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Puerto Rico Tax Credit Exchange Announces Addition of Uncommon Businesses as a Member of PRTX Community LLC

SAN JUAN, PUERTO RICO, United States, August 20, 2021 /EINPresswire.com/ – The Puerto Rico Tax Credit Exchange (“PRTX”) is pleased to announce the addition of Uncommon Ventures (“UV”) as as a member of PRTX Community LLC on the peer-to-peer tax credit trading platform PRTX. As a peer, UV can now draw on the resources of the PRTX community to prepare requests for tax decrees, issue debt securities to monetize tax decrees and participate in secondary market transactions of these instruments with d ‘other peers and accredited investors in the PRTX market. In addition, UV is authorized to buy and sell tax credits on the exchange of tax credits for delivery to Puerto Rico’s Treasury Department, the Hacienda.

Drew Cutkomp, Co-Founder of Uncommon Ventures, commented: “At UV, we are delighted with the opportunity as members of the PRTX community to provide our clients with access to tax credit trading, which makes integral part of our clients’ strategy to maximize investments on the island and thus have a positive impact on the local economy.

Puerto Rico has a long history of encouraging investment by off-island investors by offering generous tax incentives, including tax credits, which in most cases are transferable and can be used to directly offset taxes owed by taxpayers from Porto Rico. In 2019, the numerous laws and statutes were consolidated under Law 60 administered by the Secretary of the Department of Economic Development and Trade (“DEDC”). PRTX will transact in the instruments of tax decrees covered by Law 60 for: section 3010.01 Tax credit for eligible tourism investment, section 3030.01 Tax credit for science and technology and section 3050.01 . Tax credit for creative industries, each having specific application and issuance criteria for tax credit.

Uncommon Ventures follows its entrepreneur clients every step of the way. Now, with membership in the PRTX community, UV clients can take advantage of the capabilities and expert resources of Puerto Rico’s top tax firms.
PRTX is currently in pre-launch beta mode with an operational marketplace and now accepts sales tax credits and issues debt instruments by tax decree providing taxpayers with an interest-bearing asset with a delivery of credits from tax at maturity.

About PRTX
The Puerto Rico Tax Credit Exchange was founded by Inportal Kanga Nexus LLC, a Puerto Rican limited liability company to encourage investment in Puerto Rico. Using a peer-to-peer private market format, PRTX enables investors in Puerto Rico to monetize their tax decrees and provides liquidity through a secondary trading market in issued tax decree instruments. Tax Credit Redemption is a place for buyers and sellers of tax credits to seamlessly process and settle through a third-party ACH payment provider.

About Uncommon Businesses
With Uncommon EntrePReneurs as an open arm to the public, UV’s mission is to create unique links and advise within a growing network of entrepreneurs, investors and innovative thinkers. Forming an ecosystem UVs promote community, prosperity and education. UV achieves these goals by hosting vibrant networking events across Puerto Rico, with over 2000 unique people physically participating and with many other interactions online.

Stephen inglis
PRTX
+1 914-548-2634
write us here


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Credit exchange

Plastic Credit Exchange revamps the system and uses blockchain technology

Plastic Credit Exchange (PCX), a Filipino nonprofit plastic clearing program, has partnered with Microsoft to develop a blockchain-protected public credit ledger.

“It is important that the credit registry is trustworthy and publicly accessible,” PCX Founder and President Nanette Medved-Po said in a statement. “By using blockchain technology not only to protect the ledger, but also to provide transparency around additionality and protect against double counting, stakeholders will know where and how they are positively impacting the environment. “

Similar to carbon markets that use carbon credits to limit the production of greenhouse gases by companies, PCX uses plastic credits to limit the number of plastics that companies produce.

The Philippine companies that have purchased plastic offsets are Nestlé Philippines and Unilever Philippines. Meanwhile, companies like PepsiCo Snacks, Wyeth Nutrition, Century Pacific Food, Colgate-Palmolive, and NutriAsia have sued plastic neutrality in the country.

According to PCX, these partnerships have diverted more than 18 million kilograms of plastic waste from the ocean.

“Sustainability and humanity’s response to this problem is one of the greatest challenges of our lives – a planet-sized challenge that requires a planet-sized response,” said Andres Ortola, country manager for Microsoft Philippines, in a statement. “Technology can – and should – accelerate this response. “

Microsoft provided an Azure-based blockchain solution to strengthen the security of the credit ledger, using a web application to integrate the blockchain into PCX’s current operations.

