Fidelity fully rolls out cryptocurrency custody services
Fidelity, the Boston-based financial services firm with $2.8 trillion USD under management, is fully rolling out its cryptocurrency custody service after launching in fall 2018 and adding some clients in a limited capacity at the beginning of 2019. Abigail Johnson, CEO of Fidelity, highlighted that this move makes a difference for everyday non-technical customers that want to invest their money in digital currency regardless. She also addressed how their custody service helps individuals figure out how to pass on their cryptocurrency assets after they die and/or dealing with lost USB drives, saying that individuals have “got to have a plan to be able to get those coins to somebody else”. […]
How Crowdfunding is becoming regular investing
A decade ago, an entrepreneur wanting to raise cash pretty much had to have rich relatives or pals, or gain entry into the clubby world of venture capital. Sure, that entrepreneur could take it to the web, asking people to make their own relatively small investments, but that was considered less than respectable – the digital version, perhaps, of panhandling. My, how much has changed since 2009. Now crowdsourcing is not only the hip way to raise money, but is pretty much expected to be part of the overall fundraising process. And one person who has helped in that shift is Jeff Kelisky, CEO of Seedrs, a crowdsourcing platform where new businesses […]
University of Malta offers a Master’s degree in blockchain
The University of Malta now offers a master’s degree in blockchain. The “Blockchain and Distributed Ledger Technology” course, which accepted its first cohort this month, is a multi-disciplinary degree offered by the University’s Centre for Distributed Technologies. It costs 13,400 euros a year, and lasts three semesters. The master’s degree, which is offered on a full-time or part-time basis, will, according to a prospectus, arm people from different industries with a multi-disciplinary approach to crypto. “Programmers will require knowledge of regulatory and legal frameworks within which smart contracts are being proposed, and similarly lawyers would be required to understand obligations laid out within smart contracts,” reads the prospectus. To read […]
London Fintech Yordex adds smart cards to suite of software
UK fintech Yordex is making it simple for fast-growing companies to control business spend by adding company cards to its smart spend management solution, giving businesses complete visibility and authority over their current and future finances. Expense management currently takes up a disproportionate amount of time and money within most organisations; on average, it costs in excess of $20 in people power to process every invoice or expense claim, while expenses only account for less than 6% of total company spend. In addition, firms struggle to get a real-time picture of their financial health, as their existing software platform only provide a historical view of spend. It takes an average […]
Fintech startups: why Bulgaria is a hotbed for financial software development
With more than 60 financial technology companies, half of which have been established in the past three years, Bulgaria is becoming a leading center for new financial technology companies in the south-east of Europe. The growth of the sector has been rapid. Last year, Bulgarian fintech companies realized a turnover of 212 M € (234 M $). Their net income has more than doubled compared to 2017. According to some information, operating income should exceed € 300 million ($ 331 million) in 2019. While the success of the fintech industry has many reasons, its ecosystem is characterized by its ecosystem of resources. According to Gergana Stoitchkova, Director of the Bulgarian […]
Cambodia’s Central Bank tests out digital wallet to reduce cross-border payment fees
Cambodia’s Central Bank wants to curtail the cost of cross-border payments and is examining its in-house digital wallet, the Hyperledger Iroha-powered Bakong. Last week, the National Bank of Cambodia (NBC) signed an agreement with Malaysia’s Maybank. The banks will work together to cut down the remittance fees of their respective digital payment platforms – Bakong and Maybank2u. H.E. Chea Serey, Cambodia’s chief central banker, told the Khmer Times that the remittance fees can range as high as 30%. Chea Serey also stated that the partnership can reduce the fees. He said: “The introduction of Bakong system will provide more possibilities in enhancing payment system at both domestic and regional level” […]
China’s cryptocurrency plan has a powerful partner: Big Brother
When Facebook announced plans this year for a cryptocurrency called Libra, it said its goal was to reinvent money for the internet age. What the company probably didn’t imagine was that its efforts might spur China to get there first. China wants to start replacing the cash that people carry with a digital currency soon, a long-discussed project that went into overdrive after Libra was unveiled in June. Facebook has been fighting to defend its initiative against skeptical regulators, and key corporate partners have pulled out of the project. But Beijing’s ambitions appear to be moving ahead at full speed. The system emerging in China looks very different from bitcoin […]
UK pumps £10 million into the Kenyan Fintech scene as it aims to increase financial inclusion for low-income and underserved consumers through technology
The Lord Mayor of the City of London Peter Estlin, on Thursday announced £10 million (Sh1.154 billion) of UK Aid support towards the Catalyst Fund during a visit to Nairobi. His visit comes ahead of the first UK-Africa Investment Summit next year, which will bring together businesses, governments and international institutions to encourage investment in a range of sectors, including fintech. The Catalyst Fund supports business development and investor opportunities for early stage fintech companies in emerging markets. With support from the UK Department for International Development, the Catalyst Fund will help connect a further 30 local fintech companies with international investors and mentors, including Kenyan fintech companies. “Today’s announcement […]
