UTRUST

UTRUST is the world’s first cryptocurrency payments platform to implement consumer protections on a mass scale. The company is building a global PayPal–like payments platform with extensive cryptocurrency support.

UTRUST’s end goal is to provide all the benefits of fast, secure, convenient, and inexpensive cryptocurrency transactions, in tandem with the world’s first cryptocurrency payment protections, which consumers need to fully embrace blockchain technology en masse.

UTRUST has currently raised $3.5 Million through private investors and the sold out pre ICO, with the public ICO commencing on 20th September 2017.

BSP approves registration of 2 bitcoin exchange operators

Lawrence Agcaoili, reporting for The Philippine Star;

The Bangko Sentral ng Pilipinas has approved the registration of two companies to engage in the operation of bitcoin exchanges as part of efforts to regulate the fast growing but potentially risky virtual currency industry.

BSP Governor Nestor Espenilla Jr. said during the FinTech Thought Leadership Roundtable Series presented by FINTQ, the central bank has given the two companies the green light to operate bitcoin exchanges.

It’ll be interesting to know the name of those two companies.

BPI’s official statement regarding the double-posted transaction from April 27 and May 2

BPI ADVISORY (updated);

Further to our announcement this morning, we have identified an internal system error that caused some transactions occurring between April 27 and May 2 to be double-posted as of June 6.

We have identified the root cause of this error, and are temporarily suspending access to electronic channels to speed up rectification. All BPI branches will open on time this morning, and will continue to service your needs.

We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently, and that none of them will lose money from this incident.

April 27 and May 2 is a long time for a system error to go unnoticed.

The announcement was posted on BPI’s official Facebook page.

Ant Financial buys US-based money-transfer company for US$880 million

Kevin McSpadden, reporting for E27;

Ant Financial, the Jack Ma-owned fintech company, has acquired the US-based money transfer service Moneygram in a deal worth about US$880 million.

The acquisition marks a significant step into the Western market for Ant, which has never acquired a US-listed company. Ant was spun off from Alibaba ahead of the e-commerce giant’s IPO in 2014 and has grown into the most dominant fintech company in Asia.