Technology

First International Bank of Israel Reports Financial Results for the Third Quarter of 2024

Published

1 year ago

November 25, 2024

Reflects continued growth and high profitability while maintaining financial stability

TEL AVIV, Israel, Nov. 25, 2024 /PRNewswire/ — First International Bank of Israel (TASE: FIBI) one of Israel’s major banking groups, today announced its results for the third quarter and nine-month period ended September 30, 2024.

Financial Highlights

Financial Highlights for the Third Quarter of 2024

Net income of NIS 620 million and a return on equity of 19.4% in the third quarter of 2024;Net income of NIS 1,798 million and a return on equity of 19.4% for the first nine months of the year;Credit to the public grew by 6% compared to the end of 2023 and by 3.5% compared to the second quarter of the year;Deposits by the public grew by 11.4% compared to the end of 2023, and by 4.3% compared to the second quarter of the year;The portfolio of customers’ assets grew by 19% compared to the end of 2023, and reached NIS 800 billion;Equity attributed to the Bank’s shareholders was NIS 13 billion, an increase of 8.2% compared to the end of 2023;The tier 1 capital ratio was 11.41%;The Bank’s Board of Directors decided to distribute a dividend in the amount of NIS 248 million, representing 40% of the net income.

Financial Results of the Third Quarter 2024

Net profit for the First International Bank Group was NIS 620 million in the third quarter of 2024, an increase of 36.3 % compared to the comparative quarter in the previous year. Return on equity was 19.4%.

The net profit for the first nine months of the year was NIS 1,798 million, an increase of 7.5% compared to the comparative period in the previous year. The return on equity was 19.4%.

Expense for credit losses was NIS 22 million in the third quarter, amounting to 0.07% of the average balance of credit to the public. Income for credit losses amounted to NIS 51 million in the first nine months of the year, primarily from debt recovery. In the corresponding period of last year, expenses of NIS 336 million were recorded which was due to an increase in collective provisions because of concerns over macroeconomic impacts, amid uncertainty.

High-quality credit portfolio: the NPL (non-performing loan) ratio remained stable and reached 0.57% at the end of the third quarter. This reflects the quality of the credit portfolio, (the balance of debts not accruing or overdue by 90 days or more out of the total credit to the public). The total coverage ratio (the ratio of the total credit loss provisions to the total credit to the public) stood at 1.41%, compared to 1.37% in the comparative period last year.

The operating and other expenses were NIS 2,240 million in the first nine months of the year, an increase of 2% compared to the comparative period in the previous year, mainly due to an increase in other expenses: IT-related, donations, telecommunications and advertising. The efficiency ratio stood at 44.5%.

Credit to the public amounted to NIS 126.4 billion, an increase of 6% compared to the end of 2023. There was an increase in the credit of 3.5% in the third quarter, compared to the second quarter of the year.

Deposits by the public amounted to NIS 213 billion, an increase of 11.4% compared to the end of 2023, and 4.3% compared to the second quarter.

The total customers’ assets portfolio increased by 26% year-over-year and by 19% compared to the end of 2023, to approximately 800 billion.

Equity attributed to shareholders in the Bank increased to NIS 13 billion, an increase of 8.2% compared to the end of 2023. The tier 1 capital ratio reached 11.41%, approximately -2.2% above the regulatory requirement, reflecting the highest capital surplus in the Israeli banking system. The liquidity coverage ratio is high and stands at 171%.

Considering the requests of the Banking Supervisor regarding capital planning and profits distribution policies, the Bank’s Board of Directors decided to approve the distribution of a cash dividend to the shareholders for NIS 248 million representing 40% of the net income. The Bank’s Board of Directors will continue to review the implementation of the Bank’s dividend distribution policy in light of ongoing developments and their impact on the Israeli economy and on the Bank.

Management Comment

Eli Cohen, CEO of First International Bank, commented: ,”The Bank’s reports reflect a growth trend both on the passive side, including deposits and securities of the public, which reached a record NIS 800 billion, and also on the active side, with a considerable increase in the credit portfolio, which has been achieved while maintaining the quality of the underwriting and portfolio diversification.

