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|Suggested by Finance Pratique|
The world’s first listed Bitcoin mining company DigitalBTC (Digital CC Ltd.) has announced that it’s getting out of the game and instead entering the fintech remittance space.
DigitalBTC listed on the Australian Stock Exchange in March 2014 through a backdoor listing by taking over an existing small mining concern, and promised great things from its proposed mining operations but got one thing seriously wrong: it didn’t allow for the drop in the price of Bitcoin.
A bit late, but wise decision! On to the next hype of blockchain?
Finextra: Ben Milne, who founded Dwolla in 2008 after growing frustrated with high credit card fees, talks to Finextra about America's slow move towards faster payments, his firm's foray into the exchange world, the blockchain, and the idea of being bought by Apple.
Finextra: Dutch banks are banding together on a digital identification service which will let online customers use their login details to access other commercial and government sites.
The benefit of being a smaller country with a banking oligopoly is that banks come relatively fast to a consortium agreement
Finextra: JPMorgan Chase has signed up retailer consortium MCX as a partner for Chase Pay, its new digital wallet leading the fight back against tech giants Apple, Google and Samsung in the increasingly crowded mobile money arena.
Better late than never?
Finextra: Swatch has teamed up with China UnionPay and Bank of Communications to introduce a watch with inbuilt contactless payments functionality.
China UnionPay : 5 billion cards issued to date, probably 1.5 in circulation
Ripple has received an additional $4m in funding from Santander InnoVentures, bringing its Series A total to $32m.
Brings total raised to $38M
Finextra: Jack Dorsey has confirmed that he will stay on as CEO of Square, despite taking on the same role at the other multi-billion dollar company he co-founded, Twitter.
JAck Dorsey is said to be working 20h a day, but stil... Square is not doing great and neither is Twitter. Each separately would require his full attention.
Finextra: An investment fund backed by some of Silicon Valley's biggest names, including Mark Zuckerberg and Jack Dorsey, has put money into Adyen in a deal that sees the Dutch payments processing firm valued at $2.3 billion.
Total funding raised = $266 in 3 rounds according to Crunchbase
Finextra: Google has released a new Wallet app for iOS with a clear focus on peer-to-peer payments and wallet-to-bank transfers.
Better late than never or too late?
Finextra: BitPay lost $1.8 million in a phishing attack late last year, according to lawsuit filed by the bitcoin payment processing firm against an insurer it is trying to get to cover some of the losses.
There are many more successful phishing attacks that we never hear about