News Briefing - Crowdfunding, SME And Alternative Finance

crowd concert

1.UK – P2P

Bridging & Commercial reports:

 

“Assetz Capital has seen over £50m invested into its Innovative Finance Isa (IFISA) since it was launched in December last year.

The P2P business lender’s IFIsa now accounts for over 15% of all loans funded through the platform.

Investors have switched to the Assetz Capital Isa from cash and stocks and shares Isas, with the platform reporting over £20m of completed or in-progress transfers.

All Assetz Capital accounts can be Isa-wrapped, with target rates starting from 4.1% per annum in the quick access account.


 

2. UK – P2P

 

Orca Money on P2P v balance sheet lending.

 

“What is the first thing that comes to your mind when you think of alternative lending? Is it the technology-driven peer to peer lending platforms, or the global lending funds of Ares and Pemberton, or perhaps it’s the Wonga like payday lenders? Since the 2007/2008 financial crisis, alternative lending has risen in many forms, now covering a wide range of lending structures and purposes. The peer to peer lending market is just one piece of the jigsaw puzzle that is alternative lending.”

 

3. International – FinTech

 

Crowdfundinsider reports:

 

Copper.co is now offering a custody solution for institutions investing in digital assets. The crypto portfolio management platform says it is offering the “industry’s first serverless” co-sign custody solution. Copper management says it expands the crypto market by making transactions safer and less prone to error and risk.

Provides multi-signature custody for digital assets, along with multiple user logins and trading accounts. Re-defining how cryptocurrencies integrate with financial services.

CEO of Copper, says that finally the cryptocurrency market is viable for institutional investors. Their service removes the security risk of a single point of failure which is something that is creating friction for large investors.

“Built on the same protocols used by the National Security Agency to encrypt their communications, Copper now offers the most secure storage environment on the market,” Tokarev explained.

Users of their custody solution will require two of their three nominated key holders to approve the transaction. Offline co-signing is enabled using an encrypted copper key file. With multiple users required to complete a withdrawal, Copper Unlimited uses advanced server-less encryption technology to remove the risk associated with online sharding, private key re-configuration, and private key management.

Copper currently secures the five largest cryptocurrencies by market cap but expects to add more digital assets at a rate of four new ones per month.”

Copper.co is now offering a custody solution for institutions investing in digital assets. The crypto portfolio management platform says it is offering

 

4. International – FinTech

 

The Venezuelan government plans to issue a new paper currency called ‘the sovereign’ next Monday, August 20th, and the new currency will be pegged to that nation’s new cryptocurrency, ‘el petro’, reports Crowdfundinsider.

“The latest news comes on the heels of a story CI reported yesterday about the government of Venezuela setting up a special central bank to manage its ‘el petro’ digital currency.

According to ABC International, the ‘the sovereign’ will be used to, “to take five zeros away from the national currency, the bolivar,” the buying power of which has been profoundly reduced in the country’s atmosphere of rampant inflation, which the IMF estimates will reach a million percent this year.

Venezuala’s acute inflation, according to IMF director Alejandro Werner, “signal(s) that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000’s.”

ABC International reports that at the same time the sovereign is pegged to the cryptocurrency el petro, el petro will be used as a “mandatory” unit of account in the Venezuelan oil industry.”

The Venezuelan government plans to issue a new paper currency called ‘the sovereign’ next Monday, August 20th, and the new currency will be pegged to that

 

5. International – FinTech

 

Business Scoop on an NZ equity raise.

 

ArchiPro, an online platform that brings businesses, professionals and consumers together in the architecture, interior and construction industry has completed its first capital raise, successfully reaching its target of $2 million. ArchiPro undergoes successful $2 million capital raise to fuel further expansion.

Business Scoop provides news and views on Business and Markets from New Zealand