Tag Archives: FinTech News

Famous cryptocurrency website Cointelegraph announced on Friday it is launching its own consulting allotment in order to enable the biggest companies to adopt blockchain as such. With that in mind, Cointelegraph plans to focus on thoroughly chosen blockchain participants that will be able to fulfill any promises they might eventually give to selected enterprise players.However, the whole selection process will not be that simple. There is already a huge criteria combo that they will have to...

Compound Finance, a crypto lending and decentralized finance (DeFi) startup has recently raised a massive $25 million in its latest funding round led by venture capital Andreessen Horowitz. This is reportedly one of the largest investments in any DeFi startups to date.Andreessen Horowitz will be pouring money into Compound through its a16z crypto fund. Besides, other investing firms include Bain Capital Ventures, Paradigm, and Polychain Capital.Currently, Compound holds nearly $103 million...

Revolut, the Britain-based digital banking and investing app is currently in discussion with global investors to push its expansion plans. As per the Reuters report, Revolut is planning to raise nearly $500 million as the company plans to expand its operations to Japan and the United States.On Tuesday, November 12, during an interview with Reuters, Revolut CEO and co-founder Nikolay Storonsky said:“We want to raise at least $500 million in direct equity and potentially, maybe at a later...

It has been evident in the last few years that companies within the blockchain, cryptocurrency and fintech space are receiving a lot more institutional backing after years of being rather niche sectors of the business world. This is evidenced by the fact that many more prominent firms are taking on blockchain technology such as MasterCard, Air Canada, Barclays and so on. It is also evidenced by the fact that many private firms such as Facebook and JP Morgan are embracing cryptocurrency and...

Damien Daube, The Garage director, said that he sat down with friends wondering “how a perfect blockchain development help hub can look,” thus they have decided to unite the practices from different companies and make the engineer-grade venture fund with fat roots in this new technology.Per the crypto press, some “blockchain-consultants” are taking up to half of the emission of ICO tokens for their services. At the same time, The Garage offers an amazing 5% fee in equities taken in 6 months...

Photo: ShutterstockOn November 12, 2019, Paxos debuted its Fiat Gateway and have announced that Binance will be its first client in this regard. Its Fiat Gateway means that customers can swap out U.S. dollars for stablecoins on a one-to-one basis and this is one of the first of its kind within the cryptocurrency industry.While this unique service is seeing more widespread attention since its association with Binance, it has actually been available to Paxos users since May 2019 and according...

Ant Financial, a subsidiary of Chinese tech giant Alibaba Group, has finally reached the testing phase of its business blockchain. The fintech arm of the tech giant, which has been working on a blockchain network created to support small and medium-sized businesses, has commenced its blockchain testing.Blockchain Tech Soon to Go LiveA top official at Ant Financial, Jieli Li who is the senior director of technology and business innovation at the company, stated during the World Blockchain...

Photo: Acumen_ / FlickrIn recent weeks, China appears to be retracting its hard stand against crypto activities within its jurisdiction. Notably, even President Xi Jinping encouraged Chinese investors to take up blockchain and crypto activities in an attempt to diversify the Asian economy.These developments have made billionaire Michael Novogratz warn that the United State’s reserve status might soon be undermined by the Chinese revolution. In his statement, he insists that China is already...

FCA-regulated payment platform Wirex, has announced a new offering for its customers, called the Wirex Visa Travelcard. Making the announcement at the Fintech Festival held in Singapore, the London-based financial services company said that it hopes the card would give its users the much-needed ease required for them to initiate and settle different kinds of transactions using both digital currency and fiat. The travel card is powered by VISA and is accessible and usable for all of the...

M-DAQ, a Singapore-based FinTech startup has added a new feather to its cap by receiving backing from Samsung Venture Investment Corporation. The Korean tech giant’s investment wing has recently joined other investors in M-DAQ’s pre-series D round.As per the Bloomberg report, the FinTech startup’s valuation has doubled to S$500 million, post the Samsung backing. Its previous valuations stood at S$250 million in November 2015.However, the exact amount invested by Samsung hasn’t been disclosed...