HK FinTech company Credit China FinTech invests $30 million in blockchain provider BitFury Group
Credit China FinTech will invest $30 million in BitFury shares and the setting up of the joint venture as part of the deal, according to CNBC. “We have a working prototype payment system using blockchain technologies in our research laboratory,” Phang Yew Kiat told CNBC.
Blockchain believers hold fast to a utopian vision
BitFury co-founder Valery Vavilov, along with other chief executives, are working to use blockchain to create more open, transparent systems from voting to banking. “There needs to be deep and collaborative thinking on what kind of infrastructure you need to support global financial transactions in the cloud,” R3’s David Rutter tells The Financial Times.
Trends in financial technology to watch
Christa Steele, former CEO of Mechanics Bank talked with FinXtech about the trends she’s watching in FinTech, the challenges that bank leaders face while navigating digital disruption, and why blockchain still matters to banks.