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Nomura’s Laser Digital Launches Ethereum Adoption Fund for Institutional Investors

by Blockchain NewsNovember 10, 2023

Laser Digital, a subsidiary of financial services giant Nomura, has launched an Ethereum Adoption Fund aimed at institutional investors, as announced on 9th November 2023. This fund, centered in London and Dubai, is a strategic move to bolster the presence of Ethereum in the investment portfolios of institutions, enhancing the digital asset’s footprint in the global financial market.

Laser Digital has been actively supporting cryptocurrency and digital asset initiatives. In 2023, the company introduced its first cryptocurrency fund, the Bitcoin Adoption Fund, offering institutional investors long-only exposure to Bitcoin. The company’s asset management unit was formed in February 2023, with team members in London, Zurich, and Dubai. In July 2023, the company received full crypto licensing from Dubai’s Virtual Asset Regulatory Authority. Laser Digital’s entry into fund management focused on digital assets was initiated in 2020 with the crypto custodian Komainu.

This Ethereum-focused fund is the latest in a sequence of digital asset solutions initiated by Laser Digital Asset Management. The series began with the introduction of the Bitcoin Adoption Fund in September. This new fund, titled ‘Laser Digital Ethereum Adoption Fund SP’, is set up as a segregated portfolio under Laser Digital Funds SPC, registered in the Cayman Islands, signaling a structured approach to digital asset investment.

The fund’s assets are secured and regulated through Komainu, a custodian regulated by both the UK Financial Conduct Authority and the Dubai Virtual Asset Regulatory Authority. This highlights the fund’s commitment to ensuring compliance with financial regulatory standards and asset security.

Under the leadership of Sebastian Guglietta, former Chief Scientist Officer at Nomura, and Fiona King, previously of Nickel Digital Asset Management, the fund aims to leverage Ethereum’s potential in driving the economy’s shift from analogue to digital. Guglietta and King bring extensive experience in investment strategies and institutional business to Laser Digital.

With this launch, Laser Digital accentuates its belief in Ethereum as a pivotal technology in the ongoing digital transformation of the economy. The fund is designed not only to invest in Ethereum but also to implement a yield enhancement strategy through staking, catering to the evolving needs of institutional investors in the digital age.

Backed by Nomura, Laser Digital has been actively working to create opportunities in the realm of digital assets, combining the rigor of traditional investment banking with the agility of a crypto-native team. Headquartered in Switzerland, the firm is focused on responsible and compliant engagement in the digital asset market.

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GFT and Thought Machine Partner to Drive Digital Transformation in U.S. Banking

by Blockchain NewsSeptember 29, 2023

Traditional financial institutions have arrived at a critical crossroads in the course of their digital transformation. They have built up a level of consumer trust that is on par with that of their digital-first rivals. As of the 28th of September in the year 2023, GFT, a global digital transformation company, and Thought Machine, a cloud-native banking technology firm, have joined forces to enable incumbent U.S. banks to flourish in the digital era. This partnership builds upon their multi-year collaboration, the focus of which has been on ushering in new digital infrastructures while steering traditional banks away from legacy technology and toward embracing truly cloud-native systems.

Traditional banks have been overtaken by their digital competitors throughout history; however, traditional banks are now introducing new financial experiences that their digital competitors are unable to duplicate. The race is on for banks to bring these experiences to market as quickly as possible, as those banks that modernize their legacy infrastructures before their competitors gain a decisive edge in the market.

GFT is proud to boast highly skilled delivery teams across the Americas. The company has partnered with global banks on their digital journeys for over 35 years and has extensive experience doing so. When combined with the cloud-native core banking technology offered by Thought Machine, they provide a novel and cost-efficient solution for the delivery of digital banking and payment solutions to financial institutions in the United States.

The collaboration between GFT and Thought Machine was instrumental in the development of Mox, the award-winning cloud-native, mobile-only digital banking arm of Standard Chartered in Hong Kong. Mox is powered by AWS and Vault Core, and it currently has over 400,000 customers.

In conclusion, GFT and Thought Machine are bringing financial institutions in the United States into the digital age, thereby paving the way for these institutions to abandon their reliance on legacy systems in favor of solutions that are agile and native to the cloud. Traditional banking institutions are seizing the opportunity to lead the way in the evolving financial landscape by introducing novel financial services and thereby positioning themselves at the forefront of the field.

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Tagged : CLOUD-NATIVE SYSTEMS / DIGITAL TRANSFORMATION / DIGITAL-FIRST BANKS / GFT / News / THOUGHT MACHINE / U.S. Banks / VAULT CORE

Digital Transformation in Finance and Accounting Accelerated by Pandemic, ISG Reports

by Blockchain NewsAugust 23, 2023

Finance and accounting departments globally are undergoing a digital transformation, aiming to streamline and automate processes, as highlighted in the 2023 ISG Provider Lens™ global Finance and Accounting Outsourcing (FAO) Services report. The push for digitalization was notably accelerated by the COVID-19 lockdowns, which necessitated a shift from traditional methods to accommodate remote work requirements.

The research indicates a growing reliance on external providers to assist in formulating digital strategies. Robert Stapleton, a partner at ISG, mentioned, “Organizations are creating connected finance teams with the technology to collect and analyze larger data sets for long-term decision-making.” This technological empowerment has positioned CFOs to play more strategic roles within their organizations.

The report also sheds light on the challenges businesses face due to disruptions since the pandemic, such as inflation and supply-chain issues. To navigate these challenges, many are turning to new operational methods and technologies. Notably, there’s a surge in the adoption of tools like SAP S/4HANA, generative AI, blockchain, and the metaverse. Recognizing the potential vulnerabilities of integrating these new technologies, there’s an emphasized focus on bolstering cybersecurity measures.

A significant shift in the FAO sector is the preference for outcome-based contracts, where both risks and rewards of digital transformation are shared between companies and FAO providers. Jan Erik Aase, global leader at ISG Provider Lens Research, stated, “FAO providers are becoming strategic partners that collaborate with clients in addition to delivering services.”

Furthermore, the report explores the importance of global delivery models for FAO services and emphasizes the need for clear strategies surrounding environmental, social, and governance (ESG) initiatives.

The comprehensive 2023 ISG Provider Lens™ report evaluates 28 providers across four key areas: Procure to Pay (P2P), Order to Cash (O2C), Record to Report (R2R), and Financial Planning and Analysis (FP&A). Leading firms such as Accenture, Capgemini, and Cognizant have been recognized as leaders in all quadrants.

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Tagged : Blockchain / DIGITAL TRANSFORMATION / FINANCE AND ACCOUNTING / GENERATIVE AI / ISG / Metaverse / News / Pandemic