Tagged: south africa

December 10, 2019 @ 2:35 am By Cali Haan  |  

South Africa’s Reserve Bank (Sarb) is drafting new rules to prevent cryptocurrencies from undermining currency controls in the country, IOL reports. The rules will come into effect in the first quarter of 2020, Sarb deputy governor Kuben Naidoo told journalists last week. South Africa’s financial… Read More

November 29, 2019 @ 12:37 pm By Cali Haan  |  

As of March 2020, “Top Four” South African Bank FNB will no longer provide business banking to, “(cryptocurrency) trading platforms and intermediaries that trade in digital money,” City Press reports. Affected entities include crypto exchanges Luno, VALR, ICE3X and their intermediaries. “Our decision was made after… Read More

November 20, 2019 @ 8:25 am By JD Alois  |  

FirstRand Bank (FRB) in South Africa is shuttering accounts affiliated with cryptocurrency exchanges, according to a report in MyBroadband. Quoting a letter seen by the publication, the justification is due to associated risk regarding these exchanges: FirstRand Bank has been considering its risk appetite in… 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

January 22, 2019 @ 9:50 pm By Cali Haan  |  

Police in South Africa have arrested suspects believed to be behind the kidnapping of a 13-year-old boy from Witbank and the attempted kidnapping of a 13-year-old girl from Middelburg, Times Live reports. The boy was reportedly kidnapped “in broad daylight” close to his home on… Read More

January 17, 2019 @ 12:19 pm By Cali Haan  |  

Authorities responsible for regulating finance, banking and taxation in South Africa have issued a consultation paper stating that regulation of the cryptocurrency/digital token sector should be enacted forthwith and adjusted to accommodate innovation later: “The IFWG and Crypto Assets Regulatory Working Group is of the… Read More

December 5, 2018 @ 1:15 am By Cali Haan  |  

A South African Bitcoin trader is recovering in intensive care following his abduction and torture by bandits who allegedly robbed him of almost $66 000 USD in Bitcoin and cash. According to Soweto Urban, the man agreed to do a talk on cryptocurrency for a… Read More

September 19, 2018 @ 8:14 pm By Cali Haan  |  

A South African businessperson kidnapped two months ago was returned safely to his family this week amid rumours that captors demanded a ransom of 50 Bitcoins for his release. According to The South African, Liyaqat Parker, 65, was kidnapped from the parking garage under his workplace… Read More

August 22, 2018 @ 7:20 am By Cali Haan  |  

The commissioner of the South African Revenue Service (SARS) told attendees at an auditors’ conference in Sandton this week that SARS is stepping up efforts to identify crypto traders and collect related taxes, FIN24 reports. “The key thing is identifying people who are trading because… Read More

August 2, 2018 @ 4:00 pm By Samantha Hurst  |  

Absa, a South Africa-based financial services group, announced this week it has teamed up with Samsung South Africa to offer customers early access to Samsung Pay before the service is commercially launched in South Africa.  Arrie Rautenbach, CE of Absa Retail and Business Banking stated that… Read More

August 1, 2018 @ 9:12 am By Samantha Hurst  |  

Wirecard, a Germany-based global provider of digital payments and commerce solutions, announced on Wednesday it has launched of its digital payment product, secureEFT, in South Africa. According to Wirecard, secureEFT is an instant electronic funds transfer payment service that allows customers to make secure online… Read More

April 12, 2018 @ 9:15 pm By Samantha Hurst  |  

Vio Digital, a South Africa-based fintech startup, announced on Thursday it is launching a new blockchain-based money transfer app to make it easier for customers to transfer money from person to person anywhere in the world. The company reports that across Africa, remittance solutions are typically… Read More

March 30, 2018 @ 3:00 pm By Samantha Hurst  |  

Fo-Sho, a South Africa-based insurance company and Startupbootcamp accelerator participant, announced this week it is planning to expand its insurtech product services in the region. Founded in 2016, Fo-sho describes itself as a South African insurtech startup that is powered by “cool” technology and using innovative… Read More

March 7, 2018 @ 3:37 pm By Samantha Hurst  |  

Entersekt, a South African-based fintech, announced this week it is launching a digital payments enablement product, Connekt, which will add new payment services to banking apps notably quickly and easily. According to the company, Connekt helps financial institutions resolve this quandary. It puts at their disposal… Read More

November 20, 2017 @ 11:50 am By Samantha Hurst  |  

South African crowdfunding platform BackaBuddy recently announced its campaign has successfully raised a total of R50 million since its launch from more than 70,000 donors. Founded in 2007, BackaBuddy revealed that its online fundraising functionality is designed to help individuals raise funds for causes they… Read More

September 2, 2017 @ 4:00 pm By Xu Gao  |  

Regulators in China are Said to Plan a Blanket Ban on Initial Coin Offerings In response of the ICO craze, regulators in China including PBC, CSRC and NIFA have held several internal meetings to discuss the best approach to regulate this emerging token creation events…. Read More

May 12, 2016 @ 11:17 am By Erin Hobey  |  

Envestnet | Yodlee (NYSE: ENV), the data aggregation and data analytics platform powering cloud-based innovation for digital financial services, today announced a strategic partnership with AlphaCode, a collaborative club for next generation financial services entrepreneurs in South Africa. “The fintech landscape, combined with Africa’s entrepreneurial spirit,… Read More

January 26, 2016 @ 10:56 am By Erin Hobey  |  

Deloitte Digital (Africa) acquired the fintech services business Jinja Interactive, according to IT Online. The acquisition of Cape Town-based Jinja Interactive will boost Deloitte Digital’s growing value chain of digital expertise, particularly in digital financial services and fintech innovation.   “We’re very happy to have the… Read More

October 21, 2015 @ 12:54 pm By Samantha Hurst  |  

Bondora, a pan-European marketplace lender, opens to accredited investors from the United States, Canada, Mexico, Brazil, South Africa, India, Hong Kong, Singapore, Japan and Australia. The platform now allows global accredited investors to invest directly into personal unsecured loans across three European markets including Spain,… Read More

August 4, 2015 @ 12:18 pm By JD Alois  |  

Scott Picken is based in South Africa but he clearly thinks big when considering the addressable market for his real estate crowdfunding platform Wealth Migrate. It is his opinion that banking, insurance, real estate – basically all aspects of finance –  will be revolutionized by… Read More