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Converge Technology Solutions Reports Second Quarter 2023 Financial Results

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on

converge-technology-solutions-reports-second-quarter-2023-financial-results

TORONTO and GATINEAU, QC, Aug. 9, 2023 /PRNewswire/ — Converge Technology Solutions Corp. (“Converge” or “the Company“) (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF) is pleased to provide its financial results for the three and six months period ended June 30, 2023 (“Q2-23”).  All figures are in Canadian dollars unless otherwise stated.

Financial Summary

In $000s except per share amounts

 

Q2 2023

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Q2 2022

 

H1 2023

 

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H1 2022

Gross Sales1

957,219

729,678

1,922,477

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1,403,607

Revenue

665,813

515,196

1,344,011

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1,009,236

Gross profit (GP)

175,672

133,152

347,260

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242,196

Gross profit (GP) %

26.4 %

25.8 %

25.8 %

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24.0 %

Adjusted EBITDA1

41,527

39,187

82,735

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68,836

Adjusted EBITDA1 as a % of GP

23.6 %

29.4 %

23.8 %

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28.4 %

Adjusted EBITDA1 as a % of Revenue

6.2 %

7.6 %

6.2 %

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6.8 %

Net (loss) income

(4,495)

11,678

(7,856)

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9,270

Adjusted net income1

$25,124

29,900

$49,565

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52,410

Adjusted EPS1

$0.12

$0.14

$0.24

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$0.24

 

Q2-23 Financial Highlights:

  • Gross sales1 of $957.2 million compared to $729.7 million in Q2-22; an increase of $227.5 million or 31%
  • Gross services sales1 of $317.2 million increased by 33% year-over-year
  • Gross Profit of $175.7 million compared to $133.1 million in Q2-22; an increase of $42.5 million or 32%
  • Organic gross profit growth for Q2-23 was 2.5% driven by 14.4% increase in services organic gross profit
  • Adjusted EBITDA1 of $41.5 million, increasing from $39.2 million in Q2-22 by 6%
  • Revenue for Q2-23 of $665.8 million, an increase of 29% over Q2-22 
  • Product Bookings backlog2 at the end of Q2-23 was $447.6 million
  • Achieved 112 net new logos3 in Q2-23, securing 215 net new logos in H1-23

___________________________________

1 This is a Non-IFRS measure (including non-IFRS ratio) and not a recognized, defined or a standardized measure under IFRS. See the Non-IFRS Financial Measures section of this news release for definitions, uses and a reconciliation of historical non-IFRS financial measures to the most directly comparable IFRS financial measures.

2 Bookings backlog is calculated as purchase orders received from customers not yet delivered at the end of the fiscal period for North America Region.

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3 Statistic based on North American Region.

 

Q2-23 Business Highlights & Subsequent to Quarter

  • Board of Directors authorize second quarter dividend of $0.01 per common share to be paid on September 22nd, 2023 to shareholders of record at the close of business on September 8th, 2023
  • Converge concluded its previously announced NCIB program after purchasing 4.28 million shares throughout Q2-23
  • The Company announced that the Toronto Stock Exchange approved the Company’s Notice of Intention to make a Normal Course Issuer Bid. Pursuant to the NCIB, the Company may purchase for cancellation up to an aggregate of 19,427,276 common shares. All common shares acquired by the Company under the NCIB will be cancelled

“Converge continued to execute on its cross-sell strategy throughout the second quarter and drove high value solutions with clients by leveraging our advisory, implementation, and managed services across all practice areas.  Today 60% of Converge sales representatives in North America are now driving more than 4 solution areas with their clients,” said Greg Berard, Converge Global CEO. “In today’s IT environment, Converge continues to shape and transform innovation, revolutionizing client-technology interactions. A distinguishing reason clients continue to partner with Converge is our ability to provide end-to-end solutions for cloud, hardware, and software, all while leveraging the technical expertise required for effective professional and managed services.  Converge has built a unique set of skills supported by foundational partnerships across Analytics, AI, Cloud, and Cybersecurity and will continue to develop leading solutions to adapt with our clients’ growing needs.  I am extremely proud of our team’s performance which has resulted in record gross profit in Q2-23.”

Conference Call Details:
Date: Wednesday, Aug 9th, 2023
Time: 8:00 AM Eastern Time

Participant Webcast Link: 
Webcast Link – https://app.webinar.net/gkXqYQ1YE8v
Participant Dial-in Details with Operator Assistance:
Conference ID: 70789128
Toronto: 416-764-8609
North American Toll Free: 888-390-0605

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International Toll-Free Numbers:
Germany: 08007240293
Ireland: 1800939111
Spain: 900834776
Switzerland: 0800312635
United Kingdom: 08006522435

You may register and enter your phone number to receive an instant automated call back via 
https://emportal.ink/3OgdiaZ 

Recording Playback:
Webcast Link – https://app.webinar.net/gkXqYQ1YE8v
Toronto: 416-764-8677
North American Toll Free:  1-888-390-0541
Replay Code: 789128 #
Expiry Date: August 16th, 2023

Please connect at least 15 minutes prior to the conference call to ensure time for any software download that may be required to access the webcast. A live audio webcast accompanied by presentation slides and archive of the conference call and webcast will be available by visiting the Company’s website at https://convergetp.com/investor-relations/.

About Converge

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Converge Technology Solutions Corp. is a services-led, software-enabled, IT & Cloud Solutions provider focused on delivering industry-leading solutions. Converge’s global approach delivers advanced analytics, application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. The Company supports these solutions with advisory, implementation, and managed services expertise across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.

Summary of Consolidated Statements of Financial Position
(expressed in thousands of Canadian dollars)

June 30, 2023

December 31, 2022

Assets

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Current

     Cash

$             78,443

$             159,890

     Restricted cash

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2,611

5,230

     Trade and other receivables

781,330

781,683

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     Inventories

160,411

158,430

     Prepaid expenses and other assets

23,337

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23,046

1,046,132

1,128,279

Non-current

     Other assets

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17,943

4,646

     Property, equipment, and right-of-use assets, net

73,659

88,352

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     Intangible assets, net

419,403

463,751

     Goodwill

561,283

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563,848

Total assets

$          2,118,420

$          2,248,876

Liabilities

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Current

     Trade and other payables

$             814,855

$             824,924

     Other financial liabilities

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63,082

123,932

     Deferred revenue

47,475

60,210

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     Borrowings

398

421,728

     Income taxes payable

7,816

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7,112

933,626

1,437,906

Non-current

     Other financial liabilities

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51,701

77,183

     Borrowings

429,909

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     Deferred tax liabilities

88,278

102,977

 Total liabilities

$          1,503,514

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$          1,618,066

Shareholders’ equity

     Common shares

604,144

595,019

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     Contributed surplus

9,243

7,919

     Exchange rights

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1,705

     Accumulated other comprehensive income

156

13,708

     Deficit

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(27,186)

(18,441)

Total equity attributable to shareholders of Converge

586,357

599,910

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Non-controlling interest

28,549

30,900

614,906

630,810

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Total liabilities and shareholders’ equity

$        2,118,420

$        2,248,876

 

Summary of Consolidated Statements of Loss and Comprehensive Loss
(expressed in thousands of Canadian dollars)

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Three months ended
June 30,

Six months ended
June 30,

2023

2022

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2023

2022

Revenues

  Product

$

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511,597

$

410,361

$

1,048,286

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$

807,753

  Service

154,216

104,835

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295,725

201,483

Total revenue

665,813

515,196

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1,344,011

1,009,236

Cost of sales

490,141

382,044

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996,751

767,040

Gross profit

175,672

133,152

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347,260

242,196

Selling, general and administrative expenses 

136,699

95,823

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268,732

176,235

Income before the following

38,973

37,329

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78,528

65,961

Depreciation and amortization

26,893

17,178

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52,783

31,657

Finance expense, net

10,652

3,094

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20,002

4,912

Special charges

13,292

5,559

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17,576

11,280

Share-based compensation

1,117

1,685

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1,965

2,897

Other (income) expenses

(6,529)

(3,265)

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(4,060)

3,138

Income before income taxes

(6,452)

13,078

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(9,738)

12,077

Income tax (recovery) expense

(1,957)

1,400

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(1,882)

2,807

Net (loss) income

$

(4,495)

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$

11,678

$

(7,856)

