tZero, a company is a majority owned subsidiary of Overstock.com, focusing on the development and commercialization of FinTech based on blockchain has appointed Alan Konevsky as its chief legal officer (CLO). Konevsky, who was most recently a senior vice president at Mastercard, will oversee tZERO’s expanding legal, regulatory, public policy and compliance functions.
Gottfried Leibbrandt of SWIFT (Society for Worldwide Interbank Financial Telecommunication) will be vacating his office of Chief executive officer (CEO) by June 2019. He had been heading the company for the past seven years, that is since 2012. Since 2016 hacker heist many startups in the fintech sector have emerged to use blockchain technology and digital currencies in cross-border payments.
The LINE Plus Corporation has declared GrayHash, an online security research center, acquisition. The GrayHash has been renamed as GrayLab. The acquisition is aimed to bring security solutions to the LINE’s services encircling fintech, messenger, AI, blockchain and the digital asset exchange. The CEO and co-founder of GaryHash, SeungJin would continue to chief GrayLab.
As an effort in gaining a deeper understanding regarding the emerging blockchain technology, the US Securities and Exchange Commission (SEC) has recently launched the Strategic Hub for Innovation and Financial Technology (FinHub), headed by Valerie A. Szczepanik, to engage with cryptocurrency and blockchain-related start-ups. The FinHub would be used to spread all information expressed by the SEC.
A mobile payments company based in Canada has recently announced the support for Bitcoin (BTC) as a payment method. The CEO of Glance Technologies, Desmond Griffin explained, “Pay With Bitcoin allows Glance users to unlock the value of their crypto assets for use in their everyday lives while seamlessly opening up a new cutting-edge payment method for merchants.”
The IMF Deputy General Counsel, Ross Leckow quoted, “The IMF is devoting a lot of attention to fintech and in particular to blockchain,” while addressing the Singapore Fintech Festival 2018. The official also recognized artificial intelligence (AI), distributed ledger technology (DLT), crypto assets and others. Leckow declared, “This will be an anchor for much of our work going forward.”
The Sygnum fintech company has declared association with a blockchain firm daura aimed at the development of a solution for the safe issuance of digital assets including tokenized shares. The Sygnum aims to equip the financial services infrastructure. Reportedly, the fintech firm has formed a joint venture with Swisscom for introducing secure storage of digital assets called Custodigit.
The multinational conglomerate Berkshire Hathaway has recently invested $600 million in two fintech payment companies. The company has purchased stake worth $300 million in the parent company of Paytm and has purchased shares in the StoneCo through the initial public offering. Warren Buffett has once stated that the tech investments are beyond the area of his expertise.
The Bithumb has entered into a deal with SeriesOne for the launch of a securities token exchange in the U.S. The Bithumb Company believes the SeriesOne fintech firm as the suitable partner. The company announced, “Bithumb will ramp up efforts to develop into a global financial firm as the blockchain-based asset tokenization is expected to spread globally down the road.”
Nasdaq has revealed its plan to acquire Cinnober, a fin-tech provider, under a $190 million deal. The chief executive of Nasdaq, Adena Friedman stated, “This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments.” Nasdaq would pay the acquisition cost with either cash on hand or on credit.
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