In this scenario, today’s episode of International Finance’s “Start-up of the Week” will be special, as we will talk about a Web3 venture that now claims to be able to track tariffs automatically on goods coming into and out of the USA using its blockchain platform. The venture, named “Watr,” is already validating commodities for large mining companies and auto manufacturers.

Potential Game-Changer In The Making?

Created by former Shell, BP, and JP Morgan executives, the company is headed by Maryam Ayati, who led global origination and investment at Shell Trading. As per a TechCrunch report, Watr’s investors belong to a syndicate of “thus-far unnamed crypto VCs” and “commodity executives.”

While stating that, through Watr, a commodity can be pre-checked for tariffs before a transaction takes place, Ayati stated, “Some non-Western governments we’ve spoken to say that Western-country commodities traders sometimes claim that a commodity they’ve bought will be going to, for example, Europe, but then it’s sent to, for example, an Asian market. And they make a lot more money on that because they don’t give the correct cut to the original commodity owners. With our system, the minute tariffs are due, even before money changes hands, the commodity can be checked for whether a tariff is due or not.”

While there are chances that the start-up’s solution can be used to ensure strict implementation of American tariffs, the same tool can also be used to speed up global trade (and the USD 20 trillion worth of global commodities industry) hit by any tariff-induced slowdowns. Watr’s platform tracks commodities using blockchain-based tools, ranging from decentralised IDs for institutions to digital fingerprints for raw materials.

Watr’s journey started in 2022 with a “nutrition label” to track the provenance of a commodity in terms of regulations, such as CO2 emissions or other ESG considerations. Now, in 2025, the venture is switching to domains like sanctions and tariffs, using its blockchain platform to test the provenance of commodities to ensure its clients aren’t inadvertently overstepping any regulatory hurdles before a trade is completed.

Watr recently migrated to the Avalanche blockchain network. The latter, developed by Ava Labs, allows companies like Watr to create so-called “sovereign chains” — tailored to specific industry needs, in this case, the world of commodities. It’s already used by JP Morgan, Citibank, and FEMA.

How Watr Works

Watr believes that the future of commodities isn’t built by outsiders—it’s built by those who know how these markets run, how capital flows, and where innovation is most useful.

“Watr is the first open blockchain ecosystem designed for commodity markets, by those who have built, traded, and financed them at scale. Neo Holdings, creator of Watr and its ecosystem developer, is led by veterans of energy, commodities, startups, and blockchain,” the start-up added.

Neo Holdings itself works on the principle of making industry expertise meet decentralised innovation, curating and commercialising new digital technology and market ventures across the commodities industry in the process.

Neo is not just building products for Watr; it’s curating an ecosystem where liquidity, trade, and compliance meet digital-first infrastructure. Watr has become a public blockchain, open for entrepreneurs, developers, and institutions to build the next generation of commodity markets.

Watr has built and scaled blockchain-based market infrastructure, from trade finance platforms to tokenized assets, bringing industry leaders, traders, investors, and entrepreneurs on the same platform to “solve real problems for real users.” The start-up designs its solutions with interoperability, scale, and regulatory compliance in mind, ensuring real-world adoption and growth.

Watr’s decentralised market infrastructure works on two key mechanisms. The first is “Watr ID,” which is a sort of “Identity Layer,” containing verifiable, self-sovereign digital identities for businesses, individuals (traders, commodity professionals, investors, and developers), and assets, enabling trusted commodity trade, reducing counterparty risk, and streamlining financing with reusable, compliant identity credentials.

Next is “WatrMrk,” which provides digital provenance for commodities—ensuring assets are tracked, verified, and programmable, thereby creating a tamper-proof, on-chain record of asset origin, attributes, and transaction origin, critical for risk assessment, sustainable trade, and price discovery.

Partnering with Watr helps commodity sector players set the terms for new contracts, risk models, and execution structures that will define “tomorrow’s market.” Also, they can fund and collaborate with disruptors who can redefine the commodity sector’s operations through their innovations.

Watr also helps its clients unlock financing channels, such as programmable and real-world on-chain risk models. Through this, entrepreneurs, fintechs, and market pioneers can quickly develop new financial instruments, risk models, and digital trading applications.

At the beginning of our article, we stated Watr’s ability to track tariffs automatically on goods coming into and out of the USA using its blockchain platform, apart from validating commodities for large mining companies and auto manufacturers.

