Zero Hash, the leading global B2B2C crypto-as-a-service infrastructure provider, today announced it has partnered with Current, a leading U.S. financial technology platform, to provide access to no-fee crypto trading for its over four million members.

The integration with Zero Hash allows Current members access to buy and sell dozens of crypto assets without trading fees, including Bitcoin and Ethereum, in the Current app. Current members receive instant liquidity from their trades in their spending accounts, allowing them to buy, sell and access their funds instantly without the need to move money between accounts, wait for funds to settle or pay trading fees.

Zero Hash, the leading global B2B2C crypto-as-a-service infrastructure provider, removes the technological and regulatory complexities of fiat–to-crypto conversion. Zero Hash provides the complete building blocks for supporting crypto trading, including liquidity, custody, and regulatory and compliance infrastructure. Zero Hash brings the deep domain expertise of powering crypto products for some of the major consumer fintech platforms worldwide.

“The latest data shows that 75% of retail investors between the ages of 21 and 42 look to the crypto sector for the greatest investment opportunities, and nearly half already own cryptocurrency holdings. Against this backdrop, we are pleased to partner with Current on their first crypto product,” said Edward Woodford, CEO of Zero Hash. “We see the most agile fintechs now offering crypto to meet consumer demand and ensure their users remain sticky. Our turnkey solution for digital assets allows Current to focus on building innovative products and experiences for their customers, launching quickly and securely and with little regulatory burden.”

“At Current we have always been focused on onboarding people onto the financial system,” said Trevor Marshall, Chief Technology Officer, Current. “Now, through partnering with Zero Hash, we’re able to immediately onboard our over four million members to cryptocurrency through a trusted entity in Current. This allows Current members to be participants in these alternative networks and benefit from the value they create to improve their financial outcomes.”

Swiss FinTech vestr provides issuers of Actively Managed Certificates (AMCs) with the first independent software engine to digitize the value chain of active investment products. The platform empowers issuers to scale their AMC business, allowing them to focus on their core competencies. Discretionary investment managers use AMCs as a fast, flexible, and cost-efficient alternative to investment funds.

"The funding will be used to further develop the platform, onboard additional issuers, and become the de-facto market standard for AMC issuers." - Stefan Wagner, Head of Business Development at vestr

The vestr platform is already used by hundreds of professional asset managers. Bank Julius Baer, an early adaptor of the vestr platform, is pleased with the positive impact the technology has had on their business:

"The flexible vestr platform empowers our clients to create and manage AMCs in a highly performing and intuitive way."

GBG, the global expert in digital identity, has today launched GBG GO, its third-generation simple, cloud-hosted solution that enables businesses of all sizes to verify the identity of new customers. GO provides ready-to-go customer journey templates, an easy, drag-and-drop journey builder, and a smooth UI editor with a built-in customer consent check, enabling organisations to go to market in minutes, not days. 

Cion Digital, developers of the first enterprise SaaS blockchain orchestration and payments platform, today announced the company is expanding their operations to offer its suite of services to a broader portion of the financial services and retail sectors. Through this expansion, Cion Digital will broaden the asset classes they support through their lending platform to include traditional asset and securities-backed financial products in addition to crypto assets with the launch of the new Advisor Lending Platform.

Cion’s new platform connects wealth management firms and Registered Investment Advisors (RIAs) directly to banks and other lenders. The platform bridges the gap between banks and other lending institutions’ largely manually driven investment management processes and the needs of wealth advisors to provide their clients with a comprehensive and fully-integrated digital offering.

The Advisor Lending Platform automatically generates and curates a wide selection of high-value, low-risk loans from participating lenders based on borrower needs, financial situation, and the lender’s minimum credit requirements. This is achieved through Cion’s extensive connections with bank lenders as well as various major DeFi protocols. Cion’s loan platform will support a wide range of loan types with various collateralized assets that include digital assets, securities, bonds, and real estate. 

“We’re excited to announce the expansion of our services to encompass a broader portion of the financial sector,” said Snehal Fulzele, Founder & CEO of Cion Digital. “Our lending platforms have been built with scalability and usability as our primary focus, and we are excited to be able to offer our products to a larger audience who can now take advantage of a wider range of loan and payment options when borrowing or transacting online. With this phase of our growth now complete, Cion Digital is well positioned to further help companies strengthen their customer relationships by curating and processing the right lending and payments products based on their individual needs.”

Cion Digital’s Advisor Lending Platform streamlines the loan application process from within the advisor’s existing advisor portal platform, equipping wealth managers with the tools to more effectively meet increased client demand for greater transparency around offered products, service levels, fee structures, and easy access to real-time information and loan rates. The new platform enables wealth management firms and RIAs to provide a holistic solution that better meets client needs for more personalised service, a competitive array of products, and higher levels of transparency.

