Archive | FinTech

BitFury Group gets $30m investment from Credit China Fintech

January 30th, 2017 by

San Francisco blockchain tech provider BitFury Group received $30 million as investment from Hong Kong-listed fintech company Credit China Fintech. The deal includes an investment in BitFury shares and the establishment of a joint venture focusing on the Chinese market. The joint venture will be BitFury’s first major venture in China, and according to CNBC […]

Japan’s central bank to host Fintech Forum next month

January 27th, 2017 by

The Bank of Japan is going to host its third Fintech Forum on 28 February 2017, which will focus on blockchain technology. The invite-only event will be hosted at the Bank of Japan’s FinTech Center, founded last year as part of the institution’s push toward utilizing new technologies like blockchain. The event will focus on […]

BoE governor Mark Carney: Fintech poses risk to financial system

January 26th, 2017 by

Bank of England governor Mark Carney said that the fintech revolution poses significant risks to the stability of the financial services sector. Speaking at a conference in Germany organised by the country’s central bank, Carney said financial innovation could reduce costs and improve efficiency. But it could also pose risks to the stability of bank […]

Bank of Korea sees bigger role in fintech

January 24th, 2017 by

The Bank of Korea has said that non-financial companies will play a bigger role in the country’s financial sector with the continued growth of digital banking technology. “Nonfinancial institutions that have the technology will play a bigger role in business such as consumer banking, money transfers and transactions, investments and asset management that are currently […]

Blockchain partners with Dubai government for 2020 digitization

January 23rd, 2017 by

Blockchain has signed a partnership with the government of Dubai to help the municipality in its push to bring all government documents and transactions on a blockchain by 2020. Speaking at the World Economic Forum this week in Davos, Switzerland, Blockchain CEO Peter Smith also revealed plans for expanding the company to gain a presence […]

Central Bank of Russia creates new fintech group

January 18th, 2017 by

Central bank of Russia announced the creation of a new fintech group focused in part on the distributed ledger. Members of the new group include Alfa Bank, Sberbank, VTB, the National System of Payment Cards (NSPK) and Russian payment services provider Qiwi – which is already part of the international R3 blockchain consortium. The central […]

South Korea plans to launch full-scale blockchain financial services pilot

January 12th, 2017 by

South Korea’s Financial Services Commission (FSC) – the country’s primary financial regulatory and authority – have announced during a fintech meeting that it will launch a full-scale pilot project on blockchain-powered financial services this year. The announcement comes just over a month after the formation of South Korea’s first blockchain consortium. A group of 21 […]

Indonesia to regulate p2p fintech firms

January 12th, 2017 by

Otoritas Jasa Keuangan (OJK), a government agency, which regulates and supervises the financial services sector, has finally issued a regulation on fintech firms that run peer-to-peer lending businesses in Indonesia. The new regulation, POJK No. 77/2016, announced toward the end of December, is seen as an introductory move by the OJK to oversee the fintech […]

Iranian banker calls for bitcoin adoption

January 5th, 2017 by

The chief executive of Tejrat Bank has called for Iranian banks and payment service providers to prepare the grounds for using bitcoin in the country. The executive has also called for laying the groundwork to embrace and welcome bitcoin and fintech innovations in Iran. Speaking at a meeting on cryptocurrencies, Mohammad Ibrahim Moqaddam noted that […]

Spanish banking group BBVA acquires Mexican fintech startup Openpay

January 4th, 2017 by

BBVA has announced the acquisition of Openpay, a payments fintech startup based in Mexico that enables real-time payments for individuals, small businesses, and large enterprises. According to BBVA, Openpay combines a cutting-edge, real-time platform that allows users to make card, cash and loyalty points payments and banks transfers in a single integration. It also uses […]