KGiSL, a global IT products, services and solutions provider, has announced a landmark contract win from the Stock Exchange of Thailand (SET), one of the largest stock exchanges in ASEAN, to provide a Broker Back Office platform for Thailand's brokers. KGiSL's offering, which will be hosted by SET and made available to all capital market brokers, will be based on its flagship Dolphin platform, an end-to-end back-office system that eases business operations with seamless and controlled automation. The implementation is expected to be completed within 16 months.

Dolphin, the leading back office platform in India, caters to 60% of its institutional brokers, supporting back office clearing and settlement operations. Dolphin is set to become the one-stop solution for brokers in Thailand, with its ability to handle multiple asset classes including equities, bonds and offshore trading for both retail and institutional brokers. The next-generation technology platform has been tested for handling 5 million trades/day and has the potential capability to scale vertically and horizontally, supporting increases in business volumes. Dolphin was chosen over other leading systems because it was a better fit for requirements and for the robustness, scalability and automation capabilities it offers.

Dr Pakorn Peetathawatchai, President, The Stock Exchange of Thailand said, "This is one of our most ambitious and challenging projects to establish a common, streamlined infrastructure that will open up new possibilities for Thai brokers to revolutionize back office business models. We strongly believe that continued support from participating brokers in providing valuable insights along with KGiSL's delivery capabilities will be key ingredients in contributing to the project's success."

On the association with SET, Prassadh Shanmugam, Director & Chief Executive Officer KGiSL said, "This is a huge win for KGiSL. Dolphin has been the undisputed market leader in India so far, but we have had limited successes in other markets. This order opens up the entire ASEAN & APAC market to create similar success stories like how we have done in India. KGiSL is poised to invest more in Dolphin's capabilities by adding Artificial Intelligence (AI), Machine Learning (ML), Business Intelligence (BI) and Analytics. I would also like to thank Dr Pakorn Peetathawatchai, President of The Stock Exchange of Thailand and the entire management of SET for placing their trust in KGiSL and Dolphin."
 

• M1ST is the largest mobile payments network in the world, reaching 5.7 billion payment accounts in 90 countries through 330+ mobile payment methods
• Through M1ST, merchants can quickly and securely accept mobile wallets, real-time payments and carrier billing through a single API integration

Boku Inc. (AIM: BOKU) today announced the launch of the M1ST (aka Mobile First), the world’s largest mobile payments network. The M1ST Payments Network features an unrivalled 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes, reaching 5.7 billion mobile payment accounts in 90 countries - all through a single integration.

1.7 billion consumers have joined the world’s middle class in the past decade, with over 90% of the new middle class in emerging markets (Brookings Institute, 2020). Many of the world’s new middle class in Asia, Latin America, Africa and the Middle East are bypassing credit cards, and moving from cash to mobile payments like GoPay, Paga, PicPay and UPI. According to the World Bank, 45% of consumers globally use mobile wallets vs. just 18% that use credit cards for payments.

However, mobile payment acceptance for global merchants is highly complex, especially due to the extreme fragmentation of mobile payment methods. M1ST solves a number of these challenges so that merchants can easily accept mobile payments, globally, and at scale, including:

• Standardization - M1ST removes the complexity of disparate technical, legal and contractual considerations, simplifying 330+ payment methods into a single, scheme-like network.
• Digitally Native - M1ST enabled payments are built to support the 0-tap subscriptions and 1-tap checkout transactions that enable new, online business models.
• Future-Proofed - By 2025, nearly 60% of consumers globally are projected to be using mobile wallets; the M1ST Network follows market demand to maximize merchant acceptance.
• Global Settlement - M1ST delivers merchants a single, global settlement, eliminating the complexity of local taxes, foreign exchange, and cash repatriation.
• Local Legal Infrastructure - Through payment licenses and local entities, M1ST is capable of accepting regulated payments in nearly 50 countries.

