Blockchain
C3 Rules and HyperRisk Solutions Forge Strategic Alliance to Transform Cryptoasset Compliance
In a dynamic shift within the finance sector, traditional banking institutions are increasingly investing in a variety of cryptoasset exposures, including stablecoins, tokenized assets, ETF products, and cryptocurrencies. However, the Basel III framework tempers this forward thrust, requiring substantial capital reserves against investments that fail to meet exacting standards, alongside rigorous evaluations, and detailed submissions for regulatory scrutiny. To address these challenges, C3 Rules, a leading developer of cryptoasset compliance solutions, has teamed up with HyperRisk Solutions, a leader in regulatory technology software. Their joint effort integrates C3 Rules’ cryptoasset classification and compliance reporting solution with HyperRisk Solutions’ RiskGuard software, creating a comprehensive system for cryptoasset capital calculations.
This integration promises transparency and efficiency in cryptoasset exposure classification and capital calculations, meeting the Basel Committee’s new cryptoasset capital and prudential standards. It offers a modular approach to compliance management, allowing seamless integration with existing risk management infrastructures or complete overhauls for advanced cryptoasset classification services.
The partnership targets a global userbase of banks and financial institutions. HyperRisk Solutions‘ RiskGuard software is widely used in Southeast Europe, counting eleven leading banks and financial institutions as its clients. The enhanced offering, available world-wide and a global first, will bolster their position in financial innovation and risk management. Markets more advanced in the adoption of regulation, such as Hong Kong, Singapore, and Switzerland, will likely benefit first.
Ben Stolman, CEO at C3 Rules, expressed his enthusiasm about the partnership, stating: “This strategic alliance with HyperRisk Solutions is a game-changer for the financial industry. By combining our cutting-edge cryptoasset classification system with HyperRisk’s robust capital calculation engine, we are setting new standards in risk management and regulatory compliance for banks with cryptoasset exposures.”
Aleksa Jorga, a partner at HyperRisk Solutions, states: “We are excited to start on a partnership with C3 Rules, with its bold and innovative approach to crypto regtech. The classification tool is an organic fit for our RiskGuard suite and prepares us for a future in which cryptoassets may be integrated into the mainstream banking industry. RiskGuard evolved with the Basel framework, with a track record of 15 years, so we are anticipating the next market move.”
Andrew Fei, a partner at law firm King & Wood Mallesons who regularly advises clients on digital assets and Basel standards, observes: “The Basel cryptoasset standards are important because they tell banks how much capital they need to hold against their cryptoasset exposures. The Basel standards require banks to classify each of their cryptoasset exposures into one of four tightly-defined categories, fully document their classification decisions with supporting evidence, and make these available to their banking regulators for review. This is a significant compliance undertaking for banks. Against this backdrop, regtech solutions have the potential to significantly alleviate banks’ compliance burden.”
The post C3 Rules and HyperRisk Solutions Forge Strategic Alliance to Transform Cryptoasset Compliance appeared first on HIPTHER Alerts.
Blockchain
Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group)
Blockchain technology and cryptocurrency continue to redefine industries worldwide, driving innovation and creating new opportunities. In today’s edition of “Blocks & Headlines,” we explore major developments across the blockchain space, highlighting new projects, partnerships, and emerging trends.
Blockchain as a Catalyst for Innovation
The blockchain industry’s transformative potential was the focus of a recent report detailing how decentralized technologies are driving innovation in finance, healthcare, and supply chain management. Blockchain’s transparency and immutability are key factors enabling its adoption across diverse sectors.
In particular, the report noted the technology’s ability to enhance trust and efficiency in processes, reducing costs while improving security.
Analysis: Blockchain’s role as a catalyst for innovation is becoming more evident as industries beyond finance embrace its capabilities. The growing interest underscores the need for continued research and development to unlock its full potential.
Source: Cape Gazette
EVIANCX Enhances Cryptocurrency Usage in Latin America
EVIANCX, a leading blockchain platform, has announced new initiatives aimed at increasing cryptocurrency adoption in Latin America. The company is rolling out solutions to address challenges such as accessibility and education, targeting both businesses and individual users.
By simplifying blockchain technology and expanding infrastructure, EVIANCX seeks to empower communities and drive financial inclusion across the region.
Analysis: Latin America’s growing interest in cryptocurrency is fueled by its potential to address issues such as inflation and limited access to traditional banking services. EVIANCX’s initiatives could significantly enhance the region’s blockchain ecosystem.
Source: GlobeNewswire
Abstract: A Consumer Blockchain for the Masses
The launch of Abstract, a highly anticipated consumer-focused blockchain, marks a significant step toward making cryptocurrency more accessible. Abstract aims to simplify blockchain use cases, offering tools and applications designed for everyday users.
By prioritizing user experience and scalability, Abstract is positioning itself as a gateway for mainstream adoption of blockchain technology.
Analysis: Abstract’s approach to consumer-centric blockchain solutions highlights the industry’s shift toward usability and mass appeal. Simplifying complex systems is crucial for bridging the gap between blockchain enthusiasts and the general public.
Source: PR Newswire
Venice Launches VVV Token to Bridge Blockchain and AI
Venice, a pioneering blockchain project, has unveiled the VVV Token, designed to integrate blockchain with artificial intelligence. The token facilitates data exchange between AI systems and decentralized networks, promising advancements in predictive analytics, automation, and decision-making.
The initiative also includes partnerships with tech companies focused on AI and machine learning, ensuring robust support for the token’s ecosystem.
Analysis: Venice’s innovative fusion of blockchain and AI represents a significant trend in tech convergence. By combining these technologies, the project aims to unlock new possibilities for intelligent, decentralized systems.
Source: CoinSpeaker
KPMG India Partners with Hashgraph Group to Drive Blockchain Adoption
KPMG in India has teamed up with the Hashgraph Group to promote enterprise adoption of Hedera’s distributed ledger technology (DLT). The partnership will focus on delivering blockchain solutions tailored to industries such as finance, healthcare, and supply chain management.
This collaboration aims to leverage Hedera’s high-performance DLT to address scalability and efficiency challenges faced by enterprises.
Analysis: Partnerships like this highlight the growing interest in enterprise-grade blockchain solutions. By collaborating with established firms, blockchain projects can accelerate adoption and address real-world business needs.
Source: PR Newswire
Key Trends and Insights
- Consumer-Centric Blockchain: The launch of Abstract underscores the importance of user-friendly solutions in driving mainstream adoption of blockchain technology.
- Blockchain-AI Convergence: Projects like Venice’s VVV Token highlight the potential of integrating blockchain with artificial intelligence to create smarter, more efficient systems.
- Regional Focus: EVIANCX’s initiatives in Latin America demonstrate the growing importance of localized blockchain solutions that address specific regional challenges.
- Enterprise Collaboration: Partnerships such as KPMG India’s collaboration with Hashgraph Group emphasize the role of established enterprises in accelerating blockchain adoption.
- Broader Adoption: Blockchain’s application across industries continues to expand, showcasing its versatility and potential to drive innovation beyond cryptocurrency.
The post Blocks & Headlines: Today in Blockchain – January 28, 2025 (EVIANCX, Abstract, Venice, KPMG, Hashgraph Group) appeared first on News, Events, Advertising Options.
Bybit Fintech FZE
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