Payments & fintech - Ukraine Digital News

Ukrainian startup Finmap nabs $1.2 million to help SMBs manage their cashflow

January 24, 2022 January 24, 2022

Last week Ukrainian startup Finmap announced the completion of $1.2 million round of funding, involving local and foreign investors. Launched in 2018, this startup has developed a cash flow management service — “simple and convenient for modern businesses, with accessible functionality and a user-friendly interface.” The solution “synchronizes with user accounts via API, allowing business owners …

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Ukrainian entrepreneurs prepare to launch neobanks in 8 countries

January 20, 2022 January 20, 2022

Fintech Farm, a UK-based fintech startup launched last year by Ukrainians Dmytro Dubilet, Alexander Vytiaz and Nick Bezkrovnyy, has raised $7.4 million to launch neobanks in eight countries during the next two years. As reported by AIN.UA, Fintech Farm’s neobanks aim to attract large customer audiences with user-friendly mobile apps and accessible credit products. In Azerbaijan, where it launched in November 2021 …

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Ukrainian crypto regtech startup inks $3.5 million “strategic M&A partnership” with Swiss company

November 12, 2021 November 16, 2021

Earlier this month Ukrainian startup Global Ledger announced a “strategic M&A partnership” with Swiss fintech Promethiem AG. Founded in 2018 by Alex Fisun, Andrey Lazorenko and German Stogniiev, Global Legder is a blockchain forensic startup that allows banks, fintech companies and crypto startups to follow obligatory AML/CTF compliance rules for crypto assets. It “disrupts money laundering and cybercrime,” allowing banks …

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Ukrainian Parliament passes law to legalize cryptocurrency

September 8, 2021 October 12, 2021

Update Oct. 5, 2021: President Volodymyr Zelensky vetoed the bill and sent it back to parliament for changes. A draft law legalizing and regulating cryptocurrency and other virtual assets like tokens in Ukraine has passed the parliament in the second reading on Sept. 8. A total of 276 Ukrainian lawmakers voted for the bill. Cryptocurrencies have been …

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Report: Ukraine and Eastern Europe plagued by crypto scams

September 3, 2021 November 28, 2021

Earlier this week Chainalyis published the key findings of their 2021 Geography of Cryptocurrency report. According to this research, Eastern Europe is severely affected by illicit cryptocurrency-related activity. In relative terms, the region is second after Africa in terms of exposure — but its overall crypto economy is much larger than that of Africa. Ukraine accounted for “most of …

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Kazakh fintech giant to acquire Ukraine’s online payment service Portmone

July 28, 2021 August 5, 2021

Kazakhstan’s largest financial technology firm Kaspi.kz has signed a purchase agreement with Ukraine-based online payment service Portmone, according to financial statements Kaspi.kz published on July 26. If Ukraine’s Antimonopoly Committee and the National Bank approve the acquisition, Kaspi Pay, a subsidiary of Kaspi.kz, will buy 100% of shares of Portmone Group. Kaspi.kz expects to finalize the deal in …

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Ukraine unveils roadmap to integrate cryptocurrencies by 2024

July 26, 2021 July 26, 2021

As a country where cryptocurrencies have enjoyed a growing popularity, Ukraine now also has a strategy to develop its virtual asset market within the next three years. The plan has been presented by officials from the Ministry of Digital Transformation, other government institutions and representatives of the private sector, Forklog reported. The roadmap envisages various regulatory, …

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Illegal crypto mining or legitimate computer gaming research: Tech company suffers $1 million in losses after secret service raid

July 20, 2021 July 21, 2021

It appears that one of the largest “crypto mining farms” that Ukraine’s Security Service claims to have ever exposed wasn’t mining cryptocurrency at all. On July 8, the Security Service (SBU) seized over 5,000 Sony PlayStation consoles and graphics cards in a warehouse adjacent to the facilities of Vinnytsiaoblenergo, an energy distributor in Vinnytsia, a city of almost 400,000 people …

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Zerion secures $8.2 million to make decentralized finance accessible to all

July 14, 2021 July 15, 2021

Last week Zerion, a Californian decentralized finance (DeFi) startup with Russian and Ukrainian founders,announcedthe completion of a $8.2 million round. Led by Mosaic Ventures, the deal also involved Placeholder, Lightspeed, Blockchain.com Ventures and organizations — as well as a dozen of individual investors from the crypto community. Zerion touts its investing app as “the simplest …

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Backed by 60 investors, this Ukrainian-founded startup wants to conquer the US banking industry

March 15, 2021 March 16, 2021

In November 2020 Upswot, an online banking solution provider founded by four Ukrainian entrepreneurs, brilliantly completed a Seed round of funding in the USA. Several institutional investors from this country, together with a plethora of business angels, brought $4.3 million to the startup, just 22 months after its inception. The deal was announced earlier this month by Upswot …

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Dynamo Kyiv to launch its own cryptocurrency

January 8, 2021 January 17, 2021

Ukrainian football club Dynamo Kyiv is ready to launch its own cryptocurrency to increase revenue and attract more fans, according to US blockchain company Moonwalk, which is helping Dynamo with the project. The club will give fans digital money — the so-called “tokens” — as a reward. To earn tokens, fans can play games where they have …

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Ukraine tops global cryptocurrency adoption ranking

September 10, 2020 September 13, 2020

Ukraine is leading an international country ranking for cryptocurrency adoption, coming ahead of Russia, China, South Africa, Nigeria, Kenya, and the US. The 2020 Global Crypto Adoption Index, compiled by blockchain data analytics firm Chainalysis, offers a review of 154 countries. This crypto adoption index is made up of four metrics, calculated by “estimating total …

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