Tagged: bafin

German Financial Reporting Enforcement Panel Defends Actions in Wirecard Collapse

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

Collateral Damage: German Government Terminates Relationship with the Financial Reporting Enforcement Panel

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

House of Cards: Wirecard Management Says Ability to Continue as a Going Concern is Not Assured

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

Wirecard Bankrupt – Once High Flying Fintech Files for Insolvency Over Missing €1.9 Billion

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

Former Wirecard CEO Markus Braun Arrested as Scandal Regarding Missing €1.9 Billion Raises More Questions

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

Germany Securities Regulator BaFin Calls Wirecard a Disaster – Report

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

ETC Group Introduces Very First “Centrally Cleared” Bitcoin Exchange-Traded Product on Deutsche Börse’s Xetra

  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

Germany-based Black Manta Capital Partners Teams Up with Finoa to Offer Custody Solutions for Security Tokens to Institutional Clients

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

STOs: Black Manta Capital Introduces $12 Million Real Estate Security Token Offering for Regular Investors

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

BaFin, Germany’s Financial Regulator, Suspends Operations of Crypto Firm, which Allowed Users to Buy and Sell Digital Currencies via ATMs

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

BaFin, Germany’s Financial Supervisory Authority, Clarifies How New Digital Assets Law Applies to Firms Operating Outside of the Country

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

Bitbond Leverages Digital Asset Experience to Expand into Real Estate in Partnership with KlickOwn

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

Karatbars International GmbH is “Not Authorized to Render Any Financial Advice and Intermediary Services”, South Africa’s Financial Regulator Warns

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

Germany: Huge Real Estate Developer Bauwens Group Invests in Security Token Issuance Platform Fundament Group

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

Germany First: Fundament Approved by BaFin for Blockchain based €250 Million Real Estate Bond

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

Germany: BaFin Approves Next Security Token Offering as StartMark Seeks €50 Million

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

Bitbond Closes BaFin Approved Security Token Offering: Investors from 87 Different Countries Participated

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

Bitbond, a Fintech Lender and Security Token Issuer, Looks to Partner with Gibraltar Stock Exchange

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

N26 Addresses BaFin Order About Money Laundering & Financial Failures

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

Investigation Questions the Nature and Soundness of Wirecard Asian Partnerships

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

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