Issue 2.7 |
FINTECH INDUSTRY NEWS
Last week, ADCCA had the chance to spend time with Canadian counterparts and officials in that country engaging in important discussions on Digital Currency regulatory, AML/Financial Crime prevention, industry Best Practices, and on matters relating to bilateral economic trade issues between our two countries.

This week, the groundwork was laid for further international cooperations with colleagues in Singapore through their DC industry body, the Association of Crypto-Currency Enterprises and Startups (ACCESS).

Memorandums of Cooperation are tentatively scheduled to be signed in the coming weeks between our organisations, in-line with ADCCA's recent understanding with the UK Digital Currency Association  (UKDCA) out of London.

Closer to home in industry news, ADCCA and the greater FinTech community warmly welcomes Ripple Labs Asia Pacific MD to Dilip Rao to Australia where the SF based start-up will be heading it's regional operations base. 

Ripple is one of the worlds leading Blockchain ledger technology start-ups.

In Industry news abroad, Goldman Sachs has raised the stakes in the Digital Currency space announcing an investment of $50 million USD into Bitcoin start-up Circle. 

More on this major development, as well as other Digital Currency and FinTech headlines you can find below.

 

 

Yours very sincerely,


 

Ronald M. Tucker
Chairman ADCCA
Delegate - Bit Trade Australia 
  

'It's Happening: Goldman Sachs Just Dropped $50 Million Into a Bitcoin Startup'
 
 



A bitcoin startup called Circle says that, as of yesterday, they've taken a $50 million in funding in an investment co-led by Goldman Sachs and a Chinese venture firm called IDG Capital Partners. Circle is a company that uses the blockchain-the technology that all bitcoin transactions rest on-to move money quickly with no lumbering transaction fees.

 

In tandem with the investment, Circle is adding more seamless transaction capabilities to make transferring bitcoin, U.S. dollars and the yuan faster and cheaper.

 

"We believe in a hybrid digital economy in which value moves freely around the world and converts into other currencies-including both crypto and fiat currencies-seamlessly, safely, and instantly," Circle founder Jeremy Allaire wrote on the company blog.

 

Goldman added their own comment to Circle's announcement, with Tom Jessop, Managing Director for Goldman's Principal Strategic Investments Group, saying:

"As the financial services industry continues to become more digital and open, we see significant opportunities in companies and solutions that have the promise to transform global markets through technical innovation. We think that Circle's product vision and exceptional management team present a compelling opportunity in the digital payments space."


 

-Read More-

____________________________________________________________________
 
DIGITAL CURRENCY HEADLINES
 

"Starbucks HK Branches Accepting Bitcoin Payment" 


  NewsBTC | 24 April, 2015
 
 

Starbucks branches in Hong Kong are now accepting bitcoin payments and are offering 20% off discount for the purchase using the Fold app. 


 

This app is a U.S. startup that is affiliated with the Bitcoin Association of Hong Kong
 

 

 -Read More-


 

 

 

 

"VC Investing in Bitcoin Rises to the Fastest Pace Yet"

  Mondey Morning | 17 April, 2015

 

 

In the first quarter of 2015, venture capitalists poured $229 million intoBitcoin startups. That was more than double the $144 million invested in Bitcoin in Q4 2014.


 

And it's equal to two-thirds of the $349 million of venture capital invested in Bitcoin in all of 2014.
 

 
-Read More-

 

 

 

 

 

 

"Western Union 'Exploring' Pilot Program With Ripple Labs"
  CoinDesk | 27 April, 2015

 

Global remittance giant Western Union is reportedly working on a pilot program with distributed payment protocol provider Ripple Labs.


 

The news was first revealed in a tweet by Ripple Labs promoting CEO Chris Larsen's appearance at Global Conference 2015, an annual event held by non-profit think tank the Milken Institute.

 

-Read More-

 

 

 

 

"Hollywood Studio Lionsgate Films in Talks to Accept Bitcoin"

  CoinDesk | 1 May, 2015

 

 

Lionsgate Films, the production studio behind titles such as The Hunger Games and Divergent,has entered into a partnership with digital currency payments processor GoCoin.

 

First announced by GoCoin CEO Steve Beauregard at Inside Bitcoins New York, the deal was confirmed by Lionsgate senior vice president Peter Wilkes.

 

Wilkes suggested that Lionsgate is working to integrate digital currency payments into the company's online store, and at "several upcoming branded events".

 

-Read More-

 

 

 

"Barclays Data Officer Praises Blockchain Tech at SWIFT Forum"

CoinDesk | 27 April, 2015

 

 

Blockchain technology is "transformative", according to Usama Fayyad, chief data officer at Barclays.

Speaking at SWIFT Business Forum London, Fayyad explained that he believes bitcoin is interesting, but argued that it may not remain the most compelling use case in the future.


 

-Read More-

 


 

 

 

"Be Vigilant on Compliance, Coinbase Warns Bitcoin Startups"

  CoinDesk | May 2, 2015


 

 One of the largest players in bitcoin has warned fledging startups to remain vigilant on regulatory compliance issues.

 

Coinbase's associate counsel Sarah Hody urged entrepreneurs to follow the firm's "proactive" stance in front of a packed audience at bitcoin developer meetup in San Francisco's South of Market district.


 

Hody, who worked at several different law firms prior to joining the cryptocurrency space, noted that a number of other sectors, including food services and the automotive industry, have regulatory bodies that ensure consumer protection.

 
-Read More-

 

UK HM Treasury Paper

 

Digital currencies:

Response to the Call for Information

 

 
 
The Real Value of Bitcoin and Crypto Currency Technology - Bitcoin Properly
 
Great Video Explaining Bitcoin  


Ripple Plans To Wash Away Currency Exchange

Sydney Morning Herald | May 6, 2015
Shaun Drummond

The new Asia Pacific head of US start-up Ripple Labs, Dilip Rao, is pitching a version of Bitcoin's blockchain ledger technology to Australian banks in a push to replace the centuries old global currency settlement system with a real-time network.

Ripple is focused on using its version of blockchain to create a market that will allow anyone with idle cash sitting in multiple jurisdictions to earn a margin on it by instantly transferring cash around the world for banks and their clients. Mr Rao said the start-up is not trying to eliminate banks as a middle man, but its technology could replace the "messy and error prone" global "correspondent bank" system, which is a significant source of revenue for some banks.



New Ripple Labs Asia Pacific CEO Dilip Rao is pitching its blockchain-based technology to replace cross-border and central bank settlements.

Photo: Vince Caligiuri
Copyright � 2015  | ADCCA | All rights reserved.

Published by the Australian Digital Currency Commerce Association 
Editor: Ronald M. Tucker
Deputy Editor: Jessica McIntyre

The ADCCA Industry Newsletter reaches a regular audience of over 850+ Industry and Government Leaders, domestically and abroad. This reach includes regulators, parliamentarians, enterprise C-Level executives as well as cross-industry stakeholder participants both at the professional association and emerging FinTech business levels. To learn more about ADCCA or enquire as to Membership opportunities, please contact us via the below:

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