Rojin Nair, Advisor
June 1st, 2021
At Incyub8 Inc, Rojin is focusing on nurturing and guiding various national and international start-[...]
UK banks publish fintech collaboration toolkit
Finextra | Nov 7, 2018
A collective of top UK banks and and financial technology firms have helped to craft a set of guidelines designed to improve engagement between fintech startups and financial institutions.
The new guidelines have been developed by the British Standards Institute through sponsorship from the government-backed Fintech Delivery Panel as part of HM Treasury’s Fintech Sector Strategy.
The document has been jointly created by the UK’s top retail banks - Royal Bank of Scotland, Barclays, HSBC UK, Lloyds Banking Group, and Santander - and vendors, such as MarketInvoice, The ID Co., and iwoca, with the aim of addressing the issues that prevent fintechs and financial institutions from becoming successful allies.
The Publicly Available Specification - PAS 201:2018 - will be freely available not only to the 1,600 fintech companies currently operating in the UK but also to those international startups wanting to engage with UK-based financial institutions.
See: Fintech Reports and Research
The PAS provides a number of pointers for companies to bear in mind when pitching to banks, and an explanation of both the commercial considerations and the necessary checks and controls that need to be satisfied to meet business and regulatory demands. This includes recommendations on preparation, data gathering, due-diligence, on-boarding, commercial and contractual processes, as well as data protection and information security considerations.
John Glen MP, economic secretary to the Treasury says "We need to make it as easy as possible for newcomers to collaborate with the bigger players. That’s why we helped to set up the Fintech Delivery Panel, and thanks to the guidelines published today the industry will be able to work closer together, benefiting customers across the country.”
MarketInvoice, which struck a deal with Barclays Bank to roll out its online invoicing platform to the bank's SME client base earlier this year, says the guidelines provide a lot of learnings for startups to marshal their relationships with banking partners.
Anil Stocker, CEO and co-founder at MarketInvoice, says:
"There is a lot of guidance that can really help young fintechs. For me, culture is key.
Continue to the full article --> here
Download the toolkit and guidelines --> Now
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Support NCFA by Following us on Twitter!Follow @NCFACanada  Not to be missed! Registration NOW OPEN! |
Guest Post | Jun 24, 2022 The modern market for currencies is extremely divergent, largely thanks to the presence of cryptocurrencies. Since 2009, when Bitcoin was established, there have been many formats created. The current number of tokens exceeds eighteen thousand varietals. The mining process employs computational resources to validate fresh transactions and record information on digital ledgers to boost the crypto development. You can find even more information on this subject, as well as all for miners, on the Hiveon.com website. What is mining cryptocurrency? Stay tuned to check it out in more detail. Onwards! How Does Mining Work? The key feature of mining crypto is that you don’t invest in this currency to actually get it. It functions as a so-called exchange of your computational resources in order to receive verified blocks and get a token reward in the end. The mining market is highly competitive, which increases the pressure on a miner. Back in the Bitcoin era beginning, users could produce fifty BTC per block. Nowadays, this figure is 6.25 BTC per block. Why Is Mining Important? The value of mining doesn’t limit to increasing the crypto assets only. This process also makes the blockchain more secure ...
Read More
Protocol | Benjamin Pimental | Jun 17, 2022 It’s been a rough week for Brex co-CEO Henrique Dubugras as he dealt with the fallout from a business fumble. Brex had sent emails to tens of thousands of small businesses, telling them that the financial services company would no longer be able to serve their needs. After expanding its business from tech startups to traditional small businesses, including mom-and-pop shops, Brex had decided to pull back to its original core customers sparking harsh criticisms online. “This Brex account closure sucks,” one Twitter post read. See: Q2’22 Private Market Global Venture Funding – Is the Party Over? What prompted this decision? There are tens of thousands of startups in the U.S. versus tens of millions of small businesses. The scale that that took was very, very big. We thought it was going to be fine; we'll just invest more to give them exceptional service. At the same time, there was another effect that was happening. Our core customers, the startups, they were starting to grow. As they grew, they started having all these new needs. They’re like, “Look, we need you to solve these new needs that I have around spend management ...
