Tagged: san francisco

MoneyGram to Stop Using Ripple’s XRP based Fund Transfer Service due to “Uncertainty” Surrounding Ongoing Litigation with SEC

MoneyGram International, Inc. (NASDAQ: MGI), a major cross-border P2P payments and money transfers service, has confirmed that it will no longer be using American Fintech Ripple Labs’ XRP-powered liquidity product. MoneyGram stated that it decided to stop using the technology due to the “uncertainty” surrounding… Read More

Former SEC Chair Mary Jo White, who’s Now Representing Ripple in SEC Lawsuit, Shares Views on XRP Sale and Court Case

When the US Securities and Exchange Commission (SEC) filed a lawsuit against blockchain-focused Fintech firm Ripple Labs in December 2020, the crypto industry and larger community had reacted with alarm and many were surprised. The SEC’s lawsuit also led to Ripple hiring high-profile legal experts… Read More

Startups Raised Record Dollar Amounts in Q4 2020 with Most Growth in Rounds Valued at $25 Million+, Carta Report Reveals

San Francisco-based Carta, a firm that helps private and public companies, investors, and employees manage equity and ownership, has published its private markets report for Q4 2020. Carta’s report, which was posted on February 17, 2021, notes that venture capital managed to close out 2020… Read More

Escape From Silicon Valley: Report Highlights Departures from San Francisco and New York. Heading to Miami?

The confluence of an ongoing pandemic, social strife, high taxes, and governments that are anti-business, has compelled a good amount of people to depart San Francisco and New York for South Florida and other locales. A recent report looks to provide additional insight into the… Read More

Coinbase Recommends Using CoinTracker, a Free Tool for Calculating Taxes on Cryptocurrency Transactions

IRS Internal Revenue Service

San Francisco-based crypto exchange Coinbase says it’s focused on helping its customers during tax season (in the United States) Lawrence Zlatkin, Vice President, Tax, Coinbase, notes that for the second consecutive year, taxpayers will be asked on their tax return forms questions regarding digital currencies…. Read More

Frontline Ventures, which backs B2B SaaS Firms with Dublin, London, San Francisco Offices, Launches New €70M Fund

Frontline Ventures, which supports several different Fintech companies including alternative lending platform Linked Finance, has introduced a €70 million fund. Frontline has also been backing Fintechs such as Clearbanc and Currencyfair. Frontline Ventures’ new fund includes strategic investments from the European Investment Fund, the Ireland… Read More

Digital Asset Exchange Coinbase to Go Public through a Direct Listing Instead of Conducting an IPO

Digital asset exchange Coinbase has confirmed its plans to become a publicly-traded company “pursuant to a proposed direct listing of its Class A common stock.” Coinbase Global, Inc. noted in a blog post published on January 28, 2021, that the proposed listing is “expected to… Read More

Coinbase Now Claims Over 43 Million Verified Users, has Managed to Grow its Digital Assets to $90 Billion: Report

Digital currency exchange Coinbase has reportedly managed to grow its total assets to $90 billion. Meanwhile, Coinbase Custody AUC represented over half or 50% of this total. San Francisco-based Coinbase now claims more than 43 million verified users. The exchange reportedly executed single trades surpassing… Read More

San Francisco based Fintech Blend Explains how their Software Facilitates Better Online Lending Processes

San Francisco-based Blend, which claims to offer market-leading digital lending technology that makes the process of acquiring a loan simpler, faster, and safer, has shared insights on how to unlock better online lending development with their products. Blend acknowledges that creating useful financial products can… Read More

Digital Asset Exchange Coinbase to Acquire Blockchain or DLT Infrastructure Developer Bison Trails

San Francisco-based crypto exchange Coinbase has revealed that it will be acquiring leading blockchain infrastructure platform, Bison Trails. Coinbase stated in a blog post published on January 20, 2020 that the planned acquisition will allow Bison Trails to “accelerate its mission” to offer intuitive and… Read More

One of the Largest Digital Asset Trades in History was Reportedly Completed by One River Asset Management with Assistance from Coinbase

Hedge funds are increasingly looking to San Francisco-based Coinbase for innovative portfolio solutions, the cryptocurrency exchange claims. Coinbase was reportedly chosen as a full service partner and custodian by One River Asset Management. Brett Tejpaul, Head of Institutional Sales, Trading, Custody and Prime Services, notes… Read More

Marketplace Lender Prosper has Provided $18 Billion in Loans, Platform Issued 2,258 Loans this Past Week

Prosper, a peer-to-peer lending company that connects borrowers and investors with over $17B in loans issued via its platform, has shared their performance data from the Prosper Portfolio for November 2020. Last month, around 84% of originations were “rated AA-B compared to 86% in the… Read More

Digital Lending Tech Provider Blend Explains how it Makes Acquiring Loans Simpler, Faster, Safer

San Francisco-based Blend, which claims to offer market-leading digital lending technology that makes the process of acquiring a loan simpler, faster, and safer, notes that the standard origination tech stack includes too many tools and systems, “anchored by mortgage loan origination software.” According to Blend,… Read More

Digital Asset Exchanges Coinbase and OKCoin to Suspend XRP Trading and Deposits following Recent SEC Action

San Francisco based crypto exchange Coinbase announced on December 29, 2020, that it will be suspending XRP trading beginning on January 19, 2021. The leading digital asset exchange confirmed that “in light of the US Securities and Exchange Commission’s (SEC) recent action against Ripple Labs,… Read More

Digital Asset Exchange Coinbase Adds DeFi Tokens Aave, Bancor (BNT), Synthetix (SNX)

Digital asset exchange Coinbase has announced that it has added Aave (AAVE), Bancor (BNT) and Synthetix Network Token (SNX). All three cryptocurrencies are available for trading on the US-based trading platform. The Coinbase team noted that beginning today (December 16, 2020), the exchange will support… Read More

Fintech Firm Figure Technologies Is Pursuing National Bank Charter to Consolidate Oversight

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Treasury Department that serves to charter, regulate, and supervise all national banks and several other types of institutions, had introduced a specialized bank charter in 2018 that would not have… Read More

Financial Management App Provider Digit Adds Automated Investing Tool

San Francisco-based Digit, a financial management and savings company, recently added an automated investing tool to its app. Digit describes itself as a financial wellness expert that has assisted its customers with automatically saving around $5 billion and paying down more than $150 million in… Read More

Buy Now Pay Later Fintech Affirm, which Filed IPO Application, May have Significant Growth Opportunities in the US

Younger investors including Millennials and Gen Z consumers are supporting a change in the idea of paying with credit, and investors might also be able to join this emerging trend in the US markets. Fintech company Affirm Holdings Inc., which lets users split their purchases… Read More

Digital Asset Exchange Coinbase to Disable Margin Trading as Response to New CFTC Guidance

Paul Grewal, Chief Legal Officer at crypto exchange Coinbase, has confirmed that they’ve disabled margin trading on the platform. Grewal says that the move has come as a response to new guidance provided by the US Commodity Futures Trading Commission (CFTC). Grewal noted in a… Read More

San Francisco based Tally, a Personal Finance Management Firm, Hires Executives for Growing its Product and Marketing Operations

Tally, a company that assists borrowers with paying off their credit cards and managing their spending, recently recruited two executives with considerable experience in Fintech while working at Betterment and SoFi. The San Francisco-based firm has appointed Anthony Schrauth as Tally’s new VP of Product… Read More

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