M1ST is designed to eliminate the difficulty of mobile payment acceptance so that merchants can accept mobile payments more quickly, at lower cost, and focus on building world-class user experiences that drive long-term, valuable relationships with their customers.

“We’ve seen a fundamental shift of consumer purchasing power from west to east, from established to emerging markets, and from credit cards to mobile payments. Today, we’re launching the M1ST Network to enable global merchants to acquire, monetize, and retain mobile-first consumers,” said Jon Prideaux, CEO of Boku. “For merchants to capitalize on the massive potential of mobile-first consumers, they need to accept the payment methods they have and prefer, which are increasingly behind glass screens, not rectangular pieces of plastic. We’ve spent the past decade delivering new customers to our merchants through mobile payments. Now that mobile payments have overtaken credit cards globally, merchant acceptance has moved from a competitive advantage to a strategic imperative.”

 The Commonwealth of Dominica has topped the chart with the best citizenship by investment (CBI) programme in the world for the fifth consecutive year. This is according to the CBI Index, an annual report published by the Financial Times' Professional Wealth Management magazine.

The study measures the performance and appeal of 14 CBI programmes across various indicators it calls 'pillars'. Dominica attained maximum points in six out of the nine 'pillars': Minimum Investment Outlay, Mandatory Travel or Residence, Ease of Processing, Due Diligence, Family, and Certainty of Product.

"For Dominica, first place has been a consistent result for five consecutive years. Maintaining a perfect score in six out of the nine pillars assessed, Dominica once again promises, among other things, an affordable minimum investment outlay, a streamlined application process, and certainty to investors," the report read.

Due to the transparency and prominence of the Dominica CBI Programme, Dominica was the only country that achieved a full score in the Certainty of Product pillar. "At 28 years old and with a track record of good governance, the Dominica CBI Programme has led the way in providing clarity as to how CBI funds are used," the researcher noted. It added that the country "used CBI revenues to successfully mitigate the effects of national disasters."

Ambassador Emmanuel Nanthan, the Head of the Citizenship by Investment Unit (CBIU) in Dominica, commented, "It is of great honour to see that Dominica came out on top once again. Of course, it is not a surprise to us as we lead and set the example for excellence in the investment immigration industry. It was good to see the reward for it."

In terms of the global mobility afforded to Dominican citizens, the report noted that "Dominica was the Caribbean nation with the greatest increase in its visa-free and visa-on-arrival offering for the second year in a row." Applicants and their family members who successfully pass all security checks and obtain citizenship of Dominica can travel to over 75 percent of the world.

Prime Minister Roosevelt Skerrit said: "Those who become Dominican citizens are considered a part of our family. They help build our roads, hospitals and schools through your investment in our CBI Programme."

Dominica established its CBI Programme in 1993. With a minimum contribution of USD 100,000 to the Economic Diversification Fund, reputable foreign investors can apply through an Authorised Agent listed on the CBIU site and attain second citizenship of Dominica without being subject to travel or residence requirements, often within three months of application submission. Applicants can also choose to apply through the real estate route, by investing in Government-approved eco-luxury properties like the Marriot, Hilton, or Kempinski or a boutique resort like the award-winning Jungle Bay or Secret Bay.

Fintech platform achieves three-year revenue growth of 163%

Today Fund That Flip announced it was named to Inc. magazine’s annual Inc. 5000 list for the third year in a row, a ranking of the nation’s fastest-growing private companies. A leading residential real estate investing platform, Fund That Flip makes the listing with over 163% in revenue growth, displaying the firm’s ability to demonstrate strong growth, even during challenging times.

Launched in 2014, Fund That Flip provides short-term loans to experienced real estate redevelopers who buy and renovate residential properties. After origination, Fund That Flip offers accredited and institutional investors the opportunity to purchase fractional shares of the loan and earn a 10+% annualized yield.