Cion Digital also announced today the finalizing of an agreement with Bank 34, a wholly-owned subsidiary of Bancorp 34, Inc. [OTCQB: BCTF]. Founded in 1934, Bank 34 has four full-service community bank branches, in New Mexico and Arizona.

“We’re excited to work with Cion Digital which will enable us to proactively offer a wider selection of loan products to wealth management firms and RIAs,” said Kevin Cutter, Chief Lending Officer of Bank 34. “Integration with the Advisor Lending Platform also provides us with greater efficiencies by streamlining the entire offer and approval process end-to-end.”

In addition to the Advisor Lending Platform, Cion Digital’s technology and services also include a turnkey Payments Platform that provides retailers with the ability to offer their customers alternative payment methods and a Crypto Lending Platform that connects digital asset holders to various major DeFi protocols to offer crypto-collateralized loans. 

• 19.10.2022 -- 11:23 am

Currencycloud, the experts in simplifying business in a multi-currency world, has become a preferred FX partner for Integrated Finance, the London-based Fintech infrastructure platform that helps businesses build, expand and manage the financial infrastructure, delivering easily integrate FX products for existing payment platforms.

Integrated Finance helps Fintechs launch and scale their business, offering core banking solutions as well as partnering with best-in-class financial services providers to offer a marketplace of pre-built integrations available via a single API.

Building on their infrastructure-as-a-service, this new partnership will allow Integrated Finance’s Fintech customers to access the benefits offered by Currencycloud, enabling them to quickly and easily build cross-border payments and FX functionality into their platforms. Currencycloud will also be able to leverage the Integrated Finance platform to offer their existing users a more streamlined integration into additional financial infrastructures such as KYC and transaction monitoring and accelerate the onboarding process for new customers from months to weeks. 

As a customer of both Integrated Finance and Currencycloud, Fintech company Silverbird is well-positioned to leverage the benefits that this partnership creates. Max Faldin, CEO at Silverbird, comments, “When we looked to launch our digital platform, we needed a partner with expertise in international payments, cross-border trade and foreign exchange, and quickly decided on Currencycloud as the platform that we would use to build our go-to-market strategy. As we wanted to scale quickly, without focusing our efforts on banking infrastructure and integrations, we decided to work with Integrated Finance to give us pre-integrated back-end and customer interfaces that allowed us to launch and grow at lightning speed. This allowed us to focus our energy on delivering the things that mattered to our customers, and enabled us to launch in weeks rather than months, gather market feedback and expand our banking partnerships, without distracting us from our main goal of transforming cross-border international trade for the global SME market.”

Amar Kotak, Head of Partnerships at Integrated Finance, said, “We continue to offer our Fintech customers the best-in-class solutions which they can access via a single API, and Currencycloud is a leader in the currency exchange market. This partnership demonstrates our commitment to expanding our core banking solutions and integrating innovative products into our infrastructure-as-a-service.” 

Richard Stockley, Director of Partnerships at Currencycloud, adds, “The Integrated Finance team shares our vision of creating more readily deployable products in the Fintech ecosystem to meet the growing demands of the industry. This partnership allows us to leverage the expertise of other providers and improve our core offering for our customers. ” 

Micro, Small and Medium Enterprises (MSMEs) in Kenya will now be able to access working capital financing and a wide range of other business solutions following today's launch of Solv in Kenya. In addition to providing access to multiple financial institutions, the full-stack platform promises to be a growth partner, one that empowers businesses by providing access to new markets within Kenya as well as helping to resolve key operational challenges.  Operating across all Kenyan cities, Solv is backed by SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm. 

With over 10 million MSMEs that exist as either formal or informal businesses, the Kenyan MSME  sector employs more than 85 per cent of the Kenyan population and contributes close to 30 per cent of the country’s GDP. Yet these MSMEs continue to face unique challenges which not only impact their profitability but also their speed of growth and ability to scale-up operations. Among the top challenges that MSMEs face is access to formal and reasonably priced credit; MSMEs have slim chances of accessing bank loans and when they do, the conditions and pricing are not favourable to the borrower.  

Solv bridges this gap by bringing anchors and their retail ecosystem to a digital marketplace,  enhancing creditworthiness and providing access to multiple financial institutions that offer financing solutions based on the MSME’s risk profile from which the MSME can then select the right option for them. Solv’s B2B platform also offers Kenya’s MSME sector an open and inclusive trade ecosystem across the entire value chain – from facilitating connections and negotiations with verified MSMEs and financial institutions to timely and easy access to finance as well as simplified business support functions. These are critical elements that will help expand market access, bring operational efficiencies, and shape success for millions of small businesses across the country. The intuitive and user-friendly platform that is available as both a mobile phone app as well as a web-based app, also brings the power of technologies like artificial intelligence and machine learning – emerging technologies that are usually only accessible to more established players – to the MSMEs and help them conduct their business with multiple stakeholders in a trusted environment. 

