Global Fintech OFX hires Shears as CMO
OFX, formerly known as OzForex, has appointed Rebecca Shears as chief marketing officer. Shears joined the global payments business in August last year, and has been instrumental in directing the international rebranding of six regional brands to one streamlined global entity. OFX facilitates international currency transfers for consumers and payments for businesses. Using a proprietary interbank system, the Fintech is able to beat standard bank rates on international currency transfers by up to 75 per cent. Shears has over 20 years of experience in marketing roles, executed across the UK and Australian markets. She started her career at Unilever and has since held positions at British Telecom, Telstra and T-Mobile. […]
One country dominates the global bitcoin market
Almost all bitcoin trading is done in China. The share of the cryptocurrency that’s traded via China’s mainland currency escalated over the past few years, overtaking the US dollar as the dominant currency. From less than a 10% share in January 2012, the yuan now makes up nearly 100% of all bitcoin trading. Bitcoin surged 120% last year, outperforming every other currency in the world. It kicked off 2017 by rising above $1,000 for the first time since 2013.Those moves were made possible largely because of China. Volumes of bitcoin trading increased as China’s foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against […]
Bitcoin tipped to replace gold as portfolio staple
Digital currency is increasingly being seen as serious asset class, but investors need to get in soon to mine the opportunity, says a Silicon Valley-based entrepreneur. Speaking to InvestorDaily from San Francisco, Australian-born entrepreneur Michael Dunworth, CEO of Wyre and a former staffer at Midwinter Financial Services, said professional investors and advisers are waking up to the bitcoin opportunity following strong market performance. “Bank of America, hedge funds and high-net-worth individuals – they’re all getting into digital currencies as part of their diversified portfolio,” Mr Dunworth said. “There’s no getting away from it. It has been one of the best performing assets for the past five years, with no serious […]
Bitcoin rises to record on currency controls
Bitcoin hit an all-time high overnight, according to Bloomberg data, thanks to continued adoption in China and other parts of the world where traditional currencies are tightly controlled. The digital currency, which just turned eight years old, reached $US1140.64, which was higher than the $US1137 it hit in November of 2013. In December, bitcoin also surpassed its previous all-time high in total market capitalisation, which now exceeds $US16.1 billion. The latest increase was driven by capital or currency restrictions in countries ranging from China to India and Venezuela, where people purchased bitcoin to protect their savings, as well as increased adoption by investors. The digital currency beat every other currency, […]
Value of digital currency Bitcoin surges past $US1000
The value of Bitcoin has surged above $1000 as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $US1,024 in afternoon European trading yesterday, after breaking through the $US1000 mark on Sunday. It is now within reach of its historic high of more than $US1200 reached in 2013. Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty. Others believe buying is being driven by speculative demand, with investors anticipating future rises and […]
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 […]
Google Wallet launches web app for payments
Just in time for Christmas, Google has released its new Google Wallet web app, allowing users to send and receive money via their browser. Google’s new platform doesn’t require money transfer recipients to have the app to receive payments. Cash can be sent to a friend’s email address or phone number and they can then transfer the balance to their bank account without having to install the app. However, senders must link their debit card to their Google account and have access to a browser in order to process the transaction. Google relaunched its tap-and-pay Google Wallet app as a peer-to-peer payment solution last year. The new web app is […]
