October 28, 2022 @ 11:34 am By JD Alois  |  

Mercuryo, a payments Fintech, is boosting its crypto services by integrating with Fireblocks. Fireblocks is a leading digital asset infrastructure firm that powers the transfer, storing, and issuing of digital assets. Serving over 1500 financial institutions, Fireblocks enables exchanges, lending desks, custodians, banks, trading desks,… Read More

October 28, 2022 @ 11:21 am By JD Alois  |  

The UK Parliament has moved on a new Financial Services and Markets Bill that incorporates language aiming to provide a path to regulated crypto-assets (digital assets). The comprehensive bill, which is 335 pages long, addresses “Digital Settlement Assets” which may, or may not be via… Read More

October 28, 2022 @ 10:06 am By JD Alois  |  

Yesterday it was announced that StartEngine had entered into an agreement to purchase SeedInvest. Following a typical regulatory review, StartEngine will soon own substantially all of SeedInvest’s assets, including its database of registered investors. SeedInvest is currently owned by Circle, which purchased the company in… Read More

October 27, 2022 @ 4:22 pm By JD Alois  |  

As was reported earlier today, StartEngine has acquired SeedInvest, thus combining two of the largest US-based online investment marketplaces. Both platforms offer securities under Reg CF, Reg A+, and Reg D (506c). Both platforms hold a broker-dealer license, and both have been approved to operate… Read More

October 27, 2022 @ 3:51 pm By JD Alois  |  

The Autorité des Marchés Financiers (AMF) has appointed Marie-Anne Barbat-Layani as its new Chair, replacing Robert Ophèle, whose term of office came to an end on July 31, 2022. In the interim, Jean-Claude Hassan has been acting Chair. Barbat-Layani is a graduate of the Paris… Read More

October 27, 2022 @ 12:52 pm By JD Alois  |  

After claiming it was a mistake, PayPal (NASDAQ:PYPL) has re-animated its $2500 penalty for each violation of its Acceptable Use Policy. Once again, Twitter users slammed the overreach of the financial services firm. PayPal added the $2500 fine for misinformation back to their terms, after… Read More

October 27, 2022 @ 12:28 pm By JD Alois  |  

A Zopa-led coalition of Fintechs has joined to “combat the UK cost-of-living crisis.” Announced today, ten new members have been added to The 2025 Fintech Pledge or Pledge2025.org. The pledge, launched in September 2022, aims to drive 10 million consumer actions by 2025 that build… Read More

October 27, 2022 @ 12:20 pm By JD Alois  |  

Fitch Ratings says Fintechs and other non-bank financial institutions (NBFIs) are being blocked from receiving bank charters by public officials, adding that these digital firms are at a competitive disadvantage because of this reality. Fitch notes that no industrial loan company (ILC) charters have been… Read More

October 27, 2022 @ 11:58 am By JD Alois  |  

Upgrade, an online lender, card provider, and neobank, has announced a high-yield savings account that currently generates 3.5% APY labeled “Premier Savings.” The savings account must hold a minimum balance of $1000 and is available in all 50 states While interest rates have risen dramatically,… Read More

October 27, 2022 @ 9:36 am By JD Alois  |  

In a seismic shift of consolidation, StartEngine has announced the acquisition of SeedInvest. While exact terms were not immediately available, StartEngine stated that Circle (owner of SeedInvest) will become a minority shareholder of StartEngine. StartEngine is one of the largest investment crowdfunding platforms in the… Read More

October 27, 2022 @ 9:10 am By JD Alois  |  

-Retail Investors May Be Banned from Using Leverage in Crypto Trading -Banks Allowed to Issue Stablecoins The Monetary Authority of Singapore (MAS) has proposed new initiatives aimed at mitigating risk to consumers in regard to crypto trading. At the same time, MAS has proposed new… Read More

October 27, 2022 @ 8:53 am By JD Alois  |  

The British Business Bank has posted an updated list that includes new companies backed by the Future Fund, one of several schemes enacted to provide assistance to firms harmed by the COVID-19 health crisis. Created in 2014, The British Business Bank is the UK government’s… Read More

October 27, 2022 @ 4:00 am By JD Alois  |  

Digital bank Starling Bank will be the official principal partner for Southampton FC Women for the 2022-2023 season. According to a note from the bank, starting Sunday, October 30th, Starling will sponsor the team with a match against Sunderland AFC Ladies. Starling’s logo will be… Read More

October 26, 2022 @ 6:15 pm By JD Alois  |  

President Joe Biden issued a statement today declaring “junk fees” wrong and illegal. In what may be an electioneering move, the President declared: “… my administration is also making clear: Surprise overdraft fees are illegal.  Listen to how those fees work.  And some of —… Read More

October 26, 2022 @ 5:59 pm By JD Alois  |  

LendingClub (NYSE: LC), one of the few federally chartered digital banks, has reported Q3 2022 earnings. The Fintech states that total net revenue during the quarter came in at $304.9 million, growing by 24% year over year, driven by growth in net interest income. Alongside… Read More

October 26, 2022 @ 4:16 pm By JD Alois  |  

The lines continue to blur between more traditional Fintechs and digital asset platforms. Today, Marqeta (NASDAQ: MQ) has announced a partnership with Blockchain.com to provide a Visa card that now claims 50K+ sign-ups at launch. The new card, first available to US customers, will be fee-free… Read More

October 26, 2022 @ 3:43 pm By JD Alois  |  

Representatives Patrick McHenry and Bill Huizenga have sent a letter to Representative Maxine Waters asking the Chair of the House Financial Services Committee to convene a hearing in November with SEC Chair Gary Gensler. McHenry is the Ranking Republican on the House Financial Services Committee… Read More

October 26, 2022 @ 11:30 am By JD Alois  |  

Zenus Bank, a digital-only bank that is regulated in Puerto Rico, is on a mission to provide access to US banking accounts to individuals all over the world. To further this ambition, Zenus has partnered with Finxact, part of Fiserv, to leverage its core banking… Read More

October 26, 2022 @ 11:09 am By JD Alois  |  

QED Investors founder and Managing Partner Nigel Morris has distributed an email commenting on the current economic environment. QED is one of the top Fintech VCs in the world, having backed dozens of successful firms both inside the US and globally. In his email, Morris… Read More

October 26, 2022 @ 9:00 am By JD Alois  |  

Prometheum Ember ATS has announced a FINRA and SEC-regulated trading platform that will aim to provide liquidity for “digital asset securities.” Prometheum has received approval to operate an ATS or Alternative Trading System. Before operating an ATS, a platform must be an approved as a… Read More