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Tether AC Set to Collaborate with Sol x Foundation to Launch Sol x USDT, Create Regulatory and Compliance Across Europe and Asia

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Summary: Tether AC, a top-notch blockchain-enabled platform is making waves by partnering with Sol x Foundation to launch Sol x USDT.

In the latest record, Tether AC set to collaborate with Sol x Foundation to launch the Sol x USDT, aimed at regulatory and compliance across Europe and Asia. Globally recognized financial institutions are developing blockchain-based financial products to compete with Sol x Chain. This effort has led to the formation of the Sol x Foundation, which is collaborating with Tether AC on the development of Sol x USDT, a new stablecoin designed for global markets.

The Sol x Foundation’s mission is to explore innovative ways to ensure the legal use of blockchain technology in regions such as the USA, Europe, Asia Pacific, China, Hong Kong, and Singapore, where governments are actively developing digital currencies. Sol x USDT will be authorized by the Sol x Foundation and could become a model for regulatory compliance, especially within the rapidly expanding web3 space.

As regulatory pressure intensifies, the launch of Sol x USDT is expected to replace the current USDT across all exchange platforms by 2025. This strategic collaboration between Tether AC and the Sol x Foundation aims to ensure compliance with both European and Asian regulations, positioning Sol x USDT as the preferred stablecoin for exchanges in these regions. This shift will enable exchanges to maintain regulatory standards while continuing to offer stablecoin services to users.

As blockchain technology continues to advance, the partnership between Tether AC and the Sol x Foundation marks a significant step in the development of compliant digital assets. With the regulatory landscape becoming increasingly complex, collaborations like these could offer a pathway for stablecoins to thrive both in Europe and globally while adhering to MiCA and similar regulations in Asia. 

In addition, the Sol x Foundation is also developing a new web3 blockchain with Layer 3 support, called Sol x Chain. Based on Solana 1.0, this blockchain has been upgraded to the Solana X Chain, leveraging Chainlink Technology to integrate financial and investment databases. Through this integration, Sol x Chain aims to create a secure, efficient ecosystem for digital assets by linking data from financial institutions and exchanges.

By collaborating with others, the platform aims to establish Sol x Chain as a leader in blockchain finance, providing the infrastructure for decentralized finance (DeFi) and investment services worldwide. The success of Sol x USDT and Sol x Chain could reshape the stablecoin landscape, offering innovative solutions that meet legal requirements without stifling the progress and potential of blockchain technology.

Media Contact:

Solana X Foundation

Mariya Spartalis

Mariya@solxfoundation.io

https://solxfoundation.io/ 

London, United Kingdom

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Press Release

ZainTECH, FICO, and LEAN partner with Tamam to drive AI-Powered innovation in Saudi Arabia’s Fintech Sector

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9 mins ago

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November 1, 2024

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  • Four-party collaboration will result in the region’s first-of-its-kind AI-driven credit assessment model in the Kingdom, leveraging open banking data to drive financial inclusion
  • The enhancement to Tamam’s microlending platform will revolutionize the consumer finance landscape, providing personalized, secure and data-driven financial solutions

Tamam, a Zain fintech and leader in Saudi Arabia’s microlending sector, is collaborating with ZainTECH, FICO, and Lean Technologies to develop cutting-edge, AI-driven data solutions specifically tailored to the Saudi consumer finance market. The alliance will result in the region’s first-of-its-kind AI-driven credit assessment model in the Kingdom, leveraging open banking data to drive financial inclusion, underscoring the Kingdom’s ambitious Vision 2030, aimed at positioning Saudi Arabia as a global leader in fintech innovation, and aligns with the regulatory framework set by the Saudi Central Bank.

The strategic partnership brings together four key players to explore and integrate advanced AI applications and open banking technologies to enhance Tamam’s platform. Through this collaboration, Tamam aims to revolutionize the consumer finance landscape, providing personalized, data-driven financial solutions that cater to the evolving needs of Saudi customers.

Tamam is a leading one-stop shop for financial services in Saudi Arabia, providing individuals with the opportunity to receive Shari’a-compliant loans without physically visiting a bank location. The platform’s end-to-end application and award process takes just minutes from the time of downloading the app to the loan amount being paid out. Loans are provided to Saudi nationals and residents, without the requirement of a salary transfer or guarantor, with a finance amount up to SAR 50,000 available for a 24-month tenure.

