Blockchain
Koin Rewards & Fidel bring loyalty and card-linking together to reward meaningful behaviours for the greater good
Ethical rewards platform enables merchants to reward customers for sustainable shopping using Fidel’s card linking API
17th July 2019, London: Having just announced their Seedrs crowdfunding campaign, Koin Rewards, the ethical rewards platform built on the blockchain, today announces that it has partnered with card linking API Fidel to build a responsible and sustainable rewards programme for shoppers.
Koin Rewards is working with Fidel to build a community of merchants and members based upon shared ethical behaviours. Koin Rewards is using Fidel’s PCI-compliant card linking API to enable merchants to automatically reward their customers for shopping responsibly and sustainably.
Koin Rewards’ members can quickly and easily connect their Mastercard, Visa or Amex card to their Koin Rewards account using Fidel’s API technology. Every time they shop at a participating merchant, they will automatically earn and be notified of rewards.
Curt Hopkins, CEO, from Koin Rewards, says “Our ambition for Koin Rewards is to offer a truly global loyalty programme, which is why our relationship with Fidel is so exciting. With Fidel we are able to onboard any merchant that accepts Visa and Mastercard payments, welcoming them to our community of merchants committed to driving change for the greater good. In working with Fidel, we have developed an alliance of shared ambitions, which is of significant importance as we seek to do the same for merchants and our members, matching them together based upon their shared values that encourage responsible consumption and production.”
Sina Saidinayer, Head of Business Development at Fidel, said: “We are delighted to be powering Koin Rewards to build a card-linked loyalty programme that rewards sustainable and responsible shopping. Fidel’s vision is to democratise access to financial data globally, so we’re proud to support such an innovative project that drives real value back to customers.”
With their platform in private beta, Koin Rewards is now running a crowdfunding campaign. If you are interested in finding out more about this campaign, you can register for exclusive access on Seedrs: https://koinrewards.seedrs.com.
About Koin Rewards
Koin Rewards is a fintech company, reimagining loyalty through responsible shopping and tokenisation. Koin Rewards exists to encourage more meaningful behaviours. We believe greater recognition should be given to the people that drive positive change for the good of humanity, nature and the environment. That’s why we provide an ecosystem that not only matches our members with merchants that share the same values but also puts them in control of the rewards they earn through the Koin digital currency.
https://www.koinrewards.io
https://twitter.com/koin_rewards
https://www.linkedin.com/company/koinrewards
About Fidel
Fidel makes transactional data accessible through a single access point so businesses can create web and mobile applications using real time payment data. By linking customer payment cards to reward programs, businesses like Avios Perkbox and TopCashback are turning payments into loyalty. Fidel is backed by the UK government’s Technology Strategy Board (Innovate UK) and Horizons Ventures.
https://www.fidel.uk
https://twitter.com/fidelhq
https://www.linkedin.com/company/fidel-api
Source: RealWire
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
-
Blockchain4 days ago
Open-Source Intelligence (OSINT) Market is expected to reach a revenue of USD 64.9 Bn by 2033, at 25.6% CAGR: Dimension Market Research
-
Blockchain3 days ago
Blockchain Transforming Travel: Quantum Temple’s Innovative Venture
-
Blockchain Press Releases2 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain3 days ago
Evolution of the Blockchain World: Doric Blockchain Drives Education and Adoption of Blockchain Technology and Tokenization in Latin America
-
Blockchain1 day ago
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
-
Blockchain3 days ago
Bybit and World Leaders Forge Major Alliance to Direct Web3 for Social Good
-
Blockchain1 day ago
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
-
Blockchain Press Releases1 day ago
Canaan Shines at Blockchain Life 2024 in Dubai