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Polygon (MATIC) Japanese Boom & TMS Network’s Crypto Dominance: Revolutionizing the Trillion-Dollar Market

By
TI Partners
-
0

In a wave of transformative change, Polygon (MATIC) and TMS Network are redefining the blockchain landscape on a global scale. Polygon (MATIC) has captivated the Japanese market, driving Web3 innovation and carving a path toward disrupting the trillion-dollar markets.

Simultaneously, TMS Network (TMSN) is asserting its authority in the crypto world, attracting significant attention with its surging presale. The combined impact of Polygon (MATIC) and  TMS Network not only underlines the growing acceptance of blockchain technology but also signals a new era in financial markets.

Japan’s Blockchain Revolution: Polygon (MATIC) Paving the Path

Japan is experiencing an extraordinary rebirth in the blockchain world. Recovering from the fallout of the 2011 MtGox incident, Japan’s progressive pivot towards Web3, the next internet generation anchored by blockchain technology, is gaining momentum. This transition is buoyed by the government’s staunch commitment to fostering a rich Web3 ecosystem. Both the public and corporate sectors mirror this enthusiasm, and Polygon (MATIC) trailblazing role is critical in driving this evolution.

KDDI, Japan’s top mobile carrier, launched ?U, a Web3 service, and metaverse enabled by the Polygon (MATIC) network. This service encapsulates the seamless integration of real and virtual worlds, a cornerstone of Polygon’s (MATIC) vision. Non-fungible tokens (NFTs), a novel form of digital assets, have also gained wide acceptance, and Polygon (MATIC) technological prowess is central to this adoption.

The entertainment sector is not far behind, with Polygon’s (MATIC) blockchain technology powering digital comics and token-based services. Polygon (MATIC), with its innovative and scalable solutions, is leading Japan’s transformation into a significant global hub in the blockchain landscape. The multifaceted applications of Polygon (MATIC) technology illustrate Japan’s vibrant and diverse approach to blockchain adoption.

TMS Network’s Blockchain Breakthrough: Ushering a New Era in the Crypto Sphere

TMS Network (TMSN) is making substantial strides with its distinctive features and promising prospects in the crypto world. With its capacity to facilitate direct derivatives trading using cryptocurrencies, the platform is a powerful tool for the modern trader. Furthermore, it offers users the convenience of linking their digital wallets to the TMSN platform, enabling them to carry out transactions while retaining control of their assets. This inclusive platform ensures all users, including those without a registered account, can avail themselves of its extensive functionalities.

As a beacon of potential profits, TMS Network (TMSN) attracts investors who benefit from commissions tied to the platform’s trading volume. This incentivized structure extends to tradable assets like cryptocurrencies, foreign exchange, equities, and contracts for difference. With MetaTrader 4 and 5 compatibilities, TMS Network solidifies its standing as a comprehensive trading ecosystem.

In its presale phase, TMS Network (TMSN) presents its tokens at a competitive price of $0.104 with an enticing limited-time bonus of 50%. With industry analysts forecasting a bullish trend and a projected value of $2.20 by the end of 2023, TMS Network’s market dominance is poised to grow, affirming its revolutionary role in the trillion-dollar market.

Presale: https://presale.tmsnetwork.io

Website: https://tmsnetwork.io

Telegram: https://t.me/TMSNetworkIO

Twitter: https://twitter.com/@tmsnetwork_io

Sparklo (SPRK) Outshines Mina (MINA) And Iota (MIOTA) As Crypto Price Fluctuation Thickens

By
TI Partners
-
0

The recent decline witnessed in the crypto market has led to many investors losing their fate in many of them. While the crypto market tries to recover from the crash, Sparklo has continued to gain more popularity. The benefits of the Sparklo project have attracted many investors to the project.

Meanwhile, Mina (MINA) and Iota (MIOTA) are still struggling to maintain stability and join the bull market.  Let’s explore Sparklo and see why it has become a sought-after cryptocurrency.

Sparklo (SPRK) is using cryptocurrency to decentralize the precious metals industry

The precious metals industry has often been an exclusive reserve of the rich and influential, with average earners having little to no chance of getting into the industry. However, the story is set to change with the introduction of Sparklo, an Ethereum-based precious metals marketplace. Sparklo will allow investors to buy, sell or own timeless solid treasures like Silver, Gold and Platinum. Investors can trade these assets using fractionalized NFTs which are in the form of digital placeholders for these treasures. Purchasing the entire NFT will give the investor access to owning the precious metal and also having it shipped to the investor’s desired location.

Sparklo has been audited by Interfil Network and the KYC checks have been completed to further prove its transparency and reliability. To assure the safety of investors’ funds, the platform aims to lock the token liquidity for 100 years and the team token for 1000 days. As part of the decentralization, jewellery stores will also be accommodated as part of this groundbreaking investment.

