China is behind the latest Bitcoin craze
Bitcoin had a great 2016. The cryptocurrency rallied 120% to $952, and is threatening to break the $1,000 mark for the first time. While Bitcoin has seen a consistent bid throughout the year, its 57% gain (in US dollar terms) over the past three months has been particularly impressive. So what’s behind the move? China. In his latest edition of “Greed & Fear,” CLSA’s Christopher Wood notes, “Daily turnover in Shanghai-based BTC China, the world’s largest bitcoin exchange by volume, has risen from around Rmb1bn in late September to a peak of Rmb27.8bn on 22 December and Rmb16.4bn on Wednesday (see Figure 11) while the Bitcoin price has risen by […]
The price of bitcoin is at a 2016 high
The price of cryptocurrency bitcoin has passed its 2016 peak in recent days, with some market commentators taking it as a sign of fears about global growth in 2017. Bitcoin has hit $807 on Wednesday at just after 11.13 a.m. GMT (6.13 a.m. ET). It is the first time bitcoin has been above $800 this year and represents a fresh peak from June’s high of $775: The June high came after a spike in the price of the cryptocurrency following Britain’s shock vote to leave the European Union on June 28th. However, within a month of the $775 high, the price of bitcoin fell bellow $600 again. It began steadily […]
Why we need to change how we talk about Superannuation
Mike Goodall, Corporate and Industry Fund Sales Manager at Ignition Wealth has over 30 years experience working with retail and industry superannuation. Mike has a real passion for helping the industry super funds to connect more meaningfully with their clients. With record levels of disengagement the industry is ripe for disruption and Mike is committed to helping the superfunds revolutionise from inside, through the utilisation of the best emerging technologies. It’s no secret member engagement is the biggest challenge facing the superannuation industry in Australia. Despite collectively having more than $2.1 trillion invested in super, the majority of people don’t view superannuation as an investment or nest egg – at best they […]
VentureCrowd completes first Israeli crowdfunding deal with Knowmail
VentureCrowd, Australia’s leading alternative assets investment platform, today announced the successful completion of a $155,000 crowdfunding round for Knowmail. The company is the first Israeli startup to be funded through VentureCrowd under a partnership with investment management firm Kentgrove Capital. VentureCrowd raised $155,000 in convertible notes, as part of a larger US$3 million funding round led by reputable venture capital firms CE Ventures, AfterDox, Plus Ventures and 2B Angels. The investment gave sophisticated investors on the VentureCrowd platform the opportunity to access convertible notes at an interest rate of 4.5 per cent per annum. Knowmail, one of few startups to participate in the Microsoft Accelerator Program, is creating an artificial […]
REST’s industry-first online super advice product gives members ‘mobile first’ access to personalised financial advice
REST Industry Super became the first Australian super fund to provide its 1.9 million members with ‘mobile first’ access to personalised financial advice.
Upstart fintechs learn to live with industry ‘elders’
As 2016 closes, the relationship between legacy institutions and fintech companies has reached another turning point. Fintech, the brash upstart, was initially intent on dominance through total disruption, but it now has a grudging respect for the scale, if not the agility, of the industry’s decades-old incumbents. If phase one was all-out disruption, the dominant feature of phase two has been collaboration, with phase three likely to be some kind of hybrid model. The hype that lasted several years has been diluted by a recognition that most fintech companies operate in a small, targeted niche of the financial services value chain, with very few aiming to take over the entire […]
Luxury Escapes books its dream holiday with zipMoney
Partnership between leading Australian travel retailer and digital payments platform enables Australians the option to travel now and pay later. Luxury Escapes announced it had become the largest Australian travel retailer to partner with ASX-listed zipMoney Limited (ASX: ZML) and is now offering Australians the option to travel now and pay later. Luxury Escapes General Manager, Blake Hutchison, said the agreement with zipMoney meant Luxury Escapes’ million-plus members now have the flexibility to book their holiday today and pay over time in interest-free instalments. “Luxury Escapes is delighted to partner with zipMoney to simplify our members’ online travel booking experience,” Mr Hutchison said. “We want every […]
Octet forms alliance with Mastercard to give businesses a better way to pay
Octet Finance, the Australian company revolutionising the supply chain finance industry for small and medium businesses, has formed an alliance with Mastercard to enable businesses to pay global suppliers safely, securely and quickly. The alliance will enable Mastercard’s members to offer their B2B clients the ability to make cross-border supplier payments using their existing Mastercard debit and credit cards. Octet users will benefit from the integration of Mastercard’s cutting edge payment offerings, such as the Mastercard Payment Gateway Services (MPGS) and the configurable Virtual Card Number (VCN) feature, on the Octet platform. Octet Finance is the supply chain technology platform that enables payments to be made through the secure Mastercard […]
