February 1, 2024 @ 12:47 pm By JD Alois  |  

Following the exit of Mica Fisher, NC3 [National Coalition for Community Capital] has announced a new Executive Director, Katharine Gilman. Prior to joining NC3, Gilman was the Director of Operations at the Ecology Learning Center, where she helped to establish a public charter high school… Read More

February 1, 2024 @ 10:52 am By JD Alois  |  

The pan-European regulatory regime for securities crowdfunding is still very young. Many platforms established before the rules existed have yet to apply to be approved under the new rules. ECSPR, or European Crowdfunding Securities Provider Regulations, enables a platform to list securities and sell them… Read More

February 1, 2024 @ 10:36 am By JD Alois  |  

Coinshares says it now offers an exchange-traded product (ETP) that offers 1.25% staking rewards for Ethereum (Nasdaq Stockholm: CS; US OTCQX: CNSRF). The ETP does not hold a fee. The ETP trades on Nasdaq Stockholm and OTC Markets. Frank Spiteri, Head of Asset Management at… Read More

February 1, 2024 @ 10:19 am By JD Alois  |  

Paytm, the operating name of One 97 Communications Limited (PAYTM.NS), shares cratered today as the Reserve Bank of India (RBI) decided to halt deposits in its digital wallet and accounts. Paytm describes itself as India’s most loved payments app. The company also operates Paytm Payments… Read More

February 1, 2024 @ 9:53 am By JD Alois  |  

Fintech Scotland says it will be partnering with Deloitte, Tesco Bank, Morgan Stanley, and ABRDN on its first innovation challenge. The inaugural innovation challenge, established in concert with the Financial Regulation Innovation Lab (FRIL), focuses on simplifying compliance by leveraging AI and other technologies. The… Read More

January 31, 2024 @ 7:05 pm By JD Alois  |  

Ram Ahluwalia, founder of PeerIQ (sold) and now founder of Lumida, has slammed Chairman Gary Gensler, claiming the damage he has done to the Securities and Exchange Commission (SEC) is significant. Ahluwalia references an article that quoted former SEC Commissioner Michael Piwowar. In the article… Read More

January 31, 2024 @ 2:47 pm By JD Alois  |  

The US Federal Reserve announced that it has decided to hold benchmark rates steady at a rate of 5.25% to 5.5% today, as the Wall anticipated. The statement issued by the Federal Open Market Committee (FOMC) indicated that job gains have moderated since early last… Read More

January 31, 2024 @ 11:19 am By JD Alois  |  

The European Securities and Markets Authority (ESMA) posted two consultations on crypto this week—one consultation on reverse solicitation and another on the classification of crypto-assets as financial instruments. The European Union (EU) has approved bespoke rules for crypto under MiCA or Markets in Crypto Assets regulation…. Read More

January 31, 2024 @ 9:21 am By JD Alois  |  

Dublin-based Fenergo has been selected by the Centralis Group to improve its client and investor onboarding process. Fenergo is a company that provides “Client Lifecycle Management” (CLM) solutions, including Know your Customer (KYC) and Anti-Money-Laundering (AML) services. Fenergo offers a regulatory-compliant service for onboarding and… Read More

January 31, 2024 @ 8:36 am By JD Alois  |  

Apple (NASDAQ:AAPL) has revealed that the number of Apple Card holders now numbers over 12 million since its launch in 2019. Apple partners with Goldman Sachs (NYSE:GS) to provide the Fintech services. At the same time, in the past several days, Apple moved its Apple… Read More

January 30, 2024 @ 5:25 pm By JD Alois  |  

LendingClub (NYSE:LC) reported Q4 earnings today generating a net income of  $10.2 million and a diluted EPS of $0.09. A year prior in the same quarter, LendingClub generated a net income of  $38.9 million and a diluted EPS of $0.36. Scott Sanborn, CEO of LendingClub,… Read More

January 30, 2024 @ 4:10 pm By JD Alois  |  

PayPal (NASDAQ:PYPL), a top payments Fintech that also includes Venmo, is letting go around 9% of its workforce or approximately 2500 individuals according to multiple reports. CNBC said that PayPal CEO Alex Criss distributed an internal memo indicating the exits will take place throughout the… Read More

January 30, 2024 @ 3:09 pm By JD Alois  |  

As was reported yesterday the founders and promoters of Hyperfund, an alleged $1.89 billion crypto fraud, face both a civil action by the Securities and Exchange Commission as well as criminal charges brought by the US Department of Justice. Sam Lee has been charged in… Read More

January 30, 2024 @ 2:53 pm By JD Alois  |  

SellersFi (formerly SellersFunding) is reporting that it has inked a deal to provide credit on the Amazon (NASDAQ:AMZN) marketplace. According to the Fintech, eligible Amazon sellers will be able to tap into a credit line of up to $10 million via Amazon Lending. Ricardo Pero,… Read More

January 30, 2024 @ 9:39 am By JD Alois  |  

As was previously announced, Neobank Dave (Nasdaq: DAVE) has repurchased a convertible note that was held by FTX Ventures, the VC arm of FTX, initially funded with $2 billion. In a public statement Dave noted the original principle amount was $100 million with a purchase… Read More

January 30, 2024 @ 8:38 am By JD Alois  |  

As Lithuania explains, only a short time ago few people knew about the country – much less where it is located. Today, Lithuania punches above its weight class when it comes to attracting innovative young firms – including many Fintechs. According Invest Lithuania and its… Read More

January 29, 2024 @ 10:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against HyperFund and its principles alleging a $1.7 billion “Crypto Pyramid scheme.” Founders Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) were said to have promoted HyperFund which allegedly claimed guaranteed returns for… Read More

January 29, 2024 @ 8:11 pm By JD Alois  |  

SoFi (NASDAQ:SOFI), a regulated digital bank that provides many different financial services, reported Q4 financial results today and Wall Street likes them. SoFi became a public company via a SPAC deal. Currently, shares in SoFi closed over 20% higher on the news now trading over… Read More

January 29, 2024 @ 3:14 pm By JD Alois  |  

NatWest is planning to close 30 more bank branches in 2024, according to a report by GBNews. This most recent revelation of branch closures just adds to the dozens of closures that have taken place in recent months. The report lists the locations of the… Read More

January 29, 2024 @ 11:13 am By JD Alois  |  

Koho, a Canadian Fintech, says it is moving forward with its pursuit of a banking license. According to a note from the firm, Koho has entered the “next phase” of securing approval from regulators. Koho currently offers a spending and savings account and an integrated… Read More