Global

October 15, 2018 @ 7:50 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has sent a “Dear CEO letter” to lenders of high-cost, short term credit, aka payday loans, admonishing these platforms for an increase in “complaints about affordable lending.” The complaints also reference problematic “chain of loans,” or stacking, that may… Read More

October 14, 2018 @ 8:33 pm By JD Alois  |  

Later this month, Hong Kong will host their annual Fintech Week. This year’s event is being billed as the “world’s first” cross-border Fintech event. The multi-faceted conference will straddle Honk Kong and Shenzen – the relatively new metropolis that links Hong Kong to China’s mainland. Macao… Read More

October 14, 2018 @ 5:20 pm By Aubrey Hansen  |  

If you’ve been interested in cryptocurrency for any period of time, there’s a good chance you’ve heard the term “wallet,” and you probably realize that it doesn’t quite mean the same as it does in everyday life. A wallet in crypto terms is somewhere for… Read More

October 13, 2018 @ 6:50 pm By JD Alois  |  

Congressman Brad Sherman is well known for his anti-crypto perspective having attacked digital currencies during Congressional hearings. Modulus CEO Richard Gardner recently challenged Representative’s Sherman opinion pointing to a statement emanating out of Kenya. Bitange Ndemo, Chairman of the Taskforce on Distributed Ledgers and Artificial Intelligence… Read More

October 13, 2018 @ 11:54 am By Xu Gao  |  

Alibaba Submits Blockchain Patent Applications that Allow “administrative intervention” On October 6th, Chinese e-commerce giant Alibaba applied for a blockchain system patent, allowing third-party administrators to perform “special treatment” (e.g. suspend a smart contract or freeze an account associated with an illegal activity). For example,… Read More

October 12, 2018 @ 8:54 am By JD Alois  |  

Dow Jones VentureSource is out with their quarterly report on VC activity for Q3 of 2018. According to their numbers, European VC fundraising increased during Q3 but investment in European companies “showed a notable decline in deal flow activity and investment levels.” The report states… Read More

October 12, 2018 @ 7:36 am By JD Alois  |  

Chilango prominently issued a mini-bond on Crowdcube several years back. The “Burrito Bond, as it was called, raised £2.16 million from 748 smaller investors. The mini-bond, the first of its kind, was a perk incentivized security. For investors that purchased £10,000 or more of the… Read More

October 11, 2018 @ 10:36 am By Samantha Hurst  |  

Global payments platform Worldpay, Inc. announced on Thursday the launch of its new payout solutions that give multi-national e-commerce businesses more choices to disburse funds to partners and customers across country borders. The company reported that it is expanding the service to more than 50… Read More

October 11, 2018 @ 9:43 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Financial Services Authority of the Republic of Indonesia, or “Otoritas Jasa Keuangan” (OJK), have signed a memorandum of understanding (MOU) to boost Fintech cooperation and foster innovation in financial services between the two countries. The MOU is… Read More

October 11, 2018 @ 3:17 am By Erin Hobey  |  

Streamr, an open-source, real-time data platform just selected as one of PwC’s Crypto Valley’s Top 50 Projects, continues to expand its network with a new partnership with Japan-based Daisy AI, an AI platform focused on using blockchain for deep learning. Daisy AI will use Streamr… Read More

October 10, 2018 @ 11:23 pm By Pedro Anderson  |  

When a new technology emerges, the word ‘disrupt’ is utilized to highlight the wonderful features to be developed and promises to be fulfilled. Since blockchain technology gained popularity in the last decade, the term blockchain has been linked to the term ‘disrupt’ almost as a… Read More

October 10, 2018 @ 5:31 pm By JD Alois  |  

The International Monetary Fund (IMF) is meeting this week in beautiful Bali. The discussion includes routine topics such as economic forecasts for growth, challenges and opportunities. There is, of course, a trade skirmish that may turn into a trade war which may create bigger problems… Read More

October 10, 2018 @ 3:42 pm By JD Alois  |  

Digital only challenger bank Starling is expanding its “Banking-as-a-Service” and Payment Services offer. These are two white label banking services offered in the UK allowing other entities to provide retail banking services and make payments. Current  clients include Ditto, Raisin UK, and the Department for Work… Read More

October 10, 2018 @ 3:11 pm By Cali Haan  |  

In the midst of a migratory crisis seeing more than 5000 people leaving Venezuela per day, Venezuelan vice-president Delcy Rodriguez announced that, effective immediately, passports in Venezuela must be paid for using the government’s controversial new cryptocurrency, El Petro, at a cost-equivalence of four month’s wages,… Read More

October 10, 2018 @ 9:29 am By JD Alois  |  

Crowdcube Spain, the Spanish iteration of the UK based investment marketplace, has topped €20 million in funding for Spanish firms. According to the platform, since 2014, Crowdcube Spain has helped 61 companies in 72 offerings to raise money online. According to data from the Spanish Association… Read More

October 10, 2018 @ 8:41 am By JD Alois  |  

The Chancellor of the Exchequer, Philip Hammond, is currently at the IMF Annual Meeting taking place in Bali. While at the meeting, the Chancellor is polishing the UK chops when it comes to innovations in Fintech. According to a note from HM Treasury, Hammond will position Britain… Read More

October 10, 2018 @ 8:10 am By JD Alois  |  

Global retailer H&M has invested in Swedish payments Fintech Klarna. According to reports, H&M invested $20 million in Klarna, a company that has now raised over $680 million. Additionally, H&M announced a new global partnership in a release posted on its site. and Klarna will… Read More

October 10, 2018 @ 7:57 am By JD Alois  |  

Growthdeck has listed an EIS compliant investment opportunity to back to eticketing hub WebTicketManager. According to the offering page, WebTicketManager is raising £557,000 for a 21% equity stake in the firm. Expectations are for an exit EBITDA multiple of 5X or an exit IRR of 68%… Read More

October 9, 2018 @ 10:11 pm By Cali Haan  |  

The Commonwealth Scientific and Industrial Research Organisation (CSIRO) of Australia’s Data 61 data research arm is trialling an app that uses blockchain to track and issue payments within the country’s National Disability Insurance Scheme (NDIS). According to a CSIRO Data 61 press release, the trial… Read More

October 9, 2018 @ 3:13 pm By Samantha Hurst  |  

HSBC Global Private Banking, Americas announced on Tuesday it has formed an agreement with financial technology firm iCapital Network to expand and streamline client access to alternative investments. HSBC reported that the partnership is part of its initiative to enhance investment management capabilities and expand its product… Read More