July 7, 2023 @ 12:34 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has commented on the rate spread between what banks are receiving in interest rate returns and what they are giving their deposit holders.  The regulator said in a studied, underwhelming tone that the “decision-making has been slow” for banks… Read More

July 7, 2023 @ 12:12 pm By JD Alois  |  

The Autorite des marches financiers (AMF) in France has published a 2023 Markets and Risk Outlook report. While covering a broad spectrum of issues, the item which garners the highest level of concern is the lack of investor protection and poor information about certain investments…. Read More

July 7, 2023 @ 11:15 am By JD Alois  |  

There have been multiple reports that four top executives have exited Binance in rapid succession. Several reports claim that these departures are due to the regulatory challenges Binance is experiencing – most pointedly, the fact that Binance is being sued by the US Securities and… Read More

July 6, 2023 @ 6:23 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed and simultaneously settled charges regarding a multi-million dollar Bitcoin fraud, according to a release. Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, have been charged with engaging in a deceptive and fraudulent… Read More

July 6, 2023 @ 5:38 pm By JD Alois  |  

In late June, PeerStreet filed for bankruptcy protection in federal courts. While not a complete surprise, the firm’s failure rattled industry insiders as PeerStreet has long been viewed as a respected player in the real estate crowdfunding sector. Launched in 2013 and serving accredited investors,… Read More

July 6, 2023 @ 5:03 pm By JD Alois  |  

Corporate bankruptcies have hit the highest number since 2010, according to a report by S&P Global Market Intelligence. S&Ps numbers show 340 bankruptcies during the first 6 months of 2023. Back in 2010 that number was 468. The report points to several notable filers including… Read More

July 6, 2023 @ 8:39 am By JD Alois  |  

Twitter has long been expected to move into financial services. Peer to peer payments on the social media platform make a lot of sense – not to mention payments and transfers in general. One of the largest payment platforms in the world is China’s WeChat… Read More

July 6, 2023 @ 8:18 am By JD Alois  |  

Crowdfund Capital Advisors (CCA) has distributed a report on Q2 2023 securities crowdfunding under Reg CF. According to their data, Q2 showed “steady growth” along with a slight decrease in new deals when compared to Q1 2023. CCA says that new deals during the quarter… Read More

July 5, 2023 @ 6:00 pm By JD Alois  |  

ESG, or Environmental, Social and Governance, is a big sector of debate in the financial services sphere. While offering investors an option to invest in impact focused firms is one thing, demanding companies to pursue goals aligning with one political perspective is something very different…. Read More

July 5, 2023 @ 11:58 am By JD Alois  |  

Vestas has expanded its partnership with payment infrastructure provider Mangopay, to manage the payment flows of Covento, its B2B marketplace for the renewable energy sector. The two firms have been working together since 2021. The “enhanced partnership” is expected to see Mangopay manage all payment… Read More

July 5, 2023 @ 11:30 am By JD Alois  |  

Corlytics has acquired Clausematch thus combining two Regtech firms. The terms of the acquisition were not disclosed. Corlytics is plugged directly into multiple international regulators, serving 14 of the top 50 global banks, as well as insurers, payment providers and investment managers. Clausematch works with… Read More

July 5, 2023 @ 11:12 am By JD Alois  |  

Tether says its Euro based stablecoin Euro Tether (EUR₮) and Tether Gold (XAU₮) will soon trade on XT.com. XT.COM Exchange is described as a “social-infused cryptocurrency exchange.” XT.COM reports over 6 million registered users, including more than 500,000 monthly active users. Over 800 different cryptocurrencies… Read More

July 5, 2023 @ 11:03 am By JD Alois  |  

VersiFi has announced seed funding from the Hunting Hill Group (HHG). The amount of the funding was not disclosed. VersiFi is a digital asset firm providing prime services for its customers. HHG is a digital asset investment firm focused and the investment is described as… Read More

July 5, 2023 @ 10:44 am By JD Alois  |  

As was previously reported, DealMaker has filed a lawsuit against Issuance and its founder Darren Marble claiming the Issuance platform is “predicated on and copied from DealMaker’s own platform.” In a comment sent to CI, Marble said “the claims in this lawsuit are entirely without… Read More

July 5, 2023 @ 9:00 am By JD Alois  |  

Part of the largest securities crowdfunding operation in the world, Seedrs has announced that it has topped 2000 successful securities offerings on the platform. Part of the Republic group of companies, the combination of the various platforms make Republic/Seedrs the largest online capital formation provider… Read More

July 4, 2023 @ 1:08 pm By JD Alois  |  

The ongoing battler between the Digital Currency Group (DCG) and Gemini has ratcheted up as Cameron Winklevoss has sent a demand letter to DCG and founder Barry Silbert. To take a step back, Gemini had utilized the services of DCG subsidiary Genesis for its yield… Read More

July 4, 2023 @ 9:42 am By JD Alois  |  

SME peer-to-peer lender Linked Finance has topped €250 Million in Lending to Irish firms. According to a note from the company, during the first 6 months of 2023, Linked Finance issued €31.7 million in loans representing a 90% increase in comparison to the first 6… Read More

July 3, 2023 @ 12:26 pm By JD Alois  |  

The Invesdor Group is the combination of Finnest, Kapilendo, and Oneplanetcrowd. The Nordic company aims to become the dominant online capital formation platform in the European Union by providing access to capital and investment opportunity across Europe. At the end of 2022, Invesdor announced its… Read More

July 3, 2023 @ 9:13 am By JD Alois  |  

Embedded finance platform Velexa has garnered recognition from CBS News – not typically known for its activity in the Fintech sector. Velexa is a newer platform that enables clients to embed investing services within weeks. CBS has recognized Velexa as an Innovation & Disruption Leader…. Read More

July 3, 2023 @ 8:49 am By JD Alois  |  

Open banking platform Tink has joined the UK’s Joint Regulatory Oversight Committee (JROC)’s new working groups on Variable Recurring Payments (VRP) and the future open banking entity. Andrew Boyajian, head of VRP at Tink, will be representing the European Third Party Providers Association (ETPPA) in… Read More