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Blockchain Press Releases

NORDEN reports net profit of USD 108 million in Q2 2023 and continues to return cash to shareholders

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COPENHAGEN, Denmark, Aug. 10, 2023 /PRNewswire/ — For Q2 2023, NORDEN reports a profit of USD 108 million (approx. DKK 740 million). For the first half of 2023 net profit amounted to USD 258 million (approx. DKK 1.8 billion).

Cash flow from operating activities in Q2 amounted to USD 201 million (approx. DKK 1.4 billion). For the first half of 2023, cash flow from operating activities amounted to USD 347 million (approx. DKK 2.4 billion).

Return on equity (annualised) was 30% at the end of Q2 and was 36% for the first half of 2023.

Based on year-to-date net income of USD 258 million and high cover for the rest of the year, NORDEN narrows its guidance range to a full-year net profit of USD 360-420 million (previously USD 330–430 million).

NORDEN CEO, Jan Rindbo, comments:

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“NORDEN generated USD 108 million profit for Q2 based on strong earnings in both business units. A dedicated focus on customer freight services in volatile markets ensured profitable margins across both dry cargo and tankers, despite weaker market sentiment. In addition, we have delivered high cover earnings and vessel sales gains through active management of our portfolio. NORDEN continues to generate significant cash returns to our shareholders with an interim dividend of DKK 10 per share and a share buy-back programme of USD 30 million.”

The Board of Directors has reviewed the Company’s capital structure and approved the payment of interim dividend, see article 16 in the Company’s Articles of Association. The interim dividend amounts to DKK 10 per share of DKK 1, in total DKK 340,000,000 (approx. USD 50 million) and is in line with NORDEN’s dividend policy of returning a minimum of 50% of the annual profit.

Dividend will be paid through VP Securities based on shareholdings registered in VP Securities on 14 August 2023 after close of trading on Nasdaq Copenhagen. In the systems of Nasdaq Copenhagen, NORDEN shares will trade cum interim dividend up to and including the trading day of 10 August 2023. Shares traded in the systems of Nasdaq Copenhagen from and including the trading day of 11 August 2023 will be traded ex interim dividend. Dividend will expectedly be available in the shareholders’ accounts on 15 August 2023.

Starting today, NORDEN will also initiate a USD 30 million share buy-back programme. For details, please see separate announcement.

Kind regards,
Dampskibsselskabet NORDEN A/S

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Klaus Nyborg
Chair

For further information:
Stig Frederiksen, Head of Investor Relations, tel.: +45 32 71 08 55, e-mail: [email protected]

The following files are available for download:

 

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Blockchain Press Releases

Instant Nodes arrives in the USA with Global Payments Giant, Paddle Partnership

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DUBAI, UAE, Sept. 11, 2024 /PRNewswire/ — Instant Nodes is thrilled to announce an exciting new partnership with global payment giant, Paddle. This collaboration marks a significant milestone for both companies as both firms join forces to deliver unparalleled on-ramp and off-ramp solutions to the USA market and beyond.

As a leader in blockchain and decentralised solutions, Instant Nodes has strived to provide innovative and efficient services to our customers. Now, with the integration of Paddle, we are set to revolutionise how our services are delivered and monetised.

Why Paddle?

Paddle’s comprehensive platform is designed to handle all aspects of global payments complexity, from subscription management to payment processing. Their expertise in managing complex billing scenarios and ensuring smooth transactions aligns perfectly with our vision at Instant Nodes.

Instant Nodes can leverage Paddle’s technology and tax compliance solutions to streamline operations, enhance customer satisfaction, and develop cutting-edge blockchain solutions.

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The Benefits of Our Partnership

This partnership is poised to bring numerous benefits to our clients. With Paddle’s seamless payment infrastructure, Instant Nodes can offer more flexible and efficient billing options, making it easier for clients to access and pay for our services.

Paddle’s robust analytics and reporting tools will provide us with valuable insights into our revenue streams, enabling us to make data-driven decisions to further improve our offerings.

A Word from Our Leaders

Ilgar Alekperov, Founder of Instant Nodes, shared his excitement:

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Partnering with Paddle is a game-changer for us. Their advanced payments infrastructure platform will not only simplify our billing processes and tax compliance but also enhance our overall service delivery. We believe this collaboration will drive significant growth and allow us to better serve our clients with innovative blockchain solutions.

Dylan Yepes at Paddle also commented:

“We are delighted to partner with Instant Nodes, a company that is at the forefront of blockchain innovation. Our platform is designed to handle the complexities of global payments and billing, and we are confident that Instant Nodes’ customers will greatly benefit from the streamlined processes and enhanced payment experiences we offer.”

