Fintech Companies https://www.fintechnews.org/fintech-companies/ And Techs news of your sector Tue, 11 Feb 2025 01:12:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.7 Data Center Liquid Cooling Market Analysis and Forecast 2024-2034: Growth Opportunities Lie in Retrofitting Opportunities and Heat Repurposing from Liquid-Cooled Data Centers – ResearchAndMarkets.com https://www.fintechnews.org/data-center-liquid-cooling-market-analysis-and-forecast-2024-2034-growth-opportunities-lie-in-retrofitting-opportunities-and-heat-repurposing-from-liquid-cooled-data-centers-researchandmarkets-com/ Tue, 11 Feb 2025 01:12:02 +0000 https://www.fintechnews.org/data-center-liquid-cooling-market-analysis-and-forecast-2024-2034-growth-opportunities-lie-in-retrofitting-opportunities-and-heat-repurposing-from-liquid-cooled-data-centers-researchandmarkets-com/ DUBLIN–(BUSINESS WIRE)–The “Data Center Liquid Cooling Market – A Global and Regional Analysis: Focus on Product, Application, and Country Analysis – Analysis and Forecast, 2024-2034” report has been added to ResearchAndMarkets.com’s offering. The global data center liquid cooling market, valued at $5.65 billion in 2024, is expected to reach $48.42 billion by 2034, exhibiting a […]

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DUBLIN–(BUSINESS WIRE)–The “Data Center Liquid Cooling Market – A Global and Regional Analysis: Focus on Product, Application, and Country Analysis – Analysis and Forecast, 2024-2034” report has been added to ResearchAndMarkets.com’s offering.


The global data center liquid cooling market, valued at $5.65 billion in 2024, is expected to reach $48.42 billion by 2034, exhibiting a robust CAGR of 23.96% during the forecast period 2024-2034.

The data center liquid cooling market has been experiencing rapid growth, driven by the rising demand for energy-efficient and sustainable cooling solutions to support high-performance computing (HPC), artificial intelligence (AI), and hyperscale data centers. Key drivers include the proliferation of advanced technologies such as immersion and direct-to-chip cooling, which offer superior thermal efficiency and reduced power consumption compared to traditional air cooling systems.

Regulatory pressures to reduce carbon footprints and achieve net-zero goals are encouraging adoption alongside advancements in liquid cooling systems that facilitate higher server densities and operational reliability. Industry players are innovating with sustainable cooling fluids and scalable solutions tailored to emerging AI workloads and 5G applications.

However, challenges such as high implementation costs and limited standardization persist. Despite these obstacles, liquid cooling remains essential for addressing the growing heat densities of modern IT infrastructure while promoting sustainability and optimizing performance, solidifying its position as a transformative technology in data center operations.

This market analysis encompasses detailed insights into applications, products, and regional dynamics, highlighting drivers, restraints, and opportunities in key regions such as the U.S., Germany, and South Korea. The study provides a comprehensive perspective on the market’s development and growth potential by leveraging in-depth research and predictive models. The focus on sustainability, coupled with innovation in cooling technologies, positions liquid cooling as a pivotal factor in modernizing data center operations globally

Market Segmentation

IT and Telecom to Lead the Market (by End User)

The IT and telecom segment is set to dominate the data center liquid cooling market, driven by its critical role in managing substantial data volumes generated by data-intensive applications. The adoption of advanced technologies such as 5G, 6G, AI, and virtual reality has spurred demand for efficient data transmission and processing. As the backbone of modern economies, the IT and telecom industry supports low-latency requirements and massive data generation. Additionally, the BFSI sector shift toward paperless operations further amplifies demand for data centers, enhancing the need for liquid cooling technologies.

Hyperscale Data Center to Lead the Market (by Data Center)

The hyperscale data center segment is set to lead the data center liquid cooling market, driven by its critical role in supporting cloud services and computing applications. The increasing shift from physical to cloud computing has significantly boosted demand for hyperscale facilities. Major players such as Alibaba, Microsoft, and Google have already adopted advanced liquid cooling technologies, setting industry benchmarks and driving further growth. This trend underscores hyperscale data centers’ dominance in meeting rising demands for energy-efficient and scalable cooling solutions.

Rear Door Heat Exchangers (RDHX) to Lead the Market (by Solution)

The rear door heat exchanger segment is set to dominate the data center liquid cooling market from 2024 to 2034 due to advancements in cooling technology that enhance efficiency and sustainability. These systems effectively utilize server-generated heat to reduce energy consumption, offering superior energy efficiency compared to direct cooling methods. Studies, such as those from Lawrence Berkeley National Laboratory, highlight their ability to eliminate hot spots, ensure uniform temperature distribution, and optimize IT performance. This precise cooling solution aligns with the growing demand for energy-efficient and sustainable data center operations.

Recent developments in the data center liquid cooling market:

  • In August 2023, Boyd collaborated with NVIDIA and the Department of Energy on the COOLERCHIPS program to reduce data center cooling energy consumption to less than 5% of total energy use.
  • In November 2023, nVent showcased its advanced liquid cooling portfolio, including row-based liquid-to-air heat rejection units and rear door air-to-liquid heat exchangers. These modular solutions enable hyperscale data centers to meet growing cooling demands without extensive infrastructure upgrades.
  • At the Supercomputing Conference 2024 (SC24) in November 2024, JETCOOL Technologies Inc. unveiled its SmartPlate cooling technology and a 300kW coolant distribution unit (CDU), enabling seamless scalability up to 2.1MW for hyperscale AI workloads. This collaboration with Flex emphasizes the integration of the company’s microconvective cooling with Flex’s manufacturing capabilities, offering purpose-built solutions for AI and HPC applications.

Key Market Players and Competition Synopsis

This report formulates a strong competitive strategy designed for the data center liquid cooling market. It assesses key market players, suggests differentiation tactics, and provides guidance for maintaining a competitive edge. By following these strategic directives, companies can effectively position themselves against competitors, ensuring long-term success and profitability in a rapidly evolving market.

Some of the prominent names in the Data Center Liquid Cooling Market include:

  • Asetek
  • Asperitas
  • Chilldyne
  • Coolit Systems
  • DCX
  • GRC
  • Iceotope
  • LiquidStack Holding
  • Submer
  • Vertiv Group
  • ZutaCore
  • Coolcentric
  • Midas Immersion Cooling
  • Motivair Corporation
  • PEZY Computing
  • Mikros Technologies
  • Nortek Air Solutions
  • TMGcore
  • Koolance
  • Firmus Technologies
  • Shenzhen MicroBT Electronics Technology Co.
  • LiquidCool Solutions
  • Rittal
  • Accelsius
  • Legrand
  • STULZ
  • Sunonwealth Electric Machine Industry Co.
  • Werner Finley
  • Boyd
  • Danfoss
  • nVent
  • Alfa Laval
  • Kelvion Holding
  • FogHashing
  • Super Micro Computer
  • JETCOOL Technologies

Key Attributes:

Report Attribute Details
No. of Pages 235
Forecast Period 2024 – 2034
Estimated Market Value (USD) in 2024 $5.65 Billion
Forecasted Market Value (USD) by 2034 $48.42 Billion
Compound Annual Growth Rate 23.9%
Regions Covered Global 

Key Topics Covered:

