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Voyager To Acquire Circle Invest Retail Digital Asset Business From Circle Internet Financial

Vlad Poptamas

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Photo source: kryptomoney.com

 

Voyager Digital Canada, Ltd. (“Voyager” or the “Company”) (CSE:VYGR; OTCQB:VYGVF; FRA:UCD2), operator of U.S. digital asset broker Voyager and the Ethos Universal Wallet, today announced it has entered into a definitive agreement to acquire Circle Invest, the retail digital asset business from Circle Internet Financial, Inc. This transaction adds more than 40,000 retail accounts to Voyager’s customer base, making it one of the largest digital-asset-only agency brokers in the U.S., servicing over 200,000 global users across its platforms. The majority of Circle Invest customers are expected to be converted to the Voyager Platform by the end of March of this year.

“This product line acquisition signifies a tremendous development for Voyager as we welcome a substantial number of new users to our platform,” said Stephen Ehrlich, Co-Founder and CEO of Voyager. “This transaction also helps us deliver on our promise to investors, providing regulated brokerage services and resources to as many users as possible in the digital asset marketplace. Going forward, we remain committed to building best-in-class features for the Voyager Platform to empower investors and bring into the mainstream the most revolutionary asset class to date.”

The acquisition gives Circle Invest customers access to expanded digital assets and new robust investment and trading features from the Voyager suite of products and services. Additionally, Voyager will be integrating features of Circle’s new stablecoin platform service into the Voyager Platform.

Circle Invest’s retail customers will now also have access to Voyager’s unique brokerage services, which include commission-free trading of more than 30 crypto assets, lock-up free interest yield on popular coins, digital transfers, secure omnibus custody wallets and portfolio management tools such as limit orders, news and alerts. Circle Invest’s popular “collections” feature, which allows customers to buy baskets of assets grouped by their attributes and weighted according to their market capitalization, will now be integrated into the Voyager Platform. With this feature, investors utilizing Voyager can gain exposure to the best-performing asset class of the last decade, while maintaining a diversified digital portfolio.

“We’re very happy to be able to provide Circle Invest customers with a broader depth of retail investment features through the transaction with Voyager,” said Rachel Mayer, Director of Product Management at Circle. “This transition comes at a time when Circle is launching new platform services and products for businesses around the world to help them bring the benefits of stablecoins into their products and grow global commerce in new and innovative ways.”

As part of the transaction, Circle and Voyager will partner on strategic business initiatives, such as delivering fast, global, low-cost payments to the combined Voyager customer base. In addition, Voyager will leverage Circle’s USDC and platform products to solidify its treasury management infrastructure and expand internationally.

“Through this partnership, we can each maintain focus on our core missions and better execute on our shared vision of bringing blockchain technology and crypto assets to the masses,” added Mr. Ehrlich. “We look forward to integrating all of the Circle stablecoin platform services into our service offerings to better serve our customers.”

As consideration for the transaction, Voyager will issue common shares to Circle representing an approximate 4% ownership stake in the Company, post-closing, and reimbursement of certain costs incurred by Circle.

 

SOURCE Voyager Digital

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Blockchain

Cryptocurrency Market Report 2020: Technology, Applications and Implementation for Financial Services

GlobeNewswire

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Blockchain

TCS Positioned as a Leader in Capital Markets Operations by Everest Group

Vlad Poptamas

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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

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Blockchain

Huobi Token (HT) Reaches New High Amid Increased Adoption and Ongoing Ecosystem Development

Vlad Poptamas

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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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