‘Better than blockchain’ new asset trading system unveiled
The chief scientist of the Capital Markets Cooperative Research Centre, Michael Aitken, has demonstrated a new asset trading system – known as digi.cash – which he says will allow a broad range of financial assets to be traded at virtually no cost with immediate settlement, potentially disruptive to existing markets like the Australian Securities Exchange. Digi.cash works via a system of “tokenisation”, where a digital representation is made of a physical asset. When the “token” is sent from one person to another, settlement is instant. The receiver can then “withdraw” the real asset. In a presentation to the Financial Review Innovation Summit, Professor Aitken, who received the Prime Minister’s innovation […]
The future of FinTech
In case you haven’t noticed, FinTechs (short for financial technology) are moving in fast on the traditional financial services world – or at least they’re trying to. You’ve already been swept up in the FinTech revolution if you use a bank app or contactless credit card chip, pay in Bitcoin, transact with PayPal or take part in crowdfunding or peer-to-peer (P2P) lending. The FinTech movement The idea behind FinTechs is to cut out the middlemen, streamline the process, and give customers a better experience than what’s traditionally been on offer from the banks, which, among other shortcomings, can still take a few days to process a simple electronic deposit. The […]
CXi Software announces partnership with its third client PE Capital
New Australian fintech CXi Software Pty Limited announce that PE Capital Funds Management Limited is now live on its cloud-based unit registry platform CXi-Registry™. “We chose CXi as they were able to provide their cutting edge registry platform as well as advice in setting up our processes and fund structure in the system that we really needed” said Anthony Mann; Chief Operating Officer. PEC, a Melbourne based diversified property investment manager, had found its business had grown beyond managing via internally managed databases and sought a robust solution that will scale with their growth projections. “The CXi team were able to migrate us across from our legacy processes very quickly, […]
Now you can buy Ethereum and alt-coins with cash at your local newsagent
The cryptocurrency revolution is coming to your local newsagent. Since 2016, enthusiasts have been able to purchase bitcoin over the counter in a local store via the blueshyft platform. Through a new partnership with CoinSpot, that has now been expanded to include numerous other cryptocurrencies, including Ether, the biggest rival to the dominance of bitcoin in the digital currency world. blueshyft CEO Kain Warwick describes the new in-store offering as a significant improvement to the availability of Ether and other digital currencies for consumers. “More Australians are becoming interested in cryptocurrencies beyond bitcoin. This partnership with CoinSpot now provides a simple method for consumers to buy many different […]
You’re invited to the next FA-MIL: Fintech Australia – Meet the Industry Leaders
FinTech Australia in partnership with Grant Thornton, in the lead up to Intersekt Festival Australia’s first FinTech Festival, are hosting a series of evening events around Australia to help you understand how to make the most of Australia’s tax incentive programs, aimed at FinTech organisations. The Australian Fintech Community are welcome to register with the FA Member Ticket Type to attend for FREE (saving $48) At this seminar, experts will cover: Advantages of Research & Development (R&D) Tax incentives – you are eligible for more than you think! Alternative options to working capital Presenters: Sukvinder Heyer, Grant Thornton (Syd & Mel) Steve Andreazza, Grant Thornton (Adel, Per, Bris) David Wier, […]
Australian FinTech Jobs hits the ground running
Australia’s only fintech employment platform, Australian FinTech Jobs, had barely launched when it made news around the world. Within 48 hours of the website’s launch, the employment platform made the press in New York, London, throughout Australia and across various other international business websites. “It’s very, very early days, but the positive feedback we’ve receiving is overwhelming,” says CEO Cameron Dart, “we are a bit surprised by the amount of support but obviously a dedicated employment site like this was need for Fintech in Australia.” In just over 4 weeks, more than 75 Fintech companies and recruitment firms have registered to use Australian FinTech Jobs. To date, some of the […]
Waddle expanding into New Zealand
Sydney-based fintech outfit Waddle has announced an expansion into New Zealand, as it looks to further capitalise on Australia’s $64 billion invoice finance and factoring industry. Founded in 2014 by high school mates Simon Creighton, Leigh Dunsford and Nathan Andrews, Waddle is a cloud funding software and addresses what Mr Creighton says was an opportunity its competitors, including Scottish Pacific and banking providers, were failing to address. “The current process has been done the same way for decades and no one was building software to solve it,” Mr Creighton said. “Our technology is world-class and is transforming the approach of other lending businesses and banks, by removing how manual and […]
Bitcoin is beyond government control
Bitcoin has surged more than 33 per cent from Friday’s wave of panic selling, suggesting the cryptocurrency is becoming more and more immune to government intervention. After news broke that Chinese regulators were shutting down all exchanges on the mainland, the price of the world’s most valuable cryptocurrency plummeted over 40 per cent and dragged the price to a low of $US2,981 ($3741). Citing the lack of licensing and regulation, authorities gave the major exchanges operating in China 10 days to close their doors. As of Friday, the last exchange ceased trading and Bitcoin sustained heavy selling. However, over the weekend, exchanges throughout the rest of the world picked up […]
