Bahrain-based software development company Rsquare Technologies and Singapore-based venture accelerator Startup Accelerator have signed a Memorandum of Understanding (MoU) to promote cooperation in FinTech and other emerging technologies while fostering innovation and startup growth.
The agreement aims to develop a collaborative startup ecosystem between Bahrain, Singapore and India, where Startup Accelerator also has a presence. As well as seeing Rsquare become Startup Accelerator’s non-exclusive partner in Bahrain, and Startup Accelerator promoting Rsquare’s products and services to its partners and clients in Singapore and India, the agreement includes building startup incubators in Singapore and Bahrain.
Bahraini startups in Singapore will benefit from Startup Accelerator’s active mentoring model as well as a world-class ecosystem, government support and access to Asian markets. Likewise, Singaporean startups in Bahrain will enjoy the Kingdom’s ever-strengthening ecosystem, which boasts operating costs up to 40% lower than its neighbours as well as one of the region’s most highly skilled labour forces and some of the most advanced soft infrastructure in MENA. Sitting at the nexus of the Middle East, the Kingdom also offers a convenient springboard into the wider region, including its largest market opportunity – Saudi Arabia.
The agreement builds upon strong 30-year diplomatic ties between Bahrain and Singapore, and follows closely on from the Bahrain Economic Development Board (EDB) – the Kingdom’s investment promotion agency – announcing a fast-track setup process for Singaporean businesses and startups earlier this year. Both nations and their regulators – the Central Bank of Bahrain (CBB) and the Monetary Authority of Singapore (MAS) – are already close collaborators in the fields of innovative technologies and their regulation – particularly FinTech. The CBB and the MAS are both members of the Global Financial Innovation Network, where they are specifically collaborating on digital shares and security trading.
In 2018, the CBB and the MAS signed an MoU to support the sharing of information on emerging FinTech trends and developments and to facilitate co-operation on innovation projects. It also set out a common framework to help FinTech companies prepare for regulatory requirements in both countries. Bahrain FinTech Bay, the leading FinTech hub in MENA is part of the global FinTech Consortium – as is Singapore FinTech Bay.
Ms. Shanthini Rahamathullah, Founder, Chairperson & CEO, Rsquare Technologies said: “This new partnership is an incredible opportunity for Bahraini and Singaporean startups. Both ecosystems have so much to offer, and through mutual cooperation and the sharing of best practices we’ll be able to support innovative businesses to attract investment, grow and scale across our respective regions and beyond.”
Dr Anand Govindaluri, Founder & Director, Startup Accelerator said: “Singapore has one of the most supportive and established startup ecosystems in the world. We are always looking for new markets with a focus on internationalisation and digitalisation in new economies. With our focus on Emerging Technologies, IoT, Blockchain, Bahrain was an obvious choice for accessing the hugely exciting MENA region, and within that Rsquare is a natural partner for this journey. The signing of this MoU was just the first of many steps to come.”
SOURCE Startup Accelerator and Rsquare Technologies
OKEx Launches OKB Ecosystem Monthly Report: Expands 5 C2C Markets and 36 New Use Cases
On Dec 10 2019, the world leading crypto exchange OKEx launched OKB Ecosystem Monthly Report. According to the report, OKB ecosystem made great progress mainly on two aspects: transaction and new use cases expanding.
OKB is newly listed on five C2C exchanges covering major countries and areas recently. In addition to that, the number of OKB new use cases reached 36, including 11 platform-empowered use cases and 25 external use cases.
Besides, through a buy-back & burn scheme and the token economy model, OKB is now ranked among the top 20 global cryptocurrencies by market capitalization with approx. USD110 million daily average trading volume in C2C market.
Now, OKB is being turned into a global token. Thus, to occupy the C2C market, the first step for users to get into crypto world is crucial. OKB is now on OKEx C2C market, accounting for approx. USD110 million daily average trading volume from tens of thousands of users.
Besides, OKB is also listed on ALINIEX, Bvnex, two major C2C exchanges in Vietnam and Bitsonic, Probit, two major C2C exchanges in South Korea.
Apart from expanding transaction methods, OKB also made huge improvement in expanding use cases. The report shows that the number of OKB platform-empowered use cases has increased to 11 and teamed up with 25 partners to build the OKB ecosystem, which means, OKB is not only a token based on OKEx, the native token on the soon-released OKChain and OKDEx and the only accepted token for OKEx jumpstart, but also expanded to other industries, like network security (Slowmist, Beosin, Certik), finance service (13 platforms including LinkEye, Molecular Future, etc.) and lifestyle (9 platforms including Tripio, BitTorrent, etc.)