Since its founding, the company has achieved exponential growth, doubling its loan origination volume and customer base each year. Fund That Flip was named #42 on Inc.’s list of fastest-growing companies in 2019, the first year it was eligible. This year’s ranking comes after considerable revenue growth following the company’s Series A raise of $11 million in growth equity from Edison Partners.

“We are incredibly honored to be named to the Inc. 5000 for the third year in a row and to have overcome many challenges that 2020 presented,” said Matt Rodak, CEO of Fund That Flip. “Our sustained growth is the result of the team’s inexhaustible dedication to superior service for our clients and stakeholders. We remain unwavering in our pursuit of delivering innovative products and services to meet the needs of residential real estate investors across the nation.”

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.

“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

FRANKFURT AM MAIN – Changing the life of billions of people for the better is an accomplishment that is reserved only for few companies. In the past decade, four technology giants created a supergroup of companies that goes by the acronym FANG standing for Facebook, Amazon, Netflix, and Alphabet (formerly acknowledged as Google). Undeniably, these four companies deserve the top spot, but other tech companies like Nvidia or Tesla hold a candle to these big four. US-based financial company REX Shares released two ETNs, the MicroSectors Solactive FANG & Innovation 3x Leveraged ETN (BULZ) and MicroSectors Solactive FANG & Innovation -3x Inverse Leveraged ETN (BERZ), tracking the Solactive FANG Innovation Index and including the largest thirty US-based technology stocks. 

Not only are FANG companies enormous market drivers, but their performances are regarded by many as a proxy for the entire US economy. Their products and services are visible in every household allowing them to dominate their respective market segment. Investing in tech – and especially FANG companies – can sometimes be very tricky for investors since they have to reach deep into their pockets to acquire, for example, just one Amazon stock. With REX Shares’ new ETNs, investors can participate in the performance of large US technology stocks for a fraction of the cost.

The Solactive FANG Innovation Index

The Solactive GBS United States Large & Mid Cap Index serves as the index’s universe. Eligible companies must be headquartered in the United States and listed on a US stock exchange. According to a common industry classification, companies with business operations in the following sectors are potentially included: Semiconductors, Electronic Components, Electronic Equipment/Instruments, Telecommunications Equipment, Computer Processing Hardware, Computer Peripherals, Computer Communications, Electronic Production Equipment, Data Processing Services, Information Technology Services, Packaged Software, and Internet Software/Services. Finally, companies with a free-float market capitalization of less than USD 10 billion are excluded from the index. Thirty companies make up the final index composition.

“Indisputably, large US Tech companies transformed the practice of how we communicate, work, and entertain ourselves,"  comments Timo Pfeiffer, Chief Markets Officer at Solactive."The market barriers constructed bylarge tech companies are, in many cases, insurmountable, which allows them to solidify their dominant role in the markets, potentially presenting a positive outlook for their performance."

Scott Acheychek, President of REX, comments: “We are thrilled to partner with Solactive and BMO for another product suite offering. We believe the Solactive MicroSectors FANG & Innovation Index will provide sophisticated investors access to a true U.S.-specific big tech barometer. MicroSectors focuses on innovating the ETP landscape with targeted investment trading vehicles across popular market segments like U.S. energy, U.S. large cap banks, and now U.S. big tech.” 

• Mastercard ambassador Sacha Dench (The Human Swan) is currently undertaking a World Record attempt as part of the Round Britain Climate Challenge and visit The AIG Women’s Open today
   
• Flying around Britain on a journey powered solely by green energy, Sacha will be encouraging people to make their own individual commitments to slow climate change
   
• Planting 75,000 trees is Mastercard’s latest pledge as part of the Priceless Planet Coalition and continued commitment to the environment and sustainability

Together with its partners ekko and HELPFUL, Mastercard has pledged to donate and plant 75,000 trees in support of the Round Britain Climate Challenge, the first ever circumnavigation attempt of mainland Britain with an electric paramotor.

