Payments & fintech

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

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

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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Ukraine tops global cryptocurrency adoption ranking

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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riddletag

Ukrainian facial recognition technology facilitates contactless biometrics and touchless payments

With the Covid-19 global pandemic still raging, there is new interest in contactless biometrics to authenticate consumers in retail, banking, travel and transportation and make easy touchless payments.   In 2017, in Lviv (Western Ukraine), Yuriy Holuzynets and Stanislav Berdnyk co-founded fintech startup Riddletag for the purpose of helping companies better automate their business processes. Their goal was …

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Ukraine to oversee crypto transactions above $1,200, sees no risk in legalization

Operations conducted by crypto companies and other entities dealing with digital assets will be examined and verified by Ukraine’s financial regulators, Minister Oksana Markarova announced during a recent press conference. All crypto-related transactions worth 30,000 hryvnias or more, the equivalent of approximately $1,200, will be subjected to government oversight, she emphasized while briefing Ukrainian media …

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Ukrainian government and parliament take new steps to support crypto industry

Earlier this month the Verkhovna Rada, Ukraine’s legislature, approved amendments for “the prevention of the legalization of proceeds from crime and the financing of terrorism and weapons of mass destruction proliferation .” Supported by a significant majority in the Rada, these amendments introduce legal terms and definitions pertaining to the crypto space. As reported by …

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Illegal cryptocurrency farm found on Ukrzaliznytsya premises

An illegal bitcoin farm had been sucking electricity from the state-owned railway monopoly Ukrzaliznytsya, draining over $40,000 worth of electricity from the company. The company’s own security department along with Ukraine’s National Police found an illegal bitcoin farm on the premises of the railway enterprise in Ternopil, according to a statement the railway company published on …

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Ukrainian TAS Group leads $3 million round for local fintech startup MyCredit

Last week TAS group, a major Ukrainian group of companies, announced it led a $3 million round of funding for online loan service MyCredit. Neither the other participants in the deal nor its financial terms were disclosed, but TAS and MyCredit underlined the “strategic” and “partnership” dimensions of the investment. MyCredit’s post-money valuation exceeds $20 …

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Paymentwall opens new R&D office in Kyiv to boost operations

Earlier this month Paymentwall, a global payment service provider with Ukrainian roots, but headquartered in San Francisco,  announced the opening of a new research and development office in Kyiv (Kiev).  The move is explained by the recent launch of new products by the company. This requires to hire and accommodate new personnel, reported local tech blog …

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New educational program aims to prepare more crypto developers in Ukraine

Aiming to address the deficit of developers in the field, several crypto platforms, the Blockchain Association of Ukraine (BAU) and the Ukrainian National IT Factory (UNIT) have teamed up to launch ‘Blockchain Hub Academy,’ an educational program on cryptocurrency technologies. The 4-month course is divided into two segments. The first part called ‘Satoshi Way’ is …

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China’s UnionPay comes to Ukraine, Japan’s JCB eyes local market

Chinese payment system UnionPay International, the world’s biggest payment system both in terms of cards issued and volume of operations, is entering the Ukrainian market, the National Bank of Ukraine (NBU) announced on Nov. 13. UnionPay International will provide services in Ukraine for issuing cash from ATMs and supporting payments for goods and services with UnionPay …

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