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News on Medial
MetaMask Introduces Crypto Cash-Out to PayPal and Banks, But Fees Could Be High
Robots
·
1y ago
Medial
MetaMask, a prominent self-custodial wallet, has launched a cash-out feature enabling users to convert ETH and other cryptocurrencies into fiat currencies like USD. This move seeks to bridge the gap between digital assets and real-world usability. While enhancing user-friendliness, it's crucial to note potential fees, including gas and those imposed by cash-out providers. MetaMask aims for global adoption, partnering with Moonpay and even PayPal for withdrawals. However, fees can be significant, with around 8% transaction costs shown in a demo. Similar initiatives, like Gnosis' Visa card, aim to make crypto spending easier and are expanding internationally.
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MetaMask Expands Crypto-to-Fiat Conversion Users Can Now Withdraw Funds to Bank Accounts and PayPal
Business Bytes
·
1y ago
Medial
MetaMask Expands Crypto-to-Fiat Conversion Users Can Now Withdraw Funds to Bank Accounts and PayPal MetaMask, a leading cryptocurrency wallet and gateway to the decentralized world, has unveiled a groundbreaking feature that enables users to seamlessly convert their digital assets into fiat currency. This new capability allows users in the United States, United Kingdom, and select European regions to withdraw their crypto holdings directly to their bank accounts or PayPal, marking a significant milestone in the convergence of the crypto and traditional finance worlds.
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HSBC Sees ‘Unattractive’ Risk Reward for Goldman Sachs, Morgan Stanley
Livemint
·
8m ago
Medial
HSBC analysts have warned investors to be cautious of the recent rally in shares of Goldman Sachs and Morgan Stanley, stating that the risk-reward profile is unattractive. The analysts believe that market expectations for these banks are already high, leaving room for disappointment as investment banking fees are likely to increase but may not meet the heightened expectations. Despite downgrading the banks' ratings to hold, the analysts raise their earnings per share estimates due to anticipated higher investment banking and asset management fees and increased buybacks.
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CRYPFI LAUNCHES CRYPTO DERIVATIVES PLATFORM IN UAE - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
CrypFi, a centralised cryptocurrency exchange, has launched its crypto derivatives platform in the Middle East. The platform aims to offer options and futures trading with high speeds, tight spreads, and low fees, all in an easy-to-use interface. CrypFi claims to be the first INR-based crypto derivatives platform in the region and prioritizes regulatory compliance and customer satisfaction. The company plans to increase its market presence through digital marketing, partnerships, and educational initiatives. It generates revenue through crypto deposits, withdrawals, and per-trade fees.
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Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses
TechCrunch
·
1y ago
Medial
The rise of fintechs, fueled by cheap money and interchange fees, faces challenges as central banks raise interest rates. Many fintechs rely heavily on interchange fees as a source of revenue, but these fees are capped, while interest rates are not. This creates a dilemma as borrowing costs for fintechs can spiral out of control in times of rising interest rates. To survive, fintechs need to diversify their revenue streams, focus on building great software, and reevaluate their customer incentives.
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Trump's crypto team takes shape but questions remain over who will drive policy
Economic Times
·
8m ago
Medial
US President-elect Donald Trump has revealed his crypto policy by announcing former PayPal executive David Sacks as White House A.I. & Crypto Czar, while nominating attorney Paul Atkins to head the Securities and Exchange Commission (SEC). The appointments have generated mixed responses, with some arguing that the creation of a crypto czar raises questions about who will drive policy. Sacks, a known bitcoin investor, is expected to bring change quickly, but clashes with the SEC's processes may occur. Meanwhile, Atkins is seen as a veteran in Washington policy circles who supports crypto innovation but hasn't taken a clear stance on the classification of crypto tokens. The crypto industry anticipates more constructive regulation under the new administration.
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SEBI investigating six investment banks over handling of small IPOs
VCCircle
·
10m ago
Medial
India's Securities and Exchange Board of India (SEBI) is currently investigating six domestic investment banks over their handling of small business IPOs. The investigations are focused on the fees charged, as it has been found that these banks have charged companies fees equivalent to 15% of funds raised through IPOs, which is much higher than the standard practice of 1-3% in India. SEBI's preliminary findings suggest that these high fees are being charged to ensure oversubscription of the offerings. The regulator is also looking to curb coordinated activity between banks and investors who break rules to place huge bids.
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RBI Asks Banks To Keep Track Of Domestic Money Transfers To Limit Frauds
Inc42
·
1y ago
Medial
The Reserve Bank of India (RBI) has instructed banks and payment system operators to monitor domestic money transactions made by customers. To ensure compliance, remitter banks must keep a record of basic details, such as the name and address of beneficiaries for cash pay-out services. Additionally, every transaction conducted by a remitter must be validated by an Additional Factor of Authentication (AFA).
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PayPal reveals new AI tools to make sure your business always gets paid
Techradar
·
1y ago
Medial
PayPal has announced several new features aimed at improving payment processes and ensuring timely payments. The upgrades include a redesigned checkout experience, AI-powered tools to reduce friction, and a guest checkout feature called Fastlane that eliminates the need for accounts and passwords. Additionally, Smart Receipts will incorporate AI to provide personalized content and recommendations. PayPal aims to halve the time customers spend at checkout and boost loyalty among online retailers. The updates will be rolled out to US customers in 2024, but availability in other countries remains unclear.
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Asian American VC firm CEO Nisha Desai sues PayPal for racial bias
Inshorts
·
7m ago
Medial
Nisha Desai, the CEO and Founder of venture capital firm Andav Capital, has sued PayPal in the US over racial bias against Asian Americans. Desai claims PayPal prefers Black and Hispanic applicants over Asian Americans in its $530-million program to support minority-led businesses. "To PayPal...Asian Americans might be minorities, but they're the wrong kind of minority," the suit said.
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Epic Games CEO fears Google may still be able to stifle Play Store competitors
Business Insider
·
1y ago
Medial
Fortnite owner Epic Games has won an antitrust case against Google, but CEO Tim Sweeney is concerned that Google will not have to eliminate its high fees. The lawsuit accused Google of preventing access to competing app stores and paying developers to discourage competition. A San Francisco federal court will decide in January how Google will have to change its business practices, which could potentially cost the company billions. Sweeney fears that Google may offer solutions that do not actually promote competition and still collect high fees. Google plans to appeal the verdict.
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