Read More
TechCrunch | Aisha Malik | Jun 22, 2022 eBay announced today that it’s acquiring Manchester-based NFT marketplace KnownOrigin. The financial terms of the deal were not disclosed. eBay says the companies have signed and closed the deal as of June 22nd. KnownOrigin was founded in 2018 by Andy Gray, David Moore and James Morgan. All three co-founders are joining eBay. The platform enables artists and collectors to create, buy and resell NFTs. eBay say it’s acquiring the entire company, including IP and the team. The acquisition comes a month after eBay launched its first collection of NFTs in partnership with web3 platform OneOf. The company’s new “Genesis” NFT Collection will feature 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years. eBay says the surge in the collectibles market led to its first collaboration in the NFT space. See: EBay Scores NFT business with an assist from hockey legend Wayne Gretzky eBay CEO Jamie Iannone: eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital ...
Read More
Bitvo | Tristram Waye | Jun 23, 2022 Right now, crypto is in transition, and this is the perfect time to be reflecting on what the next big thing might be. And as traders and players in the space, thinking about what’s ahead is the key to identifying that next big thing. Which reminded me of Andy Kessler. He was an old Wall Street maven and fund manager. In one of his books, he had a story about meeting a Swiss investor on a plane. That discussion over a five-hour flight led to a series of deep dives into innovation history. So I grabbed Kessler’s Wall Street Meat off the shelf to refresh my memory. Whoops. Wrong book. It’s great, but the one I want is Kessler’s Running Money. In Running Money, Kessler shows us how he developed an investment thesis while managing a hedge fund. And he tells us in great detail how he figures out what the next big thing might be. See: Crypto Pragmatist: Checkout these free crypto (trading) tools He does this by exploring the evolution of other innovation periods and the key insights he gets from them. And as a bonus, he’s doing this during ...
Read More
U.Today | Arman Shirinyan | Jun 21, 2022 A global Bitcoin self-mining company, Bitfarms based in Canada, is now "adjusting its HODL strategy" according to the press release to add more liquidity and strengthen its balance sheet. Reportedly, the company has sold 3,000 BTC for approximately $62 million at the average price of $20,600. The main reason behind the operation was the company's inability to provide funds to finance the equipment. See: Justin Hartzman: Unveiling the Celsius and 3 Arrows Capital implosions After the deal was done, the company's total Bitcoin holdings remained at 3,349 Bitcoins with 14 BTC added to the balance every day. Additionally, the Canadian Bitcoin mining company will proceed to reduce the BTC-backed credit facility with Galaxy Digital LLC from $66 million to $38 million. From now on, the company will no longer HODL its assets produced daily, which means that Bitfarms will most likely create constant selling pressure on the market to provide more liquidity to its balance sheet by increasing the percentage of stablecoins or fiat currencies in their portfolio. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market ...
Read More
Justin Hartzman on Medium | Jun 22, 2022 The markets have been absolutely brutal. Over the last month, we have seen a stablecoin provider, a leading lending provider, and one of the biggest crypto hedge funds implode entirely. We have discussed Terra’s implosion in the past. Today, let’s focus on Celsius and 3 Arrows Capital (3AC). The truly remarkable thing here is that we are in entirely uncharted waters as far as crypto is concerned. We have never seen so many institutes implode at the same time. Strangely enough, I believe this could be good for the market in the long term. We will get to that later. However, first a quick intro. What are Celsius and 3AC? So let’s start with Celsius. Founded in 2018, Celsius was one of the biggest lending platforms in crypto. In May 2022, they had more than $8 billion lent out to clients and $12 billion in assets under management. What made them truly attractive was the incredible APR they offered on collateral. Celsius has been using client funds on various DeFi protocols like Lido, Curve, and — wait for it — Terra’s Anchor Protocol — to generate this yield. On-chain analytics platform Nansen ...
Read More
Ripple | Jun 22, 2022 Driving Crypto Innovation Through Top Engineering Talent in Canada Today we announced the opening of our new office in Toronto that will serve as a key engineering hub. The new office will be our first in Canada, supporting our continued growth in North America and beyond. We plan to initially hire 50 engineers in Toronto with the goal to expand to hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers. Brad Garlinghouse, CEO of Ripple: Crypto and blockchain present an incredible opportunity for engineers to tackle difficult problems, with the potential for these solutions to impact the movement of value around the world. See: Ripple is buying back shares from investors (at a 50% profit in 2 years) While others in the industry have announced layoffs and hiring freezes, our key priority remains bringing on world class talent that will help us innovate and serve our customers for years to come. In the past year alone, we’ve opened new offices in key cities including Miami and Dublin and plan to hire hundreds of people globally in 2022. The opening of the Toronto office further solidifies our commitment to a ...
