Latest News on FINTECH

Industry

PayPal Will Give Jack Dorsey’s Square a Run for its Cryptocurrency

Payments giant PayPal looks set to roll out cryptocurrency sales services for its 305 million users.

Lucas Cacioli

Jun 23, 2020

| 2 Min Read

#BLOCKCHAIN #BITCOIN #PAYPAL #SQUARE #FINTECH #CRYPTOCURRENCY

CBDC:Americas

Fed Chair Powell Asserts Money Supply is for Central Banks not Private Sector

Federal Reserve Chairman Jerome Powell asserted that the private sector has no place in money issuance and by extension the development of a Central Bank Digital Currency (CBDC).

Lucas Cacioli

Jun 18, 2020

| 3 Min Read

#FEDERAL RESERVE #CBDC #DIGITAL DOLLAR #MONEY SUPPLY #ISSUANCE #DEVELOPMENT #JEROME POWELL #EMMER #PUBLIC #PRIVATE #FINTECH

Analysis

Fintech not Big Tech: Square is a Greater Threat to Banks than Google and Amazon

A recent survey of 300 senior executives at US-based mid-sized financial institutions found that more than half of bank and credit union executives view Big Tech companies like Amazon and Google as significant threats to the banking industry. Meanwhile only a third believe financial technology (fintech) firms will be a threat in the future, but are they sleeping on Square, Jack Dorsey’s financial technology venture whose stock price recently recorded a 20 month high.

Lucas Cacioli

Jun 09, 2020

| 3 Min Read

#BANKING #FINTECH #SQUARE #AMAZON #GOOGLE #PPP #LOANS #STIMULUS #BITCOIN #BITCOIN NEWS #UTILITY

Asia

Hong Kong Fintechs Embrace Blockchain and DLT

Blockchain firms make up nearly 40% of all new Hong Kong FinTech companies launched in 2019.

Lucas Cacioli

Jun 08, 2020

| 2 Min Read

#HONG KONG #HKSAR #FINTECH #BLOCKCHAIN #DLT #FTSB #TREASURY #ENTERPRISES #INDUSTRY

Industry

Western Union Makes Offer to Acquire Cross-Border Payments Firm MoneyGram

Financial giant, Western Union is in discussions to acquire cross-border payments company MoneyGram according to an anonymous source close to the deal.

Lucas Cacioli

Jun 02, 2020

| 2 Min Read

#WESTERN UNION #PAYMENTS #REMITTANCE #TRANSFER #MONEY #MONEYGRAM #FINTECH #ACQUISTION #PARTNERSHIP #CORONAVIRUS

Asia

China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.

Sarah Tran

May 14, 2020

| 2 Min Read

#CHINA #CENTRAL BANK #PBOC #FINANCE #TECHNOLOGY #FINTECH #BLOCKCHAIN #AI #XI JINPING #PRESIDENT XI JINPING

Interview

Digitization vs. Digitalization: FinFabrik CEO Explains Digitalization of Asset Investment in Private Markets

FinFabrik, a leading capital markets FinTech startup based in Hong Kong has recently launched a new Private Equity module on its proprietary DLT infrastructure that helps private markets institutions digitalize their operations. The platform named “CrossPool” rides on Corda Enterprise for transaction and contract management and Hyperledger Indy for identity management. With extensive experience in the financial industry and entrepreneurship, Alex Medana, the CEO of FinFabrik, talks about the core values of FinFabrik in the maturing DLT and FinTech industry and the firm’s digital assets issuance and investment platform CrossPool.

Sarah Tran

May 08, 2020

| 4 Min Read

#FINFABRIK #FINTECH #BLOCKCHAIN #DIGITIZATION #DIGITALIZATION #CROSSPOOL #DLT #TECHNOLOGY #CORONAVIRUS

Asia

Why Hong Kong is Still Not Ready to Become Asia's Leader in Crypto and Blockchain

During a live webinar, as part of the UK FinTech Week, Clara Chiu, the Head of Fintech Unit & Director of Licensing at the SFC explicitly stated that Hong Kong does not have the mandate to create a large regulatory regime for cryptocurrencies or to attract more investors or players in the crypto field. Rather than promoting the crypto sector, Hong Kong is rather focused on protecting investors and promoting new regulations for the same reason. Is focusing on licensing enough for the city?

Sarah Tran

Apr 29, 2020

| 4 Min Read

#HONG KONG #SFC #REGULATION #BLOCKCHAIN #CRYPTO #SINGAPORE #FINTECH

Analysis

World Bank Pushes to Raise the Bar for FinTech and DLT for Cross-Border Interoperability and Financial Inclusion

The World Bank Group has recently published a study, issued by the Bank for International Settlements (BIS) on “Payment aspects of financial inclusion in the FinTech era,” highlighting the concepts derived using blockchain, including stablecoins, and central bank digital currencies (CBDCs).

Sarah Tran

Apr 15, 2020

| 3 Min Read

#BIS #WORLD BANK #FINTECH #STABLECOIN #FACEBOOK #LIBRA #BLOCKCHAIN #DLT

Industry

FinTech Giants PayPal, Intuit and Square Capital Approved to Digitally Distribute US Govt COVID-19 Small Business Stimulus

PayPal, Square and Intuit have received the government’s approval to take part in the US Small Business Administration’s (SBA) Paycheck Protection Program which was established in response to the COVID-19 pandemic triggered global financial crisis.

Lucas Cacioli

Apr 14, 2020

| 3 Min Read

#FINTECH #CONGRESS #UNITED STATES #STIMULUS #COVID19 #ECONOMIC #RELIEF #SBA #PAYPAL #SQUARE #INTUIT #GFC

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