At the centre of these claims, we have a compliance layer, which is a portable, immutable KYC credential ensuring seamless regulatory compliance across platforms and ecosystems. To back it up, Watr has also introduced NeoReserves, a capital layer that provides on-chain liquidity pools and new trade financing models for commodities.

We also have VentureStream, a launchpad and innovation hub for startups building commodity-tech solutions, fostering a vibrant developer ecosystem, and connecting entrepreneurs with legacy market participants. Together, all these components form the building blocks of a programmable commodities economy, ensuring transparency, compliance, trust, reputation, smooth capital flow, and growth and adoption.

A-Z About Watr’s Migration To Avalanche Blockchain Network

Watr, to redefine the USD 20 trillion global commodities industry, has migrated to an Avalanche L1. This move will bring one of the world’s most critical sectors—spanning metals, minerals, food, and fuel—on-chain, thereby leveraging Avalanche’s infrastructure to unlock composability and capital efficiency at scale.

Avalanche’s modular architecture will empower Watr to launch purpose-built blockchains tailored to individual commodities, counterparties, and compliance requirements—without sacrificing speed or interoperability. Trusted by major institutions like JPMorgan, Citi, and FEMA, Avalanche provides the institutional-grade performance required to scale real-world asset applications.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralised applications (dApps). With its unique blend of speed, flexibility, and scalability, the entity has become the preferred choice for innovators pushing the boundaries of blockchain technology.

The post Start-up of the Week: Web3-based Watr to help commodity market to track ‘Trump Tariffs’ appeared first on International Finance.

Ultra-high-net-worth individuals are now giving a new fillip to the Emirate’s real estate dreams. More and more family offices are now being set up in the UAE, and the market size is expected to reach the Dh3.67 trillion mark by 2028. As per reports, these family offices are becoming the new wealth parking mechanism for the ultra-rich. As per stats, an estimated 17,000 family offices worldwide have combined assets of $10 trillion and around 25% of these assets have been placed in the real estate sector.

All eyes on Dubai
Hedge funds, crypto companies and venture capital firms are now increasing their presence in the UAE, due to new reforms and legislations, seen as conducive for family offices and wealth management firms.

As per reports, in 2021 alone, UAE’s financial wealth grew by 20%, a ratio which was double that of its global counterpart of 11%. This tally is more than enough to cement the Emirati’s status as a haven for family wealth.

In the same year, ultra-high-net-worth individuals and family offices poured some 41% wealth into the UAE GDP. By 2026, the share will likely increase to 46% by 2026.

Analysts project that the Gulf country’s financial wealth will continue to expand at a compounded annual growth rate of 6.7% and reach $1 trillion by 2026, up from $700 billion (Dh2.57 trillion) in 2021.

Family businesses in the UAE play a key role in the emirate’s economy, as they contribute to nearly 60% of the country’s GDP growth, apart from employing 80% of the country’s domestic workforce in their operations.

Recently, Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited and The Family Office Company set up their premises in the Dubai International Financial Centre (DIFC).

The Centre (DIFC) has attracted several notable names recently, currently hosting over 300 wealth and asset management companies. These ventures represent an industry size of $450 billion (Dh1.65 trillion). More than 150 funds were domiciled in the DFIC by 2022 end.

With $517 billion of wealth in Dubai, the Emirati city has emerged as the Middle East’s golden bird, as DFIC continues to attract global and regional asset management firms to set up an office.

“With the enactment of the new regulations, Dubai will likely witness a significant transfer of wealth from other popular hubs like the US, Luxembourg, Singapore, and Hong Kong. Owing to Dubai’s geo-strategic location and investor-friendly laws, Asian family offices could especially look to establish and expand their base from here,” said Vijay Valecha, Chief Investment Officer, Century Financial, while interacting with the Khaleej Times.

Around 30% of the Asian family offices have more than $1 billion in assets under management, something which will have a positive impact on DFIC’s growth in the coming days.

As per Valecha, the UAE has chartered a growth strategy to see itself as a global investment destination and evidently, its business-friendly policies tend to attract talent, paving the way for global family offices to set up their operations in the country.

“In the past decade, the UAE has undertaken a series of legislative reforms to promote the smooth transfer of wealth and ownership of family-owned assets and businesses. This includes the issuance of trust and foundation legislation, and was followed by the enacting of a wills system for non-Muslims, in both DIFC and Abu Dhabi Global Markets,” he remarked further.

