• 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.

Banking Competition Remedies Ltd (BCR), the independent body established to implement the £775 million RBS (now NatWest) State Aid Alternative Remedies Package (ARP), today confirms the grant sizes for the Capability and Innovation Fund (CIF) Pool F and reiterates the process and timeline for applications.

Pool F consultation process

As a result of returned funds from Pool E awardees (£5m from Onfido in January 2021 and, most

recently, £7.5m from Ebury in June 2021), BCR has £12.5m of grant funds available to deploy to eligible bodies under CIF Pool F.

BCR launched a consultation in July to gather feedback on the grant sizes to be made available under Pool F. The consultation letter was sent directly to 357 organisations, including previous CIF applicants and new interested organisations. 16 responses were received in total.  

The majority of the responses support smaller award sizes of £5m or less with only two organisations advocating the larger grant of £7.5m. Taking into consideration these responses, the BCR board has now decided on the grant sizes available under Pool F as shown below.

Pool F: application round (Pool A, B and C eligible bodies)

• Grants sizes: 2 x £5m / 1 x £2.5m
• Applicant eligibility: organisations that are eligible under previous Pool A, B and C criteria (more information can be found here)
• Key dates:
  • Scout Test event:                             19 August 2021 09:00 (remains open until 25 August 17:00)
  • Application window opens:         25 August 2021 09:00
  • Query deadline:                                8 September 2021 17:00
  • Application window closes:          15 September 2021 17:00
  • Public announcement:                   Expected w/c 18 October 2021

It is important to note:

1. All potential applicants will need to register with BCR by sending details of a named point of contact and the application period(s) being applied for to bcradmin@bcr-ltd.com.
2. To assist applicants in familiarisation with the Scout tool which will be used to manage the application process, the Scout Test event launches on Thursday 19 August 09:00 and will remain open until 25 August 17:00.

As with each previous Pool of the Capability and Innovation Fund, BCR has engaged business and technology consultancy Baringa to receive and analyse the applications via a rigorous and detailed process. BCR’s evaluation team will discuss the output of this process and present a set of supported applications to the full Board for consideration and final decision. For further details of how BCR makes CIF decisions please see here.

BCR retains a robust focus on monitoring and ensuring compliance of all funding recipients once funds have been awarded. Each awardee will make a series of public commitments against which they will report quarterly, and awardees will be required to report and/or meet BCR as requested.

The global partnership between CV Labs and British AI crypto company Evai has led to a debut centralised exchange listing for the EVAI token on Bittrex Global from 19 August. This latest development follows the CV Labs partnership announcement in May this year, which welcomed Evai into the worldwide CV Labs ecosystem as the cutting-edge FinTech firm became their first global platinum partner.

Founded in the UK, Evai uses world-leading AI and machine learning to award unbiased ratings to cryptoassets on their free-to-use platform evai.io. The ratings platform helps both new and experienced investors assess the true value of various crypto with the ambition to democratise the industry.

Earlier this year, the EVAI token launched on two of the world’s largest decentralised exchanges – Uniswap and PancakeSwap – and has performed impressively well during a turbulent time for the market, reaching an all-time high of $0.57. As with all cryptoassets, several variables help investors see value and encourage investment such as solid fundamentals. Evai achieved a world-first through the development and launch of the evai.io cryptoasset ratings platform, built on the research of Professor Andros Gregoriou, advisor to the Bank of England. By rating the assets in real-time without human intervention, Evai has created a platform that is fast becoming indispensable to the market. 

Ralf Glabischnig, founder of CV Labs, said: “We are thrilled that our global ecosystem is growing at hyper speed. Since we now have hubs in Switzerland, Liechtenstein, the UAE and South Africa, as well as partner hubs in several other regions worldwide, we are able to connect key players around the globe via the CV Labs network. This partnership is an excellent example, as it brings together two of our key global ecosystem partners: Bittrex Global, likely the most important crypto exchange operating out of Crypto Valley (Liechtenstein) and Evai, the premier decentralised ratings platform headquartered in our DMCC Crypto Centre in Dubai.”