Said Sheila Kimani, Solv Kenya’s CEO: “We are very excited to go to market in a much bigger way now following a successful pilot of our initial product, Supply Chain Financing, which has seen over  3,000 MSMEs and more than 10 multinational companies participating and engaging on the platform in ways that have altered the course of MSME business in Kenya. We are looking at signing  up 10,000 businesses by the end of this year.” 

Catherine Muchai, General Manager of Outlook Index, a supplier that participated in the pilot, said:  "Since enrolling on the Solv platform, my customers are now able to buy more stock using the working capital solution from Solv. I love the convenience and the choices my customers now have.  Solv has already had a huge impact on our business with just this first solution – I look forward to  what else they have in store for me and my business in the months to come.”  

Supply Chain Financing is just the first among several products that are lined up for rollout to market to support MSMEs in Kenya and place the power of convenience, speed and access in the hands of MSMEs.  

Jiten Arora, Member, SC Ventures said: “MSMEs continue to be the most underserved industry segment across the globe despite their significant role and sizeable contribution to any economy.  We set up Solv in India in 2020 to address Indian MSMEs’ key challenges by making access to commerce and financing a reality and soon became a trusted growth partner to MSMEs across the country. Now, in just under two years, we’re set to do the same in and for Kenya.” 

First launched in India in December 2020 with plans to expand globally, Solv Kenya marks the company’s first step towards global expansion. In June this year, Solv raised US$40 million in Series  A funding led by marquee investor, SBI Holdings, with participation from SC Ventures, to propel the company’s global expansion plans, building on the success of Solv’s strong performance in India.  Solv has set its sight on further global expansion to 300+ cities in India, Africa, and Southeast Asia. 

New international money transfer provider, Atlantic Money, today announces its official launch in Ireland, continuing its expansion in Europe after Belgium and Germany. For the first time, consumers in Ireland can make international money transfers for a fixed fee of €3 at the current exchange rate for transfers up to €100,000. The low-cost transfers can be made via the Atlantic Money iOS App.

The firm, co-founded by Patrick Kavanagh and Neeraj Baid, early employees at trading giant Robinhood, drastically undercuts established providers, such as PayPal, Revolut and Wise. For example, someone sending €3,500 to GBP would see at least 75% savings, with larger transfers up to 99% cheaper. Despite the cost of sending money internationally being largely fixed per transaction, these providers have a variable pricing model meaning the more you send, the more you pay.

Atlantic Money is particularly cost-effective for people that regularly transfer large amounts abroad such as Ireland’s estimated 30,000 cross-border workers, its growing immigrant population and residents with overseas commitments such as tuition fees, holiday homes and credit cards.

Atlantic Money’s app is the most simple, slick and cost effective way of moving money across borders. Users simply download the app, go through a one-minute verification process, and can immediately begin transferring money. They can select standard delivery or opt for express delivery for a small additional fee of 0.05% – a €1,000 express transfer costs just €3.05.

Customers can send money from Ireland in EUR into eight currencies including USD, GDP, AUD, CAD, SEK, NOK, DKK, and PLN, with new currency corridors and advanced product features being added continuously post-launch.

 Patrick Kavanagh, co-founder of Atlantic Money, said:

"The first generation of cross-border payment fintechs did a great job initially, but their flexible pricing models penalise people that have to send significant amounts of money abroad regularly and they’ve lost focus in their quest to build the next superapp. We are disassembling this approach by being laser-focused on doing one thing better than anyone else – getting people’s money from one currency and country to another, as efficiently as possible. We are grateful to our current and new investors for their continued support and excited to provide consumers in Ireland with a best-in-class customer experience and unmatched cost savings.”

Neeraj Baid, co-founder of Atlantic Money, said:

“We are already seeing some fascinating use cases and delivering substantial cost savings for our customers. For example, one of our customers transferred €100,000 to GBP which arrived in minutes for the price of €3.05, a 99% saving compared to Wise or Revolut.”

Atlantic Money was founded in 2021 and has been operating in the UK since March 2022, where it is regulated by the Financial Conduct Authority (FCA). In June, the company received its official EU licence from the National Bank of Belgium (NBB), the first company to do so in a year, and will soon launch in other European countries besides Germany and Belgium. 

Atlantic Money is backed by investors Amplo, Ribbit, Index Ventures, Kleiner Perkins, Elefund, 20VC, Day One Ventures and the founders of Robinhood, who invested a total of USD 7.5 million in the seed funding round.

