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Aleph unveils Aleph Payments: simplifying cross-border payments and credit underwriting starting with the digital ad tech ecosystem

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LONDON, Aug. 16, 2023 /PRNewswire/ — Aleph, the leading global enabler of digital advertising connecting 22,000 advertisers in 130 primarily emerging countries with the world’s leading digital tech platforms such as TikTok, X (formerly Twitter), Snap, Spotify, Uber, Meta, Microsoft, Twitch, Google and over 35 more, is launching their global cross-border payments and credit underwriting unit, Aleph Payments.

The global digital advertising spend is expected to reach $766 billion by 2025 according to eMarketer. At the same time, global remittance and cross border payments transaction value is estimated to grow from $37.15 trillion in 2020 to $39.99 trillion in 2026 according to Frost & Sullivan. Over the past 19 years, Aleph has been providing credit underwriting and cross border payment offerings to advertisers and digital ad tech platforms building a robust capability. Aleph currently manages over $2bn worth of total cross border credit and payments through its network across international markets, and it is a trusted operator for its partners and clients. Aleph’s proven reputation and expertise in primarily emerging markets provides the business with a solid foundation to roll out its payment service to new partners and clients.

Gaston Taratuta, Aleph’s CEO and Founder and EY’s 2022 Entrepreneur of the World explains: “We have built our company with the capability to adapt to the ever changing needs of the digital industry. 

We will expand our cross border payment and credit underwriting capabilities into other subcategories within the digital advertising ecosystem such as SSP’s, DMP’s, DSP’s, ad-quality, viewability, ad-serving tech, apps, gaming, etc. We are local market experts who can solve the complexities so global ad tech companies can focus on their core businesses, and local advertisers can finance their ad tech needs.

We will also amplify our services to our current global partners such as Spotify, Uber, Meta, and new ones, expanding from our current services in digital advertising to allow cross border payment of streaming, mobility, and digital services commerce, among other categories.

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Finally, over 5,000 of Aleph’s current digital-native advertisers, who are striving to connect with global consumers, could potentially become customers by leveraging the capabilities of Aleph Payments.”

Aleph will be presenting at DMEXCO in Cologne, DE September 20-21, 2023.

For more information, visit payments.alephholding.com 

About Aleph

Aleph Group, Inc is a dynamic network of global digital experts and technology-driven solutions that enables the growth of the digital ecosystem. We connect thousands of advertisers with billions of consumers and create markets for local businesses to grow. Aleph is active in more than 130 primarily emerging countries and helps advertisers engage with consumers on over 45 of the world’s leading digital platforms, such as TikTok, X (formerly Twitter), Snap, Spotify, Uber, Meta, Microsoft, Twitch and Google.

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We build and supply proprietary technologies with localized solutions, offering local teams of industry and platform experts, as well as Digital Ad Expert, a social initiative to provide free digital advertising education for all. Our newest offering, Aleph Payments, is a leading cross-border payment enabler and credit underwriter in primarily emerging countries with an end-to-end payment solution to reach consumers on the world’s leading digital platforms. Together, these solutions widen access to the digital ecosystem and ultimately work towards our purpose, to equalize the global digital playing field. 

Aleph was established in 2005 and continues to be led by its founding CEO, Gaston Taratuta, EY Entrepreneur of the Year 2022, with a vision to accelerate the global economic shift from offline to online and drive long-term economic growth. Aleph’s approach has been highly successful to date. In recent years, the Group has scaled up to more than 1,500 employees in 65+ offices and has secured investment from institutional partners including CVC Partners, Mercado Libre, Sony, Twitter, and Snap.

 

 

View original content:https://www.prnewswire.co.uk/news-releases/aleph-unveils-aleph-payments-simplifying-cross-border-payments-and-credit-underwriting-starting-with-the-digital-ad-tech-ecosystem-301902283.html

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Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations

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Brazil to Enhance Scrutiny on Foreign Crypto Exchanges

Brazil’s Receita Federal is set to intensify oversight of foreign digital asset exchanges operating within the country, aiming to strengthen regulation and transparency in this rapidly growing sector. The national tax authority plans to collect operational data from platforms such as Binance, Coinbase, and Kraken, despite the absence of a comprehensive regulatory framework for cryptocurrencies in Brazil.

Tightened Oversight on Foreign Crypto Exchanges
As digital asset popularity surges in Brazil, the government is taking steps to understand and regulate the activities of international cryptocurrency exchanges. A mandate, expected to be issued this week, will require these platforms to disclose their operational methodologies and customer service practices within the region. The focus of Brazilian tax authorities is to ensure compliance with local tax laws and anti-money laundering regulations.

Surge in Digital Asset Usage
The decision comes amidst a significant increase in digital asset usage in Brazil, with reported crypto holdings by Brazilians reaching 133.6 billion reais ($24.6 billion) from January to July 2023—a 36.6% increase from the previous year. This heightened scrutiny is vital as the government pushes for greater transparency while still developing a concrete regulatory framework, expected to be proposed by the end of 2024.

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Receita Federal to Audit International Crypto Platforms
Andrea Chaves, Deputy Secretary of Inspection at the Receita Federal, emphasized the importance of this initiative. The government aims to ensure that these exchanges comply with tax obligations and do not engage in illegal activities. Additionally, they seek to confirm that services offered to Brazilian customers are fully legal, addressing concerns that some platforms might bypass local regulations, leading to unreported revenue and facilitating illicit financial flows.

Wagner Lima, a risk management coordinator at the Revenue Service, highlighted the need to examine partnerships between foreign exchanges and local service providers. This scrutiny ensures adherence to a 2019 regulation mandating information sharing, crucial for maintaining the integrity of Brazil’s financial systems.

Upcoming Ordinance Requirements
The forthcoming ordinance will require exchanges to provide detailed information about their operations, excluding customer-specific data and transactional details to comply with current Brazilian laws. The 51.2% increase in declared holdings through foreign exchanges from the previous year underscores the growing importance of these platforms in the local market.

Source: coingape.com

The post Brazil Tax Department to Scrutinize Foreign Crypto Exchange Operations appeared first on HIPTHER Alerts.

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