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Time of India
14-05-2025
- Business
- Time of India
Crypto platform FalconX partners with Standard Chartered
Crypto prime broker FalconX and global bank Standard Chartered said on Wednesday they had formed a strategic partnership to serve institutional crypto investors. The partnership marks FalconX's first collaboration with a global traditional bank and suggests growing institutional demand for digital assets through traditional finance channels. FalconX will leverage Standard Chartered's banking and foreign exchange services - including its access to a wide range of currencies - to support its institutional clients, said Matt Long, FalconX's general manager of APAC & Middle East. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Überraschender Trick gegen geschwollene Knöchel entdeckt Venen Kompass Weiterlesen Undo "Our clients will be able to engage more efficiently in fiat currencies settlements, which means a lot faster settlement, better capital efficiency and overall reduced operational risk," he told Reuters. The California-based crypto-focused prime-brokerage services firm said its clients include some of the world's largest asset managers, sovereign wealth funds, hedge funds and family offices. Live Events Standard Chartered pointed to greater digital asset adoption by institutional clients as the driver for the partnership. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Luke Boland, Asia head of fintech at Standard Chartered, said the bank's collaboration with FalconX would begin in Singapore and later expand to other countries in Asia, the Middle East and the United States. The Hong Kong-headquartered multinational bank has been expanding its digital asset business. Last year, the bank started a digital asset custody service in the United Arab Emirates. In April, it partnered with digital exchange OKX to enable institutional clients to use cryptocurrencies as collateral. The global cryptocurrency market surpassed $3 trillion in market value in November following the election of crypto-friendly Donald Trump as U.S. president, fuelling expectations of a golden era for digital assets. Standard Chartered expects the overall value of digital assets to reach $10 trillion by 2026. Founded in 2018, FalconX was last valued at $8 billion following a $150 million funding round in 2022. It is backed by investors including Wellington Management, Singapore sovereign wealth fund GIC and Tiger Global Management.
Yahoo
14-05-2025
- Business
- Yahoo
Crypto platform FalconX partners with Standard Chartered
By Summer Zhen HONG KONG (Reuters) -Crypto prime broker FalconX and global bank Standard Chartered said on Wednesday they had formed a strategic partnership to serve institutional crypto investors. The partnership marks FalconX's first collaboration with a global traditional bank and suggests growing institutional demand for digital assets through traditional finance channels. FalconX will leverage Standard Chartered's banking and foreign exchange services - including its access to a wide range of currencies - to support its institutional clients, said Matt Long, FalconX's general manager of APAC & Middle East. "Our clients will be able to engage more efficiently in fiat currencies settlements, which means a lot faster settlement, better capital efficiency and overall reduced operational risk," he told Reuters. The California-based crypto-focused prime-brokerage services firm said its clients include some of the world's largest asset managers, sovereign wealth funds, hedge funds and family offices. Standard Chartered pointed to greater digital asset adoption by institutional clients as the driver for the partnership. Luke Boland, Asia head of fintech at Standard Chartered, said the bank's collaboration with FalconX would begin in Singapore and later expand to other countries in Asia, the Middle East and the United States. The Hong Kong-headquartered multinational bank has been expanding its digital asset business. Last year, the bank started a digital asset custody service in the United Arab Emirates. In April, it partnered with digital exchange OKX to enable institutional clients to use cryptocurrencies as collateral. The global cryptocurrency market surpassed $3 trillion in market value in November following the election of crypto-friendly Donald Trump as U.S. president, fuelling expectations of a golden era for digital assets. Standard Chartered expects the overall value of digital assets to reach $10 trillion by 2026. Founded in 2018, FalconX was last valued at $8 billion following a $150 million funding round in 2022. It is backed by investors including Wellington Management, Singapore sovereign wealth fund GIC and Tiger Global Management. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
12-05-2025
- Business
- Mint
China Tariff Relief Spurs Shipping Rush, U-Turn on Price Hikes
It may only be a 90-day reprieve from the steepest of Trump's China tariffs, but it's enough time to entice companies to restart factory operations and start shipping. Therabody, a Los Angeles-based maker of wellness products such as Theragun massagers, restarted manufacturing and is ramping up production again in China, Chief Executive Officer Monty Sharma said. He added that 'in my 40 years of work,' he's never been happier 'about a 30% increase in our costs.' Getting up and running again won't be straightforward. Sellers of imports from China are facing risks such as a sudden surge of shipping demand that's expected to raise costs and create delays. On top of this, the relatively short 90-day window in which tariffs are being lowered doesn't give companies a lot of wiggle room when it comes to trans-oceanic supply chains. Bogg Bag, a company known for its perforated tote bags, has reversed an earlier decision to raise prices and will instead keep them the same — at least for now. The company has also resumed production that was halted earlier this year. However, Bogg is planning to cut its fall and holiday product lineup by 45 items — or almost half of its collection — so that it doesn't have to rush production to make up for lost time. Additionally, Bogg wants to move quickly to get products out. 