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Blockchain Press Releases

SourceCode™ Expands Global AI Presence with Acquisition of Boston Limited

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SourceCode a Cerberus Company also Announces New Board Appointments for the New Era of Co-Designed AI-Enabled Infrastructure

NORWOOD, Mass., June 26, 2023 /PRNewswire/ — SourceCode, a pioneer of co-designed, custom, certified IT systems for next generation AI infrastructure spanning the cloud, datacenter and edge, today announced that it has agreed to acquire UK-EU-based Boston Limited, a leading provider of high-performance server and storage solutions for the significant growth in business around data, media, and AI as well as traditional IT workloads. SourceCode is a portfolio company of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. The transaction is expected to close on June 30, 2023. 

With a combined presence across four continents, the synergistic addition of Boston Limited will create a global powerhouse able to serve local and global customers with a rich set of device-to-datacenter-to-cloud offerings.

Arthur Ataie, SourceCode CEO, said: “As the world moves towards intelligent infrastructure, the modern enterprise with its burgeoning specialized workloads demands a new approach to IT solutions. The addition of Boston Limited, further enables us to address the industry’s need for a new class of technology partner, one that delivers customer-first, engineering-led, best-in-class solutions — from intelligent edge devices to data centers and the cloud.”

With an increase in size, scope, and strength, SourceCode is also strengthening its collaboration with its long-term trusted partners in the semiconductor, original device manufacturers (ODM), and software industries. This will allow SourceCode to better serve the needs of its clients—with a broader product portfolio, stronger supply chain, and worldwide reach.

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“I am very happy to see two of our oldest friends join hands to make a bigger group that can leverage the systems we design and manufacture at Supermicro. Our facilities are well known to both SourceCode and Boston and I feel this is a strong move that will provide benefits to all of us and the industry,” commented Charles Liang, Founder and CEO of Super Micro Computer Inc.

Boston Limited original founders, Manoj Nayee and Dev Tyagi, will continue in the combined company.

“It seems like a homecoming!” said Manoj Nayee, Managing Director and co-founder of Boston Limited. “Boston and SourceCode were both founded in 1992 and share a proud heritage, a customer-first culture, and excellent reputation with leading organizations across four continents. As we serve more global customers with a richer set of customized solutions, the time is right to join forces with SourceCode. We are entering this next phase with a clear strategy, unrelenting support, and long-term commitment to work towards accelerated growth with the executive teams at SourceCode and Cerberus Capital Management.”

SourceCode will accelerate its already substantial focus on delivering co-designed and customized computing solutions for emerging needs such as generative artificial intelligence, intelligent edge compute, and high-performance computing, offering solutions for edge devices to datacenter and large-scale systems.

Michael Sanford, Global Head of Private Equity at Cerberus, added: “SourceCode is a key player in enabling critically important technology infrastructures, which is an area of focus for Cerberus. This combination creates a global leader serving partners across industry verticals and governmental organizations.” Cerberus acquired SourceCode in 2021.

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New Board Members

SourceCode also announced the appointment of two industry luminaries to its Board of Directors: Alain Andreolli, former president, and EVP of the Hybrid IT Group at HPE, and Peter Ungaro, former CEO of supercomputer leader Cray and subsequently SVP/GM of HPC & MCS at HPE.

Shaygan Kheradpir, Chairman of the SourceCode Board and Technology-Telecom team lead at Cerberus, commented: “Our advanced technology investments drive a clear vision towards a new era in global competitiveness and supply chains, with highly customized AI applications for enterprises and individuals that deliver immersive experiences via industrial strength 5G networks. In addition to this acquisition, I am delighted to welcome globally recognized industry leaders Alain and Peter to our Board. These appointments, alongside our combination with the talented team at Boston Limited, position SourceCode exceptionally well for the future.”

