Category: digital currencies

Raisin Bank has agreed to acquire the payment division of Bankhaus August Lenz. The move will help Raisin Bank diversify its revenue sources by adding payment services to its product lineup. Terms of the deal were not disclosed. Banking-as-a-service player Raisin Bank is adding cash and payment services to its product lineup. This comes as…

The judgment in Tulip Trading Ltd v Bitcoin Association for BSV and Others sheds light on the legal relationship between the software developers behind various bitcoin networks and their participants. Notably, the court found that there was no case to be made that the developers had a duty to take action to undo the effects…

In January 2000, global financial markets were on the verge of a meltdown that was expected to destroy both the reputations of investors and the riches of day traders, that invested in companies and tech stocks that weren’t generating any revenue. The “dotcom” crash caused a stock market meltdown. Between 1995 and 2000, Nasdaq climbed…

There’s five months to go until the adoption of ISO 20022 in Europe – the international standard for exchanging electronic messages between financial institutions, covering cards, payments, securities, FX and trade. Here’s a reminder of what it is and the progress so far. The International Organisation for Standardisation (ISO) first published ISO 20022 – a…

Two in five SMEs in EEMEA are earning more money than before the pandemic, driven by digital growth and international sales opportunities, according to the latest Mastercard report. Data from the company’s ‘Borderless Payments‘ report has brought to light how 46 per cent of small and medium-sized businesses (SMEs) in Eastern Europe, the Middle East…

As the country continues its lockdown well into 2023 while consumer consumption slows, China’s economic challenges have become important drivers for internet companies’ credit profiles; dampening industry profitability and cash generation in the short term. According to the findings of Fitch Ratings, China’s internet companies, including its fintech community, now face a diminishing threat of…

This week’s edition of Finovate Global takes a look at two Finovate alums that are helping support fintech innovation in the Middle East and Africa. First up is engagement banking platform provider Backbase. The four-time Finovate Best of Show award-winning company announced this week that it has forged a new partnership with Bahrain FinTech Bay…

Buy Now Pay Later (BNPL) has established itself as one of the primary ways for people to make payments in 2022. The pandemic caused many to become much more financially aware, leading to a massive uptake in alternative payment methods as people looked to stretch their available finances. For better and for worse, this saw…

Banks are being challenged by deciphering between their customers and cybercriminals amid a push to provide robust digital experiences. A collaborative effort is required to verify identities, according to solutions presented at the recent Federal Deposit Insurance Corp. (FDIC) FDITECH Sprint, which sought solutions on modernizing digital identity proofing or verification for remote customers. The…

Are happy days here again for cryptocurrency? Crypto platforms and coins have taken severe hits in what can only be described as a pessimistic market: Crypto giant Coinbase reduced its workforce by 1,100 in the second quarter, while executives from exchange platform Gemini noted the onset of market instability as cause for a 10% staff…