GovCon News

Microsoft has confirmed its commitment to helping the U.S. National Cybersecurity Strategy. The company is pushing for the adoption of a zero trust approach to internet of things security, a move aligned with the federal government's cybersecurity plan. With this approach, the Redmond, California, firm hopes to optimize security and minimize risk by using zero trust to secure identity, endpoints and infrastructure, among other things. Plans are also laid down to align different products and services, including Windows IoT and Microsoft Azure Sphere, with the White House strategy, Microsoft said.

Lockheed Martin's satellite designs for the Tranche 1 Transport Layer constellation have cleared the Space Development Agency's critical design review, meaning the company can proceed to the satellite production process. As part of the CDR, SDA evaluated Lockheed's ground and supplier designs and conducted an optical communications terminal interoperability test. SDA previously awarded Lockheed a contract to deliver 42 T1TL satellites for secure, low-latency military data transmission and connectivity. T1TL satellites are slated for launch beginning in 2024, Lockheed Martin said.

The Central Bank of Honduras has begun a two-month consultation period for its potential retail central bank digital currency (CBDC), emphasizing financial inclusion. The central bank also wants to focus on cross-border payments, particularly remittances, during the CBDC consultation period. The International Monetary Fund is helping Honduras with its CBDC research and has brought up Brazil and India as possible models for its CBDC development. The central bank, with the IMF, has published a paper on future money and payments, Ledger Insights reported.

The Singapore Red Cross has partnered with Triple-A to accept various types of cryptocurrency donations, such as bitcoin, ethereum, and tether. Using Triple-A's crypto payment gateway systems, all crypto donations to the organization will be converted into fiat currency and settled through a bank transfer within one business day. According to Singapore Red Cross Secretary General and CEO Benjamin William, crypto donations offer efficient processing and greater accessibility to philanthropists wishing to help using their digital assets. Triple-A CEO Eric Barbier added that crypto payments facilitate faster and more secure transactions, reduce administrative overheads, and ensure that funds are delivered promptly. The new payment option is live, and donations can now be made through the Singapore Red Cross' website, FinTech Finance News reported.

The Green and Sustainable Finance Cross-Agency Steering Group of Hong Kong shared their priorities for enhancing the sustainable finance ecosystem of the special administrative region. In a press release published by the Securities and Futures Commission (SFC), the Steering Group plans to establish a road map for implementing the International Financial Reporting Standards Sustainability Disclosure Standards. Additionally, they aim to strengthen the finance ecosystem's capacity, data, and technology to facilitate a net-zero transition across the economy through workshops supporting non-listed companies and small and medium-sized enterprises, a portal containing climate-related data, potential private-public partnerships for technology development, and stakeholder engagement to create a financial technology road map. The Steering Group also seeks to cultivate diverse and trustworthy markets to support financial institutions and corporations in their transition planning and reporting. The Steering Group is co-chaired by the Hong Kong Monetary Authority and the Securities and Futures Commission, the SFC said.

The Monetary Authority of Singapore (MAS) granted Blockchain.com a major payment institution license on August 1, allowing it to provide digital payment services to institutional and accredited investors. Blockchain.com offers crypto financing services across over 200 countries, creating 87 million crypto wallets and managing over 33 percent of bitcoin transactions worth over $1 trillion. The cryptocurrency exchange becomes Singapore's twelfth digital payment token service provider, joining the likes of Paxos and DBS Vickers. Blockchain.com received an in-principal approval from MAS in September 2022, Cointelegraph reported Tuesday.

The Monetary Authority of Singapore (MAS) will provide SGD 150 million (USD 111.64 million) over three years to strengthen innovation across the financial technology sector. The funding, provided through the Financial Sector Technology and Innovation Scheme 3.0 (FSTI 3.0) vehicle, will be distributed across three tracks: FinTech innovation acceleration, responsible FinTech governance, and corporate venture capital-supported innovation. FSTI 3.0 will also support regulation technology, artificial intelligence and data analytics adoption across financial firms, and FinTech workforce development, the Monetary Authority of Singapore said Monday.

AECOM reported revenues of $3.7 billion in the third quarter of 2023, up 13 percent from the same period last year. The company ended the period with a 10 percent jump in the design business backlog, driven by a continued high win rate. AECOM CEO Troy Rudd said collaboration, consistent execution and focused allocation of resources to highest-returning opportunities led to the strong quarterly performance. The third quarter results also headline accelerating organic net service revenue growth, margin expansion, double-digit adjusted earnings per share growth and strong cash flow, AECOM said.

Two teenagers from Arizona were jailed for attempting to ship assault rifles to Mexico without a valid license or any export authority. According to the U.S. Attorney's Office for the District of Arizona, Manuel De Jesus Guzman and Joshua Francisco Mendez carried two Romarms WASR-10 rifles, one Century Arms VSKA rifle, and one Century Arms BFT rifle on their body as they entered the DeConcini Port of Entry in Nogales, Arizona, on their way to Mexico. U.S. Customs and Border Protection officers located the rifles. Guzman was sentenced to one year and six months in prison while Mendez was sentenced to a year in prison, the U.S. Department of Justice said Monday.

Immersive training platform manufacturer HTX Labs has entered into a strategic partnership with virtual reality training solutions provider Vinci VR. Under the partnership, Vinci's content team will use HTX Labs' EMPACT platform to create new simulations and VR training solutions. Specifically, Vinci will integrate its development solutions with EMPACT to create and deploy realistic, safe and immersive VR training. Work under the partnership is expected to enhance operational efficiency, optimize safety, reduce training costs and transform training methods, HTX Labs said Monday.

Viasat has secured multiple contracts worth $80 million in total to develop active electronically scanned array systems for land, sea and space applications. Heanne Atwell, general manager of Viasat's Arizona Operations, said the contracts will ensure that AESA improvements will translate to an enhanced sensor, satellite communications and line-of-sight communications. Viasat will use its commercial AESA phased array antenna technology and products to meet defense requirements. The contracts would also extend phased array technology to support additional operational environments and mission needs, Viasat said Monday.

Northrop Grumman has delivered the Arctic Satellite Broadband Mission's Control and Planning Segment ground systems and Enhanced Polar System Recapitalization payloads to the U.S. Space Force and will proceed with the ASBM program's operational phase. The company also integrated the EPS-R payload to ASBM-1 and ASBM-2 and has completed thermal-vacuum environmental testing on ASBM-1. ASBM is an anticipated two-satellite constellation co-developed by the Space Force, Space Norway and Northrop Grumman that will provide protected communications to the Northern polar region. The satellites will carry multiple payloads, including the EPS-R and communications equipment from Norway and Inmarsat, Northrop said Monday.