February 29, 2024 @ 3:09 pm By JD Alois  |  

Senator Tim Scott, the ranking member on the Senate Banking Committee, wants to make the capital markets more inclusive. In a recent op-ed, Senator Scott said his new Empowering Main Street in America Act framework would “enhance financial education programs to increase market understanding and participation,… Read More

February 29, 2024 @ 12:28 pm By JD Alois  |  

Honeycomb Credit, a FINRA-regulated Funding Portal, raised equity capital at the end of 2023. According to the Form D filed with the Securities and Exchange Commission, Honeycomb sold $8.844 million in shares of the firm. Of note, Honeycomb raised new money in the amount of… Read More

February 29, 2024 @ 11:27 am By JD Alois  |  

The artificial intelligence (AI) revolution is continuing at a rapid pace. Today, Microsoft (NASDAQ:MSFT), the largest software firm in the world, has announced AI-powered Copilot for Finance. This is part of Microsoft 365 and claims to “transform modern finance.” To quote Microsoft: “Finance departments are… Read More

February 29, 2024 @ 11:19 am By JD Alois  |  

Cross-border payments firm Clear Junction has joined the UK Cryptoasset Business Council (UKCBC). The UKCBC advocates on behalf of the digital assets/crypto sector in the UK. According to a note from the UKCBC, crypto is at a key inflection point due to MiCA, and ETFs,… Read More

February 29, 2024 @ 10:50 am By JD Alois  |  

The House Financial Services Committee has announced that it is investigating the Federal Deposit Insurance Corporation (FDIC) in regard to allegations of “misconduct.” The Committee does not outline exactly what types of misconduct may be occurring but references reports of widespread malfeasance.   🚨 CALLING… Read More

February 29, 2024 @ 9:17 am By JD Alois  |  

Coinbase (NASDAQ:COIN) is back on its feet today after suffering a situation that displayed zero balances in some account holders. Comments on X indicated that server capacity was stretched, probably due to the Bitcoin bull run, which has driven interest for investors. In a statement… Read More

February 29, 2024 @ 4:00 am By JD Alois  |  

Volt is the next Fintech to be approved by the UK Financial Conduct Authority (FCA) to be approved as an E-money service provider. Currently, Volt provides real-time payments. Frequently, once a platform is an E-money institution (EMI) they may offer additional financial services. Volt states… Read More

February 28, 2024 @ 4:58 pm By JD Alois  |  

Congressman Patrick McHenry, the Chairman of the House Financial Services Committee, has reintroduced the Financial Services Innovation Act. The legislation was previously introduced by McHenry but did not garner sufficient traction to move to the House floor for a vote. This bill aims to establish… Read More

February 28, 2024 @ 4:32 pm By JD Alois  |  

Apple (NASDAQ:AAPL) released a buy now pay later (BNPL) product a year ago. Expectations are for a more extended credit option to appear soon as Apple continues its ongoing expansion into financial services. Today, Experian has shared that Apple BNPL users will now have their… Read More

February 28, 2024 @ 3:49 pm By JD Alois  |  

Reports on social media indicate that some Coinbase (NASDAQ:COIN) accounts are spontaneously cratering to zero. In a statement on X, Coinbase said they are aware of the issue and tell account holders their assets are fine. Coinbase describes itself as the “most trusted crypto exchange.”… Read More

February 28, 2024 @ 11:48 am By JD Alois  |  

Yesterday (February 27, 2024), the Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC), met to discuss several issues of importance that impact early-stage firms. Perhaps the most pressing issue is the definition of an Accredited Investor – a rule the Commission… Read More

February 28, 2024 @ 10:00 am By JD Alois  |  

B2B Insurtech Coverdash has closed on a $13.5 million Series A funding round, according to a note from the company.  The company notes that this follows a $2.5 million Seed round from last year. Nyca Partners led the funding, joined by existing investors, including Bling… Read More

February 28, 2024 @ 10:00 am By JD Alois  |  

Treasury Prime, an embedded banking provider, is said to be laying off staff, according to a blog post. Today, the company has issued a statement outlining that it will shift its efforts to regulated banks. Jason Mikula, posting on LinkedIn,  claims that Treasury Prime has… Read More

February 28, 2024 @ 8:00 am By JD Alois  |  

Marqeta (NASDAQ: MQ) has announced a new partnership with AffiniPay. The credit card platform says it will power AffiniPay’s LawPay Visa SMB credit card embedded within its MyCase platform, The card is said to be the first in the industry that helps law firms pay,… Read More

February 27, 2024 @ 11:27 pm By JD Alois  |  

UK consumers can take advantage of savings rates of more than 5%, yet some remain stuck at financial institutions that offer far lower returns. After publicly chastising firms that fail to pass on higher rates to savers, the UK Financial Conduct Authority is now launching… Read More

February 27, 2024 @ 8:28 pm By JD Alois  |  

Fintech Australia is hosting a new event – Fintech Net Zero. The goal is to highlight the sector’s sustainability qualities. Fintech Australis is the association that advocates on behalf of all forms of Fintech in the country. According to a note distributed by the group,… Read More

February 27, 2024 @ 1:47 pm By JD Alois  |  

Private securities marketplace EquityZen has issued a report that notes 28% of unicorns are now trading at less than $1 billion. These former unicorns have been impacted by the overall decline in markets as well as a stumbling economy, which has impacted valuations and access… Read More

February 27, 2024 @ 10:07 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) says that going forward, it will strive to provide more transparency in enforcement cases. At the same time, enforcement cases are expected to be resolved more rapidly. For cases where “no outcomes are achievable,” these will be closed more… Read More

February 27, 2024 @ 9:27 am By JD Alois  |  

Finland-based Enfuce, a card issuer and payment processor, says it has been approved to operate in the UK with an E-money license (EMI). Frequently, Fintechs in the UK will leverage the license to provide more banking services. The company says this is a key moment… Read More

February 27, 2024 @ 9:13 am By JD Alois  |  

ZA Bank, one of the first regulated digital banks in Hong Kong, is now offering US stock trading as part of its platform. The company highlighted the benefits of this new service, including a USD $ 3.88 commission – during a promotional period, real-time quotes… Read More