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Theres a gap in the financial services market when it comes to integrating crypto into the mainstream financial system. FinXP is a European fintech company that is working to close this gap and help boost crypto adoption. It is a trusted partner for crypto companies requiring fiat banking and payment solutions; solutions that have now become notoriously limited in the sector.

While there is distrust around crypto in the mainstream financial industry, crypto use and adoption continue to grow. The global market for cryptocurrency was worth $4.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030.

The average daily trading volume for crypto sits at around $50 billion. In 2020 there were over 120 million financial transactions made with Bitcoin, the largest and most valuable crypto.

By 2027, it is predicted that crypto will have over 993 million users globally. This will bring user penetration from its current rate of 8.8% to approximately 12.5% worldwide. However, there is a significant barrier that is hurting the retail adoption of crypto. That is the difficulty that many have in finding an onramp to convert easily between crypto and fiat currency.

Traditional banking institutions have been skeptical about crypto adoption and transacting with crypto exchanges. The problem has grown more acute in the short term, as major players in the cryptocurrency banking industry, such as Signature Bank and Silvergate Bank, have pulled out of the sector.

In recent months there have also been moves made by regulators in an attempt to slow down transactions between crypto exchanges and banks. In 2020, 63% of financial institutions still described crypto as a risk rather than an opportunity.

Allowing users to deposit and withdraw fiat funds through crypto exchanges is key to onboarding the growing base of crypto users. This gap in the fintech market has created a space for forward-thinking alternatives to traditional banking.Why Exchanges Are Turning To Closed-Loop Payments

One solution that seems to be gaining traction in the fintech space is closed-loop payments. A closed-loop payment system is where both the end-user and the merchant share a common payments ecosystem.

If both a crypto exchange and its users hold accounts with the same banking partner, then payments between them would be fast, approval would be almost guaranteed, and cross-border payments wouldnt be an issue.

User accounts could also be linked to debit cards enabling individuals to more easily spend or withdraw their funds, thus adding to the utility of the account.

Closed-loop payment systems are seeing increasing popularity, with almost two-thirds of fintech and payment firms saying they will launch a closed-loop payment product by the end of 2023. A reason for their popularity is their high transaction approval rate and their ability to simplify and increase the speed of cross-border transactions.

FinXP is a leading provider of closed-loop payments for crypto exchanges. As an award-winning payments and banking solutions provider, FinXP stands out by not just providing banking solutions to the crypto industry, but they also offer several payment processing solutions.

The company works with crypto exchanges and crypto wallet providers to provide specialized custom payment solutions. It believes that many crypto investors are willing to open an IBAN account specifically to facilitate trading and investing in crypto. Its confident that its solutions can help boost crypto adoption and increase customer loyalty for its clients.

Visit FinXPs website to learn more about the company, or stay up to date with the industrys news and subscribe to FinXPs newsletter.

Read prior coverage by Benzinga on FinXP here.

Image used under license from FinXP from stock.adobe.com.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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Sally Kirkland, famous for her Oscar-nominated roles in The Sting and Anna, dies aged 84

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Sally Kirkland, famous for her Oscar-nominated roles in The Sting and Anna, dies aged 84

Sally Kirkland, a former model and Oscar nominated actress known for her roles in films such as Anna, The Sting and JFK has died aged 84.

Her representative, Michael Greene, said Kirkland died on Tuesday morning at a Palm Springs hospice.

Kirkland had been unwell and struggling to cover medical bills after she fractured six bones last year and developed two life-threatening infections. She had also been diagnosed with dementia.

A GoFundMePage that was set up by her friends to help pay for her ongoing treatment had raised over £45,000 ($60,000).

Michael Douglas, left, and Sally Kirkland appear with their best actor Golden Globes for Wall Street and Anna. Pic: AP
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Michael Douglas, left, and Sally Kirkland appear with their best actor Golden Globes for Wall Street and Anna. Pic: AP

Her biggest role was in the 1987 film Anna, as a fading Czech movie star remaking her life in the United States and mentoring a younger actor.

