Robinhood Didn’t Consult Regulators on New Checking & Savings Account Products

Robinhood, the crypto-friendly stock trading application, recently launched a plan to offer checking and savings accounts. The accounts have a minimum 3% interest. It is part of their plan to become the world’s most used financial technology application. Co-CEO Baiju Bhatt said to CNBC at the time of the announcement: “If we roll this product

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Porsche Arranges $170m Loan Using BBVA’s Blockchain Platform

Prestige car-maker Porsche has arranged a loan to back its proposed strategic acquisitions using Spanish-bank BBVA’s ever-developing distributed ledger technology (DLT) platform. The loan, valued at €150 million (the equivalent of nearly $170 million USD) is, says a press release from BBVA: “The first acquisition term loan ever arranged through blockchain technology.” Acquisition term loans

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PayPal Gets into Blockchain, But Only Internally Among Employees for Now

Payments platform PayPal has so far avoided Bitcoin acceptance and, at least visibly, not considered blockchain for its platform. Now, it has launched an internal blockchain-based employee incentive program. A production of PayPal’s innovation lab, in San Jose, California, the platform took 25 strong team six-months to build and went live this November, according to

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Pro-Crypto Trading App Robinhood Launches Checkings & Savings Accounts

Menlo Park-based Robinhood has launched savings and checking accounts for its US customers, according to a company blog post. The new accounts would follow the similar trend that we have become accustomed to: “fee-free, commitment-free and surprise-free” were the words used lavishly on the company’s website. Robinhood, which operates a crypto trading platform in addition to

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UAE Firm Taps Ripple Blockchain RippleNet to Launch Cross-Border Payments

RippleNet, the blockchain-based global payment network of Ripple, is set to increase its footprint in the Middle East with a United Arab Emirates-based remittance firm set to unveil cross-border payments using the technology. According to Reuters, remittance firm UAE Exchange will roll out RippleNet-powered cross-border remittance services to Asia in the first quarter of 2019

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Bitcoin-Friendly Revolut Receives European Banking License, Aims to be ‘Amazon of Banking’

Revolut, a digital banking alternative that features an in-app bitcoin and cryptocurrency exchange, has received a European banking license as it seeks to expand its offerings and position itself as the “Amazon of banking.” Revolut to Offer Bank Accounts in Europe The London-based unicorn, which remains one of the hottest fintech startups in the United

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UAE and Saudi Arabian Central Banks to Jointly Launch a Cross-Border Cryptocurrency

It’s confirmed. The United Arab Emirates (UAE) and Saudi Arabia will work on cross-border digital currency. The exact date when it would be issued is still unknown but we know one thing, the digital currency is not targeted at consumers. It’s strictly for banks. Arabian news outlet Gulf News reports that the central bank of

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South Korean Crypto Exchange Launches Ripple-Based Blockchain Remittance Service

Coinone subsidiary Coinone Transfer has introduced Cross, South Korea’s first blockchain-based remittance app and web service, using enterprise blockchain technology created by Ripple. Cross gives people in Thailand and the Philippines access to faster and cheaper payment services. Coinone Transfer utilized RippleNet and connections with the Siam Commercial Bank (Thailand) and Cebuana Lhuillier (Philippines) to

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Canadian City Calgary Launches a Digital Currency to Boost Local Economic Activity

Calgary has become the first Canadian city to launch a digital version of its local currency. Known as the Calgary Digital Dollar, the digital currency will be used exclusively in the City of Calgary located in Alberta Province and will operate alongside the federal currency, the Canadian Dollar (or the loonie as it is popularly

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SWIFT Is Trialing a New Payment System to Take on Fintechs and Blockchain Tech

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced its decision to launch a pilot Global Payment Initiative (GPI) service which aims to compete with the growing threat of competing blockchain and fintech solutions provided by institutions like Ripple, JP Morgan and Transferwise. Still in its initial stages, the ambitious pilot aims to “build

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