Read More
Liquid Avatar Technologies | Release | Jun 21, 2022 TORONTO, ON / ACCESSWIRE / June 21, 2022 / Liquid Avatar Technologies Inc. (CSE:LQID)(OTCQB:LQAVF)(FRA:4T51), a global blockchain and FinTech solutions company focused on digital identity, integrated avatars, and the Metaverse, is proud to announce that it has launched its updated feature-rich Self Sovereign Identity App, Liquid Avatar, allowing individuals and applicable entities to manage and control the use of their own age and other personal identifiable information, where appropriate, identity, affiliations and other information and personalized data digitally in a safe and secure platform based on open standards. See: How to protect your digital identity? The Liquid Avatar Mobile App is part of Liquid Avatar Technologies' verifiable credentials ecosystem ("LAVCE"), which includes technology to support, Holders of credentials (individuals and entities), Issuers of credentials (governments, educational & financial institutions, workplaces, gaming platforms and Metaverses), and Verifiers of credentials (payment processors, commercial businesses, venue operators and online merchants and websites). The Liquid Avatar Mobile App is available on the Apple AppStore and Google Play. New Features: Encrypted Messaging Machine Readable Governance LQID Card - available in the US shortly, with wait list currently available Smart Age Bank grade reusable identity credentials for ...
Read More
Quartz | Tiffany Ap | Jun 16, 2022 Over the next few decades, around $30 trillion in wealth is expected to be passed down from Baby Boomers to millennials. A survey from Capgemini Research Institute found that they’re going to be pickier customers for wealth management firms than their parents and grandparents. Surveyed nearly 3,000 high net worth individuals (HNWI), defined as people with investable assets of $1 million or more and found that millennials coming into wealth are far more price-sensitive than the previous generation, especially in a bear market. A majority of them are switching advisors to find a better fit compared to what may have worked for older investors. Millennials prefer a hybrid model for advisory services and information. The pandemic caused HNWIs to reduce dependency on wealth managers and become more actively involved in investing, spurring demand for self-directed tools. See: 5 Drivers Behind the Sustainable Investing Shift The millennial “freemium” mindset” that has developed over the last 10 years is another factor. Younger HNWIs are less willing to pay for straightforward access because they expect that for free in exchange for data or deposits. About half of millennials surveyed said they had changed their primary ...
Read More
OSC Release | Jun 7, 2022 TORONTO – The Ontario Securities Commission (OSC) today published a Statement of Allegations against Mek Global Limited, incorporated in the Republic of Seychelles, and PhoenixFin Pte. Ltd., incorporated in Singapore, (collectively, KuCoin) for failing to comply with Ontario securities law. KuCoin is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario residents to trade crypto asset products that are securities and derivatives. On March 29, 2021, the OSC warned crypto asset trading platforms that offer trading in derivatives or securities in Ontario that they must contact OSC staff or face potential regulatory action. Platforms were given until April 19, 2021 to discuss how to bring their operations as a dealer or marketplace into compliance. Additionally, the OSC stated that platforms that allow access to Ontarians are regarded by the OSC as operating in Ontario for the purposes of securities regulation. Despite this warning, KuCoin did not contact the OSC. See: Alberta-based Binance Canada expects to return to Ontario by 2024 Staff will continue to take action against non-compliant crypto asset trading platforms and are in contact with international securities regulators to exchange information to support enforcement action ...
Read More
Guest Post | Jun 24, 2022 The modern market for currencies is extremely divergent, largely thanks to the presence of cryptocurrencies. Since 2009, when Bitcoin was established, there have been many formats created. The current number of tokens exceeds eighteen thousand varietals. The mining process employs computational resources to validate fresh transactions and record information on digital ledgers to boost the crypto development. You can find even more information on this subject, as well as all for miners, on the Hiveon.com website. What is mining cryptocurrency? Stay tuned to check it out in more detail. Onwards! How Does Mining Work? The key feature of mining crypto is that you don’t invest in this currency to actually get it. It functions as a so-called exchange of your computational resources in order to receive verified blocks and get a token reward in the end. The mining market is highly competitive, which increases the pressure on a miner. Back in the Bitcoin era beginning, users could produce fifty BTC per block. Nowadays, this figure is 6.25 BTC per block. Why Is Mining Important? The value of mining doesn’t limit to increasing the crypto assets only. This process also makes the blockchain more secure ...
