Global

July 16, 2020 @ 10:09 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has published draft guidance on their expectations for banks and availability to cash in a market that is seeing a growing number of bank branches closing and ATMs going away. The regulator states that it wants to ensure that… Read More

July 16, 2020 @ 8:53 am By Samantha Hurst  |  

Cryptocurrency trading platform PrimeXBT announced on Wednesday it has further grown its list of expansive trading instruments by adding new assets and trading pairs. PrimeXBT reported that it has offered all of the major forex currencies, such as  USD, GBP, EUR, and JPY, making up… Read More

July 16, 2020 @ 8:40 am By JD Alois  |  

The Financial Conduct Authority (FCA) and the City of London Corporation are partnering on a digital sandbox designed to support firms that are addressing the COVID-19 challenge. The digital sandbox will support both big finance and early state Fintechs seeking to play a role in… Read More

July 16, 2020 @ 8:16 am By JD Alois  |  

EstateGuru is reporting strong results during the first 6 months of 2020. According to a release, the pan-European P2P marketplace for asset-backed loans saw significant year over year growth in revenue of 65% even during the COVID-19 lockdown. Marek Pärtel, co-founder and CEO at EstateGuru,… Read More

July 16, 2020 @ 8:00 am By JD Alois  |  

UK based Fidel, a Fintech that provides real-time data for credit card transactions with clients like British Airways, Royal Bank of Canada, and Klarna, has expanded into the US with the establishment of a New York office. Fidel is backed by Nyca Partners and QED… Read More

July 16, 2020 @ 7:47 am By Omar Faridi  |  

JPMorgan Chase, the largest bank in the US and sixth-largest in the world in terms of assets, has reportedly acquired a minority stake in FitBank, a Brazilian Fintech firm. The amount paid by the bank for the part acquisition hasn’t been shared publicly. Established in… Read More

July 16, 2020 @ 7:38 am By Samantha Hurst  |  

  Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday it reached its extended fundraising goal of $17,000,000 in partnership with BnkToTheFuture. According to Celsius Network, more than 700 qualified investors from all over the world have already participated in the round since June…. Read More

July 15, 2020 @ 11:57 pm By Omar Faridi  |  

David Bouchoucha from BNP Paribas’ asset management division has argued that private debt and real assets could potentially offer good opportunities to investors during the COVID-19 outbreak. Bouchoucha noted that these options can be attractive because private debt and real assets have proven to be… Read More

July 15, 2020 @ 11:15 pm By Omar Faridi  |  

Three key events defined the Ethereum (ETH)-dominated decentralized finance (DeFi) space during Q2 2020. As mentioned in ConsenSys’ Q2 2020 DeFi Ecosystem Report, these events included: Bitcoin on Ethereum overtaking BTC on the Lightning Network (LN), three critical security incidents that led to $26 million… Read More

July 15, 2020 @ 10:50 pm By Omar Faridi  |  

The emergence of new Fintech industry participants such as the Facebook-led Libra project have made it clear that the existing, global cross-border payments system can be improved. A Bank for International Settlements (BIS) committee report on Payments and Market Infrastructure (CPMI) has noted that countries… Read More

July 15, 2020 @ 9:55 pm By Omar Faridi  |  

Brian Bartaby, CEO at Proplend, a UK-based peer to peer (P2P) lending platform, wants the UK government to end its moratorium of commercial property rents, because he thinks it’s “unfair.” As first reported by Peer2Peer Finance News, Bartaby thinks that it was wrong for the… Read More

July 15, 2020 @ 9:50 pm By Omar Faridi  |  

Payments giant Visa (NYSE: V) is reportedly set to enter the emerging installment payments sector. Visa’s management said the firm is currently working with several partners on various initiatives in the US. Installment payments, where consumers at the point-of-sale are able to pay off their… Read More

July 15, 2020 @ 9:47 pm By Omar Faridi  |  

Paxful, a leading peer to peer (P2P) Bitcoin (BTC) marketplace, says it plans to promote greater financial inclusion across the globe. The P2P exchange confirmed on July 14, 2020 that it has surpassed $4.6 billion in trading volume and processed around 4.5 million digital wallet… Read More

July 15, 2020 @ 1:40 pm By Samantha Hurst  |  

Global payables platform Tipalti announced on Wednesday it has surpassed $11 billion in annual transactions. Tipalti reported that despite the economic headwinds caused by the COVID-19 pandemic, it has continued to achieve high growth, ending the second quarter of 2020 at an over 80% growth… Read More

July 15, 2020 @ 10:24 am By Samantha Hurst  |  

Digital Asset, the creators of the open-source DAML smart contract language, announced on Tuesday VMware has joined its Series C funding round, which was announced in December 2019. VMware notably joins technology leaders Salesforce Ventures and Samsung Venture Investment Corp (Samsung) as investors in Digital Asset… Read More

July 15, 2020 @ 9:08 am By Omar Faridi  |  

UK-based Lendy, a peer to peer (P2P) lender that shut down in 2019 and went into administration, was requiring previous investors to pass certain anti-money laundering (AML) checks again, before they qualify to get refunds. Administrators of the bankrupt P2P lender have revealed that the… Read More

July 15, 2020 @ 8:49 am By JD Alois  |  

Paxos Trust Company, the first regulated Trust company for digital assets in the US, is introducing Paxos Crypto Brokerage – a service that integrates digital asset trading and sending within its portfolio of services. Paxos reports that it is the largest issuer of regulated stablecoins… Read More

July 15, 2020 @ 7:58 am By JD Alois  |  

Goldman Sachs (NYSE:GS), the top global investment bank, is out with Q2 numbers and they are pretty good. Earnings per share (EPS) were reported at $6.26 – a big beat versus what the street was anticipating. During the quarter, net revenues came in at $13.30… Read More

July 15, 2020 @ 7:42 am By Omar Faridi  |  

David Rutter, founder at LedgerEdge, a trading venue for the US Treasuries market, and R3, a blockchain and DLT infrastructure company, is reportedly planning to address some of the major challenges in the corporate bond market with the launch of LedgerEdge, a new trading platform…. Read More

July 15, 2020 @ 12:43 am By Omar Faridi  |  

Telefónica, S.A., a Spanish multinational telecommunications company with over 48 billion EUR in annual revenue, will be piloting a blockchain or distributed ledger tech (DLT)-based platform for settling roaming discount agreements. Telefónica will be joined by Deutsche Telekom, a major German telecommunications company, and British… Read More