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Crypto.com, a global cryptocurrency exchange, and BENEFIT, the leading financial technology (fintech) provider in Bahrain, have entered into a dialogue to strengthen the Bahraini fintech ecosystem, as disclosed to Finbold on Tuesday , October 15.   The two companies signed a Memorandum of Understanding (MOU) at Bahrain’s Fintech Forward event on October 3, 2024, setting the stage for a potential future partnership.  Strengthening Bahrain’s fintech ecosystem BENEFIT brings its extensive experience as the largest financial transaction network in the country, while Crypto.com leverages its global reputation as a leading crypto trading platform.  Picks for you Recession alert: ‘Black Swan’ author warns market more fragile than before 2008 10 mins ago ...

There are “traps” lying in wait for innovators at the vanguard of fintech and quantum computing, according to researchers. Quantum computing technologies are slowly beginning to trickle out of the laboratory setting and into commercial industries. While it remains to be seen when mainstream adoption will occur, a number of companies are currently engaged in experiments and trials with paying clients to develop quantum computing solutions.  According to a pair of researchers from the University of Cambridge and Bandung Institute of Technology, respectively, this represents a critical period wherein the world still has the opportunity to prepare itself for what they’re deeming “the quantum revolution.” In a recently published commentary in the Nature journal, researchers Chander Velu and Fathiro Putra describe the ‘productivity paradox’ and explain how the mainstream adoption of quantum computing could slash economic growth for a decade or more. Per their commentary: “The digital re...

Crypto’s value increases with more users, creating a positive feedback loop due to the network effect. The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive outcomes for each user. The network effect is a powerful driver of growth and adoption for many technologies and platforms, including social media, messaging apps and marketplaces. The network effect and cryptocurrencies The network effect is also a central concept in the world of cryptocurrency. In general, it means that a cryptocurrency’s value rises as more people use it. This is because a larger user base results in higher liquidity and trading volume, which increases acceptance and utilization. For instance, the enormous and expanding user base of the Bitcoin network creates a powerful network effect that has increased its market acceptability, liquidit...

GammaRey said it has nearly $800 million in consumer assets. According to an announcement on Jan.3, Blockchain Fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia.  As stipulated by the terms, GoLogiq will issue $320 million in common stock to acquire 100% of GammaRey's outstanding shares. The transaction is anticipated to be completed within the next few weeks, subject to conditions. As told by the two parties, the merger aims to "focus on the high-growth market of wealth management for Generation Z and Millennials." Regarding the transaction, Brent Suen, chairman of GoLogiq, commented: "Through this highly synergistic merger, we will have achieved our goal for GoLogiq to become a comprehensive fintech platform for underserved businesses and consumers that is generating strong revenue growth and cash flow....