Tagged: massachusetts

Mobile Payments Fintech PayByCar Finalizes $4M Seed Round

PayByCar, Inc., the mobile payments Fintech responsible for offering pay-by-text payments at gas stations across Massachusetts, has confirmed the completion of a $4 million seed round of funding. Anand Raman, President, and co-founder of PayByCar, stated: “Following a string of successes since our 2020 pre-seed… Read More

Robinhood Plans 24/7 Stock Trading, Wins Victory in Mass Court Case, Still Can’t Catch a Bid as Stock Sinks

Robinhood (NASDAQ:HOOD) had some positive news last week. First, in a blog post, Robinhood shared its ambition to offer 24/7 stock trading – just like crypto markets operate today. Robinhood stated: “As an important step towards 24/7 equities investing, we’re launching new extended hours that… Read More

Mass Fintech Hub Announces Advisory Board, Shares Early Programming Schedule

The Mass Fintech Hub recently revealed the latest efforts to make Massachusetts an international leader in Fintech by forming its first advisory board composed of leaders across the state. The Mass Fintech Hub also announced 2022 events and programs, “including a new Fintech Forum, Career… Read More

Financial Inclusion: Robinhood Teams Up with Amplify Latinx via Strategic Investment

Robinhood (NASDAQ:HOOD) recently teamed up with Amplify Latinx via an investment that celebrates their fifth anniversary and supports their ongoing work to uplift the Latinx community. The Massachusetts-headquartered nonprofit Amplify Latinx aims to support Latinx communities by enhancing their economic power. This is done by… Read More

Mass Fintech Hub Doubles Membership to Support Growing Fintech Ecosystem in the Commonwealth

In less than six months, the Mass Fintech Hub, a public-private partnership dedicated to making the Commonwealth a key player in Fintech, has more than doubled its membership and received “hundreds of requests to join its growing programming geared towards developing fintechs.” As mentioned in… Read More

Acadia Introduces Suite of Payment Workflow Automation Tools for Buy, Sell-Side Companies

Acadia, the provider of integrated risk management services for the derivatives ecosystem, has announced the launch of Payments Manager, which is a suite of workflow automation services focused around improving payments. The payment service will be leveraging Acadia’s position as a key player in the… Read More

Massachusetts Fintech Working Group Launches Hub to Make Commonwealth a Financial Tech Leader

Building on over a year of “unprecedented” collaboration among Massachusetts’ financial professionals, Fintech entrepreneurs, investors, government executives, elected officials, and members of the academic community, the Massachusetts Fintech Working Group, a network of 27 leaders representing key industries, have introduced the Mass Fintech Hub, a… Read More

State of Massachusetts Seeks to Revoke Robinhood’s Broker Dealer License, Robinhood Responds

In a blog post today, Robinhood responded to an attempt by the State of Massachusetts Securities Division to revoke Robinhood’s broker-dealer license in the state thus blocking its ability to operate. Robinhood said they have filed in Massachusetts State Court a complaint and motion for… Read More

Cambridge based Fintech Investor Vestigo Ventures has Reportedy Secured $83.5 Million in Capital for its Second Fund

Cambridge-headquartered Vestigo Ventures, which mainly invests in Fintech firms or other financial services businesses, has reportedly secured a total of $83.5 million (to date) for its second fund, according to a securities filing. Vestigo had been planning to acquire $100 million in capital for its… Read More

Massachusetts Securities Regulator Expected to File Complaint Against Robinhood – Report

Robinhood, a digital investment platform that has encouraged a new generation of investors to enter the markets, is a target of an administrative complaint by the State of Massachusetts, according to the WSJ.com According to the report, Massachusetts Securities Division said that “Robinhood failed to… Read More

Nasdaq listed First Foundation to Expand its Digital Bank by using Digital Onboarding’s Client Engagement and Communication Platform

First Foundation Inc. (NASDAQ: FFWM), a company that provides banking, real estate financing, wealth management and trust services, has announced that it’s expanding its digital bank. First Foundation confirmed that it will work with Digital Onboarding (the company) as its “go-to digital client engagement and… Read More

Fidelity Digital Assets to Offer Custody Services for Bitcoin Held by UK’s Nickel Digital Asset Management

Fidelity Digital Assets, the crypto investment arm of Fidelity Investments, a Boston, Massachusetts-based multinational financial services corporation with over $2.4 trillion of assets under management, is planning to offer custody services for Bitcoin (BTC) held by UK-based cryptocurrency investment company Nickel Digital Asset Management. Established… Read More

Massachusetts Issues Cease and Desist Order Against Florida Woman, 62, Participating in Multi-State Crypto Fraud Scheme

The Massachusetts Securities Division of the Office of the Secretary of the Commonwealth Enforcement Section is seeking orders to force a 62-year-old woman in Florida to cease perpetuating a fraudulent cryptocurrency scheme operating in at least 6 American states. The agency is also asking that… Read More

Medford Brewing Company Taps Wefunder for Crowdfunding Campaign: Ready for Expansion

Last week, when Crowdfund Insider covered Crate Brewery’s Crowdcube campaign,  several successful beer crowdfunding campaigns were highlighted, including BrewDog, Garage Beer, Sly Fox, BeerBods, The Bottle Shop. On Crowdcube alone, Chadlington Brewery, Crowns and Hops Brewing Co, Redwell Brewery and Crate Brewery are currently raising funds. Lots of… Read More

State of Massachusetts Creates Fintech Working Group

Massachusetts Secretary of State William Galvin has created a “Fintech Working Group. Galvin’s office oversees the states’ securities regulation. According to a report in the Boston Business Journal, Galvin had this to say about creating the Fintech group: “This working group includes key players from… Read More

What Lessons Can Token Issuers Learn from Recent Federal / State Securities Enforcement Activity?

In this article we discuss a number of lessons that we believe issuers of digital tokens can draw from recent enforcement actions brought by federal and state securities regulators. But we first need to define the perimeter we will be covering. There has been a… Read More

State of Massachusetts Issues “Cryptocurrency ICO Sweep” Regarding Alleged Securities Violations

The State of Massachusetts Securities Division, under the direction of Secretary William Galvin, has issued a series of Consent Orders pertaining to five different initial coin offerings (ICOs). The following issuers received the orders: 18Moons, Inc Across Platforms, Inc. DBA ClickableTV SparkCo Inc, DBA Librium… Read More

With Regulators Clamping Down on ICOs in the US, Should Issuers Consider Off-Shoring Their Crowdsales?

The environment for initial coin offerings (ICOs) in the US has changed dramatically in the past few months. In July of 2017, the Securities and Exchange Commission (SEC) issued the DAO report that identified the token offering as a security indicating at least some of the… Read More

Accenture Opens New Innovation Hub in Boston

Accenture (NYSE: ACN) announced on Tuesday it has opened its new innovation hub in Boston’s Back Bay as part of its accelerated innovation investment in the U.S. The company revealed it plans to add 400 technology jobs in the city by the end of 2020. It… Read More

State of Massachusetts Requests Comments on Proposed Securities Regulations including Crowdfunding Rules

The Secretary of the Commonwealth of Massachusetts has published a grouping proposed regulatory changes several of which will impact federal crowdfunding exemptions, including notice filings for Reg A+ and Reg CF. The proposed changes, posted today, are open for public comment until January 19, 2018…. Read More

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