PCX’s blockchain-protected credit ledger can be found plasticcreditexchange.com, where it shows how much plastic credit each company has purchased. BH Lacsamana


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Credit exchange

Envestnet Credit Exchange offers secured and unsecured loan options

Envestnet Credit Exchange recently launched access to a wide range of real estate and unsecured loan products from a growing list of lending partners who have been selected for their wide range of products and services. The Investnet Credit Exchange product suite now extends beyond secured loans with Upgrade and Lightstream to unsecured loans. Ally Home, Better, and Guaranteed Rate will now help wealth managers meet the real estate financing needs of their clients.

Powered by Advisor Credit Exchange (ACx), the Investnet Credit Exchange will provide financial advisors with access to secured and unsecured lending options through the Envestnet ecosystem. These loans are in a wide range, from $ 10,000 to $ 25 million and more.

Customers are analyzed for their financial data and matched with the right loan opportunities. The options are gathered from a list of lending partners, prioritized according to their product offerings, quality of service and funding experience.

“To be competitive and successful in the wealth management business, advisors need to consider both sides of their clients’ balance sheets,” said Andrew Stavaridis, Group Solutions Delivery Manager at Envestnet. “Helping clients build equity means managing credit as strategically as investing. This product extension provides advisors with solutions to their clients’ financing needs.

Advisors can help clients obtain residential real estate loans for purchase or refinance. The Federal Reserve Board of New York reports that mortgages account for 70% of consumers’ credit balances. Ally Home, Better and Guaranteed Rate were the first residential mortgage lenders to join the exchange.

Envestnet has also partnered with Access Financing, the Sweetpay brand, to provide unsecured loans and expand consumer options. Unsecured loan partners on the Credit Exchange include Upgrade and Lightstream.

Peter Stanton, CEO of Advisor Credit Exchange, said: “Envestnet Credit Exchange is now positioned to enable advisors to serve the three main personal lending services: asset backed, unsecured and real estate. The relationships we foster can provide advisors with the power and confidence to advise their clients on all aspects of credit and help them access the ideal credit solutions to meet their needs. “

For more information on Envestnet, please visit www.envestnet.com.


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Credit exchange

Velo Protocol powering the world’s first federated credit exchange network

Imagine a network where partners – from traditional finance, CeFi and DeFi sectors – are all created equal. This network has no central nodes and all data is sent from node to node via the shortest and most efficient route available. In this network, all participants agree on a set of fundamental ideas – be it policies, algorithms, a hierarchy of governance or otherwise – for the benefit of the network as a whole. Beyond these fundamental concepts, network participants retain their autonomy.

This is the vision that Velo Labs pursues with its Federated Credit Exchange network. This network, powered by the Velo protocol, allows network participants to freely issue digital credits indexed to any stable currency by staking VELO tokens. Network participants can then use these digital credits in their day-to-day business operations.

To participate in the Velo Labs federated credit trading network, there are several conditions that all network participants must comply with. These include:

  • VELO tokens serve as a universal network guarantee;
  • VELO token transactions are confirmed using a federated Byzantine agreement – the Stellar Consensus Protocol;
  • The main function of the network is based on the Velo protocol.

Behaviors outside these stipulations are left to the network participants.

The Velo protocol

The Velo protocol is a financial protocol that issues digital credits attached to any fiat currency. It ensures that these digital credits are always properly secured to maintain a 1: 1 digital credit to fiat value ratio. The Velo protocol has two main components. A digital credit issuance mechanism and a digital reserve system.

The digital credit issuance mechanism is the part of the Velo protocol that issues digital credits pegged to any fiat currency. The digital reserve system automatically rebalances these collateral pools to maintain a 1: 1 value ratio between digital credits and their associated fiat currency. In other words, as the price of guaranteed tokens increases in the open market, the digital reserve system automatically removes said tokens from individual collateral pools and adds them to the system reserve pool. Likewise, when the price of guaranteed tokens drops in the open market, said tokens will automatically be removed from the reserve pool of the system and added to each individual guarantee pool.

