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European B2B Wealthtech Allfunds Set to List on Euronext Amsterdam Stock Exchange

Madrid-based Allfunds, a B2B Wealthtech solution provider, will reportedy be listing on the Euronext Amsterdam stock exchange.

Allfunds has developed a comprehensive ecosystem that aims to cover the complete fund distribution value chain and related investment cycles, including through Allfunds Connect, which is a suite of software-as-a-service or SaaS-powered digital, data and analytics software tools.

Allfunds had more than €1.2 trillion of assets under administration, as of December 2020. The company reports around €370 million in turnover and about €263 million adjusted Ebitda. The group also reports a growth rate of 13% during the last 3 months.

Allfunds has hired BNP Paribas, Credit Suisse Securities, Citigroup Global Markets and Morgan Stanley Europe as its joint bookrunner, for this latest offering, which includes a private placement of 25% of the firm’s outstanding shares that are held by LHC3, BNP Paribas and Credit Suisse.

Although  AllFunds won’t be getting any proceeds from the sale, the firm thinks that the listing could potentially provide access to diversified sources of financing and enhance its profile and general brand awareness.

Juan Alcaraz, founder and CEO of Allfunds, stated:

“We have built an ecosystem that covers the entire fund distribution value chain and investment cycle, integrated into a simple one-stop-shop for our clients. This listing provides us with the flexibility to accelerate the digital transformation of the wealth management industry and the growth of our best-in-class global platform.”

Allfunds may expand it business operations into other regions where it maintains a relatively smaller market presence, including in Asian and North American markets.

Allfunds, which claims to be the largest fund platform and world leader in the wealthtech space, recently launched a new mobile app for its digital eco-system Connect.

As mentioned in a company blog post:

“With the Connect App users will be able to track funds, manage portfolios wherever they are and never miss a critical alert. Users will be able to access information on their funds or adjust their portfolios at any time.”

Some other notable functions include:

  • Search, analyze, compare and monitor, from more than 200,000 funds at ETFs
  • Set-up and “access multiple alerts”
  • Stay “on top of watchlists that track funds”
  • Manage and “maintain control of portfolios accessing performance, risk, asset allocation and transactions”
  • With the Connect mobile app, users “leverage the power of Allfunds to manage funds and portfolios anytime, anywhere.”

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Paysafe Seeks US Market Expansion With Coinbase Partnership

Paysafe has sealed a partnership with cryptocurrency exchange Coinbase, as it seeks market expansion in the U.S. Paysafe owns and maintains popular digital wallet Skrill.

Skrill Digital Wallet For US Customers

According to the partnership terms, Coinbase will provide a white label solution for Skrill to aid the digital wallet’s growth in the United States. This will see customers from over 30 US states and territories trade cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Litecoin with their digital wallet.

Head of Institutional Trading at Coinbase, Brett Tejpaul, said:

“As we focus on building the crypto-economy, we look to partner with leaders like Skrill who can white-label our turnkey solution to provide and support digital assets to their clients without having to learn the nuances of building a crypto exchange.”

Following the announcement, the payments company said the expansion program would commence immediately. Skrill says it will look into strengthening its digital wallet’s features for the American consumer.

Skrill had previously launched its Skrill Visa Prepaid Card. It also brought to market Skrill Money Transfer remittance solution and Skrill Knect loyalty and rewards program.

Coinbase Adds Another Feather To Its Cap

Coinbase has had a prosperous year so far. The company, which is reportedly eyeing an initial public offering (IPO), is worth more than $100 billion.

Brain Armstrong, who is the company CEO and co-founder, has successfully navigated the crypto exchange into occupying the enviable position of being the largest Bitcoin exchange in the United States.

Rising institutional demand following crypto upsurge has seen Coinbase become the ultimate destination for companies seeking exposure to the volatile asset class.

Coinbase has high-value clients like intelligence company MicroStrategy, electric car company Tesla, and recently added Chinese tech company Meitu to its list.

Aside from giving exposure to cryptocurrencies, Coinbase has been adding many crypto projects to its platform. In a March 19 post, Coinbase announced that it was adding ADA to its platform. The announcement that quickly propelled the proof-of-stake blockchain protocol to the third position will see Coinbase facilitate buying and selling Cardano’s ADA.

The San Francisco firm also said it is preparing to build a business presence in India. The company said it would initially house IT services, including engineering, software development, and customer support.

New hires will work from home before a physical office is opened in the engineering hub of Hyderabad, subject to the covid-19 protocols.

For now, the company has not posted any vacancy on Coinbase India’s career page.

