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Royal Bank of Scotland Onboards Former Circle Exec to Head Fintech...

The Royal Bank of Scotland has hired a CEO for its digital banking service Mettle, Marieke Flament — a former managing director at the crypto firm Circle. The Roybal Bank of Scotland (RBS) has hired a former executive from cryptocurrency finance firm Circle, according to a report by the Financial Times on June 18. Marieke Flament, who formerly worked as the European managing director of Circle, will reportedly join RBS as CEO of Mettle, its digital service for small and medium-sized enterprises (SMEs). Mettle has reportedly been operational since November 2018, and RBS is aiming to roll out a standalone version of the service in August. Flament commented on potential for financial disruption in the SME sector with Mettle, saying: “There is a huge opportunity for disruption in SME digital banking. Insight and feedback garnered during the pilot stage have shown that we are in a very strong position to capitalize on this opportunity through Mettle.” As previously reported by Cointelegrap..

BNP Paribas Venture Arm Among Investors to Inject $16.5M in Fintech...

Token says it will use the investment to develop its operating system and “accelerate new ways of innovating payments with digital money and ID solutions.” Fintech firm Token has received a $16.5 million injection from investors including the venture arm of banking giant BNP Paribas, a news release announced on June 18. The self-described open banking platform says it will use the capital to further develop its TokenOSTM operating system — and “accelerate new ways of innovating payments with digital money and ID solutions.” According to the company, its ecosystem enables banks, customers and developers to complete transactions securely, instantly and with less friction. Token claims more than 4,000 banks have connected to its platform, with Mastercard recently coming on board as a partner. Steve Kirsch, Token’s founder and CEO, said: “For banks, establishing an early position in this new hyper-connected market is a competitive advantage; a new wave of independent financial apps and se..

3 Top Executives Depart Online Lending Fintech Startup SoFi

Fintech startup SoFi — known for its online lending services — has seen three top executives depart from the company. Fintech startup SoFi — known for its online lending services — has seen three of its top executives depart from the company, the Wall Street Journal reports on June 4. As Cointelegraph reported at the time, SoFi partnered with major United States-based crypto exchange Coinbase in February to roll out crypto trading support. Per the WSJ report, head of risk, Kevin Moss, the lender’s top capital markets executive, Ashish Jain, and marketing chief, Joanne Bradford, recently told CEO Anthony Noto about their plans to abandon their positions. All three have reportedly been working at the company before Noto took place as CEO last year. Bradford, former Pinterest and Yahoo executive, was responsible for overseeing SoFi’s marketing, while Moss, a former executive at Wells Fargo, set the startup’s lending standards and Jain managed interactions with banks. A SoFi representativ..

Chinese Central Bank-Led Fintech Research Institute Seeks New Blockchain Talent

A fintech research institute established by China's central bank has posted several new job openings for blockchain talent. A fintech research institute established by China's central bank, the People’s Bank of China (PBoC), has posted several new job openings for blockchain talent. The three listings were published to Chinese recruitment website Lagou.com on May 21. As its profile on Lagou.com outlines, the Shenzhen Fintech Research Institute is a unit jointly organized by the PBoC’s Digital Currency Research Institute, the Shenzhen Local Financial Supervision Bureau and the Futian District People's Government. It is tasked with spearheading fintech and digital currency-related development projects under the aegis of the central bank and the Shenzhen municipal government. The new listings for blockchain talent have been posted as part of a broader recruitment effort, with openings for a total of 29 positions. The institute is specifically seeking to fill three new role..

Facebook Registers New Fintech Firm in Switzerland

Facebook has registered a new fintech firm that will center on blockchain, payments, data analytics, and investing. Social media giant Facebook has apparently formed a new financial tech firm, Libra Networks LLC, according to a filing on the Geneva Commercial Register. Libra Networks was registered in Geneva on May 2 by Facebook Global Holdings II LLC. Per the official filing the firm provides: “...services in the fields of finance and technology, as well as the development and production of software and related infrastructure, in particular in connection with investment activities, the operation of payments, financing, identity management, data analysis, big data, blockchain and other technologies.” Facebook registered the trademark “Libra” with the United States Patent and Trademark Office back in June, which was reportedly part of its secretretive in-house crypto project. Facebook has also hired two cryptocurrency compliance experts who formerly worked at the major crypto exchange ..

