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Rapyd Expands Asia Pacific Team with Strategic Hires to Drive Global Payment Network Growth

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Rapyd, the global FinTech-as-a-service platform that helps businesses collect and disburse money via locally preferred payment methods, today announced it has appointed Richard Oh and Larry Lee as its APAC Senior Director of Network Management and Senior Director of Network Growth and Optimization, respectively. These strategic hires support the company’s strategy to expand operations and infrastructure in Asia Pacific, with an emphasis on strengthening the Rapyd Global Payment Network. Both executives join Rapyd from PayPal and will be based in Singapore. Together they bring close to four decades of extensive international experience in senior positions across FinTech and technology industries. These appointments follow the announcement of a $40 Million investment received by Rapyd in its recent Series B round led by General Catalyst and Stripe.

Richard Oh brings nearly 20 years of experience from PayPal and eBay where he was part of the core payments and partnerships team. During his tenure at PayPal, Mr. Oh was responsible for building the payments backbone of PayPal’s business, expanding PayPal’s payment and disbursement capabilities across Asia PacificLatin America, and the emerging markets. Having spent most of his career building international payments, Mr. Oh will be tasked to further grow Rapyd’s network-of-networks through partnerships and ensure users in every APAC market can pay and be paid with locally relevant payment methods.

Larry Lee joins Rapyd after spending 14 years across PayPal and eBay, where he held key responsibilities including geographic expansion, cross border trade, partnerships, regulatory licensing, financial operations, and corporate structure and governance. In his most recent role as Director of International Licensing, he helped develop market entry strategies for PayPal and was responsible for a portfolio of payments and e-money licenses for the international business. In his new role at Rapyd, Mr. Lee will work closely with Mr. Oh on the expansion of network partnerships, while ensuring Rapyd is able to navigate complex regulatory frameworks across a diverse international footprint and enable our customers to scale their businesses globally with ease.

“Richard and Larry join Rapyd at an inflection point of our global growth, and their expertise will be essential as we build out the Rapyd Global Payment Network,” said Joel Yarbrough, Rapyd’s VP, Asia Pacific.

“They are both recognized international business leaders and understand the unique challenges of scaling payments in Asia and globally.”

“Richard is literally a veteran of ‘the PayPal Wars’ that resulted in eBay acquiring PayPal, and he has truly seen it all. That experience is invaluable as we forge strong network partnerships globally and across the region to make going ‘local’ simple for the largest platform companies in the world.”

“Larry has invaluable insights on the licensing, regulatory, and treasury management structures that will help us establish a highly scalable platform that will enable us to keep up with and accelerate growth for the most innovative companies in the world.”

Rapyd already offers over 500 alternative payment methods such as real-time bank transfers, cash-in-store, e-wallets, and local card networks in 100+ countries, with plans to significantly expand its network capabilities and use cases in 2019 and 2020, extending its disbursement, compliance, foreign exchange management, and issuing solutions.

One of the latest milestones for network capabilities expansion in Singapore was Rapyd’s partnership with OCBC Bank to enable real-time bank payments for Singapore consumers and online retailers. The partnership leverages PayNow, Singapore’s national peer-to-peer funds transfer service, enabling OCBC Bank customers to make real-time bank transfers using the OCBC Pay Anyone app.

 

SOURCE Rapyd

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Digital Securities Maven Thomas Carter Enlists Former Nike Brand Director, Jerome Conlon, to Bring Cryptocurrency to the Masses

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Holders of bank stocks should avert their eyes. Having regained 2/3 of its value prior to last year’s sell-off, Bitcoin has risen nearly 200% so far this year. Many pundits and commentators are predicting another bull-run for Bitcoin before the end of the year. One such pioneer and FinTech veteran is Thomas Carter, founder of DealBox, a platform that empowers issuers and investors to take advantage of the current digital transformation of capital markets being driven by the emergence of STOs or Security Token Offerings.

The crafting of the narrative and strategy around this ambitious consumer education campaign — dubbed, “Make crypto easy” — will be led by branding guru Jerome Conlon.

Institutional investment is picking up; just about every Fortune 100 company is dipping in; Facebook just released Libra (for better or for worse); Blockstack launched the first SEC-qualified token offering in history. Bloomberg has finally admitted Bitcoin is a thing and President Trump is tweeting about it.

