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Orca and Loopscale Merge to Build Capital Markets for AI and the Frontier Economy

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Operating as Formation, the combined team brings together two leading crypto platforms spanning trading, credit and vault infrastructure to expand access to capital across AI, robotics and other frontier industries.

NEW YORK, Oct. 7, 2026 /PRNewswire/ — Orca and Loopscale today announced their merger, bringing together Orca’s trading and liquidity infrastructure with Loopscale’s credit and vault infrastructure. The combined team will operate as Formation, led by Loopscale co-founder Luke Truitt as CEO. Formation aims to give emerging assets a path from issuance to financing and liquidity, while expanding the range of assets and strategies available to capital allocators. Both the Orca and Loopscale protocols will remain the foundation of the ORCA and xORCA token network. Formation will build new, unified capabilities across origination, vault strategies, and distribution, building on the existing protocols.

Closing the gap between capital and innovation

AI, energy, robotics and defense companies are driving a new wave of capital demand. Apollo estimates that nearly $3 trillion will be needed for AI infrastructure alone through 2028.

Many of the companies behind that demand do not fit neatly into traditional capital market boxes, where fixed underwriting, legal, servicing and distribution costs favor larger, standardized deals.

Formation broadens access to capital by reducing the cost and complexity of structuring, distributing and financing assets.

“The frontier economy is creating new business models and financing needs more rapidly than traditional market infrastructure is evolving to serve them,” said Luke Truitt, CEO of Formation. “Every major technological revolution has been paired with a financial one. We’re at an inflection point that requires capital markets to keep pace with the industries reshaping the economy.”

Built on proven infrastructure

Orca has processed more than $550 billion in trading volume since 2021. Loopscale has more than $150 million in deposits and has facilitated more than $2 billion in loans. Together, they bring a battle-tested platform and decade of operating history across trading, credit and vault strategies.

“Orca has spent years building deep liquidity, and we’ve seen firsthand that liquidity alone isn’t enough to scale an asset,” said Christopher Montagano, Chief Strategy & Legal Officer of Orca. “The greater challenge is building the credit and distribution those assets need to grow, and Orca and Loopscale built complementary pieces of that infrastructure. Together, we can give issuers a complete path from launch to long-term market adoption.”

Powering the next capital formation cycle

Formation is building across origination, issuance, liquidity, credit and distribution, with a path into regulated U.S. capital markets. Over the next 12 months, the team plans to introduce new tools for issuers and capital allocation strategies alongside its existing trading, lending and vault offerings.

Formation is already working with Figure, Shinhan Asset Management, Superstate, R3 and Securitize to bring new assets to market and expand distribution.

“Having originated over $30 billion of credit onchain and scaled tokenized products to more than $650 million in DeFi, we know how much high-quality distribution partners matter for growth,” said Reid Simon, President of Digital Assets at Figure Technology Solutions, Inc. “We’ve worked closely with both the Orca and Loopscale teams over the past year, and are excited by what the unification of trading, credit and vault strategies will unlock for tokenized asset growth.”

Formation’s leadership includes Luke Truitt as Chief Executive Officer, Mary Gooneratne as Chief Operating Officer, and Christopher Montagano as Chief Strategy & Legal Officer.

About Orca

Orca is a decentralized exchange on Solana, providing trading infrastructure for digital assets. Since 2021, it has processed more than $500 billion in trading volume. Learn more at orca.so.

About Loopscale

Loopscale is a credit and vault infrastructure platform with more than $150 million in deposits and over $2 billion in loans facilitated across a broad range of markets. Learn more at loopscale.com.

About Formation

Formation is building capital markets for the frontier economy. Established through the merger of Orca and Loopscale, it brings together trading, credit and capital allocation infrastructure. Learn more at formation.so and join the conversation on X.

Forward-Looking Statements

This release contains forward-looking statements, including regarding planned products and the expected benefits of the merger. Actual results may differ materially. Planned products are subject to applicable legal and regulatory requirements and may not be available in all jurisdictions or to U.S. persons. Nothing in this release is an offer to sell or a solicitation of an offer to buy any security or other financial product, or investment, legal or tax advice.

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SOURCE Orca Management Company S.A.

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INFiLED Launches NX Series for Stage Productions

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SHENZHEN, China, Oct. 9, 2026 /PRNewswire/ — INFiLED, launched the NX Series in early October, a heavy-duty rental LED solution for stage productions. Developed for live events, touring productions, outdoor festivals and temporary indoor or outdoor installations, NX Series is designed for projects where LED systems must hold large structures, shift between stage forms and keep onsite work moving under tight schedules.

