finextra.com Archives - 31 July 2015, Friday

  • 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...

  • Singapore

    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...

  • news: Greeks flock to Bitcoin

    finextra.com 30 Jun '15, 6pm

    Ahead of a referendum on creditor proposals for Greek reforms in return for vital bailout funds, this week the country's banks are shut and a EUR60 daily withdrawal limit has been imposed. The move appears to have prompted many to turn to cryptocurrencies. Bitstamp says that trades fr...

  • PR: Singapore's largest online marketplace to accept DBS mobile wallet

    finextra.com 10 Jun '15, 10am

    From mid-June onwards, customers shopping on Qoo10.sg will be able to pay for their purchases using DBS PayLah!, the fastest-growing personal mobile wallet in Singapore. The move by Qoo10.sg to tap on DBS PayLah! reflects how readily Singaporeans have embraced mobile technology and ho...

  • PR: Singapore-based fintech startup Mesitis raises $3m

    finextra.com 05 Jun '15, 2pm

    Singapore-based fintech startup Mesitis raises $3m 18 hours ago | 1138 views | 0 Source: Mesitis Mesitis, a financial technology company focused on the wealth industry, today announced that it has closed US$ 3 million (SG$ 4.05 million) in Series A funding to accelerate the roll-out o...

  • Bitcoin startup Xapo adds Wall Street heavyweights to advisory board

    news: Bitcoin startup Xapo adds Wall Street heavyweights to advisory board

    finextra.com 26 May '15, 6pm

    Bitcoin wallet and cold-storage vault outfit Xapo was set up by Lemon founder Wences Casares, and has so far raised $40 million in funding from the likes of Benchmark, Greylock Partners and Index Ventures. The appointment of three members of the Wall Street establishment comes as bank...

  • Online scammers target lonely hearts and bitcoin fans #fintech

    news: Online scammers target lonely hearts and bitcoin fans

    finextra.com 21 May '15, 6pm

    Online scammers target lonely hearts and bitcoin fans 22 hours ago | 2087 views | 0 Cybercrooks are increasingly targeting lonely hearts and cryptocurrency enthusiasts, scamming them out of their savings, according to the FBI. In its annual report , the bureau's Internet Crime Complai...

  • Nasdaq makes trading platform sale to bitcoin startup

    news: Nasdaq makes trading platform sale to bitcoin startup

    finextra.com 24 Mar '15, 11am

    Nasdaq's X-stream trading technology system, which is currently used by more than 30 exchange-trading venues globally, will be implemented by New York-based Noble Markets to power its up-and-coming digital currency marketplace. Noble Markets founder and CEO John Betts previously heade...

  • Bitcoin's Black Friday 'bonanza'

    finextra.com 05 Dec '14, 12pm

    According to figures amassed by Bitnet, Black Friday proved the more popular day for the crypto-currency crowd, with total spend rising to $152 million, compared to $144 million on Cyber Monday. While the numbers are impressive for an emerging unit of account, they are dwarfed by the ...

  • Finextra: Bitpay and Bitstraat bid to turn Amsterdam into the world's Bitcoin capital

    finextra.com 03 Dec '14, 7pm

    Bitstraat provides a tablet-based POS terminal for accepting Bitcoin payments. Processing is carried out by Bitpay with transactions directly converted into euros and retailers never in possession of the cryptocurrency. Merchants can either pay EUR10 a month or EUR120 upfront for the ...

  • Finextra: BNP Paribas: The five ways Bitcoin can shake up the financial services world

    finextra.com 12 Nov '14, 10am

    In an article for the bank's inhouse magazine, Johann Palychata a research analyst at BNP Paribas Securities Services provides five examples of the way in which bitcoin and the blockchain backbone could turn the financial services sector on its head. In its first incarnation as a mean...

  • Finextra: Dutch entrepreneur injects bitcoin wallet under his skin

    finextra.com 11 Nov '14, 9am

    Dutch entrepreneur injects bitcoin wallet under his skin 2 hours ago | 1590 views | 1 A dutch crypto-currency fanatic has implanted two NFC tags under the skin in his hands to store his digital cash. Martijn Wismeijer, who runs a company called MrBitco.in in his native Amsterdam, had ...

  • Finextra: NCR to offer bitcoin payments via iPOD POS; activates cash function at video ATM

    finextra.com 10 Nov '14, 2pm

    Bitcoin support, which will be integrated with NCR Silver by the end of 2014, will be free to merchants. Merchants must first register with a bitcoin processor in order to activate the currency as a payment option. Consumers pay using a mobile bitcoin wallet app available in the Apple...

  • Finextra: Bangladesh threatens jail time for bitcoin users

    finextra.com 16 Sep '14, 10am

    In a statement, the bank warns that the cryptocurrency is "not a legal tender of any country" and that using it is a "punishable offence" under recently introduced anti-money laundering laws. "Transactions through bitcoin or any other cryptocurrency like it is not recognised by the Ba...

  • Santander commissions study on bitcoin's impact on banks #fintech

    Finextra: Santander commissions study on bitcoin's impact on banks

    finextra.com 26 Aug '14, 10am

    Santander has given a $5000 budget to Yegii - a self-described "insight network" set up by Trond Undheim, a senior lecturer at MIT Sloan School of Management - to write the report. In turn, Yegii is asking people to put themselves forward as members of its "dream team" comprised of a ...

