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Chainlink and 8 Major Market Participants Launch AI-Powered Corporate Actions Initiative To Address Unstructured Data Challenge for the Financial Industry

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The industry initiative brings together leading financial and market infrastructures, Euroclear and Swift, along with some of the world’s largest financial institutions, including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank.

SAN FRANCISCO, Oct. 21, 2024 /PRNewswire/ — Chainlink announced today the results of an industry initiative that harnesses the combined advancements in AI, oracles, and blockchain technology to address the lack of real-time and standardized data around corporate actions. This initiative brings together financial and market infrastructures Euroclear and Swift, as well as major financial institutions including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel, and Sygnum Bank.

Along with these market participants and three blockchain ecosystem partners—Hyperledger Besu, Avalanche, and ZKsync—the initiative successfully demonstrated how Chainlink decentralized oracles can be used in combination with large language models (LLMs) to validate and deliver critical financial data onchain. The specific LLMs used included OpenAI’s ChatGPT 4o, Google’s Gemini 1.5 pro, and Anthropic’s Claude 3.5 sonnet. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) was then used to securely move the onchain corporate actions data across various public and private blockchains.

Current inefficiencies in corporate action processes cost regional investor, broker, and custodian businesses approximately $3-5 million each annually, with 75% of firms re-validating custodian and exchange data manually. These issues stem from inconsistencies in structure, format, terminology, timeline, medium, and data standards for dissemination. This industry-wide initiative with Chainlink introduces a novel solution using Chainlink oracles, which provide a unified golden record around corporate actions data that is accessible in real-time. This approach mitigates the need for manual reviews and enables all participants, from custodians to asset managers, to have near-instant access to accurate and standardized data.

The initiative successfully demonstrated how LLMs can be used in combination with Chainlink for near real-time data distribution of corporate actions events across three blockchain networks. With its novel approach of an interoperable, unified golden record, the initiative marks a significant architecture milestone in the ongoing journey to transform the management and dissemination of corporate actions data.

“The combination of AI and oracles is a powerful tool for taking corporate actions data and turning it into highly reliably structured data. Turning various pieces of disconnected corporate actions data into unified golden records that can then be relied on by hundreds of market participants as a definitive, single source of truth is truly a huge step forward in how financial markets deal with critical and error-prone data. Solving this problem creates a lot of advantages for asset managers, banks, and financial market infrastructures to all be in sync many times faster than today, at a fraction of the cost, and with a massive reduction in costly errors that affect the financial system.” — Sergey Nazarov, Co-Founder of Chainlink

“By collaborating across the industry and leveraging cutting-edge technologies, we can address major pain points and redesign workflows for greater efficiency, transparency, and value. With proper implementation, co-creation allows AI and DLT to amplify each other’s strengths, creating golden records accessible to all in real time and paving the way for transformative solutions.” — Stéphanie Lheureux, Director Digital Assets Competence Center, Euroclear

“The complexity of corporate actions is a relevant and appropriate use case for the convergence of AI, oracles, and blockchain technology. By leveraging AI and Chainlink oracles to interpret, standardize, and deliver high-value unstructured data, we can dramatically reduce the manual processes required, enabling significant potential operational efficiency and cost reduction while ensuring that data flows through the system with the required levels of accuracy and transparency.” — Mark Garabedian, Director, Digital Assets & Tokenization Strategy, Wellington Management

“CACEIS fully supports industry efforts to create a blockchain-based ‘golden source’ of information to streamline corporate action management with data distributed in real time to all market participants. A shared data framework optimises existing operational processes, reduces error rates, and prepares the ground for further innovation in the field of asset tokenisation. Being at the cutting edge of technologies like AI, machine learning and DLT is key to CACEIS’ future service development and our IT investment strategy reflects that.” — Younes Ayouaz, Group Head of Project & Transformation – Custody and Cash Clearing Business Unit at CACEIS

While corporate actions are the first use case, unified golden records can also be applied to the valuation of private assets, risk management data, legal identifiers, security-level data, and more. The next phase of this initiative will use established Swift messaging standards to make onchain unified golden records interoperable with and consumable by existing mission-critical portfolio processing and management systems utilized by financial institutions.

Read the full report: Transforming Asset Servicing With AI, Oracles, and Blockchains.

