Tagged: bafin

July 1, 2020 @ 5:10 pm By JD Alois  |  

The German Financial Reporting Enforcement Panel or Deutsche Prüfstelle für Rechnungslegung (DPR) has issued a statement defending its actions in the ongoing Wirecard (WPI:DE) scandal. It was recently reported that the German government had terminated its contract with the DRP, private entity contracted by the… Read More

June 28, 2020 @ 5:01 pm By JD Alois  |  

The German government has terminated a relationship with the Financial Reporting Enforcement Panel or “Deutsche Prüfstelle für Rechnungslegung” (DPR) in the wake of the fallout of the Wirecard (WDI:DE) scandal, according to a report in the Suddeutsche Zeitung. The DPR is an entity that has… Read More

June 26, 2020 @ 8:10 am By JD Alois  |  

Yesterday, it was reported that Wirecard AG (WDI:DE) had initiated bankruptcy proceedings as the company attempted to stave off a complete financial collapse created by a misplaced amount of funds totaling around €1.9 billion. Allegations of profound actions of fraud immediately followed as the former… Read More

June 25, 2020 @ 7:35 am By JD Alois  |  

Wirecard (WDI.DE) has filed for insolvency following a report €1.9 Billion had gone missing. Shares in Wirecard collapsed on the news trading at around €2.50 a share. It was only last week that shares in Wirecard traded at over €100 a share. Wirecard joined the… Read More

June 23, 2020 @ 8:33 am By JD Alois  |  

Markus Braun, former CEO of Wirecard (WDI:DE) has been arrested by Munich authorities according to multiple reports. Braun apparently turned himself into local police as the Fintech attempts to unravel what exactly happened to the missing €1.9 billion. Last week, Wirecard halted a scheduled financial… Read More

June 22, 2020 @ 11:33 am By JD Alois  |  

Earlier today, it was reported that Wirecard’s (WDI.DE) missing €1.9 billion may have never existed at all. Last week, the payments Fintech revealed in a statement that during an audit questions emerged regarding the funds with the auditor intimating it was under the belief there… Read More

June 10, 2020 @ 11:07 am By Omar Faridi  |  

  The ETC Group, a company established by experienced financial services professionals, announced on June 9, 2020 that they will be listing the world’s first “centrally cleared” Bitcoin ETC, BTCetc Bitcoin Exchange Traded Crypto – (BTCE) on Deutsche Börse’s XETRA platform. As noted in a… Read More

May 5, 2020 @ 12:25 pm By Omar Faridi  |  

Germany-based Black Manta Capital Partners, a security token offering (STO) platform, has teamed up with Finoa, a digital asset custody firm, in order to offer custody solutions for security tokens to institutional clients. Both companies aim to work together to create a compliant security token… Read More

April 15, 2020 @ 10:45 pm By Omar Faridi  |  

Germany-based Black Manta Capital Partners has introduced a $12 million security token offering (STO) for the Berlin real estate market. The initiative is reportedly a collaboration with Tigris Immobilien, a German real estate company. Approximately 2000 sq meters of real estate property, which mainly consists… Read More

March 7, 2020 @ 6:40 pm By Omar Faridi  |  

The Federal Financial Supervisory Authority of Germany (BaFin), the nation’s financial regulator, is suspending the operations of a firm known as KKT UG from Berlin, which allowed users to purchase and sell digital currencies via ATMs. As BaFin noted on March 4, 2020, Adam Gramowski,… Read More

February 9, 2020 @ 3:08 am By Omar Faridi  |  

BaFin, Germany’s financial supervisory authority, recently clarified how the leading European nation’s new crypto-asset custody law would apply to companies that are operating outside of the country, yet still serve local markets. BaFin’s latest guidance, published last month, notes that firms which are currently custodying… Read More

December 12, 2019 @ 4:34 pm By JD Alois  |  

Bitbond, a Berlin-based online lender and trailblazer in the digital asset sector, is leveraging its experience in issuing blockchain-based bonds to move into real estate. According to a note from Bitbond, the investment platform has formed a partnership with KlickOwn, a property investment platform. Bitbond… Read More

November 18, 2019 @ 11:30 am By Omar Faridi  |  

South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), has issued a warning against Karatbars International GmbH, a German company that has been promoting a digital currency, called KaratGold Coin, which is allegedly backed by gold. According to FSCA’s release: “Karatbars International GmbH is… Read More

October 9, 2019 @ 8:46 am By JD Alois  |  

Huge German real estate developer, Bauwens Group, has invested in security token issuance platform Fundament Group ostensibly with the intent of issuing digital assets backed by real estate. Details on the investment were not disclosed. Bauwans Group has an estimated €6.7 billion in managed project… Read More

July 23, 2019 @ 9:44 am By JD Alois  |  

Germany is on a bit of a securities token roll. Yesterday, Crowdfund Insider covered the launch of a blockchain-based investment platform for early-stage companies that has received regulatory approval. Today, the Fundament Group has announced a €250 Million blockchain-based real estate bond – blessed by… Read More

July 22, 2019 @ 10:08 am By JD Alois  |  

Germany’s security regulator the Federal Financial Supervisory Authority (BaFin) has approved the prospectus of StartMark to pursue a security token offering (STO). The approval was received on July 15. This will be the 2nd STO receiving the blessing of BaFin as Bitbond recently became the… Read More

July 9, 2019 @ 7:48 am By JD Alois  |  

Bitbond’s security token offering (STO) closed yesterday raising over €2.1 million. The Bitbond Token was the first issuer to receive approval of a prospectus by Germany’s security regulator – BaFin. The STO was opened to the public in March of 2019. Bitbond has been regulated… Read More

July 6, 2019 @ 5:34 pm By JD Alois  |  

Bitbond, an online lender that is in the midst of a security token offering (STO), is in discussions with the Gibraltar Stock Exchange (GSX). Bitbond manages a lending platform that describes itself as “the first cryptocurrency based lending platform for business loans that operates globally…. Read More

May 22, 2019 @ 3:11 pm By Samantha Hurst  |  

On Tuesday, the Federal Financial Supervisory Authority (BaFin), Germany’s supervisor of banks, financial services providers, insurance undertakings, and securities trading, reportedly published an order for N26 to remove backlogs in IT monitoring in order establish process descriptions and workflows in writing. In response to the… Read More

April 7, 2019 @ 8:13 pm By Cali Haan  |  

An on-the-ground investigation by London news outlet Financial Times has shown that several payment referral partnerships maintained by German payments giant Wirecard in the Philippines are either insubstantial or dubious. On Friday, it was revealed that a top accounting executive with the firm had departed…. Read More