Read More
Read More
Protocol | Benjamin Pimental | Jun 17, 2022 It’s been a rough week for Brex co-CEO Henrique Dubugras as he dealt with the fallout from a business fumble. Brex had sent emails to tens of thousands of small businesses, telling them that the financial services company would no longer be able to serve their needs. After expanding its business from tech startups to traditional small businesses, including mom-and-pop shops, Brex had decided to pull back to its original core customers sparking harsh criticisms online. “This Brex account closure sucks,” one Twitter post read. See: Q2’22 Private Market Global Venture Funding – Is the Party Over? What prompted this decision? There are tens of thousands of startups in the U.S. versus tens of millions of small businesses. The scale that that took was very, very big. We thought it was going to be fine; we'll just invest more to give them exceptional service. At the same time, there was another effect that was happening. Our core customers, the startups, they were starting to grow. As they grew, they started having all these new needs. They’re like, “Look, we need you to solve these new needs that I have around spend management ...
Read More
Read More
TechCrunch | Aisha Malik | Jun 22, 2022 eBay announced today that it’s acquiring Manchester-based NFT marketplace KnownOrigin. The financial terms of the deal were not disclosed. eBay says the companies have signed and closed the deal as of June 22nd. KnownOrigin was founded in 2018 by Andy Gray, David Moore and James Morgan. All three co-founders are joining eBay. The platform enables artists and collectors to create, buy and resell NFTs. eBay say it’s acquiring the entire company, including IP and the team. The acquisition comes a month after eBay launched its first collection of NFTs in partnership with web3 platform OneOf. The company’s new “Genesis” NFT Collection will feature 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years. eBay says the surge in the collectibles market led to its first collaboration in the NFT space. See: EBay Scores NFT business with an assist from hockey legend Wayne Gretzky eBay CEO Jamie Iannone: eBay is the first stop for people across the globe who are searching for that perfect, hard-to-find, or unique addition to their collection and, with this acquisition, we will remain a leading site as our community is increasingly adding digital ...
Read More
Read More
Bitvo | Tristram Waye | Jun 23, 2022 Right now, crypto is in transition, and this is the perfect time to be reflecting on what the next big thing might be. And as traders and players in the space, thinking about what’s ahead is the key to identifying that next big thing. Which reminded me of Andy Kessler. He was an old Wall Street maven and fund manager. In one of his books, he had a story about meeting a Swiss investor on a plane. That discussion over a five-hour flight led to a series of deep dives into innovation history. So I grabbed Kessler’s Wall Street Meat off the shelf to refresh my memory. Whoops. Wrong book. It’s great, but the one I want is Kessler’s Running Money. In Running Money, Kessler shows us how he developed an investment thesis while managing a hedge fund. And he tells us in great detail how he figures out what the next big thing might be. See: Crypto Pragmatist: Checkout these free crypto (trading) tools He does this by exploring the evolution of other innovation periods and the key insights he gets from them. And as a bonus, he’s doing this during ...
Read More
Read More
U.Today | Arman Shirinyan | Jun 21, 2022 A global Bitcoin self-mining company, Bitfarms based in Canada, is now "adjusting its HODL strategy" according to the press release to add more liquidity and strengthen its balance sheet. Reportedly, the company has sold 3,000 BTC for approximately $62 million at the average price of $20,600. The main reason behind the operation was the company's inability to provide funds to finance the equipment. See: Justin Hartzman: Unveiling the Celsius and 3 Arrows Capital implosions After the deal was done, the company's total Bitcoin holdings remained at 3,349 Bitcoins with 14 BTC added to the balance every day. Additionally, the Canadian Bitcoin mining company will proceed to reduce the BTC-backed credit facility with Galaxy Digital LLC from $66 million to $38 million. From now on, the company will no longer HODL its assets produced daily, which means that Bitfarms will most likely create constant selling pressure on the market to provide more liquidity to its balance sheet by increasing the percentage of stablecoins or fiat currencies in their portfolio. Continue to the full article --> here The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market ...
Read More
Read More
Justin Hartzman on Medium | Jun 22, 2022 The markets have been absolutely brutal. Over the last month, we have seen a stablecoin provider, a leading lending provider, and one of the biggest crypto hedge funds implode entirely. We have discussed Terra’s implosion in the past. Today, let’s focus on Celsius and 3 Arrows Capital (3AC). The truly remarkable thing here is that we are in entirely uncharted waters as far as crypto is concerned. We have never seen so many institutes implode at the same time. Strangely enough, I believe this could be good for the market in the long term. We will get to that later. However, first a quick intro. What are Celsius and 3AC? So let’s start with Celsius. Founded in 2018, Celsius was one of the biggest lending platforms in crypto. In May 2022, they had more than $8 billion lent out to clients and $12 billion in assets under management. What made them truly attractive was the incredible APR they offered on collateral. Celsius has been using client funds on various DeFi protocols like Lido, Curve, and — wait for it — Terra’s Anchor Protocol — to generate this yield. On-chain analytics platform Nansen ...