Recent INFiLED rental projects place the release in a real production context. Shenzhen Happy Valley‘s outdoor summer festival stage showed the scale of a layered five-screen rental layout, while UMK2026‘s live stage production reflected the precision required for large-format screens and overhead LED elements. Together, they point to stage environments where larger visual surfaces, dimensional design and tighter onsite schedules now converge.

NX is introduced for this kind of stage work, where creative direction and technical execution need to stay aligned from load-in to show time. The platform brings structural capacity, multi-form configuration, rental-ready protection, faster service and stable visual performance into the same system.

Larger Stages Ask More of the System

Large stage displays now do more than fill a background. They shape the scene, define depth and often become part of the performance architecture. Before content appears on screen, the LED structure has already passed through transport, lifting, alignment, rehearsal and operation.

NX is specified for stacking and hanging up to 20 m, with optional wind-resistant braces and locks for demanding sites. That capacity matters for large suspended or stacked LED structures, especially in outdoor environments where structural planning carries the whole production.

The cabinet design follows the same logic. A dual-layer magnesium cabinet keeps panels lighter in handling while retaining the rigidity needed for alignment, with cabinet weights of 6.8 kg and 10.9 kg across its two cabinet options. Top quick locks and bottom alignment pins support faster connection and more consistent geometry as the screen grows.

Creative Forms Need Repeatable Mechanics

Stage design rarely stays within a flat rectangle. Productions move between curves, staggered layers, stepped contours, wraparound corners and compact scenic structures. In rental work, those forms need to return accurately across different venues, crews and schedules.

NX supports flat displays, curved layouts, staggered and stepped surfaces, and heart-shaped creative forms. With NX Edge, the system forms 90° curved transitions for wraparound content. In selected configurations, NX also works with MC Series for right-angle and cube structures, and with Xmk3 Series for larger curved forms.

For precision curves, NX offers a –10° to +15° range in 2.5° steps. The degree-based adjustment gives designers room to shape the stage while giving technicians a clear mechanical reference during installation and repeat use.

Onsite Workflow Shapes the Final Image

A strong stage image depends on work the audience never sees. Load-in, locking, alignment, cabling, service and rehearsal all influence whether the screen stays on schedule and performs cleanly when the show begins.

NX addresses those pressure points through several rental-focused details:

Top quick locks and bottom alignment pins support faster assembly and consistent screen geometry.The unified integrated PDU centralizes power and signal distribution, reducing cabling complexity across the system.Optional clip-on masks for outdoor configurations reduce disassembly steps during onsite service.Outdoor versions feature full encapsulation and IP65-rated protection for exposed environments.

Visual performance remains part of the same production path. Outdoor stages need brightness that stays clear in stronger ambient light, so NX reaches up to 5,000 nits outdoors. A 7,680 Hz refresh rate supports smoother motion and camera capture, while 16-bit grayscale and a 10,000:1 contrast ratio preserve tonal control, depth and clarity for stage content.

NX Series expands INFiLED’s rental LED portfolio with a heavier-duty option for stage production applications where scale, form and timing carry equal weight. For INFiLED, whose work spans rental, fixed-installation and commercial display environments, the release adds another layer to its engineering focus – LED systems shaped around the conditions of real projects, not only around the appearance of the screen.

For stage teams, that focus matters most when the technology fades into the work. The structure holds, the workflow keeps moving and the image reaches the audience as intended.

Website: www.infiled.com
Contact: info@infiled.com

SOURCE INFiLED

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AIRA Factoring Surpasses THB 1 Billion in Digital Supply Chain Financing, Powered by NEC Thailand

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BANGKOK, Oct. 9, 2026 /PRNewswire/ — AIRA Factoring Public Company Limited has achieved a major digital transformation milestone, exceeding THB 1 Billion in cumulative lending transactions through its advanced digital supply chain financing platform in record time. Developed in collaboration with NEC Thailand and TASConnect.  

By digitizing working capital workflows, the platform provides businesses with rapid liquidity, enhanced cash flow visibility, and reduced operational friction. It empowers buyers, suppliers, and financial institutions to build resilient supply chains while integrating ESG metrics into sustainable financing frameworks. The platform facilitates transformation in supply chain financing through an agile, data-driven connected ecosystem.