“Amid economic uncertainty and the ongoing multi-front war in Israel, the First International Bank maintained high capital and liquidity cushions, ensuring resilience and our ability to continue supporting our customers. The Bank is continuing to provide benefits and relief measures for customers to help them navigate the current challenging period.

“I am proud to say that the First International Bank’s customers are the most satisfied among bank customers in Israel, reporting high satisfaction with the Bank, the professionalism of its services and their willingness to recommend the bank to their friends. This is evidenced via customer surveys, including the recent Marketest survey. This reflects the high quality service and competitiveness of the First International Bank, as well as the professionalism and the dedication of our Group’s employees, all of whom have contributed to the achievement.

“We recently announced a number of management changes at the Bank: Vered Golan was appointed to the position of Head of the Corporate Division, Dr. Moriah Hoftman-Doron was appointed to the position of Chief Legal Counsel, and Liora Shechter was appointed CEO of Mataf. I wish considerable success to the new members of our management team.”

CONDENSED PRINCIPAL FINANCIAL INFORMATION AND PRINCIPAL EXECUTION INDICES

Principal financial ratios

For the nine months
ended September 30,

For the year ended
December 31,

2024

2023

in %

Principal execution indices

Return on equity attributed to shareholders of the Bank(1)

19.4

20.5

19.7

Return on average assets(1)

1.05

1.10

1.06

Ratio of equity capital tier 1

11.41

10.84

11.35

Leverage ratio

5.17

5.30

5.26

Liquidity coverage ratio

171

142

156

Net stable funding ratio

142

138

146

Ratio of total income to average assets(1)

2.9

3.3

3.2

Ratio of interest income, net to average assets (1)

2.1

2.5

2.4

Ratio of fees to average assets (1)

0.7

Efficiency ratio

44.5

43.6

43.5

Credit quality indices

Ratio of provision for credit losses to credit to the public

1.29

1.25

1.36

Ratio of total provision for credit losses (2) to credit to the public

1.41

1.37

1.50

Ratio of non-accruing debts or in arrears of 90 days or more to credit to the public

0.57

0.49

0.60

Ratio of provision for credit losses to total non-accruing credit to the public

230.5

263.8

234.5

Ratio of net write-offs to average total credit to the public (1)

(0.06)

–

0.03

Ratio of expenses (income) for credit losses to average total credit to the public (1)

(0.06)

0.38

0.42

Principal data from the statement of income

For the nine months
ended September 30,

2024

2023

NIS million

Net profit attributed to shareholders of the Bank

1,798

1,673

Interest Income, net

3,601

3,820

Expenses (income) from credit losses

(51)

336

Total non-Interest income

1,436

1,216

Of which: Fees

1,123

1,131

Total operating and other expenses

2,240

2,197

Of which: Salaries and related expenses

1,302

1,353

Primary net profit per share of NIS 0.05 par value (NIS)

17.92

16.67

Principal data from the balance sheet

30.9.24

30.9.23

31.12.23

NIS million

Total assets

242,512

210,673

221,593

of which: Cash and deposits with banks

81,440

61,659

68,866

Securities

28,860

22,043

26,985

Credit to the public, net

124,749

118,577

117,622

Total liabilities

228,823

198,542

208,947

of which: Deposits from the public

212,907

181,274

191,125

Deposits from banks

2,631

3,824

4,314

Bonds and subordinated capital notes

4,474

4,751

4,767

Capital attributed to the shareholders of the Bank

13,066

11,583

12,071

Additional data

30.9.24

30.9.23

31.12.23

Share price (0.01 NIS)

15,410

16,360

14,990

Dividend per share (0.01 NIS)

739

706

795

(1) Annualized.

(2) Including provision in respect of off-balance sheet credit instruments.

