By Faryar Shirzad, Chief Policy Officer The digital economy is permanently changing the nature of financial services globally and digital assets are at the center of much of this rapid change. This is something clearly understood by the UK Government. John Glen, Economic Secretary to the Treasury, used his recent keynote speech at Fintech Week...Read More
San Francisco-based crypto lending and staking platform, Cred announced today that it has joined Visa’s Fast Track program, which according to the firm would speed-up the process of eventually integrating with Visa, a global payment tech company. According to co-founder and CEO of Cred, Dan Schatt, the firm’s acceptance into Visa’s program would allow Cred...Read More
Switzerland’s government has rejected a 100 million franc ($103 million) bailout for local cryptocurrency companies battered by the coronavirus economy, local media reported. Zug finance director Heinz Taennler requested the special funding package in April. He planned to issue out loans to startups, which could be converted into shares. The central government had already unveiled...Read More
A crypto startup providing wifi hotspot sharing services in Nigeria has won funding from the country’s telecom regulator. Wicrypt placed second among 25 tech companies participating in an innovation competition organized by the Nigeria Communication Commission and it’s going to receive a grant worth 2 million naira to finance its project. Also read: Skrill Now...Read More
Customers of Pittsburgh, Pennsylvania based bank holding company and financial services corporation PNC are having a tough time. But why? It has become exceedingly difficult to connect bank accounts to popular payments app Venmo. PNC Bank and Venmo are at War With Each Other As reported by the Wall Street Journal, a few hours ago,...Read More
It seems that not a day goes by without another central bank jumping on the crypto train. Yesterday it was South Korea, today it is Sweden as plans to roll out the crypto krona gather pace. e-Krona Pilot Partnership Sweden’s central bank is poised to sign a deal with multinational professional services company Accenture to...Read More
Fintech companies in the Federal Republic are quickly moving to develop and offer custodial solutions for digital assets under the new German legislation that will allow banks to store, transfer and trade cryptocurrencies next year. Berlin-based Solarisbank has established a subsidiary that will focus exclusively on the niche. The new entity and another German startup,...Read More
Africa’s first stablecoin, the Africa Stable-Coin(ABCD) is backed by Nigeria’s national currency, the Naira. Also, the fiat-backed crypto is built on Binance’s native blockchain, the Binance Chain. The crypto momentum in Africa doesn’t seem to die down. Budding startups are leveraging blockchain and decentralized ledger technology to create novel applications that will change the future...Read More
In an effort to further establish itself as an emerging fintech and crypto hub Lithuania will be issuing the world’s first collectible crypto coins. The commemorative issue coin is dedicated to the 1918 Act of Independence and will feature its 20 signatories. Crypto-Friendly Lithuania The Bank of Lithuania is expected to issue these world-first digital...Read More
Liechtenstein’s parliament unanimously approved the Act on Tokens and Entities Providing Services Based on Trusted Technologies (TVTG), also referred to as the Blockchain Act. The nation’s parliament passed the Act on October 3. According to local reports, the new law aims to enhance investor protection, prevent money laundering, and establish regulatory clarity. The Act will...Read More
Customers who use the Stripe payment platform will now enjoy business loans up to $20,000 through the company’s recently unveiled Stripe Capital. The company is looking to provide businesses with better access to funds. Stripe, one of the world’s biggest payment services firms, has now announced its decision to get involved with business finance through...Read More
Brexit is going to end soon. How will Fintech Companies fare in the UK post-Brexit? Is Brexit good for cryptocurrencies or bad for it? Brexit has been on the front burner for most of the past two years. Theresa May has already resigned following her inability to make Brexit happen. Boris Johnson is facing the...Read More
Economic hardship, whether driven by trade wars or political divisions, usually drives investors into safe haven assets. It has been the case for gold and Bitcoin this year as currencies get crushed and recession fears loom. Britain’s Brexit woes may spell short term doom for the fintech industry but it is likely to have the...Read More
Photo: Accion / Instagram Accion has just announced new funding for inclusive fintech startups to the tune of $23 million. The funding was raised through Accion Venture Labs, the company’s seed-stage investment division. Specifically, Accion Venture Labs will be increasing its entire capital base by $33 million, with an extra $10 million coming as a...Read More
PNC has gone beyond the normal by creating a tech startup Numo that exists within its ecosystem. Will the new trend be a unique mix of partnerships between finance and technology or just a hybrid? National Banking Network PNC just went one step further into the future. The wizzes at one of the largest banking...Read More
By leveraging R3 Corda’s blockchain solutions, the Wethaq platform aims to improve the market infrastructure used for issuing and trading the Sukuk securities. Enterprise software company R3 has entered into a strategic partnership with Dubai-based fintech firm Wethaq to develop a blockchain-based framework for Islamic capital markets. According to the press release on Wednesday, August...Read More
Through a new Series C funding round, American life insurance startup Ethos has successfully pulled in an additional $60 million investment, driving the company’s valuation all the to the neighborhood of $500 million. The fresh funding of American life insurance startup Ethos was led by Alphabet’s venture division GV with backing from multinational investment bank...Read More
In recent news, Raisin, a fintech startup which offers a marketplace for savings and investment products, has acquired Fairr, which is a German startup aiming to disrupt the pensions industry. Raisin, a fintech startup which mainly offers a pan-European marketplace for savings and investments has just acquired a rival company Fairr to foray into the...Read More
A department of the Israel Ministry of Finance is looking to drive fintech competition with industry teams and licensing help. The Capital Market, Insurance and Saving Authority, a division of Israel’s Ministry of Finance (MoF), is looking to accelerate the process of procuring licenses for blockchain and fintech companies in the country. Israeli business news...Read More
Global investor sentiment toward the crypto industry seems to have shifted in recent years. Here’s how the regulations surrounding this space look in 2019… As the global investor community starts to become increasingly aware of what crypto has to offer, it appears as though this burgeoning asset class is becoming more and more accepted. This...Read More
