Global

May 3, 2019 @ 12:26 pm By JD Alois  |  

Last February, the Financial Action Task Force (FATF) issued a statement on “virtual assets” recognizing the need to mitigate risk associated with money laundering and terrorist financing when it comes to cryptocurrency. The “draft interpretive note” regarding a segment on pending recommendations was open for… Read More

May 3, 2019 @ 9:57 am By Samantha Hurst  |  

PaySend, a UK-based global payments platform, announced earlier this week it was launching its services in Sri Lanka. Those who are interested in money transfers to Sri Lanka you can send funds from Europe, Great Britain, Russia, Canada, Australia, Mexico and other countries available on… Read More

May 2, 2019 @ 10:40 pm By Cali Haan  |  

Six individuals in Leeds in Northern England have been convicted for their alleged involvement in a drug trafficking operation that used Bitcoins to import crystal methamphetamine from Canada, Examiner Live reports. The four main suspects in the case are Hassan Jalilian, Michael Bendo, Gohar Manzoor… Read More

May 2, 2019 @ 2:57 pm By Samantha Hurst  |  

Checkout.com, a global payment solutions provider based in the UK, announced on Thursday it secured $230 million through its Series A funding round, which was led by growth investors Insight Partners and DST Global. Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other… Read More

May 2, 2019 @ 2:35 pm By JD Alois  |  

This past week CBInsights published their quarterly report on Fintech investment. As a sector, Fintech investment remains robust but there was a bit of a market shuffle when it came to deal volume. According to the report, during Q1 2019 Fintech deals were up slightly… Read More

May 2, 2019 @ 9:15 am By JD Alois  |  

Many cryptocurrency exchanges are lightly regulated or simply not regulated at all. This has led to rampant claims of bogus trading volumes as some exchanges use wash trading or other ploys to boost volume and the appearance of relevance. The Blockchain Transparency Institute has been… Read More

May 2, 2019 @ 7:41 am By Cali Haan  |  

A lawyer for iFinex, the company behind the Bitfinex cryptocurrency exchange and”stablecoin” Tether (USDT), has admitted in an affidavit that the company only has enough cash on hand to cover 74% of the tethers it has issued into cryptocurrency trading markets. In the affidavit, “Stuart… Read More

May 2, 2019 @ 7:31 am By Cali Haan  |  

Three UK economic development groups announced this week in London that they have formed a FinTech National Network designed to connect financial technology innovators across the country. The three groups –Innovate Finance, FinTech Scotland and FinTech North– made the announcement on Tuesday at UK Fintech… Read More

May 1, 2019 @ 10:11 am By JD Alois  |  

Stealth bank Dozens has closed their crowdfunding round on Seedrs having raised £3.815 million (about $5 million) at a pre-money valuation of £20 million. Dozens had sought a minimum raise of £3.5 million. According to a release, 2,156 investors from 42 different countries invested in… Read More

May 1, 2019 @ 9:36 am By JD Alois  |  

Contradicting an existing belief that Millennials don’t save money, digital-only bank Revolut has shared research indicating that more Millennials are saving money than ever before. Simultaneously, this generation remains deeply concerned about their financial future. Revolut says it surveyed their 18-38 year old customers in… Read More

May 1, 2019 @ 8:12 am By JD Alois  |  

Institutional cryptocurrency exchange LMAX Digital has been approved for a full Distributed Ledger Technology (DLT) License by the Gibraltar Financial Services Commission (GFSC). LMAX was advised by the law firm Isolas in the licensing process. Receiving a DLT License from Gibraltar requires attestation of robust… Read More

May 1, 2019 @ 7:33 am By Cali Haan  |  

The Australian Taxation Office (ATO) has announced it is collecting, “bulk records from Australian cryptocurrency designated service providers (DSPs) as part of a data matching program to ensure people trading in cryptocurrency are paying the right amount of tax.” Data pertaining to the sale and… Read More

April 30, 2019 @ 12:22 pm By JD Alois  |  

During a speech delivered today, Chancellor of the Exchequor Philip Hammond announced the creation of  the FinTech Alliance. The goal is to create one site to join all the aspects of the burgeoning Fintech sector of finance in the UK. The FinTech Alliance will be… Read More

April 30, 2019 @ 11:44 am By JD Alois  |  

BlockState, a new Switzerland based tokenization platform, has announced the first security token offering (STO) from Berlin-based Streetlife International. BlockState is an online capital formation platform for privately owned assets. The company says it will tokenize assets under existing Swiss regulation. The first STO is… Read More

April 30, 2019 @ 11:24 am By JD Alois  |  

“The UK is now a Fintech powerhouse.” Chancellor of the Exchequer Philip Hammond made an appearance at UK Fintech Week today to address Fintech innovation in the United Kingdom. Noting that the City of London has always driven innovation and change, Hammond pointed to the… Read More

April 30, 2019 @ 10:32 am By Erin Hobey  |  

Blanco Niño is enjoying a strong return to Crowdcube. Five years ago the startup raised over £123K on its first campaign, overfunding by 206% with the help of 100 investors. As of today, Ireland-based Blanco Niño has secured over £183,250 from 86+ investors, quickly surpassing… Read More

April 30, 2019 @ 9:47 am By JD Alois  |  

Blockchain ecosystem IOTA announced a significant partnership yesterday with Jaguar Land Rover. The posh auto manufacturer ‘Smart Wallet’ technology is expected to utilize the IOTA Tangle (their flavor of blockchain) for data and value transfer. IOTA reports that it has already been equipped on several… Read More

April 30, 2019 @ 9:33 am By JD Alois  |  

The Spotcap Fintech Fellowship program is now open for applications until August 15, 2019. The program seeks to help talented individuals pursue studies in Fintech. The Fellowship offers an £8k award to one postgraduate student studying a fintech related course at a UK university. This… Read More

April 30, 2019 @ 7:45 am By JD Alois  |  

Yesterday at the opening of UK Fintech Week, Secretary of State for International Trade and President of the Board of Trade Liam Fox announced the launch of the “DIT Fintech Bridge Pilot Program.” According to the Department for International Trade (DIT), the Bridge announced is… Read More

April 30, 2019 @ 5:43 am By Erin Hobey  |  

Totle, a crypto focused startup, just closed its Republic capital raise with $146,577, overfunding by 586%, but falling short of its ultimate $1,070,000 goal. Described as the “Kayak” of crypto, Totle provides a single API to access the leading decentralized exchanges and decentralized exchange protocols. Totle said… Read More