Those are just the highlights.

Even naysayers, at this point, can’t deny that cryptocurrency, Bitcoin and blockchain technology aren’t fading away. In fact, the often-cited tipping point of mass adoption seems to be fast approaching.

In his recently published book, “Life After Google,” economist and writer George Gilder, famous for predicting many of today’s technological advances back in the 80s, postulates that blockchain technology will have a bigger impact than all of the previous technological innovations combined.

Thomas Carter on the current situation:

“With blockchain tech and cryptocurrency, we aren’t dealing with a typical market adoption learning curve. Bitcoin was born of iconoclastic ideals and philosophy. If you were a technologist and you resonated with the philosophy behind Bitcoin, then you would figure out how to use it. In other words, user-friendliness wasn’t ever a consideration until now and that was mostly on purpose.”

Conlon has this to say about the project:

“This is the greatest business story never told. We need to tell it. People need to understand the massive change that blockchain is bringing to the world.”

The campaign will offer newbies to cryptocurrency solutions in four key areas:

1. Identity

2. Usability

3. Payments

4. Education

Details on the solutions being offered, and the vision for each, will be revealed in forthcoming information releases over the coming weeks.

To learn more about the Make Crypto Easy campaign, please visit http://www.makecryptoeasy.io.

 

SOURCE DealBox

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Ideanomics Unveils Plans For Fintech Village And Innovation Hub

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Ideanomics Inc. (Nasdaq: IDEX), a global technology company based in New York City, NY, took the wraps off its plans to transform the former UConn West Hartford campus into its global headquarters for technology and innovation.

“Nearly one year ago, I expressed our hope to call West Hartford our home,” said Ideanomics Chair, Dr. Bruno Wu, at a news conference held at the neighboring University of Saint Joseph. “Today, I am pleased to be able to share with you the reality beyond the vision”.

“Starting today, we take our largest step from blueprint to reality. Here in Connecticut, the front yard of the insurance and financial centers that call Connecticut and the Northeast their home,” Dr. Wu said.

“Fintech Village will be a unique and special project, the likes of which Connecticut has not seen. I thank former Governor Malloy for his support and Governor Lamont for being such a great partner and helping to make this day happen.”

“We have spent the past 10 months with our partners to design a specialized workplace that will stimulate both innovation and collaboration, and be an open campus with features and benefits that West Hartford residents spoke of in their town-wide Community Visioning Process last year,” said Alf Poor, Ideanomics CEO and President of Fintech Village.

Fintech Village will be a walkable campus accessible to the community and designed to fit organically into the natural beauty and scale of the campus’ 58-acre landscape, with:

  • Public plazas, open green spaces and recreational features
  • Boardwalks and trails through the restored natural habitat
  • Environmentally friendly and energy-efficient buildings
  • Traffic-calming measures on Trout Brook Drive
  • Small shops and places to eat
  • Enhanced parking for the Little League and Miracle League sports fields
  • A community center and an art gallery.

Neighborhood and community outreach begins

Poor stated that Ideanomics had begun its activities to engage, inform and solicit input from its West Hartfordneighbors and key community organizations.

“We wanted those living closest to campus to be among the first to hear about our plans through our neighborhood outreach program, which will soon spread to the West Hartford community as a whole,” Poor said, adding that the company will post and refresh information online at www.fintechvillage.us.

He said the company would also use, mail, social media, and traditional media outlets to provide updates on the project and inform residents throughout the public permitting process and project construction. Company representatives went door-to-door in a 500-foot zone around the campus, and will soon place information and descriptive imagery at the West Hartford Town Hall. It has offered to do the same at the Noah Webster Library and the Bishops Corner Branch Library.

Next steps: Environmental cleanup and local zoning and permitting process to begin

Poor said that Ideanomics was preparing to begin the environmental cleanup on site and the local zoning and permitting process with the town of West Hartford.

