Tagged: facebook

January 3, 2021 @ 9:00 pm By Timothy Li  |  

Fintech enthusiasts welcome back to my 5th annual “Top Ten” Fintech prediction series. This year I’ve met a lot of powerful movers and shakers in the Fintech space. My take away from these meetings and interactions is how little do I know about this ever-expanding… Read More

December 2, 2020 @ 9:33 pm By Omar Faridi  |  

Governments across the globe are always trying to create a balance between enabling or supporting tech advancements and innovation while preventing large companies such as Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB) from unfairly using their dominant position to eliminate smaller competitors. India is reportedly planning to… Read More

December 1, 2020 @ 11:00 am By JD Alois  |  

The Libra Association, the initiative launched by Facebook to create a global digital currency, has changed its name to Diem, according to a note from the group. Recently, there have been multiple reports that the Diem Association is gearing up to launch its digital currency…. Read More

November 6, 2020 @ 7:26 am By Omar Faridi  |  

Facebook (NASDAQ:FB) owned WhatsApp has reportedly received approval to introduce its digital payments services in India. The National Payments Corporation of India (NPCI), which is an umbrella organization for operating or managing retail payments and settlement systems in the country, has given WhatsApp the green… Read More

September 15, 2020 @ 9:04 pm By Omar Faridi  |  

India’s 5paisa, a publicly-listed Fintech company, has introduced the option to acquire international stocks. Prakarsh Gagdani, CEO at 5paisa, confirms that the new service allows its customers to invest in shares listed on Indian stock exchanges and it also allows them to acquire US stocks…. Read More

August 17, 2020 @ 7:57 am By Omar Faridi  |  

Leading cryptocurrency exchange Binance reveals that if you had invested $1,000 on Jan 1,  2020, in both Amazon (NASDAQ:AMZN) stock and Bitcoin (BTC), you would have earned significantly more from your Amazon holdings, when compared to the price appreciation of the leading digital currency. However,… Read More

August 11, 2020 @ 9:42 am By Omar Faridi  |  

Facebook Inc. (NASDAQ:FB), which currently has a market cap of around $750 billion, employs over 52,000 workers, and generated over $70 billion in revenue last year, has introduced a new group to focus on payments and digital commerce opportunities. David Marcus, the co-creator of the… Read More

June 24, 2020 @ 7:44 am By Omar Faridi  |  

Brazil’s reserve bank has reportedly instructed Mastercard and Visa to suspend processing transactions on behalf of WhatsApp. As reported on June 15, 2020, the Facebook-owned WhatsApp messaging platform began facilitating payments in Brazil. However, the Central Bank of Brazil (BC) has now taken action against… Read More

June 21, 2020 @ 1:25 pm By Omar Faridi  |  

Technological advancements, money and payment systems have been closely linked from the earliest days of society and human civilization. However, technology is now transforming money and global payment platforms “to an extent and speed never before seen,” according to recent paper titled, “After Libra, Digital… Read More

June 15, 2020 @ 12:06 pm By JD Alois  |  

Facebook’s WhatsApp messaging platform is now facilitating payments in Brazil, according to a post by Facebook founder Mark Zuckerberg. WhatsApp was acquired by Facebook (NASDAQ:FB) in 2014 for approximately $19.3 billion. WhatsApp is the world’s most popular messaging application with over 2 billion users worldwide…. Read More

June 15, 2020 @ 7:28 am By Omar Faridi  |  

WhatsApp Payments, an in-chat payment feature that lets customers perform transfers through the messaging app to anyone in their contact list, may finally be on track to achieve mass adoption in India. WhatsApp is owned by Facebook, (NASDAQ:FB) who bought the social media platform in… Read More

June 14, 2020 @ 4:40 pm By Omar Faridi  |  

  The controversial Facebook-led Libra project is reportedly the most active project in terms of developer activity, according to CoinCodeCap data. There are 41 active developers working on Libra, meanwhile, Ethereum (ETH), the world’s largest smart contract platform, has 36 active developers, the data site… Read More

June 1, 2020 @ 11:30 pm By Omar Faridi  |  

Stablecoins are digital assets pegged 1-to-1 (in most cases) to major world currencies like the  US dollar or British pound (GBP), or even gold.  In most cases, stablecoin tokens are based on blockchain or some type of distributed ledger technology (DLT). The largest amount or… Read More

May 23, 2020 @ 2:54 pm By Omar Faridi  |  

We recently talked to Lex Sokolin, the Global Fintech Co-Head and CMO at ConsenSys, a leading Ethereum (ETH) development studio based in New York. Before joining ConsenSys, Sokolin was the Global Director of Fintech Strategy at Autonomous Research, a firm that was eventually acquired by… Read More

May 19, 2020 @ 9:27 am By JD Alois  |  

The Libra Association, based in Switzerland, continues to build out its executive bench. Today, Libra has announced the selection of Robert Werner as its General Counsel. Created by Facebook (NASDAQ:FB), Libra is envisioned as a digital currency operated on a distributed ledger platform. According to… Read More

May 14, 2020 @ 7:28 pm By JD Alois  |  

The Libra Association has added three new members: Temasek, Paradigm, and Slow Ventures. Launched by Facebook, the Libra Association is a Switzerland-based independent entity seeking to launch a blockchain-based payment system. Recently, Libra tweaked its white-paper backing away from its original intent to launch a… Read More

April 21, 2020 @ 7:56 pm By Omar Faridi  |  

Heifer International, a nonprofit entity that aims to address issues related to global hunger and poverty, is the most recent organization to join the Facebook-led Libra Association. Heifer claims that the Libra stablecoin and payment system (under development) could help low-income farmers gain access to… Read More

April 16, 2020 @ 11:01 am By JD Alois  |  

The Swiss Financial Market Supervisory Authority (FINMA) has distributed a statement on Libra’s application for a “payment system license.” Initiated by Facebook, Libra is a digital currency attempting to facilitate payments globally outside of the traditional payments rails. The Libra Association is headquartered in Geneva,… Read More

April 16, 2020 @ 10:34 am By JD Alois  |  

The Libra Association, Facebook’s push to create a global non-sovereign digital currency, is applying for a Payment System License from the Financial Markets Supervisory Authority (FINMA) in Switzerland. In addition to applying for the FINMA license and updating the white paper, the Libra Foundation reports… Read More

March 4, 2020 @ 12:05 pm By Omar Faridi  |  

Menlo Park, California-based social media giant Facebook (NASDAQ:FB) appears to be stepping away from the controversial Libra cryptocurrency project that it introduced in June 2019. Facebook’s management says it will be creating several separate or independent virtual tokens, with each pegged or backed by different national… Read More