Bitcoin on the map in Sydney’s city
Cryptocurrency has been hailed as the way of the future — digital assets which can be deposited, spent and exchanged for real world goods. Operating outside of central banks, cryptocurrency has increased in popularity since the concept found form in bitcoin — claimed to be the first of its type — just under a decade ago. At the end April last year the total value of all existing bitcoins exceeded $2.5 billion Australian dollars, millions of which are exchanged each day — including in the heart of Sydney’s CBD. Coinmap, a heatmap of registered businesses and ATMs which accept bitcoin, shows 30 locations in the City of Sydney — including […]
Ookami and National Currency eXchange to share IP, produce new digital asset technology
Ookami (ASX: OOK) has edged further into the cryptocurrency space after securing a collaboration agreement with National Currency eXchange Group, with the duo to share intellectual property to develop new synergies and technologies. According to Ookami, the collaborative agreement complements its business model to develop technological solutions that encompass blockchain technologies, smart contracts, anti-money laundering, identity management and verification, data markets, digital asset wallets and exchange platforms, security and encryption, among others. The National Currency eXchange is a platform for investors to trade cryptocurrencies such as Bitcoin and Ethereum. As part of the collaboration, Ookami and National Currency eXchange will create a “preferred” client model which enables people to use […]
The New Payments Platform Launches
Payments infrastructure that enables customers with accounts at different banks, building societies and credit unions to make real-time data-rich payments to each other any time of day, any day of the year, will commence rolling out to the Australian public from today. The New Payments Platform went live in November last year and has supported funds transfers between employees at a number of different banks, building societies and credit unions. The Platform’s public launch occurred in the very early hours of this morning — at 12.01am to be precise — when CEO of NPP Australia Adrian Lovney marked the occasion by making a donation to the Alannah and Madeline […]
Aussie Regtech secures recognition as leader in Compliance Innovation space
Leading Australian RegTech Lucsan, has been announced as a Fintech Business Awards finalist in the Compliance Innovator of the Year category. As one of the 10 nominees contending the award, Lucsan is thrilled to be named alongside some of the industry’s best in class by being acknowledged as a leading organisation making a contribution to the rapidly growing RegTech and fintech communities. The exciting development further signify Lucsan’s presence as an in-demand RegTech. It also follows on from the announcement late last year that one of Australia’s largest financial services technology providers, IRESS, took a minority stake in Lucsan. Additionally, Lucsan recently welcomed former ASIC man, Stuart Frith, as their Group […]
Moneysoft partners with managedaccounts.com.au
Moneysoft has partnered with managedaccounts.com.au to offer its personal money management solutions to all financial planning practices using the ASX-listed online platform provider. Under the agreement, advisers receive preferential pricing on both Moneysoft Lite and Pro. Those tools enable them to provide additional client services, build greater engagement and unlock further efficiency. Managing director of managedaccounts.com.au, David Heather, said that there is a natural alignment between the two companies with their shared focus on empowering advisers and their clients. “The growth in managed accounts is part of an industry-wide shift to more transparent and efficient investing. Pairing our next generation platform with Moneysoft’s money management, cash flow and budgeting services […]
Equity crowd-funding up and running to open new investment doors
FROM gin distillers to energy-boosting mouth strips, opportunities are popping up for investors to grab stakes in start-up Australian businesses with as little as $50. The Australian Securities and Investments Commission last month licensed seven online platforms that let anyone pump money into emerging businesses, and despite a slow start there is expected to be a surge in opportunities online soon. It’s equity crowd-funding, where individuals buy shares in businesses well before they list on the stock exchange. This early-stage investment potentially delivers them the biggest profits but also carries the greatest risks. One of the seven licensed companies, Equitise, is currently raising money for Xinja, Australia’s first independent digital […]
Bitcoin finds a bottom as risk aversion grips global markets
What’s supposed to be the most volatile asset in the universe is proving to be a bastion of stability compared with wild swings and carnage in global equities this week. Bitcoin clawed its way back from the four-month low of $US5922 it touched on Tuesday, rebounding almost 45 per cent to $US8500. The S&P 500 Index and the Dow Jones Industrial Average both fell more than 5 per cent this week, wiping out gains for the year. Emerging markets stocks and currencies also plunged, while shorter maturity US Treasuries climbed as investors fled from risky assets to safe-havens. Bitcoin’s supporters are quick to extol the cryptocurrency’ virtues as an asset […]
Asia-Pacific fintech market to reach US$72 billion by 2020, finds Frost & Sullivan
Active support and initiatives by financial regulators such as the Monetary Authority of Singapore, Bank Negara Malaysia and Bank Indonesia has enabled the Asia-Pacific Fintech ecosystem to grow significantly in 2017. New innovations are expected to radically transform the way consumers shop, pay perform banking transactions and purchase insurance. The wave of new Fintech technologies is also changing customer behaviour and interactions today. Frost & Sullivan presented its annual Fintech Outlook at The Swissôtel The Stamford in Singapore on 8 February. The event was attended by over 70 senior management and C-suite executives, marking the start of an exciting year ahead for the industry. The Fintech industry in the Asia-Pacific […]
