Jeeves raises $110 million to expand stablecoin-based banking platform

Harmony Gold, which has shown significant growth over the past five years, plans to raise $500 million, equivalent to approximately R8.5 billion, to strengthen its balance sheet. This comes as the price of gold stands at $4337 per ounce.

The precious metal's price is significantly below the historical high of $5589 reached at the end of January, although the inflation-adjusted peak from the 1980s has nearly doubled.

Investors purchasing bonds can receive annual interest rates ranging from 1.5% to 2% until September 2031, and also have the option to convert their investments into shares currently priced at R314.26.

The gold mining company, which is the largest producer of precious metals in South Africa, reported a 1.7% drop in its share price by the close on Monday, despite its shares having grown by 576.85% over the last five years.

Founded in 1950 and headquartered in Johannesburg, the company operates in both South Africa and Papua New Guinea. In South Africa, Harmony has nine underground mines, one open-pit mine, and several surface operations.

Market Volatility

CEO Beers Nel stated: 'We remain confident in Harmony's ability to continue creating long-term value for shareholders.' Harmony is raising funds following two years of sharp increases in gold prices. GoldRepublic notes that in 2024, gold exceeded the $2500 per ounce mark, and in 2025, it broke through $3500, reaching over $5600 in January of this year.

This rise is attributed to factors such as central bank purchases, geopolitical tensions, and monetary policy. However, gold has since returned to a level of around $4337 per ounce. Traders Union points out that investors are assessing the probability of US interest rates remaining high for an extended period, while also monitoring oil prices and their potential impact on inflation.

Long-Term Investment Strategy

Higher interest rates generally negatively affect gold, as the metal does not yield interest, making coupon investments relatively more attractive. Despite the fall from the January record, gold remains exceptionally high by historical standards. GoldRepublic compares the January 1980 peak, which was $678 per ounce, equivalent to approximately $2250 in today's money; thus, at a price of $4337, gold is trading almost twice this inflation-adjusted level.

These bonds are offered to large investors and are expected to be listed on the Frankfurt Stock Exchange.

FintechOS has successfully raised $28 million through a combination of equity and debt financing. The majority of the equity funding was provided by existing shareholders. Among the group's investors are Bek Ventures, IFC, Cipio Partners, and Molten Ventures. Additional senior debt financing was provided by Santander CIB.

This fundraising occurred following a strong first half of 2026. FintechOS achieved profitability, and revenue from recurring payments increased by 40% compared to the previous year. The company's operating EBITDA also grew by over 102% year-over-year. The company forecasts reaching a record number of new clients in 2026.

It is expected that more than 20 financial institutions will implement the FintechOS 8 platform this year. This platform offers artificial intelligence-based tools for managing financial products. FintechOS serves banks, insurance companies, and other organizations providing financial services. The company's technology allows institutions to customize and launch financial products without replacing core systems.

The United States is the fastest-growing market for FintechOS. Revenue in the US increased by 130% year-over-year in the last reporting period. The company now aims for growth of over 200% in the US over the next twelve months. In connection with this, the company is appointing directors to its board of directors in the US and a new chairman.

These appointments are aimed at supporting regional expansion and strategic partnerships. FintechOS is strengthening relationships with major banking system providers. The partnership with Finxact provides access to additional opportunities in the US banking sector, as Finxact operates within Fiserv.

FintechOS also collaborates with Finastra Phoenix. These partnerships may connect the company with a larger number of banks and credit unions. Current clients in the US include ESL Federal Credit Union and Vibrant Credit Union. The platform is also used by Hanscom Federal Credit Union and Farmers Bank of Willards.

FintechOS 8 utilizes a native AI approach for financial product operations. The Dex AI Copilot allows non-technical users to configure products and offerings. The platform integrates product management, data, and AI execution with compliance. It is designed to operate on top of existing financial infrastructures.

Furthermore, the company is implementing a pre-deployment delivery practice. Each client-facing team includes a technical consultant and an engineer. These teams work directly with client product groups, configuring and launching products through a more agile implementation process. FintechOS expects this model to reduce deployment times, lower implementation costs, and increase operational efficiency.

The company has expanded its customer base in Europe parallel to its growth in the US. European clients include BRD Groupe Société Générale, Admiral, CEC Bank, and Bankinter. The latest funding will strengthen FintechOS's expansion base in the US and deepen the company's client portfolio in Europe. The additional capital will also support the delivery organization behind FintechOS 8, including the expansion of engineering and client teams. Other European clients include Howden and Groupama.

The financing structure combines equity with senior debt. This approach provides additional capital without complete reliance on a new equity round. FintechOS founder and CEO, Theo Blidarus, stated that growth and profitability can develop simultaneously. The company continues to work with banks and insurance companies in both regions.

The company's financial performance supports its next phase of expansion. CFO Kirill Desuza noted that the company spent years improving costs and margins. This preparation helped FintechOS return to growth on a stronger operational foundation. The company will present the next phase of growth at the FintechOS Elevate '26 event, held in London on October 14, 2026. FintechOS enters a new phase with reinforced momentum in the US and a profitable operating model.

Before the start of the festive season, the Bureau of Indian Standards (BIS) has increased the stamping fee. This increase amounts to 67 percent. Previously, this fee was 45 rupees, but it has now been raised to 75 rupees.

The stamping fee applies to jewelry and works of art. Instead of 45 rupees per unit, 75 rupees will now be required. This change came into effect in accordance with the BIS (Stamping) Rules Amendments of 2026.

However, this fee increase does not mean that customers must bear an additional charge of 30 rupees. This fee must be paid by jewelers to the stamping centers. The official notification states that this fee cannot be charged directly to the consumer.

Jewelers can either absorb the additional cost of 30 rupees or include it in the manufacturing cost and the total price of the items.

The government notification also stipulates that stamping centers must remit 7.50 rupees per unit of gold (a minimum of 20 rupees for surrender) and 3.50 rupees per unit of silver (a minimum of 15 rupees for surrender) to BIS. Taxes will be levied separately.

The minimum surrender fee will remain at 200 rupees, meaning at least 200 rupees must be paid for one surrender. Furthermore, the rules for silver remain unchanged. The stamping fee for silver items is set at 35 rupees per unit, and the surrender fee is 150 rupees.