CONSOLIDATED STATEMENT OF INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

(unaudited)

(audited)

Interest Income

2,955

2,590

8,410

7,289

9,850

Interest Expenses

1,690

1,363

4,809

3,469

4,884

Interest Income, net

1,265

1,227

3,601

3,820

4,966

Expenses (income) from credit losses

165

(51)

336

502

Net Interest Income after expenses from credit losses

1,243

1,062

3,652

3,484

4,464

Non- Interest Income

Non-Interest Financing income

153

(1)

300

142

Fees

396

375

1,123

1,131

1,502

Other income

–

Total non- Interest income

552

374

1,436

1,216

1,652

Operating and other expenses

Salaries and related expenses

430

438

1,302

1,353

1,746

Maintenance and depreciation of premises and equipment

264

256

341

Amortizations and impairment of intangible assets

122

Other expenses

220

175

575

497

668

Total operating and other expenses

777

733

2,240

2,197

2,877

Profit before taxes

1,018

703

2,848

2,503

3,239

Provision for taxes on profit

390

247

1,033

869

1,090

Profit after taxes

628

456

1,815

1,634

2,149

The bank’s share in profit of equity-basis investee, after taxes

105

113

Net profit:

Before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Attributed to shareholders of the Bank

620

455

1,798

1,673

2,172

NIS

Primary profit per share attributed to the shareholders of the Bank

Net profit per share of NIS 0.05 par value

6.18

4.53

17.92

16.67

21.65

STATEMENT OF COMPREHENSIVE INCOME

(NIS million)

For the three months
ended September 30

For the nine months
ended September 30

For the year Ended
December 31

2024

2023

2024

2023

(unaudited)

(audited)

Net profit before attribution to non‑controlling interests

650

477

1,877

1,739

2,262

Net profit attributed to non‑controlling interests

(30)

(22)

(79)

(66)

(90)

Net profit attributed to the shareholders of the Bank

620

455

1,798

1,673

2,172

Other comprehensive income (loss) before taxes:

Adjustments of available for sale bonds to fair value, net

129

(115)

213

Adjustments of liabilities in respect of employee benefits(1)

(2)

Other comprehensive income (loss) before taxes

127

(105)

115

238

Related tax effect

(49)

(29)

(40)

(81)

Other comprehensive income (loss) before attribution to non‑controlling interests, after taxes

(64)

157

Less other comprehensive income (loss) attributed to non‑controlling interests

(2)

Other comprehensive income (loss) attributed to the shareholders of the Bank, after taxes

(62)

148

Comprehensive income before attribution to non‑controlling interests

728

534

1,813

1,814

2,419

Comprehensive income attributed to non‑controlling interests

(33)

(23)

(77)

(72)

(99)

Comprehensive income attributed to the shareholders of the Bank

695

511

1,736

1,742

2,320

(1) Mostly reflects adjustments in respect of actuarial assessments as of the end of the period regarding defined benefits pension plans and deduction of amounts recorded in the past in other comprehensive income.

CONSOLIDATED BALANCE SHEET

(NIS million)

September 30,

December 31,

2024

2023

(unaudited)

(audited)

Assets

Cash and deposits with banks

81,440

61,659

68,866

Securities

28,860

22,043

26,985

Securities borrowed

147

155

Credit to the public

126,374

120,073

119,240

Provision for Credit losses

(1,625)

(1,496)

(1,618)

Credit to the public, net

124,749

118,577

117,622

Credit to the government

1,611

1,015

1,055

Investment in investee company

854

776

786

Buildings and equipment

852

871

877

Intangible assets

350

305

328

Assets in respect of derivative instruments

2,308

3,940

3,651

Other assets(2)

1,341

1,332

1,366

Total assets

242,512

210,673

221,593

Liabilities and Capital

Deposits from the public

212,907

181,274

191,125

Deposits from banks

2,631

3,824

4,314

Deposits from the Government

689

665

750

Securities lent or sold under agreements to repurchase

1,542

–

Bonds and subordinated capital notes

4,474

4,751

4,767

Liabilities in respect of derivative instruments

2,086

3,496

3,784

Other liabilities(1)(3)

4,494

4,532

4,207

Total liabilities

228,823

198,542

208,947

Shareholders’ equity

13,066

11,583

12,071

Non-controlling interests

623

548

575

Total capital

13,689

12,131

12,646

Total liabilities and capital

242,512

210,673

221,593

(1) Of which: provision for credit losses in respect of off-balance sheet credit instruments in the amount of NIS 160 million and NIS 150 million and NIS 165 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(2) Of which: other assets measured at fair value in the amount of NIS 16 million and NIS 13 million and NIS 10 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

(3) Of which: other liabilities measured at fair value in the amount of NIS 48 million and NIS 26 million and NIS 11 million at 30.9.24, 30.9.23 and 31.12.23, respectively.

