July 28, 2022 @ 2:36 pm By JD Alois  |  

Open Banking (or Open Finance) provider MX has appointed former PayPal executive Jim Magats as its new CEO, effective August 17, 2022. Magats will also join the MX Board of Directors. Ryan Caldwell, founder and Executive Chairman of the Board of Directors, MX, issued the… Read More

July 28, 2022 @ 12:21 pm By JD Alois  |  

What is a digital asset? Well, that depends on who you ask. These questions become important when it comes to things like tax treatment, securities law, ownership,  etc. The UK Law Commission is out with proposed changes for the treatment of digital assets, including NFTs… Read More

July 28, 2022 @ 10:01 am By JD Alois  |  

The US Economy delivered a second-quarter of GDP decline, an event that has historically determined that an economy is in recession. The US Department of Commerce, Bureau of Economic Analysis (BEA), reported that Q2 2022 GDP declined by -0.9%. This follows a Q1 decline of… Read More

July 28, 2022 @ 9:40 am By JD Alois  |  

Quasar Finance, a Cosmos-based DeFi project, has raised $6 million from big-name blockchain VCs including Polychain Capital, Blockchain Capital, Figment Capital, Lightshift Capital, and Galileo. Quasar CEO and co-founder Valentin Pletnev aims to make digital assets “simple, accessible and secure, while utilizing the Cosmos platform’s… Read More

July 28, 2022 @ 9:30 am By JD Alois  |  

Crypto exchange Okcoin is reporting a 125% increase in institutional trading from Q1 to Q2 2022. Okcoin said this is the fourth consecutive quarter that institutional transactions more than doubled from the prior quarter. Institutional customers jumped by 13% in Q2 and 28% for the… Read More

July 28, 2022 @ 8:14 am By JD Alois  |  

Zodia Markets, a crypto exchanger and brokerage catering to institutional investors, has been registered as a crypto platform with the UK Financial Conduct Authority (FCA) and officially launched its crypto trading business. In the UK, a crypto exchange must be registered with the FCA to… Read More

July 27, 2022 @ 10:25 pm By JD Alois  |  

Digital securities marketplace ADDX has listed a private credit fund managed by Helicap Investments. Helicap Fund I is the flagship fund of the company and it is designed to promote financial inclusion in South East Asia, according to a company statement. The Fund aims to… Read More

July 27, 2022 @ 7:41 pm By JD Alois  |  

In the past week, CI has reported on the enforcement action initiated by the Securities and Exchange Commission (SEC), involving a former Coinbase (NASDAQ:COIN) manager and two partners regarding allegations of insider trading. According to the SEC’s complaint, non-public information was accessed prior to release,… Read More

July 27, 2022 @ 5:41 pm By JD Alois  |  

The Small Business and Entrepreneurship Council (SBE Council) has long championed entrepreneurship in Washington, DC. Founded in 1994, the SBE Council claims over 100,000 members. Its mission is to educate and advocate on behalf of these smaller firms – which typically do not have the… Read More

July 27, 2022 @ 4:41 pm By JD Alois  |  

  LendingClub (NYSE:LC) has announced Q2 financial results reporting that both top-line revenue and net income are improving. According to the digital bank, Q2 delivered record revenue of $330 million, fueled by interest income along with loan marketplace revenue. Net income was solid at $182.1… Read More

July 27, 2022 @ 3:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss the topic of crowdfunded securities, under Reg CF and Reg +, and liquidity. The SBCFAC is a group of industry leaders that advise the Commission on… Read More

July 27, 2022 @ 12:56 pm By JD Alois  |  

Bitso, a Latin American crypto exchange, has facilitated the transfer of Argentian football (soccer) player to São Paulo FC’ Bitso states that this is the first such transfer to take place with midfielder Giuliano Galoppo signing with the São Paulo club, completed with crypto, and… Read More

July 27, 2022 @ 12:47 pm By JD Alois  |  

Fiserv, Inc. (NASDAQ: FISV), an old-school Fintech that has been offering services since about 1984, reported earnings that beat analyst expectations. Shares in Fiserv have responded positively to the news, trading higher at around $104 today, having traded at about $97 at the beginning of… Read More

July 27, 2022 @ 9:47 am By JD Alois  |  

Upgrade, a Fintech providing credit services along with neo banking offerings like checking, has announced a new card that combines buy now- pay later (BNPL) services alongside the option to pay now. According to a statement from the company, the Upgrade OneCard is a single… Read More

July 26, 2022 @ 5:13 pm By JD Alois  |  

Is there a thaw in the much-discussed crypto winter? If you are following crypto markets, you know rather well that digital assets have tanked in 2022, dropping from all-time high valuations of around $3 trillion to under $1 trillion. Much of the decline can be… Read More

July 26, 2022 @ 4:51 pm By JD Alois  |  

Routable has added a new cross-border payments solution that is said to allow payments across most all countries in the world. Routable pitches its platform as the simplest way to enable business-to-business payments. Its service is utilized by companies like Ticketmaster and Remax. Omri Mor,… Read More

July 26, 2022 @ 12:28 pm By JD Alois  |  

Monzo, a leading digital bank, has been ordered by the UK Competition and Markets Authority (CMA) to manage its departing customers better. According to a statement by the CMA, Monzo must review how it communicates with exiting customers regarding historic financial transactions. Apparently, Monzo informed… Read More

July 26, 2022 @ 12:13 pm By JD Alois  |  

GoCardless now offers Variable Recurring Payments (VRP). GoCardless states that its service will enable developers etc. to incorporate VRPs as the deadline for VRPs nears. GoCardless is a direct bank payment solution that facilitates both both recurring and one-off payments directly from customers’ bank accounts… Read More

July 26, 2022 @ 12:01 pm By JD Alois  |  

TestFit has raised $20 million in a Series A funding round led by Parkway Venture Capital. This brings total funding to date for the startup to $22 million, according to a company statement. TesetFit is an artificial intelligence (AI) enhanced software platform that aims to… Read More

July 26, 2022 @ 10:26 am By JD Alois  |  

Popular Open Banking service provider Plaid has announced a new service called Variable Recurring Payments (VRP). Plaid claims the offering can help UK businesses save more than £1.5 billion annually by slicing payment processing fees, according to a company statement. As the name explains, VRP… Read More