Connect with us

Crowdfunding

Top 10 Fintech News Stories for the Week Ending July 24, 2021

Published

on

Another acquisition by Visa, another fintech SPAC starts trading and Square Banking highlight another busy news week in fintech. We also saw the release of a new bitcoin rewards card and bad news for one of the leading crypto lenders while across the pond Starling demonstrated that you can be profitable as a digital bank. Here are what I consider to be the top 10 most important fintech news stories of the past week.

Visa acquires Currencycloud, which makes APIs for remittances and currency transfers, in a $963M deal from TechCrunch – Visa announced their second big acquisition in Europe in as many months as the payments leader looks to ramp up its cross border remittances capability.

Fintech OppFi goes public as CEO looks to alleviate America’s emergency savings drought from CNBC – OppFi closed their SPAC transaction and started trading this week on the New York Stock Exchange as the year of going public continues for fintech.

Billionaire Jack Dorsey’s Square Launches A Small Business Checking Account from Forbes – Ron Shevlin gives us his take on the new Square checking account that was launched this week called Square Banking and while he is generally positive on the move, he thinks they may struggle to dominate small business banking.

The new Upgrade Bitcoin Rewards Card pays 1.5% back in bitcoin with no annual fee, and anyone can apply from Business Insider – There has been a lot of movement in bitcoin rewards cards this year but those that have been announced are only in limited release. Upgrade beats the rest of the industry to the punch with a card available to everyone, pitching it as an onramp to crypto.

BlockFi’s interest product draws scrutiny from Alabama, Texas regulators from The Block – It has been a bad week for BlockFi. It started with a cease and desist from the New Jersey attorney general and then Alabama and Texas jumped into the fray. The issue is that these states believe BlockFi’s core product, the interest account, is a security.

Starling Banks’s 2021 results see 600% jump in revenues and 8 months of profitability from AltFi – Starling Bank released results through March 31 and they continue to do well. They are the only digital bank in the UK that seems to have turned the corner on profitability.

i80 Group has quietly committed $1B in credit to the fintech and proptech worlds from TechCrunch – The debt capital space for startups continues to evolve with one of the largest players now being i80 having funded more than $1 billion funded now.

Blockchain start-ups raised a record $4.4 billion in the second quarter despite the slump in crypto prices from CNBC – More analysis from CB Insights shows it was a good funding quarter for blockchain focused startups.

India considering phased roll out of central bank digital currency from TechCrunch – The deputy governor of the Reserve Bank of India said this week that the country has studied the risks and will be moving forward with their plan to roll out their CBDC in phases.

How Tech Won the Pandemic and Now May Never Lose from The New York Times – Tech-centric companies from many industries, including fintech, have grown rapidly during the past 18 months, setting themselves up for a dominant future.


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.lendacademy.com/top-10-fintech-news-stories-for-the-week-ending-july-24-2021/

Crowdfunding

Akoin’s AKN Token Now on BitMart, Improves Access for African Users

Published

on

Akoin, a digital ecosystem and cryptocurrency developed by global artist and Akon to improve social opportunities and access for African entrepreneurs, is now listing on the cryptocurrency exchange BitMart.

The listing with BitMart provides access for Akoin within the United States from people who want to support Akoin and opens up access to many other African countries who were previously unable to access and utilize it. The development will also make Akoin available for trading in 10 additional countries where it was previously inaccessible: Burundi, Central African Republic, Egypt, Ethiopia, Guinea, Guinea-Bissau, Mali, Tunisia, and Uganda.

Trading began Sept. 17, and users can buy and sell the token using internationally available deposit options such as PayPal, Paxful, and Apple Pay. It also features sign-up processes uniquely designed for the African business environment. This extends Akoin coverage into an additional 11 African countries with access to buy and sell the Akoin token.

Akoin said is committed to bringing a more trusted digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services and the global economy. The Akoin ecosystem provides token holders with access to a wide range of dApps and apps, along with tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities.

The president and co-founder of Akoin, said the listing was an important step for the business.

