Latest news with #OES
Cision Canada
7 days ago
- Business
- Cision Canada
KuCoin Partners with AlloyX to Explore RWA Token Collateral Mechanism Innovation, Enhancing User Asset Security and Liquidity
PROVIDENCIALES, Turks and Caicos Islands, Aug. 12, 2025 /CNW/ -- The globally leading cryptocurrency exchange KuCoin today announced a collaborative exploration with the digital financial infrastructure platform AlloyX to introduce Real-World Asset (RWA) tokens into the exchange's collateral mechanisms. This partnership will pilot the integration of RWA token RYT, issued by a traditional licensed asset management company, into KuCoin's Off-Exchange Settlement (OES) system for credit line management. The mechanisms will be gradually optimized and expanded based on market feedback. This collaboration incorporates tokenized products from the "ChinaAMC USD Digital Money Market Fund," issued by a traditional large-scale asset management institution—China Asset Management (Hong Kong) Limited—into the exchange's credit system. It represents a new attempt to drive ongoing innovation in RWA application scenarios, further penetrating and establishing connections between Web2 and Web3 assets. Crossover Initiative: Tokens Backed by Traditional Fund Assets Enter the Exchange Credit System China Asset Management (Hong Kong) Limited is a wholly-owned subsidiary of China Asset Management Co., Ltd., and is one of the earliest Chinese asset management institutions in Hong Kong to conduct overseas business. It is the issuer of the underlying asset for the RYT token—the "ChinaAMC USD Digital Money Market Fund." This fund is one of Asia's first tokenized USD funds targeted at retail investors, with fund units available for subscription and redemption in token form. Under this partnership mechanism, KuCoin will include RYT in its credit collateral list. Users holding the token can apply for credit lines in their platform accounts to support related trading operations. Backed by secure mechanisms and authentic assets, this innovative attempt provides a new use case for RWA tokens: users can earn underlying yields through holding, allowing investors to configure money market fund tokens as conveniently as other on-chain assets and increase asset allocation diversity, while also activating asset leverage value through collateralization. Notably, the underlying asset structure of RYT has undergone rigorous compliance design, with functions such as fund custodian banking, fund administration, and unit registration handled by Standard Chartered Bank in Hong Kong, offering a trustworthy asset chain under a traditional financial framework. KuCoin CEO BC Wong stated: " KuCoin has always been committed to bridging traditional finance and the crypto world through innovation. This collaboration with AlloyX to explore RWA tokens as collateral mechanisms exemplifies our dedication to providing users with secure and compliant solutions. We emphasize trustworthiness and risk control—this partnership not only elevates the platform's innovation level but also delivers reliable asset appreciation opportunities to global users, helping them manage digital assets more confidently in dynamic markets." AlloyX Co-Founder and CEO Thomas Zhu remarked: " Our focus has always been on how RWA, as an asset form, can deliver more authentic and sustainable economic functions on-chain. This cooperation with KuCoin is a pragmatic attempt centered on 'collateral mechanisms and scenario building,' not only offering users more possibilities for asset utilization but also providing the industry with opportunities for structural validation." Long-Term Significance: Activating Liquidity and Guiding Market Consensus Although RWA is still in its early development stage, its potential in institutional design, risk control, and asset-side construction is increasingly recognized by financial technology institutions. In this collaboration, AlloyX and KuCoin are linking up around RWA collateral mechanisms—not just a product-level integration test but potentially a vanguard for subsequent market standards and practical paths. From an industry perspective, incorporating traditional asset tokens as compliant collateral into mainstream exchange credit systems is expected to enhance the depth of RWA usage and liquidity, while also providing observable models for more asset issuers, platform operators, and regulators. In this context, KuCoin stated that it will continue to deepen exploratory collaborations with various parties to bring more innovative value to global users. About KuCoin Founded in 2017, KuCoin is a leading global cryptocurrency platform serving over 41 million users across 200+ countries and regions. Built on cutting-edge blockchain technology, KuCoin offers access to 1,000+ digital assets and solutions including Web3 wallet, Spot and Futures trading, institutional services, and payments. Recognized by Forbes as one of the "Best Crypto Apps & Exchanges" and a "Top 50 Global Unicorn" by Hurun, KuCoin is ISO 27001:2022 certified and committed to security, compliance, and innovation under the leadership of CEO BC Wong. Learn more: About AlloyX AlloyX Limited is a technology company that specializes in global stablecoin payments and asset tokenization. Committed to integrating traditional banking payment systems with blockchain services, AlloyX provides secure and efficient stablecoin payment services and asset tokenization solutions. The company aims to become Asia's leading stablecoin payments infrastructure and RWA tokenization technology provider. AlloyX offers embedded stablecoin wallet services and integrates various blockchain and payment solutions into its wallet and payment middle platform. The AlloyX platform also provides comprehensive solutions for stablecoin storage, payments, settlement, investment, foreign exchange, and asset tokenization, promoting the global adoption and application of stablecoin payments and tokenization technologies.
