News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server

by Damian Chmiel
  • Also, FCA warned against two clone firms; Mastercard and Warply teamed up in MENA.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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Ledger and YouHodler Partnership

YouHodler, a Swiss-based Web3 platform, has partnered with Ledger to enhance the Ledger Live App, integrating trading capabilities. The partnership aims to provide Ledger Live users with a more seamless experience in cryptocurrency trading and investment, leveraging YouHodler's innovative platform. The companies aspire to bridge traditional financial services with the digital asset world, offering an exclusive offer to Ledger users.

"This enhancement aims to provide Ledger Live users with a frictionless pathway to explore and engage in cryptocurrency trading, empowering them to make the most of their digital assets directly within the Ledger Live ecosystem,” said Ilya Volkov, the CEO at YouHodler.

Mastercard and Warply Team Up in MENA

MASTERCARD EARNS
Photo: Bloomberg

Mastercard and Warply have announced a collaboration to drive digital transformation in the Middle East and North Africa (MENA) region. They plan to introduce card-linked offers, cross-country reward programs, and seamless redemption experiences. This strategic alliance, underpinned by a memorandum of understanding, will cater to the digital needs of government entities, large merchants, and banks across key MENA markets.

“Warply’s success speaks to the power of Mastercard’s award-winning Start Path program, and we look forward to deepening our relationship as we further fuel digital transformation across the markets we serve,” J.K. Khalil, the Cluster General Manager for MENA East at Mastercard, said.

FCA Clone Firm Alerts

The Financial Conduct Authority (FCA) has issued an alert regarding a clone firm, Netwealth Capital Investments Limited/Netwealth Capital, which is mimicking an FCA-authorized entity to deceive individuals. A similar warning has been released for another clone firm, CWG Markets/CWG Foreign Exchange.

The clone firms have been reaching out to people, falsely claiming to be an authorized firm. The FCA has published the scam firms’ details, warning the public not to engage with them.

KDB.AI Server Edition Launch

KX has launched KDB.AI Server Edition, designed for enterprise-scale generative AI applications. The vector database is optimized for time-oriented data and can be deployed easily across various environments. It has addressed the challenge of scaling AI applications, providing businesses with data processing and search functionality necessary for large-scale operations.

"The debut of KDB.AI Server Edition marks a transformative step in enterprise AI,” Ashok Reddy, the CEO of KX, commented.

Nomura SPARX Invests in ThinkCytes

Nomura SPARX Investment has invested in ThinkCyte, a biotech company specializing in cell analysis and sorting technology. This investment is expected to contribute to advancements in regenerative medicine, cell therapy, medical testing, and drug discovery, reinforcing Nomura's commitment to innovation in life sciences.

BBY Employee Charged

ASIC

The Australian Securities and Investments Commission (ASIC) has charged a former employee of the stockbroking firm BBY Limited with aiding and abetting the firm's dishonest conduct. The charges relate to the improper transfer of client funds, with the case set for a court mention in February 2024.

“Each offence carries a maximum penalty of 10 years’ imprisonment, or a fine of 4,500 penalty units ($765,000) or three times the total value of benefits obtained (or both). The maximum period of imprisonment has subsequently been increased,” ASIC commented.

Foundation Advice Limited’s License Cancellation

New Zealand's Financial Markets Authority (FMA) has canceled the Financial Advice Provider license of Foundation Advice Limited (FAL) following the company's liquidation. The FMA advises FAL's clients to contact product providers to ensure their financial needs continue to be met.

SEC Rule to Combat Conflicts of Interest

The Securities and Exchange Commission (SEC) has adopted Rule 192 to prevent conflicts of interest in securitizations. The rule, fulfilling a Dodd-Frank Act mandate, prohibits securitization participants from engaging in transactions that could materially conflict with the interests of investors.

“I am pleased to support this rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, a market which was at the center of the 2008 financial crisis,” said Gary Gensler, the Chairman of SEC.

FINRA Fines TD Private Client Wealth

FINRA has fined TD Private Client Wealth LLC $600,000 for failing to establish a supervisory system to comply with correspondence review obligations. The firm failed to review millions of emails, highlighting the importance of robust compliance measures in financial institutions.

