FinTech Financial News

Bitcoin documentaries play an important role in educating and informing the public about the cryptocurrency space. They can help to demystify complex concepts and technology, making them more accessible to a wider audience. Additionally, documentaries can provide a historical perspective on the development of Bitcoin (BTC) and the cryptocurrency industry, helping to contextualize current events and trends.

Financial technology firm PayPal’s international money transfer service, Xoom, has announced a new product that lets users in the United States send money directly to Visa debit card users. 

According to an announcement on Jan.3, blockchain fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia. 

Proof-of-stake blockchain platform, Cardano, has partnered with COTI, a DAG-based Layer 1 protocol, to launch what it refers to as an over-collateralized algorithmic stablecoin. The project said in an announcement provided to Cointelegraph that the stablecoin will be backed by excess collateral in the form of cryptocurrency stored in a reserve.

The United States Office of the Comptroller of the Currency, or OCC, has announced its representatives will be available on a one-to-one basis to discuss financial technology.

The government will also review property rights for tokenised assets.

The United States Office of the Comptroller of the Currency (OCC) announced Oct. 27 that it will create an Office of Financial Technology early next year. The new office will incorporate the Office of Innovation, which was set up in 2016. It will be led a by a chief financial technology officer, who will report to the senior deputy comptroller for bank supervision policy.

Binance representatives participated in a hearing of the Philippine Senate Banking Committee, according to a report in the local press Wednesday. Bangko Sentral ng Pilipinas deputy governor Chuchi Fonacier, the country’s Security Exchange Commission (SEC) chair Emilio Aquino, and members of FinTech Alliance Philippines and the Cagayan Economic Zone Authority also took part in that hearing.

The payment mechanism in India may get turned upside down in another four years. 

London-based asset manager Fasanara Capital has launched a $350 million investment fund to back fintech and cryptocurrency startups that can deliver new use cases for the emerging Web3 economy. 

money transfers which are low cost and frictionless. Technically, blockchain based cryptocurrencies offer such benefits but face considerable regulatory hurdles. This is where some of the new age money transfer platforms are offering viable alternatives to transfer money. Wise, a global technology company is building ways to move money around the world. Started in 2011, Wise helps people and businesses hold more than 50 currencies, move money between countries and spend money abroad. Globally around 11 million people and businesses use Wise, which processes over £6 billion in cross-border transactions every month. London based Wise entered India in June last year and has tied up with RBL Bank enabling Indians to send money abroad through. In an e-mail interview Diana Avila, global head of banking & expansion, Wise, discusses money transfers, cryptocurrencies and other issues. Edited excerpts:

India and the fintech industry are not alien to blockchain technology, which has become a huge talking point among startups, media and even in government corridors. And not without reason, blockchain is a platform that allows the recording of information in an extremely secure way, making it near-impossible to alter or break into the system. Blockchain has been described as a digital ledger of records called blocks, which are used to record transactions and track assets in a business network. It is known to democratise processes, ensuring security, transparency and efficiency, with one of the most attractive qualities of this technology being decentralised ownership.

In 2017, Decentralised Finance, or DeFi, was not yet a buzzword in India, and cryptocurrencies were being viewed suspiciously as the country's regulators were mulling if they should be banned or okayed, even as Bitcoin rallied.

Kyash, a Tokyo-based digital wallet, announced a $41.2 million usd, or 4.9 billion yen, raise in a Series D round. Since launching in 2015, the cashless mobile app and corresponding credit card has grown its total funding to an estimated $108 million, or 12.8 billion yen. 

When the first blockchain came to life, it shared a vision for an all-encompassing solution that would enable anyone to transact on a single chain regardless of what they were hoping to accomplish.

Central Bank Digital Currency (CBDC) in the Union Budget 2022 by Finance Minister Nirmala Sitharaman, Prime Minister Narendra Modi on Wednesday threw more light on the topic in his address to the nation. PM Modi said that the digital currency will boost the digital economy in the year to come, adding that the RBI-backed CBDC will be controlled and monitored by the central bank and will be a digital avatar of India's fiat currency. India's move to launch CBDC is in tandem with other global peers, who are planning similar moves soon.

Global payments processor Checkout.com announced a $1 billion Series D funding round on Wednesday, which marks a total of $1.8 billion raised to date and a $40 billion company valuation.

CoinSwitch Kuber, India's largest and the most-valued crypto unicorn (in terms of user base), has appointed Ashish Chandra as the General Counsel. Chandra will play a pivotal role in building a conducive legal framework for the business as crypto-asset adoption continues to grow amidst the mainstreaming excitement. Chandra has over 20 years of experience across internet and tech giants, including WhatsApp India, Netflix and eBay.