For example, OKB holders can book their stay at 450,000+ hotels worldwide with OKB on Tripio, the world’s first decentralized travel booking marketplace based on blockchain.
At the end of the report, it also disclosed some details of OKChain and OKDEx. OKChain is currently at the final development stage and its testnet will be launched soon. As the first Defi application OKDEx will also be available on OKChain by that time.
ANSYS Accelerates Electronic Product Design And Signoff For Global Custom ASIC Leader
Global Unichip Corp. (GUC), the global custom application-specific integrated circuit (ASIC) leader, has adopted ANSYS (NASDAQ: ANSS) to support its unmatched combination of advanced technology, low-power and embedded CPU design capabilities.
Providing advanced ASIC services that meet the needs of today’s innovative technology enterprises requires a fast introduction, timely resolution to customer problems and successful signoff. GUC selected ANSYS® RedHawk-SC™ to support the significant needs of its customers by effectively executing designs with more than one billion device instances and completing the full-chip systems-on-chip (SoC) power integrity and reliability signoff in less than two days.
ANSYS RedHawk-SC is built on ANSYS® SeaScape™ — the world’s first custom-designed, big data architecture for electronic system design and simulation. ANSYS SeaScape features big data architecture for electronic system design and simulation and provides elastic compute scalability to enable rapid design iteration, increased scenario coverage and greater accuracy for full-chip SoC signoff for advanced nodes. ANSYS RedHawk-SC’s actionable analytics provide designers with key insights to prioritize design fixes and enable easy viewing and querying of large design databases in minutes for faster debugging. Efficient hardware utilization makes the platform ideally suited for high-performance computing, artificial intelligence and datacenter applications.
“GUC is committed to providing world-class custom ASICs to help elevate prospective systems and integrated circuit (IC) companies’ market-leading positions,” said Louis Lin, senior vice president, GUC. “As IC manufacturing processes become more complex, there are more elements to simulate and compute during chip design and verification to ensure reliability and minimize power loss. ANSYS helps us minimize this complexity, speed our time to market and reduce development costs. Our partnership with ANSYS has been a cornerstone in helping our clients succeed in the IC market.”
“As a custom ASIC leader, GUC requires cutting-edge solutions for fast and accurate results,” said John Lee, vice president and general manager, semiconductor business unit at ANSYS. “RedHawk-SC meets the market’s unique needs for addressing multiphysics challenges — we are seeing an influx of customers deploying RedHawk-SC for the most complex product and design signoff.”
SOURCE ANSYS, Inc.
The first global, stabilised, digital currency controlled by its holders, SAGA (SGA) lists on global cryptocurrency exchange Liquid
Global cryptocurrency platform “Liquid.com” today announced that it is the first exchange to list Saga token (SGA) for secondary trading.
SGA is the first global, stabilised, digital currency controlled by its holders and will allow global citizens to store and move value without friction across borders. It complements existing national currencies and offers a store of value outside the remit of national government and banking structures.
In order for SGA to serve as a global currency, it is fully backed by a strong basket of national currencies that replicate the International Monetary Fund’s SDR. Based on the SGA’s market movements, measured by the number of tokens issued, the Saga monetary model will gradually diminish reliance on the reserve as users’ confidence in SGA grows. Together, these measures are designed and implemented to reduce price volatility while allowing SGA to grow beyond a simple fiat-backed / pegged stablecoin.
SGA holders will also be the masters of the currency and, as a result, they will govern the Saga economy through a variety of voting mechanisms, designed to facilitate genuine representation of participants – balancing between identity and stake – and to generate long-term success for the currency. Holders will have to undergo an online Know Your Customer (KYC) process that ensures compliance within Anti-Money Laundering (AML) standards while maintaining their privacy.
The Saga token will initially be traded against the USD, Bitcoin and Ethereum, while more trading pairs are expected in the future.
“After in-depth conversations with our advisors and months of carrying out our own market research, we decided that Liquid is the ideal exchange partner for Saga. Liquid is one of the largest and most reputable cryptocurrency exchanges, offering customers a secure way to trade and hold SGA,” said Saga Founder Ido Sadeh Man. “Listing SGA on Liquid is an important milestone in bringing the Saga token to market.”
“We are delighted to offer Liquid customers the opportunity to buy and trade SGA. We believe SGA offers our traders an interesting opportunity as we see great value in Saga’s approach of replicating the mechanics of central bank national currencies and applying them on a global scale,” said Liquid’s CEO and co-founder, Mike Kayamori. “At Liquid, our core values are transparency and compliance, and as these are two key properties of SGA, a partnership between Liquid and Saga was a natural match.”
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