PayPal Offers S$180,000 Fintech Scholarship to Six Students

PayPal Offers S$180,000 Fintech Scholarship to Six Students

PayPal has announced a new fintech scholarship program in partnership with the Singapore Management University. The program is designed to encourage students to involve themselves in the fintech and cybersecurity domains. The mainstream financial, banking and payments industries are trying hard to adapt to the drastic changes brought about by the cryptocurrency technology. Bitcoin, the revolutionary digital currency, and its underlying blockchain technology have created new standards in the financial technology sector. The leading payments and fund transfer solutions provider, PayPal is currently facing stiff competition from Bitcoin-based platforms offering similar services at a fraction of the cost. Like any other conventional financial institution, PayPal has...

Alibaba’s Ant Financial Continues to Acquire Stakes across the World

Alibaba’s Ant Financial Continues to Acquire Stakes across the World

The Chinese Bitcoin exchanges are currently working on complying with various regulations put forth by the country’s central bank. But that hasn’t stopped the country’s firms from expanding their foothold in the blockchain driven fintech industry. Ant Financial Services Group, a financial services company affiliated to the renowned Alibaba Group has announced its investment into Mynt, a fintech company. According to reports, Ant Financial has invested an undisclosed amount for a substantial minority stake in the Philippines based wallet service owned and operated by Globe Telecom. The investment in a Philippines-based entity comes within months of Ant Financial’s another investment in Thailand’s Ascend Money whose reach extends to...

Sweden Presents Itself as an Attractive Post-Brexit Fintech Destination

Sweden Presents Itself as an Attractive Post-Brexit Fintech Destination

With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU market. Like any other European Union nation, Sweden has started to make a push to become the next European fintech hotspot. The country has an established track record when it comes to attracting investments in the fintech sector, which could come in handy at this time....

IMF to Co-Host Blockchain Seminar Next Month

The International Monetary Fund (IMF) and Dubai’s Ministry of Finance are to co-host a FinTech seminar focusing on blockchain and digital currencies next month. The mid-February event, announced today, will include notable speakers such as IMF managing director Christine Lagarde, Luxembourg minister of finance Pierre Gramegna, and Dubai minister of state for financial affairs Obaid Humaid Al Tayer. Dubai’s government is already working on blockchain-based systems for use in government services, including as a backup record for official documentation. It has also backed a collaborative initiative aimed at promoting work between startups, government agencies and local businesses. Some of these concepts are likely to be on display at the Dubai seminar next month. Al...

Brexit Delays, More Uncertainity for the Fintech Sector

Brexit Delays, More Uncertainity for the Fintech Sector

Brexit is a crucial event for the fintech and blockchain sector. The post-Brexit world will decide the fate of the European Fintech ecosystem. But the separation of England from the European Union may not be happening anytime soon. According to reports, the English Supreme Court has ruled that the Prime Minister of Great Britain, Theresa May has to seek the approval of the parliament before setting the wheels of Brexit in motion. The parliamentary approval may not be so forthcoming, as the country is currently in a dilemma about whether to leave the EU or not and the parliament, at crossroads. The British Supreme Court has upheld the earlier High Court ruling, delaying May’s plans to invoke the Article 50 of Lisbon Treaty before the end of March 2017. An...