Bitcoin could hit fresh all-time highs this week, which will bring upside to other cryptocurrencies, particularly those directly involved in fintech development.
This is the bullish prediction from Nigel Green, the CEO and founder of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organizations.
The ultra-bullish prediction comes as prices are on an upward trajectory and as Australia’s regulator, the ASIC, has become the latest watchdog to approve spot ETFs in the world’s two largest cryptocurrencies, Bitcoin and Ethereum.
Mr Green comments: “It’s taken a week or so longer than the Bitcoin bulls would’ve liked, but overnight on Sunday the world’s largest crypto took off again.
“It reclaimed its previous high of $64,900 from April and is closing in on its all-time high spot price of $66,000 from 19 October.
“Bitcoin will maintain its strength and is likely to shoot further this week, possibly hitting fresh all-time highs, as this current ‘take off’ generates further interest and momentum, attracting even more retail investors.”
He continues: “In addition, Australia’s securities watchdog has followed other global regulators, by giving the green light to the highly anticipated spot exchange-traded funds (ETFs) in a move that has provided a framework for other countries to follow suit.
“This move – especially when other regulators do the same, which they will – will mean that not only more retail investors will pile in but, crucially, more institutional investors such as family offices, hedge funds and real money asset managers will further increase their exposure into digital assets.
“They will bring with them unprecedented levels of capital and stability to the famously volatile crypto market. This will further drive prices skywards.”
The deVere boss goes on to add that the U.S. Securities and Exchange Commission (SEC) would be the “tipping point” in regard to ETFs.
“I believe that the Wall Street’s top regulator will eventually approve a spot Bitcoin ETF.
“A U.S.-based spot Bitcoin ETF would give the sector an unseen level of legitimacy and act as the ultimate tipping point for the market as it will allow corporates to buy and sell quickly and have direct exposure to the crypto itself, unlike with a futures-based ETF.”
As Bitcoin moves towards fresh all-time highs, other cryptos can also be expected to move to the upside, says Nigel Green. His observation follows Solana and Ether both hitting record highs last week.
“Bitcoin’s gravitational pull on other digital assets will show itself again this week, pulling up other major cryptocurrencies as it maintains its own strength.
“We can expect those cryptos involved with fintech development, such as Ether, Solana and Cardano, to do particularly well.
“Bitcoin is just the start of the fintech revolution which is redefining and reshaping the way that all financial services are delivered.”
He concludes: “This is going to be another good week for crypto investors as interest and demand, as well as regulatory recognition, take flight again.”
BUSINESS DEVELOPMENT + MARKETING + COMMUNICATIONS
Volante Technologies Recognized as Market Leader in Omdia Universe: Selecting a Payment Hub, 2021-22 Report
Cloud payments company scores highest mark for solution innovation capabilities and strategy
Volante Technologies, the global leader in cloud payments and financial messaging, has been recognized as a Leader in the Omdia Universe: Selecting a Payment Hub, 2021-22 global survey.
In preparing the report, Omdia, the analyst division of Informa, performed an in-depth review of the market and ranked vendors based on a matrix of key capabilities, attributes, and features. The comprehensive process incorporated in-depth client and vendor interviews, and is designed to help C-level executives, payment heads, and IT directors select the payment hub platform that will enable their payment modernization ambitions.
The report states that Volante has been recommended as a Leader “thanks to its co-innovation capabilities.” It highlights “the speed that the payment hub can be implemented” and “the maturity of Volante’s cloud capabilities” along with its “particularly strong low-code integration layer” as contributors to the ranking. The report concludes, “Volante scored the highest mark for its solution innovation capabilities and strategy / product roadmap.”
Philip Benton, Senior Analyst – Financial Services Technology at Omdia, said: “Volante Technologies earned its place as a recommended leader thanks to a combination of genuine innovation and the provision of services which allow the company to deliver significant payments efficiencies to both small and large institutions.”
John Farrell, SVP Global Product Management at Volante, said: “We are delighted to have been awarded the top ranking of leader by Omdia. This recognition vindicates our strategy of working as a trusted partner to our customers, and helping free them from the limitations of legacy systems through modern cloud-native payments solutions.
“With 75% of our staff in research and development, we intend to continue investing in our products to maintain our leadership position, and continue delivering outstanding results to our customers.”
ARTERIA AI SET TO ACQUIRE H4’S FINANCIAL SERVICES BUSINESS ASSETS
H4 Chairman and Co-founder Joe Seifert to join Arteria AI as senior advisor
Arteria AI, an award-winning global leader in enterprise digital documentation, has agreed to acquire certain financial services assets of H4, an award-winning contract lifecycle management platform.
As part of the agreement, H4’s Chairman and Co-founder Joe Seifert will join Arteria AI’s team as a senior advisor.
Shelby Austin, CEO of Arteria AI, said: “This is a very exciting time for our business as we set out to unleash the power of data to help global financial institutions solve their client documentation challenges at scale. Since spinning out of Deloitte we have continued on an incredible growth journey accelerated by the market’s clear preference for data-first solutions.”
“It is a strategic decision for us to acquire certain financial services assets of H4 to expand our reach and super-charge our efforts. Joe Seifert will bring invaluable experience and expertise to our team. We look forward to working together to provide an unrivalled, data-first client documentation solution for global financial institutions.”
Joe Seifert said: “Arteria AI and H4 cover most of the top-tier of the financial services market and it made perfect sense to join forces. Having spent time with Shelby and the team, I’m very excited that the combination will support Arteria AI’s position as a leader in digital documentation transformation across the global banking sector.”
Arteria AI works with the world’s largest banks to accelerate their client documentation processes at scale. From document generation through signature and beyond, Arteria uses context-specific AI, data, analytics and automation to ensure that stakeholders across the bank are able to serve their clients more quickly. This can be a key factor in driving additional revenue and minimizing risk and cost.
The company’s co-founders Shelby Austin, Abrar Huq and Jonathan Wong have more than 30 years experience within the documentation space and were leaders within the AI community prior to launching Arteria AI in October 2020.
H4 will focus on its offering for the corporate market, outside of global banking. Rob Fagg, CEO, and Andy Byrne, COO, have agreed a management buyout of H4, continuing their roles and becoming co-founders of the new business. Joe Seifert will remain a minority shareholder in H4.
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