Sparklo is currently trading at $0.036 per token. Crypto experts have predicted that the SPRK token’s value will rise by 1,500% before the end of the year. Investors that purchase the Sparklo token now will be given a 50% bonus. This offer will expire soon. Which means you have limited time to benefit from it. Click the link below to invest.

>>>> BUY TOKENS <<<

Holders are in a joyous mood as Mina (MINA) starts to increase

Mina (MINA) is a crypto project that is working on achieving an efficient distributed payment system that allows users to natively verify the platform right from the genesis block. Holders of Mina (MINA) coin are excited about the recent performance of Mina (MINA), which has resulted in a significant price increase in the past few hours. Mina (MINA) which has been battling the bear market, has risen in the past few days.

Mina (MINA) has increased by 2% in the past few hours and currently trading at 0.54. Mina (MINA) has lost 1% in value in the past few days with the price curve showing signs of an upward price movement. While Mina (MINA) coin holders remain hopeful of a rally soon, some of them have joined the trending Sparklo project to make gains.

Iota (MIOTA) surges to further intensifies bull market speculations

Iota (MIOTA)  is an open-source distributed ledger and cryptocurrency developed for the internet of Things (IoT). Iota (MIOTA) had a massive turnaround in the last few hours, with the price chart going upwards. Iota (MIOTA) has appreciated by 1.80% in the last few hours and currently trading at $0.20. This means Iota (MIOTA) has reached the $0.20 benchmark. This will be a huge relief for Iota (MIOTA) coin holders as the coin positions itself for a rally. Iota’s (MIOTA) 24-hour trading volume is also impressive and currently stands at $7.44 million.

The recent increase in the price of Iota (MIOTA) is giving hope for optimism as the desire for a bull run thickens. However, crypto analysts don’t see  Iota (MIOTA) offering significant gain to its coin holders. As such, Iota (MIOTA) coin holders have joined the latest Sparklo project to make Profits.

 

Find out more about the presale with the links below;

Click here to buy presale

Check out the website

Check out the telegram channe

Nigeria: Registration Requirements For Commodity Exchanges, CBN Guidelines On Large Exposures (LEX)

By
Emmanuel Ifeanyi Ogbuka
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0

Registration Requirements For Commodity Exchanges in Nigeria.

A commodity exchange is an exchange or market where various commodities are traded. Most Commodity markets usually deal in raw materials and agricultural products, with trading involving derivative contracts based on these commodities in the form of forwards, futures and options as well as spot trades. A good example of a commodity exchange is the Nigerian Commodity Exchange. 

Registration of commodity exchanges in Nigeria is governed by the Securities and Exchange Commission (SEC) and its requirements will be the focus of this article .

Registration requirements for commodity exchanges are grouped into:-

– Payment requirements

– Sponsored Individuals & Director requirements

– Applicant Company requirements

Payment Requirements

  1. Evidence of payment of a filing/application fee of 50 Thousand Naira.
  1. Evidence of payment of a processing fee of 200 Thousand Naira.
  1. Evidence of payment of a registration fee of 1Million Naira.
  1. Evidence of payment of a sponsored individual fee of 50 Thousand Naira per sponsored individual.
  1. A minimum paid up capital of 500 Thousand Naira.
  1. A current fidelity insurance bond covering at least 25% of the minimum paid-up capital as stipulated by the SEC rules and regulations.

Sponsored Individuals & Directors

  1. A minimum of 4 sponsored individuals, one of whom shall be a compliance officer.
  1. The managing director of the company is to be among the sponsored individuals.
  1. Full postal addresses of immediate previous employers, bankers (with current account numbers) and nominated referees of sponsored individuals.
  1. Detailed CVs of sponsored individuals and directors which should include dates & details of activities arranged from secondary school to date .
  1. Copies of credentials of sponsored individuals including secondary school and NYSC certificates with originals for sighting purposes.
  1. Evidence of having the minimum 4(Four) years post-graduation experience needed to perform the function as stipulated by SEC rules and regulations. 
  2. Police clearance reports for each sponsored individual. Each sponsored individual is to report at the SEC Head office or Lagos xonsl office with 2 recent passport photographs for the process.
  1. Valid means of identification.

