Even by Bitcoin’s standards, Wednesday was pretty wild. The price of the famously volatile digital currency fell nearly 30% at one point after the China Banking Association warned member banks of the risks associated with digital currencies. The decline narrowed to below 10% in the afternoon, but Bitcoin had still lost about $70 billion in […]
FinTech
China has barred financial companies, institutions, FinTechs, and payment companies from delivering any kind of services in relation to cryptocurrency transactions, while warning potential investor to shy away from crypto dealings. Many analysts and industry experts considered the move to be inevitable – especially following the government’s restrictions on Alibaba’s financial arm, Ant Group – […]
MTN Rwanda announced late last week the launch of a FinTech subsidiary called Mobile Money Rwanda LTTD, to provide and manage mobile money services throughout the country. The announcement – which was made as the operator received approval from National Bank of Rwanda to launch the FinTech service – also places Chantal Kagame as its […]
A German software developer who made a fortune from bitcoin has given the environmentalist Green Party one of the biggest political donations in the country’s history in hopes it will win this year’s national election — and consider banning the digital currency. Moritz Schmidt’s donation of 1 million euros ($1.2 million) to the Greens made […]
Venmo will allow users to buy and sell cryptocurrencies on its app, the company said Tuesday, the latest mainstream financial platform to wade into alternative currency like Bitcoin. In addition to Bitcoin, Venmo has opened up the platform to Ethereum, Litecoin and Bitcoin Cash — generally considered to be among the mainstream of the digital […]
British authorities are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak touted as “Britcoin.” The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency, at a time when cash payments are generally on the decline, […]
Online migration has been at the center of the worldwide news cycle since the COVID-19 outbreak, with companies and institutions from almost every walk of life taking their business to the digital realm. The societal impact of technology’s rapid acceleration caused by the pandemic will raise and answer many questions regarding how humans will choose […]
Paidy, a Japanese “Buy Now Pay Later” (BNPL) solutions provider, which serves 700,000 online merchants in Japan, announced Friday the launch of Paidy Link, a new feature that allows users to instantly link digital wallets with their Paidy accounts. In parallel, under the launch plan, is Paidy’s partnership with PayPal giving Japanese consumers shopping options through PayPal’s […]
Global financial services company Mastercard, and Geidea, the largest fintech company in Saudi Arabia by market share, announced earlier this week a strategic partnership agreement to accept Mastercard payments using a Tap-on-Phone solution in Saudi Arabia. Geidea is the first fintech company to roll out contactless payments acceptance technology across the Kingdom, which will enable […]
Contactless payments have been one of FinTech’s most prized innovation, silently growing in popularity within all types of commerce and shopping, with the pandemic skyrocketing its adoption across the board. As such, facial recognition for payments is on track to become the new norm of payment methods as the number of users of software-based facial […]