1 Market: Industry Outlook

1.1 Trends: Current and Future Impact Assessment

1.1.1 Trends Shaping Data Center Liquid Cooling Market

1.1.2 Efficient Cooling Systems

1.1.3 Renewable Energy for Data Centers

1.1.4 Rising Demand for Edge Computing

1.1.5 Increased Interest in High-Performance Gaming and Bitcoin Mining Applications

1.1.6 Increased Data Requirements

1.1.7 Surge in Investments toward Data Center Cooling Innovations

1.1.8 Data Center Power Consumption Scenario

1.1.9 Other Industrial Trends

1.1.9.1 HPC Cluster Developments

1.1.9.2 Blockchain Initiatives

1.1.9.3 Super Computing

1.1.9.4 Impact of Server/Rack Density

1.2 Supply Chain Overview

1.3 Research and Development Review

1.4 Regulatory Landscape

1.5 Stakeholder Analysis

1.6 Case Studies

1.6.1 Immersion Cooling Technology

  • Revolutionizing Data Center Efficiency: Two-Phase Liquid Immersion Cooling at Quincy, Washington
  • Advancing Data Center Cooling Efficiency: The University of Leeds’ Adoption of Fully Immersed Liquid-Cooled Servers
  • PeaSoup Cloud: Pioneering Eco-Friendly Cloud Services with Immersion Cooling Technology
  • HYDRA Immersion Cooling: Revolutionizing Data Centre Efficiency and Sustainability
  • Advancing Thermal Efficiency: The Role of Liquid Immersion Cooling in Future Data Centers
  • Transforming Data Centers: Enhanced Efficiency with GRC’s CarnotJet System
  • Revolutionizing HPC: Magma Supercomputer and Advanced Liquid Cooling at LLNL
  • Revolutionizing HPC Efficiency: Shell IT’s Immersion Cooling Deployment with Penguin Solutions and AMD
  • Revolutionizing Data Center Cooling: OVHcloud’s Single-Phase Immersion Technology
  • Optimizing Immersion Phase-Change Cooling for Data Center Liquid Cooling Market
  • Revolutionizing Digital Payments with Liquid Cooling: A Sustainable Path to High-Performance Computing
  • Transforming Supercomputing with Immersion Cooling: TACC’s Lonestar6 Journey
  • Empowering Scientific Advancements with Immersion Cooling: PIC’s Success Story
  • Advancing Data Center Cooling Efficiency: KAORI and MIVOLT’s Immersion Cooling Solution
  • Empowering Reliance Jio’s Mobile Edge Compute with Immersion Cooling
  • Advancing High-Density Compute with Immersion Cooling
  • Driving Efficiency and Sustainability with Liquid Immersion Cooling
  • Enhancing Mining Efficiency with FogHashing’s Immersion Cooling Solution
  • Optimizing High-Performance Computing with Immersion Cooling Technology
  • Advancing Data Center Sustainability with Two-Phase Immersion Cooling

1.6.2 Other Liquid Cooling Technology

  • Case Study 1: Capital Expense Comparison – Facility and IT Load for Both Air-Cooled and Liquid-Cooled Data Center
  • Case Study 2: Colovore Implements Liquid Cooling Solution, Offering Rack Capacities of up to 50 kW

1.7 Startup Landscape

1.8 Market Dynamics Overview

1.8.1 Market Drivers

  • Increasing Data Center Spending
  • Growing Need for Hyperscale Data Centers
  • Reduction in Operational Costs

1.8.2 Market Restraints

  • High Investment Costs
  • Alternative Technologies Existing in the Market

1.8.3 Market Opportunities

  • Retrofitting Opportunities
  • Heat Repurposing from Liquid-Cooled Data Centers
  • Growth in Penetration Rate of Internet and Cloud Services

1.9 Data Center Dielectric Fluid Market Outlook

1.9.1 Selection Criteria for Dielectric Fluid for Data Center Immersion Cooling

1.9.2 Comparative Analysis for Different Liquid Cooling Technologies

1.9.3 Comparative Analysis for Dielectric Fluids

1.9.3.1 Rising Dielectric Fluid Usage Amid the Emergence of Liquid Cooling Trends

1.9.3.1.1 Comparison between Air and Liquid Cooling Technology

1.9.3.1.2 Green Innovation in Dielectric Fluids: Plant-Based Cooling Solutions for Data Centers and Crypto Mining Facilities

1.10 Impact of PFAS Ban on the Global Data Center Liquid Cooling Outlook

1.11 Historical Analysis of Liquid Cooling Deployment across Global Data Centers, 2018-2023

1.12 New Data Center Trends toward Adoption of Liquid Cooling, 2024-2034

1.13 Impact of Rising Rack Density on Data Center Liquid Cooling

2 Application

2.1 Application Segmentation

2.1.1 Application Summary

2.2 Global Data Center Liquid Cooling Market (by Application)

2.2.1 Global Data Center Liquid Cooling Market (by End-Use Industry)

2.2.2 Global Data Center Liquid Cooling Market (by Data Center)

2.2.2.1 Hyperscale Data Center

2.2.2.2 Enterprise Data Center

2.2.2.3 Colocation Data Center

3 Products

3.1 Product Segmentation

3.2 Product Summary

3.3 Global Data Center Liquid Cooling Market (by Solution)

3.3.1 Rear Door Heat Exchangers (RDHX)

3.3.2 Direct Cooling

3.3.2.1 Direct-to-Chip Liquid Cooling System

3.3.2.2 Immersion Cooling System

3.3.2.2.1 Single-Phase Immersion Cooling

3.3.2.2.2 Two-Phase Immersion Cooling

4 Regions

4.1 Regional Summary

4.2 North America

4.3 Europe

4.4 U.K.

4.5 Asia-Pacific

4.6 China

4.7 Rest-of-the-World

5 Competitive Benchmarking & Company Profiles

5.1 Strategic Initiatives, 2020-2024

5.2 Market Share

5.3 Company Profiles

  • Asetek
  • Asperitas
  • Chilldyne
  • Coolit Systems
  • DCX
  • GRC
  • Iceotope
  • LiquidStack Holding
  • Submer
  • Vertiv Group Corp.
  • ZutaCore
  • Coolcentric
  • Midas Immersion Cooling
  • Motivair Corporation
  • PEZY Computing
  • Mikros Technologies
  • Nortek Air Solutions
  • TMGcore
  • Koolance
  • Firmus Technologies
  • Shenzhen MicroBT Electronics Technology Co.
  • LiquidCool Solutions
  • Rittal
  • Accelsius
  • Legrand
  • STULZ
  • Sunonwealth Electric Machine Industry Co.
  • Werner Finley
  • Boyd
  • Danfoss
  • nVent
  • Alfa Laval
  • Kelvion Holding
  • FogHashing
  • Super Micro Computer
  • JETCOOL Technologies

For more information about this report visit https://www.researchandmarkets.com/r/c7g97

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T. Office Hours Call 1-917-300-0470

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UL Solutions and OpenEngagement Join Forces to Lead Australia Company Compliance with New Climate Laws https://www.fintechnews.org/ul-solutions-and-openengagement-join-forces-to-lead-australia-company-compliance-with-new-climate-laws/ Tue, 11 Feb 2025 01:06:15 +0000 https://www.fintechnews.org/ul-solutions-and-openengagement-join-forces-to-lead-australia-company-compliance-with-new-climate-laws/ The relationship will help enterprises in Australia provide required climate-related reporting, including greenhouse gas emissions across the supply chain NORTHBROOK, Ill.–(BUSINESS WIRE)–UL Solutions (NYSE: ULS), a global leader in applied safety science, and OpenEngagement, an independent stakeholder engagement and corporate governance advisory firm, today announced a relationship to help Australian companies navigate and comply with […]

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The relationship will help enterprises in Australia provide required climate-related reporting, including greenhouse gas emissions across the supply chain




NORTHBROOK, Ill.–(BUSINESS WIRE)–UL Solutions (NYSE: ULS), a global leader in applied safety science, and OpenEngagement, an independent stakeholder engagement and corporate governance advisory firm, today announced a relationship to help Australian companies navigate and comply with the country’s new mandatory climate reporting requirements.

The relationship will leverage UL Solutions’ expertise in environmental, social and governance (ESG) advisory services, data management and software solutions, including the UL Solutions ULTRUS™ software portfolio, encompassing centralized and unified digital offerings to help customers manage regulatory, supply chain and sustainability challenges. OpenEngagement will provide strategic guidance and support to customers throughout the reporting process, helping them to address climate-related risks and opportunities.

