China’s fintech stocks are starting to soar ahead of the expected launch if its CBDC. This is driven by the possibility that the digital currency will provide a need for security and payment services.
Talking at a blockchain event at the U.N. headquarters in Geneva, Libra’s managing director Bertrand Perez said Libra will not replace existing fiat currencies, but could help the UN achieve its SDGs as eliminating poverty and achieving gender equality.
Echoing Marcus’ forecast that Libra could potentially change the world, Armstrong called Facebook’s project one of the most important cryptocurrency projects in development.
Mark Zuckerberg has ensured that now, when Facebook’s team is getting ready to launch their crypto project Libra, they are really focused on doing it right.
ECB Board Member Benoit Coeure has warned that private stablecoins like Libra are posing big risk to the monetary sovereignty, however, they can also solve some of the burning issues.
California-based financial firm SoFi has added BTC, ETH and LTC trading to its platform SoFi Invest. Crypto trading on SoFi Invest joins the list of previously introduced trading of stocks and exchange-traded funds.
David Marcus, the head of Calibra wallet, went on Facebook to explain the company’s motivation behind building Libra. David elaborates on why Facebook didn’t choose to build on top of existing systems, but rather chose to build a new one.
Fidel has received funding that it hopes to use in the expansion of its services to other countries. The startup which is in partnership with major card companies, such as Visa and MasterCard, offers developers easy access to the card networks.
Boston Dynamics has launched the sale of its Spot Robot Dog but it still insists that the dog is not intended to be used as a weapon though their target markets are police departments.
U.S. banking giant JPMorgan Chase will help poor American communities. The largest US bank set to invest $25 million in FinTech startups that help low-income Americans be more financially healthy.
London has overtaken New York in the number and value of deals its Fintech startups were able to raise. This indicates that although London and the UK may not lead the pack when it comes to fintech investment values, the will come pretty close. This is important in the face of a possible “no-deal” Brexit.
Facebook has acquired ServiceFriend which is a startup that builds bots. Experts are speculating that this is for the new Calibra wallet support service, however, Facebook hasn’t yet approved this news.
In recent news, OneConnect, which is the blockchain and fintech arm of the Chinese biggest insurer Ping An, is planning to launch an initial public offering (IPO) in the U.S. market, New York specifically.
Facebook has finally released the full list of the fiat currencies which will back Libra. While it may not come as much of a surprise, what remains yet to be seen is how France and Germany will be encouraged to accept Libra.
Open banking startup Deposit Solutions has just gotten financing from Deutsche Bank and is currently valued at €1 billion. This indicates that the fintech startup is doing something right. Is open banking the future of fintech?