South Africa to Establish a Strong Foothold in Fintech Sector
The year 2017 is predicted to push fintech and blockchain segment in South Africa. The next fintech and blockchain revolution is waiting to happen in South Africa. The country is already home for some of the most innovative startups, and with the new fintech wave catching up, more startups are expected to raise their heads by the end of this year. According to a leading regional startup news platform, most of the innovations in the year 2017 will be focused on mobile payments, digital banking, Bitcoin, SME financing, data analytics, real estate and automation solutions. Incidentally, all....
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Following the South Korean government’s determined push to support and encourage Fintech development, announced in late October, the country’s Fintech startups are looking to gain a foothold in China. Five South Korean Firms and interested business partners in China were a part of a pitch made today by the firms in Beijing, according to the Korea Herald. The event, titled “Fintech Demo Day in Beijing”, was funded by the South Korean government and saw the country’s industry startups showcase technologies such as a mobile wallet, biometric identification, and a robo-adviser, among other....
South Korea announced today that it plans to promote the FinTech sector in the country through the expansion of digital currency such as bitcoin, reports The Korea Herald. Not one to fall behind in the digital currency adoption race, the South Korean government is pushing ahead with the system expansion of the digital currency, in a bid to keep up with other countries. It will also offer three trillion won ($2.65 billion) in financial support over the next three years as it develops the FinTech sector in South Korea. Yim Jong-yong, chairman of the Financial Services Commission, said in a....
The list of regulators warning that Binance is illegally operating in their jurisdictions continues to grow. The authorities in Singapore and South Africa have become the latest to warn that the global cryptocurrency exchange may be in breach of their local laws.
South Africa’s Financial Sector Conduct Authority Warns Against Binance
The South African financial regulator issued a notice Friday about Binance, stating:
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when dealing with Binance Group as they are not authorised to....
Chipper Cash, an African fintech start-up, has extended its peer-to-peer instant money service to South Africa. In addition to being able to use the remittance service, South African users will be able to buy, sell, and transfer cryptocurrencies like bitcoin, ethereum, and the USDC stablecoin. South Africa Ripe for Disruption and Innovation According to a report that quotes the start-up’s VP for strategy and partnerships in Africa, Pardon Mujakachi, Chipper Cash has made the foray into South Africa because it believes the country “is ripe for disruption and innovation in the....
The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021.....