June 26, 2023 @ 6:44 pm By JD Alois  |  

Financial tech provider Finastra says it has been approved for the new FedNow Service launching in the next few weeks. FedNow is a US government initiative to power real-time payments. The service will be integrated into Finastra’s Payments To Go platform and will later be… Read More

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

Worthy Financial, Inc., has announced another securities offering in the form of a property bond that generates a 5.5% fixed return for investors. The security is issued under the Reg A+ exemption and is available for retail investors. The offering document must be qualified by… Read More

June 26, 2023 @ 10:14 am By JD Alois  |  

The Autorité des Marchés Financiers (AMF), the main securities regulator in France, says it wants to become a regulator that supports financial innovation. As part of its strategic ambitions for the coming years, the AMF, as presented by its current Chair Marie-Anne Barbat-Layani, has issued… Read More

June 25, 2023 @ 7:25 pm By JD Alois  |  

The FATF (Financial Action Task Force) has just concluded its third Plenary under the Presidency of T. Raja Kumar of Singapore and has posted an update on the gathering. Amongst other hot topics, the group has bemoaned the slow pace of adoption of the FATF… Read More

June 25, 2023 @ 5:07 pm By JD Alois  |  

Seedrs CEO Jeff Kelisky says it is time to “double down on the bustling UK tech sector.” In a blog post, Kelisky noted that expectations are for VC funding in European startups to be over 50% less in 2023 than in 2021 due to the… Read More

June 24, 2023 @ 2:24 pm By JD Alois  |  

Prime Trust, once one of the most successful Fintechs serving the securities crowdfunding industry, is now insolvent, according to a document filed by the State of Nevada, Department of Business and Industry, Financial Institutions Division (NFID). In a cease and desist (C&D) order, NFID claims… Read More

June 24, 2023 @ 10:27 am By JD Alois  |  

Volatility Shares Trust has submitted a filing to launch a Bitcoin Exchange Traded Fund (ETF) on the Cboe. According to the document, the Bitcoin ETF utilizes leverage to drive daily returns. The 2x Bitcoin Strategy ETF aims to accomplish the following strategy: “2x Bitcoin Strategy… Read More

June 23, 2023 @ 8:54 am By JD Alois  |  

The news cycle is consumed with the debate about artificial intelligence (AI) and how it is going to transform the world. AI, machine learning has been integrated into various Fintech platforms for years now but the rise of ChatGPT has drawn more interest and scrutiny…. Read More

June 22, 2023 @ 6:42 pm By JD Alois  |  

Another Pig Butchering scam is in the news again. “Sha Zhu Pan” or “Pig Butchering” is a romance plot designed to fleece the funds of the unsuspecting. In this case, the Commodity Futures Trading Commission (CFTC) has filed an enforcement action against Cunwen Zhu and… Read More

June 22, 2023 @ 3:31 pm By JD Alois  |  

Detractors of digital assets, or crypto, typically point to the utilization of crypto to pursue nefarious activities such as money laundering. Rules exist for financial transactions regarding “know your customer” (KYC) and “anti-money laundering” (AML), but they are enforced to various degrees depending on the… Read More

June 22, 2023 @ 1:44 pm By JD Alois  |  

The Bank of England has raised its benchmark interest rate by 50 bps, increasing from 4.5% to 5%. Today, the Monetary Policy Committee (MPC) voted by 7 to 2 to increase by 50 bps. Two of the members wanted to remain at the current 4.5%… Read More

June 22, 2023 @ 12:59 pm By JD Alois  |  

Prime Trust was founded many years ago at the beginning of online capital formation. At one point, it was one of the most important and successful firms in the securities crowdfunding marketplace providing services for just about all the platforms. As digital assets became a… Read More

June 22, 2023 @ 12:33 pm By JD Alois  |  

Bitgo has decided to terminate its preliminary agreement to acquire Prime Trust. Earlier this month, rumors circulated about troubles at Prime Trust, with Bitgo emerging as a white knight to acquire the firm. BitGo had signed a term sheet to acquire the equity of Prime… Read More

June 21, 2023 @ 3:00 pm By JD Alois  |  

D3VC.ai, a new investment and funding platform founded by crowdfunding experts, says it has raised $775,000 in the first week of availability for its inaugural Fund I.  This first fund is looking to raise up to $5 million, which it will invest in approximately 200… Read More

June 21, 2023 @ 2:12 pm By JD Alois  |  

Darren Westlake, co-founder and former CEO of Crowdcube, has joined the board of directors of Crowdfunder, a UK-based rewards platform. According to multiple reports, Westlake will become the “interim chairperson” to help direct the strategy of the platform. Westlake exited Crowdcube earlier this year, passing… Read More

June 21, 2023 @ 1:47 pm By JD Alois  |  

Payments Fintech Volt has raised a $60 million Series B funding round. The company said the backing was indicative of the confidence in the UK Fintech sector. The additional capital will be utilized to expand into new markets, including Asia Pacific and the Americas. At… Read More

June 21, 2023 @ 1:26 pm By JD Alois  |  

The Canadian Securities Administrators (CSA), the entity that represents all provincial/territorial regulators, says some crypto trading platforms are siting relations with bogus regulatory or dispute organizations. These trading platforms are simply trying to burnish their creditability, hoping that an unsuspecting investor may fall for the… Read More

June 21, 2023 @ 1:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an enforcement action against audit firm Marcum LLP regarding its audit work for “hundreds” of SPACs. Marcum has settled the matter without admitting or denying the SEC’s findings, paying a $10 million penalty while agreeing to remedial… Read More

June 21, 2023 @ 12:36 pm By JD Alois  |  

Bitcoin (BTC) has regained a certain amount of luster in recent days.  In the past 24 hours, Bitcoin has risen from over $27,000 to now topping $30K. Much of this crypto exuberance is due to the announcement that BlackRock had filed to launch a Bitcoin… Read More

June 21, 2023 @ 9:44 am By JD Alois  |  

Estate planning is another financial service sector that receives a digital update. Trust & Will is making headway in this area of Fintech, today announcing an agreement with UBS Workplace Wealth Solutions to provide services. Trust & Will will provide the ability to create wills… Read More