Connect with us

Technology

Paxos Introduces Global Dollar (USDG)

Published

on

 Built to power global stablecoin adoption

SINGAPORE, Oct. 31, 2024 /PRNewswire/ — Paxos, the leading regulated blockchain and tokenization infrastructure platform, today introduced Global Dollar (USDG) – a US dollar-backed stablecoin that is substantively compliant with MAS’ upcoming stablecoin framework. Paxos Digital Singapore Pte. Ltd. is the issuer of USDG and is regulated by the Monetary Authority of Singapore (MAS). Paxos’s affiliate, Paxos Global Pte. Ltd., will partner with global exchanges, wallets and platforms to distribute USDG to individuals and institutions.

USDG is a new, safe and trusted stablecoin that will accelerate the global adoption of stablecoins. It is designed to support the needs of regulated institutions that maintain higher standards of operation. USDG is available today on Ethereum and will be issued on more blockchains in the near term. Paxos is required to hold only high-quality liquid assets to back USDG – US dollar deposits, short duration US Government securities and other such cash equivalents. This ensures USDG maintains 1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times.

Ronak Daya, Head of Product at Paxos, said: “Enterprise interest in stablecoins has never been higher than it is today, but the market lacks a solution that combines regulatory compliance with real economic incentives for enterprises. Keeping with the Paxos tradition of powering infrastructure for the world’s most important and innovative enterprises, we are thrilled to launch the Global Dollar (USDG). USDG offers a trusted solution with a top-tier banking partner in DBS that will be the catalyst to drive stablecoin innovation and enterprise adoption at a global scale.”

Paxos has a strong track record of building blockchain solutions that financial industry leaders can trust. USDG represents the sixth digital asset to be successfully issued by Paxos, the first from Paxos Digital Singapore. Its digital assets include PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG), which are issued by Paxos Trust Company, LLC, a limited purpose trust company overseen by the New York Department of Financial Services. Paxos International, a UAE-based affiliate of Paxos regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), issues the yield-bearing stablecoin Lift Dollar (USDL).  Each of these assets provides users with a quality, 1:1 asset parity overseen by the highest levels of regulatory oversight. The company is the trusted partner for enterprises around the world to tokenize, custody, trade and settle assets.

DBS Bank, Southeast Asia’s largest bank by assets and recognized as the Safest Bank in Asia for 16 consecutive years by Global Finance, will serve as Paxos’ primary banking partner for cash management and custody of USDG reserves. Dollars backing USDG will be held in reserve and managed by Paxos Digital Singapore via DBS.

The smart contract of USDG can be viewed via Etherscan and GitHub. Businesses interested in learning more about Global Dollar can contact the team at www.globaldollar.com.

About Paxos
Paxos is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.

Paxos partners with leading global enterprises to tokenize, custody and trade assets. Its blockchain solutions are used by leaders like PayPal, Interactive Brokers, Mastercard, Mercado Libre and Nubank. Paxos is licensed to engage in virtual currency business activity by the NYDFS and is the issuer of numerous regulated digital assets including PayPal USD (PYUSD), Pax Dollar (USDP) and Pax Gold (PAXG). Its affiliate company Paxos International issues the yield-bearing regulated stablecoin Lift Dollar (USDL). Prudentially regulated by the NYDFS in the US, the MAS in Singapore and FSRA in Abu Dhabi Global Market, Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures.

View original content to download multimedia:https://www.prnewswire.com/news-releases/paxos-introduces-global-dollar-usdg-302293389.html

SOURCE Paxos

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

TPIsoftware and Taipei Medical Alliance Sign MOU to Advance Healthcare Technology and Medical Research

Published

on

By

TAIPEI, Nov. 1, 2024 /PRNewswire/ — TPIsoftware (7781) and Taipei Medical Alliance signed a Memorandum of Understanding on October 30 in a collaborative effort to advance healthcare technology and medical academia. The collaboration aims to facilitate digital transformation and AI innovation in healthcare and clinical services through efficient resource sharing. Regular seminars, training sessions and academic events are to be expected in order to deepen medical expertise and accelerate digitalization within the healthcare sector.

Prominent attendees include incumbent Deputy Minister of Health and Welfare Jen-Der Lue, former Deputy Minister Pi-Sheng Wang and former legislator Shih-Ying Tsai, along with representatives from leading medical institutions and organizations, such as The National Federation of Long-Term Care, Taiwan Medical Association, Taiwan Society of Aesthetic Plastic Surgery and the College of Medicine at National Chung Hsing University.