STATEMENT OF CHANGES IN EQUITY

(NIS million)

For the three months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2024

927

(292)

11,980

12,615

590

13,205

Net profit for the period

–

620

650

Dividend

–

(244)

–

(244)

Other comprehensive income, after tax effect

–

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the three months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as of June 30, 2023

927

(290)

10,655

11,292

525

11,817

Net profit for the period

–

455

477

Dividend

–

(220)

–

(220)

Other comprehensive income, after tax effect

–

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

For the nine months ended September 30, 2024 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
loss

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2023 (audited)

927

(155)

11,299

12,071

575

12,646

Net profit for the period

–

1,798

1,877

Dividend

–

(741)

(29)

(770)

Other comprehensive loss, after tax effect

–

(62)

–

(62)

(2)

(64)

Balance as at September 30, 2024

927

(217)

12,356

13,066

623

13,689

For the nine months ended September 30, 2023 (unaudited)

Share
capital and
premium (1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings (2)

Total
share-holders’
equity

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022 (audited)

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company*

–

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the period

–

1,673

1,739

Dividend

–

(708)

–

(708)

Other comprehensive income, after tax effect

–

Balance as at September 30, 2023

927

(234)

10,890

11,583

548

12,131

STATEMENT OF CHANGES IN EQUITY (CONT’D)

(NIS million)

For the year ended December 31, 2023 (audited)

Share
capital and
premium(1)

Accumulated
other
comprehensive
income (loss)

Retained
earnings(2)

Total

Non-
controlling
interests

Total
capital

Balance as at December 31, 2022

927

(303)

9,935

10,559

476

11,035

Adjustment of the opening balance, net of tax, due to the effect of initial implementation in investee company *

–

(10)

–

(10)

Adjusted balance at January 1, 2023, following initial implementation

927

(303)

9,925

10,549

476

11,025

Net profit for the year

–

2,172

2,262

Dividend

–

(798)

–

(798)

Other comprehensive income, after tax effect

–

148

–

148

157

Balance as at December 31, 2023

927

(155)

11,299

12,071

575

12,646

* Cumulative effect of the initial implementation of US accounting principles in the matter of financial instruments – credit losses (ASC-326).

(1) Including share premium of NIS 313 million (as from 1992 onwards).

(2) Including an amount of NIS 2,391 million which cannot be distributed as dividend.

Contact:
Dafna Zucker
First International Bank of Israel
Zucker.d@fibi.co.il
+972-3-519-6224

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SOURCE First International Bank of Israel

Technology

AdaKami Contributes to National Dialogue on Strengthening Fraud Risk Management

Published

60 minutes ago

April 24, 2026

JAKARTA, Indonesia, April 24, 2026 /PRNewswire/ — The continued rise in digital fraud highlights increasing risks to consumer protection and the sustainability of Indonesia’s digital financial ecosystem. Data from Indonesia Anti-Scam Centre (IASC) under the Financial Services Authority of Indonesia (OJK) recorded over 432,000 digital fraud reports between November 2024 and January 2026, with total losses reaching approximately IDR 9.1 trillion.

In response, AdaKami, a licensed fintech lending platform by OJK, continues to strengthen its fraud risk management framework through enhanced technology capabilities, ongoing user education, and collaborations with stakeholders.

This was reflected at the Executive Policy Collaborative Forum on Handling Digital Fraud and Scams, organized by The Indonesian Digitalization and Cybersecurity Association (ADIGSI) which brought together regulators, cybersecurity authorities, and industry associations including IASC OJK, the National Cyber and Crypto Agency (BSSN), the Indonesia Fintech Lending Association (AFPI), and the Indonesia Fintech Association (AFTECH). The forum underscored the importance of coordinated efforts to strengthen fraud prevention and reinforce the anti-scam governance ecosystem.

Alongside industry and regulatory stakeholders, AdaKami reiterated its commitment and efforts to strengthen fraud prevention, by integrating technology, education, and collaboration as core pillars of consumer protection.

