PrimaryMarkets – First US Listing – Blockchain / Bitcoin
MEDIA RELEASE: PrimaryMarkets today announces its first US listing by offering for sale unlisted shares in one of the largest available exposures to the global blockchain / digital currency trade. PrimaryMarkets’ Members now have the opportunity to purchase a significant existing equity stake in this USA Company with a portfolio of more than 70 investments in 20 plus countries across early stage digital currency and blockchain investments, a bitcoin dealing desk and a digital currency fund management business. Existing investors include MasterCard, New York Life and Western Union. A newly appointed director of the Company is also a director of AT&T, NASDAQ and the Federal Reserve Bank of New York. […]
SocietyOne shifts from edgy start-up to $100m lender
The nation’s biggest peer-to-peer lender, SocietyOne, is growing up fast, and not in the same way as its renegade US cousin Lending Club. An ASIC search has revealed the stranglehold of the so-called media consortium (News Corp, Kerry Stokes and James Packer’s media-free Consolidated Press Holdings) over SocOne after the recent $25 million Series C capital raising. The consortium, through its vehicle S. One Holding, holds a commanding 37 per cent stake, with the News and Stokes interests believed to be dominant in the S. One Holding structure. Not only that, but Westpac’s in-house venture capital fund, Reinventure, speaks for a further 17 per cent of SocOne. Put the two […]
InvestmentLink developing real-time wealth management compliance product
Media Release – InvestmentLink, Australia’s largest independent financial data source, today said it is developing a real-time compliance product that will give financial advisers and dealer groups immediate and ongoing compliance reporting. The product, Halcyon, will draw on InvestmentLink’s unique data platform and external data sources to provide advisers with a tool to manage potential issues as they arise. InvestmentLink Chief Technology Officer Wayne Robinson said Halcyon will give advisers a complete and ongoing audit of client portfolios, and will do away with the need for onsite periodical or random auditing. “Not only does real-time reporting mitigate potential issues as they arise, it also does away with the […]
Xero Passes Quarter Billion Annualised Revenue
Managing to cash flow break-even with cash on hand Trillion dollars of transactions recorded on Xero platform in last 12 months Performance highlights (All figures in NZ$) Strong global revenue and subscriber growth Paid subscribers hit 717,000 globally, with 242,000 subscribers added in the 12 months to 31 March 2016 Annualised committed monthly revenue of $257.9 million, a year-on-year increase of 62% Operating revenues of $207.1 million, an increase of 67% on FY15 Global year-on-year revenue growth of 95% in international markets, and 57% in Australia and New Zealand Improvement in operating metrics Gross margin increased by 6 points year-on-year to 76% Net loss of $82.5 million for the year, […]
Birch gets your credit card rewards in order
Credit card reward programs can be confusing, and each can be totally different from the next. So managing all your points and rewards can quickly become a headache. Enter Birch, a service that helps users manage their rewards programs and points across multiple credit cards and accounts. Birch plugs into a bank account, looks at a user’s spending habits and recommends what kinds of cards they should sign up for, or how they should spend their money in order to maximize their point returns. For example, Birch might recommend that a user buys products with a specific card at a store like Macy’s in order to get the most points. […]
New study finds smaller banks have more tech-savvy customers
As the Big Four pour money into fintech, smaller regional banks have the tech adopters and trendsetters on their books already. Recent research by Roy Morgan has looked at banks that have a high proportion of customers that can be classified as “technology early adopters”. The banks with the highest proportion of these customers are likely to be smaller or regional banks, with one of the Big Four not even falling above the population average. These results are surprising, with the major banks having such a strong focus on fintech, also known as financial technology, in recent months. The bank with the highest proportion of early technology adopters among its […]
Blockchain is useful for a lot more than just Bitcoin
Blockchains can be used for a wide variety of applications, such as tracking ownership or the provenance of documents, digital assets, physical assets or voting rights. Blockchain technology is not just useful for creating digital currencies such as Bitcoin or developing new financial technologies. Blockchains can be used for a wide variety of applications, such as tracking ownership or the provenance of documents, digital assets, physical assets or voting rights. Blockchain technology was popularised by the Bitcoin digital currency system. But, essentially, a blockchain is just a special kind of database. The Bitcoin blockchain stores cryptographically signed records of financial transfers, but blockchain systems can store any kind of data. […]
Fintech floater convinced blockchain its future
David Cassidy, the managing director of Irish float hopeful KYCkr says blockchain is the future of its business identity check business. KYCkr is raising between $6 million and $8 million by floating between 30 million and 40 million shares at 20¢ each on the Australian Securities Exchange in June. This would give it a market capitalisation of between $25 million and $27 million. The funds will be used to market the business in Europe and Asia as well as move its systems to a blockchain, or distributed ledger. The company, which has direct links with government business registries around the world, verifies the business customers of banks and other companies […]