Fintech Firm Billion Seals $2.1 Mln European Commission Grant for Blockchain...

Billon has reportedly sealed an almost €2 million grant from the European Commission’s SME Instrument program. Polish-British fintech firm Billon has reportedly sealed an almost €2 million (~$2.1 million) grant from European Commission’s Small and Medium-Sized Enterprises (SME) Instrument program to develop a blockchain document management system. The news was reported by Billion in a press release on May 14. The Commission’s SME Instrument program provides funding for innovation projects which are close-to-market, and has reportedly awarded Billon a grant under Phase 2 of the program — which provides enterprises with up to 70% of the costs of their proposed project. Billon’s system, dubbed B4TDM (Blockchain for Trusted Document Management), is reportedly a proprietary blockchain-powered solution for storing, signing and sharing digitized documents. The system reportedly both digitizes documentation and provides encryption and customizable access control rights. Billon is said to have..

Fintech Company Launches Crypto Exchange Platform Integrated Into Social Investing Network

sponsored A new cryptocurrency exchange platform allows users to trade by themselves and to copy strategies of the best performers on its interconnected social investing platform. Hamburg-based fintech company Naga has released its new exchange platform, Nagax, after an intensive beta testing period. The developer promises a user-friendly interface and “super-fast execution,” as the system supports more than 10 million transactions per second. The new platform is integrated into the social investing network — also known as Naga Trader. According to the company, it is used by more than half a million traders around the world. Nagax will be connected to the Naga platform through its own cryptocurrency wallet, the Naga Wallet: It supports major crypto, all ERC-20 tokens, as well company's native currency — the Naga Coin (NGC) — and allows users to send coins and tokens directly to their contacts via their email address. The company says it will provide zero fees for the first three..

US Lawmakers Form Fintech Task Force to Examine Industry

The U.S. House Financial Services Committee has passed a resolution to form the Task Force on Financial Technology. The United States House of Representatives Financial Services Committee has passed a resolution to form the Task Force on Financial Technology, according to a press release by the committee on May 9. The new task force purports to “examine the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech.” Congressman Stephen Lynch (D), the newly appointed chair of the Task Force on Financial Technology, commented in a press release on the need for the committee to reevaluate how to best protect consumers using new fintech: “The lives of consumers are changing with user-friendly financial service apps but these emerging technologies come with vulnerabilities and the need to reevaluate our consumer protection standards.” Some noted crypto-friendly representatives such as Warren Davidson (R) and Tom Emmer (R) will be joining the ..

South Korea: Financial Regulator Authorizes 9 Fintech, Blockchain Firms for Trial...

The South Korean financial regulator authorized nine companies, some of which use blockchain, to operate in the sandbox. The South Korean Financial Services Commission (FSC) has authorized nine fintech companies to operate in the country as part of a regulatory sandbox, English-language local media The Korea Times reported on May 2. Per the report, the regulator has named the aforementioned nine startups and companies to provide innovative services using blockchain, fifth-generation telecommunications and other new technologies. The development is reportedly part of a broader financial regulatory sandbox initiative launched last January. The sandbox will reportedly include new financial services being offered for a trial period of up to four years without regulatory limits. A service provided by the Woori Bank enabling customers to exchange currency and withdraw cash at restaurants and parking lots near the airport is also reportedly part of the sandbox. The companies that use block..

Austria Considers Establishment of Fintech Regulatory Sandbox

The Ministry of Finance in Austria is considering the establishment of a regulatory sandbox for the fintech industry. The Ministry of Finance in Austria is considering establishing a regulatory sandbox for the fintech industry, Cointelegraph auf Deutsch reports on April 26. The country’s Finance Minister Hartwig Loeger said that the FinTech Advisory Council — which was formed by the Ministry of Finance last year — will aid in the development of relevant rules to steer the “young financial market around digitized financial services,” including initial coin offerings (ICOs) and digital currencies to facilitate their growth. State Secretary Hubert Fuchs said: “For some companies in the fintech industry, it is particularly difficult to keep track of all regulatory requirements and developments right from the start. Many of them give up and discard their business models. We want to take countermeasures against this.” In the regulatory sandbox, fintech companies will purportedly be able to ..
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