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ADGM Continues Rapid Growth, Issues 1,271 New Licences in H1 2024: Assets Under Management Increase by 226%

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ABU DHABI, UAE, Aug. 14, 2024 /CNW/ — ADGM, the international financial centre (IFC) of the UAE’s capital, continues its growth trajectory, reporting exceptional performance in the first half of 2024. As the fastest-growing financial centre and the only jurisdiction with the direct application of the English Common Law in the region, ADGM’s consistent achievements and strategic initiatives are a catalyst to the growth of Abu Dhabi’s financial sector growth.

The momentum of ADGM bolsters the financial sector’s contribution to Abu Dhabi’s non-oil economy, which grew to 9.7% in Q1 2024. ADGM is increasingly becoming a global magnet for asset management firms, outstanding talent, and investments, and is a cornerstone in cementing Abu Dhabi’s position as the ‘Capital of Capital’.

Commenting on ADGM’s continued growth and strong performance, H.E. Ahmed Jasim Al Zaabi, Chairman of ADGM said, “As a catalyst for Abu Dhabi’s financial sector, ADGM’s remarkable growth in the first half of 2024 fosters Abu Dhabi’s position as a premiere hub and a destination of choice for global, regional and local corporations and financial institutions. ADGM’s strategies have been aligned with Abu Dhabi’s visionary leadership to position the UAE’s capital as a leading international financial centre. Through the establishment of a thriving ecosystem and our pursuit of innovation, excellence, and strategic development, we are proud to have propelled towards the exceptional success of realising the ADGM Growth Strategy 2023-2027 targets, underscoring the accelerated growth of Abu Dhabi’s financial industry.”

He added, “ADGM’s contribution to Abu Dhabi’s stature as a global financial powerhouse and its sustainable economic growth will continue to capitalise on opportunities that will further elevate Abu Dhabi’s Falcon Economy to unprecedented heights throughout this exceptionally successful year and beyond.”

Surge in Operational Entities and New Licences Reflect Strong Growth 

One of the significant increases in H1 2024 is the operational entities rising to 2088, which includes 231 financial services entities – representing a 31% increase compared to H1 2023. This growth is also complemented by the number of Financial Services Permissions (FSP) granted in the first six months, equivalent to 42 – a growth of over 90% compared to the June 2023 numbers which stood at 22 FSPs issued.

Moreover, the number of licences issued at the end of June 2024 showcased 1,271 new licences – 20.5% more licences than a year earlier.

Financial Services Sector Led by Asset Management Positions Abu Dhabi as the Region’s Financial Hub

In H1 of 2024, AUM within ADGM grew by 226% compared to the same period last year. By the end of June 2024, the number of fund and asset managers operating in ADGM reached 112, managing 141 funds.

Major names within the asset management sector that have been granted an FSP include AXA IM, Eiffel Investment ME, GQG Partners, SS&C Financial Services, and Morgan Stanley. Furthermore, several entities within this space have also received their In-Principle Approval (IPA) including Aspen Digital, Blantyre Capital, Blue Owl, Fiera Capital, Infini Capital, I Squared Capital, Ninety One Gulf Capital, Peninsula, Token Bay Capital, Triton, and Vizier. The pipeline of entities within the asset management sector remains strong across hedge funds, private equity, institutional funds and venture capital firms set to be anchored in ADGM.

While asset management continues to lead the growth of ADGM, additional financial services entities across banking, payment services, wealth management and insurance sectors have also joined the ADGM ecosystem by receiving either an FSP or an IPA. The list of granted FSPs includes Barrenjoey, Deutsche Bank AG, Fidelis OPCO, Laser Digital, and Paxos Issuance MENA. Prominent names that received an IPA includes Oyster Reinsurance Brokers, and SMBC Bank International, among others.

In May 2024, ADGM hosted the second edition of the UAE-France Investors Meetup – an exclusive gathering, led by His Excellency Bruno Le Maire, the French Minister of Economy, Finance, and Industrial and Digital Sovereignty and attended by 24 French Asset Management firms with USD 1.6 Trillion AUM. The Meetup represented a unique opportunity for stakeholders in both countries to forge strategic alliances, identify new opportunities, and drive mutual growth.

