March 15, 2023 @ 8:45 am By Omar Faridi  |  

Binance now again faces being pushed out of the larger financial services sector after the crypto exchange confirmed that it was being told to suspend deposits and withdrawals made in pound sterling (GBP). The digital currency exchange, which has been facing increasing regulatory pressure, stated… Read More

March 15, 2023 @ 7:17 am By Omar Faridi  |  

A Fintech firm’s Chief Executive Officer is reportedly attempting to secure over $1 billion in order to fund bridge loans for startups that have been affected by the spectacular collapse of Silicon Valley Bank (SVB). Fintech Unicorn Brex CEO Henrique Dubugras recently revealed that he’s… Read More

March 14, 2023 @ 11:50 pm By Omar Faridi  |  

C2FO, the world’s on-demand working capital platform, and the Schultz Family Foundation, founded by Sheri Schultz and Starbucks CEO Howard Schultz, announced a new initiative designed “to provide access to $100 million in working capital for small and diverse businesses.” Leveraging unique data from the… Read More

March 14, 2023 @ 10:58 pm By Omar Faridi  |  

Qwikcilver Solutions in Australia, a wholly-owned subsidiary of Pine Labs Limited, and a pioneer in SaaS based end-to-end gift card processing platform has partnered with Woolworths Group’s payments entity Wpay, “to extend their gift card processing solutions & services in the Australia & New Zealand… Read More

March 14, 2023 @ 10:53 pm By Omar Faridi  |  

Zad is reportedly the “first-of-its-kind digital investment platform launched in Kuwait by Securities House, “offering end-users access to trade over 4,000 stocks and ETFs in full compliance with Islamic Shariah principles.” As noted in a blog post, Zad is “the brainchild of the fintech Securities… Read More

March 14, 2023 @ 10:49 pm By Omar Faridi  |  

Astra Tech’s PayBy, a Central Bank-UAE licensed Fintech offering a variety of financial technology services, has achieved a significant milestone in the MENA region fintech space by becoming one of the first fintech player “to obtain a Mastercard (NYSE: MA) principal membership license.” This achievement… Read More

March 14, 2023 @ 9:37 pm By Omar Faridi  |  

ComplyAdvantage, the fraud and financial crime detection firm, named Jim Anning as the company’s Chief Data Officer as part of its commitment to innovation in anti-money laundering / countering financial terrorism (AML/CFT) services. The newly created role on the Executive Leadership Team “reflects the centrality… Read More

March 14, 2023 @ 5:55 pm By JD Alois  |  

Prior to the US government’s decision to backstop all deposits, under the management of the Federal Deposit Insurance Corporation (FDIC), bank accounts were ONLY insured up to$250,000. While this amount has not been much of a problem in the past, last week, the world changed,… Read More

March 14, 2023 @ 5:16 pm By Omar Faridi  |  

The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services, announced that it has launched its new LIBOR Benchmark Replacement Index solution “to support the industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) as… Read More

March 14, 2023 @ 5:01 pm By JD Alois  |  

Tasneem Dohadwala, Founding Partner of VC Excelstar Ventures, has shared her thoughts on the demise of several banks and the federal government’s decision to guarantee all deposits. Some observers have criticized the “government bailout” while others have noted that if the Feds had not taken… Read More

March 14, 2023 @ 4:08 pm By Omar Faridi  |  

Tallarium, providers of unique trade analytics for price discovery in off-exchange energy markets, announces that it has secured additional investment from XTX Ventures, the venture capital arm of leading algorithmic trading company XTX Markets, and Reciprocal, a venture capital firm. The companies have “provided a… Read More

March 14, 2023 @ 4:07 pm By Omar Faridi  |  

Bloxmith, the “player-first” Web3 gaming studio, announced that the open beta for Raiders Rumble, its 1v1 squad battler game for mobile powered by the Flow blockchain, is now available for download on Google Play and Apple App Store. Raiders Rumble challenges players “to apply fast-paced… Read More

March 14, 2023 @ 4:03 pm By Omar Faridi  |  

MVGX Holdings, a Singapore-based FinTech company, providing end-to-end Carbon Software-as-a-Service solutions, announced that it has appointed Meyer “Sandy” Frucher as its Vice Chairman. In his new role, Sandy will be “responsible for guiding the company toward establishing an interconnected global carbon infrastructure network with national… Read More

March 14, 2023 @ 12:46 pm By Omar Faridi  |  

VMware recently announced VMware Cloud on AWS is now available in Bahrain. The service, which launched on February 28 in the AWS Middle East (Bahrain) region, will help customers in Bahrain “move their workloads across VMware cloud environments with optimized access to AWS services, supporting… Read More

March 14, 2023 @ 11:41 am By JD Alois  |  

The US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have launched investigations into Silicon Valley Bank’s (SVB) failure. Last Friday, federal regulators took over the bank as customers rushed to pull money out of the bank due to concerns about its… Read More

March 14, 2023 @ 11:15 am By Omar Faridi  |  

SEB is entering a strategic partnership with the insurance provider Hedvig, a Nordic insurtech-company within property insurance for private individuals. As part of this, SEB Venture Capital is “making a strategic investment in Hedvig in conjunction with a financing round led by Adelis Equity.” Jonas… Read More

March 14, 2023 @ 11:08 am By JD Alois  |  

Moody’s Investors Service has downgraded the entire US banking sector following the events in the past week. Moody’s said it has changed its outlook from stable to negative. This is a reflection of the events impacting Silicon Valley Bank (SVB), Signature Bank (SBNY), and Silvergate… Read More

March 14, 2023 @ 10:24 am By Omar Faridi  |  

Eurex Clearing, which claims to be one of the leading central counterparties globally, announces the introduction of its new ESG Clearing Compass on 3 April 2023. It will “include two services, the ESG Portfolio Assessment and the ESG Visibility Hub.” With these new services, Deutsche… Read More

March 14, 2023 @ 10:08 am By JD Alois  |  

Last month, CI hosted a webinar to review the securities crowdfunding market of 2022 as well as expectations for 2023. While the consensus of the group was that online capital formation softened in the waning months of 2022, panelists participating in the webinar were more… Read More

March 14, 2023 @ 9:41 am By JD Alois  |  

Meta’s (NASDAQ:META) commerce and Fintech lead Stephane Kasriel tweeted yesterday that the social platform is exiting the non fungible token (NFT) market, at least for now. Kasriel said they are refocusing efforts on supporting creators, people and businesses. This includes “messaging and monetization opps for… Read More