Finovate Alumni News

On Finovate.com

  • Onfido Helps TransferGo Onboard New Users Faster.
  • Hydrogen Unveils FINDI Consortium to Boost Support for Public Blockchains.
  • Ondot Brings Card Control Technology to PSCU.

Around the web

  • AI Foundry teams up with ECM software provider MTS Software Solutions.
  • Joint solution between Jscrambler and Intertrust to provide protection for mobile and JavaScript apps.
  • Home Bank implements Loan Fulfillment Center (LFC) from Mortgage Cadence.
  • Tinkoff Bank begins offering loans to SMEs.
  • AlphaPoint hires Srikant Manda as Chief Information Security Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

AlphaPoint to Power DCEX, an XRP-Based Currency Exchange

Digital asset exchange platform AlphaPoint announced today it will power DCEX, a digital currency exchange platform powered by AlphaPoint’s blockchain technology.

DCEX will serve as a digital currency exchange for retail and institutional investors and is using Ripple’s digital currency, XRP, as its base currency. This move makes DCEX the first marketplace to use XRP exclusively. At launch, the exchange allows users to trade in 15 coin pairs, including the most popular currencies, Bitcoin, Litecoin, and Ethereum. The exchange plans to add more pairs later this year.

Features of the exchange include:

  • Conduct high-speed transfers between exchanges
  • Designed to facilitate up to one million transactions per second
  • Connect to APIs to facilitate high frequency crypto trading
  • Move XRP between DCEX and other marketplaces at a low cost

In a blog post announcement on Medium, Salil Donde, AlphaPoint CEO said, “We, as founders, have been in the crypto space since its inception… At DCEX we firmly believe that a true industry leader must be unrivaled in every element of the service it offers. We offer the excitement of trading, and provide you with the means to navigate the uncharted waters of cryptocurrency trading.”

The exchange will begin trading in a couple of weeks, but users can sign up for early access.

Founded in 2013, AlphaPoint powers digital asset networks and maintains the AlphaPoint Distributed Ledger Platform (ADLP), the platform on which the asset issuance and custody solution is based. The ADLP interoperates with more than 20 ledger technologies. At FinovateFall 2017, the company showcased the ADLP Reconciliation Platform, which combines blockchain-based asymmetric access controls and machine-enforced domain compliance for order management and other activities. The Reconciliation Platform reduces time and cost associated with manual, post-trade reconciliation processes.

In June of this year, AlphaPoint raised $15 million in funding, bringing its total capital to $16.6 million. Last week, the company appointed Kristin Boggiano as Chief Legal Officer.

Finovate Alumni News

On Finovate.com

  • CoverHound to Help Intelligent Customers to Shop Around for Renter’s Insurance.
  • AlphaPoint to Power DCEX, an XRP-Based Currency Exchange.
  • ebankIT to Power Digital Banking for Coast Capital.

Around the web

  • Fiserv forges strategic alliance with cybersecurity firm, BlueVoyant.
  • mBank and Commerzbank to launch pan-European challenger bank.
  • Gartner recognizes i-exceed as a “Niche Player” in its Magic Quadrant for Mobile Application Development Platforms (MADP).
  • Finance Magnates features a profile on the Ledger Nano S hardware wallet.
  • Caja Sullana leverages credit scoring from LenddoEFL to provide young entrepreneurs access to credit.
  • Insuritas to launch a member owned insurance agency for America’s Credit Union and its 47,000 members.
  • NIIT Technologies recognized as ‘Star Performer’ on the 2018 Everest Group PEAK Matrix Insurance Application Services.
  • Glassdoor ranks Kasasa CEO Gabe Krajicek 45th in the Top 50 CEOs at Small and Medium Companies in the United States.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Flywire Raises $100 Million for Global Expansion.
  • Five Degrees Acquires Icelandic IT Software Company Libra.
  • Yoyo Tops One Million User Milestone.
  • Coinbase Enables European Customers to Buy Virtual Gift Cards with Crypto.

Around the web

  • The Motley Fool interviews Q2 Holdings CEO Matt Flake.
  • AlphaPoint hires Kristin Boggiano as Chief Legal Officer.
  • Entrust Datacard unveils TruCredential 7.5 software that enables tablet and mobile-based capture and issuance of ID cards.
  • America’s Credit Union partners with Insuritas to launch member owned insurance agency.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Baker Hill Inks Loan Origination Deal with West Texas State Bank.
  • Finicity and Cre8tech Labs’ Lender Price Partner to Streamline Digital Lending.

