FINANCIAL MANAGEMENT

SparkCognition Took Over Financial Technology Company AIM2

SparkCognition, AIM2 | February 24, 2021

SparkCognition announced that it agreed to acquire AIM2 from hedge fund management company Brevan Howard and global investment bank Nomura. Being the world's leading industrial artificial intelligence (AI) company, SparkCognition aims to expand further into financial services and with more capabilities in the future.

SparkCognition has also executed contracts with both Brevan Howard and Nomura. They will allow SparkCognition to expand its AI capabilities and meet the needs of its customers across the globe.

AIM2 got launched in 2015 and became a major joint venture between Brevan Howard and Nomura in 2019. It is a financial technology company. It transformed market-making and quantitative investment strategy with cutting-edge artificial intelligence products.

With this agreement, SparkCognition will begin providing AIM2's products and technology. This includes Alpha Cycles, ORCA/AI Trader, and Alpha Waves. This will also allow SparkCognition to extend opportunities in financial services. It would also provide a comprehensive portfolio of AI offerings complementing products such as Darwin, DeepNLP, and DeepArmor

On this, SparkCognition CEO Amir Husain mentioned this acquisition is yet to be finalized and would move the AIM2 team and products under the SparkCognition umbrella. Continuing to work with the accomplishments of Brevan Howard and Nomura will allow accelerating the momentum of SparkCognition’s capabilities in financial services and position it at the heart of this industry.

SparkCognition's unique skill set coupled with AIM2's financial products and expertise will make the company recognized. Nomura is accelerating the global deployment of AIM2's ORCA/AI Trader across businesses. It will assist banks to drive their trading ecosystem for broad asset classes such as fixed income, credit, swaps, and FX.

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Other News
BITCOIN AND CRYPTO

CoinShares acquires Napoleon Asset Management, the first AIFM-regulated crypto asset manager

CoinShares | July 04, 2022

CoinShares International Limited (Nasdaq First North Growth Market: CS; US OTCQX: CNSRF) (“CoinShares”), Europe's largest and longest standing digital asset investment firm is pleased to announce that, following receipt of approval from the Autorité des Marchés Financiers (AMF), it has acquired Napoleon Asset Management, one of the first ever digital asset managers, licensed under the AIFM Directive since March 2019. The transaction signed and completed on 30 June 2022. The transaction follows the acquisition of the Napoleon Group last December and fits with CoinShares’ strategy of developing into a full-service digital asset investment and trading group, within a strong regulatory framework. CoinShares is a strong advocate of regulation in the digital asset industry and has an extensive list of regulated products and services. The Alternative Investment Fund Manager (“AIFM”) licence is one of the most rigorous European regulations for Asset Managers and is a key component in CoinShares' ambition to become the leading investment group in the digital asset sector. The acquisition of Napoleon Asset Management allows CoinShares to offer AIFM compliant products and services, in addition to its market leading position as an issuer of crypto Exchange Traded Products (ETPs). The AIFM licence carries a passporting regime that allows it to provide and market services and products throughout the European Union. The acquisition will also enhance CoinShares’ offering by leveraging active investment strategies based on algorithmic trading and artificial intelligence for digital assets built by Napoleon Asset Management quants teams. “After the recent events in the digital asset sector, it has never been more clear that strong regulation is needed for crypto to thrive. As such we are very pleased to have received this approval from the AMF to acquire Napoleon Asset Management. Bringing the company into our group is a further step in the right direction towards investor protection. We are proud to be one of the most regulated digital asset investment firms in the industry. Our regulated status in a growing number of jurisdictions is one of CoinShares’ principal strengths; it reassures our clients and demonstrates our plans to lead Europe’s digital asset sector.” -Jean-Marie Mognetti, Chief Executive Officer of CoinShares. Jean-Charles Dudek, Chief Executive Officer of Napoleon Asset Management, said: We have continued to build upon the synergies between our two businesses since CoinShares acquired the Napoleon Group last December. The integration of Napoleon Asset Management into the group was anticipated at that time but necessarily needed to await consideration by and approval of the change of control by the AMF. Now that approval has been granted, this acquisition by CoinShares will further strengthen the ties between us. ABOUT COINSHARES- CoinShares is Europe's largest and longest standing digital asset investment firm, managing billions of dollars of assets on behalf of its client base. The Group is focused on expanding investor access to the digital asset ecosystem by pioneering new financial products and services that seek to provide trust and transparency when accessing this new asset class. CoinShares is publicly listed on the Nasdaq First North Growth Market under the ticker CS and the OTCQX under the ticker CNSRF.

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PAYMENTS

Nium Adds Crypto Payment Acceptance to Suite of Embedded Crypto Services for Global Businesses

Nium | April 07, 2022

Today at BITCOIN 2022, Nium, the global platform for modern money movement, unveiled Crypto Accept, an API-based solution that enables global businesses to accept crypto payments. Nium Crypto Accept supports Bitcoin (BTC) and Ethereum (ETH) payments at launch, with plans for more currencies in 2023. Online merchants can accept payments in crypto with zero price volatility or risk. Settlement happens next business day in USD or another leading fiat currency - directly to their bank account. Nium Crypto Accept enables merchants to broaden their customer base and enhance their online payment experiences, while staying protected from the price volatility of cryptocurrency markets. Merchants will begin rolling out Nium-powered solutions later this year. Consumers hold more than $3 trillion in cryptocurrency and are looking for more places to spend this money online, Crypto Accept allows merchants to quickly and securely enhance their digital commerce experiences to serve consumers demanding more payment options." Joaquin Ayuso de Paul, Senior Vice President and Head of Nium Crypto. Nium has partnered with BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services, to enable this safe and easy way to embed crypto payments online for thousands of merchants. At checkout consumers will select their preferred crypto wallet and scan a Quick Response (QR) code to complete their transaction. The service verifies availability of crypto funds and settles the transaction promptly in the merchant's bank account in their preferred local currency. BitPay's partnership with Nium connects our network to the Nium rails to enable a fast, safe, and easy way for merchants to embed crypto payments into their online business, Together, we're making it possible for customers to live life on crypto with more options to spend their crypto with the businesses they know and trust." Stephen Pair, co-founder and CEO of BitPay. The launch of Nium Crypto Accept at Bitcoin 2022 follows Nium's announcement of a comprehensive suite of Crypto services accessed via API. The company's first service, Crypto Invest, allows financial institutions to offer their customers the ability to buy, sell, and hold the most popular digital currencies from their financial apps. About BitPay Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. About Nium Nium is the global platform for modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe. Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 85 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium's growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium's license portfolio covers 11 of the world's jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.

