‘Sports D3’ (D-Cubed Ventures OU) Digital Assets Exchange Secures Operating License in the EU

‘Sports D3’ (D-Cubed Ventures OU)

'Sports D3' (D-Cubed Ventures OU)
‘Sports D3’ (D-Cubed Ventures OU)
‘Sports D3’ (D-Cubed Ventures OU)

TALLINN, Estonia, Oct. 08, 2020 (GLOBE NEWSWIRE) — ‘Sports D³’ (D-Cubed Ventures OU), a tokenization platform and digital assets exchange for the global sports industry, is pleased to announce that it has been granted an operating crypto-license by the Financial Intelligence Unit (FIU) of Estonia.

‘Sports D³’ provides professional sports teams with an innovative alternative to raising funds by facilitating crowd-formation of capital on its DLT-powered platform, where clubs are able to digitize, securitize and sell their assets to fan-investors in the form of Security Token Offerings (STO).

With the approval of a Virtual Currency Exchange and a Virtual Currency Wallet License, ‘Sports D³’ is now a fully regulated digital assets exchange, with the capability to deliver its solutions to sports clubs and their fans in 27 European jurisdictions. This milestone marks the next step in ‘Sports D³’ development and paves the way for securing the financial intermediary status and expanding into other continents.

Gene Swinton, Founder & CEO of ‘Sports D³’ said: “There are over 400 million football fans in Europe, who are not only among the most devoted fans in the world but who also happen to score higher in their ability to invest. We are delighted to be granted this license, as it will provide fan-investors with a simple, low-cost, fiat-to-crypto ON-ramp and enable their investment activities on the SD³ platform”.

“We will continue on our mission to democratize finances in the global sports industry, starting with the European football space. By providing professional football clubs in Europe with access to capital crowd-sourced from millions of fan-investors, SD³ heralds a new era for crowd-capital and its prominent role in the development of football,” concluded Mr. Swinton.

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Micron yet to regain license to sell to Huawei, pressuring sales

(Reuters) – Micron Technology Inc has not yet obtained new licenses needed to sell its memory chips to China’s Huawei Technologies Co Ltd, which will cut its sales over the next two quarters, company executives said on Tuesday.

FILE PHOTO: Micron Technology’s solid-state drive for data center customers is presented at a product launch event in San Francisco, U.S., October 24, 2019. REUTERS/Stephen Nellis/File photo

Boise, Idaho-based Micron, one of the world’s biggest makers of DRAM chips, said it had previously obtained licenses from the U.S. government to sell chips for mobile phones and servers from its factories outside the United States to Huawei, which has been the target of U.S. restrictions on chip sales since last year.

Huawei accounted for about $600 million of Micron’s $6.06 billion in sales for the fiscal fourth quarter ended Sept. 3, or just under 10%.

But a new round of restrictions that took effect in September barred sales of any chip made using U.S. tools or software, which rendered Micron’s earlier licenses invalid and halted sales on Sept. 14.

“The manufacturing equipment in those fabs are obviously from U.S.-based companies,” Micron’s chief business officer, Sumit Sadana, told Reuters in an interview. These included Applied Materials Inc and Lam Research Corp.

Sadana said Micron has applied to the U.S. government for new licenses to sell to Huawei but does not yet have them and does not know if or when they will be approved. The company is shifting to selling to other smart phone customers but the shift will take until Micron’s fiscal second quarter to complete.

“As soon as we get the license, we would work with Huawei to determine how we can resurrect the business,” Sadana said.

Micron shares, which were volatile in extended trading, were down