Crypto Currency news, trends, and analysis.
Major banks are building out teams dedicated to cryptocurrencies and the future of finance. ...
Hong Kong-listed Credit China FinTech Holdings led the launch of the fintech fund with 11 other partners that consist of central state-owned enterprises, provincial investment funds, trust and securities firms and private equity firms; financial gain was not the main motivation of the fund as the participants are looking at exposure to the emerging fintech space and possible partnerships in the future; "China's fintech sector was started later than the West's but is expanding at an unparalleled pace compared with the West," Credit China Executive Director Sheng Jia said at the opening ceremony. Source
KPMG reports that fintech investment in Asia was $3.85bn in 2017, a significant drop from the more than $10bn invested in 2016; China was the biggest reason for the drop as the country saw only $1.3bn of investment in 2017; “Increasing government controls and regulations over fintech in China have kept many investors on the bench during 2017,” the report explained; one optimistic data point was corporate investment jumped in Q4 to 31 percent of overall deals. Source.
WeLab, a pan-Asian Fintech platform, has announced the acquisition of PT Bank Jasa Jakarta (BJJ), which is a commercial banking institution based in Indonesia, with plans to introduce its second digital bank in Asia 'further to the successful launch of WeLab Bank in Hong Kong.'
askRobin is based in Estonia but serves consumers in Latin America; the company first started in Mexico in late 2017,...
Digital bank Aspiration has created a new spend & save account which is similar to a high yield checking account;...
Aspiration, the digital bank that focuses on sustainability and conscious consumerism, just raised $135mn in new capital; the round was...
Aspiration has taken their marketing aim directly at some of the biggest banks by offering what they see is a better product and experience; “We’re not going after these banks for the sake of it, we’re talking about their actions and their approaches versus ours,” said CEO Andrei Cherny to TearSheet; the company does not charge ATM fees or monthly service fees and investments are done on pay what is fair basis; Aspiration is going beyond just the user experience by donating 10 percent of revenue to charity and focuses on whether customers spend at companies that are ethical and sustainable. Source.
A new survey by BlackRock of more than 200 institutional investors shows that only a quarter say technology is as important...