November 21, 2022 @ 9:34 pm By Omar Faridi  |  

StellarFi, a financial technology company on a mission to disrupt the U.S. poverty cycle by opening access to credit, announced it has “exceeded $1 million in annual recurring revenue.” The company “emerged from stealth on June 28 and closed its oversubscribed $7 million initial funding… Read More

November 21, 2022 @ 9:32 pm By Omar Faridi  |  

Financial wellbeing Fintech Wagestream, with research and analysis from Good Shepherd Australia New Zealand, has launched the inaugural Australian State of Financial Wellbeing Report in a bid “to identify how employers can better alleviate financial stress in the workplace for struggling employees.” The report is… Read More

November 21, 2022 @ 6:38 pm By Omar Faridi  |  

Fortis, which claims to be the leader in embedded payments for software providers, announced the company is “expanding its suite of technology solutions by acquiring Payment Logistics, a payment technology company based in La Jolla, California.” Payment Logistics “not only brings dozens of embedded payments… Read More

November 21, 2022 @ 6:12 pm By JD Alois  |  

SoFi (NYSE:SOFI) is the latest Fintech – crypto-related firm to give the all-clear sign regarding the crypto contagion created by Sam Bankman-Fried and the bankruptcy of FTX. In a series of Tweets, SoFi stated: “We have no direct exposure to FTX, FTT token, Alameda Research,… Read More

November 21, 2022 @ 5:28 pm By JD Alois  |  

Last week, the US Department of Treasury published a report entitled Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets. The report was delivered to the White House Competition Council. The 128-page document informed the White House that Fintech firms… Read More

November 21, 2022 @ 4:52 pm By Omar Faridi  |  

MakerDAO, which claims to the “longest-standing” decentralized finance (DeFi) lending protocol and creator of DAI, the original, decentralized stablecoin, announces the launch of Maker Teleport, a multichain infrastructure for teleporting DAI across different blockchain networks. Maker Teleport is now “available on the smart contract chains… Read More

November 21, 2022 @ 4:46 pm By JD Alois  |  

Grayscale, part of the Digital Currency Group (DCG), published a blog post in recent days telling users that “all digital assets are safe and secure.” Grayscale is the issuer of multiple digital asset-based funds like the Grayscale Bitcoin Trust (OTCQX:GBTC), which is traded on OTC… Read More

November 21, 2022 @ 4:18 pm By Omar Faridi  |  

THORChain, the non-custodial decentralized exchange (DEX) that opens access to native and cross-chain liquidity, has launched its single-sided staking capabilities, “allowing community members to take advantage of decentralized finance (DeFi) while maintaining full ownership of their native Bitcoin (BTC) or other assets.” For the “first… Read More

November 21, 2022 @ 12:43 pm By JD Alois  |  

  QED Investors is probably the most prominent and successful Fintech-focused venture capital firm. Holding dozens of well-known names in their portfolio – including multiple unicorns, QED is hyper-engaged with the  Fintech ecosystem around the world. Recently, QED distributed a couple of comments on the… Read More

November 21, 2022 @ 11:34 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued a statement addressing the bankruptcy of FTX, saying it would like to address some questions and “misconceptions.” Singapore is recognized as the top Fintech hub in Asia and is generally viewed as digital asset friendly. That being… Read More

November 21, 2022 @ 11:20 am By JD Alois  |  

The Canadian Securities Administrators (CSA) has issued a warning on trading crypto assets as they may not be suitable for some investors, “in particular retail investors.” The CSA noted that crypto tends to be a highly volatile asset. The CSA also cautioned that there are… Read More

November 21, 2022 @ 11:10 am By JD Alois  |  

Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a publicly listed VC firm that backs early stage digital firms, has published a 6 month update on performance, ending September 30, 2022. Molten said that its gross portfolio value has declined to £1,450 million versus March at… Read More

November 21, 2022 @ 10:06 am By JD Alois  |  

CYBAVO, a Taiwan-based “infrastructure-as-a-service platform” enabling digital asset custody tech and security services to firms like cryptocurrency exchanges, NFT marketplaces, cryptocurrency wallet providers, and Fintech service providers, has been acquired by Circle. The purchase was completed during Q3 2022 but was previously announced this past… Read More

November 21, 2022 @ 8:38 am By Omar Faridi  |  

Dreams AB, the financial wellbeing platform and “leader” in engagement banking solutions, announces the establishment of a new entity, Dreams Technology, “reflecting the company’s ongoing expansion into the B2B space.” Having initially launched as a B2C money-saving app in the Nordics in 2016 – where… Read More

November 21, 2022 @ 8:32 am By Omar Faridi  |  

Accounting firm KPMG has signed off that Bitpanda’s funds “exceed customer holdings following a special review held in light of the recent FTX collapse.” Bitpanda is in active exchange with the Austrian Financial Market Authority (FMA), which regularly “audits the company.” However, this “extraordinary,” additional… Read More

November 21, 2022 @ 8:29 am By Omar Faridi  |  

The Abu Dhabi Investment Office (ADIO) Innovation Program is partnering with Fintech company Liquidity Group, the “first” Israeli company “to join the AED 2 billion (USD 545 million) program.” The partnership will “support Liquidity Group’s establishment of an R&D center in Abu Dhabi to develop… Read More

November 20, 2022 @ 11:07 pm By Omar Faridi  |  

Amidst recent escalating concerns over digital asset security, global blockchain solutions provider ChainUp Group announced that it is “utilizing the multi-party computation (MPC) technology as part of a multi-layered security architecture to ensure the highest security standards of its digital asset custody solutions.” The multi-layered… Read More

November 20, 2022 @ 10:50 pm By Omar Faridi  |  

Xeni’s XeniPay solution launched recently on the Hedera Mainnet. XeniPay is designed “to help travel inventory consolidators, service providers, and online travel agencies reduce accounting, reconciliation, and settlement costs for B2B transactions.” Today, the travel industry is “plagued by a convoluted settlement process for B2B… Read More

November 20, 2022 @ 9:37 pm By Omar Faridi  |  

LMAX Group, the operator of institutional exchanges for trading FX and digital assets, is expanding its global technology infrastructure in Asia Pacific “following the launch of a matching engine in the Equinix IBX Data Centre in Singapore (SG1).” SG1, which went live earlier this year,… Read More

November 20, 2022 @ 9:32 pm By Omar Faridi  |  

Wells Fargo & Company (NYSE: WFC) and HSBC Bank plc announced that the blockchain-based solution they are using for bilateral FX settlements is “expanding to include the offshore yuan (CNH).” The offshore yuan “marks the fifth currency to be settled between the two banks using… Read More