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Global Fintech Investment Soars to Record $57 Billion in First Half of 2018, U.S. bank regulator to

Global Fintech Investment Soars to Record $57 Billion in First Half of 2018

Global fintech investment roared ahead at a record pace in the first half of 2018, with $57.9 billion invested across 875 deals, a significant increase from the $38.1 billion invested in all of 2017, according to the KPMG Pulse of Fintech report. Highlights of the first half included the successful closing of two massive deals: the record-setting $14 billion raise by Ant Financial in the second quarter of 2018, and Vantiv’s acquisition of WorldPay for $12.9 billion in that year’s first quarter. Overall deal volume was robust, rising from 834...

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Category: Fintech Investment

Image & article ref: calcalistech.com

U.S. bank regulator to start accepting fintech charter applications

A U.S. bank regulator said on Tuesday it would start accepting national charter applications from financial technology companies, giving so-called fintech firms a path to federal oversight for the first time ever. The move by the U.S. Office of the Comptroller of the Currency opens the door for online and peer-to-peer lenders to operate nationwide under a single licensing and regulatory regime, and came hours after the Treasury Department endorsed the approach in a new report.

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Category: Fintech Regulation

Image & article ref: reuters.com

GDPR Could Hinder Blockchain Innovation, Warns EU Body

The EU Blockchain Observatory and Forum has warned that the General Data Protection Regulation law that went into effect a little over two months ago could hinder innovation in the blockchain space. According to the European blockchain body, this is because of the lack of legal clarity between blockchain technology and the GDPR law, whose aim is to protect individual data rights as well as facilitate the free movement of personal data in the single market. “As long as the legal framework around personal data...

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Category: Blockchain & Data Protection

Image & article ref: ccn.com

Equity crowdfunding platform Crowdcube records strongest ever quarter

Exeter-based Crowdcube has had its strongest quarter ever, driven by record activity levels.

In the second quarter of 2018, a record £47.4m was raised for 58 businesses. This takes the total pledged on the platform to over £490m. Revenue increased by 43 per cent from the second quarter of 2017, at £1.46m. Along with a record first quarter, revenue for the first half of the year has now reached £2.67m, up 32 per cent from the first half of 2017. The results have been propelled by successful investments into technology, people...

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Category: Crowdfunding

Image & article ref: cityam.com

Square Sees Profits From Bitcoin Sales Double in Q2

Mobile payments firm Square said it made $37 million in revenue from bitcoin sales in the second quarter of 2018. The company released an unaudited quarterly financial report on Wednesday, which indicated it made an overall net revenue of $814 million, 6 percent of which came from the cryptocurrency buying service added to its Cash App late last year. However, with the cost of facilitating bitcoin purchases mounting to over $36.5 million in the same period, Square again chalked up a small margin of $420,000.

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Category: Bitcoin Transations

Image & article ref: coindesk.com


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