Around the web

  • LendInvest partners with Onfido to bring identity verification to LendInvest’s Buy-to-Let digital applications.
  • Malauzai and Somerset Trust Company declare August 20th as National Fintech Day.
  • Thomson Reuters launches Compliance Management solution, an addition to its Connected Risk platform.
  • Ripple announces the transition of David Schwartz from Chief Cryptographer to Chief Technical Officer.
  • Identity verification startup Sedicii earns a finalist spot in BBVA’s Open Talent competition.
  • Barclays to deploy Finastra’s Fusion Loan IQ system.
  • AlphaPoint wins Best Distributed Ledger Technology Provider by the 2018 Water Technology customer survey.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

AlphaPoint Raises $15 Million in Series A Led by Galaxy Digital Ventures

AlphaPoint, a New York-based fintech that leverages distributed ledger technology to enable financial institutions to digitize, trade, and manage any asset, is celebrating its fifth anniversary with news that it has raised $15 million in new funding. The Series A round was led by Galaxy Digital Ventures, and brings the company’s total capital to $16.6 million. AlphaPoint says it will use the funds to double the size of its team by year’s end.

“We are delighted to have Galaxy Digital Ventures as a strategic investor who shares our vision to unlock the value of illiquid assets for a wider audience of investors and traders,” AlphaPoint CEO Salil Donde said. “This investment allows us to continue our focus on our customers’ success.”

Galaxy Digital Ventures managing director Greg Wasserman credited AlphaPoint for having the combination of talent and technology in order to take advantage what he called a “tremendous” demand for the digitization of illiquid assets. AlphaPoint estimates the total value of the illiquid asset market – including gold and real estate – at more than $11 trillion and sees its technology as a way to provide badly needly liquidity. “Consumers are demanding increased access, transparency, and trust,” said Wasserman, who will join AlphaPoint’s board of directors as part of the strategic investment. “Businesses are seeking increased liquidity with reduced fraud, risk, and cost.”

Founded in 2013, AlphaPoint demonstrated its AlphaPoint Distributed Ledger Platform (ADLP) at FinovateFall 2017. The general-purpose blockchain platform streamlines the deployment of distributed financial applications, and enables financial institutions to participate in digital asset issuance, confidential smart contracts, and automated workflows. Running in live production since 2013, the solution has facilitated  transactions totaling more than $100 billion to date for platform customers. The company’s partners include Intel – with whom AlphaPoint teamed up last fall – Microsoft, and RedHat. The CME Group, London Block Exchange, and BTCC are a few of AlphaPoint’s more than 30 global clients.

Earlier this year, AlphaPoint announced completion of a blockchain trial with Scotiabank that explored a variety of use cases for the company’s ADLP. In April, AlphaPoint teamed up with CME Group and The Royal Mint to support the Royal Mint Gold initiative, a trading platform for digital gold. And last month, AlphaPoint introduced its Regulated Asset Backed Token (RABT), a new framework designed to support the launch of blockchain tokens supported by regulated assets. The goal is to leverage blockchain technology to add liquidity to the real estate market.

Donde took over the CEO spot at the company last fall – at the same time AlphaPoint unveiled plans for a new public blockchain network. He arrived at AlphaPoint after serving as EVP of Global Information Services at Nasdaq.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Raises $15 Million in a Series A Led by Galaxy Digital Ventures.
  • Nextmarkets Picks Up $6.9 Million in New Funding.

Around the web

  • NetSuite names Expensify Innovation Partner of the Year.
  • Passport hires its first Chief Corporate Development Officer.
  • Signicat to offer Freja eID for customer onboarding thanks to partnership with IT security firm, Verisec
  • Equifax appoints former IBM Watson and Cloud Platform CTO Bryson Koehler as its new Chief Technology Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

AlphaPoint Names New CEO, Plans for New Public Blockchain Network

 

Blockchain innovator AlphaPoint has announced plans to build a new public blockchain network that will enable users to digitize real-world assets and monetize them across new markets.  The network, dubbed the AlphaPoint Public Network (APN), will be the first public blockchain built based on Intel SGX technology. AlphaPoint will fund the project via a pre-functional token sale to accredited investors in early 2018.

AlphaPoint’s goal with the APN is to create a “confidential, high-performance public blockchain” that supports tokenization of real-world assets. The company differentiates its planned solution in three ways: (1) the ability to provide hardware-enforced confidentiality of asset data and smart contracts, (2) the ability to migrate tokenized assets across supported public and private blockchains, and (3) the use of JavaScript and TypeScript to simplify blockchain development.