Read More
Read More
Ripple | Jun 22, 2022 Driving Crypto Innovation Through Top Engineering Talent in Canada Today we announced the opening of our new office in Toronto that will serve as a key engineering hub. The new office will be our first in Canada, supporting our continued growth in North America and beyond. We plan to initially hire 50 engineers in Toronto with the goal to expand to hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers. Brad Garlinghouse, CEO of Ripple: Crypto and blockchain present an incredible opportunity for engineers to tackle difficult problems, with the potential for these solutions to impact the movement of value around the world. See: Ripple is buying back shares from investors (at a 50% profit in 2 years) While others in the industry have announced layoffs and hiring freezes, our key priority remains bringing on world class talent that will help us innovate and serve our customers for years to come. In the past year alone, we’ve opened new offices in key cities including Miami and Dublin and plan to hire hundreds of people globally in 2022. The opening of the Toronto office further solidifies our commitment to a ...
Read More
Read More
Liquid Avatar Technologies | Release | Jun 21, 2022 TORONTO, ON / ACCESSWIRE / June 21, 2022 / Liquid Avatar Technologies Inc. (CSE:LQID)(OTCQB:LQAVF)(FRA:4T51), a global blockchain and FinTech solutions company focused on digital identity, integrated avatars, and the Metaverse, is proud to announce that it has launched its updated feature-rich Self Sovereign Identity App, Liquid Avatar, allowing individuals and applicable entities to manage and control the use of their own age and other personal identifiable information, where appropriate, identity, affiliations and other information and personalized data digitally in a safe and secure platform based on open standards. See: How to protect your digital identity? The Liquid Avatar Mobile App is part of Liquid Avatar Technologies' verifiable credentials ecosystem ("LAVCE"), which includes technology to support, Holders of credentials (individuals and entities), Issuers of credentials (governments, educational & financial institutions, workplaces, gaming platforms and Metaverses), and Verifiers of credentials (payment processors, commercial businesses, venue operators and online merchants and websites). The Liquid Avatar Mobile App is available on the Apple AppStore and Google Play. New Features: Encrypted Messaging Machine Readable Governance LQID Card - available in the US shortly, with wait list currently available Smart Age Bank grade reusable identity credentials for ...
Read More
Read More
Quartz | Tiffany Ap | Jun 16, 2022 Over the next few decades, around $30 trillion in wealth is expected to be passed down from Baby Boomers to millennials. A survey from Capgemini Research Institute found that they’re going to be pickier customers for wealth management firms than their parents and grandparents. Surveyed nearly 3,000 high net worth individuals (HNWI), defined as people with investable assets of $1 million or more and found that millennials coming into wealth are far more price-sensitive than the previous generation, especially in a bear market. A majority of them are switching advisors to find a better fit compared to what may have worked for older investors. Millennials prefer a hybrid model for advisory services and information. The pandemic caused HNWIs to reduce dependency on wealth managers and become more actively involved in investing, spurring demand for self-directed tools. See: 5 Drivers Behind the Sustainable Investing Shift The millennial “freemium” mindset” that has developed over the last 10 years is another factor. Younger HNWIs are less willing to pay for straightforward access because they expect that for free in exchange for data or deposits. About half of millennials surveyed said they had changed their primary ...
Read More
Read More
OSC Release | Jun 7, 2022 TORONTO – The Ontario Securities Commission (OSC) today published a Statement of Allegations against Mek Global Limited, incorporated in the Republic of Seychelles, and PhoenixFin Pte. Ltd., incorporated in Singapore, (collectively, KuCoin) for failing to comply with Ontario securities law. KuCoin is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario residents to trade crypto asset products that are securities and derivatives. On March 29, 2021, the OSC warned crypto asset trading platforms that offer trading in derivatives or securities in Ontario that they must contact OSC staff or face potential regulatory action. Platforms were given until April 19, 2021 to discuss how to bring their operations as a dealer or marketplace into compliance. Additionally, the OSC stated that platforms that allow access to Ontarians are regarded by the OSC as operating in Ontario for the purposes of securities regulation. Despite this warning, KuCoin did not contact the OSC. See: Alberta-based Binance Canada expects to return to Ontario by 2024 Staff will continue to take action against non-compliant crypto asset trading platforms and are in contact with international securities regulators to exchange information to support enforcement action ...
Read More
Read More
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