finextra.com Archives - 27 September 2016, Tuesday

  • MarvelStone Group to launch 'world's largest' fintech hub in Singap...

    finextra.com 21 Sep '16, 9am

    The 30,000 square foot facility will have a global reach, providing work spaces, events and educational programmes for fintech startups as well as innovation support schemes for existing companies and financial institutions. Joe Seunghyun Cho, chairman of Marvelstone Group comments: "...

  • US judge says Bitcoin is money

    finextra.com 20 Sep '16, 1pm

    , Anthony Murgio had argued that two of the eight criminal charges he faces in connection with his alleged operation of Coin.mx should be dismissed because Bitcoin does not qualify as "funds". But US District Judge Alison Nathan in Manhattan rejected the bid, writing: "Bitcoins are fu...

  • Adding to the chaos, Singapore Fintech Festival

    Adding to the chaos, Singapore Fintech Festival

    finextra.com 15 Sep '16, 3am

    Those who follow the Fintech Sector closely in Singapore are surely having the time of their life. It’s that time of the year approaching where the craze and euphoria for a particular sector is at its crescendo. Almost reaching the levels of yearly F1 jamboree. Adding to the chaos is ...

  • Singapore and Switzerland forge fintech pact

    Singapore and Switzerland forge fintech pact

    finextra.com 13 Sep '16, 9am

    The agreement between the Monetary Authority of Singapore (MAS) and the Swiss Financial Market Supervisory Authority (Finma) is the latest in a series of bilateral treaties between domestic regulatory bodies aimed at supporting the international fintech community. The two authorities ...

  • Blockstream buys bitcoin wallet software provider GreenAddress

    finextra.com 27 Jul '16, 5pm

    Blockstream buys bitcoin wallet software provider GreenAddress 23 hours ago | 2947 views | 0 Source: Blockstream We're pleased to announce that we've acquired GreenAddress, a leading bitcoin wallet software provider based in Europe. GreenAddress has a demonstrated track record of deli...

  • Singapore transit system to trial contactless bank card payments

    finextra.com 26 Jul '16, 12am

    The LTA says it plans to enrol at least 100,000 people in the account-based ticketing system trial, which will save commuters the hassle of having to use a separate transit card and make fare top-ups. The pilot, set to begin by the end of the year, will also let users track their jour...

  • Startupbootcamp hosts fintech day in Singapore

    finextra.com 15 Jul '16, 10am

    Attracting more than 600 guests from across the financial sector, including leading investors from Southeast Asia, this year’s startups tackled FinTech areas from InsurTech and wealth management to personal finance management. These 10 startups went through an intense 3-month accelera...

  • IBM to open first 'Centre for Blockchain Innovation' in Singapore

    finextra.com 12 Jul '16, 11am

    Over the next three years, the Centre Will be working to deliver a number of technology pilots across the finance and trade industries, tapping into the nation's technical talent pool and building on IBM's work with the Linux Foundation Hyperledger platform. The involvement of the Mon...

  • Thomson Reuters Org ID says meets Singapore banks' KYC practices

    finextra.com 07 Jul '16, 8pm

    “Our customers today demand compliance to global standards as well as meeting the needs of their local regulators,” said Dominic Mac, global head of Business Development, Risk Managed Services, Thomson Reuters. “We are the first and only global KYC managed services provider to have pr...

  • Bank payment networks to prevail over bitcoin - Citi

    finextra.com 01 Jul '16, 2pm

    The bank's research team cites problems like scalability, network adoption and lack of a legal/regulatory framework for dispute resolution as drawbacks to more widespread adoption of the virtual currency. The report points to social payments network Circle, financial inclusion outfit ...

  • Singapore regulator proposes fintech sandbox

    finextra.com 06 Jun '16, 10am

    The proposal will enable firms to experiment with new technology in an environment of relaxed rules and appropriate safeguards. "MAS aims to provide a responsive and forward-looking regulatory approach that will enable promising fintech innovations to develop and flourish," said MAS d...

  • Telstra expands network to Hong Kong, Singapore and Tokyo

    finextra.com 31 May '16, 2pm

    Matthew Lempriere, Telstra’s Head of Financial Markets, said EPLX utilised Telstra’s extensive submarine cable network to offer low latency connectivity for financial traders and these new routes added to the existing Telstra EPLX network connecting with financial markets in London, C...

  • Samsung Pay wins Citi support for Singapore launch

    Samsung Pay wins Citi support for Singapore launch

    finextra.com 31 May '16, 11am

    Samsung has already won around Singapore's major banks as it prepares for the launch of its service in Q2. The company is hoping the deal with Citi will give it the edge over rival Apple, which last week announced that it had lined up five major banks, extending the use of the mobile ...

  • Five major banks lined up to support Apple Pay launch in Singapore

    finextra.com 25 May '16, 8am

    MasterCard says it is working with DBS, OCBC, POSB, Standard Chartered and UOB, to enable iPhone and Apple watch users to make purchases in stores equipped with contactless readers. Recent figures from MasterCard indicate that consumers in Singapore are supportive of the idea of adopt...

  • UK and Singapore establish 'fintech bridge'

    UK and Singapore establish 'fintech bridge'

    finextra.com 11 May '16, 6pm

    Billed as the first of its kind, the bridge sees the UK's Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS) ink a regulatory cooperation agreement on sharing and using information on financial services innovation in their respective markets. Dominated by ...

