Fintech is rapidly transforming the very essence of global financial services. Here are predictions for the financial services market for 2020 based on what we’ve observed globally and locally. By Dominique Collett.
Bitcoin climbed to its highest since November as the debut trade of options linked to the digital currency boosted sentiment.
JPMorgan has declined to comment on suggestions that it pressured First National Bank, through parent FirstRand, to shut the bank accounts of South African cryptocurrency exchanges.
JPMorgan pressured First National Bank to close the accounts of cryptocurrency exchanges in South Africa, according to two separate sources. FNB has strongly denied that external pressure forced its hand.
First National Bank provided more insight on Wednesday into why it has given notice to cryptocurrency trading platforms in South Africa that it will shut their bank accounts.
South African online payments provider PayFast is ditching bitcoin as a payment method, saying the cryptocurrency has several “limitations and design flaws that make it an impractical substitute for cash”.
VALR.com will offer ether-rand trading from next week as the cryptocurrency exchange, backed by former FNB CEO Michael Jordaan, ramps up its efforts to tackle Naspers-backed market leader Luno.
Naspers CEO Bob van Dijk believes cryptocurrencies could have a huge and positive impact on societies by allowing for frictionless and costless transfer of value between people.
Naspers-backed cryptocurrency platform Luno is planning to increase its workforce by almost 60% to expand its South African headquarters and enter new markets in Southeast Asia.
Money has evolved over thousands of years and continues to change. Cryptocurrency will ultimately upgrade the world to a better financial system despite the volatility. By Marius Reitz.