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TAX PLANNING

TaxBit Network welcomes SoFi Technologies

TaxBit | April 29, 2022

TaxBit, the leading tax and accounting software provider for the tokenized economy, announces SoFi Technologies, the digital personal finance company, is joining the TaxBit Network—the first-of-its-kind network to provide free cryptocurrency tax forms to all users of the over 20 TaxBit Network companies. Historically, the process of generating cryptocurrency tax forms costs individuals anywhere from hundreds to thousands of dollars per year depending on whether they used do-it-yourself software or enlisted an accountant. The TaxBit Network eliminates this barrier to mainstream digital asset adoption with every SoFi user of a supported TaxBit Network company receiving free, accurate crypto tax forms. Adding a company like SoFi to the TaxBit Network is a major step for the digital asset world. This is a traditional finance company entering the world of crypto in a big way. We are thrilled to have them join our network and we look forward to assisting their clients in this new and ever-changing landscape." Austin Woodward, TaxBit CEO. In tandem with the launch of TaxBit Network, SoFi will be incorporating a one-click, free TaxBit sign-up within their native applications to further simplify access to 2021 tax forms and year-round access to TaxBit's industry-leading software. Our mission is to help people get their money right, and joining the TaxBit Network makes it easier than ever to do that by making it simpler for our members to manage their taxes on cryptocurrency, We have seen a growing appetite for crypto investing among our members, and we know that trend is only to continue on as we see more and more people jumping into the market. We're thrilled to be getting ahead of the curve in meeting that need, and the implications that come with the trading of cryptocurrency, alongside TaxBit." Anthony Noto, CEO of SoFi. The TaxBit Network provides users the ability to easily integrate their cryptocurrency exchange, DeFi, and NFT data, see their tax calculations line-by-line and aggregate tax positions, and download completed IRS Forms 8949 and Income reports that are ready to upload to popular tax filing software or hand over to an accountant—all for free for users of supported TaxBit Network companies, like SoFi. TaxBit's team of industry-leading CPAs and tax attorneys have certified the accuracy of tax calculations related to platforms within the TaxBit Network, including reconciling tax forms to all Forms 1099 issued by such platforms. About TaxBit Designed by CPAs and tax attorneys, TaxBit is the leading tax and accounting solution for the tokenized economy. TaxBit's platform serves the industry's top exchanges, institutional investors, governments, and individuals. TaxBit has raised over $230 million from the world's-top investors in order to enable widespread digital asset adoption by automating the regulatory hurdles of tax and accounting compliance at scale. TaxBit has HQ in Salt Lake City and Seattle.

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FINANCIAL MANAGEMENT

Capital Engine® Launches Capital Engine® Go, a Lite Version of its Capital Raising and Investor Management Solution

Capital Engine | July 05, 2022

Following market demands, Capital Engine® has introduced a preconfigured version of its highly regarded Capital Engine® Investor Management software solution called “Capital Engine® Go”. Capital Engine® Go delivers the same usability as Capital Engine’s existing “Professional” version and includes our tried and tested, capital raising tools and investor management functionality. In addition, the preconfigured nature of Capital Engine® Go and the streamlined implementation methodology means there is no requirement for design, build and customization, which enables companies to be up and running quickly with a standardized version of our financial technology. Offering the new product on a SaaS basis, delivered from the cloud, gives investment management companies the advantage of a single provider for every aspect of the delivery, as well as global coverage, and a high level of scalability that enables a quick ramp-up and efficient rollout to our clients. Capital Engine® Go is aimed at forward-thinking organizations that require a focused application and that are unlikely to have to modify it to suit their organization, as well as companies that want to be able to grow the platform in the future without having to undergo major changes to their infrastructure. “Today’s launch is a significant evolution of the Capital Engine® tech-enabled platform as it offers more companies the benefits of our financial technology,” said Bryan Smith. “Today’s launch is a significant evolution of the Capital Engine® tech-enabled platform as it offers more companies the benefits of our financial technology,” said Bryan Smith. “By selecting Capital Engine Go enterprising companies can benefit from a streamlined implementation, reduced costs and integrated suite of digital investment tools, and distribution platform to connect private capital with investors of all types.” About Capital Engine® Capital Engine® works with forward-thinking organizations to help them raise capital more effectively, automate their investment operations and manage their investors with tech enabled investor management solutions. Built for high-performance capital raising, our technology helps leverage the opportunity to better originate and showcase a diverse selection of private investment deals and offer these to investors i.e. a deal’s potential viability can be better assessed, market appetite determined and transaction promptly closed. Our clients and strategic partners include real estate funds, broker dealers, investment banks, family offices, angel networks, wealth managers, incubators, accelerators, social impact, healthcare, and Reg CF portals.

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The career path for new dentists is a wide one. Some newly minted docs join an existing dental practice. Others choose employment with a hospital or corporate dental chain. Still others opt to practice in a federal agency or public health setting.

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