“Fraud and digital scams have evolved into a systemic challenge that requires coordinated action across regulators, industry, and stakeholders,” said Hudiyanto, Head of Secretariat of IASC OJK.

Karissa Sjawaldy, Chief of Public Affairs AdaKami, added: “AdaKami remains committed to strengthening consumer protection by enhancing technology-driven security systems, reinforcing user education, and maintaining close collaboration with regulators and industry partners.”

AdaKami continues to strengthen its security infrastructure through technology advancement, including AI, machine learning, and big data, to protect users on the platform and mitigate cyber threats. Concurrently, AdaKami recognizes the importance of user awareness in reducing fraud risks. Through ongoing educational initiatives such as the #SelaluWaspada campaign, AdaKami educates users to stay vigilant against evolving fraud schemes, including safeguarding personal information, recognizing common fraud tactics, and engaging only through official verified channels.

AdaKami remains focused on strengthening risk management, enhancing consumer trust, and supporting a more resilient digital financial ecosystem in Indonesia.

***

About AdaKami

Established in 2018, AdaKami is a licensed fintech lending platform in Indonesia, operated by PT Pembiayaan Digital Indonesia and supervised by OJK. AdaKami provides accessible financing through technology-driven, fast, and reliable services, bridging the gap between traditional financial institutions and underserved communities. More information: www.adakami.id

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SOURCE AdaKami

Technology

RWA.LTD Announces Comprehensive Consumer Goods Token Ecosystem Layout at Hong Kong Web3 Festival, Leading the Launch of the Consumer RWA Alliance

Published

2 hours ago

April 24, 2026

HONG KONG, April 24, 2026 /PRNewswire/ — During the Hong Kong Web3 Festival, RWA.LTD, the world’s first platform dedicated to consumer goods RWA (Real World Assets), officially announced the completion of its comprehensive consumer goods token ecosystem layout. At the event, the platform spearheaded the unveiling of the “Consumer RWA Alliance”. Positioned as the “Asian Consumer Goods Asset Trading Center,” RWA.LTD aims to enhance consumption efficiency through AI, reconstruct value distribution via Web3, and connect cross-city and cross-country consumer networks through tokens to accelerate the arrival of the “Smarter Consumer” era.

RWA.LTD stated that consumer goods RWA is not a single product, but a set of new infrastructure developed around consumption scenarios, the circulation of consumer rights, and brand interaction. Since CEO Fu, Rao Tony first proposed the concept of “Consumer Goods RWA” in late 2024, the team simultaneously prepared the RWA.LTD platform and completed Beta testing in September 2025. Following several months of iteration, the platform completed a comprehensive upgrade in mid-March 2026, marking RWA.LTD’s formal transition from the proof-of-concept stage to the ecological development stage.

RWA.LTD Ecosystem

In this public announcement, RWA.LTD systematically disclosed its four major ecological sectors for the first time. First, RWA.LTD | Mall (Winpoint Mall) was officially launched during the Hong Kong Web3 Festival, providing consumers with diverse brand rights driven by RWA Coin; current offerings include the CDAA (Chartered Digital Asset Analyst) Course, Matrix E-commerce Services, and more. Second, RWA.LTD | Exchange was fully launched in mid-March 2026 as a primary issuance and secondary trading market for consumer goods tokens, with plans to list 100 types of consumer goods tokens within the year to provide bidirectional exposure for brands and users. Third, RWA.LTD | Fund plans to collaborate with established VC funds to focus on brand token ecosystem construction and explore new paths for the synergistic development of consumer brands and on-chain capital. Fourth, RWA.LTD | Bot (rwaclaw.ai, rwabot.ai) has completed domain layout and is currently under development; it will provide consumers with real-time AI price comparisons, intelligent recommendations, and automated ordering tools to enhance decision-making efficiency and consumer experience.

RWA.LTD believes that the traditional consumer market has long suffered from information asymmetry, price opacity, and inactive membership systems, while the combination of blockchain and AI provides a new consumption model. By standardizing, digitizing, and placing consumer rights on-chain, consumers are no longer just end-buyers but can become active participants in the consumption network; brands are no longer limited to one-time interactions with consumers but can build stable, sustainable consumer relationships through on-chain tools.

