Many of the most discerning tech companies globally – including Chime, Robinhood, Monzo, Revolut, Transferwise, Varo and many others – trust Galileo’s APIs to open and verify new financial accounts, issue and process payment cards, and launch new products.
Without loud announcements, Bank of America has conducted testing of Ripple’s distributed ledger technology. And it may seem that it won’t stop at this stage.
According to Samsung SDS vice president Yoon Shim, the company started testing the system in August this year. The blockchain healthcare network is set to go live this month.
The fear for many authorities is that Facebook’s Libra could heavily disrupt the financial system and potentially enable illicit activities like money laundering or terrorist financing.
Libra’s interim managing director is quite sure the team will reach its goal of a hundred members by next year.
The South Korean government is going to put all relevant documents on the blockchain making them available for banking institutions, trading institutions, and others.
The fintech industry is booming as shown by investors in Singapore who poured a record $735 million into financial-technology deals representing a 69% surge from the prior-year period that had $435 million.
It has been revealed that Initially a vehicle identification network developed within the Mobility Open Blockchain Initiative will be tested in the US.
Mastercard, Visa, eBay, Stripe and Mercado Pago have all pulled out of the Facebook-led Libra Association following PayPal, which pulled its own support of the project earlier this week.
Samsung has officially announced that it will collaborate with the Finably fintech firm, a Ripple’s partner, to launch an international money transfer service on the Samsung Pay app targeting US users.
Digital payment arm of Chinese e-commerce giant Alibaba, Alipay, takes an anti-cryptocurrency stance and bans all Bitcoin and cryptocurrency transactions on its platform.
Facebook CEO Mark Zuckerberg is set to testify before the Financial Services Committee of the United States Congress later this month.
Announced at Ethereum Foundation’s Devcon 5 conference, OpenLibra is described as an “open platform for financial inclusion,” with a telling tagline: “Not run by Facebook.”
After trying at a similar endeavor and failing in December last year, Robinhood has announced a feature that promises users returns on their uninvested funds. The new feature is now also fully insured with over $1 million.
The need for fintech solutions is very present in Southeast Asia as many are still without access to financial services. However, at the current rate of growth, there’s a good chance the region will outshine others, in the sector.