The fintech holding Robocash Group has just integrated its in-house P2P lending platform Robo.cash in Europe with its Singaporean company Robocash PTE. LTD. The latter will provide the European P2P investors with an opportunity to invest in the business development of the group in Southeast Asia. Moreover, this is the first opportunity in Europe to invest in Singapore through a P2P lending platform.
Robocash PTE. LTD. is a holding company, which has been active in Singapore since September 2015 supporting the management and servicing of the operating entities of Robocash Group in Southeast Asia. Now, it will be delivering its long-term commercial loans to the European platform Robo.cash to allow its users to invest in the development of the group in the region. Operating within the same financial holding, the companies will collaborate within the partnership with RC Riga. The latter is a special purpose vehicle providing secured financing to the companies of Robocash Group.
Remarkably, that also makes Robo.cash the first P2P lending platform in Europe providing an opportunity to invest in Singapore. Working according to a “peer-to-portfolio” model, the platform provides fully automated investing and collaborates with companies of the financial holding only. Today, Robo.cash has 9,200 registered users. The volume of attracted investments is now over 10.6 million USD. In return, it has provided financing for more than 146 million USD loans.
For the platform, it is not the first integration with an affiliated entity from Southeast Asia. It already cooperates with companies of Robocash Group in the Philippines and Vietnam. However, the Singaporean company will be the first to provide commercial loans for a period of 12 months. Moreover, as Robocash PTE. LTD., Robo.cash and RC Riga all belong to the same financial group, investments of the platform will be secured by the group guarantee and negative pledge of Robocash PTE. LTD. assets.
Commenting on the integration, Founder & CEO of Robocash Group added: “Until the launch of the P2P lending platform in Europe, we were bootstrapping our growth at the use of our own funds and retained earnings. In almost three years in operation, Robo.cash has proven its efficiency and become an important financial tool for us. In this sense, the integration of our company in Singapore with the platform is a strategic step forward. As the company provides management and servicing of the group’s business in Southeast Asia, this integration will significantly accelerate our development in the region. Within the next 6 months, we expect to raise 5 million USD. The attracted funds will not only support the development of our companies, but also facilitate financial inclusion in the region.”
Cryptocurrency Market Report 2020: Technology, Applications and Implementation for Financial Services
TCS Positioned as a Leader in Capital Markets Operations by Everest Group
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix™ for Capital Markets Operations1.
In an assessment of 24 global service providers offering capital markets operations services, TCS was placed highest for Vision and Capability, as well as Market Impact. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores.
TCS’ strong position in the overall capital markets segment is attributed to consistent growth in its portfolio with multiple new wins. According to the report, the company has continuously worked on creating solutions backed with the latest technology to help its customers solve operational problems more efficiently. It mentions TCS BaNCS™ Cloud for Asset Servicing that automates the servicing of multiple asset classes across custodians, brokerages, asset managers, and investment banks. The report also highlighted a successful POC where TCS powered the world’s first cross-border securities settlement between two central depositories using Quartz™ Blockchain.
“With growing competition in the capital markets segment, customer preference for digital channels, and increasingly complex regulations, financial institutions are banking on innovative use of technology to stay ahead,” said K Krithivasan, Business Group Head, Banking, Financial Services and Insurance, TCS. “This recognition from an independent third-party research firm is a testament to our vision, capabilities, services offered, and market impact.”
TCS offers a comprehensive portfolio of services in the capital markets domain. Its customers include over 85 buy and sell side firms as well as market infrastructure firms and custodians. TCS’ in-depth domain solutions cover all functions and include:
- Front Office: Research and analytics, channel management support, para planning for wealth management customers
- Middle Office: Post trade processes including trade affirmation / confirmation, pricing and valuation, portfolio accounting and reconciliations
- Back Office: Settlements, reconciliation and fails management accounting including fund accounting, fund administration, and transfer agency
Guided by its Business 4.0TM thought leadership framework and the Machine First™ Delivery Model (MFDM™), TCS has made steady investments and developed frameworks, point solutions and showcases. These include the wealth and retirement platform on TCS BaNCS, a wealth advisory solution, robo advisor and event fusion solution, conversational agents powered TCS’ proprietary tool Conversa™, interactive customer reporting, X code, and distributed ledger technologies for corporate actions, among other blockchain, robotic process automation, platform modernization-based frameworks.
“In an environment shaped by changing user preferences and pressure from fintechs, it has become critical for financial institutions to connect their front- and back-office functions seamlessly,” said Manu Agarwal, Practice Director, BFS Business Process Services, Everest Group. “Supported by strong operational expertise and digital offerings, TCS enables its customers to deliver this superior experience.”
“Our rich experience in capital market services, regulatory knowledge, innovative offerings backed by the latest digital technologies, and deep contextual knowledge places us in a strong position to deliver exponential value to our capital markets customers,” added Krithivasan.
SOURCE Tata Consultancy Services
Huobi Token (HT) Reaches New High Amid Increased Adoption and Ongoing Ecosystem Development
Huobi Global today announced that Huobi Token (HT) has reached a new 12-month high amid the continued growth and development of the whole ecosystem. As of yesterday, HT was trading at a token price of $5.27 USD, a 92% increase since the close of 2019 – and nearly a 5X increase compared to this time last year.
As the native token of digital asset exchange Huobi Global, HT’s new milestone underscores the recent progress of Huobi’s global ecosystem. Last month, Huobi Global and Huobi DM experienced a strong start to 2020 with a 65% month-over-month spike in aggregate trading volume.
Huobi has also transitioned from quarterly to monthly token burns, which are based on a percentage of Huobi Global and Huobi DM’s revenues for each corresponding period. For Huobi’s first monthly burn, 4.057 million HT were repurchased and destroyed in January, which has a current market value of $21.4 million USD. A total of 45.838 million tokens have been burned to date.
“2020 is a pivotal year for Huobi as we enter new global markets and continue expanding our product line-up for both institutional and retail audiences,” said Ciara Sun, Vice President of Global Business at Huobi Group. “HT is a foundational part of the Huobi ecosystem, so we are deeply committed to its success.”
HT Product Roadmap
As part of a longer-term strategic roadmap for HT, Huobi has a number of upcoming initiatives planned that aims to further increase the token’s utility for the broader blockchain and crypto community.
Huobi DM’s new Perpetual Contract product, which is currently undergoing internal testing and nearing public launch, will be incorporated into the HT Token Burn Program. HT will also play an integral role in the ecosystem of Huobi Chain, a regulator-friendly financial blockchain that’s slated for testnet launch in the near future.
Additional features in development include HT margin trading with up to 2X leverage, which is expected to launch in March, and collateralized HT for peer-to-peer crypto lending and pledged loan contract assets.
HT Ecosystem Adoption
To further expand HT’s utility beyond the Huobi ecosystem, Huobi is accelerating efforts to integrate with third-party partners, including international credit cards, digital bank cards, blue-chip technology companies, and global entrepreneurship centers.
HT was recently accepted as a payment option for charitable donations to Project HOPE, a global nonprofit organization that has been providing health development and emergency relief since 1958. Last month, Huobi partnered with a leading crypto-friendly hotel booking platform to integrate HT as a preferred payment method on Travala.com.
SOURCE Huobi Group
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