Latest news with #asset
Business Insider
2 days ago
- Business
- Business Insider
Zodia Custody Expands Institutional Staking with Everstake as Validator Partner Across Multiple PoS Networks
Miami, FL, June 19th, 2025, Chainwire Everstake, a leading global non-custodial staking provider serving institutional and retail clients, has partnered with Zodia Custody, a leading institutional digital asset custodian backed by Standard Chartered, SBI Holdings, Northern Trust, and National Australia Bank. Through this collaboration, Everstake will support institutional staking for Zodia Custody clients by providing validator infrastructure across multiple Proof-of-Stake (PoS) networks. To align with institutional expectations, Zodia is introducing staking with Everstake. The first tranche brought support for Polkadot (DOT), Cardano (ADA), and Solana (SOL), with Everstake serving as a trusted validator partner across these networks. In the second tranche, the infrastructure will also extend to Ethereum (ETH), NEAR Protocol (NEAR), and Babylon (BABY), with support scheduled to go live in the coming months—further expanding staking capabilities for Zodia clients. Staking is playing an increasingly prominent role in institutional digital asset strategies, but slashing risk, compliance, and infrastructure reliability remain key barriers. This partnership addresses those challenges by combining Zodia's secure, institutional-backed custody platform with Everstake's institutional-grade validator infrastructure, offering 99.9% uptime and full compliance with ISO/IEC 27001:2022, SOC 2 Type 2, and GDPR. Together, they provide a natural solution for institutions seeking secure, compliant staking at scale. By integrating directly into Zodia's custody platform, Everstake enables staking without requiring clients to compromise custody. Assets are staked through Zodia's internal API infrastructure and routed to Everstake's whitelisted nodes. Everstake never accesses customer keys or assets; all operations remain auditable, transparent, and aligned with institutional governance. 'Institutions are looking for ways to put their digital assets to work without compromising on security or compliance,' said Julian Sawyer, CEO of Zodia Custody. 'By partnering with Everstake, we're enabling clients to stake assets like SOL and NEAR directly from custody while maintaining full oversight, control, and governance over the process.' 'We believe staking will underpin the next wave of institutional adoption in digital assets,' said Bohdan Opryshko, co-founder and COO of Everstake. 'Our partnership with Zodia reflects the growing demand for compliant staking infrastructure built to institutional standards. We're proud to support this new tranche of their program and help deliver institutional-grade staking to their clients.' About Zodia Custody Zodia Custody is an institution-first digital assets platform backed by Standard Chartered Bank, SBI Group, Northern Trust and National Australia Bank. Offering a seamless combination of custody, treasury and settlement solutions, Zodia Custody enables institutional investors worldwide to embrace the digital asset future with confidence, security and efficiency. Everstake is a leading global non-custodial staking provider serving institutional and retail clients and enabling secure access to over 85 Proof-of-Stake networks. Founded in 2018 by blockchain engineers, the company supports more than 735,000 delegators, $6.5 billion in staked assets, and 40,000+ active validators — delivering institutional-grade infrastructure with 99.9% uptime and zero material slashing events since inception. Trusted by asset managers, custodians, wallets, exchanges, and protocols, Everstake offers API-first, compliant infrastructure backed by SOC 2 Type 2 and ISO 27001:2022 certifications, GDPR compliance, and regular smart contract audits. Its globally distributed team of 100+ professionals is committed to making staking accessible to everyone while strengthening the foundations of decentralized finance. Everstake is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services, or take custody of or otherwise hold or manage customer assets. Everstake does not conduct independent diligence or substantive review of any blockchain asset, digital currency, cryptocurrency, or associated funds. Everstake's provision of technology services allowing users to stake digital assets is not an endorsement or a recommendation of any digital asset. Users are fully and solely responsible for evaluating whether to stake digital assets. PR Manager
Time Business News
3 days ago
- Business
- Time Business News
Banking Passports Explained: Identity, Compliance, and Global Access