Paysafe Seeks US Market Expansion With Coinbase Partnership

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#StopAsianHate: Indiegogo Stands Against AAPI Hate Crimes and Discrimination

Over the last year, there has been a sharp increase in hate crimes and racist attacks against Asians and Pacific Islanders. Through December 2020, Stop AAPI Hate received more than 2,800 reports of racism and discrimination, and that figure fails to account for the attacks that have taken place since the beginning of the year. 

Attacks like the murder of Vichar Ratanapakdee, an 84-year-old immigrant from Thailand who was violently killed in San Francisco, the slashing of Noel Quintana, a 61-year-old man who was disfigured on the NYC Subway, and thousands of other racially motivated incidents against Asians and Pacific Islanders.

Indiegogo condemns these attacks, which are targeted in particular at our senior citizens. We reject bigotry, hatred, and racism in all forms, and stand in solidarity with Stop AAPI Hate and the AAPI community. 

“Indiegogo’s mission is to elevate a diverse global community of inventors, creators, and entrepreneurs, and all the backers that support them. We strive to be a birthplace for ideas and innovations that bring a positive change in the world, and we cannot do that effectively without ensuring that all people are safe and all voices are heard.” —Andy Yang, Indiegogo CEO

We acknowledge the existence of structural racism and the ways in which it has poisoned all aspects of our society. We work to educate our internal team and the rest of Indiegogo community on fighting white supremacy and discrimination toward Asians and Pacific Islanders, and increase Asian representation in the crowdfunding community. We commit to creating and sharing anti-racism resources and content, and strive to end the Model Minority Myth as it fails to take into the account the true history and struggles of the Asian and Pacific Islander community. To start, we will be donating 100% of the revenue raised from our March 15, 2021 newsletter to Stop AAPI Hate, an organization that works to bring justice and raise awareness of the many issues facing the Asian and Pacific Islander community.

There are a number of ways to get educated, get involved, and be an ally for justice. Below are some resources to get started.

Asian-American Creators and Entrepreneurs To Support

Organizations to Support and How to Donate

Stop AAPI Hate 

“In response to the alarming escalation in xenophobia and bigotry resulting from the COVID-19 pandemic, the Asian Pacific Planning and Policy Council (A3PCON), Chinese for Affirmative Action (CAA), and the Asian American Studies Department of San Francisco State University launched the Stop AAPI Hate reporting center on March 19, 2020. The center tracks and responds to incidents of hate, violence, harassment, discrimination, shunning, and child bullying against Asian Americans and Pacific Islanders in the United States. Our approach recognizes that in order to effectively address anti-Asian racism we must work to end all forms of structural racism leveled at Black, Indigenous, and other communities of color.”

Donate to Stop AAPI Hate 

AAPI Community Fund (GoFundMe)

“Together, it is our responsibility to condemn these violent acts and create lasting social change. We must amplify AAPI voices and find ways to uplift, empower, and protect the AAPI community. The Support the AAPI Community Fund aims to do just that, addressing the urgent issues that face the AAPI community as well as broader, systemic problems. With the donations received through the Fund, GoFundMe.org will issue grants to trusted AAPI organizations working to rectify the racial inequalities in our society.”

Donate to the AAPI Community Fund

#HATEISAVIRUS Movement

“Hate Is A Virus is a nonprofit community of mobilizers and amplifiers that exists to dismantle racism and hate. We started as a movement in April 2020 in response to the rise in hate crimes against AAPI due to the pandemic. Over that past year, we raised $30k+ to help a host of essential, BIPOC community organizations across the nation such as (Act to Change, Kollaboration, Laos in the House, Arts Administrators of Color) and ran two virtual educational events featuring guests like Sandra Oh, Baron Davis, Apolo Ohno, Mirai Nagasu, and more. This year, Hate Is A Virus continues to amplify, educate and activate AAPI to stand for justice and equality in solidarity with other communities.”

Donate to the #HATEISAVIRUS Movement 

Stand Against Hatred Campaign: Asian Americans Advancing Justice

“Asian Americans Advancing Justice is a national affiliation of five leading organizations advocating for the civil and human rights of Asian Americans and other underserved communities to promote a fair and equitable society for all. The affiliation’s members are: Advancing Justice – AAJC (Washington, D.C.), Advancing Justice – Los Angeles, Advancing Justice – Atlanta, Advancing Justice – Asian Law Caucus (San Francisco), and Advancing Justice – Chicago.”

