As the value of Bitcoin (BTC), the flagship cryptocurrency, surpasses its earlier all-time excessive (and lately breaking previous the $24,000 mark), a brand new report reveals that “attitudes” towards the digital asset are “enhancing” with almost one in 5 or 20% of Australians now “proudly owning some” digital forex.

As talked about in an replace shared with Crowdfund Insider, carried out yearly, the Impartial Reserve Cryptocurrency Index (IRCI) is a nationwide survey providing a benchmark for “the attention, belief and confidence” that Australians have in digital currencies. Bitcoin or BTC stays “one of the best identified” cryptocurrency, with 88.8% of the nation’s residents confirming that they’re (a minimum of) “conscious of it.”

As famous within the replace:

“In keeping with the IRCI, 78.2% of the survey respondents who did personal crypto in 2020 stated they had been breaking even or higher, with solely 21.8% reporting a loss. The 45 – 54 age bracket had been the most definitely to have made cash, with greater than half within the black. This was a powerful enchancment on final 12 months, the place solely 35% of their age group elevated their wealth by way of crypto.” 

Adrian Przelozny, CEO of Impartial Reserve, the Australian digital asset alternate that initiated the inaugural IRCI in 2019, stated that they’re seeing considerably extra conventional and institutional buyers “look to Bitcoin as a development technique.” Przelozny added that “it marries with the attitudinal shift they’ve seen throughout the Australian inhabitants as now nearly two in 5 individuals view bitcoin as a retailer of worth or an funding automobile.”

As crypto strikes into the mainstream, Australian residents might be “extra inclined to belief it,” based on the replace. In 2020, solely 17.3% of survey respondents stated they’ve thought-about Bitcoin to be a “rip-off,” which is down significantly from 21.3% final 12 months. These numbers appear to replicate a “broader acceptance of the expertise by most people.” It’s additionally indicative of “shifting perceptions,” with 19.1% Australians noting that they now “view Bitcoin as a retailer of worth, up from 16.7% in 2019.”

As confirmed within the replace:

“Of those that had supposed to purchase crypto in 2020 however didn’t, greater than a 3rd stated their buying choices had been instantly impacted because of the financial fallout of the COVID-19 disaster.”

Przelozny claims that if it weren’t for the “sobering” results of the Coronavirus disaster, and the downturn affecting dealer and investor urge for food to get into the market, then “it’s straightforward to think about how the value of Bitcoin may have soared even greater this 12 months.” He additionally talked about that the IRCI 2020 reveals that significantly extra Australian residents are “gaining confidence in crypto.”

As famous within the replace:

“Past the dominant crypto, twice as many males than ladies knew of different cash reminiscent of Ethereum (ETH), [XRP], Bitcoin Money (BCH), EOS and Litecoin (LTC).” 

Millennials or youthful buyers had been nearly twice as probably than the overall inhabitants to be “knowledgeable about newer cryptos,” like Chainlink (LINK), a digital token that has turn into more and more in style due to this 12 months’s development towards decentralized finance (DeFi).

The whole 2020 IRCI report will be accessed right here.

China Banking and Insurance coverage Regulatory Fee Points Rules In direction of Web Insurance coverage

On December 14^th, the China Banking and Insurance coverage Regulatory Fee (CBIRC) issued the “Web Insurance coverage Enterprise Regulatory Measures.” Key contents of the Measures embody:

1. clarifying the character of Web insurance coverage enterprise and relevant rules
2. stipulating necessities for Web insurance coverage enterprise operations, strengthening the rules of licensed operation, defining licensed establishments as self-operated on-line platforms, and clarifying the prohibited conduct of non-licensed establishments;
3. standardizing insurance coverage advertising and marketing and publicity;
4. stipulating “particular working rules” for on-line insurance coverage corporations, insurance coverage corporations, insurance coverage middleman companies, and on-line enterprises that have interaction in insurance coverage operations

From September 28^th to October 28^th, the CBIRC launched a draft model of the Measures for public session. (Supply: CBIRC)

The Folks’s Financial institution of China Says No to “Money Discrimination”

Over the previous few years, on-line funds (e.g., Alipay and WeChat Pay) has gained nice reputation in China. Nevertheless, as society steadily has moved on-line, the convivence introduced by know-how innovation has change into a “digitization hole” for a lot of senior residents and different from underdeveloped areas who don’t have any or restricted entry to the Web and associated services.

