Tagged: us

July 17, 2020 @ 8:59 am By Omar Faridi  |  

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to combat money laundering and terrorism financing, recently concluded its year long review of its Travel Rule standards for virtual asset service providers (VASPs). The FATF confirmed that it will be extending its… Read More

July 16, 2020 @ 9:35 pm By Omar Faridi  |  

The US Department of Energy (DOE) has reportedly awarded over $1 million to InfoBeyond Technology LLC, a software development company. The DOE funded initiative, called “Gridchain: An Auditable Blockchain for Smart Grid Data Integrity and Immutability,” was awarded the grant money during the recent selection… Read More

July 14, 2020 @ 10:03 pm By Omar Faridi  |  

NYMBUS, a core banking modernization firm, has teamed up with digital payments company Payrailz in order to enhance its cloud-powered “Smart Ecosystem” of digital-first banking products and services. NYMBUS aims to serve as an effective alternative to the legacy business model. The company plans to… Read More

July 13, 2020 @ 9:58 pm By Omar Faridi  |  

The US Secret Service, a federal law enforcement agency operating under the Department of Homeland Security and responsible for conducting criminal investigations and protecting the country’s leaders and their family members, has established the Cyber Fraud Task Force (CFTF). The CFTF has been formed after… Read More

July 13, 2020 @ 9:34 pm By Omar Faridi  |  

Over half or 50% of companies that applied for, and received funding via the US government’s Paycheck Protection Program were financial services providers or companies focused on related technology developments. As reported recently, Fintech firms managed to acquire significant amounts of funding from the PPP… Read More

July 13, 2020 @ 2:25 pm By Samantha Hurst  |  

U.S. fintech Robinhood has reportedly secured an additional $320 million in funding through its Series F investment round. Robinhood previously announced it raised $280 million through the round, which was led by Sequoia Capital.  Founded in 2013, Robinhood is on a mission is to democratize… Read More

July 12, 2020 @ 3:47 pm By Omar Faridi  |  

Evilnum, an advanced and persistent threat group, has been targeting UK-based Fintech companies and others throughout Europe since 2018. Evilnum uses “spear-phishing” emails and various social engineering tactics to initiate their cyberattacks, according to ESET, an online security company. The researchers at ESET noted that… Read More

July 12, 2020 @ 2:44 pm By Omar Faridi  |  

The global COVID-19 outbreak has negatively impacted businesses in many different industries throughout the world. Remote working is increasingly becoming the “new normal” for many people. Employees are able to perform most of their daily tasks from home, and don’t need to be at a… Read More

July 12, 2020 @ 2:32 pm By Omar Faridi  |  

There were many borrowers in the US that signed up for Paycheck Protection Program (PPP) loans because they wanted to be able to make payroll, David O’Connell, a senior analyst focused on wholesale banking at Aite Group, confirmed. O’Connell claims that these businesses were thinking… Read More

July 12, 2020 @ 1:41 pm By Omar Faridi  |  

Gary Guthrie from ConsumerAffairs notes that the July 15, 2020 tax-filing deadline for US taxpayers is approaching, and the Internal Revenue Service (IRS) plans to ensure that US residents have the appropriate tools and services to assist them with filing taxes and meeting their obligations…. Read More

July 12, 2020 @ 12:35 pm By Omar Faridi  |  

San Francisco-based crypto exchange Coinbase is offering its blockchain analytics software to the US Secret Service, a federal law enforcement agency that operates under the Department of Homeland Security. The agency performs criminal investigations and aims to protect the country’s leaders and their family members…. Read More

July 11, 2020 @ 5:44 pm By Omar Faridi  |  

Bitcoin (BTC), the flagship cryptocurrency’s correlation with gold has weakened following the COVID-19 outbreak and resulting economic uncertainty. However, the digital asset’s correlation with the S&P 500 stock market index appears to be getting stronger, according to research report from crypto exchange Kraken. Kraken Intelligence,… Read More

July 11, 2020 @ 3:37 pm By Omar Faridi  |  

US-based Marqeta Inc, a major payment card issuing Fintech firm whose investors include giant Wall Street investment bank Goldman Sachs, is reportedly planning to work with various investment banks in order to potentially launch an initial public offering (IPO). As reported by Reuters, which cited… Read More

July 10, 2020 @ 7:55 am By Omar Faridi  |  

A US state appeals court on July 9, 2020 confirmed that it will be siding with the New York Office of the Attorney General (NYAG) as it aims to obtain documents, involving an investigation, from Bitfinex, a major digital asset exchange, and its sister company… Read More

July 9, 2020 @ 8:32 am By Omar Faridi  |  

An Ethereum address, for the very first time, with 100,000 USDC stablecoin was recently blacklisted. The transaction, which may be viewed via Etherscan, an Ethereum (ETH) blockchain explorer, confirms that a “blacklist(address investor)” function was initiated on June 16, 2020, by 0x5dB0115f3B72d19cEa34dD697cf412Ff86dc7E1b, which is an… Read More

July 8, 2020 @ 9:12 pm By Omar Faridi  |  

Wilmington-based Fintech company Apiture is reportedly planning to scale its business operations after acquiring $20 million in capital through an investment round. Established in 2017, Apiture also has business offices in Austin, Texas. The company says it is working on its digital transformation strategy as… Read More

July 8, 2020 @ 12:11 am By Omar Faridi  |  

Jane Gladstone, the recently appointed president of Promontory Interfinancial Network, has been working in Fintech investment banking since the 1990s. Gladstone established a Fintech merger and acquisition (M&A) and advisory service during the 90s, while working at Morgan Stanley. Gladstone, the former senior MD at… Read More

July 7, 2020 @ 11:30 pm By Omar Faridi  |  

The ongoing U.S.-China trade wars and the COVID-19 outbreak have negatively impacted China’s $11-$13 trillion economy, however, the nation’s technology sector continues to develop rapidly. The country’s tech industry is supported by $616 billion in research and development (R&D) resources. In addition to investing in… Read More

July 7, 2020 @ 8:04 am By Omar Faridi  |  

The Trump Administration has released additional information regarding the recipients of the COVID-19 linked Payroll Protection Program (PPP). Brooklyn, New York-based ConsenSys, a leading Ethereum (ETH) development studio, and several digital asset exchanges were listed as beneficiaries of the recent PPP Coronavirus financial relief scheme…. Read More

July 5, 2020 @ 1:35 pm By Omar Faridi  |  

Ron DeSantis, the 46th Governor of the US state of Florida, noted on July 2, 2020, that with the signing of HB 1391, Florida now welcomes Fintech firms that aim to “disrupt the status quo and gives them an opportunity to provide new types of… Read More