Tracking the government initiatives
To help double family-owned businesses’ contribution to the nation’s GDP to $320 billion in 2032, UAE introduced legal reforms in January 2023. Experts see the move in line with the country’s economic diversification goals by attracting investment in key sectors, investments which will strengthen UAE’s corporate sector further, so that the latter can contribute to the GDP more in coming years.

The new law enables family businesses to overcome challenges when planning succession under the existing regulatory framework of the UAE Companies Law.

The law applies to all family-owned companies that exist in the UAE, and the venture owners who own the majority of the shares in these businesses as family companies in accordance with the existing UAE legal provisions.

“This law would assist family businesses in diversifying their operations, establishing pioneering ventures in modern economic areas, and strengthening their partnerships and opportunities both inside and outside the country. The program seeks to turn 200 family business projects into big corporations with a market value of more than Dh150 billion ($40.84 billion) and yearly revenue of Dh18 billion by 2030 which would go a long way in transforming UAE’s growth story,” Valecha said.

The law under discussion here, Federal Decree Law No. 37 of 2022 on family businesses, had been introduced by the UAE government in November 2022 to enhance and raise the family business environment in the country to globally competitive levels.

Essam Al Tamimi, founder and Chairman of Al Tamimi & Company in 2022 said that the law would define a family company as a venture incorporated under the Companies Law whose majority of shares have been owned by persons belonging to the same family and were registered in a special register of family companies at the Emirate’s Ministry of Economy.

“Under the law, a company loses its family company status if the partners from among family members cease to be majority shareholders, and with that, the company loses its benefits under the law,” he explained further.

“The law applies to all existing family companies or thereafter incorporated in the UAE, with the exception of public joint stock companies and general partnerships. In this regard the law does not create a new form for the family company as family companies will still take the same forms already in place in the UAE under the Commercial Companies Law or in the free zones as per their own legislations,” the expert commented further.

“Where a special provision exists, such provision shall apply and not the provisions of the Companies Law. As long as a company comes under the definition of a family company, then it enjoys the unique benefits, incentives, and exclusions available under the Law or such decisions as the Cabinet or the competent authority may issue in the implementation of its provisions,” Al Tamimi concluded.

Flexibility in selecting partners & resolving disputes
The latest legal reform now gives family companies the right to adopt a charter that will regulate their business governance, apart from providing freedom to these business charters to include conditions, standards, and qualifications to be met for family members to be considered for employment with the concerned companies.

The law also provides for other mechanisms to regulate family governance and the former’s relationship in relation to the company through entities such as family assemblies, family councils and family offices.

The reform is also different from the Commercial Companies Law, as it doesn’t set a maximum limit on the number of partners a family company can have and gives these ventures the right to agree, in the memorandum of association and charter, on equal/different rights for the partners with respect to dividends, management, and other rights and benefits. The law also permits these ventures to operate different classes of shares, dividends and voting rights, as per the partners’ wishes. However, the new law also gives strict controls and procedures on the disposal of shares to non-family members, whereas the business partners will get a pre-emption right in addition to a right of redemption.

Also, the family company can purchase its own shares, a right which was previously restricted to joint stock companies only. The legal reform has now ensured that these families will now have additional means to protect their companies and preserve ownership continuity, while exercising the flexibility to exit the ventures at their convenience.

Talking about the dispute-resolving mechanism, the reform has set out various flexible options for the family members and partners, including a conciliation process to be agreed upon in the memorandum of association/charter, through a board constituting individuals, partners or third parties. If these options fail, the matter then will be decided by the dispute resolution committee, which will be established by a decision of the Minister of Justice or the head of the local judicial authority.

Understanding UAE’s family business ecosystem
Family businesses have a long and strong presence in the Gulf region, contributing positively to the economies in this part of the world, especially when it comes to the non-oil sectors. Dubai has been home to these ventures, and their operational holdings cover multiple sectors from retail and leisure to financial services.

As per reports, family-owned businesses contribute 60% of the country’s GDP and 80% of the nation’s workforce. A tally by Forbes Middle East suggests that the Gulf Cooperation Council (GCC) has emerged as the safe haven for family businesses. The Forbes list has been topped by Saudi Arabia (36), followed by the UAE (21), Kuwait (10), Oman (6), Bahrain (5), Qatar (5), Jordan (4), Morocco (4), Algeria (3), Egypt (3) and Lebanon (3).

