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.

Are entrepreneurs risk takers at heart or calculated visionaries?  According to serial entrepreneur and Ukheshe Technologies CEO, Clayton Hayward, many entrepreneurs don’t truly understand the nature of risk, which has a direct impact on the success of their business idea. He says that to be a successful entrepreneur you need to be willing to take risks with a greater vision in mind – and become comfortable with the possibility of failure.

Hayward, who has started more than 26 businesses since graduating in the early 90s, says that globally, managing risk is probably one of the biggest entrepreneurship obstacles: “It is important not to overthink, over strategise or over plan the launch of a business. Understand the nature of the risks involved and go for it. Too many entrepreneurs let perfect get in the way of good. Timing is vital, just make a decision and commit to it.”

While avoiding debt is critical, Hayward believes budding entrepreneurs must understand that the risk is there regardless of how good the business plan is: “My advice to first-timers: approach friends, family and fools who believe in your vision for an investment, and then take the leap.”

He says that if you are going to fail, then do it fast and try not get lost in the process: “Get into the market as soon as possible with a minimum viable proposition and evolve the business from there. If you wait for it to be perfect, you will not get anywhere fast.”

Along with understanding risk, it’s critical to learn from failure and Hayward urges entrepreneurs not to fear it: “We learn more from failing than we do from success. Take notes and try again knowing that you have learnt a valuable lesson and won’t make the same mistake twice.”

He admits that it is harder to fail in the South Africa market because it is so frowned upon. Conversely, in the United States failure is regarded as part of being a successful entrepreneur: “There is a lot that we can learn from the United States where I believe entrepreneurship was born. They absolutely lead the way in how to make a success of a business and how to fail successfully too.”

Closer to home, the African continent is filled with the green shoots of exciting opportunities according to Hayward who currently heads up Ukheshe Technologies, a market-leading fintech enabler with an eye on becoming Africa’s next unicorn: “With the launch of 5G we are expecting innovation to flourish. I am excited to assist the market to address financial inclusion and make a meaningful impact across the market. It is here that I learnt another valuable lesson: focus.”

He says that as a serial entrepreneur, the joy is often in the chase, having several projects running concurrently. “But many have suggested that I learn to focus on one instead of many and this is what I am doing with Ukheshe. We took risks, pivoted and took some more risks, and now we have built one of the most exciting businesses that will undoubtedly exceed all my entrepreneurial dreams.”

JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's only international payment brand, and Advanced Bank of Asia Ltd. (ABA Bank), the digital banking leader in Cambodia and a subsidiary of National Bank of Canada, signed the License Agreement and announced the launch of JCB payment acceptance in Cambodia.

Askhat Azhikhanov, CEO of ABA Bank (left) and Yoshiki Kaneko, President and COO of JCB International Co., Ltd. during the Online Signing Ceremony of Partnership Agreement on 17 August 2021.
This partnership will enable JCB Cards to be used at ABA merchant network across Cambodia, which will provide greater convenience to JCB cardholders. JCB has been expanding the issuing business in the ASEAN countries including Cambodia.

JCB and ABA plan to expand the partnership to all ABA merchants including acceptance at PayWay online payment platform and ATMs by the end of 2021.

Askhat Azhikhanov, CEO of ABA Bank said: "We are delighted to announce our partnership with JCB, one of the world leaders in payment services. Under the agreement, ABA merchants and JCB cardholders will be able to broaden their payment opportunities through our extensive networks across the country. Witnessing solid economic and business ties of Cambodia and Japan, we believe that this cooperation will bring benefit to Japanese businesses and individuals in the Kingdom and will enhance the efficacy of the Cambodian payments industry."

Yoshiki Kaneko, President and COO of JCB International Co., Ltd. said: "We are honored to announce the partnership with ABA. The acceptance of JCB Cards in ABA merchants will increase the convenience to our customers in and outside of Cambodia. I believe that this partnership will contribute to the further growth of digitalization in this highly potential market and hope to seek for further business opportunities with ABA."