VANCOUVER, B.C. — In an increasingly complex global financial system shaped by transparency laws, de-risking policies, and digital compliance platforms, the need for secure and adaptable financial identities has never been greater. For entrepreneurs, high-net-worth individuals, expatriates, and clients with geopolitical risk exposure, the banking passport has emerged as a key solution, offering legal access to cross-border banking, flexibility in identity verification, and regulatory alignment. This press release explores what banking passports are, how they function, and why global clients are turning to structured identity frameworks to navigate the ever-tightening corridors of international finance, including FATCA and CRS compliance, as well as institutional onboarding. What Is a Banking Passport? A banking passport is not a traditional travel document. Instead, it is a legal identity package that allows individuals to access foreign financial services through verified components, including: A legally issued Tax Identification Number (TIN) Proof of residency or limited nationality Compliant KYC (Know Your Customer) and AML (Anti-Money Laundering) documentation and documentation Full disclosure compatibility with CRS (Common Reporting Standard) and FATCA (Foreign Account Tax Compliance Act) Unlike traditional offshore models that rely on nominee entities and shell companies, the modern banking passport is transparent, digital, and legally resilient—designed to satisfy both the account holder and regulators. Why the Global Elite Use Banking Passports 1. Cross-Border Banking Access Banking passports enable individuals to open accounts outside their country of citizenship or tax residence, legally and in full compliance. 2. Currency Diversification and Capital Freedom By using a banking passport, clients can legally store, earn, and invest in foreign currencies and jurisdictions—even when their home country has capital controls. 3. Asset Protection Banking passports enable individuals to move funds legally into jurisdictions with more robust asset protection laws and stronger financial privacy infrastructure. 4. Risk Mitigation from Home Jurisdiction Instability Whether due to political repression, inflation, or the risk of seizure, individuals in volatile jurisdictions use banking passports to escape fiscal fragility without breaking the law. Legal Components of a Banking Passport A legitimate banking passport includes several layers of identity documentation. These often include: TIN (Tax Identification Number) : A mandatory requirement for CRS and FATCA compliance, issued by a legally recognized tax authority. : A mandatory requirement for CRS and FATCA compliance, issued by a legally recognized tax authority. Proof of Residency : Typically achieved through investor residency programs, long-stay visas, or special economic zone permits. : Typically achieved through investor residency programs, long-stay visas, or special economic zone permits. Government-Issued ID : Validated biometric passport or national ID from a compliant jurisdiction. : Validated biometric passport or national ID from a compliant jurisdiction. CRS/FATCA Self-Certifications : Forms like W-9 (U.S. citizens) or CRS declarations for non-U.S. persons. : Forms like W-9 (U.S. citizens) or CRS declarations for non-U.S. persons. Utility Bills or Lease Agreements : Secondary proof of domicile for onboarding banks. : Secondary proof of domicile for onboarding banks. Live Biometric Verification: Required by banks in the EU, Singapore, UAE, and Hong Kong. Case Study 1: EU-Based Identity for Asian Private Banking Access A Malaysian tech executive working in Singapore obtained legal residency in Malta in 2023 through an investment-based visa. This granted him a TIN and proof of EU-based residency. Using this 'banking passport,' he opened private accounts in Zurich and Dubai under full CRS compliance. His Singaporean salary was declared under his Malaysian tax identification number. At the same time, his offshore consulting income was legally routed through the Malta Tax Identification Number, with all declarations filed through the respective tax authorities. Result: diversified wealth and zero regulatory red flags. Regulatory Frameworks: FATCA and CRS Compliance Banking passports do not replace transparency—they enable compliant access under major reporting regimes. FATCA: Enforced by the U.S. Treasury and IRS, FATCA requires: Reporting of foreign accounts held by U.S. citizens Declaration of global income and offshore holdings Financial institutions to collect and transmit U.S. client data CRS: Over 110 countries follow CRS, which mandates: Exchange of financial account data across jurisdictions Collection of TINs and country of tax residence Reporting of beneficial owners for corporate and trust entities A valid banking passport must align with both regimes. Clients using Amicus-designed passports are guided through: TIN matching to prevent jurisdictional overlap to prevent jurisdictional overlap Dual reporting strategies for citizens of multiple nations for citizens of multiple nations Voluntary disclosure modelling to avoid legacy penalties Amicus International Consulting: Global Leader in Legal Financial Identities Amicus International Consulting specializes in building resilient, transparent, and lawful banking passports tailored to individual needs. An Amicus employee explained: 'A banking passport is not about secrecy. It's about strategic access, legal transparency, and financial survival. We design identity systems that banks want to approve and regulators can understand.' Services include: Banking passport issuance in over 25 jurisdictions FATCA/CRS disclosure alignment Jurisdictional risk assessments based on FATF and OECD rankings Onboarding support with over 40 global financial institutions Identity restructuring for flagged or frozen accounts Pre-screened biometric and digital credential validation Case Study 2: Restoring Access Post De-Risking In 2024, a Venezuelan businessman lost access to his Caribbean-based accounts after FATCA reporting inconsistencies and local bank de-risking policies. Amicus