Tagged: iceland

Icelandic Neobank indó Selects Lucinity for Financial Crime Prevention

indó, an Icelandic mobile first advanced neo-bank, has selected Lucinity as its AML compliance software, including its Transaction Monitoring and Case Manager solutions. Established in 2018, indó claims it is “the first neobank to operate in Iceland.” It was created “to restore faith in the… Read More

Iceland’s Telecom Síminn Expands into Payments via Enfuce’s Card as a Service

Síminn Pay, the “pioneering” fintech subsidiary of Iceland’s largest telco provider Síminn, has partnered with Enfuce, the European “leader” in providing turnkey card issuing, “to launch virtual credit cards tailored for Síminn Pay’s lifestyle app, enabling users to make seamless payments.” Founded in 2016, Síminn… Read More

Iceland based Challenger Bank indó Acquires $4.5M in Seed Funding

indó, an Icelandic Fintech focused on the consumer virtual banking space, has announced that it is emerging from stealth mode with $4.5 million in seed funding. indó is reportedly the first challenger bank to launch in Iceland. The motivation behind indó was the 2008 financial… Read More

Open Banking Fintech Salt Edges Teams Up with Landsbankinn, the Largest Icelandic Bank

Landsbankinn, which is one of the largest Icelandic banks, has teamed up with Salt Edge, a provider of Open Banking services. Through their partnership, the organizations will focus on  complying with Icelandic law on the latest PSD2 legislation. The Act on Payment Services, which incorporates… Read More

The Central Bank of Iceland Partners with SIA on Payment Platform

The Central Bank of Iceland (CBI) and SIA, a technology infrastructure and service provider for financial institutions, has launched a new real-time gross settlement system (RTGS) and a new instant payment platform. CBI is a public institution operating under the auspices of the Prime Minister…. Read More

Iceland-Based SaaS Platform GRID Raises $12 Million Through Series A Funding Round Led By New Enterprise Associates

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GRID, an Iceland-based  Software-as-a-Service (SaaS) platform, announced on Wednesday it raised $12 million through its Series A funding round, which was led by New Enterprise Associates (NEA), with participation from existing investors BlueYard Capital, Slack Fund, Acequia Capital and other strategic partners. Founded in 2018,… Read More

Regtech Firms Lucinity, Hummingbird Secure Millions in Funding, will Further Develop AML Tech to Prevent Financial Crimes

Lucinity, an AML software developer established by a compliance professional who previously worked at Citigroup, has acquired $6.1 million in capital. Meanwhile, Regtech company Hummingbird, which is also an anti-money laundering software developer, has finalized an $8.2 million Series A investment round. Lucinity’s recent round… Read More

Licensed E-Money Institution Monerium to Issue E-Money on the Algorand protocol

Monerium, a licensed e-money issuer will be utilizing the Algorand blockchain protocol to provide fiat currency transactions, according to a company release. Monerium is registered in Iceland and is authorized by the Financial Supervisory Authority of Iceland. The company received regulatory approval last June. The… Read More

PaySafeCard Announces Launch in Iceland

PaySafeCard, an Austria-based fintech that is part of the Paysafe Group, announced on Tuesday its services are now available in Iceland. The company launched in the country with its sales partner, Basko verslanir. While sharing more details about the launch, Udo Müller, CEO of Paysafecard, stated:… Read More

US Fintech Ripple Expands Operations into Iceland By Acquiring Crypto Trading Firm Algrim

San Francisco-based Fintech firm Ripple has acquired digital asset trading company Algrim. The acquisition has helped Ripple add six engineers, according to a September 30 blog post published on the company’s official website. The new team of engineers is expected to play a key role… Read More

Feeling the Heat: Bitcoin Mining Adversely Impacting Iceland Terrain, Environmentalists Say

Cheap hydroelectric and geothermal power, cooler temperatures and a relatively stable business environment have drawn droves of cryptocurrency mining firms to Iceland over the past few years. Abandoned industrial sites, fish factories, and even barns have been commandeered for the mining of Bitcoins and other… Read More

Mid-Size Chinese Cryptominers Weathering Risks to Access Cheap Power in Iran

In the wake of increasing Chinese state reticence towards a once supported industry, the biggest Chinese crypto mining firms have been steadily expanding or relocating to Canada, the US and Iceland, Chinese crypto news outlet 8BTC reports. But small and mid-size Chinese crypto miners have… Read More

Six Alleged Bitcoin Mining Equipment Thieves Convicted in Iceland

Seven men police believe conspired to rob multiple Bitcoin “mines” in Iceland have been convicted, and their leader sentenced to 4.5 years in prison, Icelandic news outlet DV reports. Starting in December 2017, and for several weeks thereafter, six men led by Sindri Thor Steffanson allegedly robbed… Read More

Iceland Fintech Startup Monerium Secures $2 Million Through Latest Seed Round to Issue E-Money On Blockchains

Iceland-based fintech startup Monerium announced on Friday it secured $2 million through its latest seed funding round led by the Nordic VC fund, Crowberry Capital, with the participation of NY-based blockchain software technology company, ConsenSys, and Hof Holdings. The funds from the round will be used to issue… Read More

Enterprising Iceland Crypto Miner is Recycling Mining Energy as Heat

A woman running small crypto mining operations in the southern Iceland district of Reykjanes is using the energy her machines consume to heat storage spaces she rents from local farmers, Wired reports. Krista Hannesdóttir, a math teacher by day, started crypto mining in a former… Read More

Charges Laid in Notorious Iceland Bitcoin-Mine Robbery Cases

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Seven suspects have been charged with various crimes related to a series of high-profile equipment thefts from Bitcoin mines in Iceland last year, Modern Consensus reports. The thefts came to the attention of industry aficionados in December last year, but became widely reported internationally in… Read More

Dutch Fintech Five Degrees Announces Acquisition of Iceland-based Core Banking IT Systems Provider Libra

Five Degrees, a Netherlands-based fintech, announced on Thursday it has acquired Libra, a provider of core banking IT systems in the financial sector in Iceland. Five Degrees reported that the acquisition boosts its international growth ambitions, enabling the company to offer its full-service proposition of… Read More

Feature Film “BOKEH” Hits Kickstarter, Raises Over $10,000 During First Day

Director, writer, and producer Andrew Sullivan has launched a Kickstarter crowdfunding campaign on Tuesday (July 29th) to raise $30,000 for his new feature film BOKEH. Within hours of its debut on the crowdfunding giant’s platform, the project raised $10,390 from close to 125 backers. According… Read More

Crowdfunding Mailbox: Kahda Cool Stuff, Kúla Deeper 3D Images, Kapture Recording Wristband

This week we had tons of cool stuff come in.  I am still going through the pile of emails (and one real post card) from all the amazing crowdfunders from around the world.  I really love ready about incredible people coming up with unique ideas… Read More

Encrypted E-Mail Client Mailpile Fully Funded On Indiegogo

A small development team from Reykjavík, Iceland has raised over $100,000 on Indiegogo for Mailpile, an encrypted email client. Edward Snowden’s recent leaks were a wake-up call, confirming what many had long suspected, that the troves of e-mail stored on our behalf by Google, Microsoft and… Read More

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