Issuing digital credits and balancing collateral pools in this way requires full Turing smart contracts, which the Stellar network does not support. As VELO is based on Stellar, a bit of cross-chain magic is needed. Enter the Hermes Warp protocol.

The Hermes Warp protocol

The Hermes Warp Protocol is an inter-chain protocol that links Stellar and other chains such as Evrynet.

When smart contract functions are required, the relevant Stellar-based tokens are locked into a multi-signature custodian address and the Evrynet-based tokens – corresponding to each individual Stellar-based token – are released. When a network participant needs to convert their digital credits back to Stellar-based tokens, the Evrynet-based tokens are withdrawn from circulation. The original Stellar-based tokens are then unlocked from their custody accounts. On a related note, Velo Labs recently announced a partnership with Matrixport Cactus to provide cutting edge childcare services.

The Hermes Warp protocol also allows converting Ethereum based tokens to and from Evrynet and Stellar based tokens. This paves the way for all Ethereum-based projects to connect to the Velo Labs federated credit trading network.

Velo Labs Federated Credit Exchange Network

Supported by the Stellar network and the CP Group – one of the largest conglomerates in the world – Velo Labs currently serves business partners in South East Asia. By connecting the legacy financial sectors, CeFi and DeFi, Velo Labs’ federated credit trading network positions Velo Labs as one of the few blockchain projects with a clear path to mass adoption.

Learn more about Vélo.

© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.


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Nexus to Launch tokenized Puerto Rican Tax Credit Exchange “PRTX” Through Strategic Collaboration with DANKO Holdings

Puerto Rico Tax Credit Exchange

SAN JUAN, PUERTO RICO, September 30, 2020 /EINPresswire.com/ – Nexus Decentralized Capital Markets is pleased to announce a financial and strategic partnership with DANKO Holdings LLC to launch the Puerto Rico Tax Credit Exchange “PRTX”, a The private peer market on the Nexus platform will be launched on nexusmarkets.io by mid-November.
Once activated, PRTX will provide a venue to assess and process tax credits on an “as issued” basis and provide efficiency and transparency as a clearinghouse for investors and taxpayers, with all transactions recorded. on a blockchain ledger.
Stephen Inglis, CEO of Nexus, commented, “We expect the creation of the Tax Credit Exchange will play an important role in the relocation process to help businesses move their operations to Puerto Rico, navigate and monetize them. generous tax incentives. Puerto Rico’s Law 60 tax credit program covers all aspects of investing, including pharmaceutical manufacturing, alternative energy, hotels, construction, film financing, and R&D. PRTX will build a community with law and accounting firms, as well as companies bringing investments to the island. ”
David Kovner, partner of DANKO and new CFO of Nexus, said: “We recognize that the creation of PRTX on Nexus will bring profound benefits to Puerto Rico’s economy and that peer-to-peer tokenization technology can then be applied as a wider application for investments in alternative assets ”
Daniel York, Managing Partner of DANKO added, “The PRTX product represents DANKO’s inaugural investment in Puerto Rico as our pipeline of exciting projects and new partners on the island grows.
About NEXUS
Inportal Kanga Nexus LLC, headquartered in Old San Juan, has offices in New York and Gdansk, Poland. It was formed by a merger of AI Capital LLC, aka Inportal, www.inportalusa.com, providing compliance, agreement creation and INPR token issuance protocol capabilities, with Adwell Media Inc., owner from Kanga Exchange, https: // kanga. exchange, an active cryptocurrency exchange with trading algorithms and distributed ledger capabilities. Nexus is unique in that transactions are carried out on a peer-to-peer, investor-to-issuer basis.
About DANKO Holdings, LLC
DANKO Holdings, LLC is a boutique investment, management and origination company with offices in New York City, as well as Ocala and Palm Beach, Florida. Holdings are primarily focused on breakthrough technologies and products sourced from an exclusive network of relationships and industry experts. They currently have stakes in agriculture, healthcare, advanced coatings, green energy, blockchain, and consumer goods. They provide early support for people, ideas and technology that can have a significant impact globally on pressing environmental, health and social challenges. They believe in bringing profit and goal closer together for the mutual benefit of all stakeholders.