Bringing Abu Dhabi to the World: International Roadshows Meet Unprecedented Demand 

ADGM conducted a series of roadshows in the first half of 2024, covering multiple countries and regions including the USA, Europe, Hong Kong and the Chinese subcontinent.

In the USA, ADGM engaged in over 40 bilateral discussions with hedge funds, private equity funds, and venture capital firms at the iConnections Global Alts 2024. In Europe, ADGM held over 100 bilateral discussions with senior leaders in the Private Banking, Wealth Management, Private Equity, VC and Hedge Fund sectors in France, Switzerland, and other European hubs. These engagements occurred amidst the surge of global wealth into the UAE.

The roadshow in China and Hong Kong concluded with strategic meetings involving 75 entities. Discussions focused on cross-border regulatory cooperation with the Hong Kong Monetary Authority, expansion plans for several Hong Kong and Chinese firms in Abu Dhabi, and the enhancement of liquidity strategies in both regions. It also featured the ADIO-organised Shanghai Investment Summit, where the announcement of a new trade forum – ‘The UAE-China Summit presented by HSBC’ – was announced, set to be a sub-event of the upcoming Abu Dhabi Finance Week (ADFW) in December.

Leading the Path for Sustainable Finance and ESG in the Region

Following the introduction of the region’s first comprehensive Sustainable Finance framework in 2023, the Registration Authority (RA) and the Financial Services Regulatory Authority (FSRA) of ADGM have proposed enhancements to these regulations. A discussion paper published in May 2024 invited input from industry experts including fund managers, asset managers and companies subject to the Companies Regulations 2020. These proposed enhancements provide greater clarity around the FSRA’s requirements for ESG-labelled investment products that pursue broader sustainability objectives than only environmental. It also fosters demand for “green” products and services by aiming to provide investors with confidence that the risk of greenwashing has been addressed. Additionally, the consultation paper invites discussions around ADGM’s role in encouraging ADGM-based entities to identify and address climate-related risks to their businesses and develop their net-zero transition plans that support the UAE’s Net Zero by 2050 Strategic Initiative.

At the Forefront of Blockchain Innovation

Following the introduction of the Distributed Ledger Technology (DLT) Foundations Regulations, ADGM has signed strategic partnerships with the Solana Foundation, a non-profit organisation dedicated to decentralisation, adoption, and security on the Solana network to enhance DLT solutions and advance blockchain innovation. Another MoU was signed between ADGM and Hacken, a global leader in blockchain security auditing to collaboratively set new benchmarks for blockchain security and compliance as well as on-chain monitoring solutions in relation to ADGM’s DLT Foundations framework.

ADGM’s Workforce Booms Amid Abu Dhabi’s Growing Appeal with more than 2,500 New Jobs

Sustained investments across various sectors in Abu Dhabi have led to a strong performance in the Global Liveability Index 2024 published by the Economist Intelligence Unit. Abu Dhabi is the highest-ranked city in the MENA region, these rankings highlight Abu Dhabi’s strengths in factors such as stability, infrastructure and education.

ADGM is enhancing its attractiveness as a preferred destination for professionals and investors. The workforce within ADGM’s Al Maryah Island has increased by more than 2,500 individuals, compared to the end of June 2023, and are now part of ADGM’s vibrant community.

ADGM’s Al Reem Island Expansion Fuels a Residential Surge 

Since the announcement of the expansion in April 2023, Al Reem Island has seen the introduction of 1,266 new residential units, bringing the total to 21,335. The growth in occupancy rates has remained steady, rising from 84.78% in March 2023 to 92.82% by the end of June 2024. With ADGM’s exceptional growth, many employees of the new companies established within its jurisdiction are choosing Al Reem Island as their place of residence. ADGM’s jurisdiction over both Al Maryah and Al Reem Island highlights its exceptional qualities, making it an ideal location to live, work, and conduct business.

ADGM Pioneers Seamless Business Migration in Al Reem Island

H1 of 2024 marks a significant phase in ADGM’s Al Reem Island transition post-expansion. A recent initiative includes revisions to ADGM’s licensing fee schedule, aligning with the transitional arrangements to Al Reem Island. Major reductions of 50 per cent and more to obtaining non-financial and retail licences within ADGM’s jurisdiction will take effect from 1st January 2025.

