Local FinTech Jacaranda Finance commits to providing positive credit reporting data
Following the Australian Government’s announcement of the introduction of comprehensive credit reporting (CCR), many lenders and other financial institutions are following suit with the aim of creating a more accommodating platform for consumers. This platform will allow for consumers to get a better deal from lenders based on a more accurate representation of their own financial circumstances. The foundation of financial lending is built on the concept of helping those in need. However, it is common practice for lenders to enforce a different criteria for consumers with bad credit, as a negative history may lead lenders to question the reliability of the client. In line with responsible lending obligations, […]
BTC Markets dumps BPAY minimum
Cryptocurrency investors no longer stuck with a $500 minimum trade. Australian cryptocurrency marketplace BTC Markets has eliminated its $500 minimum for deposits made through the popular BPAY platform but has dropped deposits through rival POLi for now. The firm confirmed the policy change in a tweet on Sunday. “The BPAY minimum of $500 no longer applies,” it said. There’s a sting in the tale for local investors. While the BPAY limit has been lowered, BTC Markets has stopped supporting the Australian POLi payments platform. Previously it allowed deposits through POLi, albeit with a $3.30 per transaction service charge, but that’s no longer the case. “We have suspended POLi deposits for […]
Bitcoin and other cryptocurrencies plunge as regulation, demand concerns linger
Bitcoin has slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world’s largest cryptocurrency. Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs. Coinmarketcap.com’s decision to exclude Korean pricing data for coins helped create the appearance of a large drop in prices, which some traders attributed as playing a part in the selloff. “News on the regulatory front is dragging down cryptos,” said Gabor Gurbacs, director of digital-asset strategy […]
Bitcoin competitor Ripple value climbs, almost beating Facebook’s Mark Zuckerberg
The virtual currency boom has gotten so heated that it is throwing the list of the world’s richest people into disarray. Consider what has happened to the founders of an upstart virtual currency known as Ripple, which has seen its value skyrocket in recent weeks. At one point on Thursday, Chris Larsen, a Ripple co-founder who is also the largest holder of Ripple tokens, was worth more than $US59 billion ($75 billion), according to Forbes. That would have briefly vaulted Mr. Larsen ahead of Facebook chief executive Mark Zuckerberg into fifth place on the Forbes list of the world’s richest people. Other top Ripple holders would have also zoomed up […]
Central banks investigate digital currencies following bitcoin boom
No statements, no accounts, no fees, and definitely no waiting for your money to arrive. That could be your financial future in a world where banks have been replaced by a single, unique “key” which would let you directly transfer and receive money instantly from anywhere in the world. It’s something central banks from the UK to Israel and Australia are actively assessing as they consider whether to develop their own cryptocurrencies to mirror the benefits of bitcoin, while minimising the ability to launder money or evade taxes. Head of the Cyber Academy at Edinburgh Napier University, Bill Buchanan said many are now putting their “toe in the water” to […]
Welcome Fintech Fans to 2018!
And welcome to Australia’s #1 FinTech employment platform – Australian FinTech Jobs Since the launch of AustralianFinTechJobs.com.au in late 2017, over 600 candidates have registered and 100+ FinTech companies and recruitment firms have posted more than 125 jobs for the FinTech industry. The site doesn’t just cater for finance or technology roles, it’s there for every role within a FinTech company from interns to the CEO. In addition, the site is also used for non-FinTechs, such as banks and financial planners etc, who are looking to hire for a specific FinTech role. We’ve also partnered with Indeed.com – one of the biggest employment advertisers in the world – and any […]
Will national cryptocurrencies kill off Bitcoin?
Governments are extremely worried about cryptocurrencies such as bitcoin. These virtual currencies mean you can make payments without involving the banks that most economies and government financial models are built on. People can transfer large amounts of money without the authorities knowing, potentially making it easier to evade tax or launder money. So several countries’ central banks, including the Bank of England and the Bank of Israel, are reportedly planning to launch their own digital currencies. This could help lure people back into using an official system that combines some of the benefits of both traditional and crypto- currencies. But the risks involved may be too great for many typical […]
Why ICOs are the real deal
As bitcoin and the overall cryptocurrency market exploded in 2017, the appetite for ICOs (Initial Coin Offering) has also risen but without the same mainstream attention. At its most basic level, an ICO is a public crowd fundraising alternative to the traditional IPO (Initial Public Offering). ICOs have quickly become the choice of global visionary companies that have an audacious plan and need capital to quickly execute it. While the general consensus is that participating in ICOs should be taken with great care, which I agree with, there are many success stories in Australia and around the world that buck this notion. ICOs differ from IPOs in a number of […]