Consumer RWA Alliance

At the Hong Kong Web3 Festival, the Consumer RWA Alliance, spearheaded by RWA.LTD, was inaugurated. The alliance aims to unite consumer brands, channel platforms, technology service providers, ecological partners, and cross-regional resource providers to jointly promote the co-construction of standards, ecological synergy, and scenario implementation for consumer goods RWA. The alliance members attending the unveiling ceremony included Dr. and Professor Lawrence Yu, Founder and Chairman of the Asia Pacific Economic Leaders’ Confederation; Dr. Wang Ping, President of the RWA Ecological International Federation and Chairman of the Asia Pacific M&A Fund; Dou Jun, Secretary General of the Hong Kong RWA Global Industry Alliance and Executive Secretary General of the Blockchain Professional Committee of the China Communications Industry Association (CCIA); Dr. Yu Jianing, Principal of Uweb Business School (Hong Kong) and Rotating Chairman of the Academic Committee of the Hong Kong Certified Digital Asset Analysts Association (HKCDAA); Dr. Jingle, Founder of Hong Kong Meta Strategy; Dr. Qiu Yueying, CEO of Winchain Technology; Tongjian Sun, CEO of INOVAI TECH K.K.; and Wen Hua, Director of the Australia & New Zealand Center of the Hong Kong RWA Global Industry Alliance, with RWA.LTD CEO Fu, Rao Tony serving as the Chairman. The establishment of the alliance marks an important step for consumer RWA moving from platform exploration to industry collaboration, signifying that the RWA narrative is extending from the relatively singular field of financial assets to the consumer industry which is more closely related to real life.

Industry insiders pointed out that the establishment of the Consumer RWA Alliance holds industry significance beyond platform business. On one hand, it helps break the market’s inherent impression of RWA as being “over-financialized” and encourages the outside world to re-recognize the application value of RWA as digital infrastructure in real consumption scenarios. On the other hand, it provides a new organizational framework for the Asian consumer market, making cross-regional brand cooperation, mutual recognition of consumer rights, and on-chain circulation mechanisms more operational. RWA.LTD stated that it hopes to promote the formation of a more diverse, open, and sustainable RWA world through the alliance mechanism, making RWA not just a synonym for asset securitization, but also a key driver for consumer innovation and industrial upgrading.

Regarding compliance issues of market concern, RWA.LTD provided a brief explanation in this announcement. Consumer goods tokens do not fall within the definition of “virtual assets” under Section 53ZRA of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO), as they are neither payment tokens nor governance tokens. Even if there is overlap in certain characteristics, the relevant tokens can ultimately be defined as “Limited Purpose Digital Tokens” under Section 53ZR of the AMLO, which are explicitly excluded from the scope of “virtual asset” in the AMLO. Based on this, RWA.LTD does not fall within the regulatory scope of the Virtual Asset Trading Platform (VATP) licensing regime. Meanwhile, the U.S. SEC’s previous No-Action Letter to the Fuse project, along with the definition of “Digital Tools” in the regulatory interpretation published on March 17, 2026, further supports the stance that consumer goods tokens are non-securities, non-commodities, and are not regulated under the virtual asset framework. RWA.LTD emphasized that the company consistently adheres to advancing product design and business development within a compliance framework and will continue to monitor regulatory dynamics in different jurisdictions.

The RWA.LTD team possesses a rich international background and overseas market experience, having long followed the development trends of the Web3 and RWA markets in Europe and the United States. The team observed early on that the Asian RWA market has long been concentrated on financial narratives with relatively monotonous scenarios, and platforms that truly integrate deeply with mass consumption and high-frequency lifestyle scenarios remain scarce. Consequently, the team began preparing the consumer goods RWA platform as early as 2024, hoping to take the lead in completing infrastructure, model verification, and resource integration before an industry consensus was formed.