On December 15^th, the Folks’s Financial institution of China (PBC) issued an announcement, calling for wider acceptance of money cost in financial actions, particularly in giant and medium-sized wholesale and retail enterprise, catering and lodging, primary public providers (medical therapy, water, electrical energy and fuel charges).

” The innovation of consumption and cost strategies ought to assist construct a easy cost surroundings, shield individuals’s livelihood, and improve the sense of public happiness,” as stated within the assertion.

RMB money is a primary cost means and PBC vowed to research and punish those that refuse to just accept or undertake discriminatory measures in the direction of money cost. (Supply: PBC)

China Securities Regulatory Fee Official: China Ought to Contemplate Whether or not to Impose Digital Providers Tax on Tech Firms

On December 16^th, Qian Yao, science and know-how supervision bureau chief of China Securities Regulatory Fee (CSRC), talked about digital providers tax at a summit held in Beijing.

Based on Yao, some third-party platforms maintain a considerable amount of person knowledge which could possibly be used for the evaluation of customers’ conduct and associated adjustment of market technique. In different phrases, the info is like valuable mineral mines. Nevertheless, as the true creators of the platform worth, customers have not likely shared actual advantages from the revenues generated from their knowledge. Because the representatives of the general public, the federal government ought to pursue in-depth analysis about whether or not to introduce digital providers tax on the platform-like enterprises. (Supply: bkeconomy)

Fintech Service Supplier Leapstack Secures B+ Spherical Financing

Fintech service supplier Leapstack is reported to have secured a USD $10 million B+ spherical of financing. The funding was led by Huazhi Capital and took part by GF Qianhe.

Established in 2016, Leapstack is an AI-focused Insurtech, aiming to supply a risk-control resolution for insurers and insurance coverage brokers.

At current, Leapstack has established cooperation with a gaggle of home insurance coverage magnates together with China Life, PICC, China Taiping and China Continent Insurance coverage. Prior to now three years, Leapstack has gained a rising recognition throughout the trade. It has been introduced because the affiliate member of LIMBRA, TOP 50 China Insurtechs in InsurStar50 and TOP 10 in International Fintech Enterprise Competitions held by Institute for Fintech Analysis, Tsinghua College in 2019. (Supply: lieyun.com)

The above is a weekly synopsis of the largest tales on Fintech in China offered by WeiyangX, a part of Tsinghua College, in partnership with Crowdfund Insider.

WeiyangX is probably the most influential web site specializing in Fintech in China. The location covers the most recent information, trade knowledge evaluation, enterprise practices, and in-depth Fintech instances in Fintech. WeiyangX is incubated by Fintech Lab. Based by Tsinghua College’s Folks’s Financial institution of China (PBC) Faculty of Finance in 2012, the Fintech Lab is the primary and main analysis entity devoted to main finest practices, selling interdisciplinary innovation, and inspiring entrepreneurship within the subject of fintech via scientific analysis and progressive mission incubation.

Gemini Belief Firm, LLC (Gemini), a cryptocurrency trade and custodian, confirmed on December 17, 2020 that this month marked the highly-anticipated launch of Ethereum 2.Zero Section 0. Though the whole implementation of Ethereum 2.0 (Eth2) can be rolled out in numerous phases, Gemini acknowledged that it intends to assist Eth2 buying and selling and staking “as quickly as potential.”

The Gemini workforce notes that Ethereum is an revolutionary blockchain that has “pushed decentralized purposes, together with decentralized finance (DeFi), ahead.”

They added:

“We stay up for persevering with to assist the Ethereum neighborhood and new developments as Eth2 transitions and reaches its subsequent milestone — in order that we are able to present all of our clients with the power to entry and earn from the most recent developments in crypto.”

On December 10, 2020, the Gemini workforce introduced that that they had welcomed David Abner as the corporate’s new World Head of Enterprise Growth.

The Gemini workforce acknowledged:

“David will spearhead the growth of Gemini’s institutional enterprise and bolster our fame as a trusted and safe cryptocurrency trade and custodian. He’ll handle a workforce targeted on cultivating Gemini’s relationships with main institutional companions and high-net-worth people on a world scale.”

David beforehand launched Dabner Capital Companions, a boutique advisory and funding firm specializing in exchange-traded-funds (ETFs) and digital property. David additionally spent over 10 years working at WisdomTree Asset Administration. He served as EVP of WisdomTree and CEO of WisdomTree Europe, the place he was chargeable for a “important” growth in property beneath administration because it turned one in all largest European ETF suppliers. Earlier than working at WisdomTree, David was MD and Head of ETFs at BNP Paribas and Bear Stearns.

