Connect with us

Fintech

1 in 5 Australians believe crypto is the secret to homeownership as faith in traditional savings dwindles

Published

on

22% of Australians believe investing in cryptocurrency is an easier way to save for a mortgage deposit than a bank account or traditional savings method, according to new research from Kraken.

In fact, 23% of those surveyed said their interest in crypto follows a concern that the value of money in traditional savings, or cash, is decreasing.

The survey shows more young Australians are becoming discouraged by the usual investment options, with 39% of Millennials saying crypto was a good alternative to buying an investment property, 31% of Gen Z and 24% of Gen X.

Of the Australians surveyed, one in five either currently or have previously owned crypto (19%), while 14% currently have a cryptocurrency portfolio.

Kraken Managing Director, Australia, Jonathon Miller said the research shows that although Australia may lag behind the US in terms of adoption, there is clearly a big market for crypto as an investment opportunity and it is a market on the rise.

“Australians still maintain some conservative attitudes toward investment. Property has been a cultural norm and high on the wishlist for most investors, but as affordability continues to be an issue, we’re seeing more young people look for other options to grow wealth,” said Miller.

“It’s these younger Australians who are changing the dynamic and with more education we expect the broader market to come around to the idea of investing in cryptocurrency. APAC is a region that is mobile-first and it makes sense that we would be a big adopter of digital assets and cryptocurrency.”

Through Kraken’s mobile app, investors who have never purchased cryptocurrency or have only just started investing, are able to easily and securely buy and sell cryptocurrency from their phones.

For the 21% of Australians planning to buy cryptocurrency in the next 12 months, and 84% who currently own crypto with a plan to buy more, Kraken allows them to expand their knowledge and make safe and informed investment choices.

While 47% of Baby Boomers said they haven’t invested yet because the asset is too volatile, for younger Australians it’s only a matter of time, with the majority of those 18-35 saying they hadn’t invested yet because they didn’t have the funds (39%) or didn’t know how (29%).

“There’s still work to be done in helping Australians learn more and discover cryptocurrency, but these survey results are very exciting for Kraken and for the future of digital assets in Australia. We’re confident that as more investors look to diversify their portfolios and seek investment opportunities outside of the traditional offerings we’ll see cryptocurrency come into its own in APAC,” said Miller.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://australianfintech.com.au/1-in-5-australians-believe-crypto-is-the-secret-to-homeownership-as-faith-in-traditional-savings-dwindles/

Blockchain

Crypto fintech Centbee selected for regulatory sandbox

Published

on

YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

Continue Reading

Blockchain

Crypto fintech Centbee selected for regulatory sandbox

Published

on

YouTube has banned ads about gambling, alcohol, politics, and prescription drugs from its masthead, the website’s most prominent advertisement slot. Axios reported the ban…

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ventureburn.com/2021/06/crypto-fintech-centbee-selected-for-regulatory-sandbox/

Continue Reading

Crowdfunding

Fintech Veteran Frank Rotman Talks Building Wealth with Investments, Real Estate, Business Ownership

Published

on

Frank Rotman, who claims to be a 27+ year Fintech veteran and the Co-founder of QED Investors, notes that small businesses are quite important to our communities.

Rotman points out that minority-owned small businesses do not have equal access to capital and the appropriate tools. He also asks whether this is solvable.

Rotman adds that we have all heard about how SMEs are considered the “backbone” of the US economy. He reveals that a quick review of the facts shows that this statement is “very much true.” At present, there are numerous registered SMEs that employ millions of people across the country, Rotman confirms.

He adds:

“While it may seem like big companies hold all the power, it’s undeniable that SMEs play a critical role in their success. Smaller firms supply critical goods and services to big companies. They’re customers of big companies. And they’re catalysts for innovation and change. Without SMEs, our daily lives wouldn’t be the same. Small Businesses are at the heart of Main Street and foundational to how we operate as a country. And it shouldn’t be overlooked that when you buy from a Small Business, an actual person does a happy dance.”

Rotman claims that the good news is that “new business formation isn’t slowing down.” It is actually speeding up, he adds while noting that numerous SMEs are launched every year. He points out that the impact of the COVID-19 outbreak during 2020/2021 may be seen and is verifiable by examining the relevant data. He adds that significantly more people are now wanting to “be their own bosses” and a lot more are also interested in owning their own business.

Rotman adds:

“@HelloAlice is tackling this problem head on. Their service helps SME owners access financial resources, source free business education, find new customers and interact with helpful fellow SME owners. Their goal is to improve the success rate of their members. And the mission is a noble one, especially with regards to the role small business ownership has on closing the gap of wealth inequality.”