Applicant Company Requirements

  1. A profile of the company.
  1. The names of addresses of the company’s subsidiaries and percentage holdings as well the type/nature of the businesses.
  1. Evidence of payment of shares allotted to the shareholders.
  1. Information relating to its market trading facilities.
  1. A copy of the form for the general undertaking of members.
  1. Operational manual and organizational chart of the company. 
  1. A business plan.
  1. Bank statements for accounts operated by the company for the last 6 months. 
  1. Copies of the company’s certificate of incorporation.
  1. A copy of the company’s memorandum/articles of association.
  1. Corporate Affairs Commission (CAC) forms showing statement of share capital, return of allotment and particulars of directors with originals to be presented for sighting. 
  1. A notarized sworn undertaking to abide by SEC Rules and Regulations as well as the Investment & Securities Act (ISA).
  1. A notarized sworn undertaking by members of the company on its board of directors and who also have interests in companies whose commodities are being traded or could be traded on the exchange.
  1. A sworn undertaking signed by a director of the company or its company secretary to comply with and to enforce compliance by its members with the ISA  & SEC Regulations.

 The CBN Guidelines On Large Exposures (LEX)

The Central Bank of Nigeria (CBN) released in September 2021, a set of guidelines aimed at aligning its supervisory role in Nigeria with the expectation of the Basel Committee on Banking Supervision (BCBS) standards on Large Exposures (LEXs or LEs) & ensuring a more consistent supervisory approach to dealing with large exposures in Nigeria.

This article will be looking at the provisions of the guidelines and their implications.

Are the guidelines to operate alone as a supervisory mechanism of the CBN?

No, the guidelines are designed to compliment existing guidelines on Risk-Based capital requirements.

What are the objectives of the guidelines?

The objectives of the guidelines are to :- 

– Restrict the level of exposures to a single counterparty or group of connected counterparties so as to ensure that the maximum loss in the event of a sudden default of a counterparty would not endanger a bank’s survival as a going concern.

– Reducing the vulnerability of the Nigerian Banking system to idiosyncratic risk due to large exposures to individual counterparties.

– Contributing to the stability of the Nigerian Financial System.

What is the scope of application of the guidelines?

The guidelines shall apply to all commercial, merchant & Non-Interest banks operating in Nigeria at both the entity and consolidated levels.

What is the scope of the term “counterparties” under the Guidelines and their exceptions? 

The guidelines apply to all bank exposures to single counterparties and groups of connected counterparties irrespective of their perfection or the quality of any pledged collateral, with the following exceptions :-

– exposures to the Federal Government of Nigeria and state governments guaranteed by the FGN which are eligible for a Zero percent risk weight;

– exposures to the CBN;

– exposures where the principal and interest are fully guaranteed by the FGN;

– exposures secured by financial instruments issued by the government of Nigeria;

– intra-day interbank exposures.

What exactly is a large exposure?

The guidelines define a large exposure as the sum of all exposures of a bank to a single counterparty or to a group of connected counterparties that are equal to or above 10% of shareholder’s funds unimpaired by losses.

What do the guidelines require mainly for Banks with large exposures?

The guidelines state that banks shall report their large exposures to the CBN on a monthly basis as per approved templates.

What is the limit for large exposures? 

The sum of all exposure values of a bank to a single counterparty or to a group of connected counterparties must not be higher than 20% or 50% of the bank’s shareholders fund unimpaired by losses for a commercial or merchant bank respectively.

What is an exposure value?

An exposure value is simply the accounting value of an exposure.

France Invests $3.1 Billion to Boost Chip Production

By
Samuel Nwite
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0

France is investing $3.1 billion into chip production, joining other countries seeking to expand their semiconductor industry amid growing global chip demand.

The fund will be used to build microchip factories, according to officials’ statement on Monday.

The chip industry has seen accelerated growth since the outbreak of covid-19, triggering a heated global competition in the lucrative market.

The US and China are leading the competition with tight policies aimed at boosting local production. But Europe has joined the race – passing the Chips Acts to boost investment in the sector.

Chips, which are vital for every electronic device, from smartphones to electric cars, have come to the center of an economic war between China and the US recently. The US Chips Act comes with over $50 billion in incentives to encourage local production.

In April, the European Union passed the Chips Act to reduce the bloc’s vulnerabilities and dependencies on foreign actors.

The new rules aim at “doubling the EU’s global market shares in semiconductors from 10% to at least 20% by 2030”, and are expected to “improve the EU’s security of supply, resilience and technological sovereignty in the field of chips.”

The European Chips Act is expected to unlock 43 billion euros of investment.

The European semiconductor industry is currently experiencing supply challenges due to geostrategic issues and supply chain disruptions. Supply chain has become a major priority for the world’s biggest trading blocs.

France’s economy ministry said the state aid was the biggest subsidy it had offered since 2017, and would go towards a 7.5-billion-euro project announced last year to be run by European multinational STMicroelectronics and US company GlobalFoundries, according to France24.

The French ministry said the project, in the Alpine town of Crolles near Grenoble in southeastern France, would boost European production capacity by almost six percent by 2028, per France 24.
Demand for chips skyrocketed during the pandemic as activities shifted online. The shift, which came with a shortage of chips, impacted production across many sectors and triggered the global race for the control of supply the chain.

