Troubled fintech crypto debit card issuer, Wirecard, has allegedly filed an open insolvency proceeding. According to the Wall Street Journal ‘s report of 25 June, the Munich-based crypto card firm applied to the Munich District Court to initiate the insolvency settlement process. The global Fintech firm cited its imminent insolvency and excessive debt as the […]
Fintech
Monetary Authority of Singapore Reveals Latest $1.75 Million Fintech Challenge to Combat Effects of Coronavirus
The world’s financial situation was in jeopardy once global economies were taken over by the coronavirus. Major countries have witnessed a recession like a situation that has caused millions to lose their jobs. To curb this, the Singapore Monetary Authority [MAS] has kick-started a $1.75 million competition to bring innovative fintech solutions to solve COVID-19 […]
German Digital Bank N26 Raises $100m in Extension of Series D round
German digital bank N26 today announced it has raised an additional $100 million in its Series D funding round. Overall, the highest valued Fintech firm to date has raised almost $800 million at a valuation of $3.5 billion. The Berlin-headquartered bank, founded in February 2013 by Valentin Stalf and Maximilian Tayenthal, now has 5 million […]
25 Million Loss in Crypto Suffered by dForce as DeFi Protocol Witnesses Attack
The DeFi network is not having it easy in 2020. After the conundrum surrounding the two DeFi ‘Flash loan’ attack on bZx leading to a loss of over a million dollars, another DeFi protocol, dForce has hit the headlines for all the wrong reasons. According to reports, dForce, a Multicoin Capital-backed Chinese decentralized finance protocol […]
Facebook’s Libra will Host Both a Single-Currency and Multi-Currency Stable Asset: David Marcus
After a silent demeanour in the digital asset space since the end of last year, Facebook’s Libra is back with a new announcement in the industry. On Thursday, Libra’s David Marcus revealed on Twitter that the Libra stablecoin venture would be going forward with a renewed plan of action for its development. The Head of […]
Fold Teams Up with the Visa’s Fintech Fast Track Program for Bitcoin Rewards Card
As Bitcoin and the cryptocurrency industry grows, so does mainstream adoption. There is no question that bitcoin adoption is on the rise, real-world uses are continuing to emerge and widespread mainstream adoption is very evident. Last Thursday, Fold announced that it has joined Visa’s Fintech Fast Track program, offering a co-branded Visa card enabling users […]
The US Federal Government has Approved Fitechs PayPal, Intuit QuickBooks, to Hand out Funds to Small Businesses Under the Covid 19 Program.
Fintech companies PayPal and Intuit QuickBooks on Friday announced that the Small Business Administration approved their participation in the Paycheck Protection Program, as reported by CNBC. PayPal and Intuit are among the first non-bank, fintech companies to be certified for the emergency lending program for the Small Business Association. “This is a race to save […]