James Fry, SVP at Worldpay, Explains Why FedNow 1-Year Anniversary Is Key Milestone for Payments Ecosystem

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July 20, 2024, will mark exactly one year since the Federal Reserve announced the launch of the notable FedNow Service, which has allowed customers at participating financial institutions to make payments that can be sent and received at any time, immediately available to use. The… Read More

 

 




Digital Finance Firm BigPay Launches e-Wallet Service in Thailand

BigPay, the digital financial services division of Malaysia-headquartered Capital A Bhd, has expanded its operations to Thailand. The e-wallet service, which offers features ranging from trip savings to seamless global payments and real-time currency exchange, aims to enhance financial inclusion in the region. The launch… Read More

valantic FSA to Assist Nasdaq with Developing Web User Interface for Fixed Income Markets

valantic FSA announced it has agreed with Nasdaq (Nasdaq: NDAQ) to develop Nasdaq Rates Trader, a new web-based user interface for Nasdaq’s Nordic and Baltic fixed income markets. The new UI will give access to Nasdaq’s data and trading functionality “with a modern and intuitive… Read More

Germany’s Digital Commerce Firm JTL-Software GmbH Partners with Dutch Fintech Mollie

JTL-Software GmbH, a German e-commerce solution provider, and the Dutch financial services provider Mollie are entering into a strategic partnership. The long-term partnership is the result of collaboration “on individual projects since August 2023.” It enables integration of Mollie’s payment services “into JTL’s e-commerce solutions… Read More

US Digital Family Office Arta Finance Launches in Singapore

Singapore at Night Marina Bay

Arta Finance, a US-headquartered digital family office for accredited investors, has secured approval to launch in Singapore, aiming to open its platform to Singaporean residents and other investors later this year. This move follows a significant expansion of Arta’s product offerings and team of industry… Read More

Cash App Pay Integrates with Google Play

Cash App announces its integration with Google Play, giving consumers an alternative payment option when checking out on their Android smartphones or tablets. This partnership represents an opportunity to engage with a broad range of consumers, particularly in the gaming space. Pete Albers, Director of… Read More

Embedded Lending Fintech Jifiti Introduces Tap Now, Pay Later Technology

Jifiti, a global embedded lending technology company, announced the release of its Tap Now, Pay Later technology, which enables consumers and business customers to “add their approved loan or credit funds into any digital wallet, including Apple Pay, via virtual card.” The customer can then… Read More

European Investment Platform Mintos Expands Operations to Czech Republic

Following its entrance in other European Union countries, Mintos, the investment platform providing a range of alternative and traditional investment options, is now focused on continuing its European launch by making its entry in the Czech Republic investment ecosystem. Since its inception back in 2015,… Read More

South Korea Enforces Tougher Virtual Asset Rules

South Kora’s Financial Services Commission (FSC) announced early this week that new stringent regulations targeting illegal transactions involving virtual assets will be enforced. The new legislation, known as the Virtual Asset Users Protection Act, mandates virtual asset exchanges to report illegal activities to the financial… Read More

Aven Announces $142M Series D to Bring Home Equity-backed Credit Card to Homeowners

Aven, a technology company offering consumer credit cards backed by home equity,  announced a $142 million series D round of funding led by Khosla Ventures and General Catalyst, with participation from existing investors including Caffeinated Capital, Electric Capital, Founders Fund, and The General Partnership. Aven… Read More

Blockchain Coinvestors Report: 186 Blockchain Unicorns Now Representing 15% of Global Unicorns

Blockchain Coinvestors, a blockchain venture fund-of-funds and co-investment program with a combined portfolio of more than 1,250 blockchain enterprises and projects, including 95 blockchain unicorns, announced its bi-annual Meet the Blockchain Unicorns report which includes the most comprehensive list of blockchain unicorns globally – “including… Read More




Financial Action Task Force (FATF) Shares Update on New Zealand’s Progress on Addressing Money Laundering

The Financial Action Task Force (FATF) has recently shared New Zealand’s progress in its efforts focused on “strengthening measures to tackle money laundering and terrorist financing.” FATF noted in a blog post that since the 2021 assessment of New Zealand’s measures to tackle money laundering… Read More

Digital Assets Custody Firm Copper Obtains TCSP License in Hong Kong

Copper, a firm focused on digital asset custody, collateral management, and prime services, has secured a Trust or Company Service Provider (TCSP) license in Hong Kong. This license, granted by Hong Kong’s Companies Registry, “represents a key milestone in Copper’s global market expansion and its… Read More

Singapore: MAS Announces Additional $74m Funding for Quantum and AI Technologies

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million (about $74 million) under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0). This funding aims to bolster financial institutions in developing quantum and artificial intelligence (AI) capabilities and foster the… Read More

Velocity Global Expands International Presence with Entities in El Salvador and Georgia

Velocity Global, which claims to be the world’s expert on work, announced that it has successfully opened new entities in El Salvador and Georgia, “allowing customers easy and compliant access to talent in these economies.” The new entities will open opportunities for organizations and local… Read More

How High Will it Go? ETH ETFs Start Trading Next Week

The approval of spot Bitcoin ETFs helped to fuel a bull run in Bitcoin. Ethereum (ETH) ETFs will start trading next week as several spot funds have received regulatory approval. As of today, ETH is trading at around $3500 – having risen by over 10%… Read More

CFPB Proposes Interpretive Rule to Ensure Workers Know Costs, Fees of Paycheck Advance Products

The Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. The guidance will ensure that lenders “understand their legal obligations to disclose the… Read More

SEC Announces New Interagency Securities Council, Aims to Share information Between Federal, State and Local Anti-Fraud Actitivity

The Securities and Exchange Commission, Division of Enforcement, has issued a statement on the new Interagency Securities Council (ISC). This new entity aims to coordinate discussions on fraud and scams and share strategies to counter nefarious activities. The ISC is expected to meet quarterly. The… Read More

Tribe Payments MD Comments on CHAPS Failure

Yesterday, it was reported that CHAPS, or the Clearing House Automated Payment System, the system that enables real-time gross settlement payments in the United Kingdom, had gone offline, impacting some “high-value” payments and transfers. The Bank of Engaland did not reveal the cause of the outage,… Read More

Brazil’s Lift Lab Resumes Innovation Projects for the National Financial System

The Laboratório de Inovações Financeiras e Tecnológicas (LIFT), a joint initiative of Banco Central do Brasil (BCB) and Federação Nacional de Associações dos Servidores do Banco Central, announces the resumption of activities following a hiatus in 2023. Since its inception bac in 2018, the laboratory… Read More

Jared DeMatteis, Chief Legal and Strategy Officer at DailyPay, Responds to CFPB’s Proposed Interpretive Rule

Jared DeMatteis, Chief Legal & Strategy Officer, DailyPay has issued a statemenet regarding the CFPB Proposed Interpretive Rule. Jared DeMatteis, Chief Legal & Strategy Officer, DailyPay said: “We strongly disagree with the CFPB’s proposed interpretive rule. Characterizing employer-integrated Earned Wage Access products as loans or… Read More

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