Decoding the figure further suggests that around 87% of the region’s family businesses are diversified while the rest have specialised their operations into sectors like real estate, jewellery, FMCG (fast-moving consumer goods), industrial, food and beverages and retail. The top 10 business families in the GCC region have employed some 600,000 people with a net worth of more than $31 billion (Dh114 billion).

Talking about the UAE, Forbes’ list called ‘Top 100 Arab Family Businesses In The Middle East 2020’ has mentioned family businesses like Al Futtaim Group and Majid Al Futtaim, Al Ghurair and Al Ghurair Group, SS Lootah Group, Juma Al Majid Holding Group, AW Rostamani Group and Easa Al Gurg Group, Al Habtoor Group, Al Naboodah Holding, Khalifa Juma Al Naboodah Group, Ali & Sons Holding, Albwardy Investment, Ghassan Aboud Group, Abu Ghazaleh Investments, Al Nowais Investments, Al Shirawi Group’s holding company – Oasis Investment Company, Al Fahim Group, Chalhoub Group, Al Tayer Group and Gulf Marketing Group.

UAE’s tryst with family businesses started in 1838, when the family of JP Morgan founded the House of Morgan, which managed the family’s assets. Rockefeller family followed suit after four decades by establishing its family office in the Gulf country. A recent study from international trust and corporate management company Intertrust Group has found that family offices are the fastest-growing structuring vehicle in the Middle East.

Industrial zones like Abu Dhabi Global Market (ADGM), Dubai International Financial Centre (DIFC) and Dubai Multi Commodities Centre (DMCC) have their own piece of regulations on setting up family offices in those free zones. Legal terms like the definition of family members, minimum paid-up capital requirements, and compliance and reporting requirements, vary in these three free zones. These zones also do not tax any corporate income/capital gains of these family offices.

Also, a family office is allowed to provide asset and wealth management services, day-to-day accounting and management of legal affairs, and administrative services to the various ventures working under its umbrella.

Good days ahead for UAE
As per Betterhomes’ latest figures, British, Indian and Russian nationals have emerged as the top investors in Dubai’s real estate market in the first quarter of 2023, followed by investors from Italy, Lebanon, Egypt, Turkey, France, China and the UAE.

The factors contributing to this phenomenon are the escalating costs in Europe after the Ukraine war, Dubai’s efficient handling of the COVID outbreaks, a stable economy, 100% foreign ownership, and the availability of 10-year Golden Visas.

The Dubai-based Samana Developers too confirmed the development, by stating that Europeans were top investors in its latest real estate project. Najmeh Jafari, general manager of Samana Developers, told that the Europeans who invest in Dubai properties are from France, Germany, the UK, the Netherlands, Sweden, Switzerland, Austria, Belgium, and Norway.

Ayman Youssef, vice-president, Coldwell Banker UAE, also said that property buyers in the Emirati city are primarily coming from Germany, France and Switzerland.

“The UAE property market has managed to maintain attractive prices with higher yield/return per unit as compared to most countries in Europe. Today one can get up to 8% returns which is quite high compared to what any European country can offer. Also, the Golden Visa, 100% ownership right, better business opportunities and other factors are encouraging people to invest more in the emirate,” the official stated.

“Dubai’s real estate sector continues to see strong international demand from across the globe, as people seek a safe haven, tax efficiency and positive investment returns. Buyers from the UK accounted for the most real estate transactions at Betterhomes in the first quarter, with growth of 60 per cent year-on-year. This was closely followed by buyers from India,” Coldwell said in its first quarterly report.

The Dubai International Financial Centre (DIFC) in February 2023 announced the enactment of its new Family Arrangements Regulations, which would provide a firm foundation for the new DIFC ‘Family Wealth Centre’, in terms of offering an operational framework and hub for family-owned businesses. The regulation, named the ‘Family Arrangements Regulations’, will provide comprehensive guidelines for family businesses holding assets, especially when it comes to these ventures’ succession procedures and planning for how the future generations will take the businesses ahead.

The new set of rules will replace the legacy ‘Single-Family Office Regulations’ and ‘DIFC Single Family Office’ regimes with a new one that will eliminate the requirement for a family office to register itself as a designated non-financial business or profession (DNFBP) with the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC. Multi-family offices will, however, require authorisation and licensing by the DFSA.

