The UK Treasury Committee has said consumer trading and investing in crypto should be regulated as gambling rather than as a financial service. It said crypto has no intrinsic value.
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Vodafone has reported that its M-Pesa financial services platform has passed 50 million users after 14 years of operations on the African continent. It had 25 million users in 2016.
Square is acquiring "buy now, pay later" platform Afterpay for $29 billion in a move that will expand its presence in the financial tech segment. The acquisition is expected to complete in Q1 2022.
The financial services firm, Wise, will be going public via a directing listing rather than an IPO. The firm will be listed on the London Stock Exchange rather than the NYSE or Nasdaq.
Opera has launched a new fintech called Dify. Dify will provide users with cashback at certain retailers and in future it will introduce new services like savings management, credit, and more.
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The multinational banking firm has teamed up with Microsoft in order to pursue its goal of becoming a cloud-first bank. The strategic partnership between the firms is set to continue for three years.
The partnership will focus on extending Mastercard's cloud services for its clients, alongside development of new business models. Financial inclusion will also be a core component of the partnership.
The UK government has announced the Tech for Growth programme which aims to boost financial services in the Global South using technology. In the first year, the programme will focus on Africa.
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Intelligent Environments has created a platform that links to the Pavlok wristband, delivering a 255 volt electric shock if you overspend on your bank account. Other devices are also being integrated.
Google has announced it will be changing its advertising policy from July 13th. The changes will impose tighter restrictions on financial services ads, where interest rates are considered high.
Microsoft has published a blog post announcing a new strategic partnership with R3, a leading financial services consortium, to bring blockchain technologies into mainstream banking.
