Coino, a new crypto-currency hosted by a marketing agency in Germany, has entered the payments market.
It seems Coino is well positioned to become a dominant Internet currency. The currency is available to anyone in the world and is not yet tied to any particular exchange. In terms of transaction speed, Coino offers 25 seconds block time and two confirmations, which rivals any other cryptocurrency in the world today. Complete technical specifications on the currency can be found here.
Ultimately, value is what drives an Internet currency either to the top of the pile or to the slagheap of history. Coino’s developers understand this and have made a robust investment in long-term, dedicated support. The platform claims its goal is to see Coino reach a highly competitive value on the cryptocurrency exchanges as quickly as possible.
The democratic, decentralized nature of Internet currencies has made them enormously popular in tech circles, but the general public is beginning to take an interest as well. Coino looks to ride this second wave of adoption. Those interested in tracking developments with Coino can follow the cryptocurrency on Facebook and Twitter.
There are increasing calls for the use of open banking APIs from industry groups and even the UK Treasury. It is clear that this market shift is inevitable, but while this openness will facilitate innovation and drive competition, there is uncertainty.
The European Banking Authority (EBA) has published the long-awaited draft of the Regulatory Technical Standards (RTS) covering Secure Customer Authentication (SCA) and secure communication. Tom Hay, head of payments at Icon Solutions shares his thoughts on whether they will be effective.
In another big deal for the global payments industry this week, credit card firm Visa has inked a partnership with digital payments processor PayPal.
The five fintech startups joining credit card company’s Capital One’s new fintech accelerator in Nottingham have been named, including Credit Kudos, Multisense, Pariti, Warwick Analytics and WealRo.