March 13, 2020 @ 12:55 pm By JD Alois  |  

Innovate Finance has decided to cancel its annual event, IFGS, the flagship event of UK Fintech Week. IFGS was scheduled to take place on April 20-21 at Guildhall, London. Innovate Finance joins a growing list of events and conferences that have been canceled or postponed due… Read More

March 13, 2020 @ 12:36 pm By JD Alois  |  

Former SEC Commissioner Paul Atkins and Colleen Sullivan, CEO of CMT Digital, have joined the Board of Advisors of the Chamber of Digital Commerce. Atkins, who is currently CEO of Patomak Global Partners, issued the following statement on the news: “I am pleased to join… Read More

March 13, 2020 @ 10:03 am By JD Alois  |  

The German Federal Financial Supervisory Authority or BaFin, has approved the first cross-border security token offering (STO) for ParkinGO, according to the company. ParkinGO will be issuing digital securities on the token issuance platform STOKR based in Luxembourg. Retail investors in Germany, along with investors… Read More

March 13, 2020 @ 8:40 am By JD Alois  |  

Overstock.com (NASDAQ:OSTK), an eCommerce site and blockchain company is out with its Q4 earnings report. During Q4 net revenue declined from the same period last year by 18% to $370.9 million. Overall, Overstock generated as loss of $27 million. Overstock CEO Jonathan Johnson commented on… Read More

March 13, 2020 @ 8:20 am By JD Alois  |  

Starling Bank, a digital-only bank, has been voted ‘Best British Bank’ for a third consecutive year at the British Bank Awards. Other Fintechs were on the list too. Revolut, another digital bank, was recognized as the “Innovation of the Year.” Monzo was noted as offering… Read More

March 12, 2020 @ 7:49 pm By JD Alois  |  

Representative Patrick McHenry distributed multiple legislative proposals today designed to mitigate the impact of the Coronavirus pandemic. While the inevitable outcome is unknown, what is clear is that the economy will take a hit – most likely impacting small businesses disproportionately. McHenry, the Ranking Member… Read More

March 12, 2020 @ 7:13 pm By JD Alois  |  

Bitcoin, frequently labeled as an uncorrelated asset providing a safe harbor when more traditional investments, like stocks, have fallen down, has been crushed this week. Similar to just about everything else. Following a recent rise to over $1o,000 per BTC, the world’s most popular crypto… Read More

March 12, 2020 @ 5:06 pm By JD Alois  |  

Representative Patrick McHenry, Ranking Member on the House Financial Services Committee, has proposed legislation to crowdfund a vaccine for the Coronavirus entitled “Crowdfunding to Combat the Coronavirus Act.” The bill creates a $1 billion prize for anyone that develops a vaccine for COVID-19 that is… Read More

March 12, 2020 @ 11:41 am By JD Alois  |  

The Autorité des Marchés Financiers, the main securities regulator in France, has published a legal analysis of security tokens. France is already known for its initial coin offering (ICO) friendly ecosystem where utility tokens (not securities) may be issued and traded in a compliant environment…. Read More

March 12, 2020 @ 8:16 am By JD Alois  |  

Calling it a turning point for the blockchain sector, Figure has completed the first asset-backed securitization using blockchain. The transaction reportedly saved over 100 basis points thus representing a dramatic cost reduction. In a world populated with thousands of blockchain-focused firms, Figure represents a prominent… Read More

March 12, 2020 @ 7:36 am By JD Alois  |  

Luxembourg based Fintech Tokeny Solutions has partnered with Cynopsis to provide a streamlined compliance solution to its customers. Cynopsis Solutions was established in Singapore in 2014 and offers services designed to automate KYC processes. It has operations in Singapore, UK, Taiwan, and Vietnam. Cynopsis Solutions… Read More

March 11, 2020 @ 11:21 pm By JD Alois  |  

Phemex, a crypto derivatives trading platform led by former Morgan Stanley executives, has raised $3.5 million in a funding round led by NGC Ventures. In a release, Phemex said it will utilize the additional capital for global expansion into Japan, Korea and Russie as well… Read More

March 11, 2020 @ 9:03 pm By JD Alois  |  

In 2016, Friends & Brgrs, a restaurant group based in Finland, raised capital on Invesdor. The company sought up to €980,000 at a pre-money valuation of €8.82 million. According to the offering page, 560 investors purchased shares in the small company at €24.50 each. The… Read More

March 11, 2020 @ 8:41 pm By JD Alois  |  

TrueLayer and Stake have formed a partnership to speed up the transfer of money in the brokerage market.  Customers of Stake, a brokerage app, can now use “Payments Initiation” to transfer money to quickly make investments. The arrangement is said to be one of the… Read More

March 11, 2020 @ 7:06 pm By JD Alois  |  

The CME Group will close its Chicago trading floor as of the close of business Friday, March 13, 2020. Similar to many other companies, CME Group is attempting to reduce the risk of Coronavirus exposure. CME Group was quick to state that no Coronavirus cases… Read More

March 11, 2020 @ 6:19 pm By JD Alois  |  

Vital Chain, a blockchain-based platform that digitizes birth and death certificates, has announced a partnership with the MetroHealth System. Vital Chain is majority-owned by Ownum. MetroHealth is a sizeable hospital group and public health system supported, in part, by public funds. Based in Cleveland, Ohio,… Read More

March 11, 2020 @ 3:48 pm By JD Alois  |  

Earlier today, the Chancellor of the Exchequer Rishi Sunak delivered a speech outlining the UK Budget for 2020. A portion of the speech outlined the Government’s policy moves to mitigate the impact of the Coronavirus – an unexpected exogenous shock to the economy that could… Read More

March 11, 2020 @ 2:52 pm By JD Alois  |  

Chancellor of the Exchequer Rishi Sunak delivered the annual budget today in a speech at the House of Commons. Sunak only recently stepped into the key government role this past February, inheriting an exceptionally challenging task in a world where the Coronavirus, or Covid-19, has… Read More

March 11, 2020 @ 11:58 am By JD Alois  |  

Earlier this year, to Estonia-based peer to peer lending platforms, Envestio and Kuetzal, collapsed leaving investors holding empty promises and possibly a complete loss. At the end of January, the Estonian Police and Border Guard posted a notice asking what may end up being a… Read More

March 11, 2020 @ 9:17 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted an “Operating Status” notification on its website indicating that much of its DC staff have been asked to work from home during the Coronavirus outbreak. Recently, the Commission has canceled multiple meetings, according to its event page…. Read More