Liminal, a leading regulated digital asset custody provider renowned for its innovative multi-party computation (MPC) wallet infrastructure, is proud to announce the launch of its Whitelabel Custody Solution. This new offering will now allow Web3 enterprises to manage digital assets securely and efficiently through a fully customizable and comprehensive platform.

Liminal's Whitelabel Custody Solution introduces a new era of digital asset management for Web3 institutions. This cutting-edge offering enables businesses to leverage Liminal's secure wallet infrastructure and policy management tools while delivering a personalized experience to clients. By embracing the power of white label, enterprises can streamline their services and accelerate their market entry without the complexities of building infrastructure from scratch.

As the demand for customizable solutions grows, white-label custody offerings are gaining momentum in the digital asset space. Liminal's comprehensive Whitelabel Custody Solution is designed to address these intricate challenges faced by institutions, ensuring top-tier security and compliance within its robust infrastructure and policy management tools.

Web3 institutions have long grappled with the complexities of custodial services, ranging from wallet security to private key management and compliance checks. Liminal's Whitelabel Custody Solution offers a transformative approach, empowering institutions to build secure, compliant, and efficient digital asset management platforms tailored to their unique needs. Harnessing Liminal's MPC-based technology, Web3 enterprises can manage their digital assets with unparalleled security and efficiency. The solution offers segregated wallets with multi-user approvals, ensuring an unparalleled level of security. It also enhances fund security, improves transaction processing speed and efficiency, and provides an enhanced user experience.

"Our mission at Liminal is to empower Web3 institutions with the tools they need to succeed in the ever-evolving digital asset landscape securely," said Rahil Shaikh, AVP of Product and Blockchain at Liminal. "With our Whitelabel Custody Solution, we are introducing an opportunity for institutions to establish their own branded and fully customizable custody platforms, enabling them to navigate the complexities of digital asset management with confidence."

Liminal's Whitelabel Custody Solution offers a range of personalization, security, compliance, and support features. This tailored custody platform allows institutions to customize every aspect of the platform, from user interface design to security protocols. Simultaneously, it offers the flexibility to adapt quickly to market trends and changing customer needs. Seamless integration with the white label solution ensures minimal downtime and maximizes efficiency.

Security remains paramount in the digital asset space. Liminal's advanced technology and encryption measures establish a fortified custody infrastructure, safeguarding digital assets from potential threats and unauthorized access. Additionally, the Whitelabel Custody Solution ensures compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements, fostering trust and transparency while adhering to global regulatory frameworks. Liminal provides dedicated support, ensuring institutions have access to expert guidance whenever required.

Liminal's Whitelabel Custody Solution offers both custodial and non-custodial setups, catering to a wide range of institutional preferences. The custodial setup provides advanced security features, private key management, and compliance modules. The non-custodial setup empowers institutions with full asset control and automation capabilities. By adopting Liminal's Whitelabel Custody Solution, institutions can unlock unparalleled security, efficiency, and control over their digital assets.

Indian Bank, a leading public sector bank in India, has announced its partnership with OneCard, aimed at introducing state-of-the-art, mobile-first, contactless, metal co-branded credit cards. This partnership seeks to provide an unparalleled seamless credit consumption experience to the digitally-savvy consumers in the country.

Backed by an intuitive mobile app, this partnership will empower users with full digital control over their credit card interactions — ranging from real-time transaction tracking, spends management, EMI conversion, reward redemption, repayments, monthly budget planning to credit limit adjustments and seamless payments, all in-app. Fuelled by cutting-edge technology, this international metal credit card is loaded with features and curated to offer a host of tailored benefits, including lifetime validity with zero joining and annual fees.

The card follows the principles of simplicity, transparency, and giving back control to the consumer by allowing card holders to oversee/track every facet of their credit card interactions in the feature-packed app.

Vikas Kumar, Chief General Manager (Retail & MSME) of Indian Bank said,

“Indian Bank, recognized for its commitment to embracing technological advancements, continues to prioritize delivering customers a smooth, digitally centred experience. The bank's reputation as a significant technology contributor within the banking industry highlights its commitment to fostering innovation. Bank is entering into partnership with different Fintechs to offer state-of-the-art technology to its customers. Our motto is to bring the best innovation and technology in our offerings, be responsive to the unique need of each customer through all channels of choice, provide value to the stakeholders and empower and engage our employees.”

Anurag Sinha, Co-founder & CEO of OneCard said, "We are thrilled to collaborate with Indian Bank and cater to the mobile-native generation in the country. This partnership is a testament to our commitment to reimagining and redefining credit offerings by bringing together the strong balance sheet and long-standing brand & trust of a large public sector bank and our approach of thinking from first principles, to offer highly tech-enabled, customized credit solutions to the customer. This association further fuels our vision of proliferating a digital credit consumption experience, powered by our intuitive app.”

