The Superintendency of Institutions of the Banking Sector of Venezuela (Sudeban) issued a circular through which it announced that the requirements for natural persons to open a bank account in bolivars will be made more flexible.

With respect to accounts in foreign currency, particularly in dollars, the current requirements remain unchanged.

Regarding the opening of accounts of natural persons in bolivars, the national currency, the requirements will be more flexible to “offer new opportunities, guaranteeing equality for clients, users in the banking process (…)”.

In this sense, “the variables that modify the risk rating in terms of prevention of money laundering, financing of terrorism and the proliferation of weapons of mass destruction” have been considered, according to the statement.

The organization indicated that to open a checking or savings account for natural persons level 1 it will be necessary: easy readable laminated identity card of the applicant, current or expired; address of the owner; if you are a foreigner, a legible passport.

In these, the amount of 700 times the official exchange rate of the highest value currency published by the Central Bank of Venezuela (BCV) can be mobilized monthly.

In other types of accounts with these same characteristics but level 2, users will have the possibility of monthly mobilizing “amounts greater than the amount of 700 times the official exchange rate of the highest value currency published by the BCV.”

The requirements that the country’s financial entities must request are: easy readable laminated identity card of the applicant, current or expired; address of the owner; copy of the holder’s legible and current Single Registry of Tax Information (RIF); if you are a foreigner, a legible passport; Income Certification (attestation) when dealing with people of free economic activity; proof of employment, when dealing with people under labor dependence.

To open bank accounts of any type, it will be essential to hold an interview with the applicant by the banking entities, which may be carried out in person or by other means, such as video call, video conference, certified by Sudeban.

M.Pino

Source: elimpulso

(Reference image source: archive)

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La entrada Sudeban facilitates opening of bank accounts to natural persons apareció primero en Bitfinance.

Taro is the new update of the Lightning Network, designed by CTO Olaoluwa Osuntokun, which allows all its participants to issue and transfer assets on the Bitcoin blockchain, including stablecoins globally, at a very low cost and Almost instantaneous Lightning way, without exposure to bitcoin volatility.

As you may recall, the Lightning Network is an autonomous network that facilitates faster transactions than the traditional bitcoin network. Such “transactions occur outside the main bitcoin blockchain, which reduces the energy and time spent processing transactions, then they are recorded on the main bitcoin blockchain,” meaning customers can send and receive BTC on the go anywhere in the world with minimal fees.”

Elizabeth Stark, the CEO of Lightning Labs, explained that Taro aims to offer developers “the flexibility to move stablecoins from the Bitcoin network to the Lightning Network while maintaining the privacy and security of the Bitcoin network.”

Taro will compete with commercial banking

The new Taro protocol is based on an address format called bech32. The security mechanism “is based on embedded consensus.” All financial movements are confirmed on the bitcoin blockchain before being transferred to the Taro network.

The protocol supports different and multiple types of assets, making it easy for users to perform cross-chain atomic swaps, ruling out the need for centralized exchanges. And all major wallets will be supported.

With this new automation, Taro turns bitcoin and the Lightning Network into competitors of SWIFT and commercial banking, estimating that emerging markets will be favored since access to the global economy and financial tools are limited for this sector.

M. Rodríguez

Source: es.beincrypto.com

La entrada Lightning Network will allow the issuance and transfer of cryptocurrencies apareció primero en Bitfinance.

The fintech ID Finance has launched its Plazo neobank in Spain, which integrates transactional solutions with flexible credit and payment services into an app and plans to progressively incorporate more financial solutions.

Term combines a commission-free Mastercard debit card with different alternatives in deferment of payments and credit lines offered through ID Finance Spain, S.A.U., another company of the ID Finance group. In a few months, it already has more than 30,000 users.

“The flexibility to decide how and in what terms to return credit products is key to ensure that customers are always covered and achieve financial peace of mind. Added to this are the many benefits of using the debit-free Mastercard debit card, such as ‘cashbacks’ for purchases made with it and discounts in many shops”, the entity highlighted in a statement.

New markets for ID Finance

With the launch of Plazo, the fintech seeks to respond to the demand for flexible solutions to defer payments and access small lines of credit that, as they see it, “many Spaniards do not see satisfactorily covered at present.”

In this context, ID Finance has detected in southern Europe and Latin America a market opportunity valued at 400,000 million euros, with almost 500 million people who could benefit from Term financing solutions.

After the launch of Term in Spain, the next destination for the neobank will be Mexico, a country where the fintech has been operating for more than four years through other brands. The forecast is to launch Plazo in Mexico in 2022.

ID Finance co-founder Alexander Dunaev has highlighted the fintech’s “solid experience in solutions and credit management“, which since 2015 has processed 9 million credit applications internationally.

“All this acquired expertise leads us to go one step further and promote a digital platform that offers a wide range of financial services designed to meet the daily needs of millions of people. Our goal is to provide maximum financial peace of mind. This is only possible thanks to our technological ‘know-how’, which naturally leads us towards the consolidation of a disruptive neobank that integrates savings, payment and credit solutions”.

For his part, the CEO of Term, Alessandro Ceschel, has advanced that the intention of the neobank is to progressively incorporate more financial solutions, such as installment payment services, ‘Buy Now and Pay Later’ (BNPL) or payroll advances and savings solutions, among others.

Source: dpa

La entrada Fintech ID Finance launches in Spain its neobank Plazo apareció primero en Bitfinance.