Privacy fix for blockchain from Blythe Masters
Blockchain could finally drag Wall Street recordkeeping into the 21st century, but before they’ll use it financial firms want to know their data will be kept secret. The startup run by former JPMorgan Chase & Co banker Blythe Masters says it’s found a solution. The version of blockchain that powers the bitcoin currency is wildly transparent, recording each transfer of bitcoin from one person to another in a public database anyone can tap into. But such openness is anathema in finance, posing a conundrum for Wall Street firms otherwise drawn to digital ledgers because they could simplify and speed up recordkeeping. Digital Asset Holdings, where Masters is chief executive officer, […]
Telepin Software powers Valyou Mobile Wallet in Malaysia
Unique mobile financial services platform delivers affordable, convenient mobile money solutions to under-banked market. Telepin Software, a global leader in mobile money transaction platforms, announces that it is now powering the mobile financial services for Valyou, a Malaysian-based licensed money services business that provides multi-country international remittance services. The Valyou mobile wallet is an easy, secure way to store and manage cash from a mobile device; a convenient e-money solution aimed at serving the under-banked segments of Malaysia, such as youths, lower income earners and migrants. It is simple-to-use, secure, offers more benefits the more one uses it, puts customers fully in charge of when, where and how they handle […]
Can the internet revolutionise finance in China?
Internet finance in China has developed rapidly over the past several years. Internet finance embraces a huge range of activities, including third-party payment, online lending, direct sales of funds, crowd-funding, online insurance and banking and digital money. Public sentiment towards internet finance has moved the full gamut from fever pitch to fear. What is the future of internet finance? Optimists argue that internet finance represents a third type of financial intermediation, after direct and indirect financing, which could completely revamp traditional financial industries. Others point out that internet finance is mainly a Chinese phenomenon: a product of regulatory arbitrage, which could evaporate once financial regulations tighten to levels equivalent to […]
Stripe’s valuation nearly doubles to $9.2 Billion
The most valuable U.S. financial-technology startup is extending its lead. Stripe Inc., whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said. That valuation, which includes roughly $150 million in new cash being raised, nearly doubles the privately held company’s $5 billion price tag in a July 2015 round. Stripe was already valued higher than other U.S. “fintech” startups such as Social Finance Inc. and Betterment Inc. The leap comes as other fintech firms and some Silicon Valley tech startups struggle to maintain their valuations. Payments company Square Inc. has […]
Hot fintech app Revolut stops issuing new cards as it changes licences
Revolut, the fast-growing international money exchange service, has stopped opening new accounts temporarily as it changes licences. Founder and CEO Nikolay Storonsky told Business Insider: “At the moment, we don’t send new cards. We’re putting people on the waiting list.” Two sources told Business Insider that the freeze is down to a disagreement with partner Paysafe, a company that issues cards and processes payments on behalf of Paysafe. The sources say Paysafe, formerly known as Optimal Payments, told Revolut to stop issuing new cards after discovering that many cards were being issued outside of Europe. Last week it emerged that Revolut had stopped operating all of its cards outside of […]
Swedish fintech Klarna buys German startup Cookies after bankruptcy
Swedish payment service provider Klarna has agreed to take on the team behind the insolvent Berlin fintech startup Cookies. The Cookies app, founded by former N26 employees Garry Krugljakow and Lamine Cheloufi, aimed to simplify mobile money transfers and was once one of the most hyped up-and-coming German fintech companies. However, management in-fighting led Krugljakow to withhold his consent for raising needed outside funds. Cheloufi expressed his frustration in a blog post: “A distorted relationship is no justification for blocking financing that would ensure the survival of a company and the jobs of the people working there.” To read more, please click on the link below…. Source: Swedish fintech […]
Central banks look to the future of money with blockchain technology trial
At last week’s fintech festival in Singapore, two announcements illustrate the speed at which the world of digital currencies is moving and how the future of money is set to be reshaped by the forces of technology. First, the Monetary Authority of Singapore – which organised the event attended by 11,000 delegates from 50 countries – said it would trial its own digital currency for interbank payments using blockchain technology. Second, consulting firm PwC unveiled a new platform, called Vulcan Digital Asset Services, to provide banks and governments with confidence to explore cryptocurrencies after they were sent scurrying from bitcoin when it became apparent it was funding part of the […]
Using a credit card rewards app for 4 months made a huge difference in how I view my spending
I’m not great with money. It’s not like I’m a big spender. I don’t really splurge and my payments are timely. But I’m pretty clueless and careless when it comes to personal finance — especially things like credit card rewards programs. I recently tried out Birch, a free service based in Gainesville, Florida that’s meant to help people make sense of perplexing credit card reward programs. “I had a really terrible experience finding a good resource when trying to make sense of credit cards and their reward programs. I felt that a lot of the blog and credit card sites were just sets of confusing tables and lacked any sort […]
