Credit/Debit Card Top-Up for Singapore MCO Visa Card is Now Available 25612

Crypto.com, the pioneering payments and cryptocurrency platform, is introducing SGD direct top-up for MCO Visa Cards in Singapore. A frequently requested feature, cardholders can now fund their MCO Visa Card with credit/debit cards, in addition to topping up from their Crypto Wallet.

Users can top up their MCO Visa Cards with no fees using debit cards and a 1% processing fee (based on the top up amount) will be applicable for top up using credit cards. Users can top up their MCO Visa card now by following these instructions.

Note: Requires app version iOS 3.40/ Android 3.40 or higher

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 205+ strong team. For more information, please visit www.crypto.com.

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TAAL Reports Third Quarter and Nine-Month 2020 Financial Results & Announces Chris Naprawa as Interim CFO 3817

TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) (“TAAL” or the “Company”) a blockchain infrastructure and service provider, today announced its financial results for the three and nine months ended September 30, 2020 (“Q3-2020”). The Q3-2020 unaudited interim financial statements and related management discussion and analysis (“MD&A”)  are available for review on the Company’s SEDAR profile at www.sedar.com. TAAL reports all amounts in Canadian dollars, unless otherwise stated.

Q3-2020 Highlights

  • Company had $12,993,341 million in working capital at the end of September, 2020.
  • Completed the acquisition of WhatsOnChain Limited (“WhatsOnChain”), accelerating TAAL’s strategy of becoming a leading provider of enterprise blockchain infrastructure services.
  • The establishment of a European office in Zug, Switzerland, a leading technology hub in Europe.
  • Filed second patent for L0 token technology to enable smart contracts to be built on Bitcoin SV which will facilitate an expansion of the fee market available to TAAL.
  • Increased liquidity to U.S. investors with upgrade to OTCQX.
  • Entered agreement to establish 175 PH of custom computing capacity in a trusted North American environment to power Bitcoin Satoshi Vision (“BSV”) transaction solutions for global enterprise clients, subsequent to the quarter end.
  • Completed management and senior executive appointments; Stefan Matthews as Executive Chairman and CEO, Chris Naprawa as President and Interim CFO following the departure of Satoshi Kitahama, and Jerry Chan as CPO, subsequent to the quarter end.
  • David Allen, a seasoned finance executive with Fortune 250 Canadian companies and former VP, Corporate Controller at Canada Goose Inc. retained as financial consult

Financial Highlights for the Three and Nine Months Ending September 30, 2020

  • Gross revenue from operations generated $245,629 for the three-months ended September 30, 2020, as compared to $7,380,758 for the same period in 2019, which decrease reflects the suspension of digital asset hashing operations in May 2020 in advance of the halving. This resulted in gross revenue of $7,854,585 for the nine months ended September 30, 2020, as compared to $11,685,385 for the same period in 2019, which decrease reflects the suspension of hashing operations in 2020 partially offset by fleet management revenue.
  • Operating expenses totaled $4,965,786 for the three months ended September 30, 2020, as compared to $1,446,645 for the same period in 2019. The increase in expenses is largely attributable to one-time impairment charge related to blockchain computing equipment of $2,444,857 recognized in the quarter, as well as management fees, salaries and wages of $1,455,820, office and administration of $331,631, and share-based payments of $255,955 compared to $322,388$143,643, and $230,605, respectively, for the same period 2019. The increased expenses reflect the continuing investment in the team to deliver the new business line, including the transition to transaction processing, and the delivery of other value-added services for enterprise clients. For further information regarding the impairment charge, see the Company’s interim financial statements for the period ended September 30, 2020.
  • Net loss of $5,928,027 for the three months ended September 30, 2020, as compared to a net loss of $756,603 for the same period in 2019. Net loss of $9,120,930 for the nine months ended September 30, 2020, as compared to a net loss of $1,928,212 for the same period in 2019.
  • Working capital of $12,993,341 as of September 30, 2020, providing liquidity for at least the next 12 months.

