zipMoney secures $40M strategic investment and relationship with Westpac
zipMoney Limited (ASX: ZML) is pleased to announce that it has secured a $40 million strategic investment in the Company from Westpac Banking Corporation (ASX: WBC) by way of a private share placement. Westpac and Zip have also entered a strategic relationship which allows the parties to explore the integration of Zip’s products and services across Westpac’s network throughout Australia. As part of the strategic relationship, the parties will explore other initiatives including the provision of currently in-development business-to-business products and services to Westpac. The WBC strategic investment will be by way of a $40 million ordinary equity investment comprising the subscription of 49,382,716 fully paid ordinary zipMoney shares at […]
Will property crowdfunding take off in Australia?
Investors who feel bewildered by the ever-changing regulations on bank loans and costly mortgages should consider entering the Australian property market through crowdfunding. A new study conducted by the University of South Australia (UniSA) in partnership with DomaCom, suggests that crowdfunding could become a viable new vehicle for investors trying to make headway into the country’s increasingly challenging property market. Braam Lowies, the study’s lead researcher, noted that while the concept was relatively new in Australia, it had been successful in the United States and United Kingdom for approximately seven years. Young investors should consider crowdfunding A survey conducted as part of the study showed that crowdfunding attracted a mix […]
Bitcoin surpasses milestone price of USD$3000 across global exchanges
Bitcoin has finally surpassed the US$3000 per BTC average across global exchanges. In fact, it didn’t stop there and touched an all-time high of $3230 during the start of August 5. The decentralized cryptocurrency now commands a hefty $51.9 billion market cap while trading platforms are currently seeing intense exchange volumes at $1.6 billion USD/BTC trades over the past 24-hours. On August 5 bitcoin surpassed the $3000 USD per BTC threshold on the trading platform Bitstamp. Smashing the $3000 vantage point was not enough for bitcoin as BTC prices touched an all-time high of $3230. At press time one BTC is roughly $3150 as traders take some profits from the […]
Advice practices need to pay attention to next disrupters
Managed accounts, robo-advice, and scaled advice are going to be the norm in the next two to three years, Netwealth believes. Presenting at Money Management’s Fintech, Platform and Wraps conference on Thursday, Netwealth head of managed accounts – strategy and development, Steve Thomas said advice businesses were not fully across technologies that were available. Thomas said 29 per cent of advisers were using some level of scaled advice and 31 per cent expected to use it in 12 to 18 months. “They recognise that scaled advice can certainly help in the ongoing management of their clients,” he said. “The interesting part is for those 29 per cent using it, 40 […]
Blockchain Explained: What you need to know
As emerging technologies continue to revolutionise the way we live and transact, concepts like ‘cryptocurrency’ and ‘blockchain’ are becoming increasingly relevant to our collective financial future. Major banks are already talking about and beginning to use blockchain, a technology that could drive the digital transactions of the future. And it’s become a major buzzword in financial circles around the world for its potential to change the exchange of value as we currently know it. While the technology itself is in the very early stages of existence and is complicated to understand, businesses and entrepreneurs around the globe are looking at ways to effectively use it in the belief that blockchain […]
Bitcoin cash is essentially printing money
The creation of a second bitcoin asset this week did almost nothing to dilute the price of the original unit, with the value of the new asset instead rocketing skyward, generating almost $US7.5 billion ($9.5 billion) out of thin air. This week, a group of bitcoin activists and developers created a second version of bitcoin, within a few hours, the value of the new unit – bitcoin cash – leapt to over $US600. The original bitcoin price however, remained fairly steady, still trading at about $US2700 a coin, despite an almost 1:1 duplication of itself. “Everyone who has bitcoin now has bitcoin cash and because the market reckons this is […]
Asia’s leading Fintech Accelerator in Australia
Supercharger is Asia’s leading no equity Fintech Accelerator with programs in HK & Malaysia. They are currently looking for the best FinTech companies that are interested in expanding or scaling in the Asian market. To give you a sense, companies of a previous cohort have closed 12 contracts, raised USD700,000, and generated another 28 business leads within 12 weeks. Please feel free to explore the program on Supercharger website. They’re looking forward to your application which can be lodged here by 18th August 2017 and as for their track record, you can check it out here. The Fintech Accelerator have prepared some key answers that may help your team to review your scale of success in […]
Bitcoin cash is already the 3rd largest cryptocurrency
Bitcoin cash has already secured its place as a top cryptocurrency, just a day after it entered the marketplace. According to Coinmarketcap.com, the cryptocurrency is trading at about $US490 per coin and its marketcap now stands above $US8 billion. As such, it is the third largest cryptocurrency by marketcap, surpassing big name coins such as Ripple ($US6.7 billion) and Litecoin ($US2.2 billion). Bitcoin cash came to fruition Tuesday after it split from the original network that powers its crypto-cousin, bitcoin. To recap, the split was preceded by a years-long war between power brokers in the bitcoin space over the rules that guide the digital currency’s network. Supporters of the newly […]