About OneCard: OneCard is a mobile-first metal credit card launched and managed by FPL Technologies in partnership with issuer banks. FPL Technologies was founded by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, who come from banking backgrounds with deep expertise in payments, credit and building & scaling digital businesses. FPL is on a mission to re-imagine credit and payments from first principles.

LexisNexis® Risk Solutions has been named a leader by Forrester Research Inc. in The Forrester Wave™: Digital Fraud Management (DFM), Q3 2023 report. LexisNexis Risk Solutions received the highest possible scores (5.0) in 13 of the 22 evaluated criteria, including user management, rule management, statistical decisioning, customer authentication policies, integration, vision, roadmap, community and innovation.

According to the Forrester report, “LexisNexis Risk Solutions has strong rule and AI-based risk scoring and behavioural biometrics.” The Forrester report also notes that the company “offers robust user and role management, broad rule-based risk scoring capabilities including rule induction, device IP and fingerprint hotlists, champion/challenger models and version-controlled risk scoring. LexisNexis Risk Solutions is a great fit for enterprises already using the vendor’s identity verification or behavioural biometrics solutions.”

“Building secure digital interactions for our customers is a key priority, said Steve Elliot, managing director at LexisNexis Risk Solutions. Digital trust is fast becoming the most valuable currency of our time. We’re responding with solutions that provide customers with a wide array of data, attributes and risk signals across all customer interaction channels and journeys. Forrester’s acknowledgement of our success is validation that our focus on secure customer experience is an appropriate vision for the future of fraud and identity.”

Zilch – the multi-award-winning ad-subsidised payments platform – is to open markets for trading at the London Stock Exchange today to celebrate its third birthday. The milestone celebration coincides with a series of achievements including remarkable customer savings and growth, robust trading performance and a string of industry awards that underscore the first phase of its vision to eliminate the cost of consumer credit. For good.

Today, Europe’s fastest fintech to go from Series A to $2bn valuation – Zilch – reveals it has passed the threshold of 3.5 million registered customers – the equivalent of over 3,000 people signing up to benefit from Zilch every day, for three years since its launch. By using its reward-earning ‘Pay Now’ debit product and zero-interest ‘Pay in 4 over 6 weeks’ credit product, Zilch customers have now spent more than £1.5 billion through the platform and in return benefitted from over £300 million in rewards and savings on interest and late fees.

Having consistently maintained one of the highest Trustpilot ratings of any financial product, Zilch is today one of the most respected and valuable of the 20 UK fintech unicorns.

Philip Belamant, CEO and co-founder, comments: “I’m enormously proud of how far we’ve come in just three years, and we appreciate Julia Hoggett, CEO of the London Stock Exchange, inviting us down to open its markets today in celebration of this milestone. In just 36 months, almost 10% of the UK adult working population is now a registered customer. Many customers are using Zilch daily with our average customer using the product 100 times a year. Zilch has already driven over £1.5 billion in commerce to retailers and put over £300m of savings and rewards back into the pockets of customers. And this is just the beginning.

“Whilst we remain acutely aware of the many challenges that lie ahead, I am very encouraged by the fact our margins are currently at their highest, credit losses at record lows and revenues the strongest we’ve ever seen. Exceptional growth in fundamental unit economics with substantial gross profit margins holds Zilch on a clear course to profitability and beyond. We are also currently on track to process more sales in the next 12 months than we have in Zilch’s history to date.”

Sean O’Connor, co-founder, added: “We are pleased that the strength with which our counter-cyclical business model has performed during this challenging macro market environment, together with the scale of its societal impact and growth potential, is increasingly being noted in institutional capital markets. As such, we are delighted to be invited by the CEO of the London Stock Exchange to open what is one of the world’s major stock markets.”

Zilch was invited to open markets at the London Stock Exchange in celebration of its three-year anniversary. Still a privately owned, fast-scaling business, Zilch is using its unique ad-subsidised payments model to tackle one of the world’s largest Total Addressable Markets (TAM), wherein circa $50 trillion (up from circa $20 trillion in 2000) is being spent on bills, payments and ecommerce annually. In the next five years, this is expected to grow another $30 trillion.

Zilch has received a slew of prestigious awards validating its industry-leading position, including being named ‘Best Credit Card’ at the 2023 Global Payments Innovation Awards and ‘Alternative Consumer Credit Provider of the Year’ at the esteemed Credit Strategy Awards (following on from its recognition as the ‘Best Credit Card’ at the 2022 Credit Strategy Lending Awards). In addition, Zilch’s co-founder and CEO was recognised as ‘Leader of the Year 2023’ at Credit Strategy’s recent Leadership Awards, and EY’s Entrepreneur of the Year 2022 for London.