Strong ESG performance is now a strategic imperative for long-term business success,” said Ken Wilson, Australasia regional director at UL Solutions. “With the new climate law in Australia, the evolving regulations, like the Corporate Sustainability Reporting Directive, and a dynamic global ESG landscape, organizations must demonstrate transparency, attract responsible investors and build sustainable operations. Our new relationship with OpenEngagment will allow us to serve customers better and further complement our comprehensive suite of ESG verification services and software, including our UL 360 ESG data management software, part of ULTRUS™ software, that helps businesses simplify the complexities of ESG excellence.”

Australia’s recent passage of the Treasury Laws Amendment bill introduces mandatory climate-related reporting for large and medium-sized companies, including disclosures on climate-related risks and opportunities and greenhouse gas emissions across the supply chain. This legislation marks a significant step toward enhancing climate transparency and accountability in the Australian market.

OpenEngagement is thrilled to be chosen as UL Solutions’ strategic partner for ESG and sustainability reporting in Australia,” said Brendan Henry, CEO of OpenEngagement. “We founded OpenEngagement on the premise that we would only offer solutions that provide real value to our customers. With the 2025 enactment of mandatory climate-related reporting requirements, the combination of the award-winning UL 360 ESG data management software and proven pre-assurance methodologies provides an impactful solution.”

UL Solutions also delivers enterprise sustainability services and other verification-related services, such as environmental product declarations and zero-waste-to-landfill claim validation services.

UL Solutions’ ESG advisory and assurance services recently earned the company recognition as an Innovator in the Verdantix Green Quadrant: ESG and Sustainability Assurance Services 2024 report for strong technical expertise in assurance over environmental metrics — particularly carbon emissions — as well as a comprehensive portfolio of assurance services and support for manufacturing firms with complex supply chains. In addition, the ULTRUS™ software platform, which also provides environmental, health and safety (EHS) services, earned recognition in the Verdantix Green Quadrant: EHS Software 2025 report — the first time as a unified software platform — for helping companies meet the increasing demand of ESG and sustainability regulations and providing scalable tools to help large enterprises tackle global compliance challenges.

About UL Solutions

A global leader in applied safety science, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 110 countries. UL Solutions delivers testing, inspection, and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Solutions Mark serves as a recognized symbol of trust in our customers’ products and reflects an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage.

About OpenEngagement

OpenEngagement is an independent stakeholder engagement and corporate governance advisory firm based in Sydney, Australia, and is prominent throughout Australasia.

Contacts

Media:
Tyler Khan

UL Solutions

ULNews@UL.com
T: +1 (847) 664.2139

Steven Brewster

UL Solutions

ULNews@UL.com
T: +1 (847) 664.8425

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AO Mainnet Launches, Ushering in a New Era of Decentralized Computing and Permissionless Ecosystem Growth https://www.fintechnews.org/ao-mainnet-launches-ushering-in-a-new-era-of-decentralized-computing-and-permissionless-ecosystem-growth/ Sun, 09 Feb 2025 01:07:10 +0000 https://www.fintechnews.org/ao-mainnet-launches-ushering-in-a-new-era-of-decentralized-computing-and-permissionless-ecosystem-growth/ $700 Million and Counting Already Bridged to AO Protocol NEW YORK–(BUSINESS WIRE)–AO, a revolutionary platform for decentralized computing, launches its mainnet today following a highly successful testnet phase, with key milestones including: Over $700 million pre-bridged to the AO testnet prior to launch. More than 1.5 billion messages processed on the AO testnet. Over 100 […]

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$700 Million and Counting Already Bridged to AO Protocol

NEW YORK–(BUSINESS WIRE)–AO, a revolutionary platform for decentralized computing, launches its mainnet today following a highly successful testnet phase, with key milestones including:


  • Over $700 million pre-bridged to the AO testnet prior to launch.
  • More than 1.5 billion messages processed on the AO testnet.
  • Over 100 projects already integrated on the AO protocol, spanning decentralized exchanges, Web3 games, and more.
  • A fair launch distribution model, awarding 100% of AO tokens to users who deposited assets to the testnet and Arweave token holders.

“AO is not just a smart contract platform; it’s a decentralized supercomputer,” said Sam Williams, founder of AO and Arweave. “Combined with Arweave, AO’s architecture has the potential to radically change how we interact and transact on the web.”

AO’s Breakthrough Capabilities:

  • Infinite Parallel Processing: AO enables the simultaneous execution of unlimited parallel processes. Each smart contract operates as its own parallel “blockchain,” providing the throughput necessary to support internet-scale applications.
  • Enhanced Security with TEEs: AO leverages Trusted Execution Environments (TEEs) for hardware-level security and private computation, enabling secure dApps without the overhead of Fully Homomorphic Encryption (FHE) or Zero-Knowledge Proofs (ZKPs).
  • Unprecedented Smart Contract Data Capacity: AO smart contracts can be as large as standard computer programs, even supporting the on-chain execution of full Large Language Models (LLMs)—a Web3 first—with native access to all data stored on Arweave, which serves as AO’s permanent hard drive.
  • Self-Waking Contracts: AO smart contracts can be programmed to execute autonomously, facilitating the development of self-operating applications and supporting AO’s growing ecosystem of autonomous AI agents.
  • Modular Architecture: AO’s ultra-flexible design empowers developers to customize and extend the computer to meet their specific project requirements.

Fusing Blockchain and the Web: AO-Core

AO-Core, the core protocol of AO, embeds verifiable, cryptographically linked computation directly into HTTP. This means every HTTP request—from loading a webpage to executing complex computations—becomes a potential AO transaction. AO-Core is built on the web’s native standards, HTTP3 and the HTTP signed messages, and transforms them into a decentralized computational platform, addressing the scalability and trust limitations of centralized systems. AO-Core embeds verifiable proofs of the correctness of online results, offering attestations of trustworthiness similar to the familiar padlock icon for secure connections.

Harnessing the Web’s Immense Network Effects

AO uniquely leverages the vast network effects of the existing web infrastructure. By building upon established standards like HTTP Signed Messages, AO taps into a network far larger than any individual blockchain. Existing web infrastructure, like Content Delivery Networks (CDNs), can now function as AO-Core state resolvers, dramatically increasing efficiency and scalability.

Enhanced Security with TEEs: Enabling Private Computation

AO offers a flexible security model, including execution inside TEEs, providing hardware-level security for private computations. This approach achieves high verifiability without the performance overhead of traditional methods like FHE and ZKPs. This trust-minimized verifiable infrastructure allows developers to run any application in a secure and transparent manner. TEEs enable secure decentralized exchanges, private voting systems, and confidential smart contracts.

Fair Launch Tokenomics: A Foundation for Equitable Growth

AO’s tokenomics are designed for fairness and long-term sustainability. A 100% fair launch, with a total supply of 21 million tokens and a continuous release mechanism, ensures equal access on equal terms. Arweave holders are eligible for AO tokens, recognizing Arweave’s crucial role in providing permanent storage.

Introducing the Permaweb Index (pi): Simplifying Access and Fueling Ecosystem Growth

The Permaweb Index (pi) is designed to simplify user interaction with the permaweb by providing a single, accessible entry point to this decentralized ecosystem. Pi offers a diversified collection of assets, including:

  • AR (Arweave): Representing the foundational layer of permanent storage.
  • AO: Providing exposure to the core computational layer.
  • Fair-Launch Ecosystem Projects: Including promising projects built on the permaweb, fostering innovation and growth.

Key Features of the Permaweb Index:

  • Automated Access to all Permaweb Tokens: Pi offers a single point of access to a range of key assets within the permaweb, reducing the complexity of managing multiple tokens.
  • Automated Rebalancing: An autonomous on-chain agent dynamically manages the Index allocations to reflect the community’s sentiment regarding token values.
  • Fair Launch Participation: The Index participates in fair launches of new permaweb projects, further diversifying its holdings and supporting ecosystem growth while giving holders access to the newest and most exciting projects automatically.
  • Passive Indexing and Active Delegation: Users can choose to passively hold pi for diversified exposure or actively delegate their future yield.

