Bitcoin is growing from strengh to strengh in light of encouraging news from Washington lawmakers and recent growing popularity in China. As a resut the digital currency has smashed though the USD1000 mark on Mt.Gox.
The sharp rise in price comes less than two months after Bitcoin’s value plummeted to USD109 as a result of the FBI’s Silk Road coup. Founder of the deep-web online market place Ross Williams was arrested in Ulbricht. Nevertheless, the Silk Road raid has eventually led to bitcoin’s value rising.
Consequently, the virtual currency has been given a cautious thumbs up by various US government agencies at a Senate hearing this month. Bitcoin’s price responded to the news by jumping from less than USD500 to nearly USD750.
Over in Asia China is relaxing its regulatory environment as it further integrates into the global economy and this is encouraging rapid bitcoin uptake.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.