Daniel York
Danko Holdings LLC
write us here
+1 561-818-4206
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Credit exchange

Bancorp Bank Joins Envestnet Credit Exchange, Providing Access to Automated Securities-Backed Loan Issuance

CHICAGO, 25 Aug 2020 / PRNewswire / – Envestnet, Inc. (NYSE: ENV) announces that The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), has joined the list of lenders on the Investnet Credit Exchange, providing financial advisers with transparent access to lines of credit backed by securities.

“We continue to add selected and highly qualified lenders to Envestnet Credit Exchange to enrich the suite of credit solutions that allow advisors to help clients manage both sides of the balance sheet,” said Jean Yackel, head of strategic initiatives at Envestnet. “Bancorp’s asset-backed lending product gives advisors and their clients broader options to make financial well-being a reality for more clients.”

Registered Investment Advisers (RIAs) and businesses have access to The Bancorp’s equity-backed lending product through Envestnet Credit Exchange, including pre-qualified lending opportunities to present to their clients. Bancorp simplifies and then speeds up loan approval thanks to its Talea platform, which automates the approval process, streamlines application documents and saves time on approval and funding. For more information, visit https://www.thebancorp.com/Talea.

“Talea enables the speed and simplicity of lending for our Asset Backed Line of Credit (SBLOC) product, giving advisors and businesses the confidence to share trusted client relationships with The Bancorp. “, said Jean Leto, Executive Vice President and Head of Institutional Banking Services at The Bancorp. “We are delighted to be working with Envestnet and Envestnet Credit Exchange to bring the benefits of Talea to more advisors and investors across the country.”

The Investnet Credit Exchange, powered by the Advisor Credit Exchange (ACx) and launched last year, is available through the sponsor and advisor portals of the Envestnet platform. The Credit Exchange generates a data-based selection of prequalified loan opportunities for clients, along with full price and term details for each potential loan.

The Investnet Advisor Summit On-Demand (https://www.envestnet.com/advisorsummit) features video content demonstrating and discussing in more detail the Envestnet Credit Exchange.

“Advisors can confidently communicate with clients on relevant loan opportunities and demonstrate greater value to clients, when leveraging actionable insights from the Envestnet credit exchange,” said Pierre Stanton, CEO of Advisor Credit Exchange. “Expanding our line of respected lenders enables advisors to help manage credit for clients as part of a unified advisory offering, while mitigating risk and increasing transparency.”

About Investnet

Envestnet, Inc. (NYSE: ENV) is transforming the way financial and wellness advice is delivered. Our mission is to empower financial advisers and service providers with innovative technologies, solutions and information to make financial wellness a reality for all. More than 103,000 advisors in more than 4,900 companies, including 16 of the 20 largest American banks, 46 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs and hundreds of FinTech companies, leverage the Envestnet platform to develop their business and customer relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog and follow us on Twitter (@ENVintel) and LinkedIn.

Envestnet, Inc. has a financial interest and serves on the board of directors in Advisor Credit Exchange (“ACE”). ACE provides access to lending solutions for advisors and their clients through the Envestnet platform through EAM’s subsidiary, Envestnet Financial Technologies.

This press release should not be construed as a recommendation or endorsement of any particular product, service or company. No loan decisions are made by Envestnet and all loan financing and administration is carried out by separate, unaffiliated financial institutions.

About Advisor Credit Exchange, LLC

The Advisor Credit Exchange (ACx) is a technology-enabled network that brings together lenders and wealth managers, enabling investment firms and advisors to deliver financing solutions to build their clients’ net worth and achieve their financial goals. By integrating liability management with asset management and protection solutions, ACx has created new opportunities for advisors to help clients achieve financial well-being.

For more information on Advisor Credit Exchange, please visit www.advisorcreditexchange.com.

About Bancorp

The Bancorp, Inc. (NASDAQ: TBBK) is dedicated to serving the unique needs of non-bank financial services companies, ranging from entrepreneurial start-ups to Fortune 500. The company’s subsidiary, The Bancorp Bank (FDIC member, Equal Housing Lender), has been repeatedly recognized in the payments industry as the leading prepaid card issuer (US), a leading sponsor bank and a major initiator of ACH. Specialized lending accolades include SBA National Preferred Lender, one of the leading providers of asset-backed lines of credit and one of the few bank-owned commercial vehicle leasing groups in the country. For more information, please visit www.thebancorp.com.