Family businesses have been a part and parcel of the UAE economy. These ventures are now pumping the growth story of the country’s non-oil sector. The government too has understood the importance of having the offices of these companies within its territory and they have responded to it by reforming its family business rules. With Dubai being the new investment destination for ultra-high-net-worth individuals from around the globe, one can safely bait for good days ahead for the UAE.

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Fintechs provide more efficient services, apart from having better user interfaces, thus disrupting the conventional banking playbooks. Toptal, a network of on-demand talent from around the world, says that customers expect more from their financial services after the Financial Crisis of 2008. Technology has enabled consumers to investigate their service providers and startups are using it to deliver better, more efficient services.

Hence, banks are now looking to use fintech’s advantages. One of these methods will involve a scaled-back form of early access to paychecks.

Capital One has advertised that clients may get their salary two days early in several high-profile TV spots. JP Morgan has also provided similar services. Early salary access has become crucial in the fintech rivalry toolbox. Banks need to include the entire essence of the function in advertising early wage access. Two days could be excellent for specific clients, but early access should be something other than the feature’s primary goal. On-demand pay, often known as earned wage access, is required. Let’s debunk some misconceptions regarding on-demand income and the realistic and constructive approach to early wage access in banking.

Misconception 1: A consumer’s ability to pay bills two days before payday may make or break their situation.

Reality: Having access to your money two days early might be helpful if the timing is ideal within that limited time frame. In contrast, customers use on-demand pay to cover expenses that might otherwise be overdue or urgent or unforeseen expenditures at any point in the pay cycle. What happens if a household member has unpaid medical bills? Or has a health plan with a high deductible. Here, two days had no effect. On the other hand, on-demand compensation has a natural impact on the health and happiness of a family and its members.

Misconception 2: Access to said early wages is free.

Reality: Indeed, it is only in a few instances. The checking account package includes it. Early access from JP Morgan is included with Secure Banking, which costs USD 4.95 per month. Also, the box eliminates overdraft fees, which banks have been attempting to defend for a while. Although the Capital One version has lower costs, it only allows USD 225 in withdrawals on the first day. Here, banks have discovered a fantastic tool for retaining and valuing customers. Running a large bank like Capital One means that every consumer interaction has an impact.

To improve the value of high-net-worth people (HNWIs), for instance, you may launch a platinum credit card with no spending restrictions. You may send money abroad without paying anything. You’ll develop something like ‘Secure Payment’ if you’re trying to draw in and keep lower-income customers or people who live on monthly paychecks. Again, imposing restrictions or charging a price for early wage access is pointless. Banks must acknowledge the struggles of the USD 50,000–80,000 wage group and create a line of products that enables them to be ready for the unanticipated if they want to be genuinely relevant and increase customer value.

Misconception 3: Banks are sacrificing their interests to give customers early wage access.

Reality: They aren’t. In actuality, it isn’t even a creative application of payment technology. Every direct deposit payment has an official date. Thus, it is the day the firm plans to pay employees. An employer will typically submit a payroll file containing direct payments to the employer’s bank one or two days before payday. Banks, therefore, possess the funds. They will receive a little less money in interest on the deposit. But, even though their messaging makes it seem like they are putting out for the consumer, it’s a simple grab.

As a result, banks have learned how to increase the value of lower-income accounts and use a potent marketing weapon, thanks to their fintech peers. When it comes to on-demand pay, however, this two-day early access strategy will only provide customers with the alternatives or security that genuine on-demand pay can provide.

The post The early wage access trend in banking: Decoding myths appeared first on International Finance.

Reporting fourth-quarter results, JPMorgan set out technology spending plans that will use microservices architecture, cloud and modern engineering practices to accelerate software development. The company will also start using artificial intelligence (AI) and machine learning to get more value out of its data and stress its commitment to cybersecurity.

Additionally, JP Morgan will also continue making acquisitions, following up on recent deals to buy OpenInvest, Nutmeg and a 75 percent stake in VW Payments. The company also mentioned that it is planning to redesign the way it attracts and retains the best technology people.

James Shanahan, an analyst with Edward Jones, told the media that the $12 billion technology spending is an astounding number and it blows away the cumulative dollar value of investment of all the fintechs in the world that are trying to disrupt them. The company also warned that its increased expenses will probably hit its return on tangible capital equity.

