August 10, 2018 @ 12:33 pm By JD Alois  |  

Shares in Overstock (NASDAQ:OSTK) moved higher today following a much anticipated Q2 earnings call yesterday after market close that provided not only operational guidance but added perspective on the emerging blockchain based segment of the business. In an extended call, Overstock founder Patrick Byrne shed… Read More

August 10, 2018 @ 11:17 am By JD Alois  |  

Templum Markets is now offering Aspen Coins – a tokenized security by Aspen Digital. According to Templum, each token represents a single share of common stock in the St. Regis Aspen Resort. Offered under Reg D 506c, the security exemption utilized by most issuers of… Read More

August 10, 2018 @ 9:19 am By JD Alois  |  

Zilliqa has landed former Head of Marketing APAC for Google Pay Yiling Ding as their new Chief Marketing Officer (CMO). Ding, who is said to be fluent in English, Japanese, and Chinese Mandarin, has spent the past four years with Google. During her stint with Google she… Read More

August 10, 2018 @ 8:39 am By JD Alois  |  

The World Bank is issuing a bond on blockchain. The first of its kind issuance is being orchestrated via the Commonwealth Bank of Australia (CBA) as sole arranger.  According to the World Bank, the security will be created and managed completely using distributed ledger technology… Read More

August 9, 2018 @ 5:52 pm By JD Alois  |  

Overstock (NASDAQ:OSTK) reported financial results for the quarter ended June 30, 2018 today. Top line numbers included $483.1 million in revenue a 12% increase versus same quarter last year. Gross profit increased by 9% to $91.7. Overall, performance came in as follows: Gross margin: 19.0% vs…. Read More

August 9, 2018 @ 4:26 pm By JD Alois  |  

tZero has announced a significant investment from GSR Capital. The VC has backed tZero with a term sheet to invest up to $270 million at a valuation of $1.5 billion post money. At the same time, tZero has shared that its just completed security token… Read More

August 9, 2018 @ 1:51 pm By JD Alois  |  

BitMEX (Bitcoin Mercantile Exchange), has announced two new crypto based trading products. ETHUSD perpetual swaps, and UPs and DOWNs, the company’s first call and put options. Just like more traditional securities  markets, derivative security products are quickly becoming ubiquitous. And why not? Derivatives can help with… Read More

August 9, 2018 @ 11:56 am By JD Alois  |  

Another day, another crypto hack. About two weeks ago, KICKICO revealed that 70 million KICK tokens had been pilfered by a hacker at a value of around $7.7 million – peanuts in the ICO hacking space. On July 26th, KICKICO said the security breach had… Read More

August 9, 2018 @ 11:12 am By JD Alois  |  

Coinbase has announced that trading limits have been boosted. Starting immediately, users may trade cryptocurrency immediately after purchase without a necessary five day waiting period for funds to clear. “Most” users will see their daily trading limits increased to $25,000 – previously this was a… Read More

August 9, 2018 @ 12:11 am By JD Alois  |  

  Kowala, a stablecoin protocol that is said to maintain price-pegs to fiat currencies by robotically minting and burning coin supply according to demand, announced that their dollar-tied “kUSD”, is the first stablecoin to earn public platform support from Ledger – hardware wallet. Crypto holders… Read More

August 8, 2018 @ 8:52 pm By JD Alois  |  

There has been an ongoing debate regarding the benefits of marketplace lending when it comes to consumer loans.  A Federal Reserve study hammered peer to peer lending (ie marketplace lending) in late 2017 only to see the study pulled as industry advocates highlighted shortcomings in… Read More

August 8, 2018 @ 4:24 pm By JD Alois  |  

ORCA Alliance is reporting that its initial coin offering (ICO) easily raised its $1.5 million target in just 50 hours. The Latvia based Fintech is building an “Open Banking” platform seeks to enable digital banking that is crypto friendly. In June, Orca reported it took… Read More

August 8, 2018 @ 1:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) pumped the brakes once again this week on firms offering Bitcoin based ETF. While these exchange traded funds have the potential to expand a far wider audience to the digital asset class, so far regulators have been hesitant to… Read More

August 8, 2018 @ 11:13 am By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) will be holding Innovation Office Hours, September 25-27, 2018, in New York. The open office hours are timely as the OCC just recently announced it will start accepting Fintech Charters for special purpose national banks. The… Read More

August 8, 2018 @ 8:00 am By JD Alois  |  

  FINRA (Financial Industry Regulatory Authority) has issued a consultation on Financial Technology or Fintech and the Broker Dealer industry. The Special Notice was published at the end of July and is seeking comments until October 12, 2018. FINRA currently has over 3700 member firms… Read More

August 7, 2018 @ 4:22 pm By JD Alois  |  

LendingClub (NYSE:LC) is out with numbers for the second quarter of 2018 ending in June. According to a release, LendingClub delivered the following results: Record net revenue of $177.0 million, up 27% year-over-year Record originations of $2.8 billion, up 31% year-over-year Improved Contribution Margin to… Read More

August 7, 2018 @ 3:44 pm By JD Alois  |  

Transferwise, a stealth bank in the making, has added US Bank information to its platform thus mirroring what is already available for their European, UK and Australian users. If you are interested, creation of a borderless account for existing users takes less than a minute…. Read More

August 7, 2018 @ 1:30 pm By JD Alois  |  

Klook, short for “Keep Looking,” has raised $200 million in a Series D funding round led by big name global VCs. Klook is a travel activity and services booking firm that is reportedly on track to generate over $1 billion in bookings during 2018. The… Read More

August 7, 2018 @ 11:52 am By JD Alois  |  

  The US Department of Treasury’s report on Fintech has been welcomed by many engaged in the sector of innovative finance. The document published outlined a litany of changes necessary to further the goal of modernizing financial services – most importantly is the existing regulatory… Read More

August 7, 2018 @ 10:09 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US,… Read More