RWA.LTD CEO Fu, Rao Tony pointed out that consumer goods RWA is currently one of the directions most likely to land and scale quickly. Compared to financial RWA, consumer goods RWA has a stronger efficient foundation in terms of compliance structure, user understanding, scenario adaptation, and promotion paths. Its core value lies in using blockchain technology to release liquidity that the consumer industry has long lacked, allowing consumer rights—which were originally fragmented, dormant, non-tradable, or difficult to circulate across regions—to achieve more efficient allocation and redistribution. Through this mechanism, the relationship between brands, platforms, and consumers will be redefined.

Fu, Rao Tony further stated that as the digitalization of the Asian consumer market continues to improve, the combination of consumer RWA and the real consumer industry is expected to release trillion-dollar economic potential in the future. For Hong Kong, this is not just an emerging Web3 track, but could become an important hub connecting international consumer networks with digital asset innovation. Hong Kong possesses unique advantages as an international financial center, an international trade center, and a highland for institutional innovation. If it can take the lead in forming scale synergy in the field of consumer RWA, it has the opportunity to occupy a leading position in the global wave of consumer asset digitalization.

In the future, RWA.LTD will continue to advance its layout around consumer goods RWA infrastructure construction, ecological cooperation expansion, alliance network improvement, and AI consumer tool research and development, exploring new on-chain paradigms for the consumer industry with more brands, institutions, and partners. As the Mall, Exchange, Fund, and Bot sectors gradually mature, RWA.LTD hopes to drive consumer RWA from concept to large-scale application, providing a more efficient, intelligent, and participatory new value network for the Asian and global consumer markets.

About RWA.LTD

RWA.LTD is positioned as the Asian consumer goods asset trading center, committed to enhancing consumption efficiency with AI, reconstructing consumer value distribution with Web3, and establishing cross-city and cross-country consumer alliance networks via tokens. The company focuses on the consumer goods RWA track, continuously promoting the digitalization of consumer rights, the circulation of consumer assets, and the synergy of the consumer ecosystem to explore the future consumption model of “Smarter Consumer”.

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SOURCE RWA.LTD

Technology

Fox ESS Ranks No. 1 Globally in Residential Energy Storage

Published

3 hours ago

April 24, 2026

WENZHOU, China, April 23, 2026 /CNW/ — Fox ESS, a global leader in renewable energy solutions, has been ranked No. 1 among residential energy storage providers worldwide for 2025, based on MWh shipments in S&P Global Energy’s Residential Energy Storage Market Tracker.

The report also places Fox ESS at No. 1 in Germany and the UK, highlighting the company’s momentum in key markets and expanding distribution footprint.

Compared with 2024, Fox ESS’s global market share rose 50% in 2025, reinforcing its position in a rapidly growing residential storage sector. The company has continued to scale internationally, with global headcount doubling from the end of 2024. As of April 2026, Fox ESS employs more than 5,000 people worldwide, and has added local support through new offices, including in Sydney, Australia.

“We’re thrilled for this remarkable achievement. It reflects our commitment to innovation and product quality, and to making clean, reliable energy practical for households around the world,” said Michael Zhu, CEO of Fox ESS. “We will continue pushing the boundaries to deliver solutions that help homes and businesses move toward energy independence.”

Notably, Fox ESS has launched the Champion’s Choice campaign globally, combining the endorsement of sports champions with recognition from prestigious organizations. With the first stop in Australia, the company signed Ian Thorpe, a five-time Olympic champion last December. The campaign underscores Fox ESS’s ambition to deliver better value for customers and partners.

Fox ESS is committed to building long-term trust with customers and partners. The company delivers reliable, high-quality energy storage systems engineered for consistent performance, supported by rigorous quality-control processes designed to help ensure every product meets the highest standards.

Fox ESS develops solutions that serve both installers and end users. With ongoing investment in R&D, the company stays ahead of evolving market needs, helping installers work more efficiently while enabling homeowners to move toward energy transition and reduce electricity costs.

With a team of more than 400 experts in R&D, Fox ESS continues to refine its product design for easier transportation, installation, and everyday use. The AI-powered FoxCloud app also makes energy management more intuitive, enabling users to monitor and control home energy consumption, manage smart devices, and track detailed generation and usage data in a single streamlined platform, delivering greater peace of mind.

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SOURCE Fox ESS