Tagged: us

May 23, 2020 @ 2:07 pm By Omar Faridi  |  

Coinbase Custody, the digital asset custody solutions offered by San Francisco-based exchange Coinbase, has introduced staking for blockchain interoperability platform Cosmos’ ATOM tokens. Coinbase Custody was reportedly the first digital asset custodian to provide staking and “active governance” for cryptocurrencies residing in cold wallets (offline… Read More

May 23, 2020 @ 1:39 pm By Omar Faridi  |  

Via Varejo, the largest retail company in Brazil, has confirmed that it will be acquiring AirFox, a US-based Fintech firm. The amount involved in the transaction has not been disclosed. AirFox will maintain its Boston head offices and will also operate as a Fintech “innovation… Read More

May 21, 2020 @ 8:22 am By Omar Faridi  |  

Brian Armstrong, CEO at San Francisco-based crypto exchange Coinbase, noted on May 20, 2020 that the firm would be moving to a remote-first policy, due to the COVID-19 outbreak. This means that most Coinbase employees will be able to work remotely from home. Armstrong confirmed… Read More

May 20, 2020 @ 7:46 am By Omar Faridi  |  

San Francisco-based Brex, a company focused on developing B2B financial products, has secured $150 million in capital from DST, Lone Pine Capital, and several other investors. Brex offers a corporate credit card for technology firms. The financial services firm helps startups of all sizes (from… Read More

May 19, 2020 @ 11:09 pm By Omar Faridi  |  

The COVID-19 outbreak has led to significant changes in consumer behavior globally as many people throughout the world are now working remotely from home. Analysts are now questioning whether the behavioral changes are actually permanent or fundamental shifts that will last even after the Coronavirus… Read More

May 19, 2020 @ 11:07 pm By Omar Faridi  |  

Mizuho Americas confirmed on May 18, 2020 that it has appointed Dan Dolev as the company’s new managing director and senior equity research analyst covering the Fintech space. Dolev will be working out of Mizuho’s New York offices. He will be reporting directly to Susan… Read More

May 18, 2020 @ 11:04 pm By Omar Faridi  |  

A lawsuit was filed on May 16, 2020, against HDR Global Trading Ltd, the parent company of the Hong Kong-operated Bitcoin Mercantile Exchange (BitMEX), a leading digital currency derivatives exchange that averages billions of dollars worth of daily trading volume. The 106-page lawsuit has also… Read More

May 18, 2020 @ 3:25 pm By Omar Faridi  |  

Giant VC firm Andreessen Horowitz is arguing that the growth of social media, application developers, digital asset prices, and the rise of blockchain startups may eventually lead to the development of a more stable cryptocurrency industry. The US-based firm published a report on May 15,… Read More

May 16, 2020 @ 12:32 pm By Omar Faridi  |  

US-headquartered nCino, an established cloud banking provider, has teamed up Sweden’s small business lender, Yourban, in order to support SME lending via the nCino Bank Operating System. Through the partnership, Yourban will be using a system that has been configured to meet the bank’s requirements…. Read More

May 15, 2020 @ 9:44 am By Omar Faridi  |  

Oxygen, a digital banking platform focused on serving freelancers, gig economy workers, and SMEs, has introduced a virtual banking solution that has been built to offer flexible financial services to millions of US professionals who have multiple income streams, contract work, or freelance working arrangements…. Read More

May 13, 2020 @ 9:35 am By Omar Faridi  |  

Encrypted messaging provider Telegram has reportedly abandoned its TON blockchain project after a lengthy court battle with the US Securities and Exchange Commission (SEC). Pavel Durov, founder of Telegram, confirmed on May 12, 2020, that the Telegram Open Network (TON) initiative would be discontinued, because… Read More

May 12, 2020 @ 8:43 am By Omar Faridi  |  

Binance.US, the leading cryptocurrency exchange company’s US-based division, has introduced an over-the-counter (OTC) digital asset trading desk. The new OTC option is only available for trades valued at $10,000 or more. OTC crypto trades are negotiated directly between the buyer and the seller. They don’t… Read More

May 8, 2020 @ 2:25 pm By Omar Faridi  |  

Boston-based Fintech firm Flywire recently confirmed that it will be downsizing its operations, due to the COVID-19 outbreak and resulting economic challenges. The payment processing firm reportedly laid off 12% of its workers (around 60 employees), according to estimates from industry participants. Flywire will also… Read More

May 8, 2020 @ 10:40 am By Omar Faridi  |  

Canada-based Symend, a company that helps utilities and financial service providers with identifying and assisting customers who may be struggling to pay their bills, has secured $52 million in funding through a Series B investment round led by Inovia Capital. Other investors in the firm’s… Read More

May 7, 2020 @ 11:02 pm By Omar Faridi  |  

Bittrex Global, Bittrex’s European digital asset exchange partner, revealed on May 5, 2020 that it will be issuing an exchange token next month. Founded in October of last year and based in Liechtenstein, the cryptocurrency trading platform has been built using the same technology stack… Read More

May 4, 2020 @ 9:33 pm By Omar Faridi  |  

The Coronavirus (COVID-19) outbreak has made it quite difficult for the United States Congress to conduct meetings and deliberate. Lawmakers have offered suggestions regarding how to keep things going during the ongoing crisis. As mentioned in a Senate memo posted on April 30, 2020, blockchain-based… Read More

May 4, 2020 @ 7:04 pm By Omar Faridi  |  

  SS&C, a multinational provider of investment and financial services and software for the financial services and healthcare sectors, will be acquiring Innovest Systems, a wealth management technology (Wealthtech) firm, for $120 million in cash and stock. New York-headquartered Innovest Systems offers cloud-powered technology for… Read More

May 4, 2020 @ 3:05 pm By Samantha Hurst  |  

U.S. fintech Robinhood announced on Monday it secured $280 million through its Series F funding round, which was led by Sequoia Capital with participation from existing and new investors, including NEA, Ribbit Capital, 9Yards Capital, and Unusual Ventures. Founded in 2013, Robinhood stated it is… Read More

May 4, 2020 @ 7:35 am By Omar Faridi  |  

Mobile and online banking users have increased significantly due to the COVID-19 pandemic. This, as banks across the globe have taken measures to limit or restrict in-person visits to physical branches, in order to prevent the further spread of the Coronavirus. A recent J.D. Power… Read More

May 3, 2020 @ 8:40 am By Omar Faridi  |  

The Coronavirus (COVID-19) outbreak has dramatically affected cash transactions in the United Kingdom, as ATM withdrawals dropped by 60% during the lockdown period. Approximately 75% of UK residents confirmed that they’re not handling physical currency notes nearly as much as they were before the ongoing… Read More