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With Fintech Express, it will be even easier for fintechs to work with Mastercard. The first participant is Rapyd, a B2B Fintech-as-a-Service provider.

During the Singapore Fintech Festival 2019, the biggest fintech event, Mastercard, an American multinational financial services corporation, has announced the launch of Fintech Express. The initiative will allow fintech companies to get access to a wide range of digital-first products, flexible commercial agreements, and support in global licensing. Mastercard has already welcomed the first member to participate in the program – Rapyd, the world’s largest local payments platform.

Within the partnership, Mastercard will issue cards for Rapyd’s corporate clients in Asia Pacific, while Rapid will receive a license as a Mastercard issuer in two weeks. Besides, the fin-tech-as-a-service platform will swift integration with the Mastercard network and get access to strategic counseling from Mastercard’s in-market fin-tech experts.

Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows for Mastercard, Asia Pacific, commented:

“Mastercard has been the partner of choice for hundreds of fintechs globally. With the launch of Fintech Express, a tailored program that provides fintechs with what they need most – speed, scale and performance – Mastercard is celebrating a new milestone in our fintech journey. Speed is absolutely critical in the Asia Pacific region which is a dynamic hotbed for ambitious startups that are transforming the payments landscape.”

Rapyd is a platform that makes the world’s most convenient ways to pay and be paid instantly available through a single API and SDK and helps companies create great local commerce experiences in any part of the world. In October, the company raised $100 million in funding round. Later, it received a remittance license in Singapore.

Joel Yarbrough, Rapyd’s Vice President in Asia Pacific, commented on the partnership with Mastercard in the following way:

“These innovators are looking for a next generation fintech platform to help them move faster and offer more services, knitting things together behind the scenes, so they can focus on scaling their operations in the region and globally.”

Mastercard Fintech Express is an improved addition to the Mastercard Accelerate platform that offers start-ups and new brands support and assistance for every stage of their growth and transformation, from the entry to the market to worldwide expansion. With Mastercard Fintech Express, it will be even easier for fintechs to work with Mastercard.

It’s also worth mentioning that it is far not the only news in the sphere of fintech these days. For example, Coinspeaker has already reported that Singapore’s central bank – Monetary Authority of Singapore (MAS) – established cooperation with Wall Street giant JP Morgan and Temasek. The aim of this collaboration is to create a blockchain-based prototype for cross-border multi-currency payments.

Daria Rud , 2019-11-11 10:33:17 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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