FlashFX first off the block to use blockchain for international money transfers and launch into Asia
Foreign exchange digital currency provider, FlashFX, announces it is the first Australian company to receive an Australian Financial Services Licence (AFSL) from Australian Securities and Investments Commission (ASIC) to transfer money internationally using blockchain technology. The FlashFX infrastructure is built on the Ripple distributed ledger technology using their real time currency settlement and payment network. “FlashFX is designed to revolutionise the way everyone makes international money transfers,” says Chief Enabling Officer, Nicolas Steiger. “We purpose built the platform to move money overseas securely, quickly, cheaply and with more control for consumers. “Blockchain offers a cryptographically secure end-to-end payment flow and records all transacted information. Being regulated by ASIC adds that […]
Peppermint secures strategic investment at a premium
Peppermint Innovation Ltd (ASX: PIL) announce a strategic placement agreement has been executed, for the investment of $1,000,000 at 2 cents per share via a placement of 50,000,000 shares in the Company, with an option to place a further $1,000,000 at a 25% premium to 5 day VWAP within 60 days from the first placement. The placement agreement has been executed between the Company and Smidge Digital Unit Trust, an Australian special purpose investment vehicle that subscribes for minority positions in innovative fintech and enterprise data analytics companies. Chris Kain, Managing Director & CEO comments: “This is a significant relationship with a strategic investor who has an intrinsic […]
Picking your peer-to-peer platform provider to invest
Disruption is not just happening to retail, hospitality and taxis. It’s also happening in financial services, especially banks, where borrowers and lenders are finding ways to engage, cutting traditional players out of the picture. At best, in this scenario, both investors and borrowers can end up winning, with better lending rates and higher returns. This sector is worth investigating for investors comfortable with debt, but be prepared to do your homework. The sector is expanding rapidly with a range of new businesses, offering differing features. But for most investors the field can be split into peer-to-peer lenders and corporate bonds. The lenders Funds are available for personal commitments such as […]
Three thousand Bitcoin ATMs to launch across Australia
Almost 3000 Bitcoin automatic teller machines will launch across Australia as part of a venture between an ATM operator and a blockchain service provider. The joint venture between StarGroup and DigitalX will see 2900 existing ATMs across Australia equipped with technology that will allow Bitcoin enthusiasts to buy and sell the digital currency. StarGroup has 500 ATMs and a further 2400 through its StarLink subsidiary nationally. The machines will be “two-way” ATMs, meaning users can acquire Bitcoin as well as convert their holdings to AUD cash instantly. The companies say this will solve a pain point for Bitcoin enthusiasts, who generally need to wait days using existing digital currency exchanges […]
Fintech future lies in a winning ecosystem: Reinventure
The Australian fintech sector must hone its focus to developing a specific ecosystem or risk losing out to a highly competitive global marketplace, according to Reinventure Group. Speaking at the Australia’s Asian Future Summit on Friday, Reinventure Group managing director Simon Cant spoke to the need for Australia to find its own fintech niche to attract global customers. He cited the success of Israel’s rapidly-expanding and globally dominant cyber security ecosystem, referred to by many as the ‘epicentre’ for security innovation. “Israel has developed a very strong reputation globally in relation to cyber security, and now people if they’ve got cyber security ventures it’s all about I need to get […]
Mike Cannon-Brookes leads $4m round in home energy fintech start-up Brighte
Atlassian co-founder Mike Cannon-Brookes has made his latest move in his ongoing effort to move the dial on Australia’s energy crisis, becoming the lead backer in a capital raising for home energy funding platform Brighte. The company, which was founded by former Macquarie Group senior manager Katherine McConnell in 2015, provides on-the-spot finance online for home energy improvements such as solar panels and home batteries. It promises to dramatically increase the number of homes installing renewable, clean energy equipment by taking away the often hefty upfront cost and making it easier and more affordable. Brighte raised an initial seed round of $3.5 million from high net worth investors and family […]
Westpac creates data accelerator
Westpac Banking Corp has created a “data accelerator” to build new technology businesses from anonymised data sets, and will offer access to it to institutional banking clients seeking to turn data into assets. FUELD, which has been set up in partnership with Stone & Chalk, will provide early-stage start-ups access to the Data Republic data-sharing platform. Westpac’s venture capital fund, Reinventure Group, is an investor in Data Republic. The accelerator will be run by the former CEO of Fishburners, Murray Hurps. Macgregor Duncan, Westpac’s co-head of business development, said start-ups which could emerge from the program may examine new credit models and applications for algorithmic real-time property valuations. Start-ups will […]
FinTech New York Immersion Program
Applications have opened for the FinTech New York Immersion Program. This has been designed for Australian FinTech’s who have an initial presence, or are ready to scale into the USA market using New York as their entry point in mind. FinTech’s will be introduced to and build connections to top tier New York networks in the finance, technology and startup network in a one week program including: interactive workshops and peer 1:1 mentoring from the NYC fintech startup ecosystem that include Betterment, Skaled, OpenFin, Algomi, Ladder, CapCo, and FintechCollective hear from the other side of the table of VCs and Enterprise, counting Brooklyn Equity, JP Morgan, ff Venture Capital, Bain Capital, SMBC, Nasdaq, American Express, DFJ […]