Europe has relied on foreign supplies to keep its industries running for years, with Taiwan being the bloc’s major supplier.

The adoption of the EU Chips Act provides for the Council to pass an amendment of the Single Basic Act (SBA) for institutionalized partnerships under Horizon Europe. This is to allow the establishment of the Chips Joint Undertaking, which builds upon and renames the existing Key Digital Technologies Joint Undertaking, according to the bloc.

Increased chip production in the EU is expected to reduce the influence of the US and China in the global semiconductor supply chain.

Understanding What SEC’s Security Assets are

By
Paul Ugbede Godwin
-
0

The Securities and Exchange Commission (SEC) is a federal agency that regulates the securities markets in the United States. The SEC’s mission is to protect investors, maintain fair and orderly markets, and facilitate capital formation.

One of the SEC’s responsibilities is to define and classify different types of securities, which are financial instruments that represent ownership or debt obligations in a company, a government, or another entity. Securities can be traded on exchanges or over-the-counter markets, and they can have various features and risks.

One of the categories of securities that the SEC defines is security assets. Security assets are securities that are backed by specific assets, such as mortgages, loans, receivables, or leases. Security assets can also be called asset-backed securities (ABS) or securitized products.

Security assets are created when an entity (called the originator) sells a pool of assets to another entity (called the issuer), which then issues securities that represent claims on the cash flows generated by the underlying assets. The issuer typically transfers the assets to a special purpose vehicle (SPV), which is a legal entity created solely for the purpose of holding the assets and issuing the securities.

The main benefit of security assets is that they allow the originator to raise funds by selling its assets without giving up control over them. The originator can also reduce its credit risk by transferring some or all of the default risk to the investors who buy the securities. The investors, on the other hand, can diversify their portfolios by accessing different types of assets and cash flows that may not be available otherwise.

The main risk of security assets is that they depend on the performance and quality of the underlying assets. If the borrowers or lessees fail to make their payments, or if the value of the collateral declines, the cash flows to the investors may be reduced or interrupted. The investors may also face legal or operational risks if the issuer or the SPV fails to comply with their obligations or if there are disputes over the ownership or transfer of the assets.

Security assets are subject to various regulations and disclosure requirements by the SEC and other agencies. The SEC requires issuers of security assets to register their offerings with the SEC and provide periodic reports on their financial condition and performance. The SEC also enforces anti-fraud and anti-manipulation rules to prevent misconduct and protect investors.

Security assets are an important and complex part of the securities markets. They offer benefits and risks for both originators and investors, and they require careful analysis and due diligence before investing. By understanding what SEC security assets are, you can make more informed decisions about your financial goals and strategies.

The SEC has jurisdiction over securities and securities transactions, which include stocks, bonds, mutual funds, exchange-traded funds (ETFs), and derivatives. The SEC also has authority over any digital asset that is considered a security under the securities laws.

How does the SEC determine whether a digital asset is a security or not?

The SEC does not have a specific definition of a digital asset or a cryptocurrency. Instead, it applies the same principles and tests that it uses for any other type of asset to determine whether it is a security or not.

The most common test that the SEC uses is called the Howey Test, which comes from a 1946 Supreme Court case involving orange groves. The Howey test states that an asset is a security if it involves:

An investment of money.

In a common enterprise.

With an expectation of profits.

Predominantly from the efforts of others.

The SEC has applied the Howey test to various digital assets and found that some of them are securities, while others are not. For example, the SEC has concluded that Bitcoin and Ether are not securities, because they are decentralized networks that do not rely on the efforts of a third party to generate profits for investors. However, the SEC has also concluded that many initial coin offerings (ICOs) and tokens are securities, because they involve raising money from investors who expect to profit from the development and promotion of a project by a central entity.

If a digital asset is deemed to be a security by the SEC, it means that it is subject to the same rules and regulations as any other security. This has important implications for both investors and issuers of SEC security assets.

For investors, it means that they have certain rights and protections when they buy or sell SEC security assets. For example, they have the right to receive accurate and timely information about the asset, such as its price, performance, risks, fees, and financial statements. They also have the right to sue for fraud or misrepresentation if they are misled or deceived by the issuer or any other party involved in the transaction. Additionally, they have access to various mechanisms for dispute resolution and recovery of funds if they suffer losses due to misconduct or insolvency.

For issuers, it means that they have certain obligations and responsibilities when they offer or sell SEC security assets. For example, they have to register their securities with the SEC or qualify for an exemption from registration. They also have to comply with various disclosure, reporting, auditing, and anti-fraud requirements. They also have to follow certain rules regarding trading, custody, transfer agents, broker-dealers, exchanges, and market makers.

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