Private Equity and Venture Capital technology investments key for investors
Chief Executive Officer of Crestone Wealth Management Michael Chisholm says investor access to the quickly growing technology sector is an important investment and social consideration in the current market cycle. Mr Chisholm said access to private equity or venture capital funds, which are uncorrelated to traditional asset classes, can help cushion portolios against any equity market downturn. Crestone recently invited a group of Australia’s leading venture capital (VC) investors to provide their views on technology. The panel included Paul Bassat, Co-Founder and Partner from Square Peg Capital, Daniel Petre, Co-Founder and Partner from AirTree Ventures, Niki Scevak, Managing Director and Founder from Blackbird Ventures, Emma Weston, Co-Founder and CEO from […]
GBST, Superestate launch digital super product
The mobile accessible fund will provide Superestate with a secure, member-oriented platform allowing greater communication and engagement with its members.
Australia rolls out new AML/CTF laws for digital currency exchange providers
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced that digital currency exchange (DCE) providers would be required to meet Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) obligations, effective 3 April 2018. AUSTRAC is Australia’s financial intelligence agency with regulatory responsibility for AML/CTF. “A ‘policy principles’ period of six months will be in place from 3 April 2018. During that period, the AUSTRAC CEO can only take enforcement action if a DCE business fails to take ‘reasonable steps’ to comply,” AUSTRAC said. Under the new AML/CTF laws, DCE providers would be required to: Adopt and maintain and AML/CTF program to identify, mitigate and manage money laundering and terrorism financing […]
This Australian fintech leader says cryptos won’t replace traditional currencies in ‘another three lifetimes’
The value of bitcoin lies in its use as a finite commodity protected by rock-solid cryptography, rather than a currency used to buy goods and services, according to Loretta Joseph, chair of the Australian Digital Commerce Association (ADCA). Joseph spoke to Business Insider following reports that Australian crypto trading exchanges must now comply with standards set out by financial intelligence agency AUSTRAC. The announcement followed an 18-month consultation period between AUSTRAC and the ADCA.“We have defined crypto as a commodity,” Joseph said. “It’s not a currency for use as a means of exchange.” “There was recently a key legal case in New York which defined bitcoin as a commodity. So […]
Aussie cryptocurrency exchange to trial BPAY’s Osko
Cryptocurrency exchange BTC Markets is trialling BPAY’s Osko service as a way to speed up conventional fiat deposits from customers. The company said it would support Osko, which runs as an overlay on Australia’s new payments platform (NPP), which went live in mid-February. The billion-dollar NPP allows banks to send payment messages in real time to each other via the Reserve Bank. In a brief statement, BTC Markets said it would trial Osko for deposits only, but that it expected the service to also support withdrawals within a few months. Osko presents an opportunity for cryptocurrency exchanges to support much faster deposits of fiat currency into their ecosystems, which can […]
Coinspot receives approval to become Australian-based crypto exchange
CoinSpot has announced they have been successful in their application to be registered by AUSTRAC to provide exchange services for crypto.
Moneycatcha appoints industry veteran John Heaton as Chief Technology Officer
Moneycatcha, one of Australia’s leading fintech startups, has appointed technology veteran John Heaton to the newly created role of Chief Technology Officer. Mr Heaton joins the multiple award-winning company from Queensland’s Heritage Bank where he oversaw strategy and technology architecture. He has more than 20 years’ experience in the IT, resources and banking sectors, having served in various senior positions at Oracle Corp and Xstrata Copper. Moneycatcha CEO and founder, Ruth Hatherley, said: “We’re absolutely thrilled and privileged to have John join our fast-growing team. “His experience in technology, coupled with insights in banking and finance, is second to none. “John is instrumental in ensuring our products are compatible across […]
BPAY Group develops BPAY BatchMaker and partners with QuickBooks
BPAY Group, Australia’s leading payments provider, has announced its latest innovation, BPAY BatchMaker, a product helping small businesses to pay multiple suppliers at the same time. As part of BPAY Group’s growing portfolio of developing innovative products for the Australian market that solve customer pain points, BPAY BatchMaker helps makes it easier for small businesses to pay multiple bills and create efficiencies by reducing manual processing. BPAY BatchMaker’s first partner is QuickBooks, the global leader in cloud accounting, with 2.8 million subscribers worldwide. The BPAY BatchMaker app is now available to QuickBooks customers, free of charge*, via the QuickBooks app store. The new application is an easy and convenient way […]