$

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9,270

Net (loss) income attributable to:

      Shareholders of Converge

(3,548)

12,017

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(5,505)

10,223

      Non-controlling interest

(947)

(339)

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(2,351)

(953)

$

(4,495)

$

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11,678

$

(7,856)

$

9,270

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Other comprehensive (loss) income

Item that may be reclassified subsequently to income:

Exchange differences on translation of foreign operations

(15,725)

5,554

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(13,552)

(1,034)

(15,725)

5,554

(13,552)

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(1,034)

Comprehensive (loss) income

$

(20,220)

$

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17,232

$

(21,408)

$

8,236

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Comprehensive (loss) income attributable to:

 Shareholders of Converge 

(19,273)

17,571

(19,057)

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9,189

 Non-controlling interest

(947)

(339)

(2,351)

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(953)

(20,220)

17,232

(21,408)

8,236

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Adjusted EBITDA

41,527

39,187

82,735

68,836

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Adjusted EBITDA as a % of Gross Profit

23.6 %

29.4 %

23.8 %

28.4 %

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Adjusted EBITDA as a % of Revenue

6.2 %

7.6 %

6.2 %

6.8 %

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Summary of Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars)

For the three months
ended June 30,

For the six months

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ended June 30,

2023

2022

2023

2022

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Cash flows (used in) from operating activities

Net (loss) income

$

(4,495)

$

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11,678

$

(7,856)

$

9,270

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Adjustments to reconcile net (loss) income to net
cash from operating activities

Depreciation and amortization

29,235

18,739

56,785

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33,969

Unrealized foreign exchange (gains) losses

(5,281)

(2,968)

(2,818)

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3,701

Share-based compensation expense

1,117

1,685

1,965

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2,897

   Finance expense, net

10,652

3,094

20,002

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4,912

   Gain on sale of property and equipment

(598)

(598)

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   Change in fair value of contingent consideration

6,551

6,551

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   Income tax (recovery) expense

(1,957)

1,400

(1,882)

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2,807

35,224

33,628

72,149

57,556

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   Changes in non-cash working capital items

(40,349)

9,214

(41,585)

(44,290)

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(5,125)

42,842

30,564

13,266

   Income taxes paid

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(4,520)

(16,272)

(11,446)

(17,025)

Cash (used in) from operating activities

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(9,645)

26,570

19,118

(3,759)

Cash flows used in investing activities

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Purchase of property and equipment

(2,091)

(3,123)

(7,197)

(14,479)

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Proceeds on disposal of property and equipment 

3,681

3,749

178

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Payment of contingent consideration

(975)

(9,935)

(10,168)

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Payment of deferred consideration

(4,066)

(5,208)

(29,720)

(6,948)

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Payment of NCI liability

(29,994)

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Business combinations, net of cash acquired

(131,545)

(199,471)

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Cash used in investing activities

(3,451)

(139,876)

(73,097)

(230,888)

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Cash flows (used in) from financing activities

Transfers from (to) restricted cash

2,371

58,980

2,587

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(4,513)

Interest paid

(7,365)

(2,102)

(15,242)

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(3,058)

Dividend paid

(2,067)

(1,100)

(2,067)

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(1,100)

Payments of lease liabilities

(5,089)

(2,304)

(10,224)

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(5,032)

Repurchase of common shares

(14,230)

(14,230)

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Repayment of notes payable

(40)

(38)

(80)

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(159)

Net (repayment) proceeds from borrowings

(22,815)

22,351

11,384

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184,819

Cash (used in) from financing activities

(49,235)

75,787

(27,872)

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170,957

Net change in cash during the period

(62,331)

(37,519)

(81,851)

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(63,690)

Effect of foreign exchange on cash

1,746

4,526

404

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(328)

Cash, beginning of period

139,028

217,168

159,890

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248,193

Cash, end of period

$

78,443

$

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184,175

$

78,443

$

184,175

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Non-IFRS Financial Measures

This release refers to certain performance indicators including Adjusted EBITDA that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.  Management believes that these measures are useful to most shareholders, creditors, and other stakeholders in analyzing the Company’s results. These non-IFRS financial measures should not be considered as an alternative to the consolidated income (loss) or any other measure of performance under IFRS. 

Adjusted EBITDA

Adjusted EBITDA represents net income or loss adjusted to exclude amortization, depreciation, interest expense and finance costs, foreign exchange gains and losses, share-based compensation expense, income tax expense, and special charges. Special charges consist primarily of restructuring related expenses for employee terminations, lease terminations, and restructuring of acquired companies, as well as certain legal fees or provisions related to acquired companies. From time to time, it may also include adjustments in the fair value of contingent consideration, and other such non-recurring costs related to restructuring, financing, and acquisitions.

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The Company uses Adjusted EBITDA to provide investors with a supplemental measure of its operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the ability to meet capital expenditure and working capital requirements.

Adjusted EBITDA is not a recognized, defined or standardized measure under IFRS. The Company’s definition of Adjusted EBITDA will likely differ from that used by other companies and therefore comparability may be limited.  Adjusted EBITDA should not be considered a substitute for or in isolation from measures prepared in accordance with IFRS.  Investors are encouraged to review the Company’s financial statements and disclosures in their entirety and are cautioned not to put undue reliance on non-IFRS measures and view them in conjunction with the most comparable IFRS financial measures.

The Company has reconciled Adjusted EBITDA to the most comparable IFRS financial measure as follows:

For the three months

ended June 30,

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For the six months

ended June 30,

2023

2022

2023

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2022

Net income (loss) before taxes

$    (6,452)

$    13,078

$    (9,738)

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$     12,077

Finance expense

10,652

3,094

20,002

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4,912

Share-based compensation expense

1,117

1,685

1,965

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2,897

Depreciation and amortization

26,893

17,178

52,783

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31,657

Depreciation included in cost of sales

2,342

1,561

4,002

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2,312

Foreign exchange loss (gain)

(6,317)

(2,968)

(3,855)

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3,701

Special charges

13,292

5,559

17,576

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11,280

Adjusted EBITDA

$    41,527

$   39,187

$    82,735

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$   68,836

 

Adjusted EBITDA as a % of Gross Profit

The Company believes that Adjusted EBITDA as a % of Gross Profit is a useful measure of the Company’s operating efficiency and profitability. This is calculated by dividing Adjusted EBITDA by gross profit.

Adjusted Net Income (Loss) and Adjusted Earnings per Share (“EPS”)

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Adjusted Net Income (Loss) represents net income (loss) adjusted to exclude special charges, amortization of acquired intangible assets, and share-based compensation. The Company believes that Adjusted Net Income (Loss) is a more useful measure than net income (loss) as it excludes the impact of one-time, non-cash and/or non-recurring items that are not reflective of Converge’s underlying business performance. Adjusted EPS is calculated by dividing Adjusted Net Income (Loss) by the total weighted average shares outstanding on a basic and diluted basis. 

The Company has provided a reconciliation to the most comparable IFRS financial measure as follows:

For the three months

For the six months

ended June 30,

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ended June 30,

2023

2022

2023

2022

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Net (loss) income

$    (4,495)

$    11,678

$    (7,856)

$       9,270

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Special charges

13,292

5,559

17,576

11,280

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Amortization of acquired intangible assets

21,527

13,946

41,735

25,262

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Foreign exchange loss

(6,317)

(2,968)

(3,855)

3,701

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Share-based compensation

1,117

1,685

1,965

2,897

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Adjusted Net Income:

$    25,124

$    29,900

$     49,565

$     52,410

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     Basic

0.12

0.14

0.24

0.24

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Gross sales and gross sales for organic growth

Gross sales, which is a non-IFRS measurement, reflects the gross amount billed to customers, adjusted for amounts deferred or accrued. The Company believes gross sales is a useful alternative financial metric to net revenue, the IFRS measure, as it better reflects volume fluctuations as compared to net revenue. Under the applicable IFRS 15 ‘principal vs agent’ guidance, the principal records revenue on a gross basis and the agent records commission on a net basis. In transactions where Converge is acting as an agent between the customer and the vendor, net revenue is calculated by reducing gross sales by the cost of sale amount. 