Media relations

Dana taormina
JConnelly for Envestnet
973.850.7305
[email protected]

Rachel weiss, vice-president responsible for communications
La Bancorp, Inc.
302.385.5410
[email protected]

Investor Relations

Andrés Viroslav, director of investor relations
La Bancorp, Inc.
215.861.7990
[email protected]

SOURCE Envestnet, Inc.

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http://www.envestnet.com



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Credit exchange

Envestnet Credit Exchange Adds TD Bank; LightStream, a division of SunTrust; At national scale ; and First Citizens Bank

CHICAGO, Jan.6, 2020 / PRNewswire / – Envestnet today announced that it will provide financial advisors with access to a selection of lenders on its recently launched Envestnet Credit Exchange platform. Together, TD Bank; LightStream, a division of SunTrust; Nationwide (in partnership with Supernova Lending, LLC); and First Citizens Bank will offer advisors on the Envestnet platform a wide range of loans with secured and unsecured financing options, valued at $ 10,000 To $ 25 million or more. Each lender was selected on the basis of its product offering, quality of service and financing expertise.

“We are proud to present financing solutions from a respected group of lenders through Investnet Credit Exchange,” said Bill crager, Interim CEO of Investnet. “We believe that advisors who offer unified advice, a component of which includes credit management, can help their clients achieve financial well-being. We are committed to offering more choice to the companies we work with, as well as their advisors.

The Investnet Credit Exchange, powered by Advisor Credit Exchange (ACE), will be available through sponsor and advisor portals on the Envestnet platform, and actively support loan referrals and consulting firm integration. Additional lenders and wider market expansion are planned for 2020.

“The unique and enduring value of Credit Exchange lies in the fact that we offer multiple lending solutions integrated into the wealth management process on the Envestnet platform, organized with lending partners who offer choice and transparency to the advisor” , said Jean Yackel, head of strategic initiatives at Envestnet. “The breakthrough of Credit Exchange provides data-driven prequalified credit offerings that allow advisors to recommend loans to their clients with exceptional ease and confidence. “

The Credit Exchange generates a wide range of prequalified credit offers through a select network of lenders.

“The key innovation is that the advisor will know, before speaking with a client, what prequalified loan options are available, as well as clearly presented prices and loan terms,” said Pierre Stanton, CEO of Advisor Credit Exchange. “This market information dramatically minimizes the risk of credit downturns and concerns about competitive pricing. The credit market, literally, takes the mystery out of loans for advisors and their clients.”

About Investnet

Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial well-being. Investnet’s unified technology empowers businesses and advisors to better understand their clients and deliver actionable insights that drive better results and improve lives.

Envestnet Wealth Solutions empowers businesses and advisors to better manage client outcomes and strengthen their practices with its state-of-the-art wealth management operating system and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for Registered Investment Advisors (“RIAs”). Envestnet | MoneyGuide provides goal-based financial planning applications. Envestnet Data & Analytics Enables Innovation and Knowledge Through Its Envestnet | Yodlee data aggregation platform.

Over 100,000 advisors and over 4,700 businesses, including: 16 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, more than 500 of the largest RIAs, and hundreds of service companies Internet, take advantage of Envestnet technology and services. Envestnet solutions improve knowledge of the customer, accelerate customer onboarding, improve digital customer experiences, and help drive better outcomes for businesses, advisors and their clients.

For more information on Envestnet, please visit www.envestnet.com and follow us on Twitter at @ENVintel.

About Advisor Credit Exchange, LLC

The Advisor Credit Exchange (ACE) is a technology-enabled network that brings together lenders and wealth managers, enabling investment firms and advisers to deliver financing solutions to build their clients’ net worth and achieve their financial goals. By integrating liability management with asset management and protection solutions, ACE has created new opportunities for advisors to help clients achieve financial well-being.

For more information on Advisor Credit Exchange, please visit www.advisorcreditexchange.com.

Envestnet, Inc. has a financial interest and serves on the board of directors of Advisor Credit Exchange (“ACE”). ACE provides lending solutions to advisors and their clients through the Envestnet platform through the subsidiary of Investnet, Envestnet Financial Technologies.

Media contacts
Dana taormina
JConnelly for Envestnet and Advisor Credit Exchange
973.850.7305
[email protected]

SOURCE Envestnet, Inc.

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http://www.envestnet.com



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