Blockchain
Chinese and Asia-Pacific companies dominate the top 10 in KPMG and H2 Ventures 2019 Fintech100
Chinese and Asia-Pacific companies made a strong showing in the top 10 of the 2019 Fintech100 report from KPMG International’s global Fintech practice and fintech investment firm H2 Ventures.
As in 2018, this year’s list showed payments and transaction companies dominating, representing 26 of the ranked companies. This was followed by wealth companies (20), insurance companies (17) and lending companies (15).
China had three companies in the top 10 this year, with a total of seven companies in the ‘Top 50’ and three in the ‘Emerging 50’.
Two India-based companies also featured in the top 10, as did two companies from the US and one from the UK (see the complete top 10 ranking below).
Ian Pollari, Global Co-leader for KPMG’s Fintech practice and a partner with KPMG Australia said: “Globally, we have seen a rise in companies from across Asia-Pacific (including China) which represent the top six, and seven of the top 10 fintech companies in 2019, with China again securing the most top-ten positions.
“In 2019, we have also seen the emergence of India as a fintech force, taking two of the top positions and with seven companies in this year’s list in total,” he added.
Chris Wang, Partner, Head of Fintech, KPMG China, said: “As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors. Also, we can see an increase in the number of fintech companies from Hong Kong on the list following a series of efforts by the Hong Kong Monetary Authority to facilitate the development of the fintech ecosystem in Hong Kong. With the competitive advantages of leading fintech companies from Shenzhen and increasing cooperation and interactions among fintech companies in the region, the Greater Bay Area is becoming an important fintech hub in China and undoubtedly has key role to play in the continuous transformation of financial services.”
Overall, the Asia-Pacific region dominated the top 10 for another year with five companies in the ranking. Ant Financial (China) ranked first for the second year running, followed by Grab (Singapore) and JD Digits (China). Coming in fourth was Indonesia-based GoJek. China-based Du Xiaoman Financial took sixth.
Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, noted: “The annual Fintech 100 champions innovation and innovators. Having led the rankings for the past three years and again securing the most top ten positions on the List in 2019, we see that China remains strong in this field. Additionally, we see a significant increase in venture capital backing of fintech companies; leading fintech players are attracting a greater share of capital from significant venture investors in fintech companies and strategic investors.”
2019 Fintech100 – Top 10:
- Ant Financial (China) is the world’s largest third-party payments platform.
- Grab (Singapore) uses data and technology to improve everything from transportation to payments across a region of more than 620 million people.
- JD Digits (China) is a digital technology company, dedicated to providing digital, online and offline all-scenario services around three key points: data, user and connectivity. It uses emerging technologies such as big data, AI, cloud computing, blockchain and IoT.
- GoJek (Indonesia) a multi-services platform with more than 20 services including Gopay, Gobills, Gopoints, Paylater, and Gopulsa serving millions of users in Southeast Asia.
- Paytm (India) is the largest digital payments company in India with more than 380 million registered users and 12 million merchants on-board its Paytm platform.
- Du Xiaoman Financial (China) provides short-term loan and investment services.
- Compass (United States) is a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow.
- Ola (India) off the back of its ridesharing user base Ola Money is making payments easier and simpler.
- Opendoor (United States) makes it possible to receive an offer on a home in just a few clicks, and sell in a matter of days, removing the headaches, uncertainties, and risks from the transaction.
- Oaknorth (United Kingdom) specializes in small-and-medium-enterprise lending using its proprietary data and technology platform.
Many fintechs are also benefiting from being at the forefront of several key trends, the report found.
Globalization
According to market analysis, an increasing number of fintechs are rapidly globalizing across multiple jurisdictions, such as Australia’s AfterPay Touch, Brazil-based Nubank, Germany-based Kreditech Holdings, and Spain’s Bnext.
Monoline to mainstream
Early fintech innovators with monoline product propositions are now diversifying to fulfil a greater set of mainstream customer needs.
Open banking
A number of companies, such as China’s Ant Financial and India’s Open, are benefiting from the global policy shift to open banking, which is driving competition and allowing fintechs to access customer banking data to create faster, more personalized and innovative services.
SOURCE KPMG
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
-
Blockchain4 days agoBinance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance
-
Blockchain4 days ago
Deep Custodian Limited Obtains Hong Kong TCSP License, Authorized to Provide Compliant Crypto Asset Custody Services
-
Blockchain Press Releases2 days agoBybit Web3 Livestream Explores Cultural Meme Coins and Other Trends
-
Blockchain2 days ago
Blockchain Intelligence Group adds additional modules and launches its Certified Cryptocurrency Investigator – Advanced Series
-
Blockchain Press Releases2 days agoBybit Surges to Second Place in Derivatives Market, Solidifying Position as Global Crypto Trading Leader
-
Blockchain3 days agoBitAngels Network Hosts Blockchain Pitch Competition in Nashville
-
Blockchain4 days agoCoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events
-
Blockchain5 days agoWOO X and OpenTrade Enhance RWA Earn Vaults with Flexible Withdrawals
