Banking business lending consumer lending fintech FinTech News payments square Square Capital Square Cash App 

Bitcoin-Friendly Square Uses App and Algorithms to Issue Business Loans

Payments company Square is moving into new markets by issuing business loans and will soon move to consumer lending. Its data collecting and analyzing algorithms are deciding creditworthiness letting borrowers arrange their loans in a few taps. According to WSJ reporting, one Texan food truck owner accepted a loan offer within the Square app, then went on to borrow $150,000 to open a gastropub. The borrower, Billy Joe Wilson, already used Square devices to process the credit card payments for his business. Square’s algorithms had been watching the transactions and…

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Banking FinTech News Revolut Robinhood 

Pro-Crypto Trading App Robinhood Adds Checkings & Savings Accounts

Menlo Park-based Robinhood has launched savings and checking accounts for its US customers, according to a company blog post. The new accounts would follow the similar trend that we have become accustomed to: “fee-free, commitment-free and surprise-free” were the words used lavishly on the company’s website. Robinhood, which operates a crypto trading platform in addition to its flagship stock trading service, is also disrupting what customers can expect to earn on their bank deposits. The startup promises to pay 3 percent interest for every deposit made in both checking and savings…

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Altcoin News bank of thailand cbdc FinTech News thailand 

No Central Bank Digital Currency Within 3-5 Years

Twitter Facebook LinkedIn Thai citizens will have to be patient in the wait for a retail central bank digital currency that will save them from carrying cash around. According to the governor of the Bank of Thailand (BoT), Veerathai Santiprabhob, plans to switch from cash to a digital currency will not happen within the ‘next 3-5 years’. This is because the process of creating a central bank digital currency (CBDC) ‘is not easy’ and is time-consuming due to the complex nature of the monetary system. Santiprabhob noted that though there…

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bitcoin FinTech News Johnny Depp Mark Cubin paris hilton steven seagal TaTaTu 

Johnny Depp Throws Hat into the Crypto Ring, Joins TaTaTu Platform

Announced today, Hollywood star Johnny Depp has signed a deal with a new cryptocurrency related platform called TaTaTu. The platform, like Depp himself, aims to provide social entertainment. A ‘New Approach’ To Entertainment With a name sounding like it’s from Pirate’s of the Carribean, TaTaTu is a cryptocurrency based platform that rewards users in tokens, as payment for interacting with certain content like movies and games (according to its website). The Hollywood Reporter news outlet announced today that Depp will work alongside Andrea Iervolino on the project. Iervolino is the businessman, entrepreneur, and movie…

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Bank of Mongolia Candy FinTech News Mobicom Mongolia regulation 

Mongolia Issues First Digital Currency License to Local Telecom Operator

Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill. As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital currency license to Mobifinance — the fintech arm of Mobicom, the largest mobile phone provider in Mongolia. Зөвхөн Мобикомын хэрэглэгчид ашиглах боломжтой байсан Candy өдгөө Монгол орон даяар аль ч операторын хэрэглэгч ашиглах боломжтой болж…

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Blockchain News FinTech News Funding Goldman Sachs google Marwan Forzely Veem 

Google-Backed Fintech Startup Uses Bitcoin for Cross-Border Settlement

Veem, a cross-border payments platform that uses bitcoin to move funds among businesses without the need of banks, has raised $25 million in a round led by Goldman Sachs, according to Forbes. The service, which does not require either counterparty to hold bitcoin directly, has quadrupled its revenue in the past year. Also participating in the funding round were GV (previously known as Google Ventures), Kleiner Perkins, Pantera Capital, Silicon Valley Bank, and Trend Forward Capital. Founded by Marwan Forzely, who previously developed and sold a service to Western Union to…

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Blockchain News CoinSquare FinTech News Funding LDGR Toronto Stock Exchange trading 

Coinsquare Lists Blockchain ETF On Toronto Stock Exchange

Coin Capital Investment Management Inc. (Coincapital), the portfolio management division of the Coinsquare digital asset trading platform, has listed a blockchain exchange traded fund (ETF), the STOXX Blockchain Patents Innovation Index Fund (LDGR), among two new ETFs the company has listed on the Toronto Stock Exchange. Coincapital, which is registered with the Ontario Securities Commission, has become Canada’s newest ETF provider following the introduction of the LDGR and the STOXX B.R.AI.N. Index Fund (THNK), the company’s first ETFs.   The LDGR and THNK ETFs were scheduled to commence trading on…

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Altcoin News Australia Bit Trade Emparta FinTech News 

Australia’s First Dollar-Backed Crypto Stablecoin to be Launched in 2019

Just like has already happened with the US Dollar and the Euro, among others, Australia is about to get its first Aussie-backed stablecoin. This will be made possible by a partnership between Bit Trade, one of the oldest cryptocurrency exchanges in Australia, and blockchain employment platform, Emparta. The two firms will collaborate in designing and launching the stablecoin which is expected to be launched next year. We’re partnering with @Emparta to launch Australia’s first currency-backed #stablecoin! Find out more. #BitTrade #Emparta #cryptocurrency — Bit Trade (@btradeio) September 20, 2018…

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Bitcoin Law FinTech News R3 ripple Ripple News XRP 

Ripple, R3 Reach Settlement in Multibillion Dollar Cryptocurrency Lawsuit

Blockchain companies Ripple and R3 have reached an undisclosed settlement on “all outstanding litigation,” putting an end to a legal spat involving a tranche of cryptocurrency tokens once worth as much as $19 billion. In a brief statement published on Monday, the San Francisco-based Ripple announced the settlement, stating that the terms would remain confidential. “R3 HoldCo LLC, R3 LLC, Ripple Labs Inc. and XRP II, LLC announce that they have reached a settlement of all outstanding litigation between the parties. The terms of the agreement will remain confidential and…

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Blockchain News Central Bank Digital Currency central banks FinTech News india Reserve Bank of India 

India is Exploring a Central Bank Digital Currency for Payments

The Reserve Bank of India (RBI) joins a growing list of global counterparts in exploring a central bank digital currency (CBDC) that would constitute the digital equivalent of the Indian rupee. The RBI has established an inter-departmental group to explore the demand and plausibility of a blockchain-based digital currency to be used in domestic payments, the central bank said in its Annual Report 2017-18 [PDF] released on Wednesday. The monetary regulator cited “rapid changes” in the global payments industry bought on by disruptive factors like the “emergence of private digital…

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