- \n
- Bitcoin<\/a> continues its recovery following a recent collapse. Early<\/a>, the price of bitcoin fell to USD 30,000 after Chinese authorities restricted its trade within the country. Analysts at JPMorgan<\/a> believe that instabilities in the cryptocurrency market may lead many large investors to begin to transfer their assets to gold.<\/li>\n
- HSBC has introduced the HSBC Global Wallet<\/a>, a multi-currency digital wallet for international payments that is targeted at small- and medium-sized businesses that are a part of international supply chains. Currently, its only available in Singapore, the U.K. and the U.S., although this list of countries is expected to expand over time.<\/li>\n
- In other news: a PayPal co-founder has launched Nirvana<\/a>, a new neobank; TikTok<\/a> is testing in-app purchases for European markets; eBay<\/a> will begin lending operations to small- and medium-sized businesses.<\/li>\n
- U.S. regulators are organizing an interagency group<\/a> to discuss cryptocurrency legislation. The group has already developed a common structure and base of terms for further work.<\/li>\n
- Chinese internet giant Alibaba Group posted a USD 1.1 billion quarterly loss<\/a> for the first time in seven years. The company explained that the loss is the result of a USD 2.8 billion fine for antitrust violations.<\/li>\n
- Amount<\/a>, a technology provider focused on helping financial institutions quickly implement digital transformation solutions, recently raised USD 99 million in funding. This pushes their total amount of funding raised to over USD 1 billion, earning them unicorn status.<\/li>\n
- According <\/a>to a World Bank report on migration, the COVID-19 pandemic did not result in a significant reduction in remittances last year. This is contrary to most forecasts.<\/li>\n
- Sunbit<\/a>, a fintech that provides buy now, pay later (BNPL) solutions, has earned unicorn status after its most recent round of fundraising. The fintech is now valued at USD 1.1 billion.<\/li>\n<\/ul>\n
Russia<\/strong><\/p>\n
- \n
- Russian banks are beginning<\/a> to implement a solution that will allow ATM users to withdraw funds from someone else\u2019s card. The solution works through a banking app that generates a QR code, which can then be sent to someone else to be scanned at an ATM for the funds to be released.<\/li>\n
- The Higher School of Economics has released two reports: Digital Technologies in the Russian Economy<\/a> <\/em>and Digital Transformation of Industries: Starting Conditions and Priorities<\/em><\/a>.<\/li>\n
- The Ozon marketplace intends to develop<\/a> a new fintech direction and has purchased One Bank toward this end.<\/li>\n
- Rosselkhozbank has launched a new digital product for farmers. The Farmer\u2019s Business Card<\/em><\/a> product allows farmers to make small, discounted purchases online as well as purchase fuel at a discounted price. The card can be accessed via a special app.<\/li>\n
- According to a study by the NAFI Analytical Center, Russians are three times more likely to pay for purchases using a contactless method than a non-contactless method. Interestingly, the study revealed that most Russians do so as a matter of convenience and not a matter of safety.<\/li>\n
- Sber has announced<\/a> recent innovations, including a Money-to-Paycheck service, new investment skills for virtual assistants<\/a> and a SmartSpeech<\/a> speech technology service for businesses. Sber also noted that ecosystem experiments are starting to get out of control<\/a>.<\/li>\n<\/ul>\n
Ukraine<\/strong><\/p>\n
- \n
- The National Bank of Ukraine plans to introduce the digital hryvnia<\/a> over the next four years.<\/li>\n
- Ukraine\u2019s Cabinet of Ministers has approved<\/a> a roadmap for introducing blockchain into the economy and public administration systems.<\/li>\n
- Raiffeisen Bank Aval has launched Fairo<\/a>, a mobile bank for entrepreneurs. In addition to standard financial services, Fairo provides users an ability to submit tax reports and pay taxes.<\/li>\n
- Alexander Kshutashvili, head of NeoFin, discusses<\/a> how the company has managed to create a constructor for fintech solutions.<\/li>\n
- Ukrposhta has launched a tender process<\/a> to select an appraiser who will help it acquire a bank within the next 5\u20136 months.<\/li>\n
- The Ministry of Digital Transformation has announced an online platform for small- and medium-sized businesses. The Diya.Biznes<\/a> platform is currently operating in a test mode but will eventually allow entrepreneurs to access various state services and support programs.<\/li>\n<\/ul>\n
Belarus<\/strong><\/p>\n
- \n
- The volume of non-cash payments<\/a> in Belarus in the first quarter of 2021 amounted to BYN 14.7 billion, 22.5% higher than in the first quarter of 2020.<\/li>\n
- Smart Taler 2021, a conference on fintech, blockchain and cryptocurrencies, will be held in an online format on July 24, 2021. Register here<\/a>.<\/li>\n<\/ul>\n
Kazakhstan<\/strong><\/p>\n
- \n