Alain F. Andreoli is a global CEO, board member, investor, and geopolitical visionary at Earth our Country, which he founded in 2019. He spent nearly eight years at HPE, most recently as President/EVP of the Hybrid IT Group, a $16 billion P&L core business of HPE including hybrid cloud, compute, storage, networking, HPC, and software. He was Chairman and CEO at Hubwoo, a public Euronext company, and President of European Operations at Sun Microsystems. Mr. Andreoli was also President and CEO at X-IO Technologies, and President and COO at NTT Japan/Verio.

Peter Ungaro is a globally recognized technology executive, among the “40 under 40” by Corporate Leader Magazine in 2008, and CEO of the Year in 2006 by Seattle Business Monthly. He was most recently SVP/GM of HPC & MCS at HPE, a key area of growth for the company. Previously, he was President and CEO for Cray. Prior to joining Cray in 2003, Mr. Ungaro served as Vice President of Worldwide Deep Computing Sales for IBM, where he led global sales of all IBM server and storage products for high performance computing, life sciences, digital media, and business intelligence markets.

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About SourceCode

Founded in 1992, SourceCode is a global provider of co-designed, custom, certified IT systems for next generation intelligent infrastructure. The company’s edge devices, desktop, servers, storage, clusters, and reference architectures are available via its industry-leading ecommerce platform as well as its customer-centered engineering-led engagement model. Learn more at www.SourceCode.com.

About Boston Limited

Boston Limited has been synonymous with servers, storage, and solutions for 30 years, establishing itself as the early adopter of a wide variety of global technology partners and a leading global provider of tomorrow’s technology today. With offices in the UK, France, Germany, USA, South Africa, and Australia, Boston provides consulting and training services in Machine Learning, AI, Security, and Storage, across several different industries. Visit: www.boston.co.uk

About Cerberus

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Founded in 1992, Cerberus is a global leader in alternative investing with approximately $60 billion in assets under management across complementary credit, private equity, and real estate strategies. We invest across the capital structure where we believe our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.

CONTACT:
Cindee Mock
[email protected] 

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Blockchain Press Releases

KuCoin Introduces Omnibus Account Structure to Enhance Liquidity for Brokerage Partners

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VICTORIA, Seychelles, July 19, 2024 /PRNewswire/ — July 23, 2024 – KuCoin, a leading cryptocurrency exchange, is pleased to announce a significant enhancement to its Broker Program, designed to cater to liquidity-seeking partners. This upgraded program enables participants to leverage KuCoin’s superior liquidity and diverse asset offerings across both Spot and Futures markets. With this enhancement, participants can now benefit from KuCoin’s top-tier liquidity, high-revenue shares, unlimited sub-accounts, and independent deposit addresses, allowing for functional flexibility and maintaining their own client management powers.

“Our new brokerage infrastructure is suitable for multiple types of institutional partners, such as crypto exchanges, execution terminals, layer 2 aggregators, OTCs, and traditional financial service providers venturing into crypto,” said Anton Starchenko, Director of Institution Business Development of KuCoin. 

“This upgrade demonstrates our commitment to providing our partners with the tools they need to succeed in the rapidly evolving crypto market.”

By joining the KuCoin brokerage service, brokers gain access to one main broker account with unlimited sub-accounts. Each sub-account features an exclusive deposit address, serving as a wallet to separate funds and trades. Additionally, each sub-account undergoes independent risk checks. These ongoing risk and compliance measures bolster KuCoin’s commitment to protecting partner interests. Broker accounts are subject to separate fee structures, while the broker receives a combined commission based on the cumulative volume across all accounts.

As a leading platform in the cryptocurrency industry, KuCoin is dedicated to providing top-notch security and reliability. The platform employs state-of-the-art security measures, including advanced encryption protocols, multi-factor authentication, and real-time monitoring systems to ensure the safety of users’ assets. KuCoin’s unwavering focus on security and innovation has solidified its reputation as a trusted and forward-thinking exchange in the global crypto market.

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For more information about the KuCoin Broker Program and the new omnibus account structure, please visit KuCoin’s official website.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/ .

Contact Us to Join

Telegram: @KuCoin_Broker

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Email: [email protected]

Book a Product Call here.

