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DeFi Technologies Provides Monthly Corporate Update: Subsidiary Valour Reports Assets Under Management at C$748 Million, Up 47.2% This Fiscal Year, Bolstered by Strong Net Inflows of C$6.6 Million, Among Other Key Developments

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DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI)(GR: RB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi“), is pleased to announce that its subsidiary, Valour Inc., and Valour Digital Securities Limited (together, “Valour“), a leading issuer of exchange traded products (“ETPs“) that provide simplified access to digital assets, reports assets under management (“AUM“) of C$748 million as of May 7, 2024. This figure represents a significant year-on-year increase of 47.2%.

Despite a decrease from March’s AUM of C$880 million due to a downturn in digital asset prices since March 2024, the Company and Valour’s strategic initiatives continue to drive substantial growth. Notably, despite a significant fall in digital asset markets during April, with Solana down 37% over the period, Valour’s AUM was only 22% lower at the end of the month, buoyed by a strong net inflow of C$6.6 million.

Q1 2024 Financials: The Company would also like to announce that the Q1 2024 financials will be available after market close on May 15, 2024, with an announcement of a shareholder call to follow.

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Strategic Expansion and New Trading Desk in UAE: Valour has launched a new trading desk in the United Arab Emirates, marking a strategic expansion into the Middle East. This move leverages the UAE’s progressive regulatory framework and high cryptocurrency adoption rate. It represents a critical step in Valour’s ongoing strategy to make ETPs globally accessible and to broaden its product offerings, aiming to tap into the region’s dynamic financial landscape.

Innovative Bitcoin ETPs in Collaboration with the Core Foundation: In collaboration with the Core Foundation, DeFi Technologies and Valour announced plans for new innovative ETPs, including the first-of-its-kind Yield Bearing BTC ETP, and a novel Core ETP, leveraging the unique features of the Core Chain. Additionally, Valour will manage a validator node on the Core Blockchain and plans to stake US$100 million in BTC. This integration of blockchain technology with traditional financial strategies represents a pioneering approach to Bitcoin investment, offering actively yielding opportunities within the digital asset space.

Short Spot Bitcoin ETP: The launch of the first Short Spot Bitcoin ETP in the Nordics, known as Valour Short Bitcoin (SBTC) SEK (ISIN: CH1149139649), now trading on the Nordic Growth Market, provides experienced investors with strategic opportunities to profit from or hedge against Bitcoin’s price movements.

“We are very encouraged by the strong year-on-year growth of our AUM, which reflects the sustained demand for our innovative ETP products and trust from our investors,” said Olivier Roussy Newton, CEO of DeFi Technologies. “Our strategic expansions and the introduction of groundbreaking products this month underscore our commitment to providing secure, diversified, and accessible digital asset investment options. We are excited about our future prospects and remain dedicated to advancing our position in the digital asset space.”

The post DeFi Technologies Provides Monthly Corporate Update: Subsidiary Valour Reports Assets Under Management at C$748 Million, Up 47.2% This Fiscal Year, Bolstered by Strong Net Inflows of C$6.6 Million, Among Other Key Developments appeared first on HIPTHER Alerts.

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Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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