The Company has provided a reconciliation of gross sales to net revenue, which is the most comparable IFRS financial measure, as follows:

For the three months

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For the six months

ended June 30,

ended June 30,

2023

2022

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2023

2022

Product

$    639,996

$    491,821

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$    1,305,306

$       945,210

Managed services

45,182

32,268

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85,818

66,251

Third party and professional services

272,041

205,589

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531,353

392,146

Gross sales

$    957,219

$    729,678

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$    1,922,477

$    1,403,607

Adjustment for sales transacted as agent

(291,406)

(214,482)

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(578,466)

(394,371)

Net Revenue

$    665,813

$    515,196

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$    1,344,011

$    1,009,236

 

Organic Growth

The Company measures organic growth at the gross sales and gross profit levels, and includes the contributions under Converge ownership in the current and comparative period(s). In calculating organic growth, the Company therefore deducts gross sales and gross profit generated from companies that were acquired in the current reporting period.

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Gross sales organic growth is calculated by deducting prior period gross sales, as reported in the Company’s public filings, from current period gross sales for the same portfolio of companies. Gross sales organic growth percentage is calculated by dividing organic growth by prior period reported gross sales.

The following table calculates gross sales organic growth for three and six months ended June 30, 2023:

For the three months

For the six months

ended June 30,

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ended June 30,

2023

2022

2023

2022

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Gross sales

$    957,219

$    729,678

$    1,922,477

$    1,403,607

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Less: gross sales from companies not
owned in comparative period

214,227

215,748

459,857

404,433

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Gross sales of companies owned in
comparative period

$    742,992

$    513,930

$    1,462,620

$       999,174

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Prior period gross sales

729,678

452,120

1,403,607

860,220

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Organic Growth – $

$      13,314

$      61,810

$         59,013

$       138,954

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Organic Growth – %

1.8 %

13.7 %

4.2 %

16.2 %

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Gross profit organic growth is calculated by deducting prior period gross profit, as reported in the Companies public filings, from current period gross profit for the same portfolio of companies. Gross profit organic growth percentage is calculated by dividing organic growth by prior period reported gross profit.

For the three months

For the six months

ended June 30,

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ended June 30,

2023

2022

2023

2022

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Gross profit

$    175,672

$    133,152

$      347,260

$      242,196

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Less: gross profit from companies not
owned in comparative period

39,239

40,737

83,836

72,545

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Gross profit of companies owned in
comparative period

$    136,433

$      92,415

$      263,424

$      169,651

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Prior period gross profit

133,152

78,244

242,197

146,041

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Organic Growth – $

$        3,281

$      14,171

$        21,227

$        23,610

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Organic Growth – %

2.5 %

18.1 %

8.8 %

16.2 %

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Forward-Looking Information 

This press release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected” “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”. “estimates”, “believes” or intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Except as required by law, Converge assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.  The reader is cautioned not to place undue reliance on forward-looking statements.

For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s filings statement available on SEDAR under the Company’s profile at www.sedar.com including its most recent Annual Information Form, its Management Discussion and Analysis and its Annual and Quarterly Financial Statements.

CONTACT : Converge Technology Solutions Corp., Email: [email protected], Phone: 416-360-1495

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Blockchain

Blocks & Headlines: Today in Blockchain – March 11, 2025: Utah Legislature, Pakistan, Women Leaders, JPMorgan, XRPTurbo, Ripple XRP

Published

on

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In a digital era where decentralization and disruptive technologies are reshaping the global financial ecosystem, blockchain and cryptocurrency remain at the forefront of innovation and regulatory debate. Today’s briefing, “Blocks & Headlines: Today in Blockchain – March 11, 2025,” brings you an in-depth analysis of the latest developments that are stirring the industry. From groundbreaking legislative moves in Utah and ambitious blockchain projects in Pakistan, to celebrating the trailblazing leadership of women in blockchain and AI, and transformative investments by financial giants like JPMorgan, the news is rich with insights that will determine the future of digital assets. Rounding out the day’s highlights is XRPTurbo—a project on a mission to redefine presale dynamics on the Ripple XRP blockchain.

This comprehensive daily briefing examines each story in detail, offering both factual coverage and op-ed–style commentary on their significance for blockchain, cryptocurrency, Web3, DeFi, and NFTs. Whether you’re a seasoned investor, a tech enthusiast, or a policymaker, understanding these narratives is critical to navigating the evolving landscape. In the sections that follow, we delve into the specifics of each development, explore the broader implications for the industry, and discuss what these trends mean for the future of decentralized finance and digital innovation.


1. Utah Legislature Passes Blockchain Bill – A New Regulatory Milestone

In a decisive move that could reshape the legal landscape for digital assets, the Utah Legislature recently passed a blockchain bill that notably drops a previously contentious Bitcoin reserve provision. This legislative shift, reported by Source: Decrypt, signals a growing acceptance of blockchain technology in government circles and may serve as a catalyst for further innovation in the cryptocurrency space.

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1.1 Legislative Evolution and Its Impact on Crypto Regulation

Utah’s new blockchain bill represents a significant policy realignment. Previously, the inclusion of a Bitcoin reserve provision in legislative drafts had raised concerns about the potential for overregulation and market distortion. By eliminating this clause, lawmakers are sending a clear message: they intend to foster an environment that encourages blockchain innovation without unnecessary regulatory constraints.

This legislative pivot has multiple implications:

  • Regulatory Clarity: By removing the Bitcoin reserve provision, Utah is clarifying its stance on digital assets, thereby reducing legal uncertainty for businesses operating in the blockchain space.
  • Innovation Incentives: A lighter regulatory touch can attract startups and established crypto firms alike, stimulating investment and innovation within the state.
  • Market Confidence: Investors often view regulatory clarity as a positive signal. With fewer ambiguities in the legal framework, market participants may feel more secure in deploying capital and pursuing new ventures.

The decision by Utah lawmakers is not just a local policy update; it is part of a broader trend in which states and nations are increasingly recognizing the importance of blockchain technology. As more jurisdictions craft legislation that balances innovation with necessary oversight, the industry is likely to see a proliferation of policies that support growth while safeguarding consumer interests.

1.2 The Role of Blockchain Legislation in Shaping Future Markets

The removal of the Bitcoin reserve provision is a testament to the evolving regulatory mindset. Lawmakers are beginning to understand that overly rigid policies can stifle the very innovation that blockchain technology promises. This shift is expected to have several downstream effects:

  • Encouraging Public–Private Partnerships: With a clearer regulatory framework, both public institutions and private companies may be more willing to collaborate on blockchain projects.
  • Catalyzing Investment: Investors may view Utah as a “crypto-friendly” jurisdiction, leading to increased capital inflows and the establishment of innovation hubs.
  • Setting Precedents: As other states and countries observe Utah’s progressive approach, similar legislative measures could be adopted elsewhere, gradually harmonizing global standards for blockchain regulation.

1.3 Strategic Commentary

From an op-ed perspective, the Utah Legislature’s decision is a forward-thinking maneuver that balances oversight with innovation. It reflects an understanding that blockchain technology, with its decentralized architecture and transparency, offers immense potential for economic growth and efficiency. By removing the restrictive Bitcoin reserve provision, Utah is not only paving the way for a more dynamic crypto market but also establishing itself as a model for other jurisdictions to follow.

This development should encourage other policymakers to reassess outdated regulatory frameworks that may hinder technological progress. As blockchain technology continues to mature, the interplay between regulation and innovation will be critical. Utah’s new bill is a strong reminder that regulatory environments must evolve alongside technology to unlock the full potential of digital assets.

Source: Decrypt

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2. Pakistan Explores Blockchain for Multibillion-Dollar Remittances

In another transformative move, Pakistan is set to explore blockchain technology to facilitate multibillion-dollar remittances from abroad, as reported by Source: CoinDesk. This initiative represents a strategic effort to modernize the country’s financial infrastructure and tap into the enormous potential of decentralized finance.

2.1 Revolutionizing Cross-Border Payments with Blockchain

Remittances have long been a cornerstone of Pakistan’s economy, with millions of dollars sent home by expatriates each year. Traditional remittance systems, however, are often plagued by high fees, slow transaction times, and a lack of transparency. By leveraging blockchain technology, Pakistan aims to overcome these limitations and create a more efficient, cost-effective, and transparent remittance system.