Ledger and YouHodler Partnership

YouHodler, a Swiss-based Web3 platform, has partnered with Ledger to enhance the Ledger Live App, integrating trading capabilities. The partnership aims to provide Ledger Live users with a more seamless experience in cryptocurrency trading and investment, leveraging YouHodler's innovative platform. The companies aspire to bridge traditional financial services with the digital asset world, offering an exclusive offer to Ledger users.

"This enhancement aims to provide Ledger Live users with a frictionless pathway to explore and engage in cryptocurrency trading, empowering them to make the most of their digital assets directly within the Ledger Live ecosystem,” said Ilya Volkov, the CEO at YouHodler.

Mastercard and Warply Team Up in MENA

MASTERCARD EARNS
Photo: Bloomberg

Mastercard and Warply have announced a collaboration to drive digital transformation in the Middle East and North Africa (MENA) region. They plan to introduce card-linked offers, cross-country reward programs, and seamless redemption experiences. This strategic alliance, underpinned by a memorandum of understanding, will cater to the digital needs of government entities, large merchants, and banks across key MENA markets.

“Warply’s success speaks to the power of Mastercard’s award-winning Start Path program, and we look forward to deepening our relationship as we further fuel digital transformation across the markets we serve,” J.K. Khalil, the Cluster General Manager for MENA East at Mastercard, said.

FCA Clone Firm Alerts

The Financial Conduct Authority (FCA) has issued an alert regarding a clone firm, Netwealth Capital Investments Limited/Netwealth Capital, which is mimicking an FCA-authorized entity to deceive individuals. A similar warning has been released for another clone firm, CWG Markets/CWG Foreign Exchange.

The clone firms have been reaching out to people, falsely claiming to be an authorized firm. The FCA has published the scam firms’ details, warning the public not to engage with them.

KDB.AI Server Edition Launch

KX has launched KDB.AI Server Edition, designed for enterprise-scale generative AI applications. The vector database is optimized for time-oriented data and can be deployed easily across various environments. It has addressed the challenge of scaling AI applications, providing businesses with data processing and search functionality necessary for large-scale operations.

"The debut of KDB.AI Server Edition marks a transformative step in enterprise AI,” Ashok Reddy, the CEO of KX, commented.

Nomura SPARX Invests in ThinkCytes

Nomura SPARX Investment has invested in ThinkCyte, a biotech company specializing in cell analysis and sorting technology. This investment is expected to contribute to advancements in regenerative medicine, cell therapy, medical testing, and drug discovery, reinforcing Nomura's commitment to innovation in life sciences.

BBY Employee Charged

ASIC

The Australian Securities and Investments Commission (ASIC) has charged a former employee of the stockbroking firm BBY Limited with aiding and abetting the firm's dishonest conduct. The charges relate to the improper transfer of client funds, with the case set for a court mention in February 2024.

“Each offence carries a maximum penalty of 10 years’ imprisonment, or a fine of 4,500 penalty units ($765,000) or three times the total value of benefits obtained (or both). The maximum period of imprisonment has subsequently been increased,” ASIC commented.

Foundation Advice Limited’s License Cancellation

New Zealand's Financial Markets Authority (FMA) has canceled the Financial Advice Provider license of Foundation Advice Limited (FAL) following the company's liquidation. The FMA advises FAL's clients to contact product providers to ensure their financial needs continue to be met.

SEC Rule to Combat Conflicts of Interest

The Securities and Exchange Commission (SEC) has adopted Rule 192 to prevent conflicts of interest in securitizations. The rule, fulfilling a Dodd-Frank Act mandate, prohibits securitization participants from engaging in transactions that could materially conflict with the interests of investors.

“I am pleased to support this rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, a market which was at the center of the 2008 financial crisis,” said Gary Gensler, the Chairman of SEC.

FINRA Fines TD Private Client Wealth

FINRA has fined TD Private Client Wealth LLC $600,000 for failing to establish a supervisory system to comply with correspondence review obligations. The firm failed to review millions of emails, highlighting the importance of robust compliance measures in financial institutions.

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