Equating to roughly 25 trees planted for every mile of the trip, the Mastercard pledge made alongside its Priceless Planet Coalition partners is part of the company’s ongoing drive to tackle climate change, encourage sustainability, and equip its network to be a positive force for the environment. Working with Conservation International, trees will be planted in Sacha’s original home country of Australia as well as Kenya and Brazil.

As an official Patron of The AIG Women’s Open and to celebrate the expedition, Mastercard brought Sacha Dench, known as The Human Swan, together with Mastercard ambassador and golf pro Brooke Henderson at Carnoustie Golf Links on Wednesday to highlight how we can come together to battle climate change.

The R&A also partners with Mastercard on sustainable practices. On site at the Championship Course, water stations have been installed as part of The Open Water Initiative. The initiative was first launched in 2019 during The 148^th Open at Royal Portrush with the aim to remove all single use plastic water bottles at the Championship and has proved successful with 244,000 single-plastic bottles saved collectively in 2019 and 2021 so far at the Mastercard sponsored events. Carnoustie will be equipped with contactless modules for fans to make voluntary donations of £1.50 to the Priceless Planet Coalition.

Scott Abrahams, Senior Vice President, Business Development, Mastercard UK & Ireland said, “We are proud to pledge 75,000 trees in support of the Round Britain Climate Challenge. It is an exciting and pioneering expedition, tackling climate change head-on and crucially raising awareness in the UK. At Mastercard we share the same common goal which includes our Priceless Planet Coalition commitments to restore 100 million trees by 2025. Today is another step towards achieving that goal alongside our fintech and sporting partners, to create a greener, more sustainable planet.”

Sacha Dench, Round Britain Climate Challenge pilot, commented “Britain drove the Industrial Revolution, can we drive the Green Revolution too? This is one of the questions that the Round Britain Climate Challenge is trying to answer and we all have a part to play. I am delighted that Mastercard is undertaking this pledge to plant so many trees – such a vitally important factor in combating the climate emergency – whilst also taking action at events such as The Women’s Open.”

Brooke Henderson, Mastercard ambassador and golf professional, added: “It was great meeting Sacha today to hear more about how we can tackle climate change, not just in the UK but around the world. The Women’s Open, and golf more broadly, is an opportunity to raise awareness so I’m pleased to see The R&A and Mastercard taking action to be more sustainable.”

Oli Cook, CEO & Co-Founder of ekko, said: “We’re proud to support Sacha and The Round Britain Climate Challenge with this pledge to donate and plant trees. We’re committed to positive change and turning the tide on climate change at ekko and Sacha is doing just that by raising awareness and encouraging climate action.”

Evan Michaels, Co-Founder and CEO of Helpful commented: “We are excited to support Sasha in this great expedition. It aligns perfectly with our mission here at HELPFUL to raise awareness about climate change and sustainable living to millions of people around the country. We want to inspire people to consider their shopping choices and along with our pledge to plant 75,000 tree with our partners at Priceless Planet Coalition, we hope to play a small part in creating a healthier planet.”

Flying from June 2021, Sacha Dench will lead the 3000+ mile journey and world record attempt for the longest ever flight in an electric paramotor. She has been stopping frequently, talking with, filming, and gathering information from industry, innovators and entrepreneurs, local heroes, communities, schools, farmers and individuals – anybody interested in or involved in addressing the effects of climate change in their areas. A compilation of these stories will be presented at COP26, the United Nations Climate Change Conference in Glasgow in November.

Fans at Carnoustie and people across the UK can Start Something Priceless by donating a tree via the Mastercard Priceless Planet page. Mastercard will match every tree donated on this link.

Defining The Modern Pay Experience for Global Enterprises and Employees, CloudPay Is The Leading Provider of Unified Payroll and Payment Services

Leading global pay provider CloudPay today announced details of its recent funding. The company raised a new $58 million round of capital led by The Olayan Group, along with existing investors Pinnacle Investment Partners and Rho Capital Partners and others. The funds will support CloudPay's continued growth as the leading global provider of employee pay solutions that unify global payroll systems and align with a consumer-grade experience for employees.

