Bitcoin 

Fintech Startup Rapyd Raises $100M for Cloud-Based Payment Platform

Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Per an Oct. 1 press release, Rapyd secured $100 million from investors such as Oak HC/FT, investment companies Tiger Global, Coatue, venture capital firms General Catalyst, Target Global, and Entrée Capital, and online payments processor Stripe. Building cloud-based tech payment platform Rapyd plans to allocate the raised money to the development of a unified cloud-based technology platform designed to enable enterprises to integrate fintech and payment capabilities into commerce…

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Blockchain 

No Rush to Pass Fintech Laws: Philippine Senator Grace Poe

Philippine Senator Grace Poe said that local lawmakers should not be in a hurry to pass financial technology (fintech) regulation. Local news outlet Rappler reported on Sept. 23 that Poe made her remarks after a hearing by the Senate Committee on Banks, Financial Institutions and Currencies. She said: “To most of our countrymen, this is alien to them, but in fact some of them have been availing of it through online lending. And without the proper information and education, a lot of them are actually victimized.” A field that needs…

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Blockchain 

Fintech Firm Partners With R3 to Develop Shariah-Compliant Market Platform

Dubai-based fintech company Wethaq has entered into a strategic partnership with enterprise software firm R3, in order to create a platform for issuing and trading sukuk securities based on R3’s Corda offering.  A platform for Islamic securities According to a press release on Aug. 28, Wethaq’s platform is built on R3’s open source enterprise blockchain platform Corda, and the company has been taking steps to ensure that it is likewise compliant with Sharia Law. Wethaq’s platform is reportedly designed to improve the market infrastructure for issuing and trading sukuk securities.…

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Blockchain 

Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure

The Capital Market, Insurance and Saving Authority, a division of Israel’s Ministry of Finance (MoF), is looking to accelerate the process of procuring licenses for blockchain and fintech companies in the country. Israeli business news outlet Calcalist reported the development on Aug. 19. According to the report, the authority has launched dedicated industry teams, some of which specialize in blockchain companies.   According to the report, the authority is hoping to foster local competition by licensing more fintech companies. Moshe Barkat, who was appointed as the supervisor for the department back…

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Bitcoin 

How Brexit Will Affect the UK Fintech Industry? Experts Answer

Back in 2016, there was a referendum that caused Brexit, which has since been affecting all spheres of British life. Would Brexit’s effects be positive or negative for the fintech industry in the United Kingdom? We asked experts from the London Fintech Week, the U.K. in a Changing Europe, the University of Nottingham and more. Meanwhile — and this should be underlined — a lot of experts declined to give comments on such a politically sensitive topic. While the U.K.’s government was trying to deal with Brexit, with numerous negotiations…

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Blockchain 

Arizona to Test Marijuana-Oriented Stablecoin in State Fintech Sandbox

The state of Arizona has accepted a blockchain-based, cannabis industry-oriented payments solution into its fintech sandbox. According to a recent press release from the Office of the Attorney General, the company — called Alta — is a cash management solution for licensed medical marijuana providers and vendors. The Arizona-based financial services startup intends to offer a stablecoin that is pegged 1:1 with the United States dollar.  During its sandbox testing phase, Alta will trial its member onboarding and remittances platform. The end goal of the platform is to let users…

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Blockchain 

Cointelegraph to Moderate Special Event for Fintech Journalists

Cointelegraph is going to moderate an international media event at the BlockShow Asia 2019 conference in Singapore. The closed session for fintech journalists will take place at Marina Bay Sands on Nov. 13 — a day before the so-dubbed “Festival of Decentralized Technology” begins. Organizers say the event, known as BlockShow Medialogue, will bring top media outlets and PR agencies under the same roof, enabling them to network and discuss new trends. Addy Crezee, CEO of BlockShow, said:  “Events are important and Medialogue is a great step for all journalists…

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Ethereum 

Northern Trust Hands Off Blockchain Solution to Fintech Firm

Northern Trust has handed over its blockchain platform to fintech firm Broadridge Financial Solutions, according to a press release on June 26. The Chicago-based asset management firm Northern Trust has handed over its blockchain-based private equity (PE) management solution to Broadridge for further improvement. The platform purports to streamline and automate certain tasks, such as middle office functions. The PE blockchain solution will initially roll out “to all PE funds domiciled in Guernsey and Delaware, including those administered by Northern Trust.” Pete Cherecwich, President of Corporate & Institutional Services at…

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Ethereum 

Hong Kong Extends Migrant Policy to Facilitate DLT and FinTech Professionals

A new Hong Kong government initiative seeks to attract professionals in Distributed Ledger Technology (DLT) by simplifying the immigration policy, according to a press release published August 28. On Thursday, the government of Hong Kong published its first Talent List aimed at attracting “highly skilled” experts in 11 different fields, including fintech, DLT, and cyber security, from around the world. The move designates the government’s intention to “support Hong Kong’s development as a high value-added and diversified economy.” According to the press release, Hong Kong will facilitate successful applicants under…

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Blockchain 

Royal Bank of Scotland Onboards Former Circle Exec to Head Fintech Project

The Roybal Bank of Scotland (RBS) has hired a former executive from cryptocurrency finance firm Circle, according to a report by the Financial Times on June 18. Marieke Flament, who formerly worked as the European managing director of Circle, will reportedly join RBS as CEO of Mettle, its digital service for small and medium-sized enterprises (SMEs). Mettle has reportedly been operational since November 2018, and RBS is aiming to roll out a standalone version of the service in August. Flament commented on potential for financial disruption in the SME sector…

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