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DIGITAL TOKEN IDENTIFIER REGISTRATION OPENS WITH ETRADING SOFTWARE

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Top 100 cryptocurrencies can now be tracked authoritatively using new ISO standard

 

Etrading Software, through its non-profit division the DTI Foundation, has just launched a new service to enable the tracking of all digital assets on a global basis. The service will issue identifiers for digital assets based on the new ISO standard, the Digital Token Identifier. ISO has selected Etrading Software to be the Registration Authority for this standard.

The new service is complementary to the existing ISO standard for tracking counterparties to a trade via the Legal Entity Identifier (LEI). It is designed by the same committee that has defined the ISO standard for the Unique Product Identifier (UPI) for tracking all OTC derivatives globally. Both the LEI and the UPI have been recommended by the Financial Stability Board to be used for regulatory reporting of trades across the G20 to enhance risk management and increase transparency in traditional capital markets.

The DTI extends the scope of the ISO standards to the digital token asset class. With the DTI Foundation’s launch of the DTI service, a key building block is now in place to upgrade the financial market plumbing to process digital asset trades safely and with appropriate oversight. Until now, such monitoring and tracking was impossible due to the lack of available ISO standards for digital assets.

The DTI can be used by regulators to monitor digital asset trades for anti-money laundering / combating terrorist financing requirements and also for monitoring systemic risks arising from the trading of global stable-coins and other digital assets. The DTI can be used by market participants to uniquely identify a given digital token (for example to distinguish unambiguously between ‘Bitcoin’ and ‘Bitcoin Cash’) thereby increasing transparency for market participants and reducing operational risk.

The DTI Foundation has proactively issued identifiers for the top 100 cryptocurrencies by market capitalisation, thereby enabling all major cryptocurrencies to be tracked, including bitcoin, ether, Tether and Ripple. With the opening of registration to market participants, the DTI Foundation also commits to issuing additional identifiers as required by market participants and regulators, with global stablecoins being a priority area given their potential systemic impact.

Dominique Tanner, Chairman of ISO/TC 68/SC 8, said, “ISO 24165, can be used by investors, exchanges, data aggregators, ecosystem participants, regulators and issuers, who can now submit an application to register a fungible digital token and receive a DTI, which is a random, unique and unambiguous identifier. Registration eligibility for the DTI is based on objective and verifiable information provided by the applicant. This will help the market identify different tokens that may be exchanged, aggregated, listed, or tracked.”

Sassan Danesh, Managing Partner of Etrading Software, said, “We are delighted that the new DTI has begun work, helping industry uniquely identify digital assets based on objective, verifiable information. This is an important step for the industry in being able to identify digital assets, in a standardised way and reduce ambiguity, increasing transparency and consistency, enabling further global interoperability and lower the bar for greater institutional investment in this burgeoning asset class.”

 

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TINTRA PLC FINALISES JOINT VENTURE WITH ARTIFICIAL INTELLIGENCE PARTNER TO BUILD INDUSTRY CHANGING REGULATORY TECHNOLOGY

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TINTRA PLC FINALISES JOINT VENTURE WITH ARTIFICIAL INTELLIGENCE PARTNER

Innovative fintech company, Tintra PLC(https://tintra.com/), has formed a joint venture with award-winning Artificial Intelligence and Machine Learning business, TMC2, via its subsidiary Finsensr.

The Joint Venture will utilise or create advanced, end-to-end AI tech – some already patented – to revolutionise how compliance between developed and emerging market economies works. This exciting tech stack includes the utilisation of lightning-fast large scale predictive modelling and semantic embeddings of financial data; together with the development of scalable efficient solutions based on customised shallow classifiers, deep learning, and Bayesian inference for robust and explainable predictive modelling.

Tintra is focused on enabling financial institutions, EMI’s, multi-nationals, and large corporates in the emerging world to gain access to banking systems that understand their geographic need. Using pioneering payments technology and compliance infrastructure will evolve the global banking industry. Where other fintech’s iterate, Tintra will innovate across the space.

In forming a joint venture with TMC2 – the team behind Mashtraxx, the AI engine being used to power a multi-billion dollar US based social media platform – Tintra aims to eliminate or radically improve the well documented emerging market issues of KYC & AML. The mission is to utilise these solutions to democratise financial regulation and level the playing field for all markets and make access to the global market place as seamless in Africa or Asia as it is in Europe or the United States.

