The European Commission has set out a framework for a European Digital Identity to be available to all those EU citizens wanting it by September 2022. Under the new regulations, “public authorities or private entities in the EU will be able to offer digital wallets which link their national digital identities with proof of other personal attributes (e.g. driving licence, diplomas, bank account),” Finextra reports.

The Commission states that the European Digital Identity will:

  • be available to any EU citizen, resident and business,
  • be widely useable as a way to either identify users or to prove certain personal attributed, for…

Looking back at May in the cryptocurrency market is a little painful, to say the least. We witnessed a dramatic fall in prices after months of optimism as values skyrocketed. Indeed, the decline on19th May 2021 decline could be likened to the Black Thursday crash in March 2020.

Glassnode Insights has published a report on May’s activities and examines what really happened. According to the study, “The worst of the sell-off on 19 May printed the largest daily candle in Bitcoin history with an intra-day price range of $11,506. Bitcoin’s price fell a total of 47.3% since 9th May.” As…


Whilst neobanks and challenger banks have brought us some revolutionary innovations, some fintechs in the sector have created some rather unusual offerings, and we had a look at some of them.

Poland-based financial software firm Comarch launched Myra, an in-car investment assistant for wealthy investors. The AI-based assistant would inform you about your portfolio performance while you drive, allowing you to make buy and sell decisions whilst on the move. As one person commented on the ‘Robo Advisor’ for your car, “Perhaps this wouldn’t have been such a good idea during the 2020 stock market crash.”

Another one concerns biometric…


A UK Finance analysis of Authorised Push Payment (APP) scams indicates that 70% of them originated on an online platform. As we know, the Covid-19 pandemic has driven many more consumers to shop online, and fraudsters have not been slow in taking advantage of this.

According to Finextra, “the banking and finance industry saw a jump in online-enabled push payment or bank transfer fraud with increases in investment (32 per cent), romance/dating (38 per cent) and purchase scams (7 per cent). Furthermore, between 96 and 98 percent in each of the categories started online.

It has also been noted that…


Bitcoin continues to receive the most attention out of all the cryptocurrencies, despite the recent rise of several altcoins that threaten to outshine it. You can buy a Tesla with bitcoin (BTC), Visa has announced it is supporting BTC trading through custodian banks, and PayPal’s offer of crypto to its members has seen a string take up of its service, as has Square’s Cash App.

Avivah Litan, a Gartner analyst, remarks, “These companies are offering bank cards that allow users to spend crypto balances and some even offer cash-back or crypto-back awards. …


Silvergate Bank is a small Californian entity that has existed for over 30 years. Since 2013, when the bank noticed its customers’ interest in cryptocurrencies, it decided to try and gain the major exchanges, such as Coinbase, as its customers and provide them with banking services, as well as any institution that wanted to trade the digital currencies. So Silvergate created the Silvergate Exchange Network, or SEN, to enable these clients to trade Bitcoin and other forms of crypto 24/7.

How Silvergate works

Institutions that want to trade crypto open an account with Silvergate. When they trade cryptocurrency on Coinbase…


Interesting news for fintechs in the crypto banking sector, as Paxos becomes the third crypto-native company to be granted a federal trust charter through the U.S. Office of the Comptroller of the Currency (OCC).

The announcement made by the national bank regulator on Friday 23rd April, said that Paxos now had a preliminary charter. This would allow the firm to bring its new Paxos National Trust entity online as a federally regulated entity offering custody services, stablecoin management, payment, exchange and other services. Paxos is a stablecoin issuer.

This makes Paxos the third crypto entity to receive a bank charter…


Goldman Sachs Growth Equity has just invested £50 million in UK challenger bank Starling. This is additional to Starling’s £272 million Series D funding round announced in March 2021, and it now has a valuation of in excess of £1.1 billion. The total raised in its Series D funding round is £322 million.

Starling currently has over two million current accounts and 350,000 business accounts. Furthermore, its deposit base has increased from approximately £1 billion just over a year ago, to more than £6 billion.

Anne Boden, founder and CEO of Starling Bank, says: “Securing the support of another global…


Revolut, the UK-based digital bank, has been offering cryptocurency trading services since 2017. Naturally, it started with Bitcoin (BTC) because it is the best known, and it added Ethereum (ETH) and Litecoin (LTC) just a few months later. This weekend it announced it is adding another 11 cryptocurrencies to its existing list for UK and EU customers to trade.

In the bank’s blog published on 8th April, it started by saying that 2021 would be ‘Revolut’s year of crypto’, or as it says, “A whole year to bring you new features, new tokens, and a few other surprises along the…


At the end of March, PayPal announced it would allow its users in the USA to pay for online purchases with cryptocurrency. The global payments giant told Reuters: “We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants.”

According to Marc Hochstein for Coindesk, ‘transitional’ is a good word to describe the situation, “especially for anyone using crypto with PayPal.” Since Autumn 2020, PayPal has allowed its US customers…

Creditum.io

Creditum is the mobile application integrating regular cash with Crypto, Holding, Buying, Exchanging and Spending

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