Tagged: australia

December 22, 2019 @ 12:49 pm By Cali Haan  |  

Australia’s anti-money laundering agency has revoked the licences of four cryptocurrency exchanges linked to crime in the country, IT News reports. AUSTRAC revoked licenses at AUSCOIN ATM and MK Buy & Sell in September. Both projects were run by “Lamborghini-driving Bitcoin trader Sam Karagiozis” and associates…. Read More

December 18, 2019 @ 8:53 am By Omar Faridi  |  

Australian banking challenger 86400 has teamed up with FMS, a mortgage software developer, in order to use its eSign solution for mortgages. In November 2019, neobank 86400 introduced its home loan product suite, which has been designed to reduce the time required to issue and… Read More

December 18, 2019 @ 8:28 am By Omar Faridi  |  

Coverhero, an Australia-based insurance technology (Insurtech) provider, revealed on December 17 that the launch of its first product, Hustle Cover, an “instant” and customizable income protection insurance product developed specifically for gig economy professionals. There are reportedly over 1.5 million Australian residents that are now… Read More

December 7, 2019 @ 9:21 am By Omar Faridi  |  

Australians are supporting a new technology that tracks energy use. The project has reportedly raised around half a million dollars in just days after its equity crowdfunding campaign was launched. Ecocentric, a digital transformation company, has acquired more than A$3.6 million from nearly 180 different… Read More

December 4, 2019 @ 2:06 pm By Samantha Hurst  |  

Australia Border Force (ABF) announced on Wednesday detectives from WA Police’s Forces Drug & Firearm Square – Meth Transport Team arrested two people for drugs (attempted importation of MDMA) and seized more than $1.5 million worth of cryptocurrency. The organization reported: “On Thursday 31 October… Read More

December 2, 2019 @ 8:24 pm By JD Alois  |  

Investment crowdfunding platform Birchal will launch secondary trading of CSF securities in 2020, according to a note from the company. Birchal is a leading “crowd-sourced funding (CSF)” platform in Australia. The new marketplace, announced today, will be called Birchal Trade. There has been a good… Read More

November 25, 2019 @ 4:44 pm By Omar Faridi  |  

Several digital banks have been launched in Australia during the past few years. However, these direct banks that are 100% digital currently face challenges around awareness and consumer trust. This, despite millions of customers being dissatisfied with traditional banking services, according to the latest research… Read More

November 25, 2019 @ 8:18 am By Omar Faridi  |  

Australia’s Senator Jane Hume has suggested that there’s significant potential for new international agreements to lead the nation’s Fintech companies into emerging financial markets. Hume pointed out that Australia’s present agreement with the UK to promote exports of Australia’s financial technology has not been used… Read More

November 21, 2019 @ 1:53 am By JD Alois  |  

Led by CEO Robert Bell and chaired by Anthony Thomson, digital bank 86 400 launched in September 2019 with transaction and savings accounts. Last week, 86 400 announced an entirely digital home loan offering said to be the first “smart alternative to how brokers currently… Read More

November 21, 2019 @ 12:42 am By Omar Faridi  |  

Sydney-based Tyro Payments, an Australian Fintech institution that specializes in merchant credit, debit and EFTPOS acquiring, submitted a prospectus on November 18 for conducting a local initial public offering (IPO) that aims to raise A$252.7 million (appr. $173.2 million). Founded in 2003 by Peter Haig,… Read More

November 13, 2019 @ 11:01 pm By Cali Haan  |  

More than 200 delegates representing police forces and regulatory bodies in Australia, the US, Singapore, and New Zealand are convening Nov 13-15 in Brisbane at the 2019 National Proceeds of Crime Conference. Present in force will be staff from Australia’s Taxation Office, Securities and Investment Commission,… Read More

November 8, 2019 @ 12:16 pm By Omar Faridi  |  

Auckland, New Zealand-based Harmoney, an online lending platform that connects borrowers with lenders, recently raised NZ$25 million ($15.8 million) through a Series C investment round led by two Australasia-based investors. Established in 2014, Harmoney has acquired funding from Australia-based private equity company Kirwood Capital and… Read More

November 7, 2019 @ 10:02 am By JD Alois  |  

DayTek Capital says it expects to launch a new digital bank “Infinity” in Australia by mid-2020. The company describes the forthcomin bank as “product disruptive,” without providing too many details. Additionally, DayTek reports the Australian government is assisting with the Fintech getting established as Trade… Read More

November 6, 2019 @ 9:21 pm By JD Alois  |  

The Australian Senate Select Committee on Financial Technology (Fintech) and Regulatory Technology (Regtech) has published an “Issues Paper outlining what it intends to review and report back to the Senate. The Committee was established in September 2019 and consists of six senators. The Fintech and… Read More

November 4, 2019 @ 7:30 am By Omar Faridi  |  

Sydney-based Westpac, one of Australia’s first banks and first companies, is reportedly planning to introduce a new digital banking platform in order to attract younger clients that may otherwise prefer opening accounts at neo banks. Westpac’s decision to launch a new digital brand was announced… Read More

November 2, 2019 @ 11:02 am By Cali Haan  |  

Chi-X, an Australian stock exchange that handles about 20% of the country’s trades, is concerned that a new cost-cutting blockchain registry, settlement and clearing system being developed by rival ASX will enhance the ASX’s market dominance over settlement, Reuters reports. Chi-X, a subsidiary of New-York-based… Read More

October 28, 2019 @ 1:04 pm By Cali Haan  |  

InfiniGold, a company “digitizing” gold reserves at the Perth Mint, has responded to Crowdfund Insider’s questions forwarded earlier this month regarding the companies’ plans to issue a Perth Mint Gold Token (PMGT) on the Ethereum blockchain. Andreas Ruf, CEO at Infinigold, began by describing both… Read More

October 25, 2019 @ 3:47 pm By Cali Haan  |  

The Perth Mint says  its project to offer gold-backed Perth Mint Gold Tokens (PMGT), “is paying early dividends with a surge in investors registering to trade gold on digital platforms.” The mint and partner Infinigold tout the offering as, “the first digital gold token on… Read More

October 22, 2019 @ 10:43 pm By JD Alois  |  

Mine Digital, a digital asset exchange, has launched in Australia. According to the company, the exchange is the first to launch with an Australian Financial Services License. The license allows Mine Digital to create markets in derivatives products including options and more. Mine Digital will… Read More

October 19, 2019 @ 2:12 pm By JD Alois  |  

For the fourth year in a row, EY Australia has partnered with Fintech Australia to publish a “census” on the status of the Fintech industry. The census is the result of a survey of 120 different Aussie Fintechs. In this year’s report, EY states that… Read More