Exchange traded fund opportunities and risks
Australia is a long way from having “biblical” exchange traded funds (ETFs), as the US does, that exclude companies that support lesbian, gay, bisexual or transgender rights. But a rush of new ETFs in this market is creating controversy. Local issuers expect a massive conversion of investors into ETFs in the next five years, tripling the market’s size and disrupting the wealth-management industry. If product promoters are right, ETFs will revolutionise how hundreds of thousands of people invest. iShares Australia director Jon Howie believes Australia’s ETF market could hit $100 billion in assets by 2023, from $29 billion in May 2017. “There’s no reason why ETFs cannot account for around […]
Blockchain applications rolling out in financial markets
The blockchain gives investors transparency over loan-level data, asset provenance, payment history, loan terms and the quality of underlying security.
Bitcoin price stabilises after crypto markets crumble
A frenzied few weeks of rapid Bitcoin speculation, which saw the price rocket to $US3000 a coin, looks to be easing. The entire cryptocurrency market was rallying up until last week, when it was worth around $US106 billion. But a dramatic sell-off on Friday saw the cryptocurrency market shed around $US6 billion in the space of a few hours. The sell-off came as Bitcoin investors look to hedge against the “irrational exuberance” that has gripped the market, prompted in part by a flood of new, speculative capital from optimistic newcomers. But the top 10 cryptocurrencies appear to have stabilised over the weekend. On Sunday afternoon the combined total of Bitcoin, […]
In relief rally, bitcoin jumps more than 20% from June low
Bitcoin quickly bounced back from the lows of June, amid improved sentiment about the future of the digital currency. Bitcoin traded higher Saturday near USD$2,680, up more than 20 percent from a June low of USD$2,185.96 hit Thursday that had erased gains for the month, according to CoinDesk. Worries about overexuberance in digital currencies overall and heated debate among developers about how to upgrade bitcoin’s technology weighed on its price. “A proposal was accepted to merge the two upgrade methods, making them compatible,” Brian Kelly, a CNBC contributor and founder of BKCM, which runs a digital assets strategy, said Friday. “So we have seen a relief rally on this progress.” […]
Ex-Turnbull adviser Paul Shetler joins Stone & Chalk to teach innovation
Paul Shetler and Alex Scandurra are on a mission: to get boards to stop merely thinking and talking about innovation and to start doing it. Shetler has emerged in his first private sector role after Malcolm Turnbull hired him to run the government’s Digital Transformation Office, which he left in November. He has been convinced by Scandurra, the chief executive of Stone & Chalk, to join the Sydney-based fintech hub for a couple of days a week to advise both tenants and companies wanting to deepen their engagement with new economy. AFR Weekend sat down with Shetler and Scandurra to understand directors’ psyche towards risk-taking and responding to the powerful […]
A free trip to Israel is on offer for 10 Australian fintech and cybersecurity startups
The NSW government and Austrade are looking for fintech and cybersecurity startups interested in travelling to Israel for business opportunities. The 2017 Tel Aviv Landing Pad scheme will provide flights and accommodation for 10 NSW-based companies to travel to the Israeli capital for a 10-day programme of meeting investors, partners and potential clients, plus attending the DLD Innovation Festival. “Tel Aviv is one of the most mature tech ecosystems in the world and this is an opportunity not to be missed by fintech and cyber security startup entrepreneurs,” said NSW trade and industry minister Niall Blair. TechSydney’s office in inner city Sydney on Monday evening will host an “open house” […]
Victoria to build fintech hub
Victoria is taking on the likes of Singapore, London and New York in fintech, with the state government announcing a new financial technology hub in Docklands it says will create jobs in the fast growing industry. Announced at an event Wednesday night, the new hub is proposed to be established at the Goods Shed North in Docklands, and will be used to bring together start-ups with investors, corporates and researchers in a single space. “Victoria is no longer competing with Sydney. Our competition is with Singapore, London and New York. And as we succeed so will the rest of Australia,” Minister for Small Business, Innovation and Trade Philip Dalidakis told […]
Square becomes a one-stop shop for your countertop
Whether you’re looking to finish the financial year with a countertop upgrade or you’re starting a new business, the thought of sourcing new hardware, software and payments services from multiple providers can be exhausting. Unfortunately, that’s the challenge many Australian business owners face. At Square, we think things should be simpler. We make it easy to source every tool you need to run a fully integrated point of sale on your countertop. That’s why we’re excited to announce that you can now buy every piece of point-of-sale hardware you need on Square’s online shop. We offer a wide range of third-party hardware and accessories that solve all your countertop needs. […]