Management Commentary

“In Q3-2020 the Company maintained a strong working capital position, allowing us to service clients and develop our infrastructure in North America and Europe, including closing the acquisition of WhatsOnChain in the UK, opening a TAAL EU office in Zug, Switzerland and subsequent to the quarter, strengthening our leadership team in Canada with the appointment of Chris Naprawa as President. Chris also takes on the role of Interim CFO with the departure of Satoshi Kitahama. These are important achievements which further our capacity as a first-mover in providing trusted blockchain infrastructure services to a growing global enterprise market,” comments Stefan Matthews, TAAL CEO and Executive Chairman.

Management Appointments Subsequent to the Quarter

The Company made various appointments and/or changes to its senior management and executive team subsequent to the quarter, which the Company believes have strengthened its financial, capital markets, product development and global commercial capabilities:

–  Stefan Matthews to Executive Chairman and Chief Executive Officer
–  Chris Naprawa to President, and Interim Chief Financial Officer
–  David Allen to Senior Financial Consultant

Mr. Naprawa, with the assistance of Mr. Allen, has also assumed the function of Interim CFO following the departure of former CFO Mr. Kitahama, who left the Company as of November 24, 2020.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users. The Company is led by an experienced management team, Board and Advisory Board members that include entrepreneur and BSV advocate Calvin Ayre, and renowned computer scientist and visionary Craig Wright.

Visit TAAL online at www.taal.com

This press release has been reviewed and financial content approved by the Company’s Audit Committee of the Board of Directors.

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes, but is not limited to statements regarding: TAAL’s strategy and vision; the expansion of the free market available to TAAL; TAAL’s future business success; and TAAL’s ability to provide trusted blockchain infrastructure services globally. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include, but are not limited to: global pandemics, including the affects of COVID-19; the future acceptance of BSV and other digital assets and risks related to information processing using those platforms; TAAL’s ability to leverage its intellectual property into viable income streams; and other risks set out in Item 20 – Risk Factors of TAAL’s Form 2A – Listing Statement dated July 31, 2018 and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

NON-IFRS FINANCIAL MEASURES

The terms “EBITDA” (net income or loss excluding net finance income or expense, income tax or recovery, depreciation, and amortization) and “Adjusted EBITDA” (which is calculated by the Company by adjusting EBITDA to exclude share-based payments, fair value loss or gain on re-measurement of Digital Assets, gain (loss) on foreign exchange, and costs associated with one-time transactions) are not recognized measures nor do they have standardized meanings under International Financial Reporting Standards (“IFRS”). There is no standardized measure of “EBITDA” or “Adjusted EBITDA” under IFRS and consequently, TAAL’s method of calculating this measure may differ from methods used by other companies and therefore may not be comparable to similar measures presented by other companies. A reconciliation of “Adjusted EBITDA” to Net Loss can be found in the MD&A.

Ape Tron Launches New Website and White Paper 4066

Ape Tron, a U.K. registered company, announced the launch of their new website and white paper at Apetron.com. Ape Tron is a Decentralized Financial (DeFi) platform, built on the Tron Blockchain and offering an interconnected eco-system of individual products, Dapps and socioeconomic experiments including the first Tron Blockchain based charting, tracking and trading tools alongside the Ape Dice Casino, Ape DeFi and Ape Swap platforms.

Ape Tron will be launching products to complement all the needs within the digital market creating an Interconnected Ecosystem of Individual Products, Dapps, and Socioeconomic Experiments. The Ape Tron White Paper explains that by developing and structuring their products, they will expand the use of the Ape Tron (APE) token to increase in its value and utility. The Ape Tron (APE) token economics are modeled to grow in value with Ape Dice, Ape DeFi, and Ape Swap. APE tokens can be used to access advanced features within the Ape Tron ecosystem and providing holders with opportunities to generate greater yield through the use of trading tools such as charting and tracking. It is expected that with the increase in the complexity of mining and the spread of the use of the Ape Tron (APE) token, its value will grow. With the expansion of the Ape Tron Ecosystem, token holders will be able to receive dividends from all projects in the APE ecosystem and participate in network governance.

With the launch of Ape Dice, token holders will be able to receive rewards from gambling Dapp profits, and with the launch of Ape DeFi and Ape Swap, receive rewards for participating in liquidity pools and mining the DeFi token. The rewards will depend on users’ share of the total value and turnover in the Ape DeFi platforms. This will incentivize users to participate in different instruments of the Ape Tron ecosystem.