Key benefits of blockchain in remittance include:

  • Cost Reduction: Blockchain’s decentralized network minimizes the need for intermediaries, thereby reducing transaction fees.
  • Speed and Efficiency: Transactions can be processed in near real time, compared to the several days often required by traditional systems.
  • Enhanced Transparency: The immutable ledger ensures that all transactions are recorded and verifiable, reducing the risk of fraud and corruption.
  • Financial Inclusion: Improved remittance systems can provide greater access to financial services for underserved populations, driving economic empowerment.

2.2 Strategic Considerations and Economic Impact

Pakistan’s exploration of blockchain for remittances is not just a technological upgrade—it is a strategic initiative with far-reaching economic implications. With billions of dollars in remittances flowing into the country, even small improvements in efficiency and cost reduction can translate into significant economic benefits. By reducing transaction fees and speeding up transfers, more money remains in the hands of families, potentially boosting local consumption and investment.

Furthermore, the adoption of blockchain in the remittance sector could position Pakistan as a regional leader in financial technology innovation. This initiative may inspire neighboring countries to pursue similar strategies, fostering a broader ecosystem of blockchain-based financial solutions in the region.

2.3 Strategic Commentary

From an analytical perspective, Pakistan’s move to integrate blockchain into its remittance system is a bold step towards financial modernization. In an era where digital transformation is essential for economic growth, embracing blockchain technology is not merely an option—it is a necessity. This initiative highlights the potential for blockchain to transform traditional financial systems by increasing efficiency, reducing costs, and enhancing transparency.

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For policymakers and financial institutions worldwide, Pakistan’s experiment serves as a valuable case study in the practical application of blockchain for public benefit. It demonstrates that when technology is harnessed thoughtfully, it can address longstanding inefficiencies and unlock new avenues for economic development.

Source: CoinDesk


3. Celebrating Women Pioneering AI & Blockchain Leadership

In a refreshing and empowering narrative, Forbes recently spotlighted “10 Women Pioneering AI & Blockchain Leadership” in honor of Women’s History Month. This feature celebrates the achievements of female leaders who are breaking barriers and driving innovation in the intersection of artificial intelligence and blockchain technology.

3.1 Recognizing Trailblazing Leaders in a Male-Dominated Industry

For decades, the fields of blockchain and AI have been dominated by male voices. However, a growing number of women are making significant strides and reshaping the industry through visionary leadership, technical innovation, and entrepreneurial spirit. The Forbes feature highlights how these trailblazers are not only contributing to technological advancements but also inspiring a more inclusive and diverse ecosystem.

Key aspects of their contributions include:

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  • Innovative Solutions: These leaders are developing groundbreaking applications that leverage blockchain and AI to solve real-world problems.
  • Mentorship and Advocacy: Beyond their technical achievements, many of these women are actively involved in mentoring the next generation of innovators and advocating for greater diversity within the industry.
  • Strategic Vision: Their work is characterized by a forward-thinking approach that combines technical expertise with strategic insights, paving the way for new business models and technological breakthroughs.
  • Community Building: By creating networks and platforms for collaboration, these leaders are fostering an environment where diverse voices can thrive and drive industry progress.

3.2 Broader Implications for Diversity and Innovation

The recognition of these pioneering women has broader implications for the blockchain and AI sectors. Greater diversity in leadership is correlated with increased innovation, better decision-making, and more resilient organizational cultures. By shining a light on these women, Forbes not only celebrates individual accomplishments but also underscores the importance of inclusivity in driving technological progress.

The impact of this narrative extends beyond the realm of technology. It serves as a powerful reminder that diversity and inclusion are critical components of sustainable growth in any industry. As more women take on leadership roles in blockchain and AI, the industry as a whole stands to benefit from a richer array of perspectives, ideas, and solutions.

3.3 Strategic Commentary

From an op-ed perspective, the spotlight on women pioneers in AI and blockchain is both timely and essential. In a rapidly evolving technological landscape, embracing diversity is not just a moral imperative—it is a strategic advantage. The innovative contributions of these women are reshaping the industry, challenging stereotypes, and setting new benchmarks for excellence.

Their success stories serve as an inspiration for organizations to invest in diversity and inclusion initiatives, which in turn can drive innovation and improve competitive positioning. For the broader blockchain and cryptocurrency communities, celebrating these trailblazers is a reminder that the future of technology is built on the strength of diverse perspectives and collaborative efforts.

Source: Forbes


4. JPMorgan’s Digital Assets and Real Estate Blockchain Integration

Financial giant JPMorgan is making headlines once again by announcing its investment of $3 million in blockchain technology for real estate digital assets. Fortune reports that this move is part of a broader strategy to leverage blockchain’s capabilities to bring transparency, efficiency, and liquidity to the traditionally opaque real estate market.

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4.1 Bridging the Gap Between Traditional Finance and Blockchain Innovation

JPMorgan’s foray into integrating blockchain with real estate is a significant development for both the financial and property sectors. Real estate has historically been characterized by cumbersome processes, high transaction costs, and a lack of transparency. By using blockchain technology, JPMorgan aims to streamline property transactions, reduce administrative overhead, and create a more dynamic market for digital assets.

The benefits of blockchain integration in real estate include:

  • Enhanced Transparency: Blockchain’s immutable ledger ensures that all property transactions are recorded accurately and can be audited easily, reducing the risk of fraud.
  • Improved Efficiency: Smart contracts can automate various aspects of real estate transactions—from property transfers to escrow management—cutting down on processing time and costs.
  • Increased Liquidity: Tokenizing real estate assets can open up new avenues for investment by allowing fractional ownership and easier transferability of assets.
  • Cost Reduction: By eliminating intermediaries and streamlining processes, blockchain can significantly reduce transaction fees and administrative burdens.

4.2 Strategic Implications for the Financial Sector

JPMorgan’s investment is emblematic of a broader trend where traditional financial institutions are increasingly embracing blockchain to modernize their operations. This integration not only enhances operational efficiency but also positions banks to tap into emerging revenue streams in the digital economy. The move is likely to spur further investments in blockchain projects within the real estate sector, paving the way for innovative business models that blend traditional finance with decentralized technology.

4.3 Strategic Commentary

From an analytical standpoint, JPMorgan’s venture into blockchain-based real estate is a strategic masterstroke. It illustrates how legacy institutions can harness emerging technologies to drive efficiency and unlock new opportunities. This initiative is a clear indication that the convergence of finance and blockchain is not a fleeting trend, but a transformative shift that will redefine asset management and transactional dynamics for years to come.

For industry observers, JPMorgan’s investment serves as a blueprint for how financial institutions can innovate within traditional sectors. It is a call for banks and investment firms to reimagine their business models in an era where digital assets are becoming increasingly integral to global markets.

Source: Fortune

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5. XRPTurbo: The DAOMaker of Ripple XRP’s Presale – Gaining Massive Traction

In a development that has captured the imagination of blockchain enthusiasts and investors alike, XRPTurbo is rapidly emerging as a key player in the Ripple XRP ecosystem. Globe Newswire reports that XRPTurbo is on a mission to become the “DAOMaker” of the XRP blockchain presale market—a bold initiative that has already gained massive traction among crypto communities.

5.1 Redefining Presale Dynamics on the XRP Blockchain

XRPTurbo’s ambitious vision is to revolutionize the way presales are conducted on the Ripple XRP blockchain. By leveraging decentralized autonomous organization (DAO) principles, XRPTurbo aims to create a transparent, community-driven platform that streamlines the presale process for new projects. This innovative approach addresses several pain points in traditional presales, such as lack of transparency, centralized control, and limited investor participation.

The platform’s core features include:

  • Decentralized Governance: Empowering the community to participate in decision-making, ensuring that presale processes are transparent and democratically managed.
  • Enhanced Liquidity: By tokenizing presale stakes, XRPTurbo provides investors with greater liquidity and the ability to trade assets more freely.
  • Robust Security: Utilizing the security features of the XRP blockchain to safeguard investor funds and maintain the integrity of the presale process.
  • Community Engagement: Encouraging active participation from crypto enthusiasts and investors, fostering a vibrant ecosystem around new blockchain projects.

5.2 Broader Implications for the Ripple XRP Ecosystem

XRPTurbo’s success is indicative of a broader trend in the blockchain space where decentralization and community governance are becoming increasingly important. As the Ripple XRP ecosystem continues to mature, projects like XRPTurbo are likely to drive increased adoption by making it easier for investors to access new opportunities in a secure and transparent manner.