Mint
26-07-2025
- Politics
- Mint
Donald Trump govt mulls changes to US citizenship test, H-1B visa program: What it means?
Director of US Citizenship and Immigration Services Joseph Edlow said this week that President Donald Trump's administration is considering changes to the test to become a US citizen. Earlier, it was reported that the administration was planning to change the visa system for skilled foreign workers by doing away with the H1-B visa lottery system. Joseph Edlow, the director of USCIS, told the New York Times on Thursday that the administration wanted to change the naturalisation test required by prospective US citizens. As of now, immigrants study 100 civics questions and then must respond correctly to six out of 10 questions to pass that portion of the test. During the first Trump administration, the agency increased the number of questions and required applicants to respond correctly to 12 out of 20 questions. Edlow said the agency plans to return to a version of that test soon, the NYT reported. In an interview with The New York Times, Joseph Edlow said the test to become a US citizen was too easy and should change. 'The test as it's laid out right now, it's not very difficult,' Edlow said on Thursday, adding. 'It's very easy to kind of memorise the answers. I don't think we're really comporting with the spirit of the law.' Edlow's proposed changes would have to be approved through the federal government's rule-making process. The Donald Trump administration is reportedly planning to revamp the H1-B visa lottery system, aiming to replace it with a more weighted and wage-linked selection process. The proposed changes aim to give preference to certain applicants based on additional criteria—potentially including wages—thereby benefiting highly-skilled and higher-paid professionals. Currently, the system is quite simple. Applicants who are eligible for H1-B visa submit their applications, and a computer-run lottery randomly selects the recipients. Each year, about 85,000 H-1B visas are issued, including 20,000 reserved for individuals holding a Master's degree or higher from a US university. On January 8, 2021, the Department of Homeland Security published a final rule to modify its process for selecting H-1B petitions when registrations surpass the annual limit of 85,000. So, what changes does the administration propose? As per Forbes, in the final rule in 2021, DHS described the new selection process as: 'The USCIS will rank and select the petitions received on the basis of the highest Occupational Employment Statistics wage level that the proffered wage equals or exceeds for the relevant Standard Occupational Classification code in the area of intended employment, beginning with OES wage level IV and proceeding in descending order with OES wage levels III, II, and I.' A study by the Institute for Progress earlier this year found, as reported by the Hindustan Times, that if higher salaries were given priority instead of using a random lottery, the average salary of an H-1B visa holder could rise from around $106,000 to $172,000. That would likely make things much harder for outsourcing firms who rely on hiring large numbers of lower-wage workers, but could be a big plus for researchers, PhD holders, and senior-level tech professionals, the report added. Doug Rand, a former Biden administration official, said changing the H1-B process to favour higher-wage earners was misguided. 'Like it or not, the H-1B program is the main way that US companies can hire the best and brightest international graduates of US universities, and Congress never allowed DHS to put its thumb on the scale based on salary,' he said. Regarding the plan to change the H-1B visa program for foreign workers, it has been the subject of debate within the Republican Party. Edlow said it should favour companies that plan to pay foreign workers higher wages. the proposed changes to the system could alleviate criticism from those in the right wing of the Republican Party who say the program attracts workers willing to accept lower salaries than American workers. This week, US Vice President JD Vance had criticised companies that lay off their own employees and then hire foreign workers. But some of Trump's most prominent backers in the tech industry said they rely on the H-1B visa program because they can't find enough qualified American workers. Edlow was quoted by NYT as saying, 'I really do think that the way H-1B needs to be used, and this is one of my favorite phrases, is to, along with a lot of other parts of immigration, supplement, not supplant, US economy and US businesses and US workers."
