London-based international money transfer platform TransferGo bags £4M
TransferGo has established itself as one of the most trusted money transfer services focusing on delivering, fast, reliable remittances.
Crypto car trading platform AutoCoinCars shows promising signs of growth
The UK’s first and largest crypto car trading platform AutoCoinCars witnesses tremendous growth and expansion of its operation in 2020.
UK digital bank Ziglu launches P2P payments for Bitcoin and Bitcoin Cash
London-based challenger bank Ziglu said Monday that it has been licensed as an Electronic Money Institution (EMI) by the U.K.’s FCA.
Crypto-friendly banking platform Cashaa expanding in India, US, Africa
Crypto-friendly banking platform Cashaa has unveiled its expansion plans, having raised $5 million from investment and advisory firm O1ex.
Sweden’s Central Bank lays out its plans for its digital currency
Stefan Ingves, the Governor of Sweden’s central bank, Sveriges Riksbank, has laid out his six-step plan for the introduction of is central bank digital currency. Part one of the plans is that both large value and retail payments must be settled in the central bank digital currency anywhere around the world, at any time, all year round. Part two, cross-currency and cross border payments must also be settled in the central bank digital currency at any time. Part three concerns what will constitute as legal tender if banknotes disappear tomorrow. Part four is the implementation in the digital world and securing the korona with AML regulations. Part five is a distinction between wholesale central bank […]
China passes cryptography law as it gears up for digital currency
China’s largely rubber stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported at the weekend. China’s central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply. China’s proposed new digital currency would bear some similarities to Facebook’s Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank official said last month. China’s cryptography law, which takes effect on January 1, is aimed […]
TransferWise expands in Middle East with Abu Dhabi license
TransferWise, the $3.5 billion financial technology start-up backed by investors including Peter Thiel and Richard Branson, is expanding its money transfer service in the Middle East. The company announced Tuesday it obtained a license as a Money Services Provider in Abu Dhabi. The license will allow users in the United Arab Emirates (UAE) to transfer funds in the local dirham currency, also referred to as AED, into accounts around the world through TransferWise’s platform. “Money transfers from AED have long been one of our most wished for currencies, so we always knew we’d begin our expansion into the Middle East in the Emirates,” Kristo Käärmann, CEO and co-founder of TransferWise, […]
Japanese fintech firm Digital Wallet acquires PH’s Speed Money Transfer
Digital Wallet Corporation (DWC), a Japan-based financial technology (fintech) company, announced today that it has acquired remittance and foreign exchange firm Speed Money Transfer Philippines (SMTP) for an undisclosed amount. SMTP, which operates in the Philippines and Australia, will be renamed as Digital Wallet Philippines following the acquisition. The deal and the name change have been approved by the country’s central bank, the Bangko Sentral ng Pilipinas (BSP). DWC’s acquisition of a Philippines-based remittance company comes as Filipinos working abroad remitted $2.88 billion in August, slightly higher than July’s $2.87-billion tally, according to data from the BSP. Of the total remittances in August, about $2.59 billion were sent through banks, […]