Moreover, the initiative may set a precedent for other blockchain networks looking to implement decentralized presale mechanisms. By demonstrating the viability and benefits of a DAO-driven approach, XRPTurbo is positioning itself as a leader in the next wave of blockchain innovation.

5.3 Strategic Commentary

From an op-ed standpoint, XRPTurbo’s bold strategy reflects the disruptive potential of decentralized technologies. In an era where trust and transparency are paramount, the move to decentralize presale governance represents a significant evolution in how blockchain projects are funded and managed. XRPTurbo’s rising traction is a clear signal that the future of crypto fundraising will be defined by community empowerment and decentralized decision-making.

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This development challenges traditional paradigms and encourages both investors and developers to rethink how capital is raised and allocated in the blockchain space. As more projects embrace decentralized models, the overall ecosystem will become more resilient, innovative, and aligned with the principles of blockchain technology.

Source: GlobeNewsWire


6. Synthesis: Major Takeaways from Today’s Blockchain Developments

As we reflect on the diverse developments covered in today’s briefing, several key themes emerge that are reshaping the blockchain and cryptocurrency landscape:

6.1 Regulatory Evolution and Its Ripple Effects

Utah’s legislative shift, marked by the removal of a restrictive Bitcoin reserve provision, underscores a broader trend toward regulatory clarity. By fostering an environment that encourages innovation, regulators are paving the way for a more dynamic and resilient crypto market. This trend is likely to inspire similar policy changes across other jurisdictions, promoting a global environment where blockchain technology can flourish.

6.2 Blockchain for Financial Inclusion and Efficiency

Pakistan’s initiative to leverage blockchain for multibillion-dollar remittances is a powerful example of how digital assets can transform traditional financial systems. By reducing costs and improving transparency in remittance flows, blockchain has the potential to drive significant economic growth and financial inclusion in developing markets.

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6.3 Diversity as a Catalyst for Innovation

The celebration of women pioneers in AI and blockchain is not just about recognition—it is about recognizing the value of diverse leadership in driving technological innovation. Greater diversity in the tech space fosters creativity, enhances problem-solving, and ultimately leads to more robust and sustainable innovations.

6.4 Convergence of Traditional Finance and Blockchain

JPMorgan’s strategic investment in blockchain-based real estate solutions is a testament to the convergence of traditional financial systems with cutting-edge technology. As legacy institutions embrace digital assets, we can expect a radical transformation in how assets are managed, traded, and valued.

6.5 Decentralized Governance and the Future of Fundraising

XRPTurbo’s innovative approach to decentralizing presale governance on the Ripple XRP blockchain highlights the transformative potential of decentralized finance (DeFi) models. By empowering communities and ensuring transparency in fundraising, such initiatives are setting the stage for the next evolution in crypto investments.

6.6 Strategic Takeaways for Industry Stakeholders

  • Embrace Regulatory Clarity: Organizations should stay abreast of evolving legislative frameworks and position themselves to leverage new regulatory environments.
  • Invest in Efficiency: Blockchain’s ability to reduce costs and enhance transparency offers tremendous opportunities for sectors such as remittances and real estate.
  • Champion Diversity: Fostering an inclusive environment is essential for driving innovation and ensuring sustainable growth in the blockchain space.
  • Adopt Decentralized Models: The success of platforms like XRPTurbo indicates that decentralization can unlock new avenues for investment and community engagement.
  • Collaborate Across Sectors: The convergence of traditional finance and blockchain underscores the need for cross-industry partnerships to harness the full potential of digital assets.

7. Conclusion: Charting the Future of Blockchain and Crypto Innovation

Today’s blockchain briefing has provided a panoramic view of an industry in rapid evolution. From progressive legislative reforms in Utah and transformative initiatives in remittances to the celebration of diversity in tech leadership and strategic investments by financial titans, the news of March 11, 2025, underscores the dynamic and multifaceted nature of the blockchain landscape.

As we have seen, each development is not an isolated event but part of a broader tapestry of innovation and transformation. Utah’s regulatory reforms and Pakistan’s blockchain experiments demonstrate that technology and policy must evolve hand in hand. Meanwhile, the stories of women leaders in blockchain and AI, JPMorgan’s foray into digital real estate, and XRPTurbo’s pioneering presale model serve as beacons of innovation—illustrating that the future of blockchain is as much about people and ideas as it is about technology.

Looking forward, the implications of these developments are profound. They signal a new era in which blockchain will not only disrupt traditional financial systems but also empower individuals, foster transparency, and drive global economic transformation. The integration of blockchain with decentralized finance, Web3 applications, and digital assets is poised to redefine everything from cross-border payments to real estate transactions, ensuring that the technology remains at the heart of a rapidly evolving digital ecosystem.

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For industry leaders, investors, policymakers, and enthusiasts alike, today’s news is both a call to action and a source of inspiration. The trends discussed in this briefing offer a roadmap for navigating the challenges ahead, highlighting the importance of innovation, collaboration, and strategic foresight. As blockchain continues to evolve, its transformative power will depend on our collective ability to embrace change, address regulatory and social challenges, and build a more inclusive and resilient digital future.

In closing, “Blocks & Headlines: Today in Blockchain – March 11, 2025” is more than just a collection of news stories—it is a reflection of a movement that is redefining the boundaries of technology and finance. As we continue to witness these groundbreaking developments, one thing is clear: the future of blockchain and cryptocurrency is bright, dynamic, and full of promise.

Thank you for joining us on this deep dive into the world of blockchain and crypto innovation. Stay tuned for future updates as we continue to track the trends, analyze the breakthroughs, and provide insights that will help you navigate the ever-changing digital landscape.

The post Blocks & Headlines: Today in Blockchain – March 11, 2025: Utah Legislature, Pakistan, Women Leaders, JPMorgan, XRPTurbo, Ripple XRP appeared first on News, Events, Advertising Options.

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Trader Takes Home 1 BTC from Bybit’s Crypto Dawn Campaign, Beating Over 300k Participants

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DUBAI, UAE, March 11, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the winner of the Crypto Dawn mega event. Running from Jan. 20 to Feb. 7, 2025, the event distributed daily rewards and gave away the ultimate prize of one full BTC to the lucky winner.

Over 300,000 eligible participants completed deposit and trading tasks to collect cards to enter the lucky draw, and one lucky trader hit the jackpot. In just four weeks, Bybit traders generated over $58 billion in eligible trading volume during the event.

On Feb. 7, a BTC block hash determined the ultimate winner: the trader’s lottery ticket numbers were the closest match to the block hash, and he was awarded 1 BTC.

The winner, known as SK, said he was “shocked and surprised” when the result was announced. “I was going about my daily routine when I received an email from Bybit that I had won one BTC from the Crypto Dawn event,” he said. A platform agnostic active trader, SK has tested the features and functionalities across exchanges, and found Bybit to have “stood out to be the most comfortable and user-friendly app”, where he learned about the Crypto Dawn event.

SK started  his crypto trading journey in 2019, when one BTC was worth about $8,000. His exploration into crypto territories has since shaped his strategies and long-term optimism of the digital asset industry. For the one BTC he has won in the Bybit event, he has planned to keep 50% for long-term investment, and reinvest the other half into other opportunities.

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“Bybit is all about celebrating our customers’ achievements and being part of their growth journey, and we are happy to share in a moment of celebration with SK,” Joan Han, Sales and Marketing Director of Bybit. “Part of the fun of trading on Bybit is our unique giveaway events and rewards, and we are committed to giving back to our community as we make crypto history together.”

Since it’s conception, BTC has experienced multiple watershed moments and emerged as the poster child of the digital asset class and the nascent digital economy. Bybit’s Crypto Dawn campaign captured a moment in BTC history, heralding a new era of cryptocurrencies.

Find out more about trading on Bybit and its variety of offers—from derivatives products to the crypto-native Bybit Card on www.bybit.com.

