The Korean financial services commission and the Seoul metropolitan government have announced plans to invest $16 million in training digital finance experts for four years on Feb. 12. The application period to win the grant is March 4-6. Details of the new program The FSC explained that the demand for specialists in financial technology is increasing. The program aims to ensure educational opportunities for the next generation of fintech professionals. The program is going to start the second half of 2020 and will run until 2023 in the financial center in Yeouido district in the capital, Seoul. It is open …

Spanish soccer powerhouse FC Barcelona, or Barca, has teamed up with fintech platform Chiliz to create a blockchain-based token for the sports franchise. As part of the partnership with FC Barcelona, Chiliz created Barca Fan Tokens (BAR) for use on its social mobile app called Socios, according to a press release shared with Cointelegraph. “We are really proud to launch the Barca token on the Chiliz blockchain platform,” Chiliz and Socios CEO and founder Alexandre Dreyfus said, referring to Chiliz’s own Ethereum-based blockchain. “This is the ultimate goal and the best confirmation of our long term vision about fan engagement …

Forbes released its Fintech 50 list this week, which included six blockchain companies among the media outlet’s compilation of top financial technology companies. Carrying a “Blockchain and Bitcoin” category tag, Forbes listed Axoni, Chainalysis, Coinbase, Everledger, MakerDao and Ripple amongst its top 50 fintech list for 2020, released on Feb. 12. Other contenders on the list included companies such as Plaid, Opendoor and Lemonade, categorized under payments, real estate and insurance respectively. Listed alphabetically Spanning an array of categories within fintech, Forbes composed its 2020 list alphabetically. Among the six blockchain and crypto-related categories, crypto exchange powerhouse Coinbase touted the …

The United States Commodity Futures Trading Commission’s fintech lab will host office hours during New York Fintech Week. In April, the CFTC’s fintech research unit, LabCFTC, will host office hours during New York Fintech Week to engage with innovators in the field, according to a recently published announcement. LabCFTC’s objective is to promote market-enhancing fintech innovation and competition, as well as provide the CFTC with a better understanding of emerging technologies. The office hours will enable interested parties to participate in dedicated discussions and give a presentation to regulators. LabCFTC as a beacon in the emerging world of fintech The …

The former chairman of the United States Commodity Futures Trading Commission (CFTC) has some new remarks regarding his Digital Dollar initiative, speaking in Davos. On Jan. 22, Ex-CFTC chairman J. Christopher Giancarlo confirmed that the Digital Dollar project will consider the advantages of a United States’ central bank digital currency (CBDC), according to written remarks for a Davos event hosted by industry media outlet The Block. At the event, Giancarlo is scheduled to deliver his first public speech devoted to the blockchain-based Digital Dollar project, first announced last week. Digital Dollar project will develop a framework practical steps to establish …

If mainstream finance does not adopt new technologies, such as those seen in blockchain and crypto, they will fall behind, according to a few experts’ comments at the World Economic Forum (WEF) in Davos Switzerland. Answering a question on comparing this year’s event to last year’s, Monero’s former lead maintainer Riccardo Spagni noted the same presence of “old school” bank and regulatory personalities. Spagni, also known as Fluffypony, told Cointelegraph in a Jan. 21 interview: “I think by a lot of events like this one and some of the other blockchain events, we’re starting to show them that if they …

The Financial Conduct Authority (FCA) is now the United Kingdom's sole Anti-Money Laundering (AML) authority for the crypto business. After a decade of compliance under a laissez-faire approach to AML legislation, U.K.-based crypto firms now face a significantly more stringent set of rules. With the FCA thrashing U.K. crypto regulation into shape, the consequences upon start-ups, user privacy and adoption will likely be wide-reaching. In its early stages, decentralized finance (DeFi) has uncovered a bounty of possibilities within the economic sector. From borderless banking to using blockchain technology, DeFi is leading a comprehensive coup d'état against an entrenched financial industry. …

The Australian Prudential Regulation Authority (APRA) is seeking to oversee stablecoin projects like Facebook's controversial stablecoin Libra. In an official proposal to the Senate published on Jan. 20, APRA submitted a possible regulatory framework dedicated to fintech and regulatory technology (regtech) covering topics ranging from digital wallets to data protection. The proposed framework, “is intended not only to be fit for purpose for the current financial system but also be able to accommodate future developments and technological advances, such as proposals for global stablecoin eco-systems that have been the subject of significant attention in recent months.” Overall, APRA admits that …

The Libra Association — the government body of the eponymous stablecoin introduced by Facebook in late 2019 — has formed a new committee to guide the network’s technical development. According to an announcement on Jan. 16, the Libra Association has voted to establish the five-member Technical Steering Committee which comprises leading experts from various firms in the fintech and blockchain industries. The members are: Calibra core product lead George Cabrera III, Anchorage co-founder Diogo Monica, Union Square Ventures partner Nick Grossman, Bison Trails CEO and founder Joe Lallouz, and Mercy Corps director of emerging technology Ric Shreves. In overseeing the …

J. Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), plans to promote the blockchain-based United States dollar with a new think tank. Giancarlo, who earned the “Crypto Dad” moniker for advocating a “do no harm” approach to blockchain regulation, is now setting up a think tank called the Digital Dollar Foundation to promote the idea of digitizing the U.S. dollar. Giancarlo’s digital dollar is based on technology behind Bitcoin According to a Jan. 16 report by The Wall Street Journal, the ex-CFTC chairman is establishing the non-profit foundation to study prospects for converting the dollar into a …

Payments behemoth Visa acquired financial technology firm Plaid for $5.3 billion, according to a press release published on Jan. 13. Per the release, Plaid has developed a network that allows users to easily connect their financial accounts to the apps they use to manage their financial lives. The firm’s products reportedly allow for convenient sharing of financial information with thousands of apps and services by allowing users to link various accounts. The announcement states that 75% of the world’s internet-enabled consumers used a fintech application for moving funds. As such, it has “become increasingly important to facilitate consumers’ ability to …

Fintech and blockchain developer Ant Financial, an affiliate of e-commerce giant Alibaba, has been ranked the fifth most valuable private firm in China. In an inaugural rankings report by Hurun, which is best known for compiling a rich list for China, Ant Financial is the top firm in its field and fifth largest in a ranking of all firms across industries. Published on Jan. 9, the report reveals that Ant Financial has hit a market valuation of $143 billion, based on a closing price from Nov. 29, 2019. Alibaba ranked top of all private enterprises in the country, at a …