Crypto News 

Singapore, Bitcoin-Friendly Philippines Aim for Blockchain Cross-Border Payments

“The central banks of the Philippines and Singapore have forged a FinTech agreement that could result in cross-border payments over a blockchain between their markets” writes unknown author for cryptocoinsnews.com. Establishing blockchain payment rails between the two countries would mean a significant state endorsement to the financial technology that underpins cryptocurrencies like bitcoin.Notably, the central banks will also undertake joint projects in the industry, which could include using blockchain technology to facilitate ‘faster cross-border payments and streamlining “know-your-client” (KYC) processes, the announcement revealed. Source: cryptocoinsnews.com Share This:

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Crypto Markets News 

UK FinTech to Launch a Bitcoin Visa Debit Card with Support for Altcoins

“Future plans with the fintech company include launching a sterling-to-cryptocurrency exchange in addition to a Visa prepaid debit card, called the Dragoncard, reports Business Insider” writes unknown author for cryptocoinsnews.com. Through this users will be able to then purchase the available digital currencies via the LBX exchange.LBX is planning to add more digital currencies in the future.Users of the platform will be charged 0.5 percent for buying and selling digital currencies whereas the Dragoncard has an up-front fee of £20. Source: cryptocoinsnews.com Share This:

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‘Stop trying to think of this as a women’s issue’: Female fintech leaders call for more action on diversity

“A “fintech census” carried out by EY and Innovate Finance in September found women represent just 29% of staff in the sector” writes Oscar Williams-grut for businessinsider.com. LONDON — Trade body Innovate Finance has published its annual list of women in fintech, aiming to give role models to young women thinking of entering the sector.When you look at statistics of women in fintech — it’s not there yet. Source: businessinsider.com Share This:

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Governments need to take their hands off of fintech if they want it to grow, minister says

“Singapore’s central bank, the Monetary Authority of Singapore, also launched a fintech regulatory sandbox last year” writes Rohini Samtani for cnbc.com. Switzerland, for one, has introduced a so-called regulatory sandbox, within which small fintech firms can play without regulation.Switzerland also offers a tailor-made fintech license, which is far less taxing on small firms compared to a banking license.In order for financial technology to grow, some countries are giving firms freedom to experiment, lifting the burdens of tight regulation.And once they grow out of that sandbox, the regulation will be according…

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African fintech firms ‘complement’ the banking sector, don’t disrupt it: Exec at Egypt’s largest private bank

“Financial technology firms in Africa are “complementing” the banking sector rather than disrupting it, an executive at Egypt’s biggest private-sector bank has said” writes Ryan Browne for cnbc.com. Egypt has been making its own efforts toward increasing financial inclusion, CIB’s Al-Arab said, adding that the country’s central bank has established its own financial inclusion unit to address the issue.But Al-Arab went a step further to say that he thought fintech firms were not disruptive to the financial services.”Fintechs in Africa generally are not disrupting the existing model but, in fact,…

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Payments Apps In The Context Of The Enterprise At Large

“Instead, Beique said, enterprise app developers are now forced to rethink their positions in the market and their roles within the enterprise altogether” reports pymnts.com. That realization has led many app developers to begin focusing on integrations, enabling their solutions, via APIs or other means, to communicate with other apps. Today, he said, a payments processor or any enterprise app developer can no longer develop a solution independently. “You must say, ‘How does this fit into the context of everything?’” said Beique.Plus, he added, the deeper App A integrates into…

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AUD News 

Australia and UK “Concluding Negotiations” for New FinTech Deal

“A highly favorable regulatory environment that has championed financial technologies like blockchain has also seen London regarded the FinTech capital of the world” writes unknown author for cryptocoinsnews.com. Speaking at a global trade conference last week, Australia’s high commissioner to the UK Alexander Downer reportedly stated that the two countries “are in the process of concluding negotiations on fintech”, a move that will boost Australia with direct ties to one of Britain’s fastest-growing industries. Source: cryptocoinsnews.com Share This:

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Crypto News 

Start-up R3 has more than 50 firms using its blockchain platform, including Microsoft and Intel

“Start-up R3 now has more than 50 companies, including the likes of Microsoft and Intel, actively using its blockchain platform” writes Ryan Browne for cnbc.com. The financial technology (fintech) company said Monday that dozens of firms are engaging with its open source distributed database network Corda.Blockchain, one of the fastest growing technologies around, is seeing increasing interest from big tech and financial multinationals alike.Also known as distributed ledger technology, blockchain allows vast amounts of data to be stored across a network of computers around the world rather than on one…

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Fintech start-up Revolut aims to become a bank as it applies for European license

“Financial technology (fintech) start-up Revolut is seeking to obtain a European banking license, and aims to expand its app-based bank to new markets” writes Ryan Browne for cnbc.com. The London, U.K.-based firm is currently a financial services firm but is hoping to obtain a formal banking license in the region so it can offer more to its customers. The business said it had been in talks with Lithuania’s central bank to prepare ahead of its EU license application.As incoming European rules force banks to open up their customer data to…

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AUD News 

China and Australia ink fintech deal to share information on new trends

“China and Australia’s regulators have agreed to partner up on financial technology (fintech), a move that will give them oversight on new trends in each other’s markets” writes Ryan Browne for cnbc.com. The Australian Securities and Investment Commission (ASIC) and China Securities Regulatory Commission (CSRC) said Monday that they would cooperate on the sharing of information related to emerging themes in the fintech sector.”Cooperation between regulators is essential to realize the benefits of the technological revolution,” Greg Medcraft, chairman of the ASIC, said in a statement Monday. Source: cnbc.com Share This:

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