'Let's get them finished, let's get them loaded and on the water,' said Bogg's CEO and founder Kim Vaccarella, because ports will begin to get crowded. The temporary tariff relief means that US companies will try to quickly ship out products that were being held in factory warehouses in China, according to David Chitayat, CEO of Genimex, which does contract manufacturing for global brands. Many businesses will probably try to stock up on their products in the US to have a cushion of inventory in case trade talks break down or levies spike back up after the 90-day period. Some of those goods will still need to be produced, since some manufacturing was paused during the surge in tariffs. Chitayat predicted companies will be able to absorb the tariffs at their current level — but consumers will still face higher prices. 'The tariffs are still meaningful, but should be manageable for most brands,' he said, assuming companies hike prices. A 30% increase in manufacturing costs translates to roughly a 5% to 10% increase in the price consumers pay for the product, he added. Companies still face hurdles to quickly ship their products to the US during the 90-day window. In the short term, shipping is 'going to be a mess with everyone scrambling to get space,' Chitayat said. He expects container prices to go up but notes they are starting from a low point. Tarptent, a California-based seller of outdoor gear, which had previously asked its Hong Kong-headquartered supplier to pause purchase orders from its factory in China, is now exploring whether its orders can be resumed. The company is also gauging whether there's enough time to order and ship the US-made fabric it uses for its tents to the manufacturer in time for a production run to happen within the 90-day reprieve window in which the countries are engaged in talks. 'My guess is that it is pretty unlikely,' Henry Shires, Tarptent's president, said Monday in an email. 'At this point I would say that the 90-day widow is very narrow — and the window givers are too unreliable — to risk a big investment' in fabric, he said. Shires said he was waiting for the sun to rise in Hong Kong to see if the manufacturer could use fabric that's already on-site at the factory. The lower-tariff window will help Net Health Shops LLC in the short term, CEO Chuck Gregorich said. The home-goods company is looking into shipping dozens of containers from China that it paused in March. Gregorich expects this to boost its overall inventory and alleviate supply shortages. Whether he decides to ship those containers will also depend on ocean freight rates, he added. He anticipates that rates could rise due to pent-up demand as other businesses look to get more items delivered in the coming weeks and months. Longer term, Gregorich expects items from China to remain more expensive, so he's prioritizing sourcing products from other countries like Vietnam and India. 'My mind is already in those other countries,' he said. With assistance from Jaewon Kang. This article was generated from an automated news agency feed without modifications to text.
Fibre2Fashion
09-05-2025
- Business
- Fibre2Fashion
India-Pakistan crisis disrupts sea freight traffic in S Asia: IFB
Due to the India-Pakistan crisis, MSC is using Colombo as a new transhipment centre, CMA CGM is sending some ships back to Pakistan, while Maersk is actively reviewing its routes to ensure all regulations are adhered to, with possible consequences being diversions or schedule changes, according to transport and logistics company IFB. While several ships are currently waiting outside harbours with cargo for both India and Pakistan, shipping companies have requested authorities to provide quick information. Due to the India-Pakistan crisis, MSC is using Colombo as a transhipment centre, CMA CGM is sending some ships back to Pakistan, while Maersk is reviewing its routes to ensure all regulations are adhered to, with possible consequences being diversions or schedule changes, IFB said. Shipping firms have requested authorities to provide quick information. Many ships are waiting outside harbours. All MSC cargo is being rerouted to Colombo and it has received official clearance from India. Stranded cargo from Pakistan may be picked up in Mundra and Nhava Sheva. However, new cargo from Pakistan will no longer be accepted in Indian ports, Hong Kong-headquartered IFB said. CMA CGM's cargo will be unloaded in Pakistan and shipped again later, but the shipping company said a feeder service to a nearby transhipment centre is possible. If the restrictions last longer, Maersk may make structural changes to its maritime network. This could mean adjusting routes, hubs or even the entire East-West network. Maersk and Hapag-Lloyd continue to accept bookings via Salalah with no disruptions or changes. The situation intensified due to an earlier strike in Pakistan. It was triggered by government plans to build new canals along the Indus River. This blocked important transport routes between the north and south of the country. Various shipments arrived late at the port of Karachi and were not loaded onto the booked ships. Instead, they were rebooked onto other ships. As these ships have not called at the port of Karachi since the trade restrictions were imposed, many containers are still in the harbour. The current lack of ship capacity is leading to rebookings, delays and rollovers, IFB added. Fibre2Fashion News Desk (DS)
Bloomberg
25-04-2025
- Business
- Bloomberg
Gaw Capital Targets $2 Billion for New Real Estate Fund
Hong Kong-headquartered real estate investment firm Gaw Capital Partners is targeting $2 billion in commitments from investors for its new Gateway Real Estate Fund VIII, according to people familiar with the matter. Gaw Capital's latest fund aims to invest in both private credit and private equity deals in Asia Pacific, said the people, who asked not to be identified as the matter is private. Gaw has raised seven Gateway funds with combined equity commitments of more than $13.6 billion in more than 92 investments, according to its website.