“This initiative brings together experts across diverse fields to pool resources and complement one another’s strengths, which is targeted to ultimately improve the quality of healthcare services in Taiwan,” commented Chung-Chieh Chao, Chairman of Taipei Medical Alliance, highlighting TPIsoftware’s specialties in successful digital transformation. “The implementation of AI-powered chatbots, modernization of hospital information systems and cloud transformation, along with Fast Healthcare Interoperability Resources (FHIR) launched by the Ministry of Health and Welfare that fosters seamless healthcare information exchange rely on a tech partner with extensive experience in digitalization to build integrated healthcare management.”

Chairman of TPIsoftware Ben Yao stated, “Teaming up with Taipei Medical Alliance shows our commitment to improving medical management and healthcare services. With over 15 years of experience transforming and modernizing digital financial services, we have solidified our foothold in Taiwan and overseas markets. We have been emerging into the healthcare sector by helping large-scale organizations implement digital strategies. We pride ourselves in helping clients deliver pain-free, seamless system upgrades without having to go through the hassle and disruptions. The use of AI chatbots ranges from booking an appointment online to making health-related queries and reviewing prescription guidelines. An integrated healthcare service platform enables access to patients’ medical history for accurate diagnoses, with a health management platform that monitors pre- and post-treatment data for better understanding of patient conditions. Through the alliance, we make a concerted effort towards strengthening the physician-patient relationship, improving digital health initiatives and data sharing with innovative technology.

About TPIsoftware

TPIsoftware is the No. 1 digital transformation software company in Taiwan, renowned for our formidable software development capabilities, modular design, and AI-driven technologies. We provide proprietary iPaaS middle platform DigiFusion, conversational AI series SysTalk.ai, sustainability management platform ESGswift, and enterprise security platform GadoSecurity to domestic and overseas markets. With extensive experiences in cross-national, large-scale projects, our robust R&D capability has earned the trust of customers across industries.

Subscribe to Newsletter | Website | Facebook | LinkedIn

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/tpisoftware-and-taipei-medical-alliance-sign-mou-to-advance-healthcare-technology-and-medical-research-302292529.html

SOURCE TPIsoftware

Continue Reading

Technology

Matrixport Launches Exclusive Structured Product “Buy Now Pay Later”, Pioneering Crypto Financial Derivatives Development

Published

on

By

SINGAPORE, Nov. 1, 2024 /PRNewswire/ — Matrixport, the world’s leading all-in-one crypto financial services hub, announces the official launch of its exclusive structured product “Buy Now Pay Later(”BNPL”)”, providing users with a new option for crypto investments. Following the exclusive launch of its structured product “Dual Currency,” BNPL is another groundbreaking offering from Matrixport, potentially spurring the next wave of innovation in the crypto financial derivatives market.

As a unique crypto-structured product exclusively launched by Matrixport, BNPL combines crypto assets with installment payment warrants, allowing users to secure the potential returns of their investment targets in advance. On the maturity day, users can either pay the final payment to obtain shares of the investment target or choose to forgo the final payment and directly settle the down payment portion of the target in cash or opt to extend the contract. Presently, Matrixport’s BNPL supports BTC and ETH as investment targets, with more cryptocurrencies to be supported in the future.

Matrixport is committed to continuously diversifying the crypto financial derivatives offerings in the industry and driving crypto financial innovation. “Installment Warrants”, as a mature traditional financial investment tool, are not only the most popular type of warrant on the Australian Securities Exchange (ASX) but also a leveraged instrument used in Australian Self-Managed Superannuation Funds (SMSFs). Matrixport’s BNPL innovates on these mature traditional financial products, closely catering to user needs. With the BNPL product, users can leverage small amounts of capital for large returns, fully utilizing the leverage effect without the need for additional margin, significantly enhancing capital utilization without taking on excessive liquidation risks.

John Ge, Matrixport CEO stated, “Crypto innovation is the bedrock of Matrixport’s long-term development. From the launch of the Dual Currency product to the introduction of BNPL, we have always been committed to providing users with user-friendly and easy-to-use crypto investment products, helping users capture more rational returns amid market volatility. As the crypto industry remains in its early stages, Matrixport will continue to promote the integration of traditional finance and crypto finance, lower the barrier for traditional capital to enter crypto finance, and drive the mainstream adoption of crypto finance.”

Recently, Matrixport has been accelerating its global expansion, acquiring a licensed Swiss crypto asset management company (formerly CFAM) to foray into the pan-European-compliant crypto asset management market. It has also initiated a brand upgrade, launching a Chinese brand name and slogan to enhance differentiated local operations worldwide. In addition, the structured product sector has also been continuously advancing, with the upgraded Shark Fin, Smart Trend, Seagull, and “Buy Now Pay Later” products all being successively launched on the Matrixport App. As Matrixport’s product line continues to be improved and its global-compliant operations develop, Matrixport is moving closer toward its goal of becoming the gateway to crypto finance.

