This week’s roundup will feature the latest news on crypto regulations, Africa’s fintech community, and open banking. Join us and Unlimit BaaS’ Managing Director, Jovi Overo, in the exploration of some of the biggest headlines of our industry.
- Brazil has authorised its central bank to regulate and supervise crypto and virtual asset service providers to ensure token projects qualify and pass all security measures from the Comissão de Valores Mobiliários. [source: Cointelegraph]
This step comes amid the rising number of CBDCs across the world, with Brazil being no exception from the expectations. With Mercado Bitcoin and other prevalent crypto brands having a presence in Brazil, the need for a greater understanding of crypto and its capabilities is imperative. It is important that both businesses and investors in the crypto space are aware of the decentralised nature and potential risks around cryptos, but the stringent regulations will bring greater security and minimise risk. – Jovi
- Visa launches a fintech accelerator for the start-up community in Africa to provide expertise, connections, technology and potential funding. [source: The Fintech Times]
The digital transformation in Africa has been phenomenal, with digital and financial inclusive growth spanning across numerous countries. As it’s become a digital hub for driving growth and opportunity, numerous start-ups, as well as mature companies, have landed in the continent to delve into opportunity. The accelerator from Visa will support bringing in new technologies, learnings and opportunities for the community which will offer employment, economic growth and literacy development. It’s an exciting advancement! – Jovi
- Nationwide approved Experian’s Open Banking solution for mortgage applicants, aiming to save 30 minutes on every application. [Source: Financial Reporter]
Financial technologies, like open banking, are not only introducing new ways of working but also simplifying processes that already exist. The open banking software in Smartr365 means that mortgage applications can be processed quickly, and also the advancements of open banking mean that risks of fraudulent applications or suspicious activity will be recognised at an early stage. Open banking will save on manual processes and save costs whilst offering a seamless and more convenient experience.. – Jovi
See you next week, back in the blog for your next weekly news roundup.