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Blockchain Press Releases

Bybit Launches Block Merchant Program, Offering Up to 3,000 USDT in Rewards

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DUBAI, UAE, July 19, 2024 /PRNewswire/ — Bybit, the world’s second-largest web3 platform by trading volume, announced the launch of its Block Merchant program, designed to empower users to maximize their earnings while buying or selling cryptocurrencies. Through this exciting initiative, Bybit aims to recognize and reward the valuable contributions of its P2P users.

By becoming a Bybit Block Merchant, users can unlock a range of exclusive benefits, including:

  • Lucrative USDT Merchant Rewards: Earn substantial rewards for buying or selling crypto.
  • Enhanced Visibility: Enjoy a prominent position on the platform with a special diamond label and higher priority than Bybit Verified Advertisers.
  • Increased Transaction Limits: Process larger transaction volumes with a single order limit raised to 200,000 USDT.
  • Priority Ad Ranking: Achieve top-tier visibility among advertisers under similar conditions.
  • Swift Appeal Resolution: Benefit from expedited customer service support for any issues.

Bybit is committed to providing its users with exceptional trading experiences and opportunities to thrive in the dynamic cryptocurrency market. The Block Merchant program reflects our commitment, offering users a chance to boost their income while contributing to the growth of the Bybit P2P ecosystem.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 33 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Blockchain Press Releases

Hata obtains full approval from the Securities Commission of Malaysia Launches 30% revenue sharing model on its USD crypto exchange

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  • Hata obtains full approval from the Securities Commission of Malaysia and launched its exchange
  • Support USD onramp and offramp
  • Rolled out affiliate programme, sharing 30% of its trading fee with users who refer others to trade on its Exchange
  • Zero trading fee across major pairs and opportunity to earn crypto airdrop

KUALA LUMPUR, Malaysia, July 19, 2024 /PRNewswire/ — Hata has officially secured full approval from the Securities Commission of Malaysia to launch its exchange. Having obtained full approval from the Labuan Financial Services Authority (a mid-shore jurisdiction in Malaysia) in June 2023, Hata is now the first and only dual-licensed exchange by both onshore and mid-shore regulators in Malaysia.

Filling the gap in Asia with USD onramp and offramp 

Hata operates a US Dollar cryptocurrency exchange, allowing users globally to deposit, trade and withdraw funds in US Dollars. Hata users can also swap US Dollars with USDT for free.

With the foreign exchange market in Asia Pacific recorded at $396 trillion annually[1], Hata aims to serve the large US Dollar foreign exchange market by providing traders and institutions a licensed platform to convert US Dollars into stablecoins to facilitate cross border payments and access cryptocurrency in the region.

“Institutions and high net worth individuals still rely heavily on US Dollars to settle cross border transactions in Asia. With institutional adoption into cryptocurrency on the rise, coupled with weakening local currencies in the region against US Dollar, we foresee users moving their monies into USD pegged stablecoins to conduct transactions.” says David Low, Chief Executive Officer of Hata.

Hata currently supports trading of more than 40 cryptocurrency pairs on its platform that are paired with USDT and US Dollar, with the goal of supporting more crypto products in the near future.

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30% Revenue Share on its Exchange

Hata (www.hata.io) has introduced an affiliate program. Any users who sign up on Hata can refer their family and friends to earn a reward. Hata provides a revenue share of 30% from the trading fees it earns to the affiliates who refer their network to trade on Hata’s exchange.

“This affiliate programme is designed to let users globally capitalise on their network to earn rewards. We hope that this provides an economic opportunity for our users to earn a side income with minimal effort,” says Darien Ng, Chief Revenue Officer of Hata.

Zero trading fees and free airdrop

To further incentivise early users, Hata has also rolled out zero fees for its major crypto pairs, including USD/USDT pair.

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Users who sign up from now until 31 October 2024 and trade on the exchange will be added to a waitlist. Users in the waitlist will have an opportunity to earn free airdrops in the near future.

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