To start deploying nodes, visit https://instantnodes.io/

About Instant Nodes 
Instant Nodes is an RPC solution which is focused on building data integrity in digital assets blockchains.

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X: https://x.com/InstantNodes | Linkedin: https://www.linkedin.com/company/instantnodes/

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Blockchain Press Releases

Velo Labs Brings BlackRock’s Tokenized Short-Term Treasury Fund to Southeast Asia

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SINGAPORE, Sept. 11, 2024 /PRNewswire/ — Velo Labs, a global pioneer in Web3-based financial solutions, today announced that the assets that back Velo’s USDV token, the stablecoin of the Velo ecosystem, are now comprised of an investment in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize. USDV serves as the primary store of value and unit of transfer across Velo’s suite of payment and trading applications.

Over 1 million Velo’s Orbit payment app users and vendors across Southeast Asia leverage USDV for seamless transactions, value storage without a bank account, cross-border money transfers, and off-ramping to local currencies at local banks 24/7 – all while earning yield on-chain. Additionally, Velo’s FX, commodity, and crypto traders on its Universe exchange and DeFi protocol Velo Finance can earn yield on funds held on the exchange and have the opportunity to compound those returns via various Velo liquidity pools and staking programs.

Today’s announcement follows Velo’s recent partnership with the Laos government to tokenize its physical gold reserves. Velo is rapidly establishing itself as a leading provider of blockchain-powered payments, trading, and RWA asset offerings across Asia.

Velo Labs co-chairman Chatchaval Jiaravanon commented: “Velo Labs is very pleased to bring BlackRock’s high-quality institutional yield product to Southeast Asia. At Velo, we are building the bridges and rails that will ensure frictionless, borderless, and formless payment and trading experiences for both institutional and retail users across Asia. Today’s announcement demonstrates our commitment to bringing Velo users access to the highest-quality institutional assets in the world.”

Securitize co-founder and President Jamie Finn added “This is a great example of a firm leveraging open web3 standards to deliver a product to their market”

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About Velo Labs

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by the Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive

Web3-based payment network, along with Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide—dedicated to empowering global financial connectivity and expanding accessibility globally. Follow us for more info: Twitter / Telegram

About Securitize

Securitize, the leader in tokenizing real-world assets, is driving the compliant digitization of financial assets through next-generation blockchain technology. Securitize, or through its subsidiaries, is a registered broker-dealer (member Finra/ SIPC) and operates a primary marketplace, an alternative trading system, as well as a top 10 transfer agent and has an exempt reporting adviser. Learn more at http://www.securitize.io

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Blockchain Press Releases

HTX Ventures invest in BSX, Building DeFi Infrastructure on Base

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SINGAPORE, Sept. 11, 2024 /PRNewswire/ — HTX Ventures, the global investment arm of the cryptocurrency exchange HTX, has announced a strategic investment in BSX Exchange, a decentralized, non-custodial central limit order book (CLOB) perpetual decentralized exchange built on Base.

Since its launch in April, BSX has facilitated over $4.5 billion in trading volume and recently surpassed $1.3 million in revenue. Its current offerings include both spot and derivative trading. With the recent $4 million seed-round funding, BSX plans to expand its product line further. The platform boasts a highly performant trading engine with 10ms latency and 1000x leverage. 

In the coming months, BSX aims to launch several new projects, including a spot aggregator, earning products, and staking products. Additionally, the company plans to introduce a Layer 3 network on Base to optimize the on-chain BSX order book. Looking ahead, BSX also intends to release its own trading game on Telegram and an exclusive NFT collection to attract new users to both Base and BSX.

“BSX operates on top of the Base ecosystem, leveraging its 110 million globally verified users. By providing a strong liquidity foundation for this ecosystem, BSX is poised for significant success,” commented Edward, Managing Partner at HTX Ventures. “BSX serves a large traditional finance customer base, and at HTX Ventures, we are excited to support this Web3 onboarding journey.”

“We’re focused on building a key lego block in the DeFi ecosystem. By launching on Coinbase’s Base L2 we are a key beneficiary of Coinbase’s massive user base moving on-chain to Base and then to DeFi applications. Our vision is to build a consolidated platform including BSX Trade, BSX Earn, and BSX 1000.” Said BSX Team.

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About BSX

BSX is a decentralized derivatives trading platform built on Base. BSX offers perpetuals trading at 1000x leverage and also a spot market. The firm is backed by Blockchain Capital and the Base Ecosystem Fund and is advised by Athur Hayes.

About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.

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Feel free to contact us for investment and collaboration at [email protected]

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