Earlier this month, Gemini additionally introduced the launch of the Gemini Alternative Fund, “a donor-advised fund that can assist Bitcoin Core improvement by means of grants, fellowships, and donations.” The Gemini Alternative Fund intends to assist Bitcoin Core builders who plan to reinforce “the usability, safety, and resilience of the Bitcoin Community.”

The Gemini Alternative Fund will present $50,000 in BTC funding to the Human Rights Basis’s Bitcoin Growth Fund which helps Bitcoin builders “working to reinforce privateness on the Bitcoin Community and be certain that bitcoin is a instrument for monetary freedom.”

The Fund may even present $150,000 in BTC funding to John Newbery’s Brink, a London-headquartered, non-profit fellowship program that intends to assist “exemplary” Bitcoin builders. Fellows plans to work cooperatively with each other and “be mentored by John, previously a Chaincode Labs developer, and Mike Schmidt, a Blockstream alumnus.”

(Observe: for extra particulars on this announcement, test right here.)

Citi (NYSE:C) is growing a brand new market of third-party Fintech platforms and companies. The financial institution has reportedly signed information entry agreements to customer-approved accounts with eight startups and information aggregators.

Citi’s shoppers can be supplied a safe technique to share their account particulars with numerous monetary apps and companies through the use of API token-based know-how.

Mike Naggar, Chief Digital Officer, Citi’s US Client Financial institution, famous that at Citi, they imagine in giving their shoppers extra decisions, better comfort and extra management over their monetary info. Naggar defined that via using APIs, these agreements ought to assist with providing a seamless and safe information sharing expertise for Citi shoppers who determine to shared their monetary particulars with third-party apps and repair suppliers.

The primary firms which were lined by the monetary data-sharing settlement embody BillGO, eMoney, Envestnet Yodlee, Expensify, Finicity, Intuit, MX, and Xero.

Citi was notably among the many first banking establishments to introduce a globally accessible API Developer Portal again in 2016. The initiative was launched in order that it could develop into simpler for Fintech companies, builders and client manufacturers to work collectively. At current, the API catalogue incorporates greater than 120 APIs and 1000’s of customers in 16 completely different markets.

Citi has been supporting a variety of technology-focused initiatives in order that it could additional develop its ecosystem of digital platforms and companies.

As reported in November 2020, Citi has invested in UK-headquartered low code utility developer Dextcloud. The funding is notably the second such deal finalized by the US-based financial institution up to now three months.

Dextcloud provides companies a low code framework that helps them with bringing collectively current utility elements that could be unfold throughout an organization’s back-end, inner infrastructure.

Citi’s latest funding into Dextcloud’s operations seems to be a part of the financial institution’s general technique that includes backing low code know-how companies. Citi could also be attempting to combine these rising applied sciences and new methods to develop software program into its current IT infrastructure and associated processes.

In October 2020, the US financial institution acquired a stake in Genesis World Expertise as a way to improve routine workflow processes throughout a number of completely different enterprise strains.

In September 2020, Citi additionally invested in US primarily based SaaS platform Capitolis. In August 2020, Citi invested in Volante Applied sciences to speed up the Fintech agency’s Cloud enlargement technique.

MassChallenge, an 11-year-old non-profit, no-equity accelerator program, has added 30 new Fintech and 30 Healthtech startups to its 2021 program. Each teams might be launched at a digital MassChallenge Verticals Opening Nights occasion on January 13, 2021.

5 of this 12 months’s MassChallenge Fintechs are primarily based in Massachusetts. 5 of this system’s Healthtech firms are additionally working out of Massachusetts. Launched in Boston, the MassChallenge now provides applications in Mexico, Israel, and varied different cities throughout the USA.

The managing administrators of each the Fintech and Healthtech applications said that the candidates this 12 months have been very aggressive and numerous. For the Healthtech group, the 30 initiatives have been chosen from over 380 candidates throughout greater than 35 completely different international locations — which suggests there was lower than an 8% acceptance charge. (Be aware: for the checklist of Healthtech corporations accepted, test right here.)

MassChallenger MD Fintech, Devon Sherman, said:

”We’re excited by the vary of options and views this 12 months’s cohort brings. In our expertise, this variety of backgrounds and concepts is what drives true innovation.”