  • Samsung Pay pushes into SouthEast Asia with Singapore launch

    Samsung Pay pushes into SouthEast Asia with Singapore launch

    finextra.com 20 Apr '16, 11am

    Singapore will join South Korea, US and China in the list of Samsung’s priority markets for roll out of the mobile payment service. The tech giant says the service will cater to a positive demand in Singapore where 71% of 400 Samsung users interviewed in February indicated interest in...

  • Monetary Authority of Singapore to run week-long 'Fintech Festival'

    finextra.com 13 Apr '16, 8am

    Running with the support of the Association of Banks in Singapore (ABS), the November festival will comprise a 'fintech hackcelerator', an awards ceremony celebrating the most creative applications emerging from the sector, and conferences and debates on risk and regtech. Innovation l...

  • R5 goes live in Singapore

    finextra.com 08 Apr '16, 8am

    R5, the emerging marketplace for local market FX trading, announces that live trading has commenced in Singapore, following its authorisation from the Monetary Authority of Singapore (MAS). R5 went live with its London clients during the last quarter of 2015, for eNDF trading. It’s AS...

  • Singapore ponders Paym-style payments platform

    finextra.com 05 Apr '16, 11pm

    The all-in-one addressing system - which would mean senders would not need a recipient's bank account details - is being explored by banks and the Monetary Authority of Singapore (MAS), the organisation's managing director, Ravi Menon, revealed during a panel discussion. Menon says th...

  • Singapore sets up fintech office for startups

    Singapore sets up fintech office for startups

    finextra.com 01 Apr '16, 9am

    The office, described as a one-stop service for fintech startups, is part of the SG-Innovate initiative announced in the March budget speech by finance minister Heng Swee Keat as Singapore steps up its plan to promote itself as the leading fintech hub in Asia. Banks such as HSBC, UBS ...

  • Standard Chartered opens Singapore innovation lab

    Standard Chartered opens Singapore innovation lab

    finextra.com 23 Mar '16, 9am

    The 'eXellerator' builds upon Standard Chartered’s established technology outpost in Silicon Valley, SC Studios, and is the bank's first dedicated space for innovation in Asia, located at the heart of its main office building at Marina Bay Financial Centre. Anju Patwardhan, Standard C...

  • Will bitcoin provide banks with their 'Kodak Moment'?

    Will bitcoin provide banks with their 'Kodak Moment'?

    finextra.com 16 Mar '16, 12am

    It has been hailed as the internet of money, criticised for fuelling an illicit trade in drugs and weapons, allegedly aided terrorism, been touted as a libertarian dream and as a way of flouting capital controls (although actual use cases in China, Greece and Cyprus are hardly conclus...

  • PR: OpenCart Online shops add bitcoin payment option

    finextra.com 16 Oct '15, 8am

    OpenCart Online shops add bitcoin payment option 1 hour ago | 1399 views | 0 Source: Bitcoinpay BitcoinPay.com, the European Bitcoin Payment Processor, is proud to announce that online stores utilising the OpenCart Online Shopping Solution can now easily integrate bitcoin and money pa...

  • PR: Ingenico to bring bitcoin payments to the POS

    finextra.com 07 Oct '15, 11am

    The project is an industry first, allowing a POS terminal device to receive a digital currency payment. While bitcoin is most often used for ecommerce payments, the current Ingenico and BitPay project will make it possible to introduce bitcoin payments to retail merchants on a global ...

  • daily

    blog: Where are bitcoin transaction volumes heading?

    finextra.com 07 Sep '15, 6am

    For the year-to-date at the end of August 2015, the total number of bitcoin transactions has increased by 70% over the same eight-month period in 2014. For the month of August 2015, the average daily volume of Bitcoin transactions was 115 thousand transactions per day, a 69% increase ...

  • Barclays to tap Bitcoin for charity donations #fintech

    news: Barclays to tap Bitcoin for charity donations

    finextra.com 31 Aug '15, 2pm

    Barclays to tap Bitcoin for charity donations 2 hours ago | 1234 views | 0 Barclays is preparing a Bitcoin pilot that will enable people to make donations to charities in the cryptocurrency, according to the Sunday Times. The bank is working with an unnamed Bitcoin exchange on the exp...

  • news: Australian Senate says bitcoin should be treated as a regular currency

    finextra.com 04 Aug '15, 2pm

    Australian Senate says bitcoin should be treated as a regular currency 21 hours ago | 2479 views | 0 The Australian Senate says that digital currency transactions should be treated in the same way as fiat for the purposes of taxation, overturning a previous judgement from the country'...

  • news: BNP Paribas explores the blockchain; SocGen advertises bitcoin-related job

    finextra.com 24 Jul '15, 1pm

    France's biggest bank, BNP Paribas, is investigating the distributed ledger and "how it can be applied to post trade processes to make things faster and potentially cheaper," a spokesperson has confirmed, but stresses "it's all very much projects and it's all in testing. It's nothing ...

  • Bitcoin incubator opens in Chicago

    news: Bitcoin incubator opens in Chicago

    finextra.com 13 Jul '15, 11pm

    Based at 1871, the city's hub for digital startups, the Chicago Bitcoin Center promises to "foster a new wave of technological innovation on the blockchain". A similar operation launched in New York last year. Firms joining the centre will get office space, access to mentorship from b...

  • news: Singapore pledges S$225m to fintech

    finextra.com 01 Jul '15, 1am

    Monetary Authority of Singapore (MAS) managing director Ravi Menon revealed the investment (around US$167 million) in the Financial Sector Technology & Innovation (FSTI) scheme during a speech . The money will be used to help convince banks to set up their R&D and innovation labs on t...