Since the beginning of the Covid-19 pandemic, JP Morgan’s shares have nearly doubled but fell by 6 percent last week. This also dented the stock price of other major banks that are set to report earnings next week, with Morgan Stanley down by 3.6 percent, Goldman Sachs by 2.5 percent and Bank of America by 1.7 percent.

The post JP Morgan Chase announces to spend $12bn on tech in 2022 appeared first on International Finance.

Sael Al Waary, Deputy Group CEO of Bank ABC told the media, “The pilot was tested using US dollars, and this technology will allow us to scale up our existing offering and introduce more currencies in the future. We envisage major changes across the world with digital currencies, which will play a critical role in enabling future digital economies.

The JPM coin system tokenizes money that is present in JP Morgan bank accounts and is not a stablecoin. Digital currency payments are direct but that wouldn’t be needed with all parties banking at the same bank. With the currency becoming digital, it becomes programmable, giving corporates greater flexibility for the timing and conditions that trigger payments.

After the rests were first announced in May, the central bank announced that it would consider the system for central bank digital currency (CBDC) trials. Additionally, the central bank expressed satisfaction with the system’s ability to eliminate inefficiencies that exist with cross border. According to a recent research report from JP Morgan and Oliver Wyman, it predicted that CBDC could save $100 billion in cross border payment costs. JP Morgan’s Onyx was involved in a cross border CBDC trail between France and Singapore.

The post Bahrain Centra Bank debuts JPM Coin remittance trial appeared first on International Finance.

While JP Morgan and HSBC were hired as joint global coordinators, by Ahli United Bank, the likes of Bank ABC, Dubai Islamic Bank, Kamco Invest, KFH Capital, Kuwait International Bank and Mashreq joined as joint lead managers.

Recently, it was also reported that Dubai Islamic Bank (DIB) is also planning to soon sell US dollar-denominated senior Sukuk, or Islamic bonds. It is believed that DIB, which is the largest Islamic lender in the UAE, has already hired banks for the deal, which is expected as soon as next week.

According to the IIF, this year, the Gulf raised a combined $95 billion in the international markets, while in 2020 international bonds from the region totalled $111 billion, dominated by sovereigns and quasi-sovereigns.

According to a report by S&P Global Ratings, global Islamic Finance is set to grow by 12 percent during 2021 and 2022, after slowing down to 10.6 percent in 2020. The growth of Islamic Finance this year and the next, will be driven by increased Sukuk issuance in key markets.

Sukuk issuance across the globe this year is forecasted to increase by $140 billion to $155 billion, the report said. Sukuk issuance dropped in 2020 to $139.8 billion due to the coronavirus pandemic from $167.3 billion in 2019.

The post Ahli United Bank Bahrain hire HSBC, JP Morgan for Sukuk sale appeared first on International Finance.

The group will also primarily focus on clients of high-net-worth who have the ability to invest in the firm’s capital along with investors. The JP Morgan private capital will be led by Brian Carlin, previously CEO of Wealth Management Solutions at JP Morgan, along with Rick Smith, former Head of Private Investments at JP Morgan Chase, and Meg McClellan, serving as the Head of Private Debt.

JP Morgan also announced that they have hired Christopher Dawe from Goldman Sachs as Managing Partner along with Osei Van Horne from Wells Fargo. Dawe will lead the technology and consumer growth equity business while Horne will be in charge of investment across industries with a focus on climate action and inclusive economic growth.

Mary Erdoes, Chief Executive Officer, JP Morgan Asset & Wealth Management told the media, “JP Morgan Private Capital will harness JP Morgan Chase’s unparalleled scale, network and resources to deliver a best-in-class growth equity and private debt investment platform.
“By combining our debt and equity capabilities, we are ideally positioned to help companies and clients from around the globe access liquidity and investment opportunities across capital markets. Growth equity and private debt are among the fastest-growing asset classes in the alternatives industry, with strong demand from both individual and institutional investors to look beyond public markets.“

The post JP Morgan asset management launches growth equity platform appeared first on International Finance.

It is unclear how much Aramco is planning to raise through the Islamic bond sale. Previously, Aramco raised $12 billion by selling bonds in 2019 and an $8 billion offering in November last year, however, they were not Islamic bonds. Aramco is raising money to help pay an annual dividend of $75 billion.

