Uncategorized

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 25, 2022 @ 9:25 am By JD Alois  |  

QuickSwap, a decentralized crypto exchange and automated market maker (AMM), has shut down QuickSwap Lend following an exploit. According to a Tweet by the platform, approximately $220,000 was pilfered in a “flash loan” due to a vulnerability. ⚠️QuickSwap Lend is closing⚠️ 🔗$220k was exploited in… Read More

October 22, 2022 @ 4:05 pm By JD Alois  |  

Senator Bill Hagerty’s Digital Asset Clarity Act of 2022 aims to determine when a digital asset is a security and when it may be something else. As was reported earlier this month, the legislation strives to provide digital asset exchanges with a safe harbor from… Read More

October 13, 2022 @ 10:24 pm By JD Alois  |  

finbots.ai, an artificial intelligence (AI) firm for credit modeling, has signed an agreement to partner with Proptech Tanaku, expanding their services into Indonesia. According to a company statement, finbots.ai platform will help Tanaku quickly create a high-quality customer risk assessment model to streamline pre-mortgage financing… Read More

October 10, 2022 @ 11:13 am By JD Alois  |  

Among other policy initiatives aiming to boost the UK’s flagging economy, SEIS or Seed Enterprise Investment Scheme – a pro-innovation tax exemption received an adjustment as outlined in the Chancellor of the Exchequer’s “mini-budget” revealed last month. According to the document: “From April 2023, companies… Read More

October 10, 2022 @ 8:54 am By JD Alois  |  

Recharge.com, a European payments company, has announced the launch of a global marketplace for people to purchase branded gift cards in a push to become the leading branded payments company in the world. Recharge.com was founded in 2010 and is based in Amsterdam. Recharge highlights… Read More

September 26, 2022 @ 8:21 am By Omar Faridi  |  

Funding Circle (LSE: FCH), which claims to be the UK’s largest small business lending platform, and Bayview Asset Management, an investment management firm headquartered in Coral Gables, Florida, announced a lending partnership that is “targeting the provision of £700m funding to small businesses over an 18… Read More

September 20, 2022 @ 5:17 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) has announced a new Statement of Policy regarding peer-to-peer lending (P2P Lending) adopted during its annual Fall Meeting in Nashville. P2P lending is the act of individual investors providing capital to a borrower – either for a single… Read More

September 15, 2022 @ 7:58 pm By JD Alois  |  

Crypto exchange Bitfinex is out with a note that it will support the Ethereum fork that will continue the Proof of Work (PoW) process. This follows the successful Merge that was completed today migrating Ethereum from Proof of Work to Proof of Stake (PoS). Multiple… Read More

September 8, 2022 @ 10:06 am By JD Alois  |  

Regtech SteelEye, a London-based firm, has raised a $21 million Series B round led by Ten Coves Capital, according to the firm. Other investors in the round include; Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and apparently “a large family office.” In total,… Read More

September 7, 2022 @ 5:09 pm By JD Alois  |  

PayPal (NASDAQ:PYPL) and Intuit (NASDAQ:INTU) are the newest members of the Financial Technology Association (FTA) according to a statement by the group. The two big tech firms join a growing roster of Fintechs aiming to have their voices heard inside the beltway. Names like Block,… Read More

September 7, 2022 @ 4:38 pm By JD Alois  |  

Klavi, a Brazilian Fintech startup, has raised $15 million in a Series A funding round. The funding was led by venture capital funds Iporanga Ventures and Parallax Ventures and included GSR Ventures. Klavi said the banking infrastructure provider CIP S.A. and Vivo Ventures, Vivo’s Corporate… Read More

September 2, 2022 @ 10:15 am By JD Alois  |  

BlackFog, a global cyber security firm, has published a report on global ransomware that indicates August was the second-highest month of all time for cyber ransom-driven attacks. The report states: “In August, we recorded 39 ransomware attacks, the second highest month we’ve ever recorded. Healthcare… Read More

August 29, 2022 @ 10:37 am By JD Alois  |  

Investor’s Business Daily and MarketWatch, two financial publications, have published a list of the most trusted financial companies without a single Fintech being recognized. According to IBD, Marketwatch, the best of the lot went it comes to consumer trust are as follows: USAA: Auto Insurance… Read More

August 23, 2022 @ 3:32 pm By JD Alois  |  

Digital banks and neobanks are a fairly recent evolution in the financial services world. Incumbent banking has been around for decades, if not hundreds of years. Old banks taking deposits for safekeeping, paying little in return (or charging fees), packaged with mediocre services, and queues… Read More

August 12, 2022 @ 7:16 pm By JD Alois  |  

Earlier this week, the US Department of Treasury, Office of Foreign Assets Control (OFAC), sanctioned crypto mixer Tornado Cash. OFAC claims that Tornado has been utilized by North Korea and its “malicious cyber activities and money-laundering of stolen virtual currency.” Interestingly, Tornado received some support… Read More

August 5, 2022 @ 9:55 am By JD Alois  |  

Earlier this week, it was reported that a bipartisan group of US Senators had developed legislation aimed at providing greater regulatory clarity regarding crypto in the US. Senators from the Senate Agriculture Committee joined to craft a bill that gave the Commodity Futures Trading Commission… Read More

July 28, 2022 @ 9:30 am By JD Alois  |  

Crypto exchange Okcoin is reporting a 125% increase in institutional trading from Q1 to Q2 2022. Okcoin said this is the fourth consecutive quarter that institutional transactions more than doubled from the prior quarter. Institutional customers jumped by 13% in Q2 and 28% for the… Read More

July 6, 2022 @ 9:20 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has appointed six directors as it “expands its headcount to meet a growing remit and to achieve its ambitious strategy, which launched in April.” The appointments announced recently, which fill a mix of new and existing roles, “draw on… Read More

July 6, 2022 @ 2:39 pm By JD Alois  |  

eToro, a modern spin on investing and trading that merges both digital assets and traditional securities, has axed its SPAC deal, according to a statement issued by the company. At the same time, Calculistech is reporting that their headcount is being slashed by 100 employees… Read More