To harness the power of authentic word-of-mouth and to attract more users to Ape Tron, users will be rewarded for every user they refer to the platform. The referral reward will be 10% of the number of tokens mined by referrals. The referral program will only take place during the Ape Tron (APE) and Ape DeFi (CHIMP) token mining phase.

Insights on the Blockchain In Genomics Global Market to 2025 – Key Drivers and Challenges 5121

The “Global Blockchain In Genomics Market By Type (Public, Federated, Private), By Application (Clinical Trials, IP Management, Drug Discovery, Data storage and security, Others), By Models, By Targets, By End User, By Region, Forecast & Opportunities, 2025” report has been added to ResearchAndMarkets.com’s offering.

The Global Blockchain in Genomics Market is expected to grow at a significant CAGR during the forecast period. Blockchain in genomics stores, manages and processes the transaction of genomic data between genomic data providers and its customers. Additionally, major factor driving the market is utility and demand to secure such transactions comprising of unique genomic data. However, the market is expected to be restrained due to the lack of understanding of utility of blockchain in genomics and high maintenance costs.

The market for global blockchain in genomics is segmented based on type, application, models, targets, end-user and region. The end-user segment is bifurcated into pharmaceutical companies and research institutes. Among these, pharmaceutical companies held the dominant market share in 2019 and the trend is likely to continue in the coming years as well. Additionally, pharma companies are mainly the ones carrying out the transaction of genomic data contributing to its leading position in the market.

In terms of regional analysis, North America held the dominant share in the market because of its rich economy and the presence of numerous research companies in the region. Additionally, Asia-Pacific is anticipated to witness fastest growth until 2025 as developing economies like India and China are now adopting blockchain in genomics.

Leading players in the Global Blockchain in Genomics Market include DNAtix, Shivom, Zenome, Luna DNA, EncrypGen, Nebula Genomics, GSK, Pfizer, Genobank.io, Merck, Genomes.io, WuXi Nextcode Genomics, Murrieta Genomics, Gene Blockchain, Longenesis, SimplyVital Health, Neogen, Ripe Technology, etc. The inter-company competition keeps on increasing parallelly with the market which in turn leads to innovations in technology, thus increasing customer satisfaction on a global level.

Elemental to Serve Latin America and Asia with Payroll Advances, Partnering with Flash Labs 5037

Elemental.io and Flash Labs Corporation—of Big Sun Holdings Group, Inc., and a member of Hyundai BS&C family of companies—today announced a strategic partnership and joint venture to advance software development, distribution and availability of consumer credit, using financial technologies in Latin America and Asian markets. Elemental’s payroll solution, PayMachine, is an end-to-end loan origination platform focused on delivering accessible micro-loans and flexible payment options to gig workers, contractors and employees of small-, medium- and enterprise-size businesses. PayMachine is also designed to interoperate with blockchain-based payment methods—including central bank digital currency and stablecoins. This unique feature enables payment service providers (PSPs), credit unions and banks to provide currency choices above and beyond that of legacy payroll solutions, using the PayMachine brand, or a white label solution.

Flash Labs will provide software development, integration services and funding to further expand the flexibility, availability and footprint of Elemental’s payroll software solutions. The team at Flash Labs is comprised of experts in Internet of Things (IoT) and blockchain technology, creating and enhancing solutions focused on the security, sanctity and usability of data. In conjunction with its Hyundai BS&C affiliates, Flash Labs offers “best of block” blockchain development and consulting services to companies looking to integrate their hardware and software products to public or private blockchains.

“Elemental set out with a mission to bring affordable consumer credit access to the millions of employed people currently unable to access affordable credit, instead relying on payday lenders and loan sharks, who charge usury interest rates,” says Oliver Gale, Founder and CEO of Elemental. This partnership with Flash Labs will accelerate the deployment of fairer solutions for all that need them.”

The PayMachine payroll and lending solution utilizes best-in-class machine learning, credit-scoring technology and smartphone delivery of funds. Elemental, by partnering with Flash Labs, is now in a position to become the market leader in emerging market consumer credit solutions.