Yousef Al Musaileem, CEO of Tamam, commented, “This strategic partnership marks a significant milestone in Tamam’s journey toward becoming a leader in AI-powered financial services in the Kingdom. By leveraging the expertise of leading-edge technology partners, we will deliver innovative, secure, and customer-centric solutions that meet the needs of our customers as well as contribute to Saudi Arabia’s 2030 vision of becoming a regional fintech hub.”

Andrew Hanna, CEO of ZainTECH said, “The importance of digital data and AI in driving significant predictive capabilities that fintech pioneers like Tamam can utilize to improve customer experiences is significant. This four-party collaboration to accelerate the delivery of new innovative fintech propositions, reinforces our ambitions to drive digital transformation and empower growth of enterprises in Saudi Arabia, further substantiated by ZainTECH’s recent opening of offices in Riyadh.”

Combined, the partnership leverages: 

– Tamam (Tamam.life) will define key business requirements and use cases, ensuring the solutions developed are practical, relevant, and secure for its customer base. Tamam will also prioritize stringent data protection and anti-fraud measures to maintain customer trust and comply with the Saudi Central Bank’s regulatory framework.

– ZainTECH (ZainTECH.com) the integrated digital solutions provider of Zain Group and lead technology provider, will oversee the deployment of AI-driven solutions across Tamam’s platform, ensuring compatibility and scalability while enhancing system efficiency and security.

– FICO (FICO.com) a global analytics software leader, will deliver AI use cases focused on predictive credit scoring, risk assessment, and customer behavior analytics, driving value through personalized financial insights.

– Lean (Leantech.me) will facilitate secure, compliant data connectivity through its open banking technology, ensuring seamless real-time data integration while adhering to the strict regulations set forth by the Saudi Central Bank.

Collaborative Innovation for Vision 2030

This partnership represents a significant step forward in the Kingdom’s efforts to lead the region in fintech innovation. The advanced AI-driven solutions being developed will enable Tamam to offer its customers a more personalized, secure, and seamless financial experience. This collaboration directly supports Vision 2030, under the supervision and regulation of the Saudi Central Bank.

Data Security and Protection

A key focus of the partnership is ensuring the highest standards of data protection and security. The parties have committed to strict protocols for secure data sharing and confidentiality, utilizing Lean’s open banking technology to facilitate compliant data exchanges. These measures will bring cutting-edge technology to the Saudi financial market, enhancing transparency, trust, and customer privacy.

All four organizations (Tamam; ZainTECH; FICO and Lean) reaffirmed their commitment to driving innovation in the Saudi fintech landscape by enhancing Tamam’s offerings and contributing to the broader objectives of Saudi Arabia’s Vision 2030.

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Press Release

Announcement of the Launch of Toho Entertainment Asia Operations in Singapore

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2 hours ago

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November 1, 2024

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Singapore – Toho Co., Ltd. (hereinafter referred to as “the Company”) is pleased to announce that its subsidiary, Toho Entertainment Pte Ltd (hereinafter referred to as “TEA”), established in Singapore, and officially commenced operations on November 1, 2024. TEA will serve as a key base for the Company’s expansion into the Asian region, which is expected to see significant growth, focusing on IP and visual content licensing, product merchandising, marketing, and more.

Background and Purpose of TEA’s Establishment

Under our “TOHO VISION 2032” corporate strategy, the company has identified “Content & IP,” “International Expansion,” and “Animation” as its primary growth pillars. This vision aims to strengthen the creation and development of captivating content and IP while expanding business into international markets with significant growth potential. As part of this strategy, TEA was established in Singapore in February 2024, a hub for numerous Japanese companies, to act as a strategic base for expansion in the Asian market.

Leveraging the expertise the Company has gained in Japan and North America, TEA will work to better understand the distinct needs and preferences of each market in Asia, allowing the Company to engage with audiences more deeply. Through this initiative, the Company aims to expand the licensing, merchandising, and other business opportunities of popular IPs such as Godzilla and TOHO Animation titles.

Global Business Initiatives and Future Prospects

To strengthen the global reach of key properties, such as Godzilla and TOHO Animation productions, In North America, Toho International, Inc. (hereinafter referred to as “TI”) has already made significant progress in expanding the Company’s business activities overseas.

To enhance agility and responsiveness in decision-making and business development, the Company established Toho Global Inc. (hereinafter referred to as “TG”) as a separate entity in October 2023. TEA was subsequently founded as a TG subsidiary to lead the Company’s growth initiatives in Asia.

The Company has also pursued M&A activities to strengthen its global presence, including investments in Thailand’s animation studio ‘IGLOO STUDIO’, U.S.-based streaming media production and distribution company ‘FIFTH SEASON’, and the acquisition of North American anime distributor ‘GKIDS’.