intervened by: Securing residency and a TIN in Georgia (CRS participant, FATCA-exempt) Establishing a Singaporean corporate structure for client-facing revenue Registering beneficial ownership declarations under EU directives Re-onboarding the client at a Swiss private bank with full CRS compliance The client regained access to capital, rebuilt their credit reputation, and established a new identity path designed to withstand future audits. Who Uses Banking Passports? Amicus clients come from more than 60 countries and include: Digital nomads : Building income streams from multiple jurisdictions : Building income streams from multiple jurisdictions Entrepreneurs : Managing global businesses and client accounts : Managing global businesses and client accounts Whistleblowers : Seeking financial protection after political asylum : Seeking financial protection after political asylum HNW families : Establishing legal multi-country banking access : Establishing legal multi-country banking access Crypto investors : Seeking compliant fiat bridges and custodial accounts : Seeking compliant fiat bridges and custodial accounts Expats: Resolving nationality or access mismatches across borders Ethical Standards and Legal Oversight Amicus emphasizes compliance over concealment. Each identity framework is built under: OECD guidelines FATF recommendations Local and foreign AML/KYC statutes Biometric and digital authentication systems Fully auditable records for preemptive legal defense No shell companies, no nominee directors, no untraceable assets. Clients are advised to: Voluntarily declare all tax residencies Avoid 'passport stacking' to mask reporting obligations Maintain annual records of income by jurisdiction Pre-authorize CRS reporting for all banking passport-linked accounts The Future of Financial Identity: Digital Banking Passports Amicus is currently piloting the next evolution of banking passports: fully digital, blockchain-secured credentials containing: Biometric authentication Multi-jurisdictional TIN linkage Smart contract-enabled self-certifications Built-in revocation protocols for compromised ID credentials These passports can be used to log into bank systems, complete KYC with a QR code, and update residency information in real time, offering speed, security, and total compliance. Case Study 3: Crypto to Fiat via Multinational ID A Chinese-American investor held significant digital assets but faced onboarding blocks at several U.S. and Hong Kong banks. Amicus built a layered solution: Residency and TIN in Portugal via the D7 Visa Registered legal entity in Dubai's ADGM free zone Self-certification under CRS for all fiat accounts Cold storage custodianship in Switzerland, linked via Swiss non-resident trust Using this banking passport setup, the investor legally converted crypto into fiat and onboarded into a Liechtenstein bank without a single regulatory flag. Why Banking Passports Matter in 2025 With the world's financial system becoming: AI-policed Politically filtered Biometrically locked Cross-border enforced The traditional notion of a 'one-country identity' no longer works. Individuals must engineer their financial identity for jurisdictional resilience. A banking passport provides: Multi-system access Proof of legitimacy Pre-cleared transparency Future-proofing against audits and risk scores 📞 Contact InformationPhone: +1 (604) 200-5402Email: info@ Website:
Time of India
3 days ago
- Business
- Time of India
UK inflation eases by less than anticipated ahead of Bank of England rate decision
Inflation in the UK dropped modestly in May as a drop in air fares and transport costs were largely offset by rising food prices , particularly chocolate, official figures showed Wednesday. The Office of National Statistics said consumer prices rose by 3.4% in the year to May, down from 3.5% the previous month. That means inflation remains substantially above the Bank of England 's target rate of 2%. The bank's rate-setting Monetary Policy Committee is due to announce its latest interest rate decision on Thursday. Most economists expect the nine-member panel, which has cut borrowing rates on a quarterly basis since last August, to keep its main interest rate at 4.25%. 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 default , selected 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The decline was less than expected. Most economists were expecting the rate to come in at 3.3% for May as price rises cooled, following a raft of bill increases the previous month that pushed inflation to the highest level in more than a year. The higher-than-anticipated outcome was largely due to a 4.4% increase in food and non-alcoholic drink prices. Larder items like sugar, jam and chocolate, as well as ice cream, saw the biggest monthly price hikes, while meat costs also rose. Live Events Economists, including those at the Bank of England, expect inflation to remain above target over the rest of the year. Uncertainty over US President Donald Trump 's tariff agenda and the unrest in the Middle East make it difficult to forecast economic developments and the path of interest rates. "We are sticking with our call for the Bank of England to continue to reduce rates at a quarterly cadence," said Felix Feather, economist at asset management firm Aberdeen. "But geopolitical uncertainty and risks from US trade policy raise both upside and downside risks to this forecast."
