Blockchain Press Releases
Paddle introduces Paddle Billing to boost growth for ambitious SaaS companies; exceeds $1 billion in payments processed annually
- New set of billing-focused APIs will enable SaaS businesses to better monetise their products, localise pricing and introduce new subscription models
- Upgrades to the platform come as Paddle passes $1 billion in annual gross merchandise value
LONDON, Aug. 9, 2023 /PRNewswire/ — Paddle, the payments infrastructure provider for SaaS companies, has today announced Paddle Billing, a new set of APIs and features that will help businesses upgrade their billing capabilities and in turn increase revenue and retain more customers.
Announced at the company’s product event Paddle Forward, Paddle Billing marks a major step forward for Paddle’s core Merchant of Record (MoR) offering, introducing new developer-friendly features and tools to help the company’s 4,000 customers scale while delivering a more seamless, flexible experience.
Today’s announcement comes as Paddle celebrates another significant milestone. The company now processes over $1 billion in payments annually, an achievement reached within 11 years of the business being founded in 2012.
The new normal for SaaS
After multiple years of extremely rapid growth, partly driven by the pandemic, the SaaS industry has now entered a new normal.
According to Paddle’s data, SaaS businesses are still growing but churn rates remain 10% higher than last year, driven by enterprise cost cutting, rising interest rates and tighter budgets, making effective retention strategies more important than ever. With software companies also looking to reduce costs and make sure engineering resources are deployed where they can add the most value, they want to be able to make sure their teams are focused on developing new products rather than building and maintaining payments infrastructure and billing stacks.
In this environment, SaaS businesses have to be smarter than ever about how they scale and where they spend.
Futureproof revenue
Paddle Billing addresses these challenges by introducing a range of enhancements and functionality improvements designed to help SaaS companies grow sustainably at a time of rising churn and constrained developer resources.
Through a new set of developer-friendly APIs, Paddle’s customers will be able to integrate the platform into their payments stack more easily than ever, and take advantage of new features including:
- More ways to accept and manage payments with less friction, thanks to new webhooks providing real-time payment updates and a single API that integrates seamlessly with CRM and ERP platforms and accounting software.
- Tailored billing plans for different customer segments, including flexible multi-product subscriptions, complex pricing models, and bespoke discounts.
- Hyperlocalised payments, including the power to set pricing at regional levels and not have one-plan-per-currency. Paddle is the only solution provider on the market to offer this.
As well as reducing costs and increasing efficiency for SaaS businesses, Paddle Billing improves the developer experience by prioritising frictionless integration and total customisation. It also offers Paddle developers the simplest route to hybrid billing, which allows SaaS companies to charge for subscriptions via credit card and invoice, preventing the fragmentation of customer data and enables them to move seamlessly between sales-assisted billing and a self-serve, product led growth (PLG) approach.
Jimmy Fitzgerald, CEO of Paddle, commented:
“In this ‘new normal’ for the SaaS market, growth may have slowed but there is still significant demand and plenty of growth potential for businesses of all sizes. However, the ‘growth at all costs’ era is over and businesses must be strategic about how they capture and retain revenue. Billing and payments should be a fundamental part of any sustainable growth strategy, but it can be extremely complex and resource-intensive for SaaS businesses to build and manage at scale.
Our priority at Paddle has always been to turn payments into a true growth lever for SaaS businesses, which is why we’re enhancing our Merchant of Record offering and making it easier than ever for sellers to integrate into our platform with the launch of Paddle Billing. This is our simplest, most customisable and most developer-friendly offering to date and we’re excited to see the impact it can have for our customers to help them reduce churn and drive growth.”
Christian Owens, Founder and Executive Chairman of Paddle, commented:
“We founded Paddle in 2012 to build a software business for other software businesses. We made it our mission to remove the operational barriers that have historically prevented SaaS companies from scaling efficiently and reaching the largest possible market for their products. The fact we are now processing $1bn in payments annually on behalf of our sellers is a great endorsement of our Merchant of Record model and demonstrates the value that we can deliver for our customers. There is still much more we can do however. The opportunity within SaaS remains vast and the launch of Paddle Billing marks the start of another exciting chapter for Paddle and the next phase of growth for our business.”
