digi.cash launches digital Australian dollar
digi.cash, a spin-off company of the Capital Markets CRC, today officially launched the digital Australian dollar. The electronic version of the currency is digitally ‘minted’ as electronically signed coins and banknotes. These can be held on smartphones, computers or storage media. Just like cash, online users can transfer coins and notes between each other via free, instant transactions. The encryption technology used means that the electronic banknotes can securely circulate over public communication networks, without the risk of theft or counterfeiting. Digi.cash founder Andreas Furche, along with Chairman David Skellern and Director Peter Clare, said the launch represented a fulcrum moment for Australian FinTech. “Unlike other digital money products, digi.cash […]
Kerry Agiasotis of WUBS: Win-win when rivals turn partners
One of the world’s largest non-bank providers of international business payment solutions says aspiring fintech companies should seek to pursue partnerships with their big company rivals rather than fighting them if they want their ideas to reach their full potential. The chief executive of Western Union Business Solutions, the dedicated business payments unit of the New York Stock Exchange-listed Western Union Company, said the firm was increasingly looking to partner with fintechs and other start-ups. WUBS is primary spot foreign currency trading provider to 20 per cent of the SME market in Australia and secondary provider to another 20 per cent, including the big four banks. It has more than […]
Fintech needs security baked in from the start
Fintech has been labelled a modern day gold rush fuelled by ambitious entrepreneurs and innovative technologies and consumer demand. KPMG and CB Insights’ “The Pulse of Fintech”report found that global investment in fintech currently sits at $13.8 billion with $4.5bn invested in the Asia-Pacific, across 140 deals. But as the relationship between new technologies, such as bitcoin and blockchain, and financial services deepens, so do the threats posed by increasingly sophisticated hackers. No market is more affected by cybercrime than financial services. PricewaterhouseCoopers’ 2016 Global Economic Crime Survey found that 48 per cent of financial sector respondents reported to have been affected by cybercrime, compared with 36 per cent across […]
Chinese fintech startups see Stone & Chalk as a springboard for growth
A delegation of a dozen entrepreneurs from three of China’s most promising fintech startups have arrived in Sydney for a three-month residency at Stone & Chalk, where they will help educate Australian startups on launching into China while using mentoring from the hub as a bridge for their own expansion into other Western markets. In a sign of closer fintech trade ties between Australia and China, Stone & Chalk on Wednesday launched its Fintech Asia incubation exchange, which it describes as the first cross-border fintech incubator between Australia and Asia. The Commonwealth and NSW governments have funded the flights and accommodation for the 12 staff of the three startups, who […]
BPS Technology further expands Bartercard operations in USA
BPS Technology continues to execute its Bartercard growth strategy in North America, opening new franchises in New Hampshire, Alabama and Georgia, with at least four more US franchises in the pipeline Leading financial technology platform provider BPS Technology Limited (ASX: BPS, “the Company”) is pleased to announce that it has continued to expand the reach of its Bartercard operations in North America. BPS has recently opened three new Bartercard franchises in Mobile (Alabama), Portsmouth (New Hampshire) and Savannah (Georgia). Mr Paul Bolte, President and Chief Executive of Bartercard USA, said of the new franchisees: “Bartercard is pleased to see our franchise growth strategy working, as we have now brought on […]
A VC’s perspective on Blockchain opportunities & impacts on Australia
by Victor Jiang, Managing Partner, Sapien Ventures LLP. I was truly honoured to have presented to and judged alongside a distinguished panel (from ANZ, Westpac, UBS, & Northern Trust) and key industry leaders at the inaugural Australian Blockchain Summit 2016 (Melbourne June 28-30th, 2016), and to have a chance to speak about what we felt are the opportunities and impacts of Blockchain on Australia. (The speech was immediately before a pitch/showcase session of 6 excitingly disruptive blockchain startups from USA and Australia, including one dialling in from 3am in their local time!) __________________________________ I’m really excited and honoured to be here, speaking just ahead of some truly exciting startups in the blockchain space. […]
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Australian globally-regulated forex & CFD broker established in 2005 offering >10,000 trading instruments.
