Gojek partners with fintech firm Pluang to launch an investment platform
This enables consumers to invest in digital gold using the GoPay app, starting from just 0.01 gram of gold (equivalent to approximately IDR8,000 or US$0.57).
Through GoInvestasi, users can purchase digital gold in three steps — selecting the quantity, confirming the transaction and paying via GoPay.
Gold investments made through GoInvestasi are overseen by Indonesia’s Commodity Futures Trading Regulatory Agency, with the gold also guaranteed by state-owned Kliring Berjangka Indonesia, Indonesia’s futures clearinghouse.
Users also have the option to either liquidate their digital gold into cash through GoPay in real-time or withdraw the physical gold. The physical gold will be accompanied by a certificate from Aneka Tambang Tbk., a state-owned mining company, verifying that the gold has a purity level of 99.99 per cent.
Fintech platform Nium partners with Visa to issue white-label card in Australia
Nium, a global fintech platform, has officially become a Visa issuer in Australia following its membership in Visa’s Fintech Fast Track programme.
With this licence, Nium can provide end-to-end issuing, processing and on-boarding services, and can shorten the lead time for Visa card issuance to just four to six weeks.
Through this partnership, Nium will be able to conduct real-time funds transfers to both physical and virtual Visa Credit and Debit cards, for instance, deposition of payroll into Visa cards.
It will also enable secure digital payments through tokenisation for in-stores, online payments and at ATM points, as well as unlock simple payment experiences for businesses and consumers around the world through multi-currency cards with multi-pocket/wallet spend management features.
Nium’s presence in Australia through Visa is a part of the plans to extend its portfolio to clients in the country and beyond, providing end-to-end B2B and B2C issuing services globally.
Algorand Foundation, Borderless Capital launch Asia Accelerator programme in Singapore
The administrator of the Algorand blockchain protocol, the Algorand Foundation, has launched a startup accelerator, in collaboration with an VC firm Borderless Capital.
According to Brave New Coin, the accelerator aims to encourage blockchain development, empowering projects to build, grow and foster financial innovations in the Algorand ecosystem.
For each selected project, the programme offers US$15,000 upfront seed funding, with up to US$250,000 available for follow-on investment.
The inaugural programme will begin in three phases — a 12-week accelerator programme in October 2020 and finish in January 2021, taking place in Singapore.
The Algorand blockchain is claimed to solve problems in other blockchains such as striking an optimal balance between decentralisation, scale, and security.