#Bybit  #TheCryptoArk

About Bybit

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Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press 

For media inquiries, please contact: [email protected]

For updates, please follow: Bybit’s Communities and Social Media

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

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Blocks & Headlines: Today in Blockchain – March 10, 2025 | Emirates NBD, BBVA, Pakistan Blockchain, Japan Crypto Reforms

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In today’s fast-evolving digital frontier, blockchain technology and the cryptocurrency industry continue to redefine finance, governance, and global commerce. With groundbreaking developments emerging daily, the landscape is marked by strategic partnerships, regulatory reforms, and innovative applications that push the boundaries of decentralization and digital assets. This op-ed-style daily briefing provides an in-depth analysis of the most significant news stories shaking the blockchain world—from Emirates NBD’s latest crypto trading innovation and BBVA’s approval for crypto services in Spain, to Pakistan’s ambitious blockchain remittance plans, a staggering forecast for blockchain in government, alarming trends in crypto crash liquidations, and Japan’s transformative reforms for crypto brokerages and stablecoins.

As governments and corporations accelerate their adoption of blockchain, the implications are far-reaching. Traditional financial institutions are reimagining their service offerings; emerging markets are leveraging decentralized finance (DeFi) to empower local economies; and regulatory bodies are striving to balance innovation with consumer protection. Today’s briefing will unpack these stories, providing detailed coverage and commentary on their broader significance for blockchain, cryptocurrency, Web3, DeFi, and NFTs.

Drawing on sources from industry-leading publications, this article not only summarizes the key events of the day but also offers an engaging, opinion-driven perspective on what these developments mean for the future of digital finance. Whether you’re a blockchain enthusiast, a cryptocurrency investor, or a policy maker looking to understand the pulse of the industry, our analysis aims to deliver clarity and insight amidst the complexity of today’s news.

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In the following sections, we explore each headline in detail. We begin with Emirates NBD’s pioneering launch of crypto trading on the LIV-X app—a move that signals the growing integration of traditional banking with digital assets. Next, we examine BBVA’s recent regulatory milestone in Spain, which opens up crypto trading for major cryptocurrencies such as Bitcoin and Ethereum. We then turn our attention to Pakistan’s bold plan to harness blockchain for multibillion-dollar remittances, highlighting its potential to transform international money transfers. Further, we analyze a report forecasting that blockchain technology within government sectors is expected to surge to a $791.5 billion market, underscoring the immense potential of public sector adoption. We also delve into the unsettling rise in crypto crash liquidations, a stark reminder of the volatility that underpins this nascent industry. Finally, we cover Japan’s approval of new crypto brokerage measures and stablecoin law reforms—a regulatory overhaul that could set a precedent for global crypto policy.

As we navigate these developments, a few key trends become apparent. First, the convergence of traditional finance and blockchain is accelerating, as evidenced by major banks embracing crypto trading and payment innovations. Second, national strategies are increasingly prioritizing blockchain not just for economic gains, but as a means of ensuring digital sovereignty and security. Third, regulatory frameworks are evolving rapidly, attempting to keep pace with the disruptive innovations in this space while ensuring consumer protection and market stability. And lastly, while the potential for transformative change is immense, the volatility and risks inherent in cryptocurrency markets continue to pose significant challenges.

Join us as we dive deep into today’s stories, offering a comprehensive and critical analysis that goes beyond the headlines to explore the implications, challenges, and opportunities in the world of blockchain and cryptocurrency.


1. Emirates NBD Launches Crypto Trading on the LIV-X App

Bridging Traditional Banking and Digital Assets

In a significant development that underscores the fusion of conventional finance with digital innovation, Emirates NBD has recently launched crypto trading on its LIV-X app. This initiative marks a pivotal moment for the bank as it seeks to bridge the gap between traditional banking services and the fast-paced world of cryptocurrencies.

Emirates NBD’s move is not merely a technological upgrade—it is a strategic response to the increasing demand for integrated digital financial services. By enabling crypto trading on an established platform, the bank is positioning itself at the forefront of a global shift toward digital assets. The LIV-X app, already renowned for its user-friendly interface and comprehensive financial tools, now offers customers a seamless gateway to trade popular cryptocurrencies alongside traditional assets.

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Strategic Rationale and Industry Impact

  • Enhancing Customer Offerings: The integration of crypto trading into the LIV-X app enhances the overall customer experience, providing investors with a single, unified platform to manage both traditional and digital assets. This consolidation not only improves accessibility but also drives customer engagement by offering diversified financial products.
  • Driving Digital Transformation: Emirates NBD’s decision reflects a broader trend in the banking sector toward digital transformation. As blockchain and crypto assets gain mainstream acceptance, financial institutions are compelled to innovate or risk obsolescence. The move to incorporate crypto trading into everyday banking is a testament to the bank’s commitment to staying ahead of the curve.
  • Boosting Market Competitiveness: By venturing into the crypto space, Emirates NBD is not only meeting customer demand but also positioning itself as a leader in the region’s evolving financial ecosystem. This strategic expansion is likely to attract tech-savvy clients and foster a culture of innovation within the institution.
  • Mitigating Risks and Compliance: Integrating crypto trading on a regulated platform like LIV-X also addresses concerns around security, compliance, and risk management. Emirates NBD is leveraging its robust infrastructure to ensure that crypto transactions are executed securely, adhering to stringent regulatory standards.

Op-Ed Insights: A Convergence of Traditions

From an op-ed perspective, Emirates NBD’s initiative is a clear indicator of the broader convergence between traditional finance and blockchain technology. This integration is not without its challenges—the regulatory landscape for cryptocurrencies remains complex and ever-changing—but the potential rewards are significant. By embedding crypto trading into its platform, Emirates NBD is not only broadening its service portfolio but also setting a benchmark for other banks in the region. The move signals a future where digital assets are as ubiquitous as conventional currencies, heralding a new era of financial inclusivity and innovation.

Source: The Paypers


2. BBVA Gains Approval for Crypto Trading Services in Spain

Opening the Doors to Mainstream Crypto Trading

Across the Iberian Peninsula, Spanish banking giant BBVA has achieved another milestone by securing approval for its crypto trading services. This regulatory green light now allows Spanish investors to access leading cryptocurrencies, including Bitcoin and Ethereum, through BBVA’s platforms—a development that could reshape the national financial landscape.

BBVA’s move is a critical step forward in the broader European crypto adoption narrative. The approval not only legitimizes crypto trading within a highly regulated market but also sends a strong signal to both retail and institutional investors about the growing maturity of the digital asset sector.

Implications for Investors and the Market

  • Regulatory Endorsement: The approval acts as a seal of legitimacy, encouraging more conservative investors to dip their toes into the crypto market. It demonstrates that, when executed within a robust regulatory framework, crypto trading can coexist with traditional financial services.
  • Enhanced Market Accessibility: With BBVA’s crypto trading services now accessible in Spain, a larger segment of the population will have the opportunity to invest in digital assets. This increased accessibility is likely to stimulate market activity and drive higher volumes of trading.
  • Economic Growth and Innovation: By pioneering crypto services in a regulated environment, BBVA is setting a precedent for other financial institutions across Europe. This development could spur innovation, attract fintech investments, and promote the development of complementary technologies such as blockchain-based financial instruments.
  • Risk Management and Security: BBVA’s adherence to strict regulatory standards ensures that investor protection and market stability are prioritized. The bank’s established infrastructure for managing digital assets helps mitigate risks commonly associated with crypto trading, such as volatility and cybersecurity threats.

Critical Analysis: The Regulatory Balancing Act

From an opinion-driven perspective, BBVA’s regulatory approval is both a cause for celebration and a reminder of the delicate balance that must be maintained between innovation and security. On one hand, the move is a clear endorsement of crypto’s potential as a mainstream asset class; on the other, it underscores the challenges regulators face in keeping pace with rapid technological change. The success of BBVA’s initiative will largely depend on its ability to navigate this complex regulatory environment while continuing to innovate and expand its offerings. In essence, BBVA is charting a course that, if successful, could accelerate the broader acceptance of digital assets across Europe and beyond.

Source: CoinFomania


3. Pakistan to Explore Blockchain for Multibillion-Dollar Remittances

Harnessing Blockchain for Financial Inclusion

In a bold strategic pivot, Pakistan is reportedly exploring the use of blockchain technology to manage multibillion-dollar remittances from abroad. As one of the world’s largest recipients of remittances, Pakistan faces significant challenges related to the efficiency and cost-effectiveness of cross-border money transfers. Blockchain’s inherent attributes—transparency, security, and decentralization—offer a promising solution to these challenges.

