Blockchain prototype gives ASX confidence
Market operator ASX says its successful blockchain prototype has given it the confidence that it can develop a system that could eventually replace the trading platform that underpins the $2 trillion Australian market. While chief executive Dominic Stevens cautioned that he could only give a “two week view” having been appointed on August 1, the trials run on the prototype suggested that it could eventually handle the required volumes and make the market more efficient for regulators, ASX customers and other stakeholders. Further development will occur over the next 18 months with Digital Asset Holdings, the blockchain start-up run by former JPMorgan executive Blythe Masters. ASX owns 8.5 per cent […]
BPS Technology acquires Entertainment Publications
Leading channel enablement and payments platform provider BPS Technology Limited (“BPS”, “BPS Technology” or “the Company”) is pleased to announce the successful completion of its underwritten $27.5 million institutional placement. Net proceeds of the capital raising will be used to fund the transformative acquisition of Entertainment Publications Australia and New Zealand (“Entertainment” or “Entertainment Publications”), a leading B2C deals platform with 12,000 SMEs, 18,000 NFPs and 550,000 members, and for additional growth/working capital. The consideration for the Entertainment Publications acquisition is $22.5 million in cash and 2,659,574 in BPS shares. The combination of BPS and Entertainment brings together two proven, profitable and scalable businesses with significant growth potential. […]
zipMoney – User Experience
We here at Australian FinTech are mad mountain bike riders. So when one of us – me – decided it was time to buy a new bike, this time a road bike, I thought that instead of just walking in and paying cash or dumping it yet again on the credit card, why not utilise an Australian FinTech company to assist with the purchase, interest-free. And here are the reasons: We here at Australian FinTech wanted to see how these FinTech companies work, how easy it is and how they perform; how much effort it is to apply and get interest-free credit; how ingenious the technology is; we wanted to […]
CoAssets to crowdfund small and medium developers
Crowdfunding platform CoAssets plans to help financing small and medium-sized property developers who have been hit by tightening lending conditions, as it prepares to list on the Australian Securities Exchange this month. Founded in Singapore three years ago, CoAssets has grown to be the biggest crowdfunding player in Southeast Asia with more than 50,000 users. The company acts as an online platform to connect lenders to companies seeking alternative financing. The company, with its Australian base in Perth, sees a gap in the market with major banks tightening lending to developers, particularly smaller ones, executive director Dan Smith told The Australian. “We are starting to see numerous inquiries on a […]
A VC’s perspective on Blockchain opportunities & impacts on Australia
by Victor Jiang, Managing Partner, Sapien Ventures LLP. I was truly honoured to have presented to and judged alongside a distinguished panel (from ANZ, Westpac, UBS, & Northern Trust) and key industry leaders at the inaugural Australian Blockchain Summit 2016 (Melbourne June 28-30th, 2016), and to have a chance to speak about what we felt are the opportunities and impacts of Blockchain on Australia. (The speech was immediately before a pitch/showcase session of 6 excitingly disruptive blockchain startups from USA and Australia, including one dialling in from 3am in their local time!) __________________________________ I’m really excited and honoured to be here, speaking just ahead of some truly exciting startups in the blockchain space. […]
ASX Chooses Metamako
Metamako, the leading specialist in deterministic network devices for the world’s financial institutions, announced today that it has secured as a client the Australian Securities Exchange (ASX), one of the world’s leading financial market exchanges. The ASX will be using Metamako’s MetaMux for real-time monitoring of its new trading platform and for timestamping and time synchronisation of its internal network traffic. Dr. Dave Snowdon, founder and CTO of Metamako, said: “This is fantastic news for Metamako. To be at the heart of ASX’s network is a real recognition of the excellence of our devices. We have customers in the US, Asia and Europe, across HFT, automated trading, banking, ISVs, etc. […]
Fintech Kyckr scales back raising
Fintech business Kyckr has scaled back the size of its proposed initial public offering and increased the size of the free float to bankroll its global expansion plans. After initially proposing to raise between $6 million and $8m by floating on the ASX in June, Kyckr slowed down the listing process and will now raise a maximum of $6m and offer 35 per cent of the company to new external investors. “We have purposely slowed it down because we didn’t want to fall into a listing amid all the noise of the June-July period. There will be more clear air in the August period,’’ said managing director David Cassidy. “Time […]
ChimpChange new revenue generating product goes live
ChimpChange Limited (ASX: CCA) (“ChimpChange” or the “Company”) is pleased to announce it has launched into the market its photo cheque load tool. The photo cheque load tool is the first in a line of new product offerings being rolled out by the Company to complement its existing transactional banking account and debit MasterCard. While cheques are becoming rarer in the Australian banking environment the US banking system is still a cheque based economy. According to the World Payment Report, in 2013 cheques account for approximately 13% of all non-cash payments in North America (US$17 billion). The product allows customers the ability to take a photo of a cheque using […]