“Elemental’s payroll and micro-loan solutions offer a perfect platform and synergy with the services provided by Flash Labs,” says Michael Woods, CEO & COO of Flash Labs Corporation. “Our knowledge of blockchain and its ability to provide secure immutable records with excellent transaction speed will help grow Elemental’s business throughout the globe.”

Worldwide interest in alternative currency payment options for contractors, employees and gig workers continues to soar, and Elemental is already gaining traction in Latin American and Asian markets. Follow each company on social media for updates and case studies involving new opportunities for credit lending with PayMachine, a global solution for payroll and micro-lending.

Verady Launches Ledgible Crypto Partner Program 5307

Verady, maker of the Ledgible cryptocurrency tax, accounting, and financial reporting platform, today announced its Ledgible Crypto Partner Program. The Program is designed to aid accountants, tax preparers and bookkeepers in managing the complexities of cryptocurrencies in order to retain current clients and gain new clients with crypto. Once a short form is completed and approved, members gain access to a Ledgible Tax Pro account for their firm and exclusive Partner content.

“With the recent questions on the IRS tax forms and more individuals and businesses buying, holding and spending cryptocurrency, there is a growing need to understand how digital assets align with accounting, reporting and verification in order for cryptocurrency adoption to go mainstream,” said John Wandrisco, Chief Commercial Officer at Verady, who recently joined the company after more than 20 years at Thomson Reuters. “The Ledgible Crypto Partner Program was developed to meet this need and advance the traditional financial and accounting support structure into the new digital economy.”

The Ledgible Crypto Partner Program helps traditional accounting professionals open a profitable new market segment for firms, and demonstrate leadership and expertise with the rapidly growing crypto industry. Program benefits vary by status and include access to the Ledgible Tax Pro, a subscription service where accounting professionals can centrally manage their crypto clients and their data. Members also have a listing on the Ledgible website, program communications and exclusive access to Partner-only information. Discounts are available based on the number of users and clients.

There is no charge to be a member of the Ledgible Crypto Partner Program. To sign up as a Ledgible Crypto Program Partner visit: https://ledgible.io/ledgible-crypto-partner-program-signup/ The first Partner-only information is the Crypto Tax Planning Playbook which details year end crypto tax planning.

Ledgible powered by Verady is a SOC audited platform for cryptocurrency and blockchain transaction accounting. Ledgible Tax Pro is the first solution designed specifically for professionals to assist their clients with crypto taxes. Ledgible for Business is your crypto subledger integrating with traditional platforms such as QuickBooks Online, Xero and NetSuite. Ledgible enables clients to save time and ensure accuracy by automatically syncing with information directly from cryptocurrency holdings and transactions.

SOCAR Trading’s Investments in Digitization Generate Strong Financial Performance 5978

SOCAR Trading Head of IT, Movsum Muslumzada, told the Reuters Commodity Trading Summit that, having upgraded its IT systems just prior to the COVID-19 outbreak, the trading company was able to quickly implement remote working without any operational interruptions. Speaking at a Reuters conference session on Overcoming Barriers to the Digitization of Commodities Trading, Mr. Muslumzada explained: “Moving to the cloud in 2019 was a game-changer for SOCAR Trading. When COVID-19 unexpectedly arrived in 2020, we were ready and had prepared our infrastructure so that people could work from any place on the planet. [Our digitized IT systems] helped a lot with communications and financially we had a good year.”

Mr. Muslumzada also called for the trading industry to adopt a general protocol and standards so that counterparties can exchange trading data and operational data.

Asked about blockchain, Mr. Muslumzada said that technology in itself is not a solution. “It’s all about how the platform is implemented and how it’s used and how easy it is to onboard people. We have a lot of systems but they need to be able to talk to others. If a blockchain is the solution, then we will sign up for it.”

According to Mr. Muslumzada, trust in technology is key. He continued, “Managers and decision-makers need to understand what technology tools are available, and to know how to use them and trust them. Five or six years ago, everybody was afraid of the cloud as it placed your data under somebody else’s control. Now, it’s becoming mainstream. So education is necessary.”

In recent months, SOCAR Trading has invested considerable time and resources in sophisticated IT systems, and digitized internal control frameworks have given the company the agility and the confidence to merit its status as one of the most successful global energy trading companies.