Chainlink

Chainlink enables financial institutions to develop customized, compliant, and future-proof blockchain applications and tokenized assets. Chainlink has securely enabled over $16 trillion in transaction value and delivered more than 15 billion verified messages onchain across the blockchain ecosystem. Major market infrastructure providers and institutional banks have collaborated with Chainlink to successfully demonstrate how financial institutions can use existing infrastructure and messaging standards to interact with tokenized assets across any blockchain.

View original content to download multimedia:https://www.prnewswire.com/news-releases/chainlink-and-8-major-market-participants-launch-ai-powered-corporate-actions-initiative-to-address-unstructured-data-challenge-for-the-financial-industry-302281824.html

SOURCE Chainlink

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Increff Selects Easyship’s Leading Multi-Carrier API To Help Retailers Navigate Global Shipping

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January 13, 2025

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NEW YORK, Jan. 12, 2025 /PRNewswire-PRWeb/ — Easyship, one of the world’s leading multi-carrier shipping platforms, today announced a new partnership with Increff, a merchandising software leader specializing in inventory and warehouse management.

“By integrating Easyship’s best-in-class shipping technology, we are empowering our clients to scale globally with confidence and access 550+ shipping services,” said Kanika Bhalla, CRO of Increff. “This partnership reflects our commitment to equipping retailers with the tools they need.”

This collaboration marks a significant milestone in Increff’s expansion from a domestic technology powerhouse into North America, Europe, and Asia. By leveraging Easyship’s powerful multi-carrier shipping API, Increff’s 700+ global eCommerce clients can now access seamless logistics solutions spanning 220+ destinations worldwide.

Revolutionizing Logistics & Inventory Management

The integration of Easyship’s advanced shipping technology into Increff’s omnichannel Warehouse Management System (WMS) and Ship from Store solutions empowers retailers to:

Save up to 91% off retail prices on shipping labels, significantly reducing operational shipping costs and boosting store profitability.Access to 550+ courier services worldwide, ensuring unparalleled flexibility and control across North America, Europe, and Asia.An advanced courier selection algorithm that optimizes shipments for cost, speed, and reliability, streamlining domestic and international deliveries.

Driving Global Growth for Retailers

“By integrating Easyship’s best-in-class shipping technology, we are empowering our clients to scale globally with confidence and access more than 550 shipping services,” said Kanika Bhalla, CRO of Increff. “This partnership reflects our commitment to equipping retailers with the tools they need to thrive in competitive markets. Together, we are unlocking new revenue streams for our clients while enhancing their operational efficiency and customer satisfaction.”

This strategic collaboration enables Increff to expand its global footprint while meeting the needs of retailers in competitive markets. It combines advanced inventory management, merchandising, and logistics into one seamless solution, ensuring an optimized and efficient experience for global retailers.

Enhanced Value Through Innovation

With Easyship as its preferred global shipping partner, Increff reinforces its mission to deliver intelligent solutions that improve operational efficiency and elevate the customer experience.

“Partnering with Increff enables us to combine our powerful multi-carrier shipping tools with cutting-edge inventory management, creating a seamless experience for retailers looking to expand globally,” said Tommaso Tamburnotti, Co-Founder of Easyship. “This partnership exemplifies the close synergy between effective inventory management and worldwide logistics technology, enabling retailers to grow faster while streamlining their operations.”

Start Saving On Shipping Costs

Retailers already using Increff’s WMS can now access Easyship’s global courier network, enabling faster delivery to locations like the United States and Canada while saving up to 91% on shipping and fulfillment costs. These benefits demonstrate how the partnership addresses critical challenges for retailers expanding their reach and improving their operational workflows.

NRF 2025 Partnership Launch

The program will officially launch at NRF 2025, with full integration and product availability expected later in the year. Retailers can visit the Increff booth at the annual National Retail Federation’s ‘Retail’s Big Show’ expo for live demonstrations of the new partnership’s capabilities.

About Increff

Increff is a leading retail technology company specializing in solving complex inventory management and supply chain challenges for retailers. With AI-powered merchandising and cloud-hosted omnichannel solutions, Increff helps brands optimize inventory, improve sales performance, and make data-driven decisions. The company’s solutions currently serve over 700 global brands across diverse retail categories, from fashion and electronics to consumer packaged goods.

For more information, visit: www.increff.com

About Easyship

Easyship is a global shipping platform that empowers businesses of all sizes to simplify fulfillment, save on shipping costs, and enhance customer delivery experiences. Trusted by tens of thousands of merchants worldwide, Easyship offers retailers access to a global network of over 550 courier services with discounted rates and advanced shipping and productivity tools to compare carriers, print labels, track shipments, and automate pick and pack processes.