“The Permaweb Index (pi) represents a critical step towards building a unified economic base of the permaweb,” said Williams. “By bridging the computational and storage layers, pi creates a cohesive ecosystem that fosters innovation and accelerates the growth of decentralized applications.”

About Forward Research

Forward Research is a venture protocol development company dedicated to growing the permaweb ecosystem. We are building towards a vision of a truly decentralized web, where user rights are immutably protected and software and data is permanent.

Founded and led by Sam Williams, the founder of the Arweave and AO protocols, Forward Research looks to incubate projects that expand permaweb adoption and use cases. We believe that the permaweb’s unique approach to data storage and its potential for creating truly decentralized applications will revolutionize the way we interact with the internet.

Contacts

Media Contact
arweave@strangebrewstrategies.com

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Asami CLUB Announces Strategic Partnership with FPBlock, Expanding Blockchain Capabilities https://www.fintechnews.org/asami-club-announces-strategic-partnership-with-fpblock-expanding-blockchain-capabilities/ Sat, 08 Feb 2025 01:12:00 +0000 https://www.fintechnews.org/asami-club-announces-strategic-partnership-with-fpblock-expanding-blockchain-capabilities/ CHARLOTTE, N.C.–(BUSINESS WIRE)–#blockchain–Asami CLUB is pleased to announce a strategic partnership with FPBlock, the blockchain division of FPComplete, marking a significant milestone in our mission to democratize social media trend creation. This collaboration brings together Asami’s innovative community-driven platform with FPBlock’s extensive blockchain expertise, powered by FPComplete’s proven track record of delivering over 100 successful […]

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CHARLOTTE, N.C.–(BUSINESS WIRE)–#blockchain–Asami CLUB is pleased to announce a strategic partnership with FPBlock, the blockchain division of FPComplete, marking a significant milestone in our mission to democratize social media trend creation.


This collaboration brings together Asami’s innovative community-driven platform with FPBlock’s extensive blockchain expertise, powered by FPComplete’s proven track record of delivering over 100 successful industrial-grade software projects.

Through this partnership, FPBlock will:

  • Provide premier software development resources to enhance the Asami platform
  • Utilize the CLUB platform to showcase their cutting-edge blockchain projects
  • Make their first strategic entry into the Rootstock ecosystem through Asami

“This partnership represents a perfect alignment of vision and capabilities,” said Nubis, founder at Asami CLUB. “By combining our community-focused approach to social media trends with FPBlock’s technical excellence, we’re creating new opportunities for authentic engagement between advertisers and social media users.”

The social media landscape is ripe for blockchain innovation, and Asami CLUB’s vision for democratizing trend creation perfectly aligns with our mission to bring enterprise-grade blockchain solutions to emerging markets,” said Wesley Crook, CEO of FPBlock. “This partnership enables us to expand our presence in the Rootstock ecosystem while helping build a more authentic and decentralized social media experience.”

The collaboration is expected to accelerate Asami’s platform development while providing FPBlock with a strategic presence in the growing Rootstock ecosystem.

For more information about Asami CLUB and our services, please visit https://www.fpblock.com.

About Asami CLUB

Asami CLUB is a pioneering platform that connects advertisers with social media users to create and promote authentic trends, making trend creation accessible to everyone.

About FPBlock

FP Block, a leading blockchain engineering firm, has delivered over 100 mission-critical projects across major ecosystems including Cosmos, Avalanche, and Solana. Their portfolio spans DeFi platforms handling $3B+ in trading volume, compliant on-chain betting systems, and NFT gaming solutions. Led by industry veterans with deep technical expertise, FP Block engineers scalable, secure blockchain solutions that shape the future of DeFi, smart contracts, and GameFi.

Contacts

Wesley Crook

wesley@fpblock.com

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Bitcoin Industry Forecast Report 2025, with 20+ Company Profiles including Antpool, Binance, BitDeer, Bitfarms, BitMain Technologies, Blockstream, Cipher Mining Technologies, CleanSpark & CoinGate – ResearchAndMarkets.com https://www.fintechnews.org/bitcoin-industry-forecast-report-2025-with-20-company-profiles-including-antpool-binance-bitdeer-bitfarms-bitmain-technologies-blockstream-cipher-mining-technologies-cleanspark-coingate-r/ Sat, 08 Feb 2025 01:04:04 +0000 https://www.fintechnews.org/bitcoin-industry-forecast-report-2025-with-20-company-profiles-including-antpool-binance-bitdeer-bitfarms-bitmain-technologies-blockstream-cipher-mining-technologies-cleanspark-coingate-r/ DUBLIN–(BUSINESS WIRE)–The “Bitcoin – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering. The global market for Bitcoin was valued at US$32.6 Billion in 2024 and is projected to reach US$125.6 Billion by 2030, growing at a CAGR of 25.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, […]

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DUBLIN–(BUSINESS WIRE)–The “Bitcoin – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.


The global market for Bitcoin was valued at US$32.6 Billion in 2024 and is projected to reach US$125.6 Billion by 2030, growing at a CAGR of 25.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

How Is Institutional Adoption Transforming the Bitcoin Market?

The increasing adoption of Bitcoin by institutional investors is significantly transforming the cryptocurrency landscape. Over the past few years, financial institutions, hedge funds, and large corporations have entered the Bitcoin market, seeking diversification and hedging opportunities against inflation. Major companies have started holding Bitcoin as part of their treasury reserves, recognizing its potential as a store of value comparable to gold. Moreover, institutional-grade investment vehicles such as Bitcoin ETFs, futures, and custodial services have made it easier for professional investors to participate in the market, driving liquidity and stability.

Regulatory clarity in certain regions has further encouraged institutions to integrate Bitcoin into their portfolios. For instance, jurisdictions that classify Bitcoin as a digital asset or legalize its use in payments provide a conducive environment for large-scale adoption. Additionally, the increasing involvement of fintech firms in offering Bitcoin-related services, such as payment gateways and trading platforms, is streamlining access for institutional players. These developments are not only expanding Bitcoin’s user base but also solidifying its role as a mainstream financial asset.

Why Is Bitcoin Emerging as a Preferred Cross-Border Payment Solution?

Bitcoin’s ability to facilitate fast, low-cost, and secure cross-border transactions has positioned it as a preferred solution for global payments. Traditional methods of transferring money across borders, such as wire transfers, are often expensive and time-consuming due to the involvement of intermediaries. Bitcoin eliminates these inefficiencies by enabling direct peer-to-peer transactions on a decentralized network, regardless of geographic location. This capability has proven particularly valuable for individuals and businesses in regions with limited access to traditional banking infrastructure.

The adoption of Bitcoin for remittances has seen substantial growth, driven by the increasing availability of cryptocurrency exchange platforms and wallet services. Additionally, Bitcoin’s transparency and immutability are addressing concerns related to fraud and corruption in cross-border payments. Companies involved in international trade are also leveraging Bitcoin to bypass currency conversion fees and hedge against exchange rate volatility. As the global economy becomes more interconnected, the demand for efficient and cost-effective payment solutions like Bitcoin is expected to rise.

How Are Technological Advancements Boosting Bitcoin Adoption?

Technological advancements are playing a critical role in boosting Bitcoin adoption by enhancing its scalability, security, and usability. The implementation of the Lightning Network, a layer-2 solution, has significantly improved Bitcoin’s transaction speed and reduced fees, making it more practical for everyday use. This technology enables microtransactions and opens up new use cases, such as instant payments for digital content and in-game purchases.

Moreover, advancements in blockchain interoperability are enabling Bitcoin to interact with other blockchain networks, broadening its utility across decentralized finance (DeFi) ecosystems. Wallet providers are also enhancing user experience by integrating features like multi-signature security, biometric authentication, and seamless integration with decentralized applications (dApps). These innovations are making Bitcoin more accessible and appealing to a wider audience, from individual users to enterprise clients. As these technological improvements continue, they are expected to drive further adoption and expand Bitcoin’s role in the digital economy.

