Mexico Is Getting Eight New Cryptocurrency Exchanges

Mexico Is Getting Eight New Cryptocurrency Exchanges

The company Amero-Isatek announced that it will open its first physical cryptocurrency exchange station in Nuevo León, Monterrey on June 21. It will also soon expand into another seven locations across Mexico. Amero-Isatek estimates that it will server over 800,000 cryptocurrency users in Central Mexico. Users of the exchange will trade in Amero, Amero-Isatek’s own cryptoasset. The asset launches on the day of the Nuevo León opening. The firm already made headlines early this year for participating in what it called the world’s biggest cryptocurrency real estate exchange.
Fintech-Related Lobbying Attracted $42 Million in Q1 2019

Fintech-Related Lobbying Attracted $42 Million in Q1 2019

In a bid to carry out their agendas, crypto firms have turned to lobbying. Citing statistics from the Federal Electoral Commission (FEC), news platform Roll Call reported that fintech firms spent $42 million as lobbying expenses in Q1 in 2019 alone. The report considered the lobbying efforts of firms such as U.S.-based cryptocurrency exchange Coinbase, Bitcoin payment app Square, MasterCard, IBM and others.

Thomson Reuters: развитию финтеха в России мешает административное давление

Россия занимает третье место в двадцатке крупнейших мировых рынков по частоте использования инновационных услуг в финансовой сфере. Тем не менее, основным препятствием для полномасштабного внедрения финтех-решений в стране являются административные барьеры. Об этом свидетельствуют результаты опроса, проведенного компанией Thomson Reuters среди сотни представителей российского финансового рынка, пишет Forex Magnates. Согласно данным исследования, абсолютное большинство компаний (84%) уделяют особое внимание финансовым технологиям в своей работе.

UK FinTech to Launch a Bitcoin Visa Debit Card with Support for Altcoins

A London-based fintech startup is planning on launching a prepaid Visa debit card, giving users the option to spend a range of cryptocurrencies across the U.K. On Tuesday, the London Block Exchange (LBX) launched, headed by an 18-year Credit Suisse veteran. Future plans with the fintech company include launching a sterling-to-cryptocurrency exchange in addition to a Visa prepaid debit card, called the Dragoncard, reports Business Insider.

FinTech Will Change More in the Next 5 Years Than the Last 30, Says PayPal CEO

PayPal’s CEO has said that the financial technology (fintech) sector is going to change more in the next five years than it has done in the last 30. Speaking with CNBC’s Mad Money host Jim Cramer, Dan Schulman, CEO of PayPal, said that millennials are changing the shape of many industries, in particular the finance sector. He said: You have to, to serve these markets, re-imagine how money can be managed and moved because there’s going to be more change in the next five years in financial services than happened in the past 30.

IFSB: Islamic FinTech Finance Bigger in Asia than First Thought

Islamic fintech finance in Asia is anticipated to be bigger than originally thought, says the acting secretary-general of the Islamic Financial Services Board (IFSB). Zahid ur Rehman Khokher, acting secretary-general of the IFSB, was speaking at the organisation’s headquarters in Kuala Lumpur to the Nikkei Asian Review. During an interview, Khokher discussed the role of the fintech sector and the measures IFSB is taking to apply it within Islamic finance.

Legendary Investor Jim Rogers Believes FinTech Will Replace Banks and Cash

Veteran investor Jim Rogers believes that banks must invest in the financial technology (fintech) space or they face being replaced. Chairman of Rogers Holdings and Beeland Interests, Inc. and co-founder of the Quantum Fund, the American businessman said that traditional banks need to improve their situation in the face of the growing fintech space. Speaking to China Daily, he said: My children will never walk into a bank when they become adults as by then all the banks along the streets will be replaced by computers and certainly mobile phones.

British Banks Are Shunning Bitcoin Companies

Companies that handle digital currencies are being forced to open bank accounts elsewhere as British banks continue to shun them. Investor interest in digital currencies has surged this year with bitcoin’s price rising to a record high of $6,200 over the weekend, pushing its market cap to $102.8 billion. Yet, despite this traditional banks remain weary of the market.
October Surprise: Ripple Price Surges 30% as RippleNet Adds 100th Member

October Surprise: Ripple Price Surges 30% as RippleNet Adds 100th Member

The ripple price has risen by 30% since the beginning of October, bolstered by the growth of RippleNet — the startup’s enterprise network — as well as anticipation for the company’s upcoming “Swell” conference next week. The price of XRP — the native currency of the Ripple Consensus Ledger (RCL) — has climbed significantly since the beginning of October. The ripple price entered the month at $0.198 and held there until October 4, when Korean traders initiated a rally. By October 8, the ripple price had climbed more than 20%, and it spiked as high as $0.

Malaysia is Perfect ‘Test Bed’ for FinTech Development: Central Bank

Malaysia’s central bank has said that the country is the ideal ‘test bed’ for developing financial technology (fintech) solutions. Marzunisham Omar, the assistant governor at the Bank Negara Malaysia, explained that the growth of the sector has provided innovative opportunities within the financial industry. He said: At its core, fintech has led to the creation of various business models that help improve and simplify financial transactions, which 10 or 20 years ago seemed impossible.

UK Businesses Adopting FinTech Save £4.6 billion Every Year

New research has found that a large majority of U.K. companies are adopting fintech (financial technology) applications, helping them save billions each year. The study was conducted by MarketInvoice who surveyed over 3,000 U.K. businesses between August and September 2017. The results found that 77 percent of U.K. companies are aware of fintech products and services.

Joint Report by Stellar and Luxembourg Fintech Platform: Approach ICOs with Caution

 Stellar, a nonprofit decentralized financial network, and the Luxembourg House of Financial Technology (LHoFT), the country’s dedicated fintech platform, have published a joint report on Initial Coin Offerings (ICOs). According to the report, organizations have raised over $1.8 billion through ICOs since January 2017.