Tagged: us

August 8, 2020 @ 10:17 am By Omar Faridi  |  

Customers Bank, which offers personal and business banking solutions, including checking, money markets, savings, mortgages, loans, and cash management, has reportedly agreed to sell its BankMobile Technologies division to Megalith Financial Acquisition Corporation (NYSE:MFAC). BankMobile Technologies is an established US-based digital banking platform. Meanwhile, MFAC… Read More

August 7, 2020 @ 10:29 am By Omar Faridi  |  

The US Federal Reserve, which is the central banking system of the country, has reportedly been working on a new real-time payment and settlement system, called FedNow. Governor Lael Brainard claims that the Fed plans to have FedNow fully operational as soon as possible. Brainard… Read More

August 6, 2020 @ 1:29 pm By Omar Faridi  |  

Band Protocol (BAND), a cross-chain data oracle platform that aggregates and connects real-world data and APIs to blockchain based smart contracts, is preparing to launch on Coinbase Pro, a digital asset exchange for professional traders. The Coinbase team notes that on August 10, 2020, customers… Read More

August 5, 2020 @ 1:22 pm By Omar Faridi  |  

Current, an established US-based banking challenger serving Americans “overlooked” by traditional banks, revealed on August 4, 2020, that it is launching a points rewards program for all its members. Current claims that it’s now the first US mobile bank to offer points rewards on purchases… Read More

August 5, 2020 @ 7:30 am By Omar Faridi  |  

Payments company Square (NYSE:SQ) reported on August 4, 2020, that it generated $875 million in Bitcoin (BTC) related revenue through the company’s popular Cash App service during Q2 2020. Overall, Square reported a big beat topping analyst expectations. The jump was driven in part from… Read More

August 4, 2020 @ 7:39 am By Omar Faridi  |  

San Francisco based Fintech firm Ripple has released its quarterly XRP Markets Report. The company notes in its report, that as an XRP holder, Ripple “believes proactive communication and transparency are part of being a responsible stakeholder.” During Q2 2020, total XRP sales were valued… Read More

August 4, 2020 @ 1:14 am By Omar Faridi  |  

ZenBusiness, a corporate entity creation and management firm that makes it easy to start, run, and grow their businesses, has reportedly finalized its first acquisition of Austin-based Fintech platform, Joust. The amount that will be paid for the acquisition hasn’t been shared publicly. Ross Buhrdorf,… Read More

August 3, 2020 @ 10:06 pm By Omar Faridi  |  

Neobank Aidbanc, which launched operations last year, is reportedly planning to assist NGOs by providing them with digital banking and spend management software that they need to deliver financial aid. The proper distribution of financial aid can have a significant positive impact on the lives… Read More

August 2, 2020 @ 9:30 pm By Omar Faridi  |  

Stuart Sopp, founder and CEO at digital bank Current, has previously noted that the COVID-19 outbreak has shown how his company serves employees whose roles are considered essential during the global pandemic. In June 2020, Sopp had confirmed that Current would remain focused on spending,… Read More

August 1, 2020 @ 2:34 pm By Omar Faridi  |  

IFN Islamic Fintech, a “one-stop-shop” for industry knowledge, networking, and communication in the global Islamic financial technology space, revealed on July 30, 2020, that there are now at least 142 Fintech firms globally that reportedly provide Shariah-compliant products and services. As reported in late June… Read More

August 1, 2020 @ 11:29 am By Omar Faridi  |  

San Francisco based crypto exchange Coinbase says it plans to provide support for all assets that meet its technical standards and guidelines, which adhere to applicable laws and regulations. Coinbase notes that eventually, it expects its clients, throughout the world, to have access to at… Read More

August 1, 2020 @ 11:26 am By Omar Faridi  |  

Apple Inc.(NASDAQ: AAPL) has reportedly acquired Mobeewave Inc., a company with technology that aims to transform iPhones into mobile or digital payment terminals, according to sources familiar with the matter. Mobeewave’s technology allows consumers to simply tap their credit card or mobile phone on another… Read More

July 31, 2020 @ 7:51 am By Omar Faridi  |  

Many companies have either launched or are at least considering the possibility of conducting an initial public offering (IPO), despite the economic uncertainty created by the global COVID-19 outbreak. San Francisco-based Fintech firm Affirm, which was established by Max Levchin, the co-founder of PayPal, has… Read More

July 30, 2020 @ 10:47 am By Omar Faridi  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, recently noted that as the Coronavirus-related lockdown measures are eased, many businesses in the United Kingdom are preparing to open up again. However, even for businesses that… Read More

July 28, 2020 @ 9:00 am By Omar Faridi  |  

Abra, the provider of a digital asset investing app, revealed on July 28, 2020, that it has launched new Abra Interest Accounts that offer investors an opportunity to earn as much as 9% interest p.a. on their crypto deposits and certain USD backed stablecoins. As… Read More

July 27, 2020 @ 5:18 pm By Omar Faridi  |  

Dave.com, which aims to be the finance version of David and Goliath taking on the big banks and “helping millions with money challenges,” has confirmed that a security breach took place on its platform. Dave, which claims to have “reinvented” many areas of traditional finance,… Read More

July 26, 2020 @ 9:28 am By Omar Faridi  |  

  Financial pressure or stress has become a part of the daily lives of many consumers, and now the COVID-19 outbreak has introduced even more financial pressure points or exacerbated pre-existing ones for individuals and families across the globe. John Smallwood, president at Smallwood Wealth… Read More

July 25, 2020 @ 3:05 pm By Omar Faridi  |  

Peer to peer (P2P) lending platform managers have different predictions or expectations about how Innovative Finance ISA (IFISA) inflows will perform during this tax year in the United Kingdom. David Bradley-Ward, CEO at Ablrate, an asset-backed lending platform, claims that net inflows on the platform… Read More

July 25, 2020 @ 2:04 pm By Omar Faridi  |  

New York-based Signature Bank (Nasdaq: SBNY), a cryptocurrency-friendly commercial bank with around $50 billion in total assets, has reported consistent and steady growth this quarter. According to the bank’s recent earnings call, it has achieved around $8 billion in deposit growth. Approximately 2.5% of these… Read More

July 25, 2020 @ 1:57 pm By Omar Faridi  |  

San Francisco-based crypto exchange Coinbase has reportedly grown its customer base to over 35 million retail and institutional digital asset investors. The Coinbase team noted in their Crypto H1 2020 report that the digital asset investor market has been maturing and growing steadily with many… Read More