About Matrixport

Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research and more. With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

As a Group and through its local subsidiaries, Matrixport has received the Trust and Company Service Provider (TCSP) / Money Lender Licenses in Hong Kong, and the FINMA Asset Management License in Switzerland. The company operates as an Appointed Representative in the UK, is registered as an MSB in the US, and is a member of Switzerland’s FINMA SRO-VFQ. It was recognized by CB Insights as one of the “50 Most Promising Blockchain Companies” and featured in the Hurun “2024 Global Unicorn List.” Additionally, Matrixport’s subsidiary, Fly Wing, has obtained IPA for the MPI License in Singapore.

Matrixport official website: https://www.matrixport.com

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/matrixport-launches-exclusive-structured-product-buy-now-pay-later-pioneering-crypto-financial-derivatives-development-302293082.html

SOURCE Matrixport

Continue Reading

Technology

HKBN Appoints Dr Gabriel Leung as Chief Executive Officer – Enterprise Solutions

Published

on

By

HONG KONG, Nov. 1, 2024 /PRNewswire/ — HKBN Group (“HKBN” or the “Group”; SEHK stock code: 1310) is excited to announce the appointment of Dr Gabriel Shing-Koon Leung as Chief Executive Officer – Enterprise Solutions. Dr Leung will lead the Group’s Enterprise Solutions strategy, enhancing its competitive advantage to accelerate business development in Hong Kong and mainland China. This appointment will further reinforce the Group’s position as a leading telecom and ICT Powerhouse in the region.

Dr Leung boasts over 30 years of leadership experience within the ICT sector. As Vice Chairman of the Communications Association of Hong Kong, he has extensive management experience and insights in providing high-quality telecommunications infrastructure and high-performance network services, earning recognition among industry peers for his expertise. He previously served as Managing Director, Hong Kong and Macau at Hewlett Packard Enterprise, where he dedicated himself to advancing the local ICT landscape and nurturing tech talent.

Dr Leung holds a Bachelor of Science degree in Electronic and Electrical Engineering from the University of Birmingham, UK, and a Doctor of Business Administration degree from The Hong Kong Polytechnic University. He is also a Fellow of the Hong Kong Computer Society. Dr Leung is actively involved in industry and community service, playing a vital role as a member of the Research Project Assessment Panel for the Innovation and Technology Fund of the Hong Kong SAR Government. Additionally, he serves as Vice President and Council Member of the Hong Kong Computer Society, and Vice Chairman of the Communications Association of Hong Kong. 

Under Dr Leung’s leadership, HKBN will leverage cutting-edge digital solutions and the latest advancements in system integration to help enterprise customer become smarter and more efficient, empowering companies throughout Hong Kong and mainland China to reach new heights of competitiveness in an ever-evolving market environment. 

Dr Denis Yip, HKBN President and Group Chief Operating Officer, stated, “Gabriel’s professional background and innovative mindset will inject new vitality into HKBN’s development. His deep understanding of digital technology trends will help us effectively navigate future opportunities and challenges, while his exceptional leadership will play a crucial role in enhancing our operational efficiency and market expansion.”

Expressing his excitement, Dr Leung remarked, “I am thrilled to be a part of HKBN and work alongside our talented team in this dynamic market. Drawing on my experiences in technology innovation, my goal is to support businesses across Hong Kong and the wider region in accelerating digital transformation, achieving competitive edges, creating value for HKBN, driving growth, and steering our business towards unprecedented success.”

To learn more about Dr Leung, please visit https://www.hkbn.net/group/en/our-story/management-committee.

About HKBN Group

Headquartered in Hong Kong with operations spanning across Hong Kong, Macau and mainland China, HKBN Group (“the Group” or “HKBN”) is a leading integrated telecommunications and technology services provider. The Group’s extensive tri-carrier fibre infrastructure covers nearly 2.6 million residential homes and 8,200 commercial buildings and facilities across Hong Kong, offering comprehensive one-stop Information and Communications Technology (“ICT”) solutions and Infinite-play bundles to both individual and enterprise customers. Committed to creating a lasting positive impact to wherever it operates, HKBN embraces a core purpose to “Make our Home a Better Place to Live” and has received a highest possible rating of AAA in MSCI’s 2024 ESG Ratings assessment in environment, society and governance. The Group is managed by hundreds of Co-Owners (supervisory and management level Talents in the Group) who invested their savings to buy shares of HKBN Ltd. (SEHK stock code: 1310). For more information about HKBN, please visit https://www.hkbn.net/group/.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/hkbn-appoints-dr-gabriel-leung-as-chief-executive-officer–enterprise-solutions-302293599.html

SOURCE HKBN Ltd.

Continue Reading

Trending