August 3, 2020 @ 5:01 pm By JD Alois  |  

InstaReM, part of Nium, has partnered with SBM Bank India on outbound remittances from India. InstaReM says it will work closely with SBM Bank India as its licensed banking partner to facilitate international money transfers from India. As shared in a release, SBM Bank India… Read More

August 3, 2020 @ 4:47 pm By JD Alois  |  

Boon, a European payments platform and Apple Pay partner (among others), is shutting down, according to the company. Boon is part of Wirecard (WDI:DE), a Germany based Fintech that recently filed for bankruptcy following revelations of an accounting scandal and allegations of fraud. Boon is… Read More

August 3, 2020 @ 3:29 pm By JD Alois  |  

Last week, Acting Comptroller of the Currency Brian P. Brooks virtually presented Varo Bank, N.A. its official charter. Varo Money has been in business for years having provided bank services by partnering with an already chartered bank. As of August 1st, 2020, Varo Bank can… Read More

August 3, 2020 @ 3:18 pm By Samantha Hurst  |  

U.S. banking group BankMobile announced on Monday it has teamed up with Google to introduce digital bank accounts to its customers. According to BankMobile, the digital checking account will be built on top of BankMobile’s existing banking infrastructure and the accounts will be FDIC-insured, with… Read More

August 3, 2020 @ 2:50 pm By Samantha Hurst  |  

Blockchain company Huobi Group announced on Monday the establishment of Huobi DeFi Labs. According to Huobi, Huobi DeFi Labs is a platform for decentralize finance (DeFi) research, investment, and incubation/ecosystem building in DeFi space. The platform notably aims to build a “better” financial system in… Read More

August 3, 2020 @ 2:44 pm By JD Alois  |  

Russia has signed into law legislation that impacts the cryptocurrency sector. On the last day of July, the Russian President, Vladimir Putin, signed the document that introduces a legal framework for digital assets that differentiates between digital securities and digital currencies. The statute, Federal Law… Read More

August 3, 2020 @ 1:12 pm By Samantha Hurst  |  

Next Insurance, an insurtech seeking to transform small business insurance, announced on Monday the availability of Tools and Equipment and Hired and  Non-Owned Auto (HNOA). According to Next, the product offerings are the latest developments in the company’s path to becoming the one-stop-shop for insurance coverage… Read More

August 3, 2020 @ 12:13 pm By JD Alois  |  

  BBVA USA (NYSE: BBVA) is working with Google (Alphabet) (NASDAQ:GOOG) to offer digital bank accounts according to a release distributed by the bank. Spain based BBVA has been in business since 1857 and boasts a strong presence in the US with 641 branches, mainly… Read More

August 3, 2020 @ 11:58 am By Samantha Hurst  |  

Electric Capital, a venture firm that invests in cryptocurrencies, blockchain-based businesses, fintech companies, and marketplaces, announced on Monday the closing of its second fund, a $110 million Seed and Series A fund, focused on crypto networks and blockchain-enabled businesses. Founded in 2018, Electric Capital claims it… Read More

August 3, 2020 @ 10:51 am By JD Alois  |  

RateSetter, a leading UK based peer to peer lender, has been acquired by Metro Bank. The purchase of RateSetter has long been anticipated as the P2P lender messaged earlier that it was exploring “strategic options” – a euphemism for a sale. In June, there were… Read More

August 3, 2020 @ 10:25 am By Samantha Hurst  |  

Digital insurance platform for businesses CoverWallet announced on Monday the launch of its new digital insurance product specifically for venture capital (VC) backed startups. According to CoverWallet, VC-backed startups may instantly buy and manage Directors & Officers insurance (D&O), Employment Practices Liability (EPL), and Fiduciary… Read More

August 3, 2020 @ 9:30 am By Samantha Hurst  |  

U.S. fintech Galileo announced on Monday it is powering RoarMoney, a new demand deposit account offered by consumer digital finance platform MoneyLion. According to Galileo, RoarMoney is designed to meet consumers’ financial needs now and as they evolve – from faster access to their funds… Read More

August 3, 2020 @ 9:27 am By JD Alois  |  

DIA or “Decentralised Information Asset” described as an open-source data and oracle platform for the DeFi ecosystem, has kicked off its public distribution of its governance token. The distribution of the governance token is via an “autonomous bonding curve sale” for the Switzerland based entity…. Read More

August 3, 2020 @ 9:21 am By Samantha Hurst  |  

Wirex, a UK-based payments platform, announced on Monday it has launched its first global TV brand campaign. Wirex reported that the TV ad solidifies its core message of empowering people to experience the benefits of a world where all currencies, crypto or fiat, are equal… Read More

August 3, 2020 @ 8:51 am By JD Alois  |  

The Bank for International Settlements Innovation Hub (BISIH) Centre in Hong Kong and the Hong Kong Monetary Authority (HKMA) have partnered on a trade finance project to highlight the opportunity to improve the sector of finance with technology. The “TechChallenge — Digitising Trade Finance” is… Read More

August 3, 2020 @ 7:23 am By Omar Faridi  |  

The overall performance of the nascent cryptocurrency market during Q2 2020 was not as good as it was when compared to the previous quarter. According to Token Insight, the main reason for the relatively poor performance this past quarter may be attributed to very little… Read More

August 3, 2020 @ 7:20 am By Omar Faridi  |  

Fintech firm Become, an online lending platform for SMEs, notes that digital or e-commerce has been accelerated by about 4-6 years due to COVID-19 which has led to permanent changes in consumer behavior. Individuals and business owners are increasingly using all-digital services, instead of visiting… Read More

August 3, 2020 @ 12:16 am By Omar Faridi  |  

WeLab Bank has confirmed the public launch of its digital banking services. WeLab Bank is notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the… Read More

August 2, 2020 @ 11:45 pm By Omar Faridi  |  

Singapore based DBS Bank Ltd, (SGX: D05), a multinational banking and financial services corporation with over $330 billion in assets, has teamed up with the Government Technology Agency of Singapore (GovTech) to test out the SingPass face verification technology system. DBS Bank aims to attract… Read More

August 2, 2020 @ 11:30 pm By Omar Faridi  |  

October, a leading European online lender, reveals that it was definitely not “idle” during the month of July 2020, despite the challenges created by the global COVID-19 outbreak and the resulting economic uncertainty. October claims that July 2020 was a record month, during which 55… Read More