Crypto.com has secured full approval from the Central Bank of Bahrain to operate as a payment service provider (PSP) through its local subsidiary. This approval enables Crypto.com to expand its payment services in the region, including e-money offerings as well as the introduction of its prepaid cards. Bahrain’s Minister of Sustainable Development, H.E. Noor bint Ali Alkhulaif, welcomed the company’s […]
2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer […]
US stocks soared, with the Dow Jones Industrial Average (^DJI) closing above the 42,000 level for the first time amid growing optimism that the Federal Reserve’s jumbo interest rate cut will deliver a “soft landing” for the US economy. The S&P 500 (^GSPC) climbed roughly 1.7%, while the Dow rose more than 1.2%, with both […]
Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant. Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to take over on the following […]
The UK’s Department for Business and Trade has revealed that venture capital fund managers who have signed up to the government’s ‘Investing in Women Code’ are more likely to invest in female founders. Just shy of a third (32 per cent) of all venture capital deals made by Investing in Women Code signatories were in female-founded companies […]
Rapid technological advancements and regulatory shifts are hindering operational efficiencies in the fintech sector according to research by Future Finance, the financial services supporting body. Looking to drive innovation in the face of these challenges, Future Finance is leading a new initiative. In this programme, Future Finance will support businesses with the skills and insight […]
Singapore-based fintech Xalts is joining forces with smart contracts platform Avalanche, in a move to support financial services, governments, and other enterprise developers in building digital asset platforms for implementing blockchain, tokenisation, and smart contract applications. Xalts explained that, through its partnership with Avalanche, it will provide out-of-the-box solutions for various use cases such as the tokenisation of […]
Manual processing and error rates can be extremely costly for investors. Looking to cut down on the price they need to pay to remedy these mistakes while giving them more alternative investment options, global financial services company, the Bank of New York Mellon Corporation (BNY), has launched Alts Bridge.Alts Bridge is a comprehensive data, software, […]
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market […]
Tupperware, known the world over for its plastic food storage containers, has filed for bankruptcy after years of falling popularity and financial troubles. “Over the last several years, the company’s financial position has been severely impacted by the challenging macroeconomic environment,” Laurie Ann Goldman, president and CEO of Tupperware Brands Corporation, said in a statement […]
As much as 80 per cent of payment leaders worldwide believe their company requires a complete overhaul of their payment technology stack, according to new research from Primer, the unified infrastructure for global payments. Unsurprisingly, Primer revealed that 75 per cent of payment professionals expect that payments will become more critical to their organisations over […]
Following the experimentation phase of a new ‘UK Regulated Liability Network’ (RLN), UK Finance, the British trade association for the UK banking and financial services sector, has revealed that such a platform could deliver economic value and support innovation in the market. Since April 2024, UK Finance has worked alongside eleven of its members and six […]
