Payments & fintech

Ukrainian officials buy cryptocurrency worth almost $7 million

Ukrainian officials bought around $7 million in Bitcoins and other cryptocurrencies in 2017, spending more on them than on any other type of asset, according to the Ukrainian investigative organization BIHUS.info, which studied Ukrainian officials’ electronic declarations of assets for last year. Odesa City Council deputy Dmytro Fisinchuk, obtained 7,700 Bitcoins in August, paying Hr 58 million, or …

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bNesis secures €400,000 from Polish investors “to become the first Ukrainian-Polish fintech unicorn”

Earlier this month, two Polish investors — a group of venture capital funds SpeedUp and angel venture capital firm bValue — invested €400,000 in bNesis, a startup founded by a Ukrainian team. The news was reported by bNesis’ CEO Dmitriy Norenko on his Facebook page earlier this month. “The whole team will work hard to become the …

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New report highlights latest global e-commerce and e-payment trends

The Paypers, an international industry resource, has just released the 8th edition of its “Online Payments and Ecommerce Market Guide,” addressing the most important trends in the global market. In today’s e-commerce and payment market, both merchants and PSPs need more balance between security and convenience for consumers, as well as implementation of omnichannel payments and …

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Ukrainian parliament prepares bill to regulate cryptocurrencies

Ukraine’s parliamentary committee on financial policy and banking has started developing a bill that would regulate cryptocurrency turnover, the committee’s head Sergei Rybalka announced on his Facebook account. The Deputy Head of Ukraine’s National Bank Oleg Churiy had recently stated that the regulator does not consider bitcoin and other cryptocurrencies a currency.

US-Ukrainian startup raises $5.3 million to automate SMB back-office finance operations

Last week YayPay, a San Francisco-based fintech startup with Ukrainian roots, announced the completion of a $5.3 million round of funding. The round was led by QED Investors along with co-investors Birchmere and Fifth Third Capital, the direct equity investment subsidiary of Fifth Third Bancorp, with support from 500 Fintech Fund, Aspect Ventures, Gaingels, Techstars, 408 Ventures …

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Mastercard launches incubation program for fintech startups in Ukraine

Mastercard has teamed up with 1991 Open Data Incubator, Ukraine’s first incubator for Open Data projects launched in early 2016, and National Bank of Ukraine (the central bank, or NBU) to launch a free incubation program for fintech startups. The program kicks off in October and will last till January 2018. Dubbed ‘Fintech Master,’ the …

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Local and international players to discuss blockchain technology in Kyiv (October 12)

On October 12, the Ukrainian capital will host the fourth edition of the international Blockchain & Bitcoin Conference Kiev, a leading industry event. Some 1,000 attendees from Ukraine and neighboring countries, as well as from Europe and the USA, are expected. The conference will bring together local and international experts, developers, investors and blockchain startup founders.

Police find illegal Bitcoin farm at Ukrainian state institute

Ukraine’s National Police have arrested several suspects who were illegally producing bitcoins at a recreation center of a Ukrainian state institute, according to newly released court documents. Police found that 200 computers had been set up in an unused swimming pool at the Paton Electric Welding Institute’s recreation center to generate bitcoins, the world’s most …

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Ukrainian entrepreneurs to deploy 150 Bitcoin ATMs to bypass the banking system

Ukraine is soon to have 150 new ATMs for both buying and selling cryptocurrencies, with around 30 of the machines in place by the end of August, The Kiyv Post has learned from Mike Chobanyan, head of the Bitcoin agency in Ukraine. The devices will allow both selling and buying hryvnias, the national currency, and a …

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Fintech startup born in Ukraine and raised in Singapore closes series A round

Fintech startup Turnkey Lender has raised an undisclosed amount from  Palo Alto-based Vertex Ventures, reports TechinAsia. Turnkey Lender gives financial services providers a cloud-based solution for managing the loans that they give to their clients and customers. It uses machine learning technology to analyze and assess loan applicants. Launched in Ukraine by Elena Ionenko and co-founder Dmitry Voronenko back in …

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Contactless payments gain momentum in Ukraine’s public transport

As part of its global strategy to extend its reach and develop mobile ticketing services, Mastercard has just made available a new contactless payment service in the subway of Kyiv, the Ukrainian capital. The new technology, dubbed “MetroPass,” transforms bank cards into subway travel cards with pre-paid billing plans for a limited or unlimited number of …

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