Blockchain Press Releases
KPMG and Volante Technologies deliver ISO 20022 maturity model to drive industry guidance in a data-driven world
Maturity model benchmarks ISO 20022 readiness and includes detailed custom guidance in response to industry expectation that 90% of transaction volumes will be ISO 20022-based in the next four years
NEW YORK, July 13, 2023 /PRNewswire/ — Volante Technologies, the global leader in cloud payments modernization has deepened its existing partnership with KPMG LLP by developing a new ISO 20022 maturity model to help payment service providers determine ISO adoption readiness.
Within the next four years, it is expected that ISO 20022 will comprise 90% of transaction volumes worldwide and 80% of high-value payments by volume1. As the payments language of the future, the messaging standard promises to solve long-standing cross-network interoperability issues that have caused delays and inefficiencies in the processing of domestic and international payments. To take advantage of ISO 20022 however, banks and financial institutions must migrate their systems and processes.
In 2022, KPMG and Volante announced their alliance, offering institutions thorough ISO 20022 and real-time payments diagnostics. This jointly created maturity model strengthens this alliance, delivering a survey that determines bank readiness to process ISO 20022-based messages and meet the industry mandate.
After completing the survey, participants receive a personalized report identifying where they sit in the ISO adoption journey. The report includes custom guidance on how to reach the next level of maturity and provides the option for individual consultation with Volante and KPMG to review the insights gathered from the survey.
Courtney Trimble, Principal and Global Head of Payments, KPMG, commented, “ISO 20022 is a watershed moment and represents the biggest overarching change that we have seen in payments. Organizational-wide impact will be felt across a financial institution’s payments ecosystem which must be addressed to move to the new standard before the industry mandate. With the Volante and KPMG Maturity Model, firms can assess the readiness of their payments ecosystem against the new ISO 20022 standard, including their payments platforms, interfacing system, and integration layers. We are delighted to build on our alliance with Volante to provide services that assist banks with their ISO 20022 journey.”
Jim Chow, VP Partnerships & Business Development, Volante Technologies added, “Together with KPMG, Volante is offering ISO 20022 benchmarking and custom guidance, enabling banks to deal with this seismic change affecting every area of the payments ecosystem. Up to 30-40% of additional contextual data will move with transactions as a part of the new messaging standard, translating into monetization opportunities for banks. This maturity model helps financial institutions as they seek to adopt the new format and make the most of the additional data in the ISO 20022 message structure.”
To assess your organization’s preparations for ISO 20022 adoption, access the KPMG Volante ISO maturity model.
1Source: SWIFT, “ISO 20022: Better Data Means Better Payments” (September 2019)
Volante Technologies is the trusted cloud payments modernization partner to financial businesses worldwide, giving them the freedom to evolve and innovate at record speed. Volante’s Payments as a Service and underlying low-code platform process millions of mission-critical transactions and trillions in value daily, so customers can focus on growing their business, not managing their technology. Real-time ready, API enabled, and ISO 20022 fluent, Volante’s solutions power four of the top five global corporate banks, two of the world’s largest card networks, and 66% of U.S. commercial deposits. Learn more at www.volantetech.com and linkedin.com/company/volante-technologies.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing Audit, Tax and Advisory services. The KPMG global organization operates in 143 countries and territories and has more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more detail about our structure, please visit https://kpmg.com
CONTACTS: On behalf of Volante Technologies: EMEA: Holly Finn or Damien Fletcher, Streets Consulting, Tel: +44 (0)20 8187 8324, [email protected], [email protected]; Americas: Tinne Teugels, RISE, Tel. +1 (866) 797-8701, [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/kpmg-and-volante-technologies-deliver-iso-20022-maturity-model-to-drive-industry-guidance-in-a-data-driven-world-301874293.html
Blockchain Press Releases
Purchasers of Quantstamp QSP Tokens May Be Eligible for Payment from the Quantstamp Fair Fund
COSTA MESA, Calif., Jan. 22, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., the SEC-appointed Fund Administrator.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Quantstamp, Inc.
Administrative Proceeding File No. 3-21535
This Notice is Pursuant to a Distribution Plan approved by the United States Securities and
Exchange Commission in the captioned matter.
If you purchased or acquired Quantstamp QSP tokens from October 1, 2017, through July 20, 2023, inclusive, you may be eligible for a distribution from the Fair Fund created in the Securities and Exchange Commission (“SEC”) administrative proceeding captioned above (the “Fair Fund”).
The Fair Fund is being distributed pursuant to a Distribution Plan (the “Plan”) approved by the SEC. The Plan provides for the distribution of the Fair Fund to compensate investors based on their losses, due to the misconduct of Quantstamp, Inc. described in the SEC’s administrative proceeding, on the purchase of QSP tokens from October 1, 2017 through July 20, 2023. You can view and download a copy of the SEC’s order and the Plan on the Important Documents tab on the website for this matter: www.QuantstampFairFund.com/documents.
To be considered for eligibility for a Distribution Payment from the Fair Fund, you must timely submit a completed Claim Form online or via mail. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time (“EST”) on April 10, 2025. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, received) by April 10, 2025.
You may complete the Claim Form online here: www.QuantstampFairFund.com/form/claim. Alternatively, you may download a paper copy from of the Claim Form on the Important Documents page www.QuantstampFairFund.com/documents, or request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-215-6101, for submission by mail to the address set forth on the Claim Form.