As the world's leading cryptocurrency trading platform, Gate.io is about to release its brand-new 100% Proof of Reserves (PoR) audit upgrade plan. What is remarkable is that the new plan integrates zero-knowledge proof (ZK-proof) technology, thus pushing the depth and privacy of PoR audits to new heights. By exploring the latest revisions to Gate.io's reserves verification method, we will analyze the core value and function of this upgrade.

Zero-knowledge proof technology

With its privacy-preserving data verification method, ZK-proof technology has become a valuable tool in the current digital asset environment. That is why Gate.io is introducing this cutting-edge technology into PoR auditing, meaning greater guarantees for user privacy and asset security. Through zero-knowledge proof, the exchange can present users with evidence of sufficient asset reserves without exposing detailed personal transaction data. This will create higher transparency and credibility for the exchange and promote better practices within the broader digital asset trading industry.

Analysis of the upgrade's prototype

A prototype that incorporates forward-looking design ideas is the essence of Gate.io's upgrade plan. In the header section of the new PoR page, the currencies supported by the reserves audit and other details are displayed, including other various data such as customer net balance, account balance, and ratio.

Regarding information about 100% PoR, its importance, and essential components such as Merkle trees and zk-SNARKs, the newly upgraded page lays everything out so that users can easily understand each piece and its role.

The "Audits" section provides users with the details needed to verify the PoR audit data without compromising privacy, including report ID and account asset information. Users can gain an in-depth understanding of the verification path of each digital asset. Access to this information gives users a clearer picture of the PoR auditing process, which will help them be more rational and decisive in asset management.

The fully upgraded 100% PoR audit page on Gate.io will enable users to verify PoR audit results independently. The page will display the current audit status and the ratio between existing and reported reserves. Through ZK-proofs, everything is conducted in a manner that maximizes both privacy and transparency.

Far-reaching impact

This new upgrade plan is bound to have a far-reaching impact. First, introducing zero-knowledge proof technology will enhance the privacy of the reserve verification process and provide more reliable safeguards. Secondly, the more refined privacy-preserving methods shown in the product design will significantly improve users' insight into the current PoR auditing process and give users higher confidence in their digital asset activities. Gate.io's move may further establish its position as a reputable and reliable exchange, promoting greater trust.

With the support of new technologies, Gate.io will continue to lead the industry in innovation with this upgrade solution, creating a safer and more transparent trading environment for users.

Whether consumers have swiped, tapped, dipped, waved a wrist or held a device near a card reader at a retail location in recent months, the chances are good that they’ve used some form of digital, point-of-sale (POS) payment option in addition to cash. According to the inaugural J.D. Power U.S. Consumer POS Payment Program, SM released today, consumers have used no fewer than four different types of payment methods, including debit cards, cash, credit cards, digital wallets and buy now/pay later (BNPL).

The new program consists of four interconnected J.D. Power syndicated studies focused on understanding consumer preference and experience with the various forms of POS payment options: the POS Choice Satisfaction Study; SM Debit Card Satisfaction Study; SM Digital Wallet Satisfaction Study; SM and BNPL Satisfaction Study.SM The program, which includes evaluations of 30 top payment brands and 11 different payment methods, delivers a detailed, nuanced view of changing patterns of consumer behaviour and preference for different forms of POS payment.

“The POS payment landscape is moving very quickly, and consumers are being confronted with so many different options that we’re seeing a real splintering of the total addressable market,” said Miles Tullo, managing director, banking and payments at J.D. Power. “Consumers now use multiple different payment options for dozens of different reasons, mostly correlated with specific needs but sometimes out of basic habit. By analyzing consumer behavior across the proliferation of different POS payment types, scenarios and consumer personas, we’re able to provide critical insights on what’s driving utilization and what steps brands need to take to scale POS payment products.”

Following are some of the key findings of the four 2023 studies:

• Debit cards dominate POS marketplace: Despite the widespread availability of new forms of digital payment, debit cards are used by more consumers than any other form of payment at the point of sale, with 78% of consumers indicating that they use debit cards for purchases. Debit cards are followed by cash (74%); credit cards (66%); digital wallets (36%); gift cards (33%); BNPL (28%); merchant apps (20%); checks (19%); prepaid cards (14%); pay by bank (7%); and cryptocurrency (3%).
• Typical consumer uses multiple different payment options in different scenarios: While most consumers say they use debit cards, they also say they use multiple forms of payment. On average, consumers are using 4.1 different payment methods, and the reasons given for each varies considerably, incorporating everything from ease of use to the perception of social status associated with different forms of payment.
• More than half of consumers used non-traditional payment methods in the past 90 days: A slight majority (55%) of consumers say they have been using newer forms of digital payment methods, such as digital wallets, BNPL, merchant apps and even cryptocurrency. The most frequently used of these are digital wallets (36%) and BNPL (28%).
• Distinct consumer segments exist: Based on patterns of consumer behaviour and customer satisfaction with the multiple different forms of POS payment methods, J.D. Power has identified six distinct consumer personas that POS payment brands can use to segment the market and target delivery of their offerings: experimenters; borrowers; rewards optimizers; security seekers; budgeters; and minimalists.
• Financial health influences behaviour: J.D. Power has measured the financial health of consumers since 2020 and embedded those measurements into the Customer POS Payment Program. The results validate the influence consumer financial health has on POS decision-making and indicate how behaviours are likely to change with economic conditions.