The Sun
3 days ago
- The Sun
Johor cops bust 21 drug rings, seize RM81m in drugs since January
JOHOR BAHRU: Johor police have crippled 21 drug trafficking syndicates and seized illicit narcotics worth RM81.07 million in the first five months of this year. Johor police chief Datuk M. Kumar said the success of the Narcotics Criminal Investigation Department (JSJN) also led to the arrest of 58 syndicate members and asset seizures worth RM2.26 million. 'Additionally, JSJN recorded an impressive performance, making a total of 10,794 arrests for various drug offences during the same period. They also seized drugs worth RM83.18 million and forfeited assets valued at RM7.49 million,' he said in his speech at the Johor Police Contingent Headquarters monthly gathering here today. Kumar said the Internal Security and Public Order Department also recorded seizures of illicit cigarettes worth RM48,000 and misappropriated subsidised palm oil worth RM1.11 million. Meanwhile, the Criminal Investigation Department contributed by achieving a 59.64 per cent resolution rate for index crimes during the period. Kumar also said that 54 rape cases involving teenagers were recorded from 2023 until last year. 'One of the primary causes is the easy accessibility of pornographic content on social media, the general lack of awareness about Malaysian laws concerning such crimes, and the breakdown of family structures. This situation results in teenagers missing out on attention, affection, and supervision from their parents,' he added. To proactively address the issue, the Sexual Investigation Unit has visited schools to deliver talks and raise awareness among students about such crimes. He urged all parties to take these cases seriously, advising parents to express affection, raise their children with strong religious and moral values and stay vigilant about their children's activities and social circles. Meanwhile, at the monthly gathering, 47 individuals received appreciation awards, including four members of the public and 43 police officers from various ranks, as well as public servants from the Johor contingent. -- BERNAMA
The Sun
3 days ago
- The Sun
Johor cops bust 21 drug rings, seize RM81m in drugs since Jan
JOHOR BAHRU: Johor police have crippled 21 drug trafficking syndicates and seized illicit narcotics worth RM81.07 million in the first five months of this year. Johor police chief Datuk M. Kumar said the success of the Narcotics Criminal Investigation Department (JSJN) also led to the arrest of 58 syndicate members and asset seizures worth RM2.26 million. 'Additionally, JSJN recorded an impressive performance, making a total of 10,794 arrests for various drug offences during the same period. They also seized drugs worth RM83.18 million and forfeited assets valued at RM7.49 million,' he said in his speech at the Johor Police Contingent Headquarters monthly gathering here today. Kumar said the Internal Security and Public Order Department also recorded seizures of illicit cigarettes worth RM48,000 and misappropriated subsidised palm oil worth RM1.11 million. Meanwhile, the Criminal Investigation Department contributed by achieving a 59.64 per cent resolution rate for index crimes during the period. Kumar also said that 54 rape cases involving teenagers were recorded from 2023 until last year. 'One of the primary causes is the easy accessibility of pornographic content on social media, the general lack of awareness about Malaysian laws concerning such crimes, and the breakdown of family structures. This situation results in teenagers missing out on attention, affection, and supervision from their parents,' he added. To proactively address the issue, the Sexual Investigation Unit has visited schools to deliver talks and raise awareness among students about such crimes. He urged all parties to take these cases seriously, advising parents to express affection, raise their children with strong religious and moral values and stay vigilant about their children's activities and social circles. Meanwhile, at the monthly gathering, 47 individuals received appreciation awards, including four members of the public and 43 police officers from various ranks, as well as public servants from the Johor contingent. -- BERNAMA
