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Rearguard Action: Independent Community Bankers of America Supports Closure of Industrial Loan Charter “Loophole” to Eliminate “Shadow Banking”

The Independent Community Bankers of America (ICBA) has issued a statement of “strong support” regarding pending legislation targeting Industrial Loan Charters (ILC). An ILC is a regulated financial services charter that may be held by non-financial institutions. ILCs may hold FDIC insured deposits – a… Read More

CrowdStreet Raises $12 Million in Series C Funding: CEO Tore Steen Plans Thoughtful Expansion

CrowdStreet, a real estate crowdfunding platform, has raised $12 million in a Series C funding round from its “community of individual  investors and commercial real estate sponsors.” CrowdStreet leveraged its own platform to raise the growth capital. CrowdStreet also reported that it is on track… Read More

SEC and CFTC Charge Swiss-Based First Global Credit for Selling Unregistered Swaps for Bitcoins; Website Domain Seized by FBI

A Switzerland-based securities dealer called XBT Corp/First Global Credit has been charged and fined by the American SEC and CFTC for, “selling unregistered security-based swaps to U.S. investors using bitcoins and for failing to transact its swaps on a registered national exchange.” The company’s website has… Read More

Patch Crushes £500,000 Goal on Crowdcube. Now at £1.95 Million

With seven days left in its equity offering, Patch is crushing its goal on Crowdcube. Crush has raised just under £2 million on a goal of raising £500,000. The company is offering an 8.67% equity stake in the firm at a pre-money valuation of £20.55… Read More

Update: Anna Money Surpasses £3.5 Million in Funding Through Seedrs Round

Anna Money, a UK-based fintech that specializes in SME business banking, has successfully secured £3.5 million in funding through its equity crowdfunding campaign on Seedrs. The funding round was launched last month and quickly surpasses its initial £3 million funding target. Anna stands for Absolutely… Read More

G7: Cryptocurrencies Such as Libra Pose a Risk to the Global Financial System

The Group of 7 (G7), representing the 7 largest developed economies in the world, is preparing a report slamming Facebook’s Libra. The proposed stablecoin that aspires to be a non-sovereign global currency has been hammered since it was revealed earlier this year. Government officials from… Read More

Crowdfunded Electric Car Uniti Announces Pricing, Expects European Deliveries to Commence Mid 2020

Crowdfunded electric car Uniti has announced pricing for its initial e-vehicle – Uniti One. The Uniti One will be offered initially to buyers in northern Europe, with first deliveries planned in Sweden and the UK for mid-2020. Additional markets will be added progressively in time…. Read More

Wirecard Teams Up With SES-imagotag to Accelerate In-Store Mobile Payments Adoption

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Tuesday it has teamed up with SES-imagotag to accelerate in-store mobile payments adoption. Through the new collaboration, the two companies are developing a “pay to tag” solution connecting Wirecard’s mobile payment platform with all… Read More

Crypto Lender BlockFi Removes Minimums and Fees for Crypto Interest Account

Cryptoasset-to-USD lender BlockFi announced on Friday it has removed minimums and fees for its BlockFi Interest Account (BIA). According to BlockFi, BIA clients will no longer have to meet a minimum deposit amount in their Bitcoin, Ether, or GUSD balances in order to earn interest…. Read More

New York Regtech Trade Mission: UK Department of International Trade Seeks Applicants to Participate in Regtech Focused Trip to US

The Department for International Trade (DIT) is seeking applications from the UK Regtech sector to participate in a Regtech Mission to New York. The DIT Mission is scheduled to take place from November 13 to 15th. DIT states that the Mission offers UK firms the… Read More

Report: Fintech Ping An May Pursue Singapore Digital Bank License After Receipt of Hong Kong Virtual Bank Approval

Late last month, the Monetary Authority of Singapore (MAS) announced it has begun accepting applications for digital bank licenses. The new banking licenses are only for aspiring non-bank Fintechs. MAS leadership explained that virtual banks will help assure the banking sector remains resilient and competitive… Read More

Lendio Franchising Facilitates $50 Million to Small Businesses

Lendio Franchising, Lendio’s marketplace lending franchise program, announced on Tuesday it has facilitated $50 million in loans to over 1,800 small businesses around the U.S. According to Lendio, the  loans through the franchise provide a boost to small businesses in industries ranging from healthcare to… Read More

Plug and Play Announces New Partnership With Abu Dhabi Commercial Bank

Global innovation platform Plug and Play announced on Monday it has formed a new partnership with Abu Dhabi Commercial Bank (ADCB). ADCB will notably join Plug and Play’s global ecosystem, using the platform to support its comprehensive digital transformation strategy. While sharing more details about… Read More

Stashbee Closes Crowdfunding Round at £2.5 Million, Initially Raised £1.6 Million in Hours

Stashbee has closed its 2nd crowdfunding round at £2.5 million on Seedrs. The company offered equity in the firm at a pre-money valuation of £9 million. The company received the backing of 886 individual investors. Stashbee, an online sharing-economy platform for storage space, raised £1.6… Read More

Bitcoin Norway Shuts Down Due to Theft via SIM Swap Hack and “Sophisticated Spear-phishing Techniques”

Bitcoin Norway has shut down all operations according to its website and posts on Facebook. Bitcoin Norway is a cryptocurrency exchange that claims to have served over 25,000 Norwegians since 2013. Last week, via Twitter, the exchange said they are dealing with extraordinary problems: Hei… Read More

Fed Chair Powell Peppered with Questions on Facebook’s Libra at House Financial Services Committee Hearing

The House Financial Services Committee welcomed Fed Chair Jerome Powell today to share his perspective on the state of the US economy and his opinion on the effectiveness of monetary policy. While Powell’s prepared remarks kicked off a bit of a rally on Wall Street… Read More

UK Financial Conduct Authority Addresses Topic of Stablecoins Providing Insight into Regulatory Approach

In a speech presented today by Christopher Woolard, Executive Director of Strategy and Competition at the UK Financial Conduct Authority (FCA), the regulator addressed the hot topic of “stablecoins.” The speech was delivered at the annual Cambridge Centre for Alternative Finance conference which saw regulators… Read More

Klara Expansion: Announces Second UK Office in Central Manchester

Payment processing brand Klarna announced on Wednesday the expansion of its UK operations with a new office located in Manchester. According to Klarna, the new office will open in Summer 2019 and will be located at the Old Granada Studios, which is a payments and… Read More

Forthcoming European Alternative Finance Research Conference Issues Call for Papers

The 3rd European Alternative Finance Research Conference is scheduled to take place this October. In advance of the event, organizers have issued a call for academic papers on Fintech/alternative finance. The conference is organised by the European Centre for Alternative Finance (ECAF) based at Utrecht… Read More

London Tech on Track for Record Year of VC Investment

This is London Tech Week and the city is doing a bit of well-deserved chest pounding touting its innovation cred. In data compiled by London & Partners, the Mayor of London’s inward investment agency, venture capital investment into London is booming. In fact even while… Read More

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