Global

We find Fintech news from around the world and share it with you here.

UK’s Royal Mint Partners With Mastercard to Launch £18,750 Gold Payment Card

UK’s Royal Mint has developed a solid gold payment card that’s priced at £18,750 (appr. $23,460). Royal Mint is a government-owned firm that is tasked with minting coins for the UK. The company noted that it partnered with Mastercard and payments technology firm Accomplish Financial… Read More

China: WeiyangX Fintech Review

Chinese Banks May Stop Cooperation with Third-Party Data Provider Following Release of a New Privacy Regulation According to reports, People’s Bank of China (PBC) has issued the “Personal Financial Information (Data) Protection Measures (Draft)” to some Chinese banks this week. It is believed that the… Read More

Italian Banking Group Intesa Sanpaolo Has Invested €7 million in Mobile Payment System Developer MatiPay

Intesa Sanpaolo, an Italian banking group formed through the merger of Banca Intesa and Sanpaolo IMI, has reportedly invested €7 million in mobile payment system developer MatiPay.  The multi-million dollar investment will allow MatiPay to expand its operations in Europe, Japan and the US, where… Read More

Coinbase Receives E-Money License in Ireland, Company Is Expanding European Operations

San Francisco-headquartered crypto exchange Coinbase is expanding its operations in Europe with an e-money license granted by Ireland’s central bank. On October 11, Zeeshan Feroz, CEO of Coinbase’s UK division, revealed that the digital asset trading platform had become “one of just a few companies”… Read More

Perth Mint Plans to Sell Gold-Backed Crypto Tokens

The Perth Mint, a large “precious metals enterprise” in Australia, has announced it will be issuing, “the first digital gold token on a public blockchain-backed…1:1 by GoldPass certificates issued by The Perth Mint…” No date for when the product will become available has not yet been… Read More

CipherTrace Hosting FATF Crypto Travel Rule Hackathon

Blockchain forensics firm CipherTrace is hosting a Travel Rule Compliance Conference and Hackathon in San Francisco November 5th and 6th. The event has been organized, “to develop open solutions that cryptocurrency exchanges, hedge funds, blockchains and banks urgently need to comply with both the FATF and… Read More

China Construction Bank Expands Blockchain-based Finance Platform, Trade Volume Reportedly Exceeds $53 Billion

China Construction Bank (CCB), one of the nation’s largest financial institutions, has reportedly added new features to its blockchain-based finance platform. According to local news outlet Xinhuanet, CCB’s distributed ledger technology (DLT)-enabled finance platform can now process cross-chain and inter-bank transactions. Trading volume on the… Read More

UK-based Challenger Metro Bank Partners With Three Fintech Firms to Expand its Offering for Business Clients

UK-based challenger Metro Bank is expanding its offering for business clients through several new Fintech partnerships. In February 2019, Metro Bank won £120 million (appr. $150 million) from the £750 million (appr. $935 million) Royal Bank of Scotland (RBS) bailout fund aimed at promoting competition… Read More

SEC Slams the Brakes on Telegram’s $1.7 Billion Digital Token Offering in an Emergency Action

The Securities and Exchange Commission (SEC) has filed an emergency action and obtained a temporary restraining order against Telegram. The SEC targeted two offshore entities conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas that has raised more than $1.7 billion… Read More

Abandoning Ship: eBay, Visa, Mastercard and Stripe Exit Facebook’s Libra Association [u]

Following in the footsteps of PayPal, which walked away from the Libra Association last Friday, eBay and Stripe have now departed the alliance. In an update, Law360 has confirmed that Mastercard and Visa have exited the Libra Association as well. “We highly respect the vision… Read More

Amsterdam-based ING Bank Launches Initiative to Promote Artificial Intelligence Adoption in the Netherlands

Amsterdam-based ING, a multinational banking and financial services corporation, has joined a group of organizations to promote the development and adoption of artificial intelligence (AI) in the Netherlands. The project is part of a nationwide plan to halt a brain drain of talented AI professionals… Read More

UK Financial Conduct Authority Updates on Expectations as Brexit Deadline Nears

The UK Financial Conduct Authority (FCA) has published updated information on the ramifications of Brexit in a no deal scenario. Currently, the UK is scheduled to exit the European Union on October 31st. Recently, there has been some more positive chatter on negotiations, and the… Read More

Three Existing Shareholders Add Capital to Bloomio in Advance of Series A

Swiss crowdfunding platform Bloomio has received a CHF 800,000 capital injection from three existing shareholders according to a company release. The blockchain-based marketplace called that added capital a big step forward as the company plans for a forthcoming Series A funding round. Capital invested to… Read More

UK based Smartlands Signs Agreement with US based Broker Dealer IIP

Smartlands, “a digital platform for crowdfunding investments via the issuance of digital shares in the form of security tokens,” has signed a “Cooperative Agreement with IIP Securities – a US-based broker-dealer, according to a company release. Smartlands states that the agreement will enable it to… Read More

BIS, “Central Bank of Central Banks,” Exploring Interbank Digital Asset Settlement and Central Bank Digital Currency at Switzerland Innovation Hub

The Bank for International Settlements (BIS), popularly known as the “central bank of central banks,” will be engaging in two projects at the BIS’s newly-established Innovation Hub in Switzerland, one of which involves, “examin(ing) the integration of digital central bank money into a distributed ledger technology… Read More

Norway’s Largest Bank DNB Introduces New Version of Mobile Banking App, Powered By Nordic API Gateway

DNB, Norway’s largest financial institution, is introducing a new version of its mobile banking app.  DNB’s app will reportedly be powered by open banking platform Nordic API Gateway. The mobile-based app will allow the bank’s customers and other users to access all their personal and… Read More

Headlines Claiming Institutional Interest in Crypto Down Significantly

Besides injections of Tethers and high-profile proclamations of imminent six-figure Bitcoin valuations, rumours of institutional money shortly avalanching into crypto also fuelled Bitcoin’s parabolic bull run in late 2017. Similar claims of institutional crypto thirst were in the media made this summer, and a price… Read More

Deputy Managing Director, Monetary Authority of Singapore: Tokenised Assets Can Simplify Post-trade Processes and Shorten the Settlement Cycle

In a wide-ranging speech at The World Federation of Exchanges General, Jacqueline Loh, Deputy Managing Director, Monetary Authority of Singapore (MAS) addressed the advent of blockchain or distributed ledger technology (DLT) in the utilization of regulated securities and exchanges. Singapore is a noted Fintech Hub… Read More

ShareIn Plans Significant Growth with ShareInPay

ShareIn, an Edinburgh based Fintech, has announced plans to expand the team to 40 people over the coming year. The company says the expansion aligns with the recently announced launch of ShareInPay. Prior to the launch of ShareInPay, the company offered direct investment platforms. ShareInPay… Read More

Crowdcube Shares Top Line Results: Record Growth in Q3

The UK’s largest investment crowdfunding platform Crowdcube has shared their top-line results for Q3. According to the platform, Crowdcube has achieved record revenue. Revenue is up 38%, reaching £2.2 million, totaling £58.7 million of pledged investment. During the quarter, a record ​62,000 in pledged investments… Read More

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