“BitMart enables us to offer Akoin to a much larger number of people, including those in the United States and more broadly across Africa, which has been a goal for us,” Jon Karas said. “Listing on BitMart also creates more global awareness and liquidity for the Akoin token while bringing us even closer to realizing our vision of bringing greater opportunity and social connectedness to rising entrepreneurs who want to build, grow and develop their own businesses.”

Akoin has signed global partnerships they expect will increase utility of the AKN token, including the Mwale Medical and Technology City (MMTC) in western Kenya where it is being successfully used as the main currency and central payment platform for residents, workers and businesses, a move which has led to the ongoing roll out of AKN across Kenya.

Global expansion continues in Senegal and throughout the African continent through the growth of the Akoin Wallet and global exchange listings with Bittrex Global and BitMart, the company said.  

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180714-akoins-akn-token-now-on-bitmart-improves-access-for-african-users/

Continue Reading

Crowdfunding

Akoin’s AKN Token Now on BitMart, Improves Access for African Users

Published

on

Akoin, a digital ecosystem and cryptocurrency developed by global artist and Akon to improve social opportunities and access for African entrepreneurs, is now listing on the cryptocurrency exchange BitMart.

The listing with BitMart provides access for Akoin within the United States from people who want to support Akoin and opens up access to many other African countries who were previously unable to access and utilize it. The development will also make Akoin available for trading in 10 additional countries where it was previously inaccessible: Burundi, Central African Republic, Egypt, Ethiopia, Guinea, Guinea-Bissau, Mali, Tunisia, and Uganda.

Trading began Sept. 17, and users can buy and sell the token using internationally available deposit options such as PayPal, Paxful, and Apple Pay. It also features sign-up processes uniquely designed for the African business environment. This extends Akoin coverage into an additional 11 African countries with access to buy and sell the Akoin token.

Akoin said is committed to bringing a more trusted digital currency to countries within Africa which suffer from weak and over-inflated fiat currencies that prevent citizens from accessing financial services and the global economy. The Akoin ecosystem provides token holders with access to a wide range of dApps and apps, along with tools for entrepreneurs to connect, engage and scale business in regions such as Africa, while providing a positive social impact to their communities.

The president and co-founder of Akoin, said the listing was an important step for the business.

“BitMart enables us to offer Akoin to a much larger number of people, including those in the United States and more broadly across Africa, which has been a goal for us,” Jon Karas said. “Listing on BitMart also creates more global awareness and liquidity for the Akoin token while bringing us even closer to realizing our vision of bringing greater opportunity and social connectedness to rising entrepreneurs who want to build, grow and develop their own businesses.”

Akoin has signed global partnerships they expect will increase utility of the AKN token, including the Mwale Medical and Technology City (MMTC) in western Kenya where it is being successfully used as the main currency and central payment platform for residents, workers and businesses, a move which has led to the ongoing roll out of AKN across Kenya.

Global expansion continues in Senegal and throughout the African continent through the growth of the Akoin Wallet and global exchange listings with Bittrex Global and BitMart, the company said.  

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180714-akoins-akn-token-now-on-bitmart-improves-access-for-african-users/

Continue Reading

Crowdfunding

Shares in MoneyLion to Trade on NYSE on September 23rd as SPAC Deal Approved

Published

on

MoneyLion Inc., a neo-bank Fintech that reports over 2.8 users and an annualized net revenue run-rate of over $150 million, will commence trading on the New York Stock Exchange tomorrow (September 23, 2021) as the SPAC deal is approved. Following a special meeting yesterday of Fusion Acquisition Corp. the deal was certified and shares of MoneyLion will trade under the ticker ML.

Dee Choubey, co-founder and CEO of MoneyLion, said this was an incredible milestone for his company:

“Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”

As was previously reported, the MoneyLion deal has a valuation of around $2.4 billion.  The combination is expected to provide approximately $450 million in cash to the Fintech thus providing a fair amount of growth capital.

John James, CEO of Fusion, stated:

“The MoneyLion team has positioned the business extremely well for future scale, and this transaction provides them with ample growth capital to expand their already broad suite of products and services, both organically as well as through strategic acquisitions. We look forward to partnering with Dee and his talented management team during their next phase of growth.”

