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Dream Payments partners with Mastercard to speed up insurance payments (BETAKIT)
Fairfax-owned Northbridge Financial will be the first insurance provider in Canada to use the Mastercard Send platform through the Dream Payments Hub.
Teen debit card Current raises $1 million more from Fifth Third Capital(TECHCRUNCH)
Current provides a smart debit card for kids that works with an app on parents’ smartphones where they can automate allowance transfers and optionally set up tasks and chores that have to be completed before allowance is paid.
TD Bank stops allowing credit card purchases of cryptocurrency
(THE STAR)
Several U.S. banks also recently put a stop to permitting customers to buy Bitcoin and other cryptocurrencies with credit cards.
Kik’s Ted Livingston says the world-changing idea behind bitcoin isn’t what you think(BETAKIT)
“Bitcoin is only the first decentralized incentive platform. There are many other problems we can work together to solve in a similar way.”
Bill Gates: cryptocurrencies have ’caused deaths in a fairly direct way’(THE GUARDIAN)
“Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way,” said Gates.
FinTech startups need industry partners, report says (BLOOMBERG)
More than 75 percent of FinTech executives said their primary business objective is to collaborate with traditional firms, such as banks and insurance companies, according to a new report by Capgemini and LinkedIn.
Cheap hydro electricity draws cryptocurrency miners to Quebec (BETAKIT)
Cheap hydro and reliable electricity is a must for miners.
Rakuten will roll its $9B loyalty program into a new blockchain-based cryptocurrency, Rakuten Coin(TECHCRUNCH)
Rakuten hopes to use the cryptocurrency to attract more international customers by positioning it as a “borderless” payment method that could mitigate exchange rate fees.
Federal budget keeps Canada’s FinTech sector in the ‘valley of death’ (THE GLOBE AND MAIL)
“[T]he 2018 budget continues to focus on the right themes: promoting innovation; equipping Canadians with the skills to succeed in the digital economy; and creating economic growth and opportunity for all. Despite these lofty goals, the budget fails to mention the one sector that has the potential to achieve all three objectives: financial technologies or ‘FinTech.'”
Virgin Money spends £38.3 million to build new digital bank (FINEXTRA)
Virgin Money is aiming to broaden its appeal in the SME market and extend its offering into current accounts and savings through the creation of a “data-driven, customer-centric” digital bank.
The man who claimed to invent bitcoin is being sued for $10 billion (FORBES)
Australian Craig Wright, who claimed to be Bitcoin’s anonymous creator in 2016, is being sued by deceased coder Dave Kleiman’s estate for up to 1,100,111 bitcoins worth over $10 billion USD and intellectual property related to Bitcoin software.
MindBridge AI announces new enhancements to platform (BETAKIT)
MindBridge AI said it is integrating with QuickBooks Online, Intacct and NetSuite; offering tailored analysis for General Ledger and Accounts Payable; and building financial reports including income statement, financial trending, and ratio analysis.