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The initiative, advised by industry experts, suggests that blockchain could streamline remittance processes, reduce intermediaries, and drastically lower transaction fees. By leveraging blockchain, Pakistan aims to not only enhance the speed and reliability of remittance flows but also boost financial inclusion for millions of its citizens who rely on these funds for their livelihood.

Strategic Benefits and Economic Impact

  • Cost Reduction: One of the most compelling advantages of blockchain in remittances is its potential to cut transaction costs. By eliminating the need for multiple intermediaries, blockchain can significantly reduce fees, ensuring that a larger share of remittances reaches recipients.
  • Increased Transparency: Blockchain’s immutable ledger provides a transparent record of every transaction, reducing the risks of fraud and corruption. This transparency is crucial for building trust among both senders and receivers.
  • Enhanced Efficiency: Traditional remittance channels are often plagued by delays and inefficiencies. Blockchain technology can process transactions in real time, ensuring that funds are transferred quickly and securely.
  • Financial Inclusion: By making remittance processes more efficient and affordable, blockchain can play a critical role in fostering financial inclusion. This, in turn, can contribute to economic development and poverty alleviation.
  • Stimulating Innovation: The adoption of blockchain for remittances could act as a catalyst for broader digital transformation in Pakistan, spurring innovation in other sectors such as banking, supply chain management, and government services.

Op-Ed Reflections: A Game-Changer for Emerging Markets

From an analytical standpoint, Pakistan’s exploration of blockchain for remittances is a landmark move that could set a precedent for other emerging markets. The traditional remittance system is fraught with inefficiencies and high costs; blockchain offers a radically different approach that is both scalable and secure. However, the transition to blockchain-based remittances is not without challenges. Issues related to regulatory compliance, technology adoption, and digital literacy must be addressed to fully realize its potential. Nevertheless, if successfully implemented, this initiative could not only revolutionize remittance flows in Pakistan but also serve as a model for financial reform in other countries facing similar challenges.

Source: TradingView (via CoinDesk)


4. Blockchain in Government: Market Forecast to Reach $791.5 Billion

A Vision for Public Sector Transformation

A recent report has projected that blockchain applications within government could burgeon into a market worth $791.5 billion. This forecast highlights the immense potential for blockchain technology to transform public sector operations, enhance transparency, and drive efficiencies in government services. From streamlining administrative processes to securing sensitive data, the adoption of blockchain in government is poised to revolutionize how states interact with citizens and manage public resources.

The report envisions blockchain’s role in various government functions, including identity verification, land registration, voting systems, and supply chain management. Such applications could help eliminate bureaucratic red tape, reduce corruption, and improve service delivery across multiple sectors.

Key Drivers and Future Prospects

  • Transparency and Accountability: Blockchain’s decentralized ledger technology offers unparalleled transparency, enabling governments to maintain tamper-proof records. This can enhance accountability and reduce opportunities for fraud.
  • Operational Efficiency: By automating processes and reducing the reliance on paper-based systems, blockchain can streamline government operations. This can lead to significant cost savings and faster service delivery.
  • Enhanced Security: Government databases are often prime targets for cyberattacks. Blockchain’s cryptographic security measures can provide robust protection for sensitive data, ensuring the integrity of public records.
  • Citizen Empowerment: With blockchain, governments can create more inclusive and participatory systems. For instance, blockchain-based voting platforms could make elections more secure and accessible, while digital identity solutions can empower citizens to access services more efficiently.
  • Economic Stimulus: The large-scale adoption of blockchain in government could drive substantial economic growth by fostering innovation, creating jobs in technology sectors, and attracting foreign investments in digital infrastructure.

Critical Analysis: Public Sector Disruption

From an op-ed perspective, the forecasted growth of blockchain in government underscores a paradigm shift in public administration. Governments worldwide are increasingly recognizing that traditional systems are ill-equipped to meet the demands of the digital age. The adoption of blockchain represents a bold step toward modernizing governance, improving service delivery, and building trust with citizens. However, the path to full-scale implementation will require overcoming challenges such as legacy system integration, regulatory harmonization, and public acceptance. The potential rewards—a more transparent, efficient, and secure government—make this a pursuit well worth the effort.

Source: CoinGeek

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5. Crypto Crash: Liquidations Soar Amid Market Volatility

Unpacking the Turbulence in Cryptocurrency Markets

Amid the rapidly shifting tides of the cryptocurrency market, recent reports indicate that crypto crash liquidations have soared to unprecedented levels. The volatility witnessed in recent weeks has not only rattled investors but also raised concerns about market stability and the long-term viability of digital assets. In times of extreme market stress, forced liquidations can exacerbate price declines, leading to a vicious cycle of selling pressure.

This turbulent episode serves as a stark reminder of the inherent risks in the crypto market. While digital assets offer transformative potential, they are also subject to dramatic fluctuations driven by factors ranging from regulatory uncertainty to macroeconomic shifts. The recent surge in liquidations reflects not only market panic but also the complex interplay between leveraged positions, automated trading algorithms, and investor sentiment.

Analyzing the Causes and Implications

  • Market Leverage: High levels of leverage among crypto traders can amplify losses during downturns. When market prices fall sharply, margin calls and forced liquidations can trigger a cascade of selling, further depressing prices.
  • Automated Trading: The prevalence of algorithmic and high-frequency trading in the crypto market can exacerbate volatility. These systems are programmed to execute trades at high speeds, and in times of rapid price movements, they can inadvertently contribute to market instability.
  • Regulatory Uncertainty: Shifting regulatory landscapes and the prospect of new rules can create uncertainty and prompt large-scale sell-offs as investors seek to mitigate risk.
  • Investor Sentiment: In a highly speculative market, shifts in investor sentiment can lead to rapid changes in market dynamics. Fear, uncertainty, and doubt (FUD) can quickly spread, triggering widespread panic and mass liquidations.
  • Long-Term Market Health: While liquidations are a short-term phenomenon, they raise important questions about the maturity and resilience of cryptocurrency markets. Addressing these challenges will be essential for fostering a stable environment that can support long-term innovation and growth.

Opinion-Driven Perspective: Navigating Volatility

From an op-ed standpoint, the recent surge in crypto crash liquidations should serve as both a cautionary tale and an opportunity for introspection within the industry. The volatility underscores the need for better risk management practices, more robust market infrastructure, and clearer regulatory frameworks that can mitigate extreme fluctuations. While the inherent risks of crypto remain, a more mature market will ultimately be one that can absorb shocks and emerge stronger. Investors, regulators, and exchanges alike must work together to create a more resilient ecosystem that balances innovation with stability.

Source: CoinSpeaker


6. Japan Approves Crypto Brokerage and Stablecoin Law Reforms

Regulatory Overhaul in the Land of the Rising Sun

In a landmark regulatory shift, Japan has approved significant reforms for crypto brokerages and stablecoins. This legislative overhaul marks a major step forward in Japan’s efforts to modernize its digital asset ecosystem and ensure robust consumer protection. By establishing clearer guidelines for crypto trading and stablecoin operations, the reforms aim to foster innovation while mitigating risks associated with market manipulation and fraud.

The new framework will regulate crypto brokerages more stringently, ensuring that they adhere to strict security protocols and compliance standards. Additionally, the stablecoin reforms are designed to enhance transparency and stability in digital currencies that are pegged to traditional assets. This regulatory clarity is expected to bolster investor confidence and attract more institutional participation in the crypto market.

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Strategic Considerations and Industry Impact

  • Enhanced Consumer Protection: The reforms place a strong emphasis on safeguarding investors by mandating higher security standards and rigorous compliance measures for crypto brokerages. This move is critical for maintaining public trust in the digital asset market.
  • Market Stability: By instituting robust regulations for stablecoins, Japan aims to reduce volatility and prevent market distortions that can arise from poorly managed digital currencies. Stablecoins play a vital role in facilitating transactions and maintaining liquidity, making their stability crucial for a healthy market.
  • Fostering Innovation: While the regulatory changes impose stricter oversight, they are also intended to create a more predictable and secure environment for innovation. Clear guidelines will help startups and established players alike to develop new products and services that leverage blockchain technology.
  • Global Competitiveness: Japan’s proactive stance on crypto regulation positions the country as a leader in the digital asset space. By balancing innovation with security, Japan sets a benchmark for other nations seeking to develop robust crypto ecosystems.