Jason Guenther, Head of Funding & Operations Applied sciences at Putnam Investments, remarked:

“This 12 months‘s MassChallenge program was instrumental in serving to us discover firms with whom to companion in fixing necessary enterprise points. Our partnership with MassChallenge has accelerated our digital journey and enabled us to assume in another way about leverage know-how to enhance enterprise outcomes.”

Listed here are the Fintechs which might be a part of the MassChallenge accelerator:

MassChallenge Fintech 2021 cohort:

Accern (New York) – Accern accelerates AI workflows for enterprises with a no-code improvement platform.

And Monetary (New Hampshire) – And Monetary helps people rework scholar debt into retirement belongings.

Beekin (New York) – Beekin is an asset administration platform for business actual property buyers, powered by huge knowledge and machine studying.

Bellwethr (Kansas) – Bellwethr helps companies maximize every of their buyer’s lifetime values with predictive and prescriptive analytics.

Bodeswell (Massachusetts) – BodesWell companions with the biggest monetary providers firms to maneuver folks towards their monetary targets.

Compliance.ai (California) – Compliance.ai is a modernized regulatory change administration resolution.

eCredable (Georgia) – eCredable helps customers and small enterprise homeowners construct stronger credit score profiles to entry higher monetary services and products.

EmpowerYu (California) – EmPowerYu is tackling the eldercare disaster by giving medically weak folks and their caregivers steady danger evaluation from dwelling.

Farther Finance (California) -A household workplace was for billionaires. Farther Funds replaces legacy tech and archaic processes to tug that have ahead.

Finaeo (Ontario) – Finaeo is streamlining insurance coverage distribution by connecting insurance coverage carriers, advisors, and shoppers by means of an built-in expertise.

Flourish Financial savings (California) – Flourish gives monetary establishments with a tailor-made engagement platform to drive deposits and deeper relationships.

Gig Wage (Texas) – Monetary infrastructure for the way forward for work. Gig Wage helps firms and platforms pay unbiased employees, aka gig employees & freelancers.

Goalsetter (New York) – Goalsetter is the neatest cash app for the entire household – from cradle to commencement, together with mother and father, too.

gravityAI (New York) – gravityAI is a platform for Enterprise enterprise groups to discover, check, and intergrade AI algorithms with no need to know code.

Habu (Massachusetts) – Habu is the main Knowledge Clear Room software, enabling secure knowledge sharing between firms with privateness and safety at its core.

HomeZada (California) – HomeZada is a private finance/fintech platform for customers to handle their largest monetary asset and largest expense, their dwelling.

Knoema Company (New York) – Knoema is a knowledge know-how platform that helps make world, different, subscription and inside knowledge discoverable and helpful.

Manetu (New Jersey) – Manetu’s Shopper Privateness Administration platform provides seamless, dynamic and clever finish to finish administration of shopper consent and knowledge entry.

Monit (Massachusetts) – Monit is a predictive cashflow and monetary optimization platform designed for enterprise homeowners as an clever, always-on advisor.

myGini (California) – Magic in your playing cards. Rewards and purchasing provides to make spending and saving cash simpler. White labeled on your model.

Optalitix (London) – Optalitix provides an progressive AI and know-how software program platform providing merchandise to quickly allow monetary providers firms to make use of AI.

Owlin (Amsterdam) – Owlin is a information analytics device that helps finance professionals monitor their portfolio proactively, repeatedly, and in real-time.

Qoins Applied sciences (Georgia) – Qoins is a monetary wellness app that helps customers repay their debt quicker by combining monetary training and automation.

Retail MarketPoint (Rhode Island) – Each retail actual property transaction within the U.S. – each property sale, lease, mortgage, or funding – could be measured by a Retail MarketPoint BrandScore™.

Retirable (New York)– Retirable helps pre-retirees plan for a greater future with free entry to skilled retirement steerage and planning providers.

Rialto Markets (New York) – Rialto democratizes and expands non-public markets for each issuers and buyers.

TCARE (Missouri) – TCARE reduces the danger of Medicaid & LTC insurance coverage claims by way of an evidence-based household caregiver assist program.

WEVO (Massachusetts) – WEVO is the one device that pinpoints why guests aren’t changing and generates suggestions to enhance conversion, earlier than going stay.

Workscope (London)  – Workscope makes use of knowledge analytics & enterprise intelligence to grasp, govern and handle danger for spreadsheet pushed operations.

Worthright (Massachusetts) – Worthright is a FinTech firm that takes the anomaly out of planning and paying for long-term care.