Tag Archives: FinTech News

When Facebook‘s cryptocurrency Libra started struggling with keeping its co-workers to keep partners on board and all of the institutions happy, an alternative called OpenLibra came to address some of Libra’s potential flaws.OpenLibra is described as an “open platform for financial inclusion,” with a tagline: “Not run by Facebook” and it was announced at Ethereum Foundation‘s Devcon 5 conference in Osaka, Japan.Be it as it may, thirty blockchain companies and nonprofit organizations decided...

Robinhood, the financial services and stock-trading company based in California, has just announced its launch of a new feature called Cash Management. According to the announcement, the new feature which will come with a Mastercard debit card will allow its users to earn an annual percentage yield (APY) of 2.05% on all unused funds left in brokerage accounts. Users can now visit Robinhood and join a growing waitlist, to take advantage of Cash Management and reserve a debit card.In December...

All over the world, financial technology is one of the most potent and growing industries, with the power to not only improve but also completely disrupt the traditional financial sector. There almost always is a new fintech focused firm springing up every day at different corners of the world, to not only solve certain problems that have existed for so long but also to create better effectiveness and efficiency. So far, however, they have been successful because there is a very real and...

Photo: ShutterstockWhen Facebook announced it is going with its own cryptocurrency Libra back in June, the CEO of Ripple Labs Inc., a US-based technology company, Brad Garlinghouse, was one of its first open supporters.Actually, he was so thrilled by the whole project and all the ‘fuss’ it had gathered in the crypto community that he decided to send the champagne to the Zuckerberg & Co.Be it as it may, a hard times has come to Libra, even before it actually came to circulation. As we had...

Apart from its ongoing antitrust investigation as put forward by the Federal Trade Commission (FTC), Facebook is also having a rough time regarding its proposed digital currency, the Libra. A few months ago, Facebook announced its plans to float its own cryptocurrency and also released a whitepaper to the effect.As part of the announcement, a Libra Association was announced, an association made up of several big companies including Uber, Mastercard, Visa, eBay, Spotify and many other...

Although Apple is making an aggressive move in the fintech and global payments industry, the tech giant has no plans to step in the crypto space for now. Apple Inc’s chief executive officer Tim Cook recently said that his company has no plans to launch its own digital currency.During an interview with French financial newspaper Les Echos, Cook said that matters related to currency should remain in the hands of countries and their respective governments. He added:“I really think that a...

It seems Patrick Harker, the president of the Philadelphia Fed, has finally got the memo, accepting that central bank digital currencies (CBDC) are “inevitable.” Still, that isn’t enough for America to take the lead on them. Harker, although extremely late to the party, made an important caveat on the U.S plans to create a CBDC. According to Reuters, speaking at a community banking conference on Wednesday, the Fed president addressed the unavoidable adoption of CBDCs. “It is inevitable I...

There has been a lot of negativity surrounding the launch of Facebook Libra over the last few months. Global regulators and banking institutions have showered severe criticism over the project. However, despite several kickbacks, the Libra Association is proceeding ahead with its plans of mainnet launch.Recently, the Libra Association has published a new roadmap that highlights 4 major milestones to be attained before the launch of the Libra network. The Calibra team says that the first...

As Facebook continues in the effort to launch its Libra cryptocurrency, the social media giant is likely to rely more heavily on paid lobbyists and the persuasion powers of its senior executives. Mark Zuckerberg prefers closed-door approach In a leaked audiotape of a Facebook town hall released by The Verge, the co-founder and CEO of the tech colossus Mark Zuckerberg took a swipe at public hearings on Libra and instead seemed to favor one-on-one engagements with decision-makers. While...

Photo: Broadridge / LinkedInBroadridge Financial Solutions, a United States-based corporate services company said on Tuesday they are ready to add cryptocurrencies and exchange-traded derivatives capabilities to their offerings. With the acquisition of Shadow Financial Systems, Inc., this service provider that is a famous supplier for public companies that provides them with proxy statements, annual reports and shareholder communications solutions, such as virtual annual meetings – is...