Blockchain

E Money Network launches $2 MILLION RWA Grant Program to spearhead RWA ecosystem

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    Bengaluru, India, July 3rd, 2024, Chainwire

     

    E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy.

    E Money Network’s Architecture Unlocks a World of Possibilities

    E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into applications. The E Money Network supports interoperability with Inter-Blockchain Communication (IBC), allowing the development of applications that can communicate with other IBC-compatible blockchains.

    E Money Network has built-in compliance modules including Know Your Customer (KYC), Know Your Ownership (KYB) and Know Your Transaction (KYT) to enable adherence to the upcoming Markets in Crypto Assets (MiCA) regulations. These features ensure that every entity and transaction in an application built on the E Money Network is also MiCA compliant by default.

    Objectives of the Grant Program 

    As a part of its #BUIDLonEMN initiative, E Money Network invites developer teams with disruptive RWA-centric ideas to build on the E Money Network and bring innovative solutions to life. Applicants can submit Requests for Proposals (RFPs) detailing their ideas for RWA applications . Its $2 million grant pool will be distributed as initial capital among eligible projects.

    E Money Network’s CEO Raj Bagadi quoted “RWA ecosystem is in its nascent stages, and building the RWA ecosystem with numerable RWA-specific applications will help in shaping E Money Network’s trajectory and spearheading new advancements for the wider RWA ecosystem. Hence, we are launching the biggest grant program to enable the next generation of entrepreneurs seeking to rebuild the financial markets with RWA applications.”

    Evaluation Criteria for Winning Grants

    A group of technology experts, marketing professionals and experienced community members will form the selection committee for reviewing grant applications. Applications to the grant program will be evaluated on the basis of the following criteria –

    1. The project’s objective and scope
    2. The anticipated impact of the project
    3. The project’s milestones and KPIs
    4. Expected budget
    5. Team details including roles, responsibilities and prior experience of each team member
    6. Product roadmap

    Each proposal must include at least three milestones with measurable KPIs such as user growth, TVL increase, transaction volume, etc.

    Depending on the afore-mentioned factors, projects can become eligible to win grants ranging from $5000 to $50000 based on requirements and scale of the product. Additionally, E Money Network will also provide winners of the grant program access to mentorship from industry experts, legal and compliance support, marketing and growth support, networking opportunities with other RWA projects and E Money Network’s core developers.

    How to Apply

    Interested developers and builders can join the #BUIDLonEMN initiative by filling out the grant application form here and joining E Money Network’s grant channel on Discord. After the submission of the application, the selection committee will evaluate the project. Successful applications to the grant program will be notified along with further instructions.

    About E Money Network

    E Money Network is the regulated Modular RWA blockchain. It serves as an L1 blockchain designed for seamless interoperability between DeFi 2.0 and RWA tokenisation, effectively establishing a network that aims to bridge the liquidity divide between Web 2.0 and Web 3.0.

    For more information users can visit: X | LinkedIn | Blogs | Whitepaper

    For media queries, users can contact: [email protected]

     

    Contact

    Head of Marketing & Branding
    Shivangini Agarwal
    E Money Network
    [email protected]

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    Coastal Community Bank Appoints President of CCBX Division

    2024-10-03T15:05:27Z

    EVERETT, Wash., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB) (the “Company”), and its subsidiary, Coastal Community Bank (the “Bank”), announced that its role of President of the Bank is to be bifurcated to accommodate the Bank’s growth and plans for the future. The Bank announced the appointment of Brian Hamilton as President of CCBX, the FinTech and banking-as-a-service division of the Bank. Mr. Hamilton is a current member of the Company’s Board of Directors. In connection with the reorganization of the role of the President, the Bank also announced that Curt Queyrouze, the President of the Company and the Bank, will serve as President of the community bank division and will be responsible for leading the community bank and corporate credit.

    “As Coastal focuses on growing CCBX, we continuously seek out individuals with the skillsets and experience that we believe will bolster our banking-as-a-service division and who complement the leadership team already in place,” said Eric Sprink, the Company’s Chief Executive Officer. “We were fortunate to add Brian to our Board of Directors earlier this year and since then, he has been an invaluable contributor to the Company and the Bank. Brian’s appointment to this new role will allow the Company to benefit more deeply from his background and extensive expertise in banking, lending, payments and digital products development,” Mr. Sprink added.

    “Outside of CCBX, Coastal has been a fixture of community banking in the Puget Sound region for decades. We are excited to be able to bring that local, customer-first, community banking perspective and experience to new customers by evolving the community banking division to incorporate additional digital access for customers,” said Mr. Sprink. “Curt’s leadership, experience, and foresight have been key to Coastal’s success since he was appointed as President, and we are excited for him to build Coastal’s community bank division.”

    Mr. Hamilton is a seasoned financial technology executive and business leader, with more than 25 years of experience in banking, lending, payments and digital product development. Mr. Hamilton has held senior leadership roles at Capital One, serving as President of their Merchant Services division, Wells Fargo and Verifone, in addition to founding and operating multiple companies in the fintech space. Most recently Mr. Hamilton was co-founder and CEO of ONE (One Finance Inc.), which was acquired by a Walmart led joint venture in 2022. Prior to co-founding ONE, he was the founder of Azlo, a digital bank for small businesses, and helped to build out the BBVA Open Platform for sponsor banking services.

    “I am thrilled to deepen my relationship with the Coastal team in my new role leading the CCBX business. I have been lucky enough to work with many in management and across the Company and the Bank since joining the Board of Directors. I am excited to be able to take the experiences I gained and serve the Company and the Bank both as a member of management and as a director,” said Mr. Hamilton.

    About Coastal Financial Corporation

    Coastal Financial Corporation (NASDAQ: CCB), is an Everett, Washington-based Bank holding company with Coastal Community Bank (the “Bank”) a full-service commercial bank, as its sole wholly-owned banking subsidiary. The Bank operates 14 branches in Snohomish, Island, and King Counties, online and through mobile banking. The Bank’s CCBX division provides banking as a service (“BaaS”) that allows our broker-dealer and digital financial service partners to offer their customers banking services. As of June 30, 2024, we had total assets of $3.96 billion, loans receivable of $3.3 billion, total deposits of $3.5 billion, and total shareholders’ equity of $316.7 million. To learn more about Coastal Community Bank visit www.coastalbank.com. Member FDIC.

    Forward Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Any or all of the forward-looking statements in this earnings release may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this earnings release should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risks and uncertainties discussed under “Risk Factors” in our Annual Report on Form 10-K for the most recent period filed and in any of our subsequent filings with the Securities and Exchange Commission.

    If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.

    Contact:
    Joel Edwards
    Chief Financial Officer
    425.357.3687
    [email protected]


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