Tag Archives: FinTech News

The United Kingdom (including London) fintech ecosystem has reached a new record of $4.9 billion in investment. And as a result, it has managed to secure its position for another year as the number one destination for European fintech investment. Only the United States has a better record, according to the recent report from City AM, London.Exclusive data from Innovate Finance has revealed that the UK recorded a 38% increase in venture capital and private equity investment into its fintech...

Off lately, the San Francisco-based blockchain startup Ripple has been frequent in news. Ripple CEO Brad Gralinghouse has been much vocal about his company’s plans for 2020 and ahead.During the last week’s World Economic Forum 2020, the U.S. Treasury Secretary Steven Mnuchin expressed confidence in the development of new cross-border payment systems. Post Mnuchin’s statement, Ripple CEO Brad Garlinghouse also said that this could turn positive in favor of the company.Ripple has been actively...

Ripple’s Xpring initiative XRPL Labs is getting ready to launch its Xumm banking application. The app will allow users to store fiat and digital currencies in the wallet account, without any intervention from banks. In other words, Xumm offers banking services without banks getting involved.Xumm banking application is powered XRP, the token that is widely used in Ripple’s solutions. Notably, it will be available for all kinds of users. Easy to use, the app requires no special knowledge with...

As per reports from Forbes on January 27, 2020, Bitcoin (BTC), the world’s largest cryptocurrency experienced a 5% rise, briefly climbing as high as $9,142.80 per Bitcoin on the Luxembourg-based BitStamp exchange before slightly falling back afterward. At the moment of writing, Bitcoin price is $9,017. However, this price still demonstrates a more than 4% growth over the last 24 hours.Since Bitcoin enjoyed a tremendous boost in 2017, it has struggled to reach a similar height. The crypto is...

Ripple has said that blockchain technology and other fintech solutions will usher in the future of payments in 2020. In an official publication posted on Thursday, the company explains what the future of payments will look like. The publication also details events that are likely to unfold this year and how new technology will lead the way.In the Future Payments Will Be Faster and SmallerRipple is stressing that as time goes on, financial institutions and payment companies will have to...

Recently, the UK fintech startup Currencycloud ran a series E funding round. Among the participants were Sapphire Ventures, Notion Capital, Anthemis, Accomplice, and Google’s venture wing GV. All of them supported Currencycloud earlier. Besides, the startup boasted it had attracted new investors. Visa, World Bank arm International Finance Corporation, BNP Paribas, Siam Commercial Bank and former Softbank spinoff SBI Group joined the round and invested as much as $80 million.The round has...

Ripple, the company that actively uses the world’s third-largest cryptocurrency XRP in its solutions, is having big plans ahead this year in 2020. In the latest development, Ripple said that it plans to launch its XRP-based cross-border payments systems to global markets.In the newly released XRP Market Report, Ripple said that plans to bring XRP-based international payments to companies and individuals alike. Furthermore, the blockchain startup explained that XRP provides real-time gross...

Popular Bitcoin payment processor BitPay has sealed a partnership with fiat-to-crypto payment processor Simplex, enabling users to purchase Bitcoin and other cryptocurrencies directly within the BitPay app using a credit card. They can also transfer funds, make purchases and send money to friends from a single dashboard.In providing BitPay with a fiat onramp to conduct and settle crypto transactions, Simplex has created a major on-ramp to the cryptoconomy. Over 30,000 merchants use BitPay,...

Mastercard has been partnering with several other payment products and services providers aiming to grow its customer base throughout the world. In the latest news, Mastercard teamed up with SoFi, a digital personal finance company, on a lot of products and experiences. The new partnership will benefit SoFi’s almost one million customers, according to a press release from the companies.The new deal kicks off with the SoFi Money debit card, which is an offering that will exist on the...

On Wednesday, it got about that American online payments company PayPal had partnered with UnionPay International (UPI), a subsidiary of the Chinese leading payment processor UnionPay. For both companies, the deal is a good way to expand their networks and penetrate into new markets.Jim Magats, senior vice president of global payments at PayPal, commented:“At PayPal, we are proud of this landmark agreement with UnionPay International and the global impact that this creates for our joint...