With the help of a fundraising initiative by SoftBank and Tiger Global Management, Revolut is now valued at $33 billion. The London-based digital banking startup has officially been labeled as the UK’s most valuable private fintech unicorn. The fundraiser raised $800 million, which will be used to develop new products and stretch out its operations in international markets such as the United States and India. Founded in 2015, […]
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After El Salvador’s congress made the bitcoin legal tender this week, eyes turned to this rural fishing village on the Pacific coast. Known to surfers for its pounding waves, El Zonte has had the cryptocurrency in its economy for the past year. Some 500 fishing and farming families use bitcoin to buy groceries and pay […]
El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first nation to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. The digital currency, originally created to be money out of the control of governments, can be used in any transaction […]
Cryptocurrency has dominated worldwide headlines, taken over the minds of basically every tech enthusiast, FinTech genius, business, and global governments across the spectrum. Everyone is either buying it, investing in it, or mining it; through rise and fall, people are in full swing with crypto wallets popping up as far as the finger can scroll. […]
Coinbase made a rousing debut on Wall Street, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion. Coinbase Global Inc.‘s initial public offering happened with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are being incorporated into business plans […]
WeWork will finally go public this year, allowing investors to buy and sell its shares. But not through a traditional IPO. In the two years since the office-sharing company’s failed IPO, a new way to launch a stock on Wall Street has become fashionable: SPACs. Special purpose acquisition companies have been embraced by big institutions […]
Singapore-based OCBC Bank announced on Thursday that they have enabled facial biometric verification on several of their ATMs across the country, eliminating the need to carry ATM cards, which can be skimmed or stolen. According to the bank, the first transaction which can be performed using face verification on OCBC Bank ATMs is account balance […]
The Justice Department has charged three North Korean computer programmers in a broad range of global hacks, including a destructive attack targeting an American movie studio, and in the attempted theft and extortion of more than $1.3 billion from banks and companies, federal prosecutors said Wednesday. The newly unsealed indictment builds off an earlier criminal […]
Disruptions are a welcome break in almost all the industries around the world; however, some disruptions can indeed be catastrophic, but as every coin has two sides, it also brings great opportunities. The digital disruptions brought by the global pandemic has created a difficult situation for a few but there are several institutions that took […]
The world is becoming more and more digital as time passes, with finance services championing this transformation, especially with the increasing demand of contactless digital payments swooping in, as the global Covid-19 pandemic magnifies our need for them. Many central banks around the world are looking to create their own digital currencies (CBDC) to spearhead […]