Uncategorized

February 7, 2022 @ 8:22 pm By JD Alois  |  

Sequoia Capital India has led a $450 million funding round for Polygon. Polygon is a platform for Ethereum scaling and infrastructure development. The company reports widespread adoption with 7,000+ applications hosted, 1B+ total transactions processed, approximately 130 million unique user addresses, and over $5 billion… Read More

January 26, 2022 @ 4:33 pm By JD Alois  |  

LendingClub (NYSE:LC), one of the few fully chartered digital banks, has reported Q4 earnings as well as full-year 2021 results. According to a statement by the Fintech, LendingClub earned net income of $29.1 million during Q4 versus a loss of $26.7 million year prior. For… Read More

January 25, 2022 @ 9:40 pm By JD Alois  |  

Diem, the digital currency project previously known as Libra created by Meta (NASDAQ:FB) (formerly doing business as Facebook) may be for sale. According to a report by Bloomberg, Diem is on the auction block due to “regulatory pressure.” Initially launched with great fanfare as a… Read More

January 20, 2022 @ 8:56 pm By JD Alois  |  

Earlier today the US Federal Reserve announced a discussion paper seeking feedback on the possibility of a digital dollar. Central bank digital currencies, or CBDCs, are being reviewed by central banks around the world as policymakers aim to uncover if digital currency issued by governments… Read More

December 22, 2021 @ 10:20 pm By Tony Zerucha  |  

2022 could see aggressive movement by some federal agencies, an experienced industry hand suggests. Joseph Lynyak III is a partner at the international law firm Dorsey & Whitney and one of the nation’s foremost experts in the country on the Consumer Financial Protection Bureau (CFPB),… Read More

December 16, 2021 @ 10:37 am By JD Alois  |  

The transformation of analog finance to digital finance is ongoing but the onset of the global health crisis of COVID-19 has accelerated digital transformation for all. For Fintech, this has meant a boom in digital (neo) banking, investing platforms, and a host of other financial… Read More

December 15, 2021 @ 11:23 am By JD Alois  |  

Wise (LSE:WISE) has completed research that concludes international banking undermines the effectiveness of small businesses to expand. A challenge that should come as no surprise to SMEs aiming to expand overseas. Wise states that “broken payments and banking technology remain a barrier to international ambitions.”… Read More

December 9, 2021 @ 10:31 am By JD Alois  |  

The Association of German Credit Platforms (VdK) has accepted nordIX AG as a full member. VdK advocates for the professional, honest and transparent design of  online debt financing as well as compliance with the high standards by all market participants. NordIX AG, founded in 2009,… Read More

December 8, 2021 @ 8:37 am By JD Alois  |  

Later today (December 8, 2021), the House Committee on Financial Services will hold a hearing entitled, “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”  This hearing will be widely scrutinized by the Fintech sector… Read More

November 3, 2021 @ 7:59 pm By JD Alois  |  

Acting Comptroller of the Currency Michael Hsu delivered a compelling speech today during a presentation at the American Fintech Council, Fintech Policy Summit. The AFC largely represents digital and neo-banks as well as non-bank lenders. Hsu recently spoke at a Blockchain Association event where he… Read More

October 27, 2021 @ 12:40 pm By JD Alois  |  

“We are making this country a modern science and technology superpower,” Rishi Sunak, Chancellor of the Exchequer. The Autumn Budget 2021 was unveiled today as UK Chancellor of the Exchequer Rishi Sunak took the podium in Parliament to sell his vision. Once again, the Budget… Read More

October 22, 2021 @ 9:55 am By JD Alois  |  

Neobank Revolut has selected Juan Miguel Guerra as CEO for Mexico as the Fintech moves into a new market. Guerra was previously at RappiPay and is said to have held senior executive roles at Citibanamex and other Fintech firms. Mexico is Revoluts first step into… Read More

October 19, 2021 @ 9:53 pm By JD Alois  |  

The North Carolina Regulatory Sandbox Act of 2021 has been signed into law making the state one of a handful that are seeking to encourage innovation in financial services. The Mountaineer reported that the legislation received unanimous support in both the state House and Senate…. Read More

October 15, 2021 @ 5:44 pm By JD Alois  |  

As was reported earlier today, Tether – the leading dollar-based stablecoin (USDT), along with crypto exchange Bitfinex, were the targets of enforcement actions issued by the US Commodity Futures Trading Commission (CFTC). Both platforms are required to pay penalties with Tether paying $41 million and… Read More

September 27, 2021 @ 3:51 pm By JD Alois  |  

The decline in publicly traded firms has been well-documented. A result of the excessive cost and reporting requirements combined with an ocean of private capital has compelled many successful firms to stay private as long as possible. Back in the day, an initial public offering… Read More

September 14, 2021 @ 3:31 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India today have announced their intent to link Singapore’s PayNow and India’s Unified Payments Interface (UPI) real-time payment systems by July 2022. The goal is to provide instantaneous, low-cost fund transfers directly from one… Read More

September 8, 2021 @ 8:31 am By JD Alois  |  

Yesterday, Coinbase (NASDAQ:COIN) posted a notice regarding receipt of a Wells Notice from the Securities and Exchange Commission (SEC) indicating the regulator may sue it due to its planned Coinbase Lend program. Around the same time Coinbase announced the regulators’ investigation, CEO Brian Armstrong took… Read More

August 18, 2021 @ 7:40 pm By Tony Zerucha  |  

XCarnival, a synthetic asset aggregator for decentralized finance, saw its flagship product pass an important credibility test this week. XBroker, a product that allows users to borrow money while using NFTs as collateral, passed a security audit from noted firm Certik this week. The security… Read More

July 24, 2021 @ 4:22 pm By JD Alois  |  

Real estate crowdfunding. one of the most popular sectors of online capital formation is picking up pace in France, according to research by Fundimmo. While 2020 was a challenging year for all platforms, everywhere, 2021 is on track of a solid year of gains for… Read More

June 21, 2021 @ 9:47 pm By Priyanka Pani  |  

Mobility app Moja Ride has partnered with Fintech O-CITY to fuel its digital innovation and future expansion plan in key West African markets. Based in Ivory Coast’s capital city Abidjan, Moja’s partnership with O-CITY comes after a series of funding rounds from leading global investors,… Read More