Along with TG, the Company will continue to explore new global expansion opportunities beyond North America and Asia to support and accelerate its international business growth.

“Our IPs and works, including Godzilla, have already gained significant recognition and popularity in various Asian markets outside of Japan. With the establishment of our local entity in Singapore, we aim to gain a deeper understanding of the specific needs of fans and the unique characteristics of each market. This will enable us to enhance engagement with our IPs and works. This initiative is part of our broader strategy to deepen our presence in markets where we have primarily focused on promotion in North America. Through this effort, we hope to bring even more joy to our audiences across Asia.” by Koji Ueda, CEO of TG.

Details of TEA

Location          : Republic of Singapore

Key Personnel: Koji Ueda (CEO), Fabio Murayama (Managing Director)

Date of Establishment: February 29, 2024

Start of Operations: November 1, 2024

Shareholder: Toho Global Inc.

Main Business Activities: Licensing of IP and visual content, marketing, merchandising business

Contact Information

TOHO Global Inc.

Koji Ueda, k_ueda@toho.co.jp

Takaaki Nakazawa, t_nakazawa@toho.co.jp

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Press Release

Representatives from Over 87 Countries to Participate in the International Symposium “Creating the Future”

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2 hours ago

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November 1, 2024

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The International Symposium “Creating the Future” will gather speakers, delegates, artists, and journalists from more than 87 countries. The symposium marks the inaugural event of the National Center “Russia,” established by order of the President of the Russian Federation.

Renowned scholars, philosophers, futurists, popular science fiction writers, business leaders, and representatives of the creative industries from Russia, China, India, Italy, Iran, the UAE, Kazakhstan, Serbia, France, the USA, and other nations have already confirmed their attendance at the symposium. The event will bring together approximately 3,000 participants from the SCO, BRICS, CIS, and other nations to discuss Earth’s future, the societal impact of technology, humanity’s role in civilization, and crucially, the concept of humanity’s future form.

Tatiana Kareva, Head of the International Cooperation Department of the National Center “Russia,” highlighted, “The International Symposium ‘Creating the Future’ will serve as a platform for dialogue among scientists, science fiction writers, artists, business representatives, and government officials. It is very significant to the National Center ‘Russia’ that its inaugural event has sparked such keen interest. Representatives from over 87 countries have responded to our initiative to create the future together. We are grateful to the Russian Ministry of Foreign Affairs and to everyone assisting in holding this important event.”

International participants have already started arriving in Russia. Among them are artists Rafael Btesh and Monica Da Silva De Queiroz from Brazil, as well as Agengue Adane Dilnesahu and Usman Hassan Mohammed, the director and deputy director of the School of Fine Arts and Design at Addis Ababa University. Special sightseeing programs around Moscow have been arranged for them.

Symposium attendees have shared their expectations for the event as well. Investigative journalist Vesna Veizovic from Serbia remarked, “I believe that the International Symposium ‘Creating the Future’ will open up vast opportunities for exchanging ideas on shaping a society ready to face everyday challenges while preserving traditional values.” John Molera, Director of Policy and Research at DD Geopolitics from the United States, added, “I hope to find inspiration at the symposium from people worldwide who envision humanity’s future beyond Western neoliberalism. Our goal is to create a movement that respects traditions and interests, founded on mutual recognition and cooperation.”

The International Symposium “Creating the Future” will be held from November 4 to 6 at the National Center “Russia,” with participants including scientists, researchers, futurists, forecasters, science fiction writers, and government officials. The symposium will offer a unique international platform for open dialogue on humanity’s development scenarios and contemporary global challenges. The program will feature over 60 events across four main themes: the Future of Humanity, the Future of Technology, the Future of a Multipolar World, and the Future of Civilization.

Representatives from over 40 countries, including Austria, Argentina, India, China, the UAE, Saudi Arabia, and more, will participate. The symposium’s program is available on the website at https://future.russia.ru/, where live streams of the events will also be accessible during the symposium.

The opening of the symposium will launch an exhibition focused on dialogue about humanity’s future, placing human beings at its center. This exhibition aims to help each visitor recognize the importance of their personal contribution to the future.

Media Contact: pressa@russia.ru
National Center “Russia” website: https://russia.ru/
Symposium “Creating the Future” website: https://future.russia.ru/
Telegram: https://t.me/gowithRussia
VK: https://vk.com/gowithrussia
OK.ru: https://ok.ru/gowithrussia

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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