Op-Ed Reflections: A New Regulatory Paradigm

From an opinion-driven perspective, Japan’s regulatory reforms represent a significant evolution in the global crypto landscape. These measures acknowledge the transformative potential of blockchain and cryptocurrency while addressing the critical need for risk mitigation. As countries around the world grapple with how to regulate digital assets, Japan’s balanced approach may well serve as a model for harmonizing innovation with investor protection. The reforms are a clear signal that the future of crypto is not only about rapid growth but also about establishing sustainable, secure, and transparent market practices.

Source: Blockhead


7. Synthesis of Today’s Trends: Convergence, Innovation, and Risk

Connecting the Dots in a Dynamic Ecosystem

When we examine today’s headlines collectively, several key themes emerge that are reshaping the blockchain and cryptocurrency landscape:

  • Integration of Traditional and Digital Finance: The moves by Emirates NBD and BBVA illustrate a growing convergence between traditional banking and the digital asset economy. As financial institutions integrate crypto trading into their platforms, we see a seamless blend of conventional finance with innovative blockchain solutions.
  • National Strategies and Regulatory Evolution: From Japan’s sweeping reforms to Pakistan’s exploration of blockchain for remittances, countries are increasingly prioritizing digital sovereignty and innovation. Governments are enacting regulations that aim to protect consumers while fostering an environment conducive to technological advancement.
  • Market Volatility and Investor Caution: The recent surge in crypto crash liquidations serves as a reminder of the risks inherent in this fast-moving market. Despite the transformative potential of blockchain, volatility remains a significant challenge that must be managed through better risk controls and regulatory oversight.
  • Public Sector Transformation: The forecast that blockchain in government could reach a $791.5 billion market highlights the untapped potential for public sector applications. By leveraging blockchain for transparency, security, and efficiency, governments can revolutionize how public services are delivered.
  • Technological Innovation and Future Opportunities: Whether through the introduction of AI-powered tools or the development of new regulatory frameworks, the blockchain space is characterized by continuous innovation. These advancements are not only enhancing current applications but also paving the way for future breakthroughs in decentralized finance (DeFi), Web3, and NFTs.

Industry Implications and Strategic Insights

For investors, policymakers, and technology innovators, today’s news provides a roadmap of both opportunities and challenges. The convergence of traditional finance with blockchain technology opens up vast new markets, while regulatory innovations ensure that these markets evolve in a sustainable and secure manner. However, the persistent issue of market volatility reminds us that risk management must remain a top priority. In essence, the future of blockchain and cryptocurrency will depend on striking the right balance between fostering innovation and maintaining stability.

Source: Aggregated insights from all sources


8. Expert Opinions and Industry Voices

Perspectives from the Blockchain Frontier

To further illuminate the current state of the industry, we turn to insights from experts and thought leaders who are at the forefront of blockchain innovation:

  • On Integrating Traditional Finance with Crypto:
    “Emirates NBD and BBVA’s moves are significant because they demonstrate that traditional financial institutions are not only willing to experiment with crypto but are actively embracing it. This convergence is the key to mass adoption.”
    — Financial Analyst, The Paypers & CoinFomania

  • On National Blockchain Strategies:
    “Pakistan’s initiative to use blockchain for remittances is a visionary move that could redefine how emerging markets handle cross-border transactions. The potential for cost savings and enhanced security is enormous.”
    — Blockchain Strategist, TradingView (via CoinDesk)

  • On Regulatory Innovation:
    “Japan’s regulatory reforms for crypto brokerages and stablecoins set a global benchmark. Clear, consistent regulation is the foundation on which sustainable growth in the crypto space will be built.”
    — Regulatory Expert, Blockhead

  • On Market Volatility:
    “The recent surge in liquidations is a wake-up call for investors. While volatility is inherent in emerging markets, it also highlights the need for robust risk management practices and improved market infrastructure.”
    — Crypto Market Analyst, CoinSpeaker

  • On Public Sector Adoption:
    “The forecasted growth of blockchain in government sectors underscores an enormous opportunity. Governments that adopt blockchain effectively will not only increase transparency but also drive significant economic growth.”
    — Public Policy Advisor, CoinGeek

These expert voices underscore the multifaceted nature of today’s blockchain landscape and reinforce the idea that a balanced, strategic approach is essential for long-term success.

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9. Strategic Recommendations for Blockchain and Crypto Stakeholders

Charting a Path to a Secure and Innovative Future

Based on today’s developments and the insights of industry experts, several strategic imperatives emerge for stakeholders in the blockchain and cryptocurrency space:

  1. Embrace Integration: Financial institutions should continue to bridge the gap between traditional finance and digital assets. Integrated platforms not only enhance user experience but also foster a more diversified and resilient financial ecosystem.
  2. Prioritize Regulatory Compliance: As the industry evolves, staying ahead of regulatory changes is crucial. Companies must invest in robust compliance frameworks and work closely with regulators to ensure that innovation proceeds in a secure environment.
  3. Invest in Risk Management: Given the volatility inherent in cryptocurrency markets, developing and implementing sophisticated risk management strategies is essential. Leveraging advanced analytics and automated trading safeguards can help mitigate the impact of market downturns.
  4. Focus on Domestic Innovation: Nations should invest in developing indigenous blockchain solutions to reduce dependency on foreign technologies. This approach not only bolsters national security but also drives economic growth and technological sovereignty.
  5. Foster Public-Private Partnerships: Collaborative initiatives between governments, private companies, and academia can accelerate the adoption of blockchain technologies. Such partnerships are key to building scalable, secure, and innovative solutions.
  6. Enhance Investor Education: With the rapid pace of innovation, educating investors about the risks and opportunities in the crypto market is vital. Transparent communication and educational initiatives can help build a more informed investor base.
  7. Promote Global Collaboration: Cyber threats and market volatility know no borders. International collaboration on best practices, regulatory standards, and technological advancements will be essential for long-term success in the blockchain space.
  8. Leverage AI and Advanced Analytics: Incorporating AI-driven tools into blockchain applications can significantly enhance security, efficiency, and decision-making. Investment in these technologies will provide a competitive edge in an increasingly digital world.

By adopting these strategies, stakeholders can position themselves to navigate the challenges of today while capitalizing on the transformative opportunities that blockchain and cryptocurrency offer.

Source: Consolidated insights from all sources


10. Conclusion: Today’s Major Takeaways in Blockchain and Crypto

As we wrap up today’s briefing, the overarching narrative is clear: blockchain and cryptocurrency continue to evolve at a breathtaking pace, driving a convergence between traditional finance and digital innovation while presenting both unprecedented opportunities and significant challenges.

Emirates NBD’s launch of crypto trading on the LIV-X app and BBVA’s regulatory approval in Spain demonstrate that mainstream financial institutions are increasingly embracing digital assets, signaling a new era where the old and the new coexist seamlessly. Pakistan’s ambitious exploration of blockchain for multibillion-dollar remittances highlights the potential for blockchain to revolutionize global finance in emerging markets, while the forecast for blockchain in government—projected to reach $791.5 billion—reinforces the transformative impact of decentralized technology in public administration.

The recent surge in crypto crash liquidations, however, serves as a sobering reminder of the market’s inherent volatility, underscoring the need for robust risk management and investor education. And Japan’s groundbreaking regulatory reforms for crypto brokerages and stablecoins point to a future where clear, consistent policies pave the way for sustainable growth in the digital asset ecosystem.

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From an op-ed perspective, these stories collectively paint a picture of an industry in transition—a landscape where rapid innovation is balanced by cautious regulatory oversight and where strategic partnerships and technological integration are the keys to long-term success. The journey ahead will undoubtedly be challenging, but with the right mix of innovation, collaboration, and proactive risk management, the future of blockchain and cryptocurrency is brighter than ever.

As policymakers, investors, and innovators navigate this complex environment, the lessons of today will serve as a roadmap for building a secure, resilient, and inclusive digital economy. The convergence of blockchain with traditional financial systems, the drive for domestic innovation, and the evolution of regulatory frameworks are not just trends—they are the building blocks of a transformative future.

Thank you for joining us on this in-depth exploration of today’s blockchain and cryptocurrency developments. Stay informed, stay innovative, and let’s continue to shape the future of digital finance together.

The post Blocks & Headlines: Today in Blockchain – March 10, 2025 | Emirates NBD, BBVA, Pakistan Blockchain, Japan Crypto Reforms appeared first on News, Events, Advertising Options.

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