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TerraPay receives In-Principle approval for an MPI License from the Monetary Authority of Singapore (MAS)

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SINGAPORE, Aug. 8, 2023 /PRNewswire/ — TerraPay, a leading global payments infrastructure company, has secured an In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant step towards being a payments company with the most regulatory approvals.

With this coveted approval from MAS, a key financial services regulator, TerraPay’s customers and leading global enterprises will be able to access its expansive network, across 120 receive countries and 208 send countries while enabling fully compliant, affordable, and seamless cross-border money movement. TerraPay, with regulatory approvals in 28 countries, facilitates fully compliant international money transfers, frictionless business pay-outs, and alternative payment methods.

Singapore has always been a strategic region for TerraPay as it derives almost 50% of its revenues from Asia. With Singapore’s position as a gateway to high-growth markets of Southeast Asia, TerraPay will capitalize on this license to tap into the immense potential of the region and bolster its existing local presence and partnerships across Singapore, South Korea, Vietnam and Philippines.

On securing the approval, Ambar Sur, Founder and CEO, TerraPay said “I am incredibly proud of the comprehensive network of partners, employees, countries, and licenses we have established worldwide, enabling us to offer simplified payment services for everyone. Obtaining the approval in Singapore is a game-changer, solidifying our position as a leading cross-border payments powerhouse in one of the most significant financial markets globally.

At TerraPay, our core values revolve around inclusion and innovation. We are inspired by Singapore’s fintech journey, which aligns perfectly with our mission to improve lives and contribute to a dynamic, inclusive economy. The approval from MAS reinforces our commitment to excellence as we aim to become the most regulatory-approved payments company in the world.” 

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Backed by Prime, IFC, Partech Africa & Visa, TerraPay is enabling secure real-time global payment corridors across Asia, Africa, Europe, the Middle East, and the USA, and expanding rapidly in Latin America. In May 2023, TerraPay announced its Series B equity financing round, where it successfully raised more than $100 million for global expansion plans, enabling the company to strengthen its existing pay-out network, and expand its regulatory and compliance capabilities and infrastructure globally. 

About TerraPay

Headquartered in the United Kingdom, TerraPay believes that the smallest payment deserves a borderless journey as safe as the largest. The group has been building an ever-expanding payments highway that empowers businesses to create transparent customer experiences with an uninterrupted, secure, and real-time global passage for every payment, however small or large. Registered and regulated across 28 global markets, TerraPay is one of the leading global partners to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating a more expansive and inclusive international financial ecosystem. With its vast network of 7.5Bn+ bank accounts, 2.1Bn+ mobile wallets, across 120 receive countries and 208 send countries, TerraPay enables its partners to drive global financial inclusion at scale.

Logo: https://mma.prnewswire.com/media/1222771/TerraPay_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/terrapay-receives-in-principle-approval-for-an-mpi-license-from-the-monetary-authority-of-singapore-mas-301894604.html

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Blockchain Press Releases

HTX Appoints Singapore National Goalkeeper Hassan Sunny as Chief Safeguarding Officer

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SINGAPORE, June 15, 2024 /PRNewswire/ — HTX, a leading cryptocurrency exchange, proudly announces the appointment of Singapore national football team goalkeeper Hassan Sunny as Chief Safeguarding Officer.

“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, Member of the HTX Global Advisory Board. “Together, we will work to ensure the safety and security of user assets in the ever-evolving crypto world. Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible.”

Sunny also expressed his excitement about joining the HTX family, stating “I am excited to be part of HTX. I can’t wait to embark on this journey with the team.”

Sunny has been called a national hero in China for his outstanding performance in the final group match of the first round of the 2026 FIFA World Cup Asian Qualifiers against Thailand on June 11th. Despite facing relentless attacks, Sunny made an incredible 11 saves, including a crucial one in stoppage time. Singapore ultimately lost the match 1-3, but their result helped China qualify for the next round at the expense of Thailand.

About HTX:

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Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – “global development, technology drives development, and technology for good” underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.

 

View original content:https://www.prnewswire.co.uk/news-releases/htx-appoints-singapore-national-goalkeeper-hassan-sunny-as-chief-safeguarding-officer-302173558.html

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New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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