FinTech Australia announce finalist for The Finnies 2018
FinTech Australia and Jobs for NSW have come together for the second year to host the national fintech awards, The Finnies. The Finnies will culminate in a Gala Awards Night Wednesday 13 June 2018 in Sydney. For more information go here. Here is the full list of finalists for the 2018 Finnies: Best Workplace Diversity ● BRICKX ● FirstStep Investments ● Link4 ● Valiant Finance Emerging FinTech Leader of the Year ● Brad Delamare – CEO, Tank Stream Labs ● Louis Edwards – Head of Renewable Energy Finance, RateSetter Australia ● Nick Molnar – Co-Founder & CEO, Afterpay ● Jack O’Reilly – Director, funding.com.au ● Rebecca Schot-Guppy – Community Manager, […]
Raiz Invest to list on ASX with a $120m valuation
Raiz Invest, the micro-investment fintech, has lodged a prospectus with the corporate regulator for a June float in a deal that will value the start-up at around $120 million. As flagged by The Australian Financial Review’s Street Talk column last week, the initial public offering for Raiz, formerly known as Acorns Grow Australia, will raise just over $15 million. The shares, which have an offer price of $1.80, are due to begin trading on the ASX on June 21. The offer has been fully underwritten by Bell Potter and is understood to be two times oversubscribed with strong support from institutions in Hong Kong. Raiz has plans to expand in […]
Sydney blockchain integrator strikes virtual deal for virtual currency project
Australia’s IoT Group (ASX:IOT) has struck a “cornerstone” agreement with Royalti Blockchain Group to kit out its proposed Hunter Valley power plant cryptocurrency mining project with Bitfury servers, but the deal has a very long way to go before becoming a reality. The Australian Securities Exchange (ASX)-listed IoT Group said on 7 May that its subsidiary IoT Blockchain had signed a conditional binding terms sheet with Royalti Blockchain Group, an authorised Australian integrator for blockchain technology company Bitfury. The idea behind the deal is that Royalti Blockchain Group will house Bitfury’s cryptocurrency mining servers in Australia at IoT Group’s proposed Blockchain Applications Complex in the Hunter Valley, NSW. The publicly-listed […]
ASX details timeline, features for new blockchain-inspired system
ASX Limited, the operator of the Australian Securities Exchange, has released new details of the system inspired by Bitcoin’s blockchain technology that will replace CHESS: The ASX’s Clearing House Electronic Subregister System. CHESS provides clearing, settlement and other post-trade services for the exchange. ASX in early 2016 revealed that it had acquired a stake in New York-headquartered Digital Asset Holdings, which develops blockchain-inspired distributed ledger technology (DLT). The intention was to explore whether a DLT-based system could potentially replace CHESS, which was originally rolled out in 1994. Although the exchange operator has emphasised that CHESS is stable and continues to function effectively, ASX says that replacing it with a blockchain-style […]
‘Burning’ coins: how Bitcoin Cash became the world’s hottest cryptocurrency
Bitcoin Cash is the hottest cryptocurrency around right now for more reasons than you may imagine. The offshoot of the biggest digital token has surged about 25 per cent since Friday, in part because Antpool, one of the largest mining groups, is “burning” a portion of the coins it receives in exchange for solving the complete mathematical puzzles that serve as the backbone of the network, potentially reducing supply and driving up the value. The manoeuvre is the latest salvo in an escalating battle between backers of Bitcoin and Bitcoin Cash, which was spun off last year. Through a war of words playing out on Twitter and Facebook, some of […]
Novatti makes commercially astute blockchain move
Online payments processor Novatti Group (ASX: NOV) has made a commercially-astute move into blockchain payments by integrating its proprietary payments platform with The Stellar Network, an open-source protocol for exchanging money used via shared servers and “forming a global value exchange network”. In essence, Stellar is a blockchain-payment and asset transfer platform connecting banks, payment systems and customers with a network of low-cost financial services providers, including financial institutions, payment aggregators and technical specialists. The prime feature which attracts users is the commonly-shared commitment to support a new and inclusive global infrastructure for payments. Stellar is growing rapidly and sports a proprietary “native asset” digital currency called the Lumen. Its […]
The future of money relies on digital
by Carlo Lacota, Head of Banking and Financial Services, ANZ at Cognizant The era of digital disruption has brought new challenges involving security, privacy, and technology access. It is therefore imperative for financial services providers to take stock and consider how to deepen their customer relationships. The inability to capitalise on the opportunity that digital brings to attract and retain customers will increase churn velocity and further increase cost as customer retention costs far less than acquisition. Our relationship with money is broken A recent global study by Cognizant revealed that people’s relationship with money is broken, with over half of the study respondents saying money and […]