An information centre in Shams Boutik Mall was launched and two community events in 2024 organised to engage with the Al Reem Island business community, provide essential updates on licensing, registration fees, and transition processes. ADGM also introduced an incentive for existing non-financial and retail businesses on Al Reem Island, exempting them from paying any fees for obtaining an ADGM commercial licence providing they apply before 31st October 2024.

ADGM Academy’s Initiatives Paving Career Paths for 1020 Emiratis in H1 2024

The ADGM Academy has been contributing towards the UAE’s National Agenda by partnering with leading players from various sectors. Since its inception ADGMA has achieved 98% employment placement of 3629 Emirati Nationals within the Private Sector through its National Development Agenda.

In H1 of 2024, ADGMA initiatives supported the training and placement of 1020 Emirati nationals in professional job profiles across various companies in the UAE.

 

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SOURCE Abu Dhabi Global Market

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Leoguar Electric Bike Makes Christmas Unforgettable with Exclusive Holiday Offers

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HOUSTON, Dec. 25, 2024 /PRNewswire/ — As the holiday season draws near, Leoguar is excited to offer exclusive deals on their range of electric bikes, bringing families together for memorable moments. With a collection designed to combine fun and fitness, this Christmas is the perfect time to gift an unforgettable experience.

“This Christmas, we’re inviting families to rediscover the joy of outdoor exploration. Our bikes help you bond, stay active, and make the most of every moment,” said the Leoguar COO.

Leoguar’s holiday lineup offers premium e-bikes for every rider, now with unbeatable deals: 

Flippo Folding eBike: A lightweight, foldable ride perfect for urban commutes. Upgrade to the Flippo Pro for enhanced performance with a torque sensor for smoother rides.

Fastron Fat Tire eBikes: Built for rugged terrains, the Fastron features a durable, rugged build, and speeds up to 28 MPH, making it the perfect choice for adventurous riders.

Zephyr Beach Cruiser eBikes: Crafted for effortless coastal cruising, the design combines style and comfort, featuring a comfort saddle that ensures a smooth, seamless ride.

Sprint Utility eBike: A versatile, practical choice featuring a sturdy frame and passenger seat, perfect for errands or leisure.

Trailblazer EMTB: Designed for tough off-road trails, the model features a 500W mid-drive motor, offering powerful performance, extended range, and excellent climbing ability.

To make this holiday gift even sweeter, all Leoguar bikes come with free shipping and a two-year warranty for worry-free riding. Additionally, customers can join the holiday giveaway to win prizes like $59 bottle holders, or even a free e-bike!

Leoguar bikes cater to all experience levels, offering comfort and a seamless riding experience. They promote health benefits like improved fitness and stress relief while creating lasting memories on scenic rides.

“Whether it’s cruising the city streets, riding mountain trails, or relaxing by the beach, a Leoguar electric bike is the ideal Christmas gift,” the COO added. “This holiday season, choose a cycling gift that will last for years to come — there’s no better way to kick off the new year.”

To check out the full collection and take advantage of these limited-time offers, visit www.leoguarbikes.com

About Leoguar:

Leoguar is an eco-conscious e-bike brand founded by Johnny, an engineer with decades of industry expertise. Combining innovation, agility, and power, Leoguar delivers high-quality electric bikes designed for adventure, sustainability, and individuality.

Media contact: lily@leoguarbikes.com 

 

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SOURCE Leoguar Electric Bikes

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2024 Financial Oscars: Waton Securities International Honored as “Outstanding Digital Empowerment Institution” of the Year

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SHENZHEN, China, Dec. 25, 2024 /PRNewswire/ — In early December, at the 18th Huaxia Institutional Investor Annual Conference of 2024, the 18th Golden Cicada Awards were announced. Waton Securities International was awarded the “Outstanding Digital Empowerment Financial Institution of 2024” for its significant achievements in securities brokerage and fin-tech sector.

The selection for the “Outstanding Digital Empowerment Financial Institution” focused on evaluating companies based on financial performance, market competitiveness, customer recognition, digital strategy planning and implementation, digital transformation outcomes, and risk control capabilities. Particularly, it highlighted cases that have made significant strides in digital empowerment.