The Evai ecosystem partnership with CV Labs was key in facilitating the introduction to Bittrex Global which will see the EVAI token make its debut centralised exchange listing on the 19 August 2021. Bittrex Global currently ranks amongst the top ten global centralised exchanges and will provide a valuable launchpad for the EVAI token.

Stephen Stonberg, CEO, Bittrex Global, said: “We are thrilled that Evai has chosen us to be their exchange partner and see incredible value in the formulation of the Evai token and its deployment methods. Evai’s ratings platform represents a monumental step forward for the industry at large, as its ability to eliminate bias not only helps to provide clarity but creates a more secure environment for investors - a shared value of Bittrex Global. 

This development of a newfound partnership between Evai and Bittrex Global emerged from our pre-existing and strong relationship with CV Labs. CV Labs is an exceptional organisation and has excelled in creating a unique global blockchain ecosystem.”

Founded and developed in the UK, Evai has set up its global HQ in Dubai’s CV Lab ecosystem offices within the brand new DMCC Crypto Centre, located on the 48th floor of the iconic Almas Tower. The DMCC Crypto Centre opened its doors in May this year and is set to be a hub for the development and application of crypto and blockchain technologies. It offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled trading platforms to firms offering, issuing, listing, and trading crypto assets. 

Matthew Dixon, Evai, CEO, said: “The introductions gained through the CV Labs ecosystem are invaluable as evidenced by our upcoming centralised exchange listing with Bittrex Global, among other amazing connections instigated by our CV Labs partners. Evai are far stronger having benefited greatly from CV Labs’ enabling and supportive ecosystem.”

Over the coming weeks, Evai will launch EvaiFund, a market-leading investment portfolio that will be governed by AI. Evai’s unique unbiased ratings, coupled with their AI and machine learning algorithmic trading experience, can be used to autonomously optimise the fund’s holdings while dynamically rebalancing asset allocations in real-time. Evai COO, Simon Reid, explains: “For example, the fund may hold assets rated A1, A2, A3, B1 and potentially B2. When an asset is downgraded to B3 or below, AI based algo trading would close the position and remove the asset from the fund. Likewise, it will open new positions for upgraded assets which fit the criteria or parameters set, further diversifying the fund.”

Investors can access the Evai platform for free by signing up at www.evai.io .The EVAI token is available now on Pancake Swap and Uniswap and will be listing on Bittrex Global from 19 August 2021. Follow the Evai evolution and get the latest crypto news updates and debate by joining the official Telegram group:  https://t.me/EVAIofficial 

• New data is first of its kind examining eCommerce confidence levels among retailers and consumers
• 48% of UK retailers strongly believe that they are doing everything they can to prevent eCommerce related fraud, yet only 17% of UK consumers feel the same
• Up to 67% of UK consumers wouldn’t buy online again from a shop where their account was compromised

New European and US data released by Riskified, an eCommerce enablement and fraud-prevention solutions provider, has revealed a stark disconnect between retailers and shoppers on the matter of online shopping fraud.

The research, which comprises 4,000 consumers and 400 retailers across the UK, US, France, and Germany, highlights how widespread online retail fraud is, the extent of its enduring financial impact and how it’s perceived in the eyes of shoppers versus retailers.

In the UK, more than three quarters (82%) of retailers said that they have seen an increase in fraud attempts since the pandemic began, with Card Not Present (CNP) fraud having the biggest negative impact on revenues (60%) followed by Promo Abuse (48%).

The impact of fraud on retailers’ bottom lines is severe, with 26% of global retailers saying that fraud is significantly damaging their profitability. Worse still, over one-third (34%) of global retailers said they had lost between 5% and 10% of their eCommerce revenue to fraud in 2020.

A confidence gap between retailers and consumers globally was also unearthed, with more than half (55%) of all retailers stating that they were confident in their ability to prevent eCommerce related fraud, despite only 34% of all consumers trusting in retailers’ ability to prevent said fraud.

In the UK specifically, more than a quarter (27%) of online consumers said their concerns over online shopping continue to grow and 51% of consumers believe that retailers will find it even harder to prevent fraud over the next year.