For more information, visit: www.easyship.com

Media Contact

Tommaso Tamburnotti, Easyship, 44 44 7724256658, press@easyship.com, https://www.easyship.com/developers

View original content to download multimedia:https://www.prweb.com/releases/increff-selects-easyships-leading-multi-carrier-api-to-help-retailers-navigate-global-shipping-302348505.html

SOURCE Easyship

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Skyee Receives In-Principle Approval (IPA) for Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS)

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January 13, 2025

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SINGAPORE, Jan. 13, 2025 /PRNewswire/ — Skyee Pte. Ltd. (“Skyee”) is excited to announce that it has been granted In-Principle Approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Skyee is a wholly owned subsidiary of Skyee Group a Chinese leading cross border payment solution provider in China, Europe, North America and North Asia. If obtained, the MPI license will allow Skyee to service its Singapore market, further enhancing the payment experience for cross-border sellers, streamlining payment processing, increasing efficiency, and reducing operational costs through Account Issuance, Domestic Money Transfer, Cross-border Money Transfer, Merchant Acquisition, and e-Money services.

Skyee Group, established in 2016, has consistently adhered to its mission of “linking the global financial network, building a new payment system, and providing all-around convenience for cross-border fund transfers.” Skyee’s receipt of the IPA from MAS underscores its strong reputation as a responsible digital financial technology company. By continuously optimizing its products and services, Skyee Group has secured strategic investment from Lakala Payment Group, China’s first A-share listed third-party payment company, and has become a member of its group.

Kozen Tan, CEO of Skyee Singapore has spearheaded and actively drive the acquisition of this license and stated, “Being granted this IPA from the Monetary Authority of Singapore is a big milestone for Skyee, especially as we expand our reach and payment services across geographical borders, solidifying our position in one of the most significant financial markets globally”.

This announcement follows Skyee Group track record and contributions to the emerging internet-based global financial system, further cementing its position as a trusted and well-regulated operator.

About Skyee: Based in Guangzhou, China, Skyee is a cross-border payment technology company with offices in Hangzhou, Shenzhen, Hong Kong, Singapore, Los Angeles, London, Tokyo, and Canada. Dedicated to providing innovative payment solutions for users with cross-border funding needs. Skyee offers safe and convenient global cross-border payment services for various sizes of overseas merchants through its self-developed payment platform. Skyee provides personalized solutions for more than twenty global payment scenarios to enhance payment efficiency and user experience, meeting diverse payment needs.

View original content:https://www.prnewswire.com/apac/news-releases/skyee-receives-in-principle-approval-ipa-for-major-payment-institution-license-mpi-from-the-monetary-authority-of-singapore-mas-302348518.html

SOURCE Skyee Pte. Ltd

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KT&G Establishes Uzbekistan Corporation Strengthening Eurasian Market Competitiveness

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59 minutes ago

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January 13, 2025

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– Office to corporation conversion reinforces local operations heightening global competitiveness

SEOUL, South Korea, Jan. 13, 2025 /PRNewswire/ — KT&G (KRX : 033780) is establishing a corporation in Uzbekistan handing local operations for earnest market expansion and increased profitability, aiming to strengthen competitiveness in the Eurasian region.

In 2023, KT&G set up an office in Uzbekistan and entered the market with the superslim brand “ESSE”.

Through the corporation conversion of the Uzbekistan office, KT&G plans to reinforce long-term competitiveness in the Eurasian region. To increase market presence, KT&G will increase the size of the local workforce by four times, and continue to widen distribution coverage by establishing detailed operational networks.

KT&G also plans to grow “ESSE” as a major brand in the Uzbekistan market, anticipating revenue and profit growth from market expansion.

KT&G has established regional CIC’s (Company-In-Company) in Eurasia and the Asia-Pacific regions to facilitate global business expansion. KT&G currently is operating in 132 countries across the globe through six sales corporations and three branches. Going forward, KT&G will continue to expand its global corporations to support direct global operations and continue efforts to increase profitability.

A KT&G spokesperson said that “the establishment of the Uzbekistan corporation is part of the ongoing investment and innovation for the leap to a ‘Global Top-Tier.’ KT&G will continue its global growth trends by reinforcing local operations.”

 

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View original content:https://www.prnewswire.co.uk/news-releases/ktg-establishes-uzbekistan-corporation-strengthening-eurasian-market-competitiveness-302348712.html

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