The evaluation also emphasized the outstanding performance of financial institutions in their own digital transformation and the sound risk control abilities demonstrated during this process, ensuring that while pursuing innovation, companies can effectively manage and control risks. Waton Securities International distinguished itself among the contenders with its sophisticated technology platform, well-defined digital strategy, substantial transformation achievements, and commendable risk control mechanisms.

Established in Hong Kong in 1989, Waton Securities International has steadily grown with a deep understanding of professional financial services and regulatory compliance. It has obtained licenses 1/4/5/9 from the Hong Kong Securities and Futures Commission, becoming a fully licensed brokerage with comprehensive financial service qualifications. Through continuous technological innovation and digital transformation, it has successfully built a one-stop brokerage cloud service platform, promoting advanced digital financial technology globally. Its pioneering SaaS product, “Broker Cloud”, allows corporate clients to independently deploy and operate high-performance digital customer information management and trading systems without their own IT teams. The solution is relatively low-cost and adaptive to industry, which is the core competitiveness of Waton Securities International.

Data reveals that of the 1,100 securities firms in Hong Kong, approximately 600 are actively trading, yet fewer than 50 have developed their own mobile applications. On a global scale, among the 30,000 securities companies, only a handful—less than 300—feature brokerage trading Apps in App stores. This underscores a significant market demand for the digital enhancement of the securities sector.

With the swift growth of technologies like generative AI LLMs, blockchain, big data, and cloud computing, the securities industry can use these tools to streamline trading strategies, assess risks more accurately, and forecast market trends. These technologies also help the industry to move towards more integrated, platform-focused, and digital operations. The main goal of technology in finance is to increase the efficiency of financial institutions. A good starting point for applying technology is to focus on financial services and build a solid technical foundation for these institutions.

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SOURCE Waton Securities

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Mega Matrix Announced that the English Version of “Getting Even: The Secret Prodigy’s Playbook” Now Streaming on FlexTV

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SINGAPORE, Dec. 25, 2024 /PRNewswire/ — The highly anticipated English adaptation of the revenge rebirth series, Getting Even: The Secret Prodigy’s Playbook, officially premiered on December 19th on FlexTV, the world-leading short drama streaming platform operated by Mega Matrix Inc. (NYSE American: MPU). The series delves into the intricacies of power struggles within the White family, chronicling the protagonist’s journey of rebirth and empowerment to rewrite her destiny.

Audrey White, the legitimate daughter of the White family, was sent abroad at a young age due to family circumstances, gradually estranging her from her kin. When she finally returns home, eager to reunite with her family, she unexpectedly becomes the target of jealousy from Ruby White, the family’s adopted daughter. Harboring deep resentment, Ruby orchestrates a kidnapping plot, culminating in a devastating fire designed to test the loyalty and affection of the White family.

Left to perish in the flames, Audrey is abandoned by her family but heroically rescued by her uncle. Miraculously, she is granted a second chance at life, returning three years prior with the power to alter her fate. Determined to expose Ruby’s schemes, rebuild her family bonds, and claim her rightful respect and happiness, Audrey embarks on a journey of resilience and redemption.

FlexTV, operated by MPU, is a global leader in short drama streaming, delivering content in over 100 countries in multiple languages, including English, Japanese, Korean, Portuguese, Spanish, French, and Arabic. Known for its premium-quality dramas and unparalleled user experience, FlexTV has captured the hearts of audiences worldwide. The English version of Getting Even: The Secret Prodigy’s Playbook, now streaming on FlexTV, offers a compelling exploration of familial power dynamics, the complexities of human nature, and the protagonist’s growth and self-redemption in adversity. For more exciting content, please visit https://www.flextv.cc/.

#WealthyFamily #Revenge #Rebirth #ShortDrama #FlexTV #MPU

About Mega Matrix Inc.: Mega Matrix Inc. (NYSE American: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through its subsidiary, Yuder Pte, Ltd.. Mega Matrix Inc. is a Cayman Island corporation headquartered in Singapore. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; ability to establish the investment fund with 9 Yards Communications under the memorandum of understanding; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the “Risk Factors” in documents filed by the Company’s predecessor, Mega Matrix Corp., with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, as amended, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Corp.

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