May 21, 2024 @ 8:42 am By Omar Faridi  |  

The number of growing UK sectors remained resilient in April, despite cost pressures spreading across the economy, according to the latest Lloyds Bank UK Sector Tracker. In April, eight of the 14 UK sectors monitored “by the Tracker saw output growth – one fewer than… Read More

May 21, 2024 @ 8:41 am By Omar Faridi  |  

OKX are pleased to announce that they have invested in Bitlayer, which is describe as the first Bitcoin security-equivalent Layer 2 based on BitVM. Bitlayer aims to scale the Bitcoin network’s transaction capability. Advocating for the Taproot and BitVM technologies, Bitlayer has “adopted the Discreet… Read More

May 21, 2024 @ 8:40 am By Michael Wong  |  

Osome, a Singapore-based financial administration platform catering to founders and small and medium-sized businesses (SMBs), has raised over $17 million in its Series B funding round which was a combination of equity and debt financing. The round saw participation from both new and existing investors…. Read More

May 21, 2024 @ 8:38 am By Omar Faridi  |  

Bank of Ireland is warning consumers about a new wave of purchase scams which is luring consumers to make payments for goods and services through an advertisement online, which then transpires to be fake. In the last year, there has been “a 32% increase in… Read More

May 21, 2024 @ 8:37 am By Omar Faridi  |  

The Digital Identity Regulation has reportedly entered into force. This means that the solution will become available by 2026. A digital ID and personal digital wallet for EU citizens, residents and businesses should help with enabling more frictionless experiences in an online environment. As noted… Read More

May 21, 2024 @ 3:12 am By Omar Faridi  |  

Anchorage Digital Singapore is pleased to be the “first” crypto custodian to announce compliance with Singapore digital asset custody regulation by receiving an exemption in respect to its digital payment token (DPT) custody service from the Monetary Authority of Singapore (MAS). The exemption as set… Read More

May 20, 2024 @ 11:45 pm By Omar Faridi  |  

Talos, the provider of digital asset trading technology for institutions, and One Trading, a crypto trading venue headquartered and regulated in the European Union, announced an integration designed to expand liquidity access for institutions. As part of the collaboration, One Trading joins the Talos network… Read More

May 20, 2024 @ 11:37 pm By Omar Faridi  |  

The Basel Committee on Banking Supervision recently released a report that considers the implications of the ongoing digitalization of finance on banks and supervision. The report builds on the Sound Practices: implications of fintech developments for banks and bank supervisors released in 2018, and “takes… Read More

May 20, 2024 @ 10:04 pm By Omar Faridi  |  

Grab Holdings Limited (NASDAQ: GRAB) announced unaudited financial results for the first quarter ended March 31, 2024. Anthony Tan, Group Chief Executive Officer and Co-Founder of Grab said: “Our focus on product-led growth is bearing fruit, with On-Demand GMV scaling to new highs in spite… Read More

May 20, 2024 @ 10:02 pm By Omar Faridi  |  

Coinbase Derivatives is reportedly expanding its futures offering to include Oil and Gold. On June 3, 2024, Coinbase Derivatives, part of Coinbase (NASDAQ:COIN) and a CFTC-regulated futures exchange, will launch retail-sized futures contracts “for oil and gold.” These new contracts should help traders with further… Read More

May 20, 2024 @ 9:05 pm By Omar Faridi  |  

Texas and Florida metros dominate the best places for buyers in Zillow‘s latest real estate market heat index, securing seven of the top 10 spots. But most of the country’s 50 largest metros — and the U.S. at large — “favor sellers,” according to the… Read More

May 20, 2024 @ 5:41 pm By JD Alois  |  

Mainvest, a FINRA-regulated funding portal, is ceasing operations. According to the platform’s website, the firm has raised over $30 million for issuers since its inception. A pop-up on the Mainvest website also states that payment processing is currenlty unavailable: “Due to the ongoing dispute between… Read More

May 20, 2024 @ 5:18 pm By JD Alois  |  

Following a highly critical independent review and calls for his registration, FDIC Chairman Martin Gruenberg has decided to resign from the agency. Rumblings about poor management at the regulatory agency have been rife for some time now. Gruenberg issued the following statement: “It has been my… Read More

May 20, 2024 @ 5:01 pm By JD Alois  |  

Recently, CI covered the rise in venture capital money going into digital assets. There has been renewed interest in risk capital going into crypto firms. In Q1 2024, crypto startups experienced an increase of 40.3% increase in venture funding and a 44.7% jump in deal… Read More

May 20, 2024 @ 3:54 pm By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) has sued the online lending platform SoLo Funds for claims the Fintech deceived borrowers about the total cost of loans. The CFPB notes that SoLo markets itself “as a consumer-friendly alternative to high-cost, short-term loans.” Solo is a Fintech… Read More

May 20, 2024 @ 3:12 pm By Omar Faridi  |  

The Federal Trade Commission (FTC) released its Fiscal Year 2023 Annual Report outlining the agency’s work to protect consumers and promote competition. FTC Chair Lina M. Khan said: “The FTC is focused on ensuring that American consumers, workers, and entrepreneurs can enjoy honest markets and… Read More

May 20, 2024 @ 11:09 am By JD Alois  |  

The Crowdfunding Professional Association (CfPA) has issued a Policy Platform containing eighteen recommendations for the investment crowdfunding industry. The CfPA believes the recommendations will help to fuel the growth of online capital formation using the Reg CF securities exemption. Brian Christie, the 2024 President of… Read More

May 20, 2024 @ 10:53 am By JD Alois  |  

The UK government has announced that the AI Safety Institute will open an office in San Francisco. This is said to be the first overseas office in San Francisco and is described as a “pivotal step” that will help the UK engage with the emerging… Read More

May 20, 2024 @ 10:28 am By Omar Faridi  |  

Credit cards have been a cornerstone of consumer payment methods for decades now, and the demand for consumer cards is only increasing. In fact, 43% of Gen Z and millennial consumers are increasing their spending on credit cards, suggesting that the market is both lucrative… Read More

May 20, 2024 @ 9:47 am By Tony Zerucha  |  

Teal, a startup in the accounting infrastructure for vertical SaaS businesses sector, has revealed an $8 million Seed round today. Founded in 2023 by Ian Crosby, former head of financial services at Shopify and CEO and co-founder of Bench Accounting, Teal allows vertical SaaS businesses… Read More