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Bahrain to Provide Fast-Track Setup Program for Fintech Startups

News The Bahrain Economic Development Board (EDB) has introduced a new program to attract more startups to the country. According to a press release on Oct. 29, the investment promotion agency for the Kingdom of Bahrain has introduced a fast-track setup program for startups looking to do business ..

China’s Central Bank Introduces Certification System for Fintech Products

News China’s central bank, the People’s Bank of China (PBoC), will use a new system to certify 11 types of fintech hardware and software products relating to digital payments. On Oct. 29, the PBoC alongside China’s market regulator, the State Ad­min­is­tra­tion for Mar­ket Reg­u­la­tion (SAMR), j..

US CFTC Turns Its Fintech Lab Into an Independent Office in D.C.

News The United States Commodity Futures Trading Commission (CFTC) gives its fintech research unit LabCFTC status as an independent operating office. Blockchain and digital assets are an important part of developmentEstablished by the CFTC in 2017 with the goal of engaging with the fintech communi..

Senator Defends Libra: Says U.S. Is Behind in Crypto & Fintech Game

Cryptocurrency has long flown under the radar of governments. For nearly all of the past decade, a majority of politicians in office, especially those in the western world, have opted not to talk about the subject matter. But this changed with the launch of Libra, Facebook’s crypto and blockchain p..

Ethereum Is No Longer a Monopoly Platform for Stablecoins

Expert Take Just a few years ago, it was hard to imagine that a stablecoin would come to represent a significant portion of the cryptocurrency industry. Market players tended to base their money-making strategies on a cryptocurrency’s volatility rather than its stability. There were only 11 stable..

Zuckerberg to Testify Before Congress Regarding Libra Stablecoin

News Facebook CEO Mark Zuckerberg will testify before the House of Representatives Financial Services Committee on Oct. 23 regarding the firm’s proposed Libra stablecoin project. On Oct. 9, Congresswoman Maxine Waters officially announced that Zuckerberg will attend a congressional hearing entitle..

Coinbase, Pantera Capital Participate in $2.4M Seed Round of DeFi Startup

News Decentralized finance (DeFi) startup InstaDApp has secured $2.4 million in a seed round from an array of strategic investors, including Coinbase Ventures and Pantera Capital. New fundingPer an Oct. 1 blog post, InstaDApp saw funding from investment firms Coinbase Ventures, Pantera Capital, Ro..

Fintech Startup Rapyd Raises $100M for Cloud-Based Payment Platform

News Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Per an Oct. 1 press release, Rapyd secured $100 million from investors such as Oak HC/FT, investment companies Tiger Global, Coatue, venture capital firms..

China’s Fintech Stocks Soar Over 50% in 2019 Amid CBDC Anticipation

News China Securities Index Co. (CSI) Fintech Theme Index has risen over 50% in 2019, outperforming the broader market. Some stocks skyrocketing 200%According to a Reuters report on Sept. 26, stocks of China’s fintech firms have seen a notable surge this year amid investors’ anticipation of China’..

Ripple’s Xpring Acquires Payment Platform Logos Network to Pursue DeFi

News Ripple, the San Francisco-based startup behind the third-largest asset on the crypto market, XRP, has acquired payments platform Logos Network to develop decentralized financial (DeFi) products. Per a Sept. 27 blog post, Ripple’s Xpring initiative, the company’s investment arm, has onboarded ..

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