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People’s Bank Of China To Regulate FinTech

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The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. China has become an emerging FinTech market due to its expanding middle class, rapid digitization and electronic payments adoption.

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STC Pay, Moven Team Up To Launch Saudi Challenger Bank

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STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency. Its digital wallet was introduced in October of 2018, enabling users to do things like pay bills, send money internationally and share or transfer money with people they know.

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Jack Ma Summoned For Questioning About $37B Ant IPO

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The People’s Bank of China (PBOC) and regulators from three Chinese agencies are interviewing Ant Group Founder Jack Ma, Chairman Eric Jing, and CEO Simon Hu about the upcoming $37 billion initial public offering (IPO), according to a Financial Times report on Monday (Nov. Ant's third funding round in 2018 raised $10.3

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Alipay Rides The Payments Licensing Trend In Europe

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One of the more recent examples comes from London-based financial technology startup Revolut , which is reportedly “the first London-based FinTech to receive a European banking license.” For example, in 2018, U.K. Starling Bank undertook similar steps. Monzo recently achieved a valuation of $1.3 million people. million people.

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Corporate Treasurers On The Lookout For FinTech, PSD2 And Brexit

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At the top of the list, according to reports, is incoming FinTech disruption, legislation like PSD2, market shifts stemming from Brexit and more. Among the speakers was Graham Taylor, Vodafone’s assistant treasurer, who emphasized the potential for PSD2 regulations to have a profound impact on corporate cash management and payments.

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Singapore’s Big Week In Blockchain Progress

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Reports said officials are looking particularly closely at data privacy and transaction secrecy, as well as regulators’ role in support of DLT overall. Hong Kong is far from the only market Philippines officials and innovators are looking to collaborate with when it comes to blockchain-based global trade.

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Brazil’s Big Blockchain Bounce (And Other Digital Payments Advances)

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The goal is to become one of the most valuable financial technology startups in the world as it eyes a region-wide expansion and seeks a valuation between $8 billion and $10 billion, according to reports in Recode. The goal, according to Ripple, is to add an average of two or three new financial institutions per week to RippleNet.