Blockchain Press Releases
Rönesans Holding Spearheads Construction of 286km Electric Railway in Southern Turkiye, Boosting UK-Turkiye Export and Sustainable Transportation
ISTANBUL, Aug. 16, 2023 /PRNewswire/ — Rönesans Holding announces its commitment to the construction of a transformative 286km electric railway network in southern Turkiye, connecting major cities through a high-speed, low-carbon route. This landmark project, authorised by the Turkish Ministry of Transport, will not only bolster international relations and the volume of export between Turkiye and the UK but also contribute significantly to the region’s economic growth and environmental sustainability.
Operating at speeds of up to 200 km/h, this high-speed rail link will reduce travel time from Gaziantep to Mersin from six hours to two hours – the second largest container port in Turkiye and a thriving city of over one million people – by four hours, with the improved transportation connectivity expected to generate a significant economic boost to the area.
With a presence in over 30 countries and a successful track record of delivering more than €40bn of complex and large-scale infrastructure projects worldwide, with over 70% of its revenues generated from international business outside Turkiye, Rönesans Holding brings a wealth of expertise and experience to this ambitious railway endeavour. The project is the latest in the company’s long history of successful strategic partnerships from all around the world, having worked with partners and shareholders including Government of Singapore Investment Corporation (GIC), Meridiam, a Paris-based infrastructure fund, Japanese trading house Sojitz Corporation, and International Finance Corporation (IFC), of the World Bank Group which is a shareholder in Rönesans, and Samsung CT, among others.
Leveraging its global network of over 30,000 professionals, the company is well-positioned to implement the cutting-edge solutions and innovative technologies needed to construct and operate a high-speed electrified railway in an area known to experience seismic activity.
Dr. Erman Ilıcak, President of Rönesans Holding, expressed his enthusiasm for the project, stating, “This railway line is a hugely exciting development for southern Turkiye and will also see Rönesans strengthen its relationships with key UK suppliers. We are delighted to be appointed to the project, and to work together with such prolific UK businesses to bring this high-speed electrified railway to life. This truly collaborative project will not only enhance our relationship with UK exporters, it will also revolutionise rail links in Turkiye, significantly enhancing the region’s industrial connectivity and trade while actively reducing negative environmental impact.”
The financing for this project has been supported by the UK government’s export credit agency, UK Export Finance (UKEF), which has underwritten €781m of funding (equivalent to £680m) of the €923 million total project financing. The loan was provided by a number of global financial institutions, including JP Morgan, ING, and BNP Paribas. This pan-European deal also includes involvement from Italian and Austrian export credit agencies, SACE and OeKB, who will be providing the necessary reinsurance to secure the project for Turkish rail infrastructure.
UKEF’s support for the railway project opens new multimillion-pound export contract opportunities for collaboration between UK suppliers and Rönesans Group. Discussions are already underway to negotiate contracts for essential components, including signalling equipment, ESG consultancy services, and mechanical components. The project’s success is aligned with the growth in national production and construction outputs experienced this year, promising even greater prospects for UK exporters.
This ambitious railway project will play a crucial role in Turkiye’s efforts to achieve its environmental goals and increase high-speed railway coverage in the country to 10,000km. Spanning a distance greater than that between Cardiff and London, the railway will enable faster and more efficient travel, benefitting regional infrastructure and growth. It will also establish strategic connections with airports, ports, and industrial zones in the hinterlands, including many major cities like Adana and Gaziantep, as well as larger cities in Southeastern Anatolia such as Hatay, Diyarbakır, and Şanlıurfa, and also Central Anatolia.
The electric railway will replace the current diesel locomotive-operated railway, providing a lower-carbon and more sustainable alternative between Mersin and Gaziantep. Project forecasts indicate that the completed route will save an impressive 157,000 tonnes in CO2e emissions in its first year alone. By reducing travel time and increasing the usage of railways, it will alleviate traffic congestion and accidents on highways, while promoting a much more sustainable transportation system by reducing carbon emissions.
The project also plays a significant part in the wider reconstruction efforts following the devastating twin earthquakes that struck Turkiye in February 2023. By contributing to the rebuilding of Gaziantep, Osmaniye, and other areas severely impacted by the disaster, the railway will aid in the region’s recovery and growth. Under the leadership of Dr. Erman Ilıcak, the President, and İpek Ilıcak Kayaalp, the Chairperson of the Board of Directors, this is of particular importance to Rönesans, who played a key role in the disaster relief efforts, and remain committed to the cause collaborating with UNICEF and UNFPA on active projects to aid the areas and people affected.
Rönesans Holding is dedicated to fostering sustainable and innovative transportation solutions, and this high-speed electrified railway is a testament to its commitment to environmental stewardship and economic progress.
About Rönesans Holding
Rönesans Holding, headquartered in Ankara, is the 24th largest international contracting company globally and the 8th largest in Europe with international operations in 30 countries across Europe, Central Asia, the Middle East and Africa – including Ballast Nedam in the Netherlands and Heitkamp in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years across construction, real estate development, energy, healthcare and industrial facilities. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women’s Empowerment Principles since 2016.
Along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung, and IFC, of the World Bank Group (minority shareholder in the group), Rönesans has invested more than EUR7 billion into pioneering projects in Türkiye.
Ceren Yüksel, +905382540053, [email protected]
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Blockchain Press Releases
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
About Webb
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
Noteworthy Features
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
What’s Next?
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Whitepaper: Read here.
- Get Started: PolkadotApps for Tangle Network
- Documentation: docs.webb.tools
Get Involved
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
Contact Us
For media inquiries, partnerships, or more information, email us at [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/webb-unveils-tangle-network-testnet-pioneering-the-future-of-private-decentralized-applications-301940846.html
Blockchain Press Releases
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
About ChainUp
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
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SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
About BingX
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
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