Thank You & Merry Christmas!
From the team at Australian FinTech, we’d like to say a massive THANK YOU to everyone who has supported us over the past 12 months.
Nimble to exit payday lending
“While we transition from the payday lending market, we are building a strong suite of products which will eventually fill this void,” said CEO Gavin Slater.
ATO gathers bulk data from crypto exchanges
The ATO is ingesting bulk records from local cryptocurrency businesses as part of its compliance efforts and were being used for a data-matching program.
Swiss watchmaker develops $100K timepiece with built-in crypto wallet
Swiss-based watchmaker A. Favre & Fils is developing a luxury timepiece that would be able to store cryptocurrencies, local media agency swissinfo.ch reported on Thursday. The company traces its history back to 1718 and can be viewed as one of the oldest watchmakers in Switzerland. It intends to build a new form of digital wallet that would have mechanical elements integrated. The crypto watch would combine the current technology behind digital assets with Switzerland’s traditional craft. The cost of one unit will range between $102,000 and $153,000. Laurent Favre, founder and CEO of A. Favre & Fils, told the media that the company planned to make the mechanical watch relevant […]
Australia punches above its weight with Blockchain Innovation
ACS, the professional association for Australia’s ICT sector, today announced the publication of Blockchain Innovation: A Patent Analytics Report at Barangaroo, Sydney. Through providing insight into innovators in blockchain technology – based on patents filed – the report will assist both businesses and governments in understanding the technology and the degree to which it is a critical enabler for continued economic growth. ACS President Yohan Ramasundara said, “Blockchain has been hyped as one of the most transformative and disruptive technologies on the immediate horizon. With the global market forecast to grow to US$60 billion by 2024, Australian businesses and governments alike have ample opportunity to leverage the technology as it matures.” The […]
Australian financial regulator to focus on ICOs and cryptocurrency exchanges
In its 2018-22 corporate plan report, the Australian Securities & Investments Commission (ASIC) revealed it would be focusing on cryptocurrencies with an emphasis on ICOs and exchanges. The Australian Securities and Investments Commission (ASIC) published a report this week that details its plans to tightly scrutinize the crypto industry in the country. The areas of great focus, according to the regulator, will be on crypto exchanges and Initial Coin Offerings (ICOs). The detailed report was part of the regulator’s ‘Corporate Plan 2018-2022′, which explained its plans for 2018 and 2019. ASIC’s mandate includes oversight over the country’s financial services, markets, corporate investments, and consumer credit. ASIC mitigating crypto risk for […]
Australia’s plans to embrace cryptocurrencies through progressive laws
When cryptocurrencies were designed, the idea of the government or its financial institutions meddling into the affairs of the digital currency were not envisioned. Indeed, cryptocurrencies like Bitcoin were designed to give users the freedom to transact without central regulation. It was probably not anticipated that these currencies would gain so much interest around the world. But since that has happened, the regulatory authorities have found it hard to stay away from the cryptos. Recent news has indicated that governments around the world are keen on easing the tension between the traditional perception institutions have had on cryptocurrencies. Some of the issues that are at the fore currently are how […]
2018-19 Budget steady for Australian fintech – but the big news is yet to come
Australia’s fintech industry will benefit from a number of important support measures in last night’s 2018-19 Australian Budget but will be forced to wait for the big news about the details of Australia’s open banking framework. FinTech Australia chair Stuart Stoyan said he welcomed a number of funding measures outlined in the budget. These included: $44.6 million over four years from 2018-19 to help Australian consumers to more easily access and use their own data, with the banking sector to be the first Australian industry sector to be subject to this consumer right. $700,000 in 2018-19 for the Digital Transformation Agency to investigate areas where blockchain technology could ‘offer the […]