In 2020, CloudPay exceeded its pre-COVID new business plan growth by 50 percent. Particularly noteworthy was increased demand for CloudPay's expanded treasury services and an overall trend among its existing customers to consolidate more of their pay operations onto CloudPay's platform.

Most recently, CloudPay announced its CloudPay NOW earned wage access offering. Providing employee access in one mobile application, CloudPay NOW is the only truly global solution that reduces operational complexities for employers and empowers employees to manage their finances proactively. CloudPay NOW has already won a prestigious CODiE™ award and is in live operation across 12 countries with one of the world's premium lifestyle brands.

CloudPay CEO Paul Bartlett commented, "This funding will be instrumental as we build our Fintech solutions, including peer-to-peer payment capabilities. The participation of our existing investors is further endorsement of our vision, and I'm especially excited to welcome The Olayan Group – an organization that shares our global perspective - as our newest investor."

Joshua Ruch, CloudPay's Chairman, said, "CloudPay customers already enjoy substantial consolidation benefits with our state-of-the-art global payroll platform. We'll continue to redefine the sector with new treasury management and earned wage access services for employers and employees."

GCA Global acted as financial advisor to CloudPay in connection with this transaction.

Cassini Systems, the leading provider of pre- and post-trade margin and collateral analytics for derivatives market participants, has won the 2021 HFM European Technology Award for Best Post-Trade Technology.

Rewarding excellence in hedge fund technology services, the HFM European Technology Awards 2021 aim to recognize and reward hedge fund service providers who have demonstrated exceptional client service, innovation and strong and sustainable business growth over the past 12 months. Selection involves a rigorous judging process.

Cassini’s platform provides the only full front-to-back solution covering margin, collateral and cost analytics for all classes of cleared and uncleared derivatives, futures and options, and prime brokerage portfolios. Cassini is integrated into the leading order management systems to enable frictionless access to pre-trade analytics with little implementation overhead. It also integrates into post-trade collateral management, treasury and risk systems – enabling better transparency, control and optimization of margin and collateral.

Liam Huxley, CEO and founder of Cassini, said: “We are very pleased to have won this award, especially given the range and quality of the other nominees. This speaks to our increased support for, and recent new client wins in, the hedge fund market. Hedge funds are being impacted by not only the Uncleared Margin Rules, or UMR, but also the need for greater transparency and resilience in volatile markets where optimizing capital consumption is key.”

Huxley added that the growing demand for collateral and need for hedge funds to comply with, or at least monitor eligibility for, regulations such as UMR, call for a solution that provides transparency and optimization across the whole of a hedge fund portfolio. Cassini’s tools reduce collateral liquidity risk, lower financing costs of trades, and provide transparency over how and where capital is being consumed.

• Fast growing crypto exchange meets esports legend on meteoric rise
• Bybit says this marks the beginning of its foray into esports collaborations
• NAVI players to participate in Bybit's upcoming World Series of Trading (WSOT) 2021

Bybit, one of the most popular exchanges for crypto lovers, has announced a multi-year partnership with esports team NAVI ("Natus Vincere") today, scaling up synergy between two fastest growing industries that can only go up.

The sponsorship will put the Bybit name on the map in the esports space in a symbolic move to bring closer two creative communities that are shaping up to redefine finance and sports. The sponsorship will not only see the Bybit logo appear on NAVI's jerseys, but also include impact-driven collaborations on charity initiatives, school and student projects, and anti-hate/anti-bullying campaigns.

Bybit has in store a series of activations to help NAVI fans put their competitive skills to the test in the 2021 rendition of Bybit's flagship World Series of Trading (WSOT) crypto trading competition. WSOT 2021 spectators will see familiar names from NAVI's team of top players. The crypto community has been anticipating the event of the year with a prize pool of up to a record $7.5 million.