The J.D. Power Consumer POS Payment Program measures usage behaviours and customer satisfaction with 11 POS payment methods and 30 POS payment brands that offer debit cards, digital wallets and BNPL loans. The program includes four J.D. Power syndicated studies: the POS Choice Satisfaction Study; Debit Card Satisfaction Study; Digital Wallet Satisfaction Study; and BNPL Satisfaction Study. Collectively, the studies captured the responses of 62,635 consumers and were fielded from April through June 2023.

Switzerland has drafted new rules to tighten money laundering regulations, holding lawyers, consultants and banks more accountable for reporting, scrutinising and controlling risks, setting a higher standard for the rest of Europe.

Swiss banks make it the world’s biggest manager of offshore wealth and their government has drafted new rules that will be presented in parliament in 2024 following consultation, with the aim of fighting old perceptions that it is a hot destination for criminals to stash ill-gotten gains.

They have received international pressure to provide more insight into corporate ownership where companies and entities like trusts cloak the identity of real beneficiaries and if the rules are accepted, those who manage such businesses or clients will be subject to due diligence rules and reporting obligations.

In an attempt to fight money-laundering via shell companies, the Swiss government also outlined plans to create a central registry which would track who actually owns legal entities, detailing company owners while giving the finance ministry power to impose sanctions.

The news follows increased global attention regarding financial crime as other European countries tightening their approach and implement measures to improve regulation.

Dr Henry Balani, Global Head of Industry & Regulatory Affairs for Encompass Corporation, commented: “The continuing global attention on financial crime and sanctions has forced regulators to up their game with regards to money laundering regulation, with Switzerland the latest example to level up its economic crime agenda. We’ve seen in the UK, for example, the introduction of the Economic Crime Bill as a direct result of public pressure against Russian Oligarchs, sparking a closer inquiry into ownership structures and it’s important that this approach spreads through to European countries to bolster the response to economic crime, with regulation a key component.

“As part of the fight against financial crime, organisations themselves should embrace technology for robust Know Your Customer (KYC) processes, which ensure compliance and detect financial criminals faster. Utilising dynamic KYC process automation, for example, is crucial to navigating complex ownership structures to identify beneficial owners, enabling businesses and regulators to take collaborative action to truly tackle financial crime.”

Korea Easy Payment Foundation, the official operator of ZeroPay, announced the introduction of Alipay+ global cross-border digital payments and marketing solutions at over 1.7 million merchants across South Korea, in a move to further ensure a smooth and convenient experience for Asian tourists.

Starting from today, users of six digital payment apps including Alipay, AlipayHK (Hong Kong SAR China), MPay (Macao SAR, China), TrueMoney (Thailand), and Touch 'n Go eWallet (Malaysia) will be able to travel and shop cashless in the country, by simply scanning the ZeroPay QR placed at the merchant's counter with their home e-wallet apps, entering the amount of payment and confirming the transaction. More Alipay+ partner e-wallets will join onboard in the coming months.

The tie-up between Alipay+ and ZeroPay through ICB is expected to enable Korean merchants, especially smaller ones, to offer a hassle-free payment experience for international tourists and increase their potential outreach to over 1.4 billion customers from China and Southeast Asia.

Introduced by the Seoul Metropolitan Government, ZeroPay is South Korea’s public QR-code-based digital payment service designed to help small businesses, with a direct transaction system that enables zero-fee settlement for merchants and digital payments through e-wallets for consumers.

Commenting on the new partnership with ZeroPay, Danny Chung, General Manager of Ant Group in Korea, Australia and New Zealand, said, “We've been striving to enhance the convenience of seamless payment services for Asian tourists visiting South Korea by connecting Korean merchants with a variety of mobile payment methods that their customers are most familiar and comfortable with. By partnering with ZeroPay, we are looking forward to driving more growth opportunities for local businesses and together playing a share to further solidify Korea’s position as one of the most popular destinations with its unique offerings and convenient experience.”

Hanyong Lee, CEO of ICB, said, “Through providing this service, we will help to revitalize inbound travel, which was dampened by COVID-19, creating an environment where more overseas tourists can pay with convenience in Korea. We expect that small businesses, which account for 94% of ZeroPay merchants, will pave the way in attracting foreign tourists through Alipay+.”

Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payment and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption.