December 7, 2022 @ 11:07 pm By JD Alois  |  

The Hedera Governing Council has announced new executives joining their team, each with interesting backgrounds. Hedera is the entity that leads the open-source Hedera network, a blockchain technology that aims to solve many of the challenges of competing distributed ledger technologies. According to a note… Read More

December 7, 2022 @ 6:35 pm By JD Alois  |  

Congressman Patrick McHenry has been selected as the incoming Chair of the House Financial Services Committee. The House Republican Steering Committee made the move in advance of the 118th Congress, which commences in January when the Republicans take over leadership of the House. McHenry’s selection… Read More

December 7, 2022 @ 4:51 pm By JD Alois  |  

In a very difficult economic environment, Robinhood (NASDAQ:HOOD) has published select data points highlighting platform operations. According to the trading platform: Net Cumulative Funded Accounts (NCFA) at the end of November were 23.0 million, up approximately 40 thousand from October 2022. Monthly Active Users (MAU)… Read More

December 7, 2022 @ 4:44 pm By JD Alois  |  

The Depository Trust & Clearing Corporation (DTCC) has published its annual Systemic Risk Barometer Survey. The results should come as no surprise. According to DTCC: 68% of survey respondents cited Geopolitical Risks & Trade Tensions as a top threat, up from 49% last year 61%… Read More

December 7, 2022 @ 4:08 pm By JD Alois  |  

Airwallex has partnered with open banking platform Plaid. The agreement will see Airwallex offer an integrated solution for Automated Clearing House (ACH) payments. Airwallex said this will enable a more seamless and cost-efficient way to authorize debits from bank accounts into Airwallex accounts.  Users will… Read More

December 7, 2022 @ 4:01 pm By JD Alois  |  

Fitch Ratings has posted a comment on the Fintech market, taking a neutral stance on innovative financial services firms for 2023. Fitch predicted continued revenue growth for North American and European Fintechs in 2023, but at a slower pace than in recent years. As one… Read More

December 7, 2022 @ 3:47 pm By JD Alois  |  

Coinbase (NASDAQ:COIN), the only publicly traded crypto exchange, is not having a very good year. In fact, Coinbase CEO Brian Armstrong recently commented in an interview that revenue in fiscal year 2022 is expected to be half of what the exchange delivered in 2021. The… Read More

December 7, 2022 @ 11:34 am By JD Alois  |  

Digital bank Zopa has distributed a note that they are “bucking the trend” and raising entry-level pay by around 20% as other firms are letting people go. Starting pay for entry-level positions now commences at £27,000 – an amount that Zopa states is 25% a… Read More

December 7, 2022 @ 11:06 am By JD Alois  |  

This past Mondy, Silvergate (NYSE:SI) CEO Alan Lane took the extraordinary measure of posting a public letter defending his bank’s handling of the accounts of now bankrupt FTX and affiliated hedge fund Alameda Research. Silvergate is a regulated bank that has been a leader in working… Read More

December 7, 2022 @ 10:43 am By JD Alois  |  

Popular digital bank Starling Bank has announced new virtual cards along with features that can be incorporated into the tech. Starling Bank said that virtual cards are now available for Personal Current Account customers and updated its Spending Insights. The features add to the bank’s… Read More

December 7, 2022 @ 9:37 am By JD Alois  |  

As part of the ongoing objective of a Capital Markets Union, the European Union has announced new proposals aimed at making it easier for firms to list securities across the EU. According to a statement by the EU: Today’s proposed measures will: Make our clearing… Read More

December 7, 2022 @ 9:18 am By JD Alois  |  

Avant has raised $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds, according to a release. Avant is an online lender that targets alternative assets like specialty finance, leasing, structured products and more. Matt Bochenek, CEO of Avant, said… Read More

December 7, 2022 @ 9:08 am By JD Alois  |  

ADDX has announced another digital security available for investors on its digital asset exchange. The most recent security is a venture debt offering by Innoven Capital – a JV between Seviora (a Temasek subsidiary) and UOB. The $50 million fund combines a fixed return as… Read More

December 6, 2022 @ 4:29 pm By JD Alois  |  

Issuance, a platform that specializes in aiding issuers raising capital under Reg A+, has announced its expansion into Canada. According to a company statement, Issuance is now an “endorsed service-provider partner” of the Canadian Securities Exchange (CSE). The arrangement allows Issuance to offer preferred rates… Read More

December 6, 2022 @ 3:41 pm By JD Alois  |  

Galileo Financial Technologies, LLC, a company owned by SoFi (NASDAQ: SOFI), has announced a buy now, pay later (BNPL) solution, according to the company. Galileo said it will provide single use virtual cars that incorporate complete loan servicing. Galileo intends to make the BNPL service… Read More

December 6, 2022 @ 11:26 am By JD Alois  |  

Recently global investment platform OurCrowd announced that it had topped $2 billion in capital commitments on its platform. OurCrowd is based in Israel but caters to a global market of both investors and private firms in need of growth capital. When the milestone was announced,… Read More

December 6, 2022 @ 11:07 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has outlined new rules to stymie financial promotions that are misleading, illegal or unfair. Simultaneously, the FCA has kicked off a consultation to garner feedback on the new rules. The goal is to halt “rogue financial promotions.” Currently, any… Read More

December 6, 2022 @ 10:53 am By JD Alois  |  

Osome has raised $25 million in Series B funding from global investors, according to a company statement. Investors include Illuminate Financial, AFG Partners, and Winter Capital.  Osome raised $16 million in Series A funding in 2021. Osome is described as a “financial admin super-platform” designed… Read More

December 6, 2022 @ 10:19 am By JD Alois  |  

Former Commodities Futures Trading Commission (CFTC) Commissioner Brian Quintenz has joined a16z Crypto in a full-time role as its new Head of Policy. a16z Crypto is a leading VC operation investing in blockchain-based platforms, including Web3. While at the CFTC, Quintenz led the Commission’s Technology… Read More

December 6, 2022 @ 10:01 am By JD Alois  |  

Representative Maxine Waters, Chair of the House Committee on Financial Services, returned to Twitter to prod Sam Bankman-Fried to testify in front of a Committee hearing next week on the FTX bankruptcy. Earlier this month, Chair Waters invited Bankman-Fried to testify via Twitter. Bankman-Fried responded,… Read More