Best of Both Worlds

Boasting a whopping 18.4 million fanbase and close to 600 million cumulative video views on YouTube, NAVI reaches a unique segment of 15 million fans per month. It was also one of the most viewed esports teams in the world in 2020.

As NAVI's exclusive cryptocurrency platform partner, Bybit will have greater visibility among one of the fastest growing demographics in sports and gaming. In turn, Bybit is excited to introduce the esports community to the endless possibilities cryptocurrency could open up for them.

The worlds of investment and professional gaming share commonalities — esports fans and crypto lovers are digitally savvy, forward-thinking and confident in their trades. Both industries have also demonstrated transformative power in a short space of time.

In just three years, Bybit made itself one of the top names in crypto trading with more than 2.5 million registered users from over 200 markets. It ranks second in terms of daily volume of Bitcoin futures and registered more than $1 trillion in total overall trading volume in the first quarter of the year. Helmed by veteran forex platform and blockchain development pioneers, Bybit stands out for its professional, intuitive and innovative online trading and cloud mining experience for retail and institutional clients, known for providing reliability even during periods of high volatility.

Bybit believes in equal investment opportunities for all crypto lovers. The sponsorship will feature financial education resources for gamers looking to diversify and invest in digital currencies.

Both emerging and fast-moving industries, crypto and esports promise to be the game-changers charting the future of finance and sports. Projected to become a billion-dollar industry in 2021, the esports sector is expected to welcome around 200 million new gamers by 2024 according to analytics firm Newzoo.

With overwhelmingly young demographics, esports is predicted to be an "up only" industry just as cryptocurrency is finding its way into mainstream portfolios globally. Many in the esports community will likely be keen to embrace a digital-first, borderless and decentralized asset class and will benefit from connecting with one of the best platforms facilitating cryptocurrency.

Bybit's First Esports Venture

"The COVID-19 pandemic has changed many established conventions in a number of human experiences. Both sports and finance have witnessed the exponential pace of mainstreamization of two new entrants — esports and cryptocurrency," said Ben Zhou, co-founder and CEO of Bybit.

"We are delighted to connect with one of the most iconic names in esports that provided 86.1 million hours of thrilling entertainment to audiences worldwide in 2020. As one of the fastest-growing start-ups built for crypto lovers, we are excited to sign on with NAVI, and are looking forward to unleashing the natural synergy between the crypto community and the athletes and creators in esports," he said.

"We share the vision of real sportsmanship, and the drive to be the best in the game. Whether you are in the business of innovative finance or competitive esports, to be a good player you need to put in hard work, hone your craft and build a strategy. That's why we are constantly on the lookout for partners in excellence," he added.

"I believe that this was bound to happen. Cryptocurrency and esports have much in common: They are new, fast-growing and interesting to keep watch and learn. We shall strive to show esports fans the real value of digital-based communication by cryptocurrency platform Bybit and our team. Also we want to represent the esports world to cryptocurrency enthusiasts as a point of their interest. We hope to bring new game-changing and engaging projects to make esports a better place to play together," said Alexander Pavlenko, CMO of NAVI.

With 46 players in 12 disciplines and academy, NAVI has recorded a total of 247 awards since 2009.

Game On: More to Come

As a global platform loved by users from different parts of the world, Bybit has more plans for further integration with the international esports community.

Bybit's debut into esports echoes its global, inclusive and innovative value, representing the shared ideals of the cryptocurrency community. Bybit is kicking off the gaming season with NAVI to set in motion a wide-range of integrations and activities, joining global brands like Monster Energy, ASUS, Puma and Logitech and other esports supporters.

Sharing its vision for a future in crypto with the global esports community, Bybit will introduce NAVI players in the upcoming WSOT 2021 that has become the premier gaming-themed event within the cryptocurrency community, with more announcements to follow on other partnerships and sponsorships.