LONDON - PayPal Holdings Inc joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets. PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021, the…
Read more
Wirex raises £3.7m in crowdfunding campaign
Crypto payments firm Wirex has raised over £3.7 million in a crowdfunding campaign on Crowdcube, beating its initial target by 370%. The London-based firm raised £1 million in just 90 minutes and closed its crowdfunding 15 days early after securing funds from nearly 7000 investors.Founded in 2014 in an effort to open up the esoteric…
Read more
Lithuanian Fintech PayRay Throws Its Doors Open as a New Commercial Bank
PayRay, a Lithuanian fintech company, has now launched its banking operations after securing a banking license from the European Central Bank (ECB). The bank will soon start accepting deposits from Lithuanian customers (private individuals), which will be accepted in Euros for a period ranging from six months to five years. The deposits will take place…
Read more
Bank of Lithuania Reports Digital Payments Pace Accelerating Despite COVID-19
In the first half of 2020, the number of payment transactions and income of electronic money and payment institutions (EMIs/PIs) has continued to grow at a rapid pace despite the pandemic. “The trends observed in the first half of the year show that the EMI/PI sector has withstood the shock of COVID-19. On top of…
Read more