 

Gary Wright, lead for TMC2 in the transaction stated, said “We are extremely excited to enter into this long-term partnership with Tintra to support the expansion of its business through the use of our leading-edge artificial intelligence. 

Our in-house team includes PHDs in Artificial Intelligence & Machine Learning. A Senior Executive Team with experience in the financial sector across financial services, Technology, Corporate banking, Investment management, Fund Management, and transaction services. With our key personnel gaining experience in institutions including Sungard, Mann Group, Royal Bank of Scotland, M&G, Prudential, Simplex Technology amongst a host of others

We are setting out to create the next generation of intelligent automated AI RegTech that we are confident will help power another billion-dollar unicorn, like Mashtraxx before it. We hope that this will revolutionise how the financial services industry fulfils the complex demands of KYC and AML compliance and regulatory legislation”

Tintra PLC is publicly listed on the AIM market of the London Stock Exchange and also available on the OTCQB Venture Market in New York.

In early November 2021, the PLC unveiled plans to raise additional capital to accelerate its growth strategy.

 

For more about Finance Derivative.

 

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CELLPOINT DIGITAL PARTNERS WITH VYNE TO ENABLE INSTANT OPEN BANKING PAYMENTS FOR MERCHANTS

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CELLPOINT DIGITAL PARTNERS WITH VYNE TO ENABLE INSTANT OPEN BANKING PAYMENTS FOR MERCHANTS

The partnership will allow CellPoint Digital customers to incorporate Vyne into its payment ecosystem and access instant payments without a need for direct integration.

 

Payment orchestration leader CellPoint Digital today announces a partnership with full stack account-to-account (A2A) payments specialist, Vyne. This partnership allows the Vyne platform to offer instant payments to CellPoint Digital’s merchant customers, allowing users to check-out faster than ever before and reducing merchant transaction costs.

Through CellPoint Digital’s Velocity Payment Orchestration Platform, merchants can easily incorporate Vyne into their payment ecosystem, providing all the speed and convenience of instant payments without the need for a direct integration with an open banking provider. With transactions intelligently routed and monitored in real-time, merchants can analyse performance and use data to cut costs, boost acceptance rates, and simplify operations via automated reconciliation.

By partnering with Vyne, CellPoint Digital’s merchants can now access improved payment experiences too. Harnessing open banking technology, the Vyne solution allows online shoppers to check out in as few as three clicks and offers settlements within seconds.

 

CellPoint Digital CEO, Kristian Gjerding, said: “The partnership with Vyne represents a significant addition to CellPoint’s payments offering. Merchants currently using our Velocity Payment Orchestration Platform can utilise all the benefits of the Vyne platform within their payments ecosystem and this will provide merchants with a greater opportunity to grow their business.

“At CellPoint, we put much stock into our partnerships. To us, they are more than simply functional and with Vyne being fellow innovators in the payments space with a track-record of supplying top tier merchants, we look forward to developing a long-lasting, collaborative relationship.”

The Vyne solution functions by using a customer’s existing online banking app to initiate and authenticate a transfer. As a result, the customer does not need to enter their account information online and sensitive financial details are never held by the merchant, resulting in a more secure process for both parties. By enabling a payment method that can be completed in just three clicks, the platform provides a simple and seamless experience that can help to reduce cart abandonment.

 

Vyne CEO, Karl MacGregor, said: “Existing payments and banking solutions are broken, and stacked against the merchants and consumers that use them. Payment methods come with a variety of settlement formats and can take anything from days to weeks to complete with customer conversions impacted by manual card data entry.

Vyne provides a new, alternative payment method for merchants and their customers and we’re delighted that more people will benefit from it through this partnership. CellPoint merchants will now experience instant fund settlement and their customers will be able to complete payments through their own banking apps in just a few taps with no card details needed. Merchants can also engage customers at the right time, through the right channels, using pay by link or QR codes, which can be sent via email, SMS, in app or used for in person sales.

“We look forward to working closely with CellPoint and empowering merchants with a level of payments functionality that can drive real, measurable growth.”

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