What Factors Are Driving the Growth of the Bitcoin Market?

The growth in the Bitcoin market is driven by several factors, including increasing institutional adoption, growing demand for cross-border payment solutions, and advancements in blockchain technology. The expanding use of Bitcoin as a hedge against inflation and economic uncertainty has attracted a diverse range of investors, from retail traders to multinational corporations. The rising acceptance of Bitcoin by merchants and service providers, combined with the integration of Bitcoin payment options into mainstream platforms, is further accelerating its adoption.

Consumer behavior is also playing a crucial role, with younger, tech-savvy demographics driving interest in Bitcoin as a long-term investment and medium of exchange. Regulatory developments in key markets are creating a more favorable environment for Bitcoin transactions, boosting confidence among users and investors alike. Additionally, the increasing focus on financial inclusion in developing regions is propelling Bitcoin adoption, as it offers a decentralized alternative to traditional banking systems. These factors collectively underscore the robust growth trajectory of the global Bitcoin market.

Scope of the Study

The report analyzes the Bitcoin market, presented in terms of market value (US$ Thousand). The analysis covers the key segments outlined below.

Segments:

  • Application (Exchanges Application, Payment & Wallet Application, Remittance Services Application)
  • End-Use (BFSI End-Use, E-Commerce End-Use, Media & Entertainment End-Use, Other End-Uses)

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Exchanges Application segment, which is expected to reach US$60 Billion by 2030 with a CAGR of a 25.5%. The Payment & Wallet Application segment is also set to grow at 27.3% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, valued at $8.6 Billion in 2024, and China, forecasted to grow at an impressive 23.9% CAGR to reach $19.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Antpool, Binance Holdings, Bitcoin Group, BitDeer, Bitfarms and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Questions Answered:

  • How is the Global Bitcoin Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Some of the 22 companies featured in this Bitcoin market report include:

  • Antpool
  • Binance Holdings
  • Bitcoin Group
  • BitDeer
  • Bitfarms
  • BitMain Technologies
  • Blockstream Corp
  • Cipher Mining Technologies
  • CleanSpark
  • CoinGate

Key Attributes:

Report Attribute Details
No. of Pages 124
Forecast Period 2024 – 2030
Estimated Market Value (USD) in 2024 $32.6 Billion
Forecasted Market Value (USD) by 2030 $125.6 Billion
Compound Annual Growth Rate 25.2%
Regions Covered Global

Key Topics Covered:

MARKET OVERVIEW

  • World Market Trajectories
  • Economic Frontiers: Trends, Trials & Transformations
  • Bitcoin – Global Key Competitors Percentage Market Share in 2024
  • Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024

MARKET TRENDS & DRIVERS

  • Rising Institutional Investment Spurs Growth in Bitcoin Adoption
  • Increased Regulatory Clarity Strengthens Market Confidence in Bitcoin
  • Growing Adoption of Bitcoin as a Hedge Against Inflation Fuels Demand
  • Expansion of Crypto Payment Solutions Propels Bitcoin Integration in E-Commerce
  • Decentralized Finance (DeFi) Trends Drive Demand for Bitcoin as a Collateral Asset
  • Technological Advancements in Blockchain Scalability Strengthen Bitcoin’s Market Position
  • Rising Popularity of Bitcoin ETFs Expands Market Access for Institutional Investors
  • Growing Interest in Bitcoin for Cross-Border Remittances Boosts Market Opportunities
  • Adoption of Bitcoin by Major Corporations Enhances Legitimacy and Growth Prospects
  • Increased Public Awareness and Education Campaigns Drive Bitcoin Adoption
  • Growing Concerns Over Traditional Banking System Reliability Propel Bitcoin Adoption
  • Regulatory Challenges Encourage Development of Compliance-Focused Bitcoin Solutions
  • Bitcoin Mining Innovations and Renewable Energy Integration Drive Market Sustainability
  • Expansion of Layer-2 Solutions Such as Lightning Network Enhances Bitcoin Usability

For more information about this report visit https://www.researchandmarkets.com/r/r8o8i2

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

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Unity Chosen by Toyota Motor Corporation for Its Next-Generation Human Machine Interface (HMI) to Enhance the In-Car Experience https://www.fintechnews.org/unity-chosen-by-toyota-motor-corporation-for-its-next-generation-human-machine-interface-hmi-to-enhance-the-in-car-experience/ Fri, 07 Feb 2025 01:06:50 +0000 https://www.fintechnews.org/unity-chosen-by-toyota-motor-corporation-for-its-next-generation-human-machine-interface-hmi-to-enhance-the-in-car-experience/ Unity’s Real-time 3D capabilities are driving the evolution of the car interface SAN FRANCISCO–(BUSINESS WIRE)–Unity (NYSE: U), the leading platform to create and grow games and interactive experiences, today announced it has been selected by Toyota Motor Corporation to develop the Graphical User Interface (GUI) for Toyota’s next-generation in-car Human Machine Interface (HMI), elevating the […]

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Unity’s Real-time 3D capabilities are driving the evolution of the car interface

SAN FRANCISCO–(BUSINESS WIRE)–Unity (NYSE: U), the leading platform to create and grow games and interactive experiences, today announced it has been selected by Toyota Motor Corporation to develop the Graphical User Interface (GUI) for Toyota’s next-generation in-car Human Machine Interface (HMI), elevating the in-car experience.




Toyota’s selection of Unity underscores the transformative potential of Unity’s real-time 3D technology, refined through years of widespread use in the gaming industry across numerous platforms. This partnership seamlessly brings Unity’s technology into Toyota’s HMI development pipeline, improving efficiency across all stages of design and engineering by minimizing rework, optimizing development processes, streamlining data management, and delivering a stable, high-performance GUI experience to consumers.

Takashi Imai, Chief Project Leader of the Digital Software Development Center at Toyota Motor Corporation, commented: “At Toyota, we are developing in-house ‘digital cockpits’ to connect drivers, vehicles, and society as part of our efforts to create innovative user experiences. Hundreds of software engineers are involved in developing instrument clusters, infotainment systems, and other components. Recently, the use of advanced 3D graphics has become commonplace in the automotive industry. However, this technology requires specialized skills that can make it difficult for newer engineers. That’s where Unity has brought real innovation.

I’m pleased to see our engineers so enthusiastic, and it’s wonderful that they can now create new value in such a short amount of time. In addition, the efficiency of our development has improved dramatically, freeing us to devote more time to providing even more value to our customers. Moving forward, we will continue collaborating with Unity to deliver even more compelling, innovative products.”

We are thrilled to partner with Toyota Motor Corporation and their team of world-renowned engineers to bring Unity’s real-time 3D capabilities to the forefront of next-generation HMI experiences,” said Alex Blum, Chief Operating Officer, Unity. “As consumer expectations continue to evolve, Unity and Toyota can deliver seamless, interactive, cutting-edge solutions for drivers.”

About Unity

Unity [NYSE: U] offers a suite of tools to create, market, and grow games and interactive experiences across all major platforms from mobile, PC, and console, to extended reality. For more information, visit Unity.com.

Forward Looking Statements

This publication contains “forward-looking statements,” as that term is defined under federal securities laws, including, in particular, statements about Unity’s plans, strategies and objectives. The words “believe,” “may,” “will,” “estimate,” “continue,” “intend,” “expect,” “plan,” “project,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Further information on these and additional risks that could affect Unity’s results is included in our filings with the Securities and Exchange Commission (SEC) which are available on the Unity Investor Relations website. Statements herein speak only as of the date of this release, and Unity assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this publication except as required by law.

