on a capital partner that understands our business, goals and end customer, and we found that in Nexa Equity, Choice is laser focused on providing customers with the most comprehensive and cutting-edge omnichannel payment solutions in the industry to benefit all parties in the equation. Our acquisition of Direct Payment Consultants will enable us to execute on this vision even further and I'm thrilled to have the Direct Payment Consultants team join us and to take Choice to the next level together."
Choice CEO John Paul Golino.
We are excited to join forces with Choice and to enhance our service to customers by offering them the proprietary software and tools in Choice's platform, The combination solidifies our ability to deliver a leading integrated payments solution to our customers and partners, and we look forward to what we will achieve as a combined team."
Direct Payment Consultants CEO Jim Black.
About Nexa Equity
Nexa Equity is a San Francisco, California based private equity firm that partners with founder-led, rapidly scaling SaaS and fintech companies that address markets underserved by technology to create enduring value for the benefit of its investors and portfolio companies. The firm has more than $250 million in private equity capital under management and is focused on continuing to grow its portfolio of companies. The Nexa Equity team brings substantial investing and operational experience to the table and helps management teams professionalize and scale their businesses and drive long-term sustainable growth.
About Choice Merchant Solutions
Choice is a fast-growing payments and technology fintech that offers merchants a robust, omnichannel commerce experience. The company's proprietary technology platform integrates seamlessly into software vendor technology stacks, enabling embedded payment monetization along with fraud management tools, analytics and comprehensive reporting for ISVs and their merchants.
About Direct Payment Consultants
Direct Payment Consultants is a Pennsylvania based payments company. Direct Payment Consultants partners with businesses across the country to accept all major payment cards. The company is committed to offering customers best-in-class payment processing services, alongside cost saving measures, to enable customers to drive better business results.
BitGo | June 09, 2022
FlyCoin, Inc., a cryptocurrency-based travel rewards technology company, announces today their partnership with BitGo, the industry's gold standard for custody and security solutions. FlyCoin will hold a significant portion of the company's minted cryptocurrency token, FLY in BitGo's US Qualified Custody Solution. The announcement comes on the heels of Flycoin's $33M seed funding earlier this year.
"As we continue to grow Flycoin's ecosystem of partners and end-users, it is critical that we properly safeguard these digital assets. BitGo's reputation and credibility as a global leader in digital asset cryptocurrency are unmatched, and a key factor in our decision to partner with them in this capacity," stated Lenny Moon, Flycoin's CEO.
Custodians of crypto assets play an essential role in storing and securing digital assets, while also interacting directly with brokers and exchanges to facilitate transactions for institutional and individual stakeholders. BitGo's global reach , and other platform services in addition to providing qualified custody, align well with Flycoin's focus on scaling its rewards platform offerings globally.
"I am very pleased to work closely with the FlyCoin team and for BitGo to be a trusted partner in their journey to revolutionize the travel rewards industry through the use of blockchain technology" said Kai Kono, Managing Director, Global Head of Digital Asset Sales, BitGo.
Flycoin's partnership with BitGo will go a long way toward further enhancing their portfolio of partners. Last month, the company announced major crypto heavyweights Lisa Nestor and Rena Shah as strategic members of their advisory team. Other Flycoin partners include ThanksAgain, and Ravn Alaska Airlines.
BitGo is the leader in digital asset financial services, providing institutional investors with custody, liquidity, and security solutions. Active in both centralized and decentralized finance, BitGo offers market leading trading, lending, and borrowing services through its prime brokerage services and acts as the custodian for WBTC, the leading global stablecoin for Bitcoin. In 2020, BitGo launched BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes approximately 20% of all global Bitcoin transactions, and supports over 500 coins and tokens. BitGo's customer base includes the world's largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners.
About FlyCoin, Inc.
FlyCoin represents the evolution of loyalty programs. FlyCoin's revolutionary technology infrastructure provides companies in the consumer loyalty space - including travel and hospitality, insurance and benefits, financial services, and more, with a powerful, turnkey solution to incentivize users in a more customer-centric way. Users can earn FlyCoin's newly minted token, FLY, reward doesn't expire, is easily transferable, and has an abundance of redemption options.