Global

June 7, 2020 @ 3:41 pm By Omar Faridi  |  

On June 5, 2020, the Gibraltar Financial Services Commission (GFSC) issued four separate warning messages regarding fraudulent cryptocurrency-related websites that claim they have been authorized to offer services in the British Overseas Territory. Gibraltar’s authorities noted that the following domains are not licensed by the… Read More

June 7, 2020 @ 2:56 pm By Omar Faridi  |  

The developers of Voice, a blockchain-powered social media platform that aims to “take social back from Big Tech,” confirmed on June 4, 2020, that the beta version of Voice will be open for public reading and international registrations will be accepted until August 15, 2020…. Read More

June 6, 2020 @ 5:04 pm By Omar Faridi  |  

IRISnet and Kava Labs have teamed up in order to further support and promote decentralized finance (DeFi) application development on each other’s respective blockchain or distributed ledger technology (DLT) networks. The collaboration between Kava Labs and IRISnet will involve the whole interchain ecosystem that has… Read More

June 6, 2020 @ 3:01 pm By Omar Faridi  |  

Investments in UK based Fintech businesses surged by 500% during the past five years, and has surpassed funding levels in the US, which also experienced a significant 170% growth during the same period. Meanwhile, Europe saw a 133% increase in total financial technology investments. UK… Read More

June 6, 2020 @ 2:48 pm By Will Hurst  |  

    The financial services competitive landscape has evolved in recent years and it’s clear that fintechs have certainly disrupted traditional banks. Fintechs include any financial tech company that serves any of the following areas; lending, blockchain, Regtech, personal finance, payments and billing, insurance, capital… Read More

June 6, 2020 @ 11:39 am By Omar Faridi  |  

The Fintech sector continues to attract significant investments across the Middle East and Europe. However, the world is currently trying to cope with the socio-economic challenges created by the deadly COVID-19 outbreak. Competition in the Fintech space has been increasing steadily, with many new startups… Read More

June 6, 2020 @ 11:12 am By Omar Faridi  |  

The Securities Services division of France’s BNP Paribas, the 8th largest bank in the world in terms of total assets, is reportedly using Natural Language Generation (NLG) to prepare concise, one-page executive summaries for its custody customers. BNP Paribas explained that NLG helps it convert… Read More

June 5, 2020 @ 5:28 pm By Omar Faridi  |  

The research division of the Bitcoin Mercantile Exchange (BitMEX), a leading cryptocurrency derivatives exchange, has awarded a $100,000 grant to Bitcoin (BTC) developer Gleb Naumenko. BitMEX Research noted via Twitter that HDR Global Trading, the exchange’s parent company,  is “delighted to announce that a US$100,000… Read More

June 5, 2020 @ 2:26 pm By Samantha Hurst  |  

CaixaBank, a retail banking group based in Spain, announced on Thursday it has reached an agreement with IBM Services (NYSE:IBM) to accelerate its “hybrid cloud journey” and increase the bank’s capability to develop innovative, digital-first solutions to enhance client experiences. According to CaixaBank, IBM has… Read More

June 5, 2020 @ 9:51 am By JD Alois  |  

The Future Fund, a UK government initiative to support startups and early-stage ventures – many of which are not profitable, reported 464 applications for the program as of May 31st. As part of a weekly update, HM Treasury quantified the number of applicants – a… Read More

June 5, 2020 @ 8:34 am By Omar Faridi  |  

Metro Bank was reportedly the first financial institution in the UK to allow users to freeze their cards in case they lost it. The feature was introduced in 2014. The freeze feature blocks transactions via payment cards through software, but it’s reversible so the card… Read More

June 5, 2020 @ 8:25 am By JD Alois  |  

Cloud9 Technologies has closed on a $17.5 million Series B funding round led by global bank UBS, with participation from existing investors including JPMorgan and Barclays. Cloud9 has developed a product that uses the “voice communication talk path” for the “trading floor of the future.”… Read More

June 5, 2020 @ 7:59 am By Omar Faridi  |  

Retail sales in the UK have surged dramatically from 16% to 27% of all sales in the country. Tony Moroney, managing partner at, Beta Digital Ltd, predicts: “The end of main street is nigh.” Moroney notes that Amazon’s retail sales surged 26% during Q1 2020,… Read More

June 5, 2020 @ 7:36 am By Omar Faridi  |  

UK-based Starling Bank issued an update on June 1, 2020 regarding the Bounce Back Loan Scheme (BBLS). The British Business Bank has been approving new lenders for several COVID-19 support schemes. As previously reported, JCB Finance will join the other 18 BBLS lenders who have… Read More

June 4, 2020 @ 11:51 pm By Omar Faridi  |  

Cornell computer science professor Dr. Emin Gün Sirer has revealed that AVA’s Denali testnet (test network), which went live on May 31, 2020, now has around 600 validators on board. AVA is an open-source platform for building and deploying decentralized finance (DeFi) apps and enterprise-grade… Read More

June 4, 2020 @ 2:09 pm By Omar Faridi  |  

The New York Department of Financial Services (NYDFS) has reportedly become the first state regulator to commit to a Fintech Memorandum of Understanding (MOU) with the French Prudential Supervision and Resolution Authority, an independent administrative authority, which oversees the activities of banking institutions and insurance… Read More

June 4, 2020 @ 11:00 am By JD Alois  |  

  The Depository Trust & Clearing Corporation (DTCC) is an enormous operation providing the vast majority of clearing and settlement services for securities in the US. To put this in perspective, DTCC processed $2.15 quadrillion (a quadrillion is a thousand trillion) in securities during 2019…. Read More

June 4, 2020 @ 9:00 am By Omar Faridi  |  

Delta Exchange, a digital asset derivatives exchange that maintains business offices in Singapore, has launched interest rate swaps (IRS) on cryptocurrency rates. As mentioned in a release shared with CI: “These swaps will be available on Defi rates, flash rates on Bitfinex, and interest rates… Read More

June 4, 2020 @ 8:46 am By JD Alois  |  

ANote Music, a marketplace for investing in music royalties, is planning to launch on July 28, 2020, according to a company release. Based in Luxembourg, ANote Music plans to allow users to invest in music, own rights from content creators, and earn returns through the… Read More

June 4, 2020 @ 7:48 am By Omar Faridi  |  

UK-based Minted, a Shariah-compliant platform for trading gold, is planning to launch in the coming months. Co-founder Shahmad Ahmed told Salam Gateway that his company has acquired regulatory approval from the Financial Conduct Authority (FCA) to serve as an e-money business. He noted that Minted’s… Read More