Fintech, Finance, Technology, Banking Highlights – 6 November 2018
Braintree adds Samsung Pay support
Braintree release a statement about adding their services Samsung Pay support:
At Braintree, we’re focused on helping drive the future of commerce by offering our merchants the tools they need to succeed in today’s — and tomorrow’s — global economy.
This means constantly innovating to stay ahead of the curve, working with the right partners to provide the most diverse set of capabilities for our customers, and offering the most popular — and most relevant — payment methods around the world.
And most importantly, we allow all of this to happen in one easy and simple integration.
As another crucial step toward providing the best service for our customers, we are excited to announce that starting today, Braintree merchants in the US will be able to accept Samsung Pay for in-app payments. With just a few lines of code, merchants can quickly integrate Samsung Pay into their checkout process, allowing millions of Samsung Pay users to transact in a familiar way with their favorite merchants. Boxed is among the first merchants to adopt Samsung Pay via Braintree.
Earlier this year, we announced that PayPal consumers in the US would be able to use PayPal within Samsung Pay at millions of retailers. Today’s launch is just another proofpoint of our strong and continued partnership with Samsung. By allowing US merchants to accept Samsung Pay through Braintree, we are continuing to break down barriers at checkout for our merchants and deliver even more value and choice within the checkout experience for our collective customers.
Bitcoin ATM operator Coinsource gets NYDFS license
Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Coinsource, Inc. for a virtual currency license.
Coinsource owns and operates touchscreen kiosks, which allow customers to buy Bitcoin with, or sell Bitcoin for, fiat currency in the form of cash. Coinsource is the first DFS virtual currency licensee to operate Bitcoin Teller Machines (BTM).
“Today’s approval is a further step in implementing strong regulatory safeguards and effective risk-based controls while encouraging the responsible growth of financial innovation,” said Superintendent Vullo. “New York’s financial services marketplace is thriving with companies committed to complying with DFS’s regulations that ensure the security of transactions, safeguard the industry and protect consumers.”
DFS has rapidly responded to innovations by licensing technology-based money transmitters under New York’s money transmitter law; online lenders under New York’s banking law; and virtual currency exchanges under New York’s financial services law. To date, DFS has approved twelve charters or licenses for companies in the virtual currency marketplace.
Presently Coinsource operates 40 Bitcoin kiosks in New York, located in New York City, Westchester and Nassau County. The company allows customers to insert cash and buy bitcoin (and store it on their mobile wallet) or sell bitcoin for cash (by scanning their mobile wallet at the kiosk).
deVere launches actively managed cryptocurrency solution as Bitcoin turns 10
A pioneering actively managed cryptocurrency solution has today been launched by one of the world’s largest independent financial advisory organisations.
deVere Group has founded the deVere Digital Asset Funds, a suite of digital currency solutions for experienced investors, in association with Dalma Capital Management Limited, a prominent hedge fund manager in the Dubai International Financial Centre.
It comes a day after Bitcoin, the world’s original digital currency, and still largest by market capitalization, reached its 10th anniversary.
Nigel Green, founder and CEO of deVere Group, comments: “Cryptocurrencies are now undeniably part of mainstream finance.
“Their momentum continues to gain traction as both retail and institutional investors increasingly value the need and demand for digital, global currencies in today’s ever-more digitalised and globalised world.
“The crypto market continues to expand considerably, with mass adoption on the horizon.
“These actively managed cryptocurrency solutions address growing demand by clients who want the potential associated benefits of exposure to the digital currency sector – which typically include portfolio diversification and decent returns – but with reduced volatility for which the market is known.”
StashAway launches robo-advisory services in Malaysia
StashAway, a robo-advisor headquartered in Singapore, has made available its services in Malaysia. StashAway delivers an intelligent, data-driven asset allocation investment strategy with no minimum balance, no sales charge, annual management fees between just 0.2% and 0.8%, and flexible deposits and withdrawals.
The platform is currently being rolled out to the 5,000+ people who have signed up for the waitlist, and the company plans to open up access to the public by early November. The platform is accessible at www.stashaway.my, and on the Google Play Store and the App Store.
StashAway personalises financial advice and portfolio management with its advanced, propriety investment framework, ERAA (Economic Regime-based Asset Allocation) for both retail and accredited investors. ERAA combines a comprehensive risk management strategy with a macroeconomic data-driven asset allocation strategy. With risk management at the very heart of the investment strategy, ERAA is intrinsically designed to navigate the ups and downs of economic cycles. In-depth backtesting indicates that ERAA would have outperformed in risk- adjusted terms during the 2008 Financial Crisis.