Contacts

Unity PR Contact:
Bryony Gittins

UnityComms@unity3d.com

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Ant International appoints Chief Innovation Officer to Spearhead AI-Driven Digitalisation Strategy with new Product, Technology and Innovation Framework https://www.fintechnews.org/ant-international-appoints-chief-innovation-officer-to-spearhead-ai-driven-digitalisation-strategy-with-new-product-technology-and-innovation-framework/ Fri, 07 Feb 2025 01:03:41 +0000 https://www.fintechnews.org/ant-international-appoints-chief-innovation-officer-to-spearhead-ai-driven-digitalisation-strategy-with-new-product-technology-and-innovation-framework/ Jiang-Ming Yang will be responsible for driving investments in and synergy between product and technology teams A new CIO Organisation will be created to drive continuous innovation across Ant International’s payments, digitalisation and embedded finance businesses Ant International’s global innovation and product strategy will remain focused on serving its goal of empowering inclusive growth and […]

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  • Jiang-Ming Yang will be responsible for driving investments in and synergy between product and technology teams
  • A new CIO Organisation will be created to drive continuous innovation across Ant International’s payments, digitalisation and embedded finance businesses
  • Ant International’s global innovation and product strategy will remain focused on serving its goal of empowering inclusive growth and supporting local businesses

SINGAPORE–(BUSINESS WIRE)–Ant International today announced the appointment of Jiang-Ming Yang as Chief Innovation Officer (CIO), effective immediately. As CIO, he will drive the synergised development of Ant International’s product and technology teams. He will also lead the CIO Organisation, the team responsible for steering Ant International’s global innovation and product strategy, ensuring that products and solutions are continually enhanced to stay ahead of industry trends and customer needs.


“Ant International will continue to invest at the frontier of innovation to help businesses, especially SMEs, to achieve sustainable growth in an increasingly complex global environment. Top on our list of priorities will be to push the cost and efficiency boundary for cross-border payment and settlement; to democratise cutting-edge technology solutions for SMEs on payment, trade and financial services; and to revolutionise user experience with new intelligent technology for cross-border travel,” said Jiang-Ming.

In December 2024, Peng Yang, CEO of Ant International, announced organisational and strategic upgrades to expand its range of AI-powered fintech solutions to support inclusive growth for businesses and support SMEs across its payment and digitalisation ecosystem.

With deep expertise and experience in leading global payments and e-commerce enterprises, Jiang-Ming Yang has played a critical role as Ant International’s Chief Product Officer in building fintech and growth tech solutions to drive customer success and enhance operational efficiencies across Ant International’s four main business pillars: unified digital gateway for mobile payment and super apps (Alipay+), unified payment services for global merchants (Antom), unified account service for global SMEs (WorldFirst), and embedded finance services that provide global liquidity management and SME credit tech solutions (Bettr and platform tech).

In the past years, Jiang-Ming has led the development and implementation of pioneering AI solutions for the industry, including:

  • A+ Rewards by Antom: A one-stop digital marketing solution designed to drive global payment user growth and improve payment conversion. By leveraging privacy-preserving computing and AI technologies to offer tailored precision marketing solutions, it now serves 230 million users across eight markets in Asia.
  • Antom Copilot: A smart solution advisor and operations assistant powered by advanced large language models (LLMs). Copilot has helped merchants reduce payment integration from up to 10 days to minutes.
  • Antom EasySafePay: A one-click checkout solution with 100% fault protection. It streamlines digital wallet payments procedures by enabling seamless transactions directly on the merchant checkout page.
  • Time-Series Transformer AI Foreign Exchange Model: The foreign exchange model predicts currency needs by the hours with 90% accuracy so multinational merchants can reduce their treasury management costs.
  • Whale Platform: A next-generation treasury management solution that utilises blockchain technology, advanced encryption and AI to improve the efficiency and transparency of fund movements.

About Ant International

Headquartered in Singapore, Ant International powers the future of global commerce with digital innovation for everyone and every business to thrive. In close collaboration with partners, we support merchants of all sizes worldwide to realise their growth aspirations through a comprehensive range of tech-driven digital payment and financial services solutions.

Contacts

Media
Kahmun Leong

kahmun.leong@antgroup.com

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Virtual, Inc. Announces New Client Partnerships and Expanded Offerings to Support the Tech Sector https://www.fintechnews.org/virtual-inc-announces-new-client-partnerships-and-expanded-offerings-to-support-the-tech-sector/ Thu, 06 Feb 2025 01:11:46 +0000 https://www.fintechnews.org/virtual-inc-announces-new-client-partnerships-and-expanded-offerings-to-support-the-tech-sector/ WAKEFIELD, Mass.–(BUSINESS WIRE)–Virtual, Inc. is pleased to announce continued growth in 2025, with new client partnerships and expanded service offerings designed to better support the tech sector. With a proven track record of empowering standards organizations, technology consortia, and professional societies across technology, healthcare, financial services, and life sciences, Virtual’s mission is to help membership-based […]

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WAKEFIELD, Mass.–(BUSINESS WIRE)–Virtual, Inc. is pleased to announce continued growth in 2025, with new client partnerships and expanded service offerings designed to better support the tech sector. With a proven track record of empowering standards organizations, technology consortia, and professional societies across technology, healthcare, financial services, and life sciences, Virtual’s mission is to help membership-based organizations achieve sustainable success and make their mark on the world.


New Client Partnerships

Virtual is proud to welcome several new clients, including the AI-RAN Alliance and Blockchain Security Standards Council, adding to its growing portfolio of organizations shaping the future of technology. These clients tap into Virtual’s comprehensive suite of services to achieve their strategic goals and maximize their impact.

Expanded Expertise and Offerings to Empower the Tech Sector

In 2025, Virtual continues to evolve its service offerings with an increased focus on leveraging data-driven insights and strategic solutions to help tech organizations drive membership retention and growth, adapt to market shifts, and achieve sustainable success. To support these efforts, Virtual is expanding its team, with 20 recent hires strengthening its ability to deliver top-tier services across operational infrastructure, technology solutions, and global marketing and events.

“At Virtual, we understand the unique challenges facing standards and technology organizations, and we’re proud to provide tailored solutions that deliver growth and long-term success for our clients,” said Andy Freed, CEO of Virtual, Inc. “From blockchain security and AI-driven technology standards to digital finance and data protection, our clients are driving transformation across industries worldwide. 2025 is shaping up to be an exciting year, and we look forward to partnering with these innovative organizations to help them make their mark on the world.”

About Virtual, Inc.

Virtual, Inc. is a top provider of professional services for associations, consortia, and other membership-based organizations, delivering tailored management solutions that drive success. Specializing in strategic planning, membership services, events management, finance, and technology solutions, we empower our clients to thrive in today’s complex business environment.

Our expertise and deep industry knowledge help clients achieve sustainable success by driving growth and enhancing member engagement. Visit: https://virtualinc.com/

Contacts

Jessie Hennion

Virtual, Inc. Public Relations

jhennion@virtualinc.com
(781) 876-6280

Melissa Bednar

Virtual, Inc. Public Relations

mbednar@virtualinc.com
(781) 876-8962

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XOi Amplifies Field Service Innovation with New Strategic Investment and Acquisition https://www.fintechnews.org/xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition/ Thu, 06 Feb 2025 01:07:09 +0000 https://www.fintechnews.org/xoi-amplifies-field-service-innovation-with-new-strategic-investment-and-acquisition/ The intelligent jobsite technology innovator secures record funding from KKR to expand data gathering and enrichment solutions. NASHVILLE, Tenn.–(BUSINESS WIRE)–XOi, a leading provider of jobsite-focused technology solutions for the field service ecosystem, today announced the acquisition of Specifx, an on-demand data enrichment and metadata retrieval platform for field service equipment. The acquisition was enabled by […]

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The intelligent jobsite technology innovator secures record funding from KKR to expand data gathering and enrichment solutions.

NASHVILLE, Tenn.–(BUSINESS WIRE)–XOi, a leading provider of jobsite-focused technology solutions for the field service ecosystem, today announced the acquisition of Specifx, an on-demand data enrichment and metadata retrieval platform for field service equipment. The acquisition was enabled by an investment from funds managed by leading global investment firm KKR. The funding from KKR marks the most significant milestone yet in XOi’s journey to build out its system of work for the field service ecosystem.


