Raiz gets licence to distribute Mutual Funds in Indonesia
Raiz Invest Limited’s (ASX code: RZI) expansion into Southeast Asia has taken a major step forward after securing a licence to distribute Mutual Funds. Raiz Invest, via its subsidiary PT Raiz Invest Indonesia, has secured the Mutual Fund Selling Agent (“APERD”) licence from the Indonesian Financial Services Authority (OJK) to act as a Securities Brokerage specifically established to market Mutual Funds. Further reviews by the OJK of the Raiz mobile first saving and investing technology are required before Raiz Invest can become fully operational in Indonesia. Raiz has established an office in Jakarta with three staff and is well progressed in modifying its platform for the 270-million Indonesian market. Raiz […]
Australia’s ETF industry set to grow in 2019
Australian exchange traded fund (ETF) industry is expected to see further growth in 2019, with increased allocations to fixed income ETFs, according to BetaShares’ annual predictions. This year to November, the Australian ETF industry finished the month at $41.1 billion, up from $35.5 billion in 2017. BetaShares identified three major predictions which would be expected to drive the ETF market further up in the coming months. The adoption of ETF model portfolios would increase as advisers would be seeking to add more efficiencies into their businesses and lower costs for clients. Additionally, more ETF strategists, investment consultants, portfolio construction specialists and robo-advisers were expected to enter the market. The fund […]
Moneysoft launches new website to support super fund focus
Financial technology company Moneysoft has launched a new website that showcases its growing range of services to large organisations including superannuation funds. One fund is currently running a pilot of Moneysoft’s Round-Ups solution, which forms a key component of Moneysoft’s new offering to institutions. Round-Ups lets people make small, frequent contributions to their investment accounts by automatically rounding up the spare change from everyday transactions into their super. It also allows members to automate or make one-off instalments into their super fund, bank account, or to pay off non-deductible debt, which fosters engagement and builds a foundation for more holistic personal financial advice. “Moneysoft’s push to large enterprises is a […]
Stablecoins could lead cryptocurrency growth in 2019
With Bitcoin making a shaky climb closer to $4000, the entire industry of cryptocurrency is still reeling from hitting a relative low on the year last week. Since the start of the year, the number one cryptocurrency by market capitalization is down nearly 80 percent since peaking close to $20,000 in December 2017. For some, the falling price of Bitcoin and the broader altcoin has raised the alarm and led to widespread selling out, negativity and a soured mood towards crypto and blockchain-based assets. Just yesterday, EWN reported on the significant number of crypto-based startups which have been forced either to close shop or make substantial staff cuts in response […]
How to take a FinTech through an IPO
Raiz Invest (previously Acorns Australia) launched in 2016, quickly amassing close to one million users. George Lucas, CEO is one of the more experienced founders in the FinTech NextGen series. Many CEO’s in financial services struggle to relate to the Millennial market, not so George and his Raiz Invest team. Discover his secrets in this interview with Dexter Cousins of Tier One People. How does Raiz Invest work? George:Raiz Invest is a micro investing platform, enabling users to invest in the markets with as little as five dollars all through an app on your mobile phone. Put simply, we enable users to save in the background of life. Raiz educates a potential […]
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 […]
BMY Group launches new digital platform AllFin
BMY Group is launching a new digital platform aimed at connecting Australian investment opportunities, products, professionals with Chinese investors, both domestically and overseas. Launching December 4, AllFin.com will matchmake companies, projects and investment managers seeking funding with relevant investors. It will also serve as a platform for thought-leadership, professional service providers and research in investment. BMY Group CEO Eric Gao said the platform is the natural evolution of BMYG’s business model, which has thrived on connecting Australian opportunities with Chinese investors. “In the last eight years, we have been working with high net worths and professional investors, to match them with opportunities, products and professional services in Australia,” Mr Gao says. […]
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, […]