Atlantic Money is currently available as an iOS app. Android will follow in the coming weeks.

Ebury, one of Europe’s largest fintechs and a global provider of transaction payment solutions, has established a  branch in Luxembourg, registered under CSSF regulations to support managers in the alternative investments sector. 

For entities being set up in Luxembourg, Ebury provides a variety of services such as issuing certificates which are required by local regulations to prove that funds have been blocked until company formation is complete. 

The office will allow Ebury to address the growing demand from corporate service providers and alternative investment fund managers for better cross-border payment services than those offered by traditional institutions. 

Luxembourg is a globally recognised location for the international alternative investment industry hence Ebury has invested significantly in its proposition, boosting operations in Luxembourg and expanding its international footprint with dedicated specialists across 10 countries. It has also developed a new and improved offering encompassing support for MIFID compliance, FX risk management, cash management and treasury solutions.

Last week Ebury exhibited at ALFI London Conference where their representatives met with professionals across the sector and discussed the challenges they face when setting up their presence in Luxembourg. Following this success, Ebury will participate at ALFI Private Assets Conference in Luxembourg in November. Constantly investing in this sector, Ebury is sponsoring The Private Equity International for CFOs & COO forum which will take place in London on 15-16 November 2022. 

Lamin Jaiteh, Global Head of Institutional Solutions at Ebury commented: “Luxembourg is a hub for alternative investments and so establishing our presence in this geography will be crucial to achieving our ambitious aims in the sector.

“We have witnessed huge demand from alternative investment managers for an institutional partner with the scale and speed of Ebury to meet these needs and provide an alternative to traditional providers. In a rapidly changing world, flexibility is key, which is one of our USPs. We are confident that we can establish ourselves as THE non-banking provider of choice for fund managers and corporate service providers.”

Michel Post, Director of Institutional Solutions at Ebury commented: “Ebury Institutional Solutions is fully dedicated to this sector. Our staff understand the dynamics in the markets and we have the technology and products to cover the needs of our prospective clients, so they can focus on their core business.” 

With offices throughout Europe, Americas and APAC, Ebury can rapidly support any international demands fund managers and corporate service providers may face, such as establishing accounts for new funds and entities, providing escrow to support cross-border M&A or implementing balance sheet hedging structures.

Nexi, the European PayTech, and Illimity Bank S.p.A. (“Illimity” or the “Bank”), a high-tech Banking Group, announce a new partnership to support Italian SMEs: b-ilty, Illimity's digital store of financial and credit services aimed at small and medium-size enterprises, expands its offering with Nexi's digital collection solutions.

As of today, Italian SMEs will be able to rent or purchase Nexi's collection products and services by accessing the b-ilty platform, thus equipping themselves with the best technology solutions available on the market that will allow them to accept any type of payment in a convenient, swift and secure manner.

Through the b-ilty portal, in fact, customers will be able to access a dedicated offering specially designed for them by Nexi and digitally request through the Nexi portal the products best suited to their needs. The signing of the contract is also carried out in a totally digital manner, thus providing for a practical and fast user experience, allowing entrepreneurs and SMEs to carry out the transaction from their own offices, at any time, without the need to go to a bank branch and without any paper documents.

Furthermore, the range of products made available by Nexi together with the b-ilty digital platform, will create an innovative and unique offering dedicated to SMEs to support them in a market that is increasingly demanding best-in-class technologies to meet the needs of various product categories.

Carlo Panella, Head of Direct Banking at illimity, commented: "The partnership with Nexi allows us to further expand the b-ilty offering by making available, once again, a simple solution that provides real support to businesses. b-ilty was, indeed, created to simplify SMEs' activities - the constant evolution of the offering will therefore continue along this path to keep ahead of the ever-changing and diverse needs of businesses.

The digital payments collection offering, the setup of the POS terminal and all technical support services are provided by Nexi - a guarantee of reliability that comes on top of the availability of a personal Relationship Manager for each b-ilty customer and Smart Care, the 24/7 professional call center provided by Illimity.

"The penetration of digital payments is growing significantly throughout Europe, including in Italy where they now account for about one-third of all payments and are steadily gaining momentum," said Giulio Vasconi, Head of Marketing Merchant Services & Solutions in Nexi. "The partnership with Illimity allows us to take another fundamental step towards the spread of digital collection solutions capable of tapping into the needs of SMEs and guaranteeing them tangible advantages in terms of efficiency, speed, reliability, increased business, as well as compliance with the latest regulatory requirements. Additionally, this agreement makes it possible to meet the needs of an ever-growing number of SMEs that favor digital channels to purchase the most suitable products and solutions for their business”.