The news marks the second time in as many months that AlphaPoint has put Intel’s Software Guard Extensions technology in the headlines. In October, AlphaPoint launched its trusted virtual machine, AlphaPoint TrustedVM, which is enabled by Intel SGX technology. “Our collaboration with AlphaPoint aims to deliver enterprise-ready blockchain solutions to the financial services community,” Intel’s Rick Echevarria said. “AlphaPoint is expanding blockchain use cases to include illiquid assets, art, collectibles, and real estate, and use of Intel SGX will help increase the security and privacy of those transactions.”

AlphaPoint also named a new Chief Executive Officer, Salil Donde. Donde previously served as EVP of Global Information Services at Nasdaq, where he was instrumental in launching numerous machine learning-based products, data products, indexes, and sponsored exchange-traded funds (ETFs). Donde was CEO and board member of Lewtan Technologies before moving to the Nasdaq in 2015. Previous to his tenure at Lewtan, he was CEO and board member of proptech firm Marshall & Swift/Boeckh (now a part of CoreLogic).

Founded in 2013 and headquartered in New York City, AlphaPoint demonstrated its AlphaPoint Distributed Ledger Platform (ADLP) at FinovateFall 2017. Last month Capital Trust Group and W Ventures (Hong Kong) choose AlphaPoint to provide the blockchain financial technology infrastructure for Trust City, a world exhibition and fintech hub in Thailand that is scheduled to be finished in 2020. In May, AlphaPoint unveiled its solution for initial coin offerings (ICOs), and in March, the company completed a blockchain trial with Scotiabank.

Finovate Alumni News

On Finovate.com

  • AlphaPoint Names New CEO, Plans for New Public Blockchain Network.
  • FI.SPAN Enables Banks to Maximize the Opportunity of Open Banking.

Around the web

  • Thomson Reuters enhances ESG data monitoring capabilities for its Eikon solution.
  • Symphony Software Foundation adds to its Open Developer Platform.
  • Turkiye Garanti Bank, Turkey’s second largest private bank, to deploy customer analytics technology from NICE.
  • Cardlytics taps Jed Murphy as new U.K. Head of Strategy and Innovation.
  • Avoka bolsters executive ranks with two new SVPs, Director of Sales.
  • Moxtra wins spot in Prudential PRU Fintegrate program.
  • Wealth management platform aixigo wins Banking IT-Innovation Award from Business Engineering Forum of the University of St. Gallen in Switzerland.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

AlphaPoint Teams with Intel to Launch Secure Smart Contracts Solution

One way to make a smart contract even smarter is to enhance document access and security. Digital currency exchange platform AlphaPoint has achieved that with today’s partnership with Intel. The two have teamed up to launch TrustedVM, a solution for secure smart contracts that enhances AlphaPoint’s Asset Digitization solution.

TrustedVM leverages Intel’s Software Guard Extensions (SGX) technology to enable smart contracts and any set or subset of blockchain data to remain confidential. The data is protected against access by intermediaries and network participants to boost the security of AlphaPoint’s Distributed Ledger Platform (ADLP).

“Our collaboration with AlphaPoint aims to deliver enterprise-ready blockchain solutions to the financial services community,” said Rick Echevarria, Vice President of Software and Services Group and General Manager of the Platforms Security Division at Intel. “AlphaPoint is expanding blockchain use cases to include illiquid assets; art, collectibles, and real estate, and [the] use of Intel SGX will help increase the security and privacy of those transactions.”

AlphaPoint’s President and COO Igor Telyatnikov noted that the company’s customers seek the benefits of the blockchain but don’t want the security and privacy issues that typically come with existing blockchain solutions. Since smart contracts execute inside TrustedVM, the hardware layer ensures that unpermissioned parties never have access to the data.

Founded in 2013, AlphaPoint powers digital asset networks and maintains the AlphaPoint Distributed Ledger Platform (ADLP), the platform on which the asset issuance and custody solution is based. The ADLP interoperates with more than 20 ledger technologies. Earlier this year, the company launched a crowdfunding capability on the ADLP, which enables users to host ICOs. The ICOs issue newly created digital assets on the exchange, which is hosted on AlphaPoint’s infrastructure.

At FinovateFall 2017, the company showcased the ADLP Reconciliation Platform, which combines blockchain-based asymmetric access controls and machine-enforced domain compliance for order management and other activities. The Reconciliation Platform reduces time and cost associated with manual, post-trade reconciliation processes. The company was recently selected by Capital Trust Group and W Ventures to create a blockchain infrastructure for Trust City. AlphaPoint is headquartered in New York, has raised $3 million, and has 30 employees.