Time of India
24-07-2025
- Business
- Time of India
What are new weightage level rules of US H-1B visa? Important things students must know
In a country where a six-figure job offer once meant a golden ticket to an H-1B visa, change is in the air, this time in the form of a more calculated, wage-driven selection process. The United States is poised to move away from its long-standing random H-1B lottery system and toward a wage-level-based selection model, reshaping the future of work for thousands of aspiring immigrants and international students. While the new system won't affect the 2026 H-1B quota, already maxed out, it signals a bold philosophical shift in how the US will define merit, skill, and value in its immigration framework. What is changing? Under the current system, H-1B petitions are selected by lottery when applications exceed the statutory cap of 65,000 general slots and 20,000 additional slots for individuals with advanced degrees from US universities. This approach, though administratively neutral, has long been criticised for failing to prioritise skill, experience, or even sectoral needs. Now, the Department of Homeland Security (DHS) proposes a wage-based ranking mechanism. Echoing a shelved rule from the Trump administration, the new plan will prioritize visa allocations according to Occupational Employment Statistics (OES) wage levels, starting from Level IV (highest salaries) and moving down through Levels III, II, and finally I (entry-level). This fundamentally changes the game. The wage-level breakdown: Level I (Entry-Level): ~$83,000 Level II (Qualified): ~$108,000 Level III (Experienced): ~$127,000 Level IV (Fully Competent): ~$151,000 These tiers are defined by the Department of Labor's Standard Occupational Classification (SOC) codes and are tied to job responsibilities and market rates in specific geographic regions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Up to 70% off | Shop Sale Libas Undo Who gains and who loses? American tech professionals, especially those at senior and mid-level positions, have welcomed the change. For years, critics argued that the lottery system allowed companies, particularly outsourcing firms, to fill junior positions with lower-paid foreign talent, undercutting domestic wages. With wage-based prioritization, the hope is to restore integrity to the system and ensure that only highly skilled, well-compensated foreign workers are considered. On the other side of the spectrum, international graduates fresh out of US universities will find the road far more difficult. Entry-level H-1B sponsorships are likely to decline sharply, as employers face lower odds of success when offering Level I wages. Startups and smaller companies, too, may struggle to compete with tech giants able to pay top-tier salaries and secure visas more reliably. Moreover, this could create unintended friction at the top: mid-level H-1B talent with higher salaries could end up competing with seasoned American professionals for leadership-track roles—raising questions about displacement at the upper echelons of the workforce. A shift in immigration philosophy This is not just a procedural tweak. It represents a seismic reorientation of how the US views merit-based immigration. No longer will chance determine access to one of the world's most coveted work visas. Instead, the market, expressed through wage offers, will drive selection. But that also means the H-1B becomes less a pathway for potential and more a reward for economic leverage. Not without controversy Critics argue that wages do not always equate to skill, especially across industries, locations, or roles. For instance, an AI researcher at a university might earn less than a mid-level engineer in a corporate tech firm. Should the system automatically favour the latter? And what about public service sectors, research institutions, and emerging startups that drive innovation but operate with tighter budgets? The proposal is currently under White House review and will go through a period of public comment. But the message is clear: the United States is tightening the screws on how it selects high-skilled foreign workers, and money now talks louder than ever. What students must know Entry-level H-1B chances will sharply decline Only higher-paying offers will stand a chance under the new rule F-1 to H-1B transitions could become far more difficult STEM graduates should explore employer pathways offering Level II+ wages Startups may no longer be the most visa-friendly options Consider long-term planning for green cards earlier Stay updated on White House reviews and DHS rule finalization timelines In this evolving landscape, international students and skilled workers must recalibrate expectations. The age of H-1B as a gateway to opportunity may not be over, but it is undoubtedly being remapped, with salary slips now replacing luck as the ultimate key to the American dream. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Time of India
23-07-2025
- Business
- Time of India
H-1B wage levels: What will change in the new US immigration rules that will end visa lottery?