  • Ideanomics has commenced the cleanup of the asbestos and polychlorinated biphenyls (PCBs) that were identified on site prior to its sale by UConn. The presence of these materials is relatively common for the type and age of the buildings currently on campus, and a licensed environmental contractor will contain, remove and safely dispose of all contamination.
  • Ideanomics has filed asbestos abatement notifications with the Connecticut Department of Health. The company’s contractor has begun preparing for the asbestos abatement, which is scheduled to begin this week, and will last for approximately 3 months.
  • The company is waiting for the U.S. Environmental Protection Agency (EPA) to approve its proposed plan to remove and dispose of the PCB-contaminated soils. This will hopefully come within the late summer/early fall.

Ideanomics is also poised to begin the zoning and permitting process with the town of West Hartford.

“We will work collaboratively with town planning officials to prepare site plans and permit applications for their review. The process to secure the approvals for Fintech Village will be public, thorough and deliberative—and the town will set the manner and timeline of that process,” Poor said.

The next step will be to seek local zoning approval to create a “Technology Village District” zone—updating the town’s current “Business Office Laboratory” zone.

After the zoning rules are updated, Ideanomics will then submit all the required permit applications necessary to develop and operate the campus, following all the public procedures established by the town of West Hartford.

“This innovation hub will be a center of excellence and collaboration for cutting-edge solutions with applications in artificial intelligence, robotics, clean tech, med tech, accounting, insurance, financial services, transportation and more,” said Dr. Wu.

“We believe it will be a positive cultural, ecological and community asset to our neighbors in West Hartford, and I am so proud to share these plans today.”

 

SOURCE Ideanomics

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Chinese Government Leads the World in Blockchain Standardized Certification

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For years, governments around the world have been floundering with the challenge of how to respond to cryptocurrencies and blockchain technology. The Chinese Government has not been immune to the controversy taking a publicly conservative stance towards many aspects of the cryptocurrency world. However, a lesser known fact is that the Chinese Government has been regarding blockchain technology and its potential with a positive view. Starting 2017, China Electronics Technology Standardization Institute (CESI) – a government authorized institution founded in 1973, has been conducting Standard Blockchain System Function Test in order to pressure test and certify the top blockchain projects operating in China. Since inception, the organization has certified only 30 projects globally, including Lenovo, Alipay, and most recently, aelf.

The underlying thought behind this organization lies in the belief in the technology. Despite the appearance shared internationally because of its conservative stance on crypto currency, China in fact understands the benefits and application potential of the technology. At the launching ceremony and the first academic seminar of the Digital Finance Open Research Program held on July 8, 2019Xin Wang, director of People’s Bank of China Research Bureau and head of the Monetary and Financial Bureau, remarked on the potential of blockchain based financial solutions.

“We need to strengthen the construction of digital financial solutions (based on blockchain). There are various technical shortcomings involving the current financial infrastructure in areas of privacy protection and the system security against malicious attacks.”

The creation of the Standard Blockchain System Function Test shows that China is on the forefront when compared with governments around the world, in regards to regulatory and development solutions. While many governments are struggling to regulate blockchain projects, China has taken a decisive stance and developed extensive guidelines and tests to validate the previously uncharted technology. The certification provides a standard that can be used by the general public and other enterprises to judge the foundation of the projects that otherwise would be difficult without the knowledge and manpower to independently conduct the validation.

Currently there is no obligation for any project to apply for certification, but those that do apply undergo rigorous testing and scrutiny to verify the quality of all aspects of the technology. Upon having an application approved, the project will then receive a visit from specialized government agents who complete a comprehensive process consisting of over 40 pages of tests and analysis. The test is so complex and difficult that a pass constitutes of a score above 60%. From application to certification, the process takes almost 4 months. Out of an unverified number of applicants, only 30 projects have received certification over the course of the past 2 years.

Aelf is the latest to receive certification and is the first international blockchain focused company to receive the globally recognized status with a score of over 90%. They have now joined the ranks with Lenovo and Alipay. Aelf’s CEO and Founder, Ma Haobo stated, “This certification shows the quality and core ability of not only our developers, but our blockchain platform. It is designed to meet the strict quality large enterprises are given to expect, and indeed require, to ensure they can function at the performance their clients expect.” He went on to explain that this certification is something other governments should take notice of and employ to aid in their ever-evolving regulatory solutions.

 

SOURCE aelf

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