Former U.S. President Donald Trump has promoted his family’s new cryptocurrency platform, “The Defiant Ones,” to his 7.5 million followers on Truth Social, framing it as a response to financial inequality. The Trump Organization’s crypto initiative, which has garnered attention from Eric and Donald Trump Jr., aims to challenge traditional banks. Trump Promotes New Cryptocurrency…
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The Hong Kong Monetary Authority said on Sept. 10 that crypto firms presenting themselves as banks are in contravention of the region’s Banking Ordinance. The HKMA argued such descriptions “may mislead members of the public into believing that those crypto firms” are financial institutions that they can trust. False Descriptions Contravene Banking Ordinance The Hong…
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Animoca Brands partners with hi, a Web3 neobanking app that features cryptocurrency exchange services, conventional digital banking and customized NFT-styled debit cards. Animoca Brands co-founder and executive chairman Yat Siu sees significant potential in the personalization of Web3-based services as his firm earmarks $30 million for the neobank platform hi. Siu’s investment firm plans to…
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About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to the survey findings, only 28% of survey respondents confirmed that their respective institutions…
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Revolut has partnered with Koinly to integrate cryptocurrency tax report services for users. As cryptocurrencies increasingly fall under the purview of global tax authorities, fintech Revolut has integrated an automated tax reporting service for its users. The digital financial services provider has partnered with cryptocurrency tax solution Koinly to allow users to generate cryptocurrency tax…
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Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users to crypto through cashback programs that counter the fears of users purchasing cryptocurrencies in today’s uncertain market. Bitpreco to…
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U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation.
Revolut to Expand Crypto Services for Europeans From Cyprus
A leader in the…
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Brubank, one of the first Argentinian digital banks approved by the central bank of the country, is getting into the cryptocurrency business. The company announced it is now allowing customers to make cryptocurrency investments via its platform, giving them the ability to purchase crypto assets in its app. This is reportedly the second financial institution…
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The Swiss crypto bank, SEBA Bank, was recently granted a license to operate in the Abu Dhabi Global Market (ADGM), the UAE’s financial center. The license allows SEBA to conduct regulated services. SEBA’s Strategy The Swiss-registered digital asset bank, SEBA Bank, has been granted a license that allows it to operate in the UAE’s international…
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Tymebank, a South Africa-based digital bank, recently completed its Series B funding round with $70 million invested in the firm by Tencent and U.K. development financier, CDC Group. Funds to Support Tyme’s Expansion Into New Markets Tymebank, a digital bank from South Africa, recently raised an additional $70 million from its latest funding round, led…
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