July 20, 2023 @ 11:41 am By JD Alois  |  

FedNow went live today. FedNow is a payments and transfers service provided by the US Federal Reserve. Approved financial institutions may use the service to enable immediate payments and transfers. Currently, there are 35 approved institutions out of around 9000 banks and credit unions in… Read More

July 20, 2023 @ 11:27 am By JD Alois  |  

FedNow, an instantaneous payments and transfer service brought to you by the US Federal Reserve, is now live. FedNow is available 24/7/365 for approved institutions. According to a statement by the Fed, 35 banks and credit unions, along with the U.S. Department of the Treasury’s… Read More

July 20, 2023 @ 11:09 am By JD Alois  |  

Rnwl, an Insurtech that claims to be building the insurance platform of the future, has closed its most recent funding round on Seedrs. Initially targeting a raise of £150,000, Rnwl closed at almost double that amount raising £295,754 from 394 individual investors. Rnwl raised equity… Read More

July 19, 2023 @ 3:15 pm By JD Alois  |  

In September 2022, Nasdaq announced a new Nasdaq Digital Assets division that would provide a custody solution, subject to regulatory approval. According to reports, Nasdaq has decided to abandon its push into crypto custody to focus on other initiatives – like its move into Regtech… Read More

July 19, 2023 @ 2:44 pm By JD Alois  |  

European tokenization platform Tokeny has announced that it has partnered with Dfns to offer an “all in one tokenization platform.” Dfns is a cybersecurity firm enabling crypto wallet infrastructure, offering a wallet as a service product. Dfns offers an API-first key management solution (KMS) to provide… Read More

July 19, 2023 @ 11:31 am By JD Alois  |  

New legislation has been submitted by Senator Jack Reed, co-sponsored by Senators Mark Warner,  Mike Rounds, and  Mitt Romney. The Crypto Council for Innovation has slammed the legislation as “arbitrary and ill-defined.” The bill (S.2355) is described as “a bill to clarify the applicability of… Read More

July 19, 2023 @ 10:26 am By JD Alois  |  

TP24, a Fintech that offers SMEs revolving loans from £250,000 to £5,000,000, reports that it has raised £345 million in debt funding from Barclays Bank and M&G Investments. TP24 says that £240 million of the funding will be used for lending to SMEs in the… Read More

July 19, 2023 @ 9:29 am By JD Alois  |  

Temenos (SIX: TEMN), a banking as a service provider, has been certified for FedNow, according to a statement from the company. FedNow is a new transfer service providing instant movement of funds, provided by the US Federal Reserve. The FedNow Service will be available to… Read More

July 19, 2023 @ 9:09 am By JD Alois  |  

European digital bank bunq has now topped 9 million users, holding €4.5 billion in user deposits. Bunq reported that it grew its user base from 5.4 million to over 9 million in a bit longer than one year. In the last four months, Bunq has… Read More

July 19, 2023 @ 9:00 am By JD Alois  |  

Christian Faes, co-founder and former CEO of publicly traded Fintech LendInvest, has launched a new venture. Faes has announced F2 Finance, a Fintech entering the “Fix and Flip” marketplace in the US. The company is sizing up a market at $68 billion, starting with several… Read More

July 19, 2023 @ 8:19 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has reported Q2 2023 earnings, and it’s a bit of a mixed bag. Goldman surpassed expectations for top-line revenue generating $10.9 billion on a predicted $10.61 billion. Net revenue disappointed as Goldman generated an earnings per share of $3.08, with analysts anticipating… Read More

July 18, 2023 @ 10:23 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has canceled the Australian financial services (AFS) license held by FTX Australia Pty Ltd effective from 14 July 2023. FTX Australia is a subsidiary of FTX that is in bankruptcy in US courts. FTX Australia was placed into… Read More

July 18, 2023 @ 7:17 pm By JD Alois  |  

SPACs, or special purpose acquisition companies, are at a four-year low for initial public offerings (IPOs), according to S&P Global Market Intelligence. SPACs hit a quarterly high in the number of offerings in Q1 of 2021. For deal amounts, SPACs topped $92 billion that same… Read More

July 18, 2023 @ 4:57 pm By JD Alois  |  

The Financial Stability Board (FSB) has published its recommendations for the regulation of digital assets or crypto. The recommendations are described as follows: High-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets; Revised high-level recommendations for the regulation, supervision, and oversight… Read More

July 18, 2023 @ 4:07 pm By JD Alois  |  

Evertas has acquired Bitsure, according to a company statement. Evertas is a digital asset insurance provider. Bitsure provides insurance for crypto miners. Both companies clame to be the first of their kind in the Insurtech sector. Evertas reports that today, Bitsure policies insure about 6%… Read More

July 18, 2023 @ 11:13 am By JD Alois  |  

Coinbase (NASDAQ:COIN) CEO Brian Armstrong is expected to meet with Democrat House members to discuss regulatory issues and the ongoing battle with the Securities and Exchange Commission (SEC), according to a report. Reuters says that Armstrong will speak with members of the New Democrat Coalition… Read More

July 18, 2023 @ 10:05 am By JD Alois  |  

Senator Elizabeth Warren has sent a letter to SEC Chair Gary Gensler requesting the Commission investigate Elon Musk and his activities with his two companies – Twitter and Tesla. The premise is that there is a conflict of interest with Musk’s involvement in Tesla and… Read More

July 18, 2023 @ 9:26 am By JD Alois  |  

Not too long ago, it was reported that some Apple Savings customers were having difficulty withdrawing funds from their accounts. Apple Savings is a new Fintech feature provided by Apple (NASDAQ:AAPL) and powered by Goldman Sachs (NYSE:GS).  The service offers a relatively high-interest rate for… Read More

July 18, 2023 @ 8:49 am By JD Alois  |  

Online investment platform SeedBlink is raising money for Dronamics for the second time. SeedBlink is a European securities crowdfunding platform that seeks to list private securities for firms raising capital from VCs as well. SeedBlink is approved under ECSPR and thus can raise funds across… Read More

July 17, 2023 @ 10:58 am By JD Alois  |  

German financial regulator BaFin has launched an investigation targeting Blackfort Tech based in Estonia. In a consumer warning, BaFin said that the company offers banking business or provides financial and/or investment services on its website Blackfort.exchange, without the required authorization. Blackfort.exchange lists both an address… Read More