Germany's Rocket Internet is looking at investing $3 billion in financial technology and artificial intelligence
Rocket Internet, which had a shaky start in 2014 as its start-ups made big losses, saw its share price jump last year.
Banks in India should start conducting proof of concept with blockchain technology to get a deeper understanding of its likely implication in trade and finance.
Citibank, J.P.Morgan and Bank of America bar use of credit cards for buying bitcoins, other cryptocurrencies
Reserve Bank of India (RBI), country’s banking ombudsman, has also flagged off certain risks associated with the use of virtual or crytpocurrencies
Forbes releases first cryptocurrency rich list; Ripple co-founder Chris Larsen at top with $7.5-8 bn net worth
As per the publication, there are now nearly 1,500 cryptoassets in existence, valued at an aggregate $550 billion
Bitcoin investments under I-T dept's radar; CBDT sends out notices, says profits from crypto currency trading taxable
Finance Minister Arun Jaitley said in his Budget speech earlier this month that all crypto currencies, which include bitcoins, are illegal
Temasek's venture capital arm Vertex Ventures raises $210 million fund for India and Southeast Asia investment
The new fund is Vertex’s first with external investors. Vertex’s previous two funds for southeast Asia were fully funded by Temasek Holdings.
EU banks face stiff competition from fintech firms, as banking rules treat software as a cost rather than an investment
EU banking rules treat software as a cost rather than an investment, forcing lenders to cover expenditure on digital applications with an equal amount of capital
Boston-based Circle Internet operates its app-based peer-to-peer payment network using blockchain.
He said that with proliferation of mobile phones and Internet based transaction, it will be easy for financial technology firm to do analysis and provide loans to person who requires it and has good credit history
The government is expected to come out with regulations for financial technology space as the industry is likely to witness increased payments and lending activities.
It is unlikely Germany, France or many countries would allow a foreign takeover of their major banks, which raises uncertainty about how far they will allow overseas firms to run payments and other parts of finance, one of the top names in private equity said.
While many of the intricacies in the broad and specialized FinTech space still need to be ironed out, the momentum among existing and new entrants in this space continues to prevail.