Rotman further notes that out out the primary pillars of building wealth (investments, real estate and business ownership), “two require large amounts of initial capital to be put to work as a starting condition for the strategy to work” and from there, compounding “does its magic over decades.”

He adds that in contrast, business ownership is “a path to self-sufficiency and wealth fueled in large part by grit and determination.” He also acknowledges that launching a business “isn’t free, but there are many “capital light” and “capital efficient” businesses that can be assembled and started easily.”

Rotman clarifies:

“This by no means suggests that starting a business has been universally solved or that the startup world is one of equality and fairness. The opposite is true. Sourcing and procuring startup and working capital for local and minority owned businesses is a major issue.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/176686-fintech-veteran-frank-rotman-talks-building-wealth-with-investments-real-estate-business-ownership/

Continue Reading

Fintech

UOB Issues Digital Asset Offering of S$600 Million on Marketnode’s Platform

Published

on

UOB has tapped Marketnode’s digital asset issuance, depository and servicing platform to issue its latest bond offering of S$600 million, with a final orderbook of more than S$1 billion from a total of 73 accounts.

Marketnode, a joint venture between Singapore Exchange and Temasek, is an exchange-led digital asset venture focused on capital markets workflows through smart contracts, ledger and tokenisation technologies.

The platform leverages distributed ledger technology to connect various parties involved in the transaction, from issuers to investors,  and to tokenise the capital security, so that smart contracts can be created and conducted for greater efficiency.

The digital bond is run in parallel with the conventional issuance process.

The bank’s AT1 securities have been priced at a fixed coupon rate of 2.55 percent, which UOB said is the lowest for a benchmark perpetual securities for banks in Singapore.

The transaction saw a subscription rate of 1.7 times, supported by an extensive investor base comprising both quality institutional accounts and private banking investors. Ninety-two percent of them were based in Singapore while eight percent were international offshore investors.

The perpetual capital securities are expected to be rated Baa1, BBB- and BBB+ by Moody’s Investors Service, S&P Global Ratings and Fitch Ratings respectively.

UOB is the sole global coordinator and, together with Credit Suisse, HSBC and Standard Chartered, the joint lead managers and bookrunners.

Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB

Wee Ee Cheong

Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, said,

“UOB is fully behind the development of Singapore’s digital capital markets infrastructure and the smooth transition to a SORA-centred financial market.

As more global issuers and investors come on board and participate in Singapore’s digital capital markets, we will see further strengthening of Singapore’s status as the region’s financial hub.”

Featured image: Photo by Christoph Theisinger on Unsplash 

Print Friendly, PDF & Email

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://fintechnews.sg/51857/blockchain/uob-issues-digital-asset-offering-of-s600-million-on-marketnodes-platform/

Continue Reading
Aviation4 days ago

Delta Air Lines Flight Diverts To Oklahoma Over Unruly Off-Duty Flight Attendant

Esports5 days ago

Lost Ark Founders Pack: Everything You Need to Know

Aviation4 days ago

Spirit Airlines Just Made The Best Argument For Lifting LaGuardia’s Perimeter Rule

Esports2 days ago

Clash of Clans June 2021 Update patch notes

Esports4 days ago

Genshin Impact Murals: Location Guide

Blockchain3 days ago

Africa Leading Bitcoin P2P Trading Volume Growth in 2021

Esports2 days ago

Legends of Runeterra Patch 2.10.0 brings bug fixes and Pool Party cosmetics

Aviation3 days ago

Boeing 727 Set To Be Turned Into Luxury Hotel Experience

Gaming4 days ago

Forza Horizon 5 Announced, Launches November 9

Esports5 days ago

Genshin Impact Music Rock Puzzle Guide

Esports11 hours ago

World of Warcraft 9.1 Release Date: When is it?

Big Data3 days ago

In El Salvador’s bitcoin beach town, digital divide slows uptake

Blockchain2 days ago

Since It Adopted Bitcoin As Legal Tender, The World Is Looking At El Salvador

Blockchain4 days ago

Ripple price analysis: Ripple retests $0.80 support, prepares to push higher? 

Blockchain4 days ago

Binance Is Launching a Decentralized NFT Platform

HRTech2 days ago

Pre-Owned Luxury Car dealer Luxury Ride to add 80 Employees across functions to boost growth

Esports4 days ago

Jurassic World Evolution 2 Release Date: When is it?

Blockchain5 days ago

Texas Banks Can Now Provide Bitcoin Custody Services For Clients

Crowdfunding4 days ago

New York based Earned Wage Fintech Clair Secures $15M to Help Gig Economy Workers

Blockchain4 days ago

Digital turns physical: Top NFT galleries to visit in-person in 2021

Trending