- Under new amendments<\/a> to the draft Law on Amendments to the Code<\/em> on Taxes and Other Mandatory Payments to the Budget<\/em>, cryptocurrency miners will have to pay taxes in Kazakhstan.<\/li>\n
- SME Banking Club has ranked<\/a> Halyk Bank first among mobile banks for businesses in Kazakhstan. Additionally<\/a>, the bank\u2019s first deputy chairman (Anton Musin) was a guest on The Power of FinTech<\/em> podcast, during which he discussed the future of banks, why financial institutions are building large ecosystems and what fintech trends are important to follow.<\/li>\n
- AIFC Fintech Hub has partnered with Uralsib Bank to launch<\/a> a competition for the best fintech solution among teams from Central Asia. Find out more here.<\/li>\n
- The National Bank of Kazakhstan intends to implement a pilot project to introduce the digital tenge<\/a> in the second half of 2021. Find out what experts think about it in this Interfax-Kazakhstan publication<\/a>.<\/li>\n<\/ul>\n
Kyrgyzstan<\/strong><\/p>\n
- \n
- FINCA Bank Kyrgyzstan has launched<\/a> a service that allows users to reserve a place in line before visiting a branch.<\/li>\n
- The United Nations Development Program (UNDP), with financial support from the government of Japan, has announced a new AI-based job search app. IshTapp<\/a>, which is available for Kyrgyz residents, resembles the dating app Tinder in that an applicant swipes right or left, depending on whether he\/she is interested a job opening.<\/li>\n<\/ul>\n
Tajikistan<\/strong><\/p>\n
- \n
- Dushanbe City and Tinkoff Bank have launched<\/a> a new money transfer service that allows users to make up to 20 transfers a day from the Russian Federation to Tajikistan.<\/li>\n<\/ul>\n
Uzbekistan<\/strong><\/p>\n
- \n
- The head of the HUMO payment system, Shukhratbek Kurbanov, discusses<\/a> the current situation in Uzbekistan\u2019s payment market as well as why cash is so popular in Uzbekistan.<\/li>\n
- The Association of Venture Capital of Uzbekistan has opened the country’s first private venture fund, Semurg Ventures<\/a>. Semurg Ventures\u2019 investment strategy fintechs, insurtechs and agrotech startups.<\/li>\n<\/ul>\n
Azerbaijan<\/strong><\/p>\n
- \n
- Mastercard plans to cover the entire territory of Azerbaijan with a non-cash payment system<\/a>.<\/li>\n
- FINCA Bank Azerbaijan has launched<\/a> a chatbot on WhatsApp. The app speeds up and simplifies the loan application process for individuals as well as informs them about other available bank products.<\/li>\n<\/ul>\n
Armenia<\/strong><\/p>\n
- \n
- Converse Bank has launched<\/a> an online lending platform for small- and medium-sized businesses that will allow business clients to receive financing for various purposes in the shortest possible time and on the most competitive terms possible.<\/li>\n<\/ul>\n
- FINCA Bank Azerbaijan has launched<\/a> a chatbot on WhatsApp. The app speeds up and simplifies the loan application process for individuals as well as informs them about other available bank products.<\/li>\n<\/ul>\n
- The Association of Venture Capital of Uzbekistan has opened the country’s first private venture fund, Semurg Ventures<\/a>. Semurg Ventures\u2019 investment strategy fintechs, insurtechs and agrotech startups.<\/li>\n<\/ul>\n
- The head of the HUMO payment system, Shukhratbek Kurbanov, discusses<\/a> the current situation in Uzbekistan\u2019s payment market as well as why cash is so popular in Uzbekistan.<\/li>\n
- The United Nations Development Program (UNDP), with financial support from the government of Japan, has announced a new AI-based job search app. IshTapp<\/a>, which is available for Kyrgyz residents, resembles the dating app Tinder in that an applicant swipes right or left, depending on whether he\/she is interested a job opening.<\/li>\n<\/ul>\n
- SME Banking Club has ranked<\/a> Halyk Bank first among mobile banks for businesses in Kazakhstan. Additionally<\/a>, the bank\u2019s first deputy chairman (Anton Musin) was a guest on The Power of FinTech<\/em> podcast, during which he discussed the future of banks, why financial institutions are building large ecosystems and what fintech trends are important to follow.<\/li>\n
- Smart Taler 2021, a conference on fintech, blockchain and cryptocurrencies, will be held in an online format on July 24, 2021. Register here<\/a>.<\/li>\n<\/ul>\n
- Ukraine\u2019s Cabinet of Ministers has approved<\/a> a roadmap for introducing blockchain into the economy and public administration systems.<\/li>\n
- The Higher School of Economics has released two reports: Digital Technologies in the Russian Economy<\/a> <\/em>and Digital Transformation of Industries: Starting Conditions and Priorities<\/em><\/a>.<\/li>\n
- HSBC has introduced the HSBC Global Wallet<\/a>, a multi-currency digital wallet for international payments that is targeted at small- and medium-sized businesses that are a part of international supply chains. Currently, its only available in Singapore, the U.K. and the U.S., although this list of countries is expected to expand over time.<\/li>\n
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