Mastercard, Standard Chartered test tokenized deposit transaction
[May 15 1:57 PM] Mastercard’s Multi-Token Network enabled an atomic swap of a tokenized carbon credit for cash in a bank account.
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Israeli fintech Kima, Mastercard lab look to develop ‘DeFi credit card’
[May 14 11:38 AM] Kima is seeking to bridge traditional and Web3 finance and make the user experience more manageable.
Lightning Labs CEO Elizabeth Stark States Stablecoins Are Coming to the Lightning Network
[May 13 9:42 AM] Elizabeth Stark, CEO of Lightning Labs, stated that tokenized assets, such as stablecoins, are next to appear on top of the lightning network (LN), Bitcoin’s layer two scaling protocol. Stark highlighted the transformative possibilities of…
South African Fintech Startup Leseka Tech Signs Deal to Buy Payments Provider for $86M
[May 11 7:44 PM] Lesaka Technologies, a fintech startup based in South Africa, recently signed a deal to acquire Adumo, a payment solutions provider, for nearly $86 million. Under the terms of the agreement, Lesaka Technologies will pay Adumo $12.5 million in cash…
Macquarie Bank to Go Cashless as the Banking Sector Shifts to Digital-Only in Australia
[May 9 2:20 AM] Macquarie Bank, one of the largest banks in Australia, will not allow its customers to deposit or withdraw cash or cheques from its office branches starting this month. The move comes as the bank goes cashless, and transitions to digital payments…
Revolut debuts dedicated crypto exchange for UK users
[May 7 3:05 AM] Revolut announced its new Revolut X crypto trading platform for U.K. retail users, which it claims will offer fixed low fees and easy fiat-to-crypto conversion.
Jack Dorsey’s Block to raise $1.5B in senior notes offering
[May 6 11:05 AM] Fitch Ratings notes that Block has used convertible debt for external funding since its IPO and is well-positioned to exploit the growth in payments and consumer financial services.
Nigerian fintechs crack down on crypto, users face account blocks
[May 3 2:43 AM] The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.
Citi: Brazil Is at the Top of Digital Money Initiatives in Latam
[Apr 29 11:38 PM] A recent report by Citi, a global financial institution, has put Brazil at the top of the nations leading the digital money initiatives in Latin America. The report states that Brazil features a combination of factors that ease the adoption of…
Insights from Token2049: How crypto wealth is made
[Apr 26 11:21 AM] Attendees at Token 2049 in Dubai shared their personal stories on how they became rich.
Brazilian Neobank Nubank Introduces New Crypto Wallet Features for Bitcoin, Ether and Solana
[Apr 25 11:34 PM] Nubank, a Brazilian neobank, has introduced new features for its cryptocurrency customers. The Sao Paolo-based organization recently enabled deposits and withdrawals of bitcoin, ether, and solana in its cryptocurrency service, broadening the use…
Chainlink debuts new protocol aimed at boosting cross-chain interoperability
[Apr 24 10:00 AM] The Cross-Chain Interoperability Protocol will make cross-chain smart contracts more interoperable across nine blockchain networks.
