Italian rivals Nexi and Sia have finalized a merger to create a fintech giant that can compete in an increasingly consolidated European market. Italy’s largest payments firm Nexi has struck a deal with its rival, SIA, to create a digital payments behemoth with a market cap of 15 billion euros ($17.6 billion). It’s estimated the […]
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Bitcoin grapples with $11,000 as money laundering engulfs the banking sector again and coronavirus spoils stocks sentiment. Bitcoin (BTC) starts a new week still looking for $11,000 support as macro markets wobble over coronavirus and banks’ criminal activities. Cointelegraph highlights five factors that could shape BTC price action in the coming days. Banks face money […]
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The leaked documents show many banks ‘enabling’ money laundering. Leaked documents from the U.S. Financial Crimes Enforcement Network (FinCEN) imply that the agency’s revamped efforts to identify illicit transactions and money laundering may not be sufficient. But on this occasion, the institutions described as being at fault are not crypto exchanges, but some of the […]
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Libra gets another member as it strives to have 100 entities on board. The Facebook-initiated Libra blockchain project continues to grow as its governing body has added a new major industry partner. Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official Sept. […]
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Top financial services experts continue to join the Libra project. The Libra Association has appointed HSBC veteran James Emmett as managing director of its subsidiary firm, Libra Networks LLC. James Emmet spent 25 years at HSBC and is a former colleague of the Libra Association’s new CEO, former HSBC chief legal officer Stuart Levey. Levey […]
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Another massive Bitcoin ad rolls out in Hong Kong, urging citizens to “be their own bank.” The Bitcoin Association of Hong Kong, a major local alliance promoting crypto awareness and education, is launching the “Bitcoin Tram” ad campaign in Hong Kong; one of the world’s main global financial centres. According to a Sept. 11 announcement, […]
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DAML smart contract language is now used for digital bonds. Singapore Exchange (SGX), a major investment holding company in Singapore, has issued its first digital bond powered by blockchain technology. As officially announced on Sept. 1, SGX deployed its digital asset issuance platform to conduct a 400 million Singapore dollar ($294 million) 5.5-year public bond […]
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The traditional banking sector is lagging behind in the race with crypto. Mexico’s Financial Intelligence Unit recently published the results of its second National Risk Assessment. The report highlighted that the risk of money laundering in the banking sector far surpasses the issues encountered by fintech companies. According to El Economista, the so-called “G7 banking” […]
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The operator of Australia’s ‘PayID’ payments network is suing Ripple Labs over its use of ‘PayID’ branding. Ripple is facing a lawsuit from New Payments Platform Australia (NPPA) — a consortium that includes every significant bank in Australia. While court documents are yet to have been made public, it is believed the suit alleges intellectual […]
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China’s CBDC is on its way to Hong Kong. China’s digital yuan, also known as the digital currency electronic payment, or DCEP project, will be rolled out for testing at Hong Kong’s Greater Bay Area in the coming weeks, local news agency the Southern Daily reports on Aug. 12. The Greater Bay Area, or GBA, […]
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