  • Finextra: French to boost bitcoin transparency; Finns to broadcast bitcoin data through TV network

    finextra.com 14 Jul '14, 9am

    The new regulation, set out by the country's finance ministry in response to a report by its Tracfin money laundering unit, will come into effect at the end of the year. The ministry has also changed its tax rules, following in the footsteps of the UK and US by making profits on bitco...

  • Finextra: European banks told to avoid bitcoin

    finextra.com 04 Jul '14, 12pm

    European banks told to avoid bitcoin 2 hours ago | 1286 views | 0 Europe's financial institutions should steer clear of virtual currencies such as bitcoin until a regulatory regime is in place, the European Banking Authority (EBA) has warned. In an opinion document for the EU Council,...

  • Finextra: Intuit to process bitcoin payments with QuickBooks Online

    finextra.com 26 Jun '14, 11pm

    Intuit's new PayByCoin service is made possible via an integration between QuickBooks Online and bitcoin wallet outfit Coinbase. To use the service, small business operators must register with Coinbase and link their wallets to their existing QuickBooks Online account. When a customer...

  • Finextra: Canada brings in bitcoin regulations

    finextra.com 24 Jun '14, 9am

    The new law means that firms dealing in virtual currencies will be classified as 'money services businesses' and therefore subject to record keeping, verification procedures, suspicious transaction reporting and registration requirements. Bitcoin dealers will be required to register w...

  • Finextra: Wells Fargo and JPMorgan take contrasting stance on bitcoin

    finextra.com 24 Jan '14, 12pm

    Wells Fargo and JPMorgan take contrasting stance on bitcoin 22 hours ago | 1997 views | 1 Wells Fargo and JPMorgan have highlighted the contrasting views in US banking circles over the future viability of bitcoin, with the former willing to engage and the latter airily dismissing the ...

  • Chinese can now buy real estate with Bitcoin

    Chinese can now buy real estate with Bitcoin

    finextra.com 08 Nov '13, 6am

    Bitcoin acceptance in China has now extended into real estate with a residential developer in Zhangjiang Hi-Tech park in Shanghai finding a new way to promote sales through the acceptance of Bitcoin virtual currency. Shanda Group, one of the large IT giants in China, through its real ...

  • Finextra: Start-up raises $9m to take bitcoin mainstream

    finextra.com 01 Nov '13, 12am

    Start-up raises $9m to take bitcoin mainstream 22 hours ago | 1743 views | 0 US start-up Circle has secured $9 million in funding as it bids to bring digital currencies such as bitcoin to mainstream businesses and consumers. Despite the hype it has garnered in recent months, bitcoin i...

  • Finextra: Dwolla kills support for bitcoin

    finextra.com 11 Oct '13, 12pm

    In a vague e-mail to bitcoin exchange BitBox and other merchant customers, Dwoll hints at regulatory concerns, saying that "recent interest" in virtual currency has created "uncertainty and confusion", including about the firm's "relationship with a small number of its exchanges". The...

  • Finextra: Dwolla kills support for bitcoin

    finextra.com 11 Oct '13, 10am

    In a vague e-mail to bitcoin exchange BitBox and other merchant customers, Dwoll hints at regulatory concerns, saying that "recent interest" in virtual currency has created "uncertainty and confusion", including about the firm's "relationship with a small number of its exchanges". The...

  • Finextra: Bitcoin firms meet UK govt officials as regulation looms

    finextra.com 06 Sep '13, 11am

    Bitcoin firms meet UK govt officials as regulation looms 7 hours ago | 1042 views | 0 Representatives from the bitcoin community met UK government officials in Downing Street this week amid claims that the Financial Conduct Authority is considering regulating the virtual currency. Rep...

  • Finextra: Tradehill suspends bitcoin trading in face of regulatory heat

    finextra.com 30 Aug '13, 12pm

    Tradehill suspends bitcoin trading in face of regulatory heat 23 hours ago | 1304 views | 0 Bitcoin exchange Tradehill has temporarily shut down trading, citing "banking and regulatory" issues related to its credit union partner. In a statement on its Web site, the firm says the "deci...

  • #Bitcoin is real - get over it... via @Finextra my latest post

    Bitcoin is real - get over it...

    finextra.com 08 Aug '13, 6pm

    Regulators are primarily concerned about Money Laundering and anonymity when it comes to BitCoin. While no regulator really imagines that Bitcoin will ever replace a currency like the USD or EUR, there is a perception that leaving Bitcoin unregulated will allow the free flow of illega...

  • US judge rules bitcoin is real money

    finextra.com 08 Aug '13, 9am

    Last month the Securities and Exchange Commission charged Trendon Shavers with running a bitcoin Ponzi scheme through his Bitcoin Savings and Trust (BTCST), which raked in 700,000 bitcoins, worth $4.5 million, from unwary investors. Shavers argued that the case should be ditched becau...

  • Bitcoin exchange Bitstamp chooses GBGroup for identity verification

    finextra.com 29 Jul '13, 1pm

    The technology will enable Bitstamp to verify hundreds of new customers per day and will be used to help improve the security of the Bitcoin marketplace. By deploying GBGroup's technology, Bitstamp is helping to set the market standard for Bitcoin exchanges in a marketplace still find...