Popular investing company Robinhood Markets began trading on Thursday its initial public offering at $38 a share, followed by a 10 percent drop, and closing at $34.90. This came following an announcement on Saturday its plans to launch U.S. retirement accounts as an endeavor to raise its bidding. The investing platform had aimed to raise […]
FinTech
The pandemic has placed a spotlight on all things seamless; from restaurant menus, hotel check-ins, and even trickling down to FinTech and digital banking services. This focus has accelerated coming of a digital economy that looks to harness the technological advancements that the world has witnessed since the start of the COVID-19 health crisis, which […]
While MedTech, digitization, and remote working have sucked up the entirety of the technological limelight during the highs and lows of the COVID-19 pandemic, a sleeping giant has also been growing in the background. That sleeping giant: contactless technologies. We have used forms of the technology in a plethora of ways, to ordering food and […]
Saudi Arabia’s government approved on Tuesday the issuing of the country’s first digital banking licenses to STC Bank and Abdul Rahman bin Saad Al-Rashed & Sons Co. by the Kingdom’s Finance Ministry. Abdul Rahman bin Saad Al-Rashed & Sons Co. will then form a digital bank with a capital of 1.5 billion riyals, called Saudi […]
Commerce has come a long way in the 21st century; it has evolved from the simple act of exchanging banknotes for goods, to the current digital age where you can make transactions by a digital currency mined by someone on the other side of the planet. Commerce transformed into eCommerce, and with it came a […]
Even by Bitcoin’s standards, Wednesday was pretty wild. The price of the famously volatile digital currency fell nearly 30% at one point after the China Banking Association warned member banks of the risks associated with digital currencies. The decline narrowed to below 10% in the afternoon, but Bitcoin had still lost about $70 billion in […]
China has barred financial companies, institutions, FinTechs, and payment companies from delivering any kind of services in relation to cryptocurrency transactions, while warning potential investor to shy away from crypto dealings. Many analysts and industry experts considered the move to be inevitable – especially following the government’s restrictions on Alibaba’s financial arm, Ant Group – […]
SoftBank and Axiata Group announced Tuesday an investment of $60 million by the Japanese company in ADA, a digital analytics, artificial intelligence (AI), and marketing company in the Malaysian telecom’s conglomerate. The investment is aimed at expanding and speeding ADA’s analytics, data and AI digital marketing business in Asia, Axiata and SoftBank said in a […]
MTN Rwanda announced late last week the launch of a FinTech subsidiary called Mobile Money Rwanda LTTD, to provide and manage mobile money services throughout the country. The announcement – which was made as the operator received approval from National Bank of Rwanda to launch the FinTech service – also places Chantal Kagame as its […]
The Bank of England and the British Treasury have announced the joint creation of a Central Bank Digital Currency (CBDC) Taskforce to coordinate the exploration of a potential new form of digital money issued by the Bank of England and for use by households and businesses. While the announcement was made by Chancellor of the […]