BIS Boss Coins ‘Finternet’ Term, Touts Tokenization as Tool for Solving Today’s Financial System Shortcomings
SWIFT Plans to Launch CBDC Interconnection System in Next Two Years
[Mar 29 1:21 AM] SWIFT, the network that provides the messaging system for cross-border banking settlements, has announced plans to launch a CBDC equivalent of its current network in the next two years. The organization recently completed a 6-month test to assess…
Congolese Fintech Startups, Government Form Association to Accelerate Financial Inclusion
[Mar 24 11:30 PM] Democratic Republic of Congo (DRC)-based fintech startups have partnered with the government to launch an association. The goal of the collaboration is to accelerate financial inclusion in the African country. By partnering with the government, the…
Nigerian Startup, Zone, Raises $8.5M in Seed-Funding Round
[Mar 20 5:30 AM] Zone, a Nigerian payment fintech startup that leverages the blockchain, recently raised $8.5 million in a seed funding round. An undisclosed portion of the funds will be allocated to cover costs associated with the trial of Zone’s cross-border…
Nigerian Fintech Startup Chipper Cash Lays Off Employees in US, UK
[Mar 18 5:30 AM] The Nigerian fintech startup, Chipper Cash, recently abolished the roles of 20 workers based in the U.S. and U.K. The CEO Ham Serunjogi said this decision aligns with its goal of maintaining high operational efficiency and moves the startup closer…
Hong Kong Launches Project Ensemble, a Wholesale CBDC and Tokenized Deposits Initiative
Mogo Takes a Further Leap Into BTC, Eyes Long-Term Gains With $5M Bitcoin Reserve Investment
[Mar 7 2:00 PM] In a statement released on March 7, the Canadian fintech entity Mogo disclosed its strategy to diversify its portfolio by investing in bitcoin and bitcoin exchange-traded funds (ETFs), earmarking an initial outlay of as much as $5 million. Canadian…
Egyptian Fintech Startup Moneyhash Secures $4.5 Million in Seed Funding Round
[Mar 4 5:35 AM] Moneyhash, a digital payments fintech startup, recently secured $4.5 million in a seed funding round. The fintech startup said it will use the capital raised to enhance its technology and fund its regional expansion drive. The Impact of COVID on…
Indonesia’s Commodities Regulator Requests Finance Ministry to Review Crypto Taxes
[Mar 3 11:30 PM] The Indonesian Finance Ministry has been called upon to assess the implementation of cryptocurrency taxes by the nation’s Commodity Futures Trading Supervisory Agency. In the past few months, Indonesia’s revenue from crypto-based transactions has…
The Catch-22 of U.S. Crypto Regulation
[Mar 1 3:05 PM] The SEC is asking crypto and fintech firms to do the impossible. Only Congress can stop that.
Digital Euro Association Partners With HBAR Foundation to Boost Understanding of CBDCs and Stablecoins
[Feb 28 6:30 AM] The Digital Euro Association (DEA) has entered into a partnership with the HBAR Foundation. This collaboration aims to bolster its comprehension of central bank digital currencies (CBDCs) and stablecoins. Although this partnership marks a…
Digital Yuan Now Used to Complete Car Prepurchase Payments
[Feb 23 2:00 AM] The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with…
Stablecoin Issuer Circle Announces Discontinuation of USDC Support on Tron Blockchain
[Feb 22 1:30 AM] The U.S. financial technology firm Circle said on Feb. 21 that it will discontinue support for USDC on Tron blockchain. The move comes just a few months after Circle refuted allegations that it was Tron blockchain founder Justin Sun’s bank…
Nigerian Microfinance Bank Carbon Acquires Fintech Startup Vella Finance
[Feb 18 5:00 AM] Vella Finance, a Nigerian fintech startup, was recently bought by the microfinance bank Carbon. The acquisition of the fintech startup paves for Carbon to launch a new banking platform targeting Nigerian businesses. New Business to Leverage…
Kenyan High Court Unfreezes $3 Million Belonging to Nigerian Fintech Giant Flutterwave
[Feb 5 3:30 AM] A recent ruling by the Kenyan High Court in favor of the Nigerian fintech startup Flutterwave will see it finally get access to $3 million which has been frozen since July 2022. The judge slammed the Assets Recovery Agency for continuing to hold…
Atlantic Council: Belief That Dollar Does Not Need to Innovate Is a ‘Miscalculation’
[Jan 29 1:00 AM] The U.S. Federal Reserve is lagging behind its peers like the Bank of China in terms of the resources and manpower dedicated to developing a central bank digital currency. According to a blog post, the belief that the dollar does not need to…
South African Fintech Startup Ukheshe Acquires 100% Stake in EFT Corporation
[Jan 21 5:00 AM] South African fintech startup Ukheshe recently announced that it has acquired a 100% stake in EFT Corporation, an Africa-focused payment services provider. According to the startup, the acquisition takes Ukheshe closer to its stated goal of…
Egyptian Fintech Startup Zeal Secures $4 Million to Fund Expansion to New Markets
[Jan 18 4:30 AM] The Egyptian fintech startup has revealed that it recently raised $4 million in funding via a round led by venture capital firms Raed Ventures and Cur8 Capital. CEO said the firm’s capital raise is expected to help Zeal accelerate its journey…