Australia is beginning to feel the digital banking waves as challengers Volt and Judo begin to make inroads into a...
Southern Cross Financial is seeking to take advantage of New Zealand's expanding real estate supply with challenges in traditional mortgage lending; on December 1, the firm will become a P2P mortgage lender, evolving from a mortgage brokerage business; the firm has been arranging loans between alternative credit consumers and approximately 150 investors as a mortgage broker; the new P2P structure will provide a more standardized process for borrowers and investors. Source
ASX has come under pressure to delay the implementation of a plan to use blockchain to clear and settle equities...
In a move that goes counter to the current regulatory trend the Taiwanese government has taken a positive approach to the new cryptocurrency market; "Just because China and South Korea are banning, doesn't mean that Taiwan should follow suit – there is a huge opportunity for growth in the future,” explained Wellington Koo, Chairman of Taiwan's Financial Supervisory Commission. Source.
Visa, Mastercard Fined Wirecard for Dubious Transactions Mexico-Based Prop Tech Flat.mx Secures $25 Million in Debt Financing From Arc Labs...
The People's Bank of China (PBOC) had meetings with various bitcoin exchanges this week including BTCC, OKCoin and Huobi; along with the meetings two press releases were issued; according to a translation from Coindesk, the document reads, "Bitcoin is not a currency and shouldn't be viewed as such. Those who invest in bitcoin should accordingly be aware of the risks it poses and protect their investment"; officials also reminded exchanges about complying with local state laws and other regulations. Source
CFPB to give more information to firms under investigation The head of Credit Suisse’s blockchain efforts said culture is the...
Yirendai is being sued by shareholders for inadequate transparency, regulatory activity and risk management regarding Chinese government regulations; the company has requested the court toss the case; the case is focused on worst case revenue predictions that the company says were never realized. Source
Chinese online consumer lender Yirendai has announced progression toward securitization of a portfolio of consumer loans; the firm has transferred an existing trust fund of RMB300 million ($43.6 million) used to fund loans on its platform to Bohai International Trust Co., Ltd., and the firm has completed the issuance of asset-backed securities in the amount of RMB300 million through private placements. Source
Nuoyuan Technology is optimistic about financial innovation in China and globally; the firm is growing its business in China and through its subordinate business, Nuoyuan Online Platform, offers a service that connects borrowers with lenders; Nuoyuan Online has now helped to finance over 5 billion RMB and has over 600,000 users; in their featured blog post they discuss the global market for fintech innovation and their expectations for the future. Sponsored Blog Post