ADDITIONAL INFORMATION
Additional information regarding the Fair Fund, including copies of the Plan, the Plan Notice, the Claim Form, and other relevant documents may be found at www.QuantstampFairFund.com. You may request copies or seek additional information by contacting the Fund Administrator.
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Quantstamp Fair Fund |
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain Press Releases
HTX Ventures: RWAFi and Stablecoin Payments Set to Dominate the Evolving DeFi Landscape
SINGAPORE, Jan. 22, 2025 /PRNewswire/ — The DeFi landscape has undergone a dramatic transformation since the “DeFi Summer” of 2020. With Donald Trump assuming office as the President of the United States, a new era of growth for DeFi is emerging, characterized by deeper integration with traditional finance.
HTX Ventures, the global investment division of HTX, has released a forward-looking report titled “A New Era for DeFi with Crypto Compliance and New Opportunities in RWA-Fi and Stablecoin Payments.“ This report analyzes the evolving environment of crypto trading in 2025, focusing on the significant opportunities and challenges RWAFi and stablecoin payments are facing.
Changes in the Crypto Trading Environment Favor Stablecoins and RWAs Prospects
The gradual easing of crypto regulatory policies is facilitating greater institutional investor participation within the crypto ecosystem. This shift has seen stablecoins and RWAs (Real-World Assets) emerge as crucial bridges connecting the traditional finance and decentralized finance worlds.
Data shows a remarkable surge in stablecoins usage in blockchain transactions, which has risen from 3% in 2020 to over 50% by the end of 2024. The core value proposition of stablecoins lies in their ability to facilitate seamless cross-border payments, making them strategically important in international trade.
The report underscores the immense potential of stablecoins, stating, “At present, the global cross-border B2B payments market processed through traditional channels is valued at approximately $40 trillion, while the consumer remittance market generates hundreds of billions of dollars in annual revenue. Stablecoins offer a new alternative for efficient cross-border payments via crypto channels. As the adoption gains momentum, stablecoins are set to penetrate and disrupt this market segment, becoming a key player in the global payments landscape.”
Furthermore, the U.S. House Financial Services Committee is actively preparing to introduce a stablecoin bill, which has the potential to be the first comprehensive crypto legislation passed by Congress. This legislation could drive widespread adoption of crypto wallets, stablecoins, and blockchain-based payment channels among traditional banks, enterprises, and individuals. Notably, several prominent traditional financial giants, including PayPal and Stripe, have already initiated active exploration within the stablecoin sector.
The RWA market saw positive growth during the recent bear market cycle, primarily driven by its stable returns. Unlike cryptocurrencies, the value of RWAs remains largely unaffected by the inherent volatility of the crypto market, a crucial characteristic for building a robust DeFi ecosystem. Industry leaders like Binance project that the RWA market could expand to $16 trillion by 2030. This immense market potential has driven companies like BlackRock and Tether to explore tokenized assets, leading to the emergence of compliance tools for RWA token issuance, such as Securitize.
Opportunities and Challenges for DeFi Projects
As stablecoins and RWAFi emerge as the cornerstones of the evolving DeFi landscape, project teams are tasked with developing innovative products tailored to the new environment and demands. While challenges are inevitable, these transformative shifts also unlock numerous opportunities.
In terms of realizing the vision of yield-generating stablecoins, the report identifies two prevailing market trends:
- Treasury-backed Stablecoins:
This approach involves utilizing the U.S. Treasury bonds as the underlying assets for stablecoins, effectively introducing traditional financial assets onto the blockchain through tokenization. This methodology preserves the stability and low-risk nature of Treasury bonds while seamlessly integrating the high liquidity and composability inherent to DeFi. Examples include USDY by Ondo Finance and a range of Treasury-backed Vault products from OpenTrade.
- Volatility-driven Yield:
The alternative approach leverages crypto market volatility and MEV to generate low-risk returns. Ethena, along with its native stablecoin USDe, serve as a prime example of this strategy.
Seamlessly integrating DeFi applications with RWAs presents another critical challenge for project teams. On one hand, the inherent stability of RWAs can effectively mitigate risk in DeFi applications. Collateralized Debt Position (CDP) stablecoins, such as Curve’s crvUSD, are increasingly incorporating RWAs as collateral to enhance their stability. On the other hand, the flexibility of DeFi can significantly boost the utilization rate of tokenized RWAs. Pendle’s newly introduced RWA section, boasting a current TVL of $150 million, exemplifies this synergy. Leveraging the composability of DeFi Lego, Pendle’s diverse yield-generating assets can offer highly attractive APYs, incentivizing users to invest in RWA stablecoins.
Emerging DeFi projects still possess significant untapped potential within niche sectors, such as addressing defaults scenarios within the private credit market within RWA domain and effectively leveraging RWA public chains to empower institutional finance. Looking ahead, the report suggests that on-chain forex, cross-border payment stacks, and multi-pool stablecoin aggregation platforms are among the promising development directions in the “New DeFi” era.
About HTX Ventures
HTX Ventures is the global investment arm of HTX, integrating investment, incubation, and research to identify and discover the best and most innovative projects in the market. Visit us here.
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View original content:https://www.prnewswire.co.uk/news-releases/htx-ventures-rwafi-and-stablecoin-payments-set-to-dominate-the-evolving-defi-landscape-302357287.html
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