{"id":60070,"date":"2023-11-27T16:34:42","date_gmt":"2023-11-27T08:34:42","guid":{"rendered":"http:\/\/www.upgrademag.com\/web\/?p=60070"},"modified":"2023-11-27T16:34:44","modified_gmt":"2023-11-27T08:34:44","slug":"kelly-uniondigital-venture-brings-financial-events-trading-to-ph","status":"publish","type":"post","link":"http:\/\/www.upgrademag.com\/web\/2023\/11\/27\/kelly-uniondigital-venture-brings-financial-events-trading-to-ph\/","title":{"rendered":"Kelly, UnionDigital venture brings financial events trading to PH"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Financial events contract trading platform, Kelly Technology Pte. Ltd., and Union Bank\u2019s digital banking arm, UnionDigital Bank, announced a strategic partnership to launch a new trading platform to the Philippine financial market.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Co-founded by Abhishek Singh, Sparsh Mehta, and Saurabh Chandolia, and modeled after the success of New York-based Kalshi, Kelly\u2019s platform allows trading on the outcome of various events between individuals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A member of the Aboitiz Group, UnionDigital is only one of six banks given approval by the Bangko Sentral ng Pilipinas (BSP) in 2021 to operate in digital banking, a new and formal category of banks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Events contract trading has gained popularity in recent years and is now regarded as an innovative asset class.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its introduction in the country can have seismic potential in the local financial landscape, as it simplifies an investment process and makes a new asset class more accessible to the general public.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe&#8217;re not just offering a new way to trade, we&#8217;re introducing a whole new approach to financial engagement and empowerment,&#8221; Chandolia said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Our vision is to break down the barriers to financial markets, making them a place for everyone,&#8221; Mehta added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For its part, UnionDigital will serve as custodian and settlement fiduciary for Kelly users, ensuring a secure and seamless trading experience for events contract traders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;UnionDigital Bank is a key component in our journey to revolutionize the financial sector,&#8221; said Singh, speaking on the collaboration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis partnership is not just a transaction, it\u2019s a commitment to financial inclusivity,\u201d said Henry Aguda, President &amp; CEO, UnionDigital Bank. \u201cBy combining our digital banking expertise with Kelly\u2019s platform for investment opportunities, we can revolutionize industry standards in the financial services sector and democratize financial opportunities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Events contract trading represents a significant leap forward in financial markets, and the partnership between Kelly and UnionDigital brings accessibility and transparency to this new financial instrument.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Where much of the financial market\u2019s inner workings remain complex and labyrinthine, a transformation is now happening that makes investing more intuitive, inclusive, and user-friendly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Co-founded by Abhishek Singh, Sparsh Mehta, and Saurabh Chandolia, and modeled after the success of New York-based Kalshi, Kelly\u2019s platform allows trading on the outcome of various events between individuals.<\/p>\n","protected":false},"author":6,"featured_media":60075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[96,2727,1656,7498],"class_list":["post-60070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","tag-technology","tag-technology-adaption","tag-technology-investment","tag-uniondigital-bank"],"_links":{"self":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/60070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/comments?post=60070"}],"version-history":[{"count":0,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/posts\/60070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media\/60075"}],"wp:attachment":[{"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/media?parent=60070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/categories?post=60070"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.upgrademag.com\/web\/wp-json\/wp\/v2\/tags?post=60070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}