1.UK - FinTech
The new policy also covers when a customer has a confirmed Covid-19 diagnosis and can’t use event tickets purchased using their Revolut account.”
2. UK – FinTech
A fantastically opaque primer on DeFi appears in City A.M. Here’s the kicker, for those who want to believe in the magical “few lines of code”.
“As the industry matures, we expect to see the communities of these projects attempt to find suitable ways of capturing the value that their network creates. These will look more like the value accrual formulas we see in equities and other capital assets. The community can make the UNI token more valuable by issuing a dividend, burning/removing UNI tokens from the supply, paying down debt, reinvesting in further development and even performing mergers and acquisitions of other protocols.
This new DeFi movement is the financial wild west. Investing in DeFi tokens carries high risk, but somewhere in all the madness are a few lines of code that may change the world of finance as we know it.”
3. UK – FinTech
“The UK fintech sector has retained its role as the top-ranking investment destination in Europe, with $4.1bn invested across a total of 408 deals in 2020.
The figures from Innovate Finance represent a YoY drop of 9%, explained away as a shift driven by the global pandemic. Globally, the UK ranks second only to the US in total capital raised.
Charlotte Crosswell, CEO of Innovate Finance, comments: “The pandemic has created new barriers for many companies seeking funding, so it is all the more vital that we support our innovative companies to fuel their future success and growth. The upcoming FinTech Strategic Review is a key step on that path that will help to ensure long-term, sustained investment.”
Overall, global fintech investment for 2020 reached $44 billion across 3,052 deals. Total investment increased by 14%. The US attracted investment of $22 billion, up 29%, while Indonesia ranked third with $3.3 billion and India fourth with $2.6 billion.”
4. US – FinTech
“While recent headlines may be focused on the meteoric rise of Bitcoin, another disruptive technology derived from the famed cryptocurrency may have even more profound implications for the future: blockchain-based “smart contracts.” A wide variety of companies are already experimenting with the ability of smart contracts to automatically transfer assets among parties over secure computer networks. With their promise to increase efficiencies and reduce costs by cutting out traditional intermediaries, such as escrow agents and banks, the future of smart contracts looks bright indeed. However, a question still remains of whether the law will be able to keep up with this innovation.
As smart contracts become more commonplace, the risk of failing to enact new laws to define parties’ rights and obligations in conducting blockchain-based asset transfers grows exponentiallyClick to Tweet
Traditional legal frameworks, such as contract or property law, act as road maps for private parties seeking to create and enforce legal rights. However, unlike human beings’ ability to adapt quickly to dramatic innovations in technology, legal frameworks are less flexible. Our laws, and the legal rights that emanate from them, are based on hundreds of years of trial and error. While they may have been well-suited for the 20th century, smart contracts have the potential to conflate these frameworks and leave parties in a type of legal “no man’s land.”
5. US – FinTech
“With interest rates at historic lows, Revolut is offering its UK savers with USD balances a new option to park their cash in an Investec-powered savings account.
The USD Saving Vault comes with interest rates of between 0.4 per cent and 0.65 per cent depending on the customer’s Revolut subscription plan.
“Many of our customers choose to hold a number of different currencies in their Revolut accounts, and now we’re able to help their money grow with daily interest while they’re holding GBP or USD,” said Revolut’s CEO and founder Nik Storonsky.
Storonsky said bringing USD savings accounts to the UK is just the start, Revolut plans to roll the accounts out to other European markets in the future.
This move is strategically important as it moves Revolut further away from its role as a pure spending card, and towards being a place where travellers or those with overseas income might start holding larger balances with the fintech—something which Revolut can take advantage of if it manages to secure a banking licence.”