Kirkland won a Golden Globe and earned an Oscar nomination alongside Cher in Moonstruck, Glenn Close in Fatal Attraction, Holly Hunter in Broadcast News and Meryl Streep in Ironweed.

Born in New York City, Kirkland was encouraged to start modelling at age five by her mother, who was a fashion editor at Vogue and Life magazines. Kirkland went on to graduate from the American Academy of Dramatic Arts in 1961.

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An early breakout for the star was appearing in Andy Warhol’s 13 Most Beautiful Women in 1964.

Sally Kirkland in 2015. Pic: Reuters
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Sally Kirkland in 2015. Pic: Reuters

Some of her earliest roles were playing Shakespeare parts, including Helena in A Midsummer Night’s Dream and Miranda in an off-Broadway production of The Tempest.

She once told the Los Angeles Times: “I don’t think any actor can really call him or herself an actor unless he or she puts in time with Shakespeare.”

Kirkland was also infamous for her nude scenes, often disrobing in films and for social causes. In particular, Kirkland volunteered and advocated for people with AIDS, the homeless and prisoners.

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Author Dame Jilly Cooper died after fall at home, inquest finds

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Author Dame Jilly Cooper died after fall at home, inquest finds

Dame Jilly Cooper died from a head injury after falling at her home in Gloucestershire, an inquest has found.

Katy Skerrett, senior coroner for Gloucestershire, said the 88-year-old author “fell, perhaps down some stairs, sustaining a significant head injury”.

Though the fall was unwitnessed, forensic evidence in the area surrounding the stairs suggested that it was where the fall occurred.

South Western Ambulance Service were called at 5.35pm on 4 October and arrived at Dame Jilly’s home at 5.56pm, they told the inquiry in a statement.

Dame Jilly was initially alert and speaking with the crew on arrival. She did not recall the exact details of the fall, with only a “vague recollection of falling down”, but she spoke of having a severe headache.

She was transferred to Gloucestershire Royal Hospital, where an urgent CT scan found she had sustained a skull fracture, determined likely to be a terminal event.

“The medical opinion was that this head injury was unfortunately catastrophic,” said Ms Skerrett. “She was made comfortable, her condition sadly thereafter deteriorated, and she passed away in the emergency department with family”.

Dame Jilly’s long-standing GP told the inquest that she had fallen twice previously, in 2018 and in September 2024.

She died in hospital at 8.30am on 5 October. Her death was found to be accidental, with Ms Skerrett saying “there were no suspicious circumstances surrounding her fall”.

Ms Skerrett extended the “sincere condolences” of the coroner’s office to Dame Jilly’s family.

In a statement after her death, her children Emily Tarrant and Felix Cooper paid tribute to their mum, saying that “her unexpected death has come as a complete shock”.

“We are so proud of everything she achieved in her life and can’t begin to imagine life without her infectious smile and laughter all around us,” they added.

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The author’s many fans included former prime minister Rishi Sunak, who said her books offered “escapism”. She was a long-standing friend of Queen Camilla.

One of Dame Jilly’s most-loved characters – the showjumping womaniser Rupert Campbell-Black – was partly based on the Queen’s ex-husband Andrew Parker Bowles.

He was recently portrayed by actor Alex Hassell in the 2024 Disney+ adaptation of her novel Rivals.

Aidan Turner, who played the character Declan O'Hara in Rivals, with Dame Jilly Cooper
Pic: PA
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Aidan Turner, who played the character Declan O’Hara in Rivals, with Dame Jilly Cooper
Pic: PA

In a statement issued by Buckingham Palace after Dame Jilly’s death, Camilla said: “I join my husband, the King, in sending our thoughts and sympathies to all her family. And may her hereafter be filled with impossibly handsome men and devoted dogs.”

A new edition of Dame Jilly’s book, How To Survive Christmas, which was first published in 1986, will be released on 13 November.