The proposed H-1B rule will be bad news for international graduates and senior American employees. The US administration is planning to bring in a new H-1B rule which will give weightage to wage level instead of the random lottery that takes place now when H-1B registration exceed the annual limit of 65,000 plus the additional 20,000 for individuals with an advanced degree from a US university. The new rule will not be applicable this year as 2026's registration quota has already been reached. US tech workers have welcomed the proposed changes as they think the changes will eliminate the possibility of U companies hiring foreign workers for posts that don't need high skills, as H-1B should be -- but they hire only to save money as they will have to pay less wage to a foreigner than a US citizen. Understanding weightage-based selection This is the same rule that the Trump administration wanted to bring in during the last term. 'USCIS will rank and select the petitions received on the basis of the highest Occupational Employment Statistics wage level that the proffered wage equals or exceeds for the relevant Standard Occupational Classification code in the area of intended employment, beginning with OES wage level IV and proceeding in descending order with OES wage levels III, II, and I. ' (The Occupational Employment and Wage Statistics program is within the Department of Labor.)" by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gentle Japanese hair growth method for men and women's scalp Hair's Rich Learn More Undo the 2021 DHS rule said. What does this mean? This means there will be no H-1B hiring at the entry level. Entry-level jobs will be protected for Americans. Based on the wages and expertise needed for a job, there are four levels: Entry, qualified, experienced and fully competent. The national average of entry-level salary is $83K, level 2 is $108K, level 3 is $127K and level 4 is $151K. International grads will suffer, senior American employees will face competition International graduates looking for entry-level jobs in America will suffer as they will not get a chance in the proposed system. While this is good news for American graduates, the new rule has bad news for senior American leadership as the new system will bring in more high-paid mid-level H-1Bs. Startups will also suffer as they won't be able to hire cheap labor from H-1Bs.
GMA Network
22-07-2025
- Climate
- GMA Network
Marcos orders suspension of all SONA preps
President Ferdinand ''Bongbong'' Marcos Jr. is "dismayed" over reports that government personnel are putting up materials for the upcoming State of the Nation Address (SONA) in public areas despite communities battling the onslaught of the Southwest Monsoon or Habagat. In a statement issued Tuesday, the Office of the Executive Secretary announced that all SONA-related preparations are immediately suspended. Marcos is set to have his fourth SONA next week, July 28. The Department of Public Works and Highways, together with other concerned agencies, must instead focus on flood response and relief operations, according to the OES. The OES said Marcos has directed that all efforts should be focused on ensuring the safety and welfare of the public, adding that all government agencies must act accordingly. The Southwest Monsoon or Habagat continues to bring cloudy skies and torrential rains over most parts of the country, particularly in Luzon area. PAGASA had said Metro Manila, CALABARZON, Zambales, Bataan, Pampanga, Bulacan, and Occidental Mindoro will have monsoon rains with the possibility that floods or landslides will occur due to moderate to heavy with at times intense rains. The President had instructed concerned government agencies to ensure the safety of the people amid the floods in Metro Manila and several other provinces and to deliver assistance to flood victims quickly. —VAL, GMA Integrated News
