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Seoul Mayor Reveals Plan for Blockchain-Based Citizen Cards

Seoul Mayor Reveals Plan for Blockchain-Based Citizen Cards

The South Korean capital is to begin implementing blockchain technology in its citizen cards, if reports by local media outlet Queen.co.kr are to be believed. Seoul’s mayor, Park Won-soon, was at the Korea Future Forum (KFF) 2019 & Blockchain Tech Show when he spoke about how the city was no stranger to the keen edge of innovative technology, including blockchain …


Mastercard Invests $1 Billion into India Fintech

Global payment processor Mastercard has revealed a USD 1 billion investment commitment to financial technology (fintech) development in India over the next five years, reports online fintech portal Techiexpert. According to the source, this follows an earlier investment of the same amount made in the previous five years ending 2019. This second tranche of funding will go towards a complete …


Global Fintech Blockchain Market Share to Top $8.3 Billion by 2024

Global Fintech Blockchain Market Share to Top $8.3 Billion by 2024

High-end data analytics firm Zion Market Research has released a new publication that estimate the global financial technology (fintech) and blockchain market share to be valued at over USD 8.3 billion by the end of 2024. More impressively, the annual growth rate is set to reach very high double digit figures of percentage over the next five years. A statement …


African Fintech Woos Joe Montana, Raising $2.4 Million

African Fintech Woos Joe Montana, Raising $2.4 Million

TechCrunch has reported that African payment fintech Chipper Cash managed to successfully raise USD 2.4 million in a funding round, after enticing several high-profile backers, including American football athlete Joe Montana. After launching seven months ago as a peer-to-peer cross-border payments services without fees, they decided to raise funds for further expansion. This round was led by Deciens Capital and …


Brazilian Fintech Nubank Breaks into Mexico

Brazilian Fintech Nubank Breaks into Mexico

Reuters has reported that Brazilian fintech firm Nubank will now have an office in Mexico starting from this week as part of early steps into a potential expansion into other countries in the Latin American region. Nubank made headlines after raising USD 400 million in investment rounds from big names in the fintech industry, including Tencent Holdings Ltd, Sequoia Capital, …


PepsiCo, Mindshare See 28% Efficiency Boost Thanks to Smart Contracts

PepsiCo, Mindshare See 28% Efficiency Boost Thanks to Smart Contracts

Global marketing company Mindshare has launched a trial smart contract campaign with PepsiCo, through the Project Proton blockchain programmatic alliance, and recorded a 28% increase in efficiency. The trial was conducted last March in Asia Pacific involving viewable impressions on two campaigns: one with smart contracts and one without. Other members of Project Proton such as Zilliqa Research, Rubicon Project, …


Facebook Coin Ropes in MIT Professor

Facebook Coin Ropes in MIT Professor

A Coindesk report has quoted two anonymous sources close to the situation at Facebook, alleging that a prominent professor at the Massachusetts Institute of Technology (MIT) has been recruited by the social media giant to work on its crypto project. The project, dubbed by some as Facebook Coin, is said to now benefit from the collaboration of Christian Catalini, a …


Global Fintech Market Worth $305 Billion by 2023

Global Fintech Market Worth $305 Billion by 2023

A new study by Research and Markets shows immense growth for the global financial technology (fintech) market, set to be valued at USD 305 billion by 2023, with a CAGR of over 22% in the five year period until then. The double digit growth is credited to the high penetration and use of mobile devices, coupled with the adoption of …


Antitrust Watchdog Investigates Brazil Banks for Restricting Fintech Firms

Antitrust Watchdog Investigates Brazil Banks for Restricting Fintech Firms

Reuters reports that Cade, the antitrust watchdog in Brazil, has launched an investigation into four banks in the country for allegedly creating competition hurdles for a fintech company. In a statement issued by Cade, digital banking startup Nubank is said to have fallen foul of these hurdles, set out by Banco do Brasil SA, Caixa Economica Federal, Banco Santander Brasil …


RBI Sandbox to Promote Fintech, Blockchain, Excludes Crypto

RBI Sandbox to Promote Fintech, Blockchain, Excludes Crypto

The Reserve Bank of India (RBI) has rolled out what it termed a ‘Draft Enabling Framework for Regulatory Sandbox,’ that will serve as a requirement guide for the burgeoning fintech sector. In 2016, in response to the rapidly growing fintech space, the RBI set up a committee (Inter-Regulatory Working Group on FinTech and Digital Banking in India) tasked with the …


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