Global

March 13, 2020 @ 10:03 am By JD Alois  |  

The German Federal Financial Supervisory Authority or BaFin, has approved the first cross-border security token offering (STO) for ParkinGO, according to the company. ParkinGO will be issuing digital securities on the token issuance platform STOKR based in Luxembourg. Retail investors in Germany, along with investors… Read More

March 13, 2020 @ 9:37 am By Omar Faridi  |  

TBC Bank Group PLC, a Georgian bank headquartered in Tbilisi, Georgia, announced on March 12, 2020 that it will be expanding its digital banking services to Germany, in order to take advantage of the leading European nation’s progressive environment for new businesses. The Space digital… Read More

March 13, 2020 @ 8:20 am By JD Alois  |  

Starling Bank, a digital-only bank, has been voted ‘Best British Bank’ for a third consecutive year at the British Bank Awards. Other Fintechs were on the list too. Revolut, another digital bank, was recognized as the “Innovation of the Year.” Monzo was noted as offering… Read More

March 13, 2020 @ 8:03 am By Omar Faridi  |  

The Bank of England (BoE), the UK’s reserve bank, has released a discussion paper on virtual currencies. The BoE’s 57-page research document includes an illustrative model of central bank digital currencies, or CBDCs, which could be developed to store monetary value and settle payments by… Read More

March 13, 2020 @ 7:57 am By Omar Faridi  |  

Backbase, an omnichannel digital banking solution provider, has teamed up with Finxact, in order to assist banks and credit unions with their digital transformation efforts. The partnership between Backbase, a Netherlands-based digital banking software developer, and Finaxct, aims to combine the best of online and… Read More

March 12, 2020 @ 9:46 pm By Omar Faridi  |  

The People’s Bank of China (PBoC) has reportedly acquired 32.35 million RMB (appr. $4.7 million) in special funding in order to finance the ongoing development of its blockchain or distributed ledger technology (DLT)-enabled trade finance platform. The funding, which will be gradually injected during a… Read More

March 12, 2020 @ 9:43 pm By Omar Faridi  |  

Orange is launching Orange Money in Morocco. The solution will allow mobile customers, regardless of which telecom operator they use, to perform transactions through a digital wallet linked with their cell phone number.  Orange Money will allow smartphone users to perform everyday financial transactions, pay… Read More

March 12, 2020 @ 9:40 pm By Omar Faridi  |  

London-headquartered Standard Chartered, a British multinational banking and financial services company with over $700 billion in total assets, has reportedly become the first major financial institution to join TradeLens, blockchain-powered container logistics solution created by IBM and Maersk. Standard Chartered is notably the first financial… Read More

March 12, 2020 @ 2:39 pm By Omar Faridi  |  

Equity crowdfunding continues to fill the gap for startups looking to raise capital. Malaysia-based LuxTag, an anti-counterfeit, track and trace, and anti-theft solution provider, recently secured $360,000 in funding, with 51% of the capital denominated in Bitcoin (BTC) and NEM blockchain project’s native token, XEM. … Read More

March 12, 2020 @ 11:56 am By Omar Faridi  |  

Cathay Financial has reportedly decided to join Plug and Play Singapore’s insurance technology  (Insurtech) program.  Both parties are planning to extend their partnership by working cooperatively with promising startups that are developing products and services for the financial services and health industry.  Cathay Financial and… Read More

March 12, 2020 @ 11:41 am By JD Alois  |  

The Autorité des Marchés Financiers, the main securities regulator in France, has published a legal analysis of security tokens. France is already known for its initial coin offering (ICO) friendly ecosystem where utility tokens (not securities) may be issued and traded in a compliant environment…. Read More

March 12, 2020 @ 8:18 am By Samantha Hurst  |  

Paysafe Group, a global payments provider, announced on Thursday it has expanded its strategic partnership with Mastercard. Paysafe reported that the new agreement was designed to support its growth and card acceptance in the European Economic Area (EEA) with a particular focus on Paysafe’s card… Read More

March 12, 2020 @ 7:36 am By JD Alois  |  

Luxembourg based Fintech Tokeny Solutions has partnered with Cynopsis to provide a streamlined compliance solution to its customers. Cynopsis Solutions was established in Singapore in 2014 and offers services designed to automate KYC processes. It has operations in Singapore, UK, Taiwan, and Vietnam. Cynopsis Solutions… Read More

March 12, 2020 @ 7:21 am By Omar Faridi  |  

BBVA (Banco Bilbao Vizcaya Argentaria, S.A)., a Spanish multinational financial services company, is making changes to its Open Talent competition for early-stage firms and startups, in order to work cooperatively with Fintech businesses. BBVA is one of the world’s largest financial institutions. It offers services… Read More

March 12, 2020 @ 7:15 am By Omar Faridi  |  

The Facebook-led Libra stablecoin project might now have some competition. The Celo Foundation has managed to sign up 50 organizations to its “Alliance for Prosperity” program, which aims to enable greater financial inclusion by leveraging blockchain technology and helping people transact with digital assets. Giant… Read More

March 12, 2020 @ 7:09 am By Omar Faridi  |  

London-based Salary Finance, a company that specializes in salary-linked savings and loans for workers across the UK, has reportedly acquired Neyber, a Goldman Sachs-backed competitor.  Neyber was founded in 2016 by former Goldman Sachs employees Martin Ijaha and Monica Kalia and joined by former Credit… Read More

March 11, 2020 @ 11:21 pm By JD Alois  |  

Phemex, a crypto derivatives trading platform led by former Morgan Stanley executives, has raised $3.5 million in a funding round led by NGC Ventures. In a release, Phemex said it will utilize the additional capital for global expansion into Japan, Korea and Russie as well… Read More

March 11, 2020 @ 9:03 pm By JD Alois  |  

In 2016, Friends & Brgrs, a restaurant group based in Finland, raised capital on Invesdor. The company sought up to €980,000 at a pre-money valuation of €8.82 million. According to the offering page, 560 investors purchased shares in the small company at €24.50 each. The… Read More

March 11, 2020 @ 8:41 pm By JD Alois  |  

TrueLayer and Stake have formed a partnership to speed up the transfer of money in the brokerage market.  Customers of Stake, a brokerage app, can now use “Payments Initiation” to transfer money to quickly make investments. The arrangement is said to be one of the… Read More

March 11, 2020 @ 6:33 pm By Omar Faridi  |  

Finantix has reportedly signed an agreement for the acquisition of Zürich-based InCube Group AG, a company with a team of artificial intelligence (AI) specialists, quant and application developers and finance professionals that create data-driven, AI-powered products for wealth managers and insurers. Finantix’s acquisition of InCube… Read More