Fintech

Blockchain Developer Ant Financial Ranks Fifth Largest Private Firm in China

Fintech and blockchain developer Ant Financial, an affiliate of e-commerce giant Alibaba, has been ranked the fifth most valuable private firm in China. In an inaugural rankings report by Hurun, which is best known for compiling a rich list for China, Ant Financial is the top firm in its field and fifth largest in a …

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Longfin CEO Reaches $400,000 Settlement With SEC Over Fraud Charges

The U.S. Securities and Exchange Commission (SEC) has reached a settlement with fintech firm Longfin’s CEO, Venkata S. Meenavalli, on charges of fraud. According to an SEC press release Friday, Meenavalli has agreed to pay $400,000 in both disgorgement and penalties related to a 2017 Regulation A+ offering the SEC deemed fraudulent. Longfin delisted from …

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Hong Kong Institute of Bankers Onboards Six Virtual Banks as Members

The Hong Kong Institute of Bankers (HKIB) has onboarded six virtual banks as corporate members, according to a Jan. 2 press release. The HKIB is a non-profit institution that provides training and certification to the banking organizations in Hong Kong. The last banks joining the HKIB are Airstar Bank Limited, Fusion Bank Limited, Livi VB …

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Wifi Sharing Platform Wicrypt Gets Government Grant in Nigeria

</header> <strong>A crypto startup providing wifi hotspot sharing services in Nigeria has won funding from the country’s telecom regulator. Wicrypt placed second among 25 tech companies participating in an innovation competition organized by the Nigeria Communication Commission and it’s going to receive a grant worth 2 million naira to finance its project. </strong> Also read: …

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German Fintechs Rush to Offer Crypto Custody Services Under New Law

</header> <strong>Fintech companies in the Federal Republic are quickly moving to develop and offer custodial solutions for digital assets under the new German legislation that will allow banks to store, transfer and trade cryptocurrencies next year. Berlin-based Solarisbank has established a subsidiary that will focus exclusively on the niche. The new entity and another German …

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Reuters: Dutch Bank ING Working on Digital Asset Custody Technology

Amsterdam-based bank ING is reportedly developing cryptocurrency custody technology, Reuters reported on Dec. 12. The digital assets custody service being developed by ING is purportedly part of one of the bank’s several blockchain-related initiatives and is still at an early stage of development. ING reportedly said that it “sees increasing opportunities with regard to digital …

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Canadian Venture Capital Firm Secured $320 Million to Invest in Fintech Startups

Portag3 Ventures, a Canadian venture capital (VC) firm, has closed a second fund with around $320 million to invest in fintech startup companies globally. On Dec. 3, TechCrunch reported that the VC company received final commitments from institutional and strategic investors totaling $320 million. The funds will allow the company to make early-stage investments in …

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Blockchain Firm Figure Technologies Secures $58M, Aims for $103M

San Francisco-based fintech firm Figure Technologies has secured $58 million in a recent funding round which aims to raise a total of $103 million. According to a filing with the United States Securities and Exchange Commission, Figure — which is the creator of Provenance, a blockchain platform to track supply chains — has raised over $58.8 …

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Former UBS Executive Establishes Digital Securities Insurance Platform

A former executive of investment bank UBS has established a United States-based digital securities platform. According to a press release on Nov. 27, Claude Waelchli — who served over 12 years at UBS in various executive positions — launched the Tokenyz platform for issuing digital securities.  Waelchli states that the financial industry can benefit from …

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Oman Sees First Trade Finance Transaction on Blockchain

Oman Oil and Orpic Group and HSBC Bank Oman SAOG have conducted the first trade finance transaction on the blockchain in the country using R3’s Corda platform. As news publication the Oman Observer reported on Nov. 23, Oman Oil and Orpic Group — one of the largest oil and gas businesses in Oman — and HSBC …

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