Long-term brand impact was a prominent factor for consumer confidence in online shopping too. Not only did 39% of UK consumers say they would blame the retailer if their account was compromised, but as many as 67% said they wouldn’t buy online again from a shop where their account was compromised.

When it comes to fraud prevention, two-factor authentication was recognised by respondents as the most effective tool. However, it was also ranked as the most damaging to revenue for UK and French retailers, and the second most damaging for US and German retailers. This can be attributed to the friction it can add to customer experience.

The use of new technologies to smooth the payment process and reduce fraud is becoming more prevalent as well.

“It’s no surprise that the rapid growth of eCommerce has also led to a rise in eCommerce fraud, and as our research shows, the impact is significant for both retailers and consumers,” said Peter Elmgren, Chief Revenue Officer at Riskified. “Fraud presents unique challenges for retailers who want to protect their businesses while also delivering a seamless and safe experience for shoppers. According to Juniper Research, retailers lost £12.3 billion to eCommerce fraud in 2020, and that number is expected to exceed £18 billion in just three years. By continuously learning from our retailer network and feeding real-time data into our sophisticated machine learning platform, we’re able to help our retail partners build trust and confidence in the online shopping experience.”

Skarbiec TFI, one of Poland’s leading Asset Managers remains focused on modernising its Investment Management processes with the help of NeoXam’s Portfolio Management System. The current project to further utilise the solution, which has already streamlined the workflows with the custodians, is now introducing additional features to the front-office team.

NeoXam’s Investment Management is the backbone solution for the entire asset management group, covering all operational processes from calculations for the funds to regulatory reporting. Where previously the group had used a manual process to monitor its fund portfolios, NeoXam’s Investment Management solution now allows them to have an overview of the current and historic performance of the funds, increase operational efficiency and allowing them to manage their funds more effectively.

Skarbiec TFI, NeoXam’s anchor customer in Poland is testimony for the commitment of NeoXam to Central and Eastern Europe. Poland is the second largest hub for asset management in Eastern Europe, so winning such a significant market player was a key milestone in NeoXam’s expansion.

Anna Milewska, CEO at Skarbiec TFI: "The implementation of new solutions comes from Skarbiec TFI’s strategy. The information system, which we have choosen, is of significant importance for strengthening Skarbiec position in a more and more competitive market. It will help us to deliver highest quality services to our clients.

One of the key features of the NeoXam system is to being able monitoring fund portfolios in real-time. The new system makes our investment process more efficient. This is a long term partnership, which fits into our strategy of growing our company."

Philipp Sfeir, NeoXam’s General Manager for Central and Eastern Europe at NeoXam, commented: “Our DNA is to be close to the customer, be a reliable, transparent partner and agile in all situations. Particularly last year, where travelling was much restricted, this mindset helped to be successful in delivering the project to Skarbiec. I am glad to say, that our relationship with their great team is steadily growing stronger and I am looking forward to providing more capabilities to further empowering Skarbiec.”

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the appointment of Greg Monahan, former US Treasury Criminal Investigator, who joins the organization as Global Money Laundering Reporting Officer (GMLRO).

Mr. Monahan has nearly 30 years of credited government service, a majority of which as a US Treasury Criminal Investigator, responsible for tax, money laundering and other related financial crime investigations. He has led complex international investigations that have resulted in the takedown of some of the most prolific cybercriminals, nation-state actors and terrorist organizations.

“Binance has a strong culture of putting their users first, from providing market-leading products to supporting high-profile investigations that help make the crypto industry a safer place,” said Mr. Monahan. “My efforts will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide.”

Binance CEO Changpeng Zhao (CZ) said: “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants.”

“As a former US Federal Law Enforcement Investigator, Greg Monahan brings a wealth of AML and investigations experience to Binance. We’re thrilled to welcome him to our team as GMLRO and we look forward to his contributions.”

Karen Leong, who has held the GMLRO position since 2018, remains at Binance as Director of Compliance and continues to promote compliance efforts within the organization.

Binance has grown its international compliance team and advisory board by 500% since 2020. Notable appointments include Jonathan Farnell as Director of Compliance, former FATF executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors and former US Senator Max Baucus as policy and government relations advisor.