Paddle Billing will be available to new and existing Paddle customers. For more information on Paddle Forward, Paddle Billing, and the other platform updates announced during the event, please visit: https://www.paddle.com/forward.
About Paddle
Paddle, the payments infrastructure provider for B2B SaaS companies, powers hyper-scale growth across acquisition, renewals and expansion. With Paddle, companies are finally able to transform their payments infrastructure into a strategic growth lever to respond faster and more precisely to every growth opportunity. Paddle acquired ProfitWell in 2022 which provides industry standard BI solutions that improve your retention and monetization automatically through unmatched subscription intelligence.
Paddle has 300 employees serving over 4,000 software sellers in 245 countries and territories globally. Backed by investors including KKR, FTV Capital, Kindred, Notion, and 83North, Paddle aims to define the next wave of B2B SaaS leaders. Visit www.paddle.com or www.twitter.com/PaddleHQ for more information
Press Contact: Outcast for Paddle: Leon Reason; [email protected]; +44 7773 003366
Logo – https://mma.prnewswire.com/media/2171595/Paddle_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/paddle-introduces-paddle-billing-to-boost-growth-for-ambitious-saas-companies-exceeds-1-billion-in-payments-processed-annually-301895827.html
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act of 2023, a controversial bill he initially co-sponsored with Senator Elizabeth Warren and others. This bill, reintroduced in the Senate on July 27, 2023, aimed to bring the cryptocurrency industry into alignment with existing anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
Key Provisions of the Bill
The legislation proposed stringent regulations on digital asset providers, including unhosted wallet providers, miners, and validators, by classifying them as financial institutions under the Bank Secrecy Act (BSA). It mandated these entities to adhere to BSA compliance requirements, which include extensive reporting and monitoring responsibilities. Additionally, the bill called for the Financial Crimes Enforcement Network (FinCEN) to establish regulations for reporting significant foreign digital asset holdings and to create compliance measures to address risks associated with anonymity-enhancing technologies.
Senator Marshall’s Shift
Marshall’s withdrawal from the bill comes as a surprise, particularly given his earlier criticisms of cryptocurrencies, which he has described as a “threat to national security.” This includes concerns over stablecoins like Tether potentially facilitating illegal activities and circumventing U.S. sanctions. Despite his earlier stance, Marshall’s departure from the legislation suggests a reconsideration of the bill’s implications or an alignment with broader political and industry perspectives on cryptocurrency regulation. His office has not provided a comment on the reasons for his withdrawal.
Political and Industry Reactions
The bill had garnered significant bipartisan support, with 18 co-sponsors, reflecting a broader concern in Congress over regulating the rapidly growing cryptocurrency market. However, it has also faced criticism for potentially imposing impractical compliance burdens that could stifle innovation and push crypto activities offshore. Critics argue that the bill’s stringent requirements could inadvertently drive users toward unregulated platforms, thereby undermining its intent to enhance security and regulatory oversight.
Broader Context
The withdrawal comes at a time when cryptocurrency regulation is a highly contentious issue in U.S. politics. Former President Donald Trump has promised to relax crypto regulations if elected, contrasting with the current administration’s more stringent stance. Under President Joe Biden, the Securities and Exchange Commission (SEC) and other regulatory bodies, led by figures like Gary Gensler, have taken a more rigorous approach to regulating the sector, which has drawn criticism for being overly restrictive.
Senator Marshall’s decision to step back from the Digital Asset Anti-Money Laundering Act reflects the complex and evolving nature of cryptocurrency regulation in the U.S. While the bill seeks to bring greater oversight and security to the crypto industry, it also raises concerns about regulatory overreach and its potential negative impact on innovation and privacy. As the debate continues, the U.S. legislative and regulatory landscape for cryptocurrencies remains in flux, balancing the need for security with the desire to foster technological innovation.
Source: decrypt.co
The post Marshall Becomes First US Senator to Walk from Controversial Crypto Bill He Co-Sponsored appeared first on HIPTHER Alerts.
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