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Australia Crypto News Education

Australia’s Swinburne Uni Set to Officially Educate Students on Cryptocurrency

Melbourne’s Swinburne University of Technology will be uniting Web3 and education by partnering with two Australian fintech firms that will help students attain valuable exposure to the cryptocurrency and fintech business worlds.

Swinburne University of Technology Gallery: Images, Photos, and Videos

https://collegedunia.com/australia/college/608-swinburne-university-of-technology-melbourne/gallery
Swinburne University to offer a fintech Masters course.

Vital ‘Hands-On’ Experience

Swinburne University will partner with Banxa, a payment service provider that features a fiat-to-crypto platform, and Judo Bank, a fintech loan provider. With Banxa invested in its work within the crypto and blockchain space, and Judo Bank being one of Australia’s very few fintech unicorns, students are guaranteed to get vital hands-on experience as part of their Master of Financial Technology (fintech) degree.

The course director is Dr Dimitrios Salampasis, a 2021 Blockchain Educator of the Year awardee who professes a strong belief in the initiative, stating that students will be “exposed to real-life examples and cases across the spectrum of financial services”.

https://fintech.global/globalregtechsummit/speaker/dr-dimitrios-salampasis/

The whole vision behind this degree is to bring industry in to ensure relevance on the things we teach and to be able to bring these real-life insights for leadership in the classroom. We can ensure that the students get exposed to whatever the latest developments are in the space, because the general fintech space is moving so quickly.

Dimitrios Salampasis, director, Swinburne Master of Fintech

The partnership with Swinburne will allow both fintech firms to host lectures, co-create content, and provide relevant case studies. Students will also receive access to each company’s networks for their learning.

Another Melbourne University Focusing on Crypto

Swinburne isn’t the first Aussie uni to focus on cryptocurrency. Last October, the Royal Melbourne Institute of Technology (RMIT) University called on the federal government to reform the rules around crypto capital gains tax.

RMIT has also launched a ‘green cryptocurrency’ lab. Co-founded with the CloudTech Group, the lab’s focus is on reducing the carbon footprint of crypto.

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Australia CBDCs Crypto News Investing Regulation Trading

Australia and Singapore Create New FinTech Bridge to Grow Digital Finance

The Monetary Authority of Singapore (MAS) and the Australian Treasury have come together to sign the Australia-Singapore FinTech Bridge Agreement, which an MAS media release describes as a measure to strengthen cooperation between both countries’ FinTech ecosystems:

Building a FinTech Bridge

The agreement will see two industry regulators facilitating trade and investment in their respective sectors. These regulators will also develop ties among industry groups, policy officials and other regulators, with further plans to develop FinTech companies in each other’s markets to create new opportunities and minimise entry barriers.

https://www.lawyersweekly.com.au/biglaw/24799-investment-groups-in-singapore-and-australia-acquire-figtree-grove-shopping-centre
MAS and the Australian Treasury have flagged a FinTech agreement.

The Bridge Agreement is likely to explore joint innovation projects in other emerging areas including blockchain, sustainable finance, data portability, and cross-border data connectivity. However, the first step for the partnership is to develop a framework for bilateral collaboration and joint projects.

Australian CBDC Partnerships

The agreement comes less than a month after the central banks of Australia, Malaysia, South Africa, Singapore, and the Bank for International settlements (BIS) announced plans to explore multi-CBDC platforms.

On March 25, BIS released a report announcing the results of two multi-CBDC platforms it had been working on, finding that while these platforms were technically viable, they faced governance, coordination, and jurisdictional challenges. Opportunities are available, although more exploration into the application of these platforms is required.

To learn more about CBDCs, Crypto News Australia has put together a guide on CBDCs and stablecoins.

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Australia Crypto News

Australia Records Highest Number of new Crypto Fintechs in 2020

It’s worth mentioning that the past year (i.e., 2020, to be precise) is the biggest year for the cryptocurrency industry in adoption, developments, and other aspects. This, in fact, concedes with the growing number of new companies entering the crypto and blockchain space in different countries, especially Australia.

A new report from KPMG, one of the “big four” auditing companies showed that Australia’s crypto and blockchain fintech increased significantly in the just-concluded year. This shows how much the Aussie crypto industry is growing. Already, the country is rated as one of the blockchain-friendly nations.

Aussie Records More Active Fintech 

At first, the auditing company noted in the “KPMG Fintech Landscape 2020” report on Monday that more than 733 fintech from diverse industries is presently active in Australia. Following this record, the number of active fintech in the country is up by 16.5 percent compared to the previous 629 recorded last year. In the Lending industry, the number of companies increased from 77 in 2019 to 103 in 2020, accounting for more than a 30 percent increase on a year-over-year count.

In comparison to the 2019 and 2020 record, other industries in Australia increased or decreased as follows: Neobank (5 to 10 or 100%), Regtech (48 to 47 or -2.10%), Middle & Back Office (65 to 67 or 3.10%), Payments (143 to 151 or 5.60%), Wealthtech (78 tp 79 or 1.28%), Insurtech 35 to 59 or 68.60%), Data and Analytics (37 to 36 or -2.70%), according to the report. 

Crypto-related Fintech in Australia Grew by 153%

As per KPMG, the crypto and blockchain industry in Australia had the largest percentage growth in new fintech from 2019 to 2020. Respectively, the number of new companies in the industry increased from 32 to 81, accounting for about 153 percent growth. This corresponds to the general support and interest in digital currencies over the past year, including the underlying technology, blockchain.

“Despite the impacts of COVID-19 on the economy, increased digitization across financial services and new customer behaviors have created new opportunities for innovation. […] The overall impressive net growth in the number of fintech illustrates both the robust market dynamics and strong support for the fintech sector in Australia,” said the National Fintech Lead at KPMG Australia, Daniel Teper.