Her funeral will be held in private, in line with her wishes, but a public service of thanksgiving will be held at Southwark Cathedral at a later date, her agent has said.

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‘Devious, scheming and manipulative’ NHS manager jailed for 28 years after grooming girls on Snapchat

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'Devious, scheming and manipulative' NHS manager jailed for 28 years after grooming girls on Snapchat

A senior NHS manager, described by a judge as “devious, scheming and manipulative”, has been jailed for 28 years for raping and sexually assaulting girls he groomed on Snapchat.

Paul Lipscombe, 51, from Rothley in Leicestershire, admitted 34 offences against six girls – aged between 12 and 15 – between September 2023 and April 2024 after targeting them via the social media app.

Leicester Crown Court heard that police became aware of his offending after a 15-year-old girl, who was reported missing, told officers that she had been raped.

Prosecutor Frida Hussain KC told Judge Keith Raynor on Monday that Lipscombe was initially arrested on suspicion of kidnapping the missing girl when officers pulled over his car in Birstall, near Leicester, in April 2024.

Lipscombe has been jailed for 28 years. Pic: Leicestershire Police
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Lipscombe has been jailed for 28 years. Pic: Leicestershire Police

Ms Hussain told the court the girl went missing from her home late at night and was picked up by Lipscombe nearby, before he took her to a hotel. Police later found the child at a rented address.

“He accused other people of serious crimes simply in order to mask his own crimes,” Ms Hussain added.

Follow-up searches at the hotel, his car and home uncovered evidence that the youngster had been sexually assaulted. Police recovered items including soft toys, restraints, vodka, his phone and another mobile which had been wiped.

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Devious, scheming and manipulative

Passing sentence on Tuesday, Judge Raynor told Lipscombe he was “intelligent, confident, resourceful and well-organised” and the victims had been “truly vulnerable”.

“The evidence shows you to have been devious, scheming and manipulative. You were bold in your offending and you took very high risks. The sexual abuse of young girls was an obsession in life for you,” he said.

Leicester Crown Court heard that when Lipscombe initially contacted the girls, he told them he was in his late 20s or early 30s. Five of the six girls had met with him and been raped or sexually assaulted.

Lipscombe is pictured in a Snapchat video. Pic: Leicestershire Police
Image:
Lipscombe is pictured in a Snapchat video. Pic: Leicestershire Police


A significant number of indecent images of children were discovered on his devices and online storage accounts. He had also set up a website where people could buy illegal videos of child abuse created through AI technology.

The court was told Lipscombe had been targeting girls using several Snapchat accounts, including two fake names, Dom Woodmore and George.

Lipscombe set up multiple profiles on Snapchat to groom girls. Pic: Leicestershire Police
Image:
Lipscombe set up multiple profiles on Snapchat to groom girls. Pic: Leicestershire Police

In February, Paul Lipscombe pleaded guilty to 34 offences, including two counts of rape of a child under 13; 21 counts of sexual activity with a child; three counts of sexual assault of a child under 13; and causing or inciting a child to engage in sexual activity.

He also admitted six counts of making indecent photographs of children and distributing indecent photographs of children.

Lipscombe was sentenced on Tuesday to 28 years and one month, and to remain on licence for three years after his release. He has been placed on the sex offenders register for life.

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Could be other victims, say police

Detective Constable Lauren Speight, from the Child Abuse Investigation Unit (CAIU), said: “Our investigation into the offending carried out by this man is continuing.

“We suspect he may have been in contact with other girls and could well have committed sexual offences against others. We would urge anyone who has been in contact with him to contact us.”

The married NHS executive worked with the University Hospitals Coventry and Warwickshire NHS Trust as a performance and informatics specialist.

In a statement, the trust said Lipscombe was initially suspended when he was arrested, then later dismissed in June 2024.

It added there was “nothing has been identified at this stage to indicate this individual’s criminal activity was committed as part of their role”.

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