Connect with us

News

Velo Labs, Lightnet Group and Visa to Develop Payment Solutions in Asia

gbafNews28

SINGAPORE – Media OutReach – 30 November 2020 – Velo Labs Technology Ltd. (Velo Labs) has announced a collaboration with Lightnet Pte. Ltd. (Lightnet Group) and Visa Worldwide Pte. Limited (Visa) to jointly develop payment solutions in Asia.

[View Image]

 

  • Velo Labs, Lightnet Group and Visa to collaborate on payment solutions in Asia
  • VELO tokens to serve as the digital asset collateralizing financial solutions

 

With a Memorandum of Understanding (MoU) in effect between the parties, Velo Labs, Lightnet Group and Visa will collaborate on payment solutions aimed at addressing the under-served micro, small and medium enterprise (MSME) lending market in Asia. The International Finance Corporation estimates that, globally, USD 5.2 trillion in MSME lending goes unserved annually, with more than half of this financing gap existing in the Asia-Pacific (APAC) region.

“Being new-to-credit or lacking creditworthiness is often an obstacle to achieving one’s financial goals, such as securing loans to start a business or even buying a car,” said Tridbodi Arunanondchai, Vice Chairman and Group CEO of Lightnet Group. “We are delighted to be a part of this unique cooperation along with trusted partners like Velo Labs and Visa. We are providing customers from the MSME market with another pathway to build credit and improve financial wellness.”

Velo Labs, Lightnet Group and Visa’s partnership extends the reach of all three firms by allowing near real-time global transactions between participating banks, money transfer operators and other financial service providers. This initiative aims to enable users with poor or inexistent credit histories to receive a line of credit by depositing digital assets as collateral. This approach is ideally suited to connect over one billion unbanked and underbanked individuals in APAC to the global financial system. VELO tokens will serve as the digital asset collateralizing financial solutions.

“This agreement is a testament to Velo Labs’ and its partners’ continuous efforts to achieve financial inclusion for millions in the under-served MSME lending market. It also illustrates VELO’s capacity as a bridge asset enabling greater financial inclusion,” says Chatchaval Jiaravanon, Chairman of Velo Labs.

About Velo Labs

Velo Labs’ mission is to build a Federated Credit Exchange Network, powered by the Velo Protocol. The Velo Protocol is a financial protocol that issues digital credits pegged to any fiat currency, and ensures that these digital credits are always collateralized by the right amount of VELO tokens to maintain a 1:1 digital credit to fiat currency value ratio. Backed by Stellar Network and CP Group, Velo Labs is currently serving business partners in Southeast Asia. By connecting the legacy finance, CeFi and DeFi industries, Velo Labs’ Federated Credit Exchange Network positions Velo Labs as one of few blockchain projects with a clear path towards mass adoption.

www.velo.org

About Lightnet Group

Lightnet Pte. Ltd. is a Singapore-headquartered fintech company with the purpose of empowering underbanked populations and MSME trade finance with an inclusive international remittance ecosystem. The Lightnet Group adopts the Velo Protocol as its blockchain protocol and positions itself as the next generation clearing and settlement network across the Asia Pacific region by leveraging blockchain and connecting existing financial systems with its network of cash agents and wallets. The Lightnet Group’s initial focus will be on Southeast Asia remittances which it estimates to be in excess of USD 150 billion per annum.

www.lightnet.io

News

Dream Impact Trust Announces January 2021 Monthly Distribution

gbafNews28

DREAM IMPACT TRUST (TSX: MPCT.UN) (Dream MPCT or the Trust) today announced its January 2021 monthly distribution in the amount of 3.333 cents per Unit (40 cents annualized). The January distribution will be payable on February 12, 2021 to unitholders of record as at January 29, 2021.

Dream Impact Trust is a real estate impact investing vehicle that targets projects that create positive and lasting impacts on communities and the environment, while achieving market returns. Dream Impact Trust provides investors with access to an exceptional portfolio of real estate development and income properties that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of the Trust are to provide investors with a portfolio of high-quality real estate development opportunities that generate both strong financial returns and provide positive social and environmental impacts in our communities; balance growth and stability of the portfolio, increasing cash flow, unitholders’ equity and NAV over time; provide predictable cash distributions to unitholders on a tax-efficient basis; and leverage access to an experienced management team and strong partnerships to generate investment opportunities, capitalize on strong market fundamentals and generate attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

DREAM IMPACT TRUST

Meaghan Peloso

Chief Financial Officer

(416) 365-6322

[email protected]

Kimberly Lefever

Director, Investor Relations

(416) 365-6339

[email protected]

Continue Reading

News

Dream Office REIT January 2021 Monthly Distribution

gbafNews28

DREAM OFFICE REIT (TSX: D.UN) (Dream Office or the Trust) today announced its January 2021 monthly distribution of 8.333 cents per REIT Unit, Series A ($1.00 annualized). The January distribution will be payable on February 12, 2021 to unitholders of record as at January 29, 2021.

Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT owns well-located, high-quality office properties, primarily in downtown Toronto. For more information, please visit our website at www.dreamofficereit.ca.

Michael J. Cooper

Chairman and Chief Executive Officer

(416) 365-5145

[email protected]

Jay Jiang

Chief Financial Officer

(416) 365-6638

[email protected]

Continue Reading

News

Trading Technologies Names New Chairman and CEO

gbafNews28

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, today announced effective immediately, Tim Geannopulos has been named Chairman and CEO of TT.

Geannopulos comes back to TT bringing decades of financial technology experience to the company. In addition to consulting in the fintech space, he was a co-founder and president of Neurensic and previously executive vice president, global head of sales at TT.

“Tim will be instrumental in managing the key partner transactions we anticipate this year and will guide our strong team through the next chapter of growth and expansion,” said Harris Brumfield, majority shareholder of Trading Technologies.

While Rick Lane will ultimately be leaving TT to pursue a new opportunity, he will remain to facilitate client migrations to the TT platform and to communicate TTs technology vision to strategic partners. “Rick has been a tremendous leader and a visionary who has allowed TT to redefine institutional trading and market access technology in our industry,” added Brumfield. “We wish him the best success in his future endeavors.”

About Trading Technologies

Trading Technologies (www.tradingtechnologies.com, @Trading_Tech) creates professional trading software, infrastructure and data solutions for a wide variety of users, including proprietary traders, brokers, money managers, CTAs, hedge funds, commercial hedgers and risk managers. In addition to providing access to the worlds major international exchanges and liquidity venues via its TT trading platform, TT offers domain-specific technology for cryptocurrency trading and machine-learning tools for trade surveillance.

Lorna Kiewert

3Points Communications

(312) 725-7950, Ext. 1

[email protected]

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call for Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Posts

gbafNews28 gbafNews28
News45 mins ago

Dream Office REIT January 2021 Monthly Distribution

DREAM OFFICE REIT (TSX: D.UN) (Dream Office or the Trust) today announced its January 2021 monthly distribution of 8.333 cents...

gbafNews28 gbafNews28
News45 mins ago

Dream Impact Trust Announces January 2021 Monthly Distribution

DREAM IMPACT TRUST (TSX: MPCT.UN) (Dream MPCT or the Trust) today announced its January 2021 monthly distribution in the amount...

gbafNews28 gbafNews28
News50 mins ago

SMG and SafetyCulture Partner to Help Brands Ensure Business Operations Are Built to Exceed Customer Expectations

Service Management Group (SMG), a global customer, patient and employee experience management partner to more than 500 brands, has announced...

gbafNews28 gbafNews28
News50 mins ago

Trading Technologies Names New Chairman and CEO

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, today announced effective...

gbafNews28 gbafNews28
News56 mins ago

Oshkosh Corporation to Webcast February 2, 2021 Virtual Shareholders’ Meeting

Oshkosh Corporation (NYSE: OSK), a leading innovator of mission-critical vehicles and essential equipment, will hold its 2021 annual shareholders meeting...

gbafNews28 gbafNews28
News1 hour ago

Global Sanitizer Market 2020-2024: Market Analysis, Drivers, Restraints, Opportunities, and Threats – Technavio

The sanitizer market is expected to grow by USD 12.59 billion, decelerating at a CAGR of almost 55% during the...

gbafNews28 gbafNews28
News1 hour ago

Global Online Survey Software Market to Grow by $ 2.64 Billion During 2020-2024 | Growing Demand from SMBs to Boost Growth | Technavio

The global online survey software market is expected to grow at a CAGR of about 9% during 2020-2024, according to...

gbafNews28 gbafNews28
News1 hour ago

MillionaireMatch Pushes Back Against False Claims That It Is for “Sugar Daddies”

MillionaireMatch, a popular, serious dating site for millionaires, elite singles and attractive singles seeking long-term relationships and marriage, today announced...

gbafNews28 gbafNews28
News1 hour ago

Duravant Launches nVenia, a Duravant Operating Company

Duravant LLC (Duravant), a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors,...

gbafNews28 gbafNews28
News1 hour ago

Hanszen Laporte Appoints Matthew Hansel as Junior Partner

Hanszen Laporte is pleased to announce today the appointment of Matthew Hansel to the role of Junior Partner. In his...