Report incidents to the Stand Against Hatred Campaign

Social Media Posts, Articles, and Literature We Found Educational

Treating Yellow Peril: Resources to Address Coronavirus Racism compiled by Dr. Oliver Chang 

Eva Chen’s LIVE conversation with @cathyyan @amandangocnguyen and @heymichellelee

Asian Pacific American (APA) reading list compiled by Asian & Middle Eastern Studies Librarian Casey Lee

Hypebae: Nine initiatives standing up to anti-Asian violence

Harper’s Bazaar: What is the #StopAsianHate Campaign?

A crowdsourced map detailing where and when anti-Asian racism has taken place based on user-submitted reports 

Asian American Feminist Collective Zine: Care in the Time of Coronavirus Issue

We will continue adding to this list of resources and links regularly. We are also putting out a call for submissions for stories and campaigns we can amplify and share on our social media channels and blog. If you have a story or valuable resource you’d like us to share, we hope you’ll leave us a comment on FB, Instagram, and Twitter, or send us a note. We’re in this fight to stop Asian hate together.

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Bitcoin price rally to $61,800 shows BTC bulls are in full control

On March 13 bulls took full control of the crypto market as Bitcoin (BTC) price vaulted to a new all-time high at $61,844 after a high volume surge pushed the price through overhead resistance near $58,000.  

Analysts had spent the week calling for an eventual move above the $60,000 level and social metrics showed bullish sentiment for Bitcoin continued to increase as a number of companies and institutional investors announced plans to make BTC purchases. 

BTC/USDT 4-hour chart. Source: TradingView

Bitcoin now finds itself in the realm of price discovery as there is limited data available from a technical analysis standpoint to determine where the price may go next.

One possible price target was highlighted in a recent report from Decentrader co-founder Philip Swift, who is now looking at the 1.618 fib extension ($70,000) as the next take profit level.

Mainstream crypto adoption continues

Evidence of the growing merger between the cryptocurrency sector and mainstream industry can be found in the most recent news that FTX  exchange is in the process of finalizing a deal to sponsor the National Basketball Association’s Miami Heat and obtain the naming rights for the teams’ arena, which will likely be renamed FTX arena.

Once finalized, the deal would mark the first major partnership with an American sports league for a cryptocurrency project or platform.

The explosion in the popularity of nonfungible tokens has also caught the attention of the mainstream press following this week’s record-breaking $69.3 million Beeple auction.  The success of the action has prompted an increasing number of well-known artists to begin exploring the NFT space and the opportunities it offers.

Bitcoin breakout sparks rally in altcoins

Altcoins also lit up as Bitcoin soared to a new all-time high. Decentraland (MANA), a virtual reality and gaming-focused project, outperformed the field with an 89% gain to a price of $1.19.

Daily cryptocurrency market performance. Source: Coin360

The majority of small-cap altcoins witnessed double-digit gains and even larger-cap coins like AAVE and Bitcoin Cash (BCH) surged 10.84% and 14% respectively.

Ether (ETH) also rallied 13% to $1,933 as bulls attempt to make a run at the current all-time high of $2,043

The overall cryptocurrency market cap now stands at $1.84 trillion and Bitcoin’s dominance rate is 62.1%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin price rally to $61,800 shows BTC bulls are in full control

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The Financial Technology Association Launches Backed By Big Names, Seeks to Advocate on Behalf of Fintech

A new trade group has been launched to advocate on behalf of the Fintech industry. Today, the Financial Technology Association (FTA), is hoping to educate stakeholders and support the modernization of financial regulation. Founding members of the group are Afterpay, Betterment, Brex, Carta, Figure, Marqeta, Quadpay, Plaid, Ribbit Capital, Wise, and Zest AI.

In a release, FTA said it believes the successful integration of Fintech solutions in the American financial system starts with the adoption of national policies that recognize the importance of responsible innovation and encompass a coherent vision on key priorities.

Daniel Gorfine, FTA Senior Policy Advisor, stated:

“Technology-driven innovation is transforming the way we offer, access, and benefit from financial services and markets in the United States. This organization will focus on proactively shaping regulations, policy frameworks, and public understanding in order to safeguard consumers and advance the development of trusted, digital financial markets and services.”

Milan Dalal, FTA Senior Government Relations Advisor, added that they look forward to engaging with the new administration and Congress to help solve outstanding financial services challenges faced by many Americans:

“The Fintech industry has an important story to tell and looks forward to working with policymakers to protect consumers and advance responsible innovation.”

As part of the new organization’s launch, it has issued an introductory paper entitled Shaping the Future of Finance.

FTA’s introductory paper seeks to show that Fintech companies are improving efficiency and transparency, broadening equity, access and inclusion, reducing costs, and increasing choice for consumers and businesses.

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