“This THB 1 Billion milestone reflects the trust of our customers, suppliers, and strategic partners,” stated Mr. Akrawit Sooksai, Chief Executive Officer of AIRA Factoring Public Company Limited. “Digital supply chain financing has evolved from a technology initiative into a true business growth engine—enabling companies to strengthen liquidity and capture new market opportunities. As adoption accelerates, we anticipate continued expansion with approximately 7% growth.”

Co-Creating Social & Economic Value for Thailand

For decades, NEC Thailand has grown alongside Thai society as a trusted technology partner dedicated to solving complex business and societal challenges.

“At NEC, our commitment goes beyond technology deployment—we focus on co-creating lasting value for society,” said Mr. Hiroki Yoshifuji, President of NEC Corporation (Thailand) Ltd.”By delivering a highly secure, reliable digital supply chain finance platform, we are empowering local businesses and SMEs with timely access to capital. Strengthening financial liquidity across the supply chain builds a more resilient economic foundation for Thailand, driving sustainable growth for enterprises and society alike.”

This milestone achievement will be highlighted at Digital Converge 2026, demonstrating how the synergy among AIRA Factoring, NEC Thailand, and TASConnect is setting a new benchmark for digital supply chain maturity across the region.

Ultimately, the platform delivers measurable enterprise impact by accelerating capital flow for suppliers, enhancing end-to-end supply chain transparency, and embedding ESG principles into corporate financing. Built on NEC’s enterprise-grade, scalable architecture, the solution mitigates operational risk while providing a proven, future-ready foundation for continuous business growth and regional expansion.

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SOURCE NEC Thailand

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UOB Asset Management Highlights Opportunities Amid Shifting Global Policy Landscape

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SINGAPORE, Oct. 9, 2026 /PRNewswire/ — UOB Asset Management (UOBAM) has released its 4Q 2026 Quarterly Investment Strategy, highlighting how evolving monetary policy, resilient economic fundamentals and structural growth trends continue to create opportunities for investors despite an uncertain global backdrop.

As financial markets navigate a period of heightened policy uncertainty, the global economy has remained broadly resilient. Economic activity across major regions has continued to expand, corporate earnings have remained supportive, and investments in transformational technologies such as artificial intelligence (AI) continue to underpin long-term growth prospects.

While investors continue to contend with geopolitical developments, trade policy changes and questions surrounding the outlook for interest rates, UOBAM believes that market volatility should be viewed as an opportunity for disciplined investors to position for attractive long-term returns.

On interest rates, UOBAM does not expect an aggressive rate hiking cycle or bond yields to continue surging higher as many of the factors driving price pressures are showing signs of moderation.

Within equities, UOBAM remains positive, with a preference for the US and Asia. The US continues to offer a compelling combination of earnings growth, innovation and market depth. Asia, meanwhile, offers attractive long-term fundamentals, supported by stronger economic growth, compelling valuations and leadership positions in industries such as semiconductors, memory, alternative energy and electric vehicles.

Anthony Raza, Head of UOBAM Multi-Asset Strategy, said, “The key story for investors is that the global economy has stayed strong despite a constant stream of headwinds. It is hard to find a period in history when global corporate earnings growth has been as strong as it is today, especially this far into an economic expansion. However, the economic cycle is showing classic late-cycle signs. Ultimately, while today’s late-cycle signals warrant monitoring, we believe it remains too early to step away from a growth-oriented investment strategy.”

In its asset allocation strategy, UOBAM remains overweight equities and underweight fixed income. The firm continues to retain a positive outlook on commodities and views gold as an important source of portfolio diversification.

For deeper insights across equities, fixed income, currencies and commodities, read the full 4Q 2026 Investment Strategy: https://www.uobam.com.sg/insights/quarterly-investment-strategy/qis4q26.page

About UOB Asset Management

UOB Asset Management Ltd (UOBAM) is a wholly owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has 40 years of experience managing collective investment schemes and discretionary funds. As at 31 August 2026, UOBAM manages 63 unit trusts in Singapore and together with its subsidiaries, oversees S$43.9 billion in assets under management.

Headquartered in Singapore, UOBAM has business and investment offices across Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Its network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited in China, and strategic alliances with global investment partners.

UOBAM has received more than 400 industry awards for its investment, digital and sustainable investing capabilities. Its 2026 accolades include Most Innovative Application of Artificial Intelligence (ASEAN)[1], received for the third consecutive year, and the Most Innovative Product (Singapore)[1], alongside investment and sustainability awards across its regional markets. UOBAM was also named Best Regional Asset Management Company in 2025[1] and Best Asset Management House in Asia – 20 Years in 2023[1].

[1]Awarded by Asia Asset Management

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SOURCE UOB Asset Management

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