Fintech News Archives

EV project built on the Cardano (ADA) network

Groundbreaking Cardano-powered electric vehicle project to launch in Sri Lanka

January 20, 2023 1 min read

A manufacturer of electric vehicles (EVs) has announced the debut of its EV project built on the Cardano (ADA) network, set to launch in Sri Lanka. The Sri Lanka deployment of eTukTuk, the first-ever automotive project created on Cardano, was announced at the World Economic Forum (WEF) taking place in Davos, Switzerland. The eTukTuk project aims to address the infrastructure and cost issues that have previously prevented the launch of

Chinese scientists claim to have broken encryption with quantum computers

January 6, 2023 1 min read

Chinese researchers have claimed that they have used quantum computers to break the standard RSA algorithm, which is used for encryption by many industries, including banking, mobile phones, and data storage. The researchers published a “scientific paper” last month stating that they had used their algorithm to factor a number with 48 bits on a quantum computer with ten qubits, but had not yet tried to scale it up to

The central bank of Spain is conducting trials of digital central bank currencies (CBDCs) for wholesale purposes

December 8, 2022 1 min read

The Bank of Spain (BDE) has announced a new experimental program to assess the viability of implementing wholesale Central Bank Digital Currencies (CDBCs) in an effort to better meet the “needs and demands of an increasingly digital society.” The BDE is looking to collaborate with financial and technological institutions to launch the pilot program. The program will concentrate on three main areas: simulating the transfer of funds, testing the liquidation

Paymob will focus on serving the country’s growing number of SMEs and microbusinesses

Paymob Embarks on Next Phase of Expansion by Announcing the U.A.E. as its Regional Hub

November 3, 2022 3 mins read

Dubai, United Arab Emirates – 02 November 2022 – Paymob, the leading omnichannel payments facilitator in the MENAP region, today embarked on the next phase of its expansion plans by announcing the U.A.E. as its regional hub. This step marks an important milestone in Paymob’s global growth plans, fueled by recent Series B funding led by PayPal Ventures. Paymob plans to make a sizeable investment in the U.A.E. market over

Inflation in the United States is currently 8.2%, a tenth of a percent higher than anticipated but lower than last month's 8.3%, according to newly released economic data.

U.S. economic figures published show inflation is at 8.2%

October 13, 2022 1 min read

Inflation in the United States is currently 8.2%, a tenth of a percent higher than anticipated but lower than last month’s 8.3%, according to newly released economic data. The Federal Reserve’s future policy, will be informed by the key consumer report, including interest rates, which reveals that inflation is slowing. However, it is reported to be more slowly than anticipated. This could lead to more interest rate increases from the

Expanding business expense card services to SMEs in the UAE and Bahrain

XPENCE – THE FINANCIAL MANAGEMENT PLATFORM EMPOWERING MENAP SMES- LAUNCHES ITS EXPENSE MANAGEMENT SOLUTION IN THE UAE

October 12, 2022 4 mins read

Expanding business expense card services to SMEs in the UAE and Bahrain Rapid regional expansion follows high demand for business banking services from SMEs Abu Dhabi – 12 October 2022: Xpence-the MENAP region’s first financial management platform with embedded business banking solutions for SMEs, announces the launch of its expense management solution in the UAE – the second of five strategic markets it plans to launch in over the next

His Excellency Omar Sultan Al Olama stated that the UAE and Dubai have long consolidated its status as the international hub to set-up and attract unicorn and leading digital companies from across the globe.

Omar Al Olama: Expand North Star a strategic catalyst for the digital economy reflecting GITEX GLOBAL impact on the tech industry

October 11, 2022 5 mins read

Expand North Star hosted by Dubai Chamber of Digital Economy to launch in May 2023 Dubai, UAE, 11 October 2022: His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy stated that the UAE and Dubai have long consolidated its status as the international hub to set-up and attract unicorn and leading digital companies

e& enterprise announces the successful 100% acquisition of Smartworld

October 11, 2022 5 mins read

Smartworld now rebranded to e& enterprise iot and ai ABU DHABI, UAE. 11 October 2022: e& enterprise, part of e& (formerly known as Etisalat Group), announced it has completed its acquisition of Smartworld, one of the UAE’s leading technology solutions providers and systems integrators. The acquisition marks a major milestone for e& enterprise as it progresses into the enterprise digital space and enables organisations to maximise their digital potential. Smartworld