F|T: The FinTech Times – Kik launches cryptocurrency; Bank of Canada says DLT not ready

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Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.

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STACK FinTech Times

DMZ launches FinTech accelerator with BMO(BETAKIT)

“It’s beyond just making the DMZ great, it’s also making the city of Toronto great,” said DMZ executive director Abdullah Snobar.

STACK RECOMMENDS: As countries develop strategies, we need a FinTech champion(THE GLOBE AND MAIL)

“With most of the elements required to be a global leader in the industry, what Canada needs now is a FinTech champion.”
– Miro Pavletic, CEO and co-founder of STACK

#PayCanSummit argues open data is critical for FinTech innovation(BETAKIT)

“When you’re in financial services and you’re in tech, you’re a startup…what you’re building is trust,” said Christian Ali, chief marketing officer at Dream Payments.

Bank of Canada says DLT not ready for interbank payment system(FINEXTRA)

“Could DLT underpin an entire wholesale payment system? The answer is maybe one day, but there remain many hurdles to overcome,” wrote Carolyn Wilkins, senior deputy governor at the Bank of Canada, and Gerry Gaetz, president of Payments Canada.

Distributed ledger consortium R3 closes record $107 million funding round(COINDESK)

Over 40 financial institutions participated in the $107M round, including top member investors SBI Group, Bank of America, Merrill Lynch, and HSBC.

Kik launches Kin to drive mainstream adoption of cryptocurrency(BETAKIT)

Kin will be created as an ERC20 token on the Ethereum blockchain, and will be integrated into Kik as the primary transaction currency.

Silicon Valley’s romance with FinTech startups is dwindling(INC)

Don’t worry, there’s already a new suitor on the horizon.

TMX develops blockchain prototype for energy business(FINEXTRA)

NGX has collaborated with Nuco, a digital infrastructure provider, to build a new system using Distributed Ledger Technology to improve the tracking of natural gas flows at delivery locations in the United States.

Payment firm Soft Space raises $5M to expand in Southeast Asia and Japan(TECHCRUNCH)

Soft Space, which works with enterprise customers to offer customized mobile payments solutions, raised the funds from Japan-based Transcosmos.

Android Pay expected to launch in Canada on May 31(BETAKIT)

Android Pay will reportedly work with major credit and debit cards in Canada.

Discover to expand in Canada with Desjardins(FINEXTRA)

Merchants that have business relationships with Desjardins are now able to accept cards that run on the Discover Global Network, including Discover, Diners Club and alliance partner cards.

Report: 50 percent of Canadians “somewhat” anxious about the arrival of e-wallets(BETAKIT)

Almost two-thirds of respondents are even more anxious about tech like artificial intelligence and self-driving cars.

Merlon Intelligence raises $7.65 million in seed financing to combat money laundering(TECHCRUNCH)

The round was led by Data Collective, with participation from Fenway Summer, Nyca, and Work-Bench as investors.

Gamified finance app Long Game raises $6 million in seed funding(FINEXTRA)

Long Game, a personal finance app that encouragers users to save money while winning prizes, raised the funds from Collaborative Fund and Thrive Capital, among others.

FinTech tools that can change the world of finance(FORBES)

Twelve members of Forbes Finance Council talk about their favorite financial technology tools and software and how they can cause a shift in the current financial services market.


Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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