It was also reported that Saudi Aramco has hired a large group of banking giants for its Islamic bond sale. The active book-runners on the deal are Alinma Invest, Al Rajhi Capital, BNP Paribas, Citi, First Abu Dhabi Bank, Goldman Sachs International, HSBC, JPMorgan, Morgan Stanley, NCB Capital, Riyad Capital, SMBC Nikko and Standard Chartered Bank.

Passive book-runners on the deal include Albilad Capital, AlJazira Capital, Alistithmar Capital, ANB Invest, Credit Agricole, Dubai Islamic Bank, Emirates NBD Capital, GIB Capital, MUFG, Saudi Fransi Capital and Societe Generale among others.

Earlier this year, Saudi Aramco has agreed to a new $12.4 billion pipeline deal with a consortium led by EIG Global Energy Partners, media reports said. According to the deal, Aramco will sell a 49 percent stake in Aramco Oil Pipelines Company to the EIG-led consortium.

Aramco President Amin Nasser told the media, “This landmark transaction defines the way forward for our portfolio optimisation programme.”

The post Oil behemoth Aramco begins Islamic bond sale appeared first on International Finance.

Laurence Fink, BlackRock’s chairman and chief executive officer, said in a statement, “The Chinese market represents a significant opportunity to help meet the long-term goals of investors in China and internationally. We are committed to investing in China to offer domestic assets for domestic investors and look forward to creating a better financial future for more people.”

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), earlier said that China welcomes more foreign entry into China’s financial sector, including the wealth management space.
Earlier this year, it was reported that US-based investment bank and financial services company JP Morgan is seeking another Chinese wealth management joint venture.

JP Morgan is not the only multinational bank or entity eyeing the wealth management space in China, which is estimated to grow to as much as $30 trillion in 2023. By establishing its joint venture JP Morgan would be competing with a joint venture between Blackrock, Temasek and China Construction Bank, which was approved in August 2020, as well as an Amundi-Bank of China JV.

It was also reported that Citi Group to ramp up its wealth management division in the Asia-Pacific region as part of its push to boost assets under management in the region by $150 billion by 2025.

The post BlackRock’s wealth management JV to start operation in China appeared first on International Finance.

Ether vs Bitcoin

Ether has been soaring, eclipsing $4,000 for the first time ever. In the last couple of weeks, we have witnessed Ether grabbing the headlines whereas, for over a year, it was bitcoin that dominated the papers when it comes to crypto news. Said that, in 2017, Ethereum shot up to more than $1,400 amid a crypto boom during that period, however, its value dropped by more than 90 percent during the eventual bust. Bitcoin, on the other hand, touched the $65,000 mark earlier this year. So, what edge does Ether have over bitcoin?
While both bitcoin and Ether are traded through crypto exchanges and stored using digital or crypto wallets, the major and most notable difference between the two cryptos is the motive for their creation. Bitcoin was launched in January 2009 as an alternative payment method and to counter national currencies. Its purpose was to establish a decentralised global currency. Ethereum, on the other hand, was launched in July 2015 as a platform to facilitate programmatic contracts and applications with the use of its native currency.
Ether enables smart contracts that are faster, resilient, and much better when compared to other cryptocurrencies like bitcoin. Ether also has many Decentralized Finance (DeFi) characteristics associated with it such as high scalability. This very feature gives Ether an edge over bitcoin. Unlike the peer-to-peer network of bitcoins, it also facilitates the transfer of Non-Fungible Tokens (NFT). An upgrade of Ethereum Blockchain is also highly anticipated because it will allow the Ethereum network to run at scale and also process a lot more transactions at a faster pace.

Ether vs Bitcoin vs Dogecoin

Another crypto that is making headlines in recent times is dogecoin. The meme-inspired cryptocurrency, which was initially created as a joke, has also soared recently. Its value has soared 11,000 percent year-to-date and has reached a market cap of $85,314,347,523 on May 5, 2021. While it’s unclear where dogecoin is heading, some crypto enthusiasts are open to the idea of investing in dogecoin. This year alone, its value skyrocketed more than 7,800 percent. Many also see Dogecoin as a competitor to bitcoin as well as Ethereum. Dogecoin price reached an all-time in April after Elon Musk endorsed the crypto through a tweet.

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