Truth and fiction in blockchain’s brave new world
Before Christmas, a fascinating new phenomenon began to manifest itself. Companies previously not greatly valued by the stock market were finding that the simple addition of a word to their corporate identities could multiply their worth many times over. The word was “blockchain”. Soft drinks companies and obscure software firms alike were being transformed into potential tech juggernauts. Or so their share performances would have us believe. However, the most interesting thing about all this is not that the stock market is easily dazzled by industry hype. That has been true for a while. It is the way a word can be detached from its original or literal meaning and […]
The complete cryptocurrency list: Every altcoin, its symbol and how to buy it
With over 1370 cryptocurrency coins available for purchase, keeping track of which altcoin matches which code and symbol is no easy task. Until finder’s cryptocurrency list, that is. The whole world is talking about cryptocurrency, and plenty of people are making a lot of money in the process. What started slowly with the single idea of bitcoin has suddenly exploded into a supernova of activity. It’s hard to believe that over 1,370 coins are already on the market, with more expected to arrive in 2018. It’s a volatile, yet exciting, phenomenon that has bought investment and trading to the masses. To help you keep on top of it all, below […]
Coinspot rubbishes liquidity claims, says it is ‘getting closer’ to turning on Australian dollar deposits
Aussie cryptocurrency exchange Coinspot has described warnings of liquidity issues due to too many customers cashing out as “absolute rubbish and untrue”.
Can a fintech lending firm disrupt the big four?
If Australian banking needs a fundamental shake-up, it may come from insiders-turned-outsiders, and few fit that bill better than Jason Yetton at SocietyOne. As CVs for Australian bankers go, Jason Yetton’s background doesn’t quite scream ‘disruptor’. High-flyer perhaps, certainly ambitious and across trends. But helming a startup? Yetton started out in 1992 as a graduate trainee in Sydney at Bankers Trust under its then boss, the dynamic Rob Ferguson. There was the obligatory stretch in Asia – in Kuala Lumpur with CIMB – and the polishing stint at Harvard Business School too. By 2008, Yetton had joined Gail Kelly at Westpac in Sydney in a variety of senior posts, rising […]
Aussie crypto exchange turns attention to new laws
BTC Markets expects delays, fine-tuning. Australian cryptocurrency exchange BTC Markets has warned users to expect deposit and withdrawal delays as it “fine-tunes” transaction monitoring systems to meet new legal obligations. Last month, financial regulator AUSTRAC was handed the authority to monitor local digital currency exchanges under new Anti-Money Laundering and Counter-Terrorism Financing (AML-CTF) laws. It’s the first time Australia’s digital currency sector has been regulated, and BTC Markets is the first local exchange to detail what that might mean for its operations. The company said it already verified “the identity of our users, their source of funds, and the purpose of their transactions as they occur on our platform … […]
Is bitcoin’s price tumble a warning bell for investors?
Seasoned investors will find it hard to resist a smug “I told you so” if the price of bitcoin continues the swoon which has seen it tumble from its December peak of nearly $US20,000, to around $US13,150 late on Tuesday. That’s because since its creation in 2008, most investors have tended to see bitcoin as a financial market sideshow, of interest to criminals and drug dealers perhaps, but scarcely an asset that could be ranked alongside shares or bonds. But bitcoin’s stunning price rise last year – the digital currency started 2017 at less than $US1000, which meant that it notched up a gain of around 2000 per cent for […]
Fintech firms welcome regulatory pathway for new bank entrants
A group of over 180 fintech firms strongly believes the country’s financial regulator should pursue steps to ease licensing for new entrants to the banking industry. In a submission paper to the Australian Prudential Regulation Authority (APRA), FinTech Australia agreed that APRA should utilise a “phased approach” to help potential applicants navigate the licensing process, while at the same preserving entry standards. A discussion paper by APRA released last year initially suggested the phased approach idea to stoke further competition. “The phased approach is intended to support increased competition in the banking sector by reducing barriers for new entrants being authorised to conduct banking business, including those with innovative or […]
Bitcoin futures trading company XBT Investments heads for the ASX
Investors who are unsure of how to buy or manage their own cryptocurrencies will have an easy way to be exposed to the volatile asset class, with the first bitcoin investment company readying to list on the ASX this quarter. The float of XBT Investments, which has a management agreement with BitFunds, will invest in bitcoin futures rather than own the cryptocurrency outright. This enables it to overcome the ASX’s listing rules which do not permit pure cryptocurrency investment companies. The listing comes as bitcoin starts the new year trading lower for the first time since 2015, having fallen from almost $18,000 to less than $17,300. The slide comes on […]
