The latest news from the world of Alternative Finance and FinTech
In the news this week
Grabbing the headlines this week was the news that the Government has given £21m to a technology programme that has previously supported the likes of Zopa and Funding Circle. The funding will bring together Tech City UK and Tech North to form one national organisation called Tech Nation. Elsewhere, PayPal has launched a P2P funding platform that allows users to create fundraising pages where their contracts can contribute money to a shared item or event.
Government unveils financial package to support tech
The Government has given a £21m boost to a technology programme that has supported firms such as Zopa and Funding Circle as part of a range of measures to boost the tech sector. (P2P Finance News).
PayPal launches P2P funding platform
PayPal has launched Money Pools, a service that allows its users to create fundraising pages where their contacts can contribute money for a shared item or event, like a group gift or trip, according... (Business Insider)
FX: Cryptocurrency exchanges expand offerings as concerns remain
Fees and regulatory uncertainty remain a concern for traders as cryptocurrency exchanges continue to broaden the range of fiat currencies they support. Data from the Cambridge Centre for Alternative Finance’s 2017 Global Cryptocurrency Benchmarking Study indicate that almost three quarters (72%) of large cryptocurrency exchanges now provide trading support for two or more cryptocurrencies. (Euromoney)
Peer-to-peer lending: is it too late to profit?
Peer-to-peer (P2P) lending has grown dramatically since the financial crisis. In 2005 when Zopa, the first lending "platform" was launched, loans totalled just £1.5m. Yet growth has slowed this year, according to 4thWay, the P2P analyst, and the industry has suffered a flurry of negative headlines. (The Telegraph)
SBL Network Ltd, the new financial technology company created to provide transaction and information services to the global capital markets industry, is to launch the industry's first peer-to-peer securities lending platform. (FTSE Global Markets)
Lendable hits £100m lending landmark
Lendable has announced that it has hit the £100m cumulative lending milestone in less than four years since launch. (P2P Finance News)
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