This strategic investment from KKR, along with the acquisition of Specifx, enable XOi to amplify its use and capabilities across the field service industries, furthering its mission of serving stakeholders throughout the ecosystem, including technicians, field service providers, distributors, and OEMs.

As the challenges of maintaining and manufacturing field service equipment grew more complex, we pushed ourselves to evolve our product alongside the demands of the industry,” said Aaron Salow, founder and CEO of XOi. “KKR’s strategic partnership will help us meet and exceed every stakeholder’s expectations of sustainability, profitability, and transparency.”

We believe XOi’s comprehensive software stands apart in the field service space not only because it allows technicians to view and adjust multiple workflows in one efficient platform, but also for its ability to normalize and enrich field service asset-specific data,” said Jake Heller, Partner and Head of KKR’s Technology Growth team in the Americas. “The addition of Specifx further enhances XOi’s database offering. We look forward to working with the entire XOi team as they continue to innovate for their customers across the field service ecosystem.”

Prior to this acquisition Specifx helped expand XOi’s groundbreaking Insights product, which provides unique asset origination, performance, and diagnostics information. Now, the combined resources and capabilities of the two companies empower XOi to deliver a unified framework of proprietary and operational data to fuel faster and more meaningful innovation to the mechanical, electrical, and plumbing industries.

Today marks a defining moment in our growth and we are thrilled to join forces with XOi,” said Ryan Martineau, founder and CEO of Specifx. “XOi’s extremely impressive platform, coupled with a shared mission and common customer base, allows us to accelerate our vision of next generation, asset-centric solutions that simplify the day-to-day operations for our customers.”

We are humbled by the role we have been able to play in changing this industry and the skilled trades for the better, and we are excited to drive the mission forward for years to come,” said Aaron Salow, founder and CEO of XOi. “Our vision has never been clearer, and our passion for the trades has never been stronger.”

KKR is funding this investment primarily from its Next Generation Technology III Fund.

Bass, Berry & Sims PLC served as legal advisor and Raymond James Financial, Inc. served as financial advisor to XOi. Latham & Watkins LLP served as legal advisor to KKR.

About XOi

XOi, the leading provider of jobsite-focused technology for the field service ecosystem, arms the industry with a digital tool that connects people to mission-critical equipment. XOi technology is the hub in which every part of the job—from the field to the manufacturer—connects. XOi provides AI-powered workflows, asset and team management functions, a comprehensive knowledge base, and immediate revenue-producing insights leveraging data from current and historical projects. Beyond this tool that manages consistency, profitability, and transparency, XOi’s goal is to create future-focused technology that modernizes the field service industry as a whole, and delivers 1 of 1 asset origination, performance, and diagnostics information of mission critical assets. To learn more about XOi, visit xoi.io.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Specifx

Specifx, an industry leader in data management for HVAC companies, specializes in on-demand data enrichment and metadata retrieval for HVAC companies. The company’s flagship product, Decoder, gives technicians, HVAC providers and manufacturers access to complete HVAC metadata via a simple nameplate scan, and the tool gives users the flexibility to scan each unit individually, in batches, or via the Decoder API. Specifx’s database covers the most common HVAC equipment made by around 100 major manufacturers over the past 30+ years. Specifx’s mission is to transform the HVAC data acquisition and solutioning experience for owners, occupiers, investors and service providers, reducing the effort to acquire essential information for day-to-day operations while supporting strategic, enterprise-scale investment and decarbonization initiatives. For more information about Specifx, visit specifx.com.

Contacts

Media Contacts:

XOi
Heather Ripley

Ripley PR

(865) 977-1973

hripley@ripleypr.com

KKR
Emily Cummings

media@kkr.com

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 The Marygold Companies, Inc. Reports Financial Results for 2025 Second Fiscal Quarter https://www.fintechnews.org/the-marygold-companies-inc-reports-financial-results-for-2025-second-fiscal-quarter/ Thu, 06 Feb 2025 01:04:04 +0000 https://www.fintechnews.org/the-marygold-companies-inc-reports-financial-results-for-2025-second-fiscal-quarter/  -Company continued to invest in the Fintech sector through Marygold & Co.- SAN CLEMENTE, Calif.–(BUSINESS WIRE)–The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding firm, today reported financial results for its 2025 second fiscal quarter ended December 31, 2024. Revenue for the three months ended December 31, 2024 amounted […]

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 -Company continued to invest in the Fintech sector through Marygold & Co.-

SAN CLEMENTE, Calif.–(BUSINESS WIRE)–The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding firm, today reported financial results for its 2025 second fiscal quarter ended December 31, 2024.

Revenue for the three months ended December 31, 2024 amounted to $8.0 million, compared with $8.5 million last year. The Company recorded a net loss of $1.7 million, equal to a loss of $0.04 per share, for the second quarter of fiscal year 2025, compared with a net loss of $1.2 million, equal to a loss of $0.03 per share, for the second quarter of fiscal 2024. Revenue for the six months ended December 31, 2024 totaled $15.9 million, with a net loss of $3.3 million, equal to a net loss of $0.08 per share, versus revenue of $16.7 million and a net loss of $1.7 million, or a net loss of $0.04 per share, for the comparable prior year period.

The revenue decline over both comparable prior year periods was primarily due to a reduction in average assets under management (“AUM”) at TMC’s largest subsidiary, USCF Investments, to $3.1 billion from $3.5 billion a year ago. AUM level directly impacts the management fees earned and typically fluctuates with global commodity pricing trends. Revenue also was impacted by a slight increase in the strength of the U.S. dollar, which negatively impacted currency translation values in the Company’s foreign subsidiaries. The performance of TMC’s core operating subsidiaries was within expectations, and the net loss principally reflected the Company’s continued expenses in the development and roll-out of its mobile banking fintech app through its Marygold & Co. subsidiaries in the U.S. and the U.K.

Cash and cash equivalents of $5.7 million at December 31, 2024 increased slightly from $5.5 million at June 30, 2024, the close of TMC’s prior fiscal year. Total stockholders’ equity decreased to $23.4 million at December 31, 2024 from $26.6 million at fiscal year-end, primarily reflecting the net loss incurred during the six months ended December 31, 2024.

“For the quarter just ended, we had budgeted for continued losses, based in large part on cash expenditures incurred by our Marygold fintech subsidiary,” said David Neibert, TMC’s Chief Operations Officer. “To help with cash needs for future development and rollout of our fintech app, we entered into a $4 million note during the first quarter, and in anticipation of an equity raise of $2.3 million in gross proceeds that was completed subsequent to the close of the second quarter, we finalized a prospectus supplement for our Form S-3 shelf registration. These actions produced expenses for the second quarter and contributed to the net loss.

“We are pleased that our operating subsidiaries in New Zealand, Canada and in the U.S. continue to do well overall. Moving into the second half of our fiscal year, we expect to significantly reduce expenses in our Marygold & Co. subsidiary, having successfully completed the proof-of-concept phase,” Neibert added.

Nicholas Gerber, TMC’s Chief Executive Officer, said, “We have spent nearly $20 million into what we refer to as the ‘Marygold Project,’ which includes Marygold & Co. and its counterpart, Marygold & Co. (UK) Limited. We view these costs as investments in TMC’s long-term future, and believe the Company is poised to move forward with the initial roll-out of the mobile app in the U.K. shortly, while we strategize on marketing direction for the app in the U.S.

“As shareholders, we all have gone through a painful period of enduring losses, while we refocused our corporate resources in the fintech sector. I believe we will turn the corner soon and begin to see some tangible results for those efforts,” Gerber said.

Business Units

The Company’s USCF Investments subsidiary, https://www.uscfinvestments.com/, acquired in 2016 and based in Walnut Creek, Calif., serves as manager, operator or investment adviser to 15 exchange traded products, structured as limited partnerships or investment trusts that issue shares trading on the NYSE Arca.

