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Arf launches transactional stablecoin-based working capital credit line for MSBs worldwide

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Arf, the first compliant cross-border payment network running on stablecoins, announced the upcoming launch of its innovative product, Arf CreditArf Credit will provide an instant working capital credit line for MSBs worldwide.

Traditionally, when a money service business (MSB) wants to send money from one country to another, it has to prefund the same amount in the receiving country, bringing about tied capital, high opportunity cost, and operational inefficiencies. What’s more, since cross-border transactions are often considered risky, access to credit has always been a major problem for MSBs.

Designed to empower licensed MSBs all over the world, the soon-to-be-launched Arf Credit emerged as an idea when Arf co-founders noticed that most MSBs had issues with high prefunding requirements and limited access to working capital.

Co-Founder Kazım Rıfat Özyılmaz says MSBs have been underserved players of the finance industry, especially in accessing working capital. “Of course, the industry must manage risks—but it also has to find innovative ways to enable the growth of cross-border transactions,” he underlines.

“The real problem with the current cross-border payments industry is that when you’re successful as an MSB, you need more money to run it,” says Co-Founder and CEO Ali Erhat Nalbant. “We developed Arf Credit as an API-based, transactional short-term working capital in USDC so that MSBs can use stablecoins without prefunding.”

Although options existed, most lenders only served customers with long-term credit needs or single payout corridors. Application processes were lengthy, and once the credit was given, it had to be repaid regardless of whether it was used.

Co-Founder Berhan Kongel says that licensed MSBs can instantly get the credit with a 2-7 day repayment period. “Each eligible MSB is assigned a certain amount of credit based on its transactional volumes within the Arf Network. They only pay interest for the credit amount used, and can automate repayments,” he explains.

“We are really excited to be a key player in enabling the cross-border payments industry to compliantly benefit from the blockchain and digital assets,” Ali Erhat Nalbant says. “It was a much needed improvement in global payments.”

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Blockchain

Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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