In this photo illustration, the TransferWise app is seen displayed on an Android smartphone with a vintage turntable in the background. Guillaume Payen | SOPA Images | LightRocket | Getty Images Fintech start-up TransferWise is now valued at $5 billion following a secondary share sale, the company announced Wednesday, highlighting increased investor appetite for online payments amid the coronavirus pandemic. Founded in 2011, TransferWise has become a formidable competitor to the likes of...

More Cryptocurrency exchange Coinbase is investigating a price increase in bitcoin offshoot bitcoin cash that happened hours before it said it would launch support for the new digital currency. The price of the digital coin was seen rising sharply before Coinbase announced its support for the buying and selling of bitcoin cash on its platform. It subsequently pulled the feature after prices were seen to fluctuate wildly compared to other exchanges, and said it would likely return on...

China's clampdown on cryptocurrencies has reportedly taken a new direction – to close down local bitcoin exchanges. Initial reports from Chinese media that the government plans to close down domestic cryptocurrency exchanges have seen the virtual coin shed more than $100 since Friday. Bloomberg and the Wall Street Journal also reported Monday that that the country is planning to shut down digital currency exchanges. Bitcoin sunk to a low of $4,241 in late trading in the U.K. Friday, and...

Accounting giant EY said Wednesday that it plans to launch the first blockchain platform for marine insurance, alongside Microsoft, A.P Moller-Maersk and others. The distributed ledger will be used to capture information about shipments, risk and liability, and to help firms comply with insurance regulations. It will also ensure transparency across an interconnected network of clients, brokers, insurers and other third parties. EY explained that its decision to secure marine insurance data...

Bitcoin fell by another $300 on Tuesday after the fallout of a Chinese ban on cryptocurrency crowdfunding methods saw the price of the digital coin slump earlier this week. The virtual currency fell from $4,584 to $4,350 on Monday following the announcement of a regulatory clampdown on initial coin offerings (ICOs). Many start-ups rely on ICOs as a means to raise funds by selling off new digital tokens to the market. Total ICO investments peaked above $1.2 billion this year. Although analysts...