Gourmet Foods, https://gourmetfoodsltd.co.nz/, acquired in 2015, is a commercial-scale bakery that produces and distributes iconic meat pies and pastries throughout New Zealand under the brand names Pat’s Pantry and Ponsonby Pies. Acquired by Gourmet Foods in 2020, Printstock Products Limited https://www.printstock.co.nz, is a printer of specialized food wrappers and is located in Napier, New Zealand. Its operations are consolidated with those of Gourmet Foods.

Brigadier Security Systems, https://brigadierelite.com/, acquired in 2016 and headquartered in Saskatoon, Canada, provides comprehensive security solutions to homes and businesses, government offices, schools and other public buildings throughout the province under the brands Brigadier Security Systems in Saskatoon and Elite Security in Regina, Canada.

Acquired in 2017, San Clemente, Calif.-based Original Sprout, www.originalsprout.com, produces and distributes a full line of vegan, safe, non-toxic hair and skin care products, including a “reef safe” sun screen, throughout the U.S. and in many regions throughout the world.

Marygold & Co., https://marygoldandco.com/, headquartered in Denver, Colo., is a wholly owned TMC subsidiary established in 2019 to explore opportunities in the financial technology sector. Marygold & Co. (UK) Limited, https://marygoldandco.uk/, also a wholly owned TMC subsidiary, was established in the U.K. in 2021 and operates through two U.K.-based investment advisory business units: Marygold & Co Limited (fka/Tiger Financial and Asset Management), acquired in 2022, http://www.tfam.co.uk/, and Step-by Step Financial Planners, acquired in 2024, https://www.sbsfp.co.uk/, that manage clients’ financial wealth across a diverse product range.

About The Marygold Companies, Inc.

The Marygold Companies was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in fund management, financial services, food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Marygold & Co., Marygold & Co. Limited, Step By Step Financial Planners, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit www.themarygoldcompanies.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, should not be relied upon as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, significantly reducing expenses in the Marygold & Co. subsidiary, along with the risks disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the Company’s other filings with the Securities and Exchange Commission. The foregoing list of factors is not inclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

(unaudited)

 

 

December 31,

2024

 

June 30,

2024

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

Cash and cash equivalents

 

$

5,677

 

 

$

5,461

 

Accounts receivable, net (of which $1,520 and $1,455, respectively, due from related parties)

 

 

2,292

 

 

 

2,678

 

Inventories

 

 

2,189

 

 

 

2,191

 

Prepaid income tax and tax receivable

 

 

2,246

 

 

 

1,338

 

Investments, at fair value

 

 

9,232

 

 

 

9,551

 

Other current assets

 

 

961

 

 

 

3,034

 

Total current assets

 

 

22,597

 

 

 

24,253

 

 

 

 

 

 

 

 

Restricted cash

 

 

61

 

 

 

62

 

Property and equipment, net

 

 

1,021

 

 

 

1,166

 

Operating lease right-of-use assets

 

 

1,262

 

 

 

974

 

Goodwill

 

 

2,481

 

 

 

2,481

 

Intangible assets, net

 

 

1,218

 

 

 

1,375

 

Deferred tax assets, net

 

 

1,969

 

 

 

1,969

 

Other assets

 

 

2,389

 

 

 

619

 

Total assets

 

$

32,998

 

 

$

32,899

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

3,782

 

 

$

4,021

 

Lease liabilities, current portion

 

 

627

 

 

 

620

 

Purchase consideration payable, current portion

 

 

235

 

 

 

277

 

Notes payable, current portion

 

 

3,517

 

 

 

315

 

Total current liabilities

 

 

8,161

 

 

 

5,233

 

 

 

 

 

 

 

 

Notes payable, net of current portion

 

 

376

 

 

 

 

Purchase consideration payable, net of current portion

 

 

 

 

 

237

 

Lease liabilities, net of current portion

 

 

748

 

 

 

455

 

Deferred tax liabilities, net

 

 

360

 

 

 

360

 

Total long-term liabilities

 

 

1,484

 

 

 

1,052

 

Total liabilities

 

 

9,645

 

 

 

6,285

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Preferred stock, par value $0.001; 50,000 shares authorized

 

 

 

 

 

 

Series B: 49 issued and outstanding at December 31, 2024 and June 30, 2024

 

 

 

 

 

 

Common stock, $0.001 par value; 900,000 shares authorized; 40,188 and 40,096 shares issued and outstanding at December 31, 2024 and June 30, 2024, respectively

 

 

40

 

 

 

40

 

Additional paid-in capital

 

 

13,196

 

 

 

12,825

 

Accumulated other comprehensive loss

 

 

(568

)

 

 

(269

)

Retained earnings

 

 

10,685

 

 

 

14,018

 

Total stockholders’ equity

 

 

23,353

 

 

 

26,614

 

Total liabilities and stockholders’ equity

 

$

32,998

 

 

$

32,899

 

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

 

 

 

Three Months Ended

December 31,

 

Six Months Ended

December 31,

 

 

2024

 

2023

 

2024

 

2023

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Fund management – related party

 

$

4,685

 

 

$

4,997

 

 

$

9,276

 

 

$

10,047

 

Food products

 

 

1,688

 

 

 

1,920

 

 

 

3,510

 

 

 

3,649

 

Beauty products

 

 

832

 

 

 

842

 

 

 

1,430

 

 

 

1,617

 

Security systems

 

 

585

 

 

 

570

 

 

 

1,274

 

 

 

1,123

 

Financial services

 

 

214

 

 

 

128

 

 

 

423

 

 

 

256

 

Revenue

 

 

8,004

 

 

 

8,457

 

 

 

15,913

 

 

 

16,692

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

2,076

 

 

 

2,091

 

 

 

4,203

 

 

 

4,128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

5,928

 

 

 

6,366

 

 

 

11,710

 

 

 

12,564

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expense

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and compensation

 

 

2,947

 

 

 

2,999

 

 

 

6,094

 

 

 

5,589

 

General and administrative expense

 

 

2,361

 

 

 

2,306

 

 

 

4,926

 

 

 

4,556

 

Fund operations

 

 

1,566

 

 

 

1,187

 

 

 

2,978

 

 

 

2,461

 

Marketing and advertising

 

 

738

 

 

 

718

 

 

 

1,407

 

 

 

1,685

 

Depreciation and amortization

 

 

142

 

 

 

153

 

 

 

301

 

 

 

307

 

Total operating expenses

 

 

7,754

 

 

 

7,363

 

 

 

15,706

 

 

 

14,598

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(1,826

)

 

 

(997

)

 

 

(3,996

)

 

 

(2,034

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

 

1,064

 

 

 

138

 

 

 

1,215

 

 

 

331

 

Interest expense

 

 

(362

)

 

 

(3

)

 

 

(393

)

 

 

(7

)

Other expense, net

 

 

(1,105

)

 

 

(503

)

 

 

(1,124

)

 

 

(458

)

Total other expense, net

 

 

(403

)

 

 

(368

)

 

 

(302

)

 

 

(134

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

 

(2,229

)

 

 

(1,365

)

 

 

(4,298

)

 

 

(2,168

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit from income taxes

 

 

482

 

 

 

182

 

 

 

966

 

 

 

484

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(1,747

)

 

$

(1,183

)

 

$

(3,332

)

 

$

(1,684

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

40,863

 

 

 

40,397

 

 

 

40,855

 

 

 

40,397

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.04

)

 

$

(0.03

)

 

$

(0.08

)

 

$

(0.04

)

 

Contacts

Media and investors, for more Information, contact:

Roger S. Pondel
PondelWilkinson Inc.

310-279-5965

rpondel@pondel.com

Contact the Company:
David Neibert, Chief Operations Officer

949-429-5370

dneibert@themarygoldcompanies.com

The post  The Marygold Companies, Inc. Reports Financial Results for 2025 Second Fiscal Quarter appeared first on Fintech News.

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