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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 …


IBM, Microsoft, JP Morgan Lead Ethereum Blockchain Initiative

IBM, Microsoft, JP Morgan Lead Ethereum Blockchain Initiative

The Enterprise Ethereum Alliance (EEA) has announced that it will be launching a new “Token Taxonomy Initiative” that will see a collaboration by some of the most influential names in traditional and emerging financial technology (fintech), including Microsoft, IBM, JP Morgan, ConsenSys and many others. The EEA Token Taxonomy Initiative states that it will work on developing clear definitions for …


VC Fund Says India Fintech “Insanely Addictive”

VC Fund Says India Fintech “Insanely Addictive”

The founder of Emphasis Ventures (EMVC) VC fund Melissa Frakman, has told local business media outlet YourStory of her experience with the Indian financial technology (fintech) scene, professing that the country’s sector can be “insanely addictive“. Canadian-born Frakman insisted that India was the stage for some of the most exciting trends happening right now in the fintech sector, especially with …


Australia’s First Government-Funded Blockchain Incubator Gets One Up on State Rivals

Australia’s First Government Funded Blockchain Incubator Gets One Up On State Rivals

The first crypto lab in South Australia to receive government funding is hoped to boost the industry and catch up with other states such as New South Wales and Victoria. The new lab due to open in September has been awarded Federal Government funding to the tune of AUD 170,00 offering 10 blockchain startups both workspace and mentoring services. Although …


South Korea Banks to Open Payment Network to Fintech Firms by December 2019

South Korea Banks to Open Payment Network to Fintech Firms by December 2019

Banks in South Korea have agreed to make their payment networks fully available to financial technology (fintech) firms by December this year, according to local news outlet Korea Bizwire. The move is seen as the latest in a government effort to encourage the development of modern payment technologies and foster a more competitive financial sector. Bank payment networks can only …


Insurtech Lemonade Valued $2 Billion After $300 Million Injection

Insurtech Lemonade Valued $2 Billion After $300 Million Injection

Fintech insurer and insurance tech (insurtech) firm Lemonade yesterday raised a fresh funding injection worth USD 300 million in a deal led by SoftBank Group. Although the company did not reveal its valuation, sources said to Forbes that this fresh investment now means that this Washington-based unicorn is now worth more than USD 2 billion. Having previously raised in December …


UK Fintech Firms Go “Jurisdiction Shopping” as Brexit Looms

UK Fintech Firms Go "Jurisdiction Shopping" as Brexit Looms

Financial technology (fintech) startups based in the United Kingdom are apparently now seeking to relocate their operations, as the UK faces an imminent breakup with the European Union (EU), thereby losing its regulatory passport and privilege of free trade within the EU. This trend was exemplified by such a firm, London-based payments startup Azimo, whose interview with current affairs commentator …


Australia Government Change Would See Labor Push Blockchain

Visa, Horowitz, Among Investors in African Lending App’s $170 Million Funding Round (1)

A spokesman from Australia’s Labor Opposition party has stated that it will push blockchain technology if in government, despite current views that tech is overhyped. Currently, under a Liberal Government The Digital Transformation Agency (DTA) whose aim is to deliver world-leading digital services for the benefit of all Australians, feels that the technology needs more research before it can be …


London Firms Snared 39% of European Fintech Funding in 2018

London Firms Snared 39% of European Fintech Funding in 2018

Financial technology (fintech) firms based in London took the lion’s share of investment in 2018, collectively attracting 39% of all European funding, against a total USD 36.6 billion in global venture capital (VC) investment last year, according to a CNBC business report. Research from Innovate Finance has singled out the United Kingdom as an emerging leader when it comes to …


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