US crypto exchange wants a piece of the Aussie market
U.S.-based cryptocurrency exchange, CoinZoom, has announced it will enter Australia after its wholly owned subsidiary, CoinZoom Australia, gained approval from financial regulator AUSTRAC. CoinZoom anticipates its Australian platform will go live in the first quarter of 2019. The fiat to crypto exchange will support major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Litecoin, Ripple, in addition to top traded altcoins. “Being fully registered with Australia’s regulatory financial oversight body AUSTRAC to operate as a Digital Currency Exchange, is an important step in our goal to provide globally compliant digital currency trading for both institutional and retail traders,” said CoinZoom CEO, Todd Crosland. To read more, please click on the link […]
Stablecoins: Money of the Future
Stablecoins are currently the fastest growing sector of the cryptocurrency market, worth $186 billion; these constitute cryptocurrencies whose values are pegged to real life commodities like gold or the US dollar. This is opposed to traditional cryptocurrencies—such as Bitcoin or Ethereum—whose markets are very volatile and can fluctuate by 10-20 percent in the space of a few hours, causing massive uncertainty among investors. Governments across the globe, from Australia to Sweden, are realizing stablecoins’s potential and developing their own, in addition to official blockchain funds which develop GPB and Japanese Yen-pegged coins. Types of Stablecoins There are numerous stablecoins on the market, which fall into three main categories: fully collateralized, […]
Bankwest accelerates shift to digital cards
Australian retail banks are accelerating their push towards deploying virtualised payment cards to replace vulnerable legacy plastic, as the pace and scale of breaches intensifies sharply. Commonwealth Bank subsidiary Bankwest revealed on Monday it has gone live with a ‘digital card’ feature that can activate a credit card in a digital wallet via the Bankwest Mobile app within 24 hours rather than having to wait for embossed plastic to arrive via snail mail. It’s a small but significant move because it signals the transition by banks to a truly digital-first payments footing as major card schemes American Express, Mastercard and Visa all heavily push tokenisation efforts that remove the need […]
Lakeba achieves $20M startup sales record for Paid By Coins
Australian technology innovator Lakeba, who has launched over ten new ventures in the Australian market since 2016, today announced the $20M sale of their Paid by Coins venture to Mobecom (ASX:MOB) only seven months after launching the platform in early 2018. “Lakeba built, deployed and exited the Paid By Coins business in less than seven months, achieving what few startups have before them. This accelerated acquisition timeline demonstrates the rigour and depth of Australian innovation and sets a new benchmark for the rapid commercialisation and sale of market-relevant, high demand emerging technology solutions,” said Giuseppe Porcelli, CEO and Founder of Lakeba. Paid by Coins is a secure payment solution for consumers, enabling […]
Goldfields Money forms strategic alliance with Ivy Koin
Australia’s new revolutionary digital bank, Goldfields Money (ASX:GMY) is pleased to announce a strategic partnership with Los Angeles-based Ivy Koin, a developer of blockchain-based solutions for financial institutions to validate and cater to compliance needs for fiat & digital currency business transactions. Under the agreement Goldfields Money & Ivy will be working closely together to commercialise the use of blockchain technology in banking to validate and legitimise digital currency to fiat transactions in the traditional banking framework. Goldfields Money has recently revamped its digital banking platform and has a modern mindset working to cater for the needs of technology savvy consumers. Ivy’s technology is a perfect solution to explore new […]
Nasdaq moves towards bitcoin futures, unphased by crypto carnage
When you’re searching for volatility, market gore might mean you’re heading in the right direction. “Will digital assets survive?” New York Stock Exchange chairman Jeffrey Sprecher quoted at the Consensus Invest conference last Thursday. “The unequivocal answer is yes… We’re kind of agnostic to price.” He was followed up by Intercontinental Exchange (ICE)-backed Bakkt CEO Kelly Loeffler, who reiterated the trading giant’s plan to release bitcoin futures contracts for more reliable price discovery. “The Bakkt futures contract will help Bitcoin traders establish a trusted price. Bitcoin now trades at different prices on different exchanges, many of which are unregulated,” she explained. Nasdaq is now reported to be making decisive moves […]
Fintech currency wars heat up as Pelikin prepares to launch
A travel cash mishap in Croatia was Sam Brown’s inspiration to launch startup Pelikin into the competitive space of travel money and foreign exchange. “I was in Croatia, I went to get money out, put my travel card into the ATM and then cancelled my transaction because I changed my mind. My travel provider thought that was suspicious and blocked my funds. What that led to was having to borrow money, from the people I was travelling with,” Brown says. Brown has just closed out a crowdfunding raise for Pelikin of close to a quarter of a million dollars that has been “essentially a marketing campaign” for a the company’s […]
Why your kids want cryptos for Christmas
In 1975, the most popular children’s toy was ‘The Pet Rock’. There was no false advertising to speak of when it came to this toy. It was literally a smooth rock housed in a box with the label: ‘genuine pedigreed pet rock’. Its selling point was that it was the perfect pet — it required no maintenance, and best of all, there was no chance of accidentally killing it. It sounds ridiculous to us now. But nonetheless, in 1975, that rock was all the rage. And the genius behind the idea, Gary Dahl, died a multi-millionaire. Come 1980, the most popular toy was the Rubix Cube. In 1987, it was […]