MoneyLion’s new board of directors will be comprised of ten directors, nine of whom are independent directors. Non-executive Chairman John Chrystal, vice chairman of The Bancorp, Inc., will lead the Board with MoneyLion’s directors including former Ambassador Dwight Bush Sr., Greg DePetris, Matt Derella, Jeff Gary, Lisa Gersh, Annette Nazareth, former SEC Commissioner, Michael Paull, and Chris Sugden. The current management team will remain in place.

MoneyLion offers many banking services in a digital environment in partnership with MetaBank and investing with DriveWealth, LLC. MoneyLion also offers crypto, powered by Zero Hash, a key offering for younger consumers.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180716-shares-in-moneylion-to-trade-on-nyse-on-september-23rd-as-spac-deal-approved/

Continue Reading

Crowdfunding

Shares in MoneyLion to Trade on NYSE on September 23rd as SPAC Deal Approved

Published

on

MoneyLion Inc., a neo-bank Fintech that reports over 2.8 users and an annualized net revenue run-rate of over $150 million, will commence trading on the New York Stock Exchange tomorrow (September 23, 2021) as the SPAC deal is approved. Following a special meeting yesterday of Fusion Acquisition Corp. the deal was certified and shares of MoneyLion will trade under the ticker ML.

Dee Choubey, co-founder and CEO of MoneyLion, said this was an incredible milestone for his company:

“Taking this step to become a public company provides us with an incredibly strong balance sheet to accelerate our mission of using our digital financial platform to rewire the banking system and help more people take control of their finances and achieve their life goals. We are grateful for the support from our global team, our investors and everyone who helped us reach this moment, and we are excited for the future ahead.”

As was previously reported, the MoneyLion deal has a valuation of around $2.4 billion.  The combination is expected to provide approximately $450 million in cash to the Fintech thus providing a fair amount of growth capital.

John James, CEO of Fusion, stated:

“The MoneyLion team has positioned the business extremely well for future scale, and this transaction provides them with ample growth capital to expand their already broad suite of products and services, both organically as well as through strategic acquisitions. We look forward to partnering with Dee and his talented management team during their next phase of growth.”

MoneyLion’s new board of directors will be comprised of ten directors, nine of whom are independent directors. Non-executive Chairman John Chrystal, vice chairman of The Bancorp, Inc., will lead the Board with MoneyLion’s directors including former Ambassador Dwight Bush Sr., Greg DePetris, Matt Derella, Jeff Gary, Lisa Gersh, Annette Nazareth, former SEC Commissioner, Michael Paull, and Chris Sugden. The current management team will remain in place.

MoneyLion offers many banking services in a digital environment in partnership with MetaBank and investing with DriveWealth, LLC. MoneyLion also offers crypto, powered by Zero Hash, a key offering for younger consumers.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180716-shares-in-moneylion-to-trade-on-nyse-on-september-23rd-as-spac-deal-approved/

Continue Reading
Esports23 hours ago

Here are all of CS:GO’s Operation Riptide skins

Esports5 days ago

Square Enix reveals Endwalker title screen on Final Fantasy XIV Letter from the producer

Esports4 days ago

NBA 2K22 Limitless Spot-Up and Chef Badges Explained

Esports1 day ago

Valve reveals CS:GO Operation Riptide, featuring private queue, short competitive games, new deathmatch modes, and more

Esports3 days ago

Clash Royale League World Finals 2021 will take place in December with a $1,020,000 prize pool

Esports4 days ago

What is The Old Gym in NBA 2K22 Next Gen?

Esports4 days ago

ArcSystemWorks announces ArcRevo 2021 schedule with Guilty Gear Strive as the only featured title

Cyber Security4 days ago

KrebsonSecurity Reported That TTEC Hit With Ransomware Attack

Esports2 days ago

All Fashion Week Timed Research, Finding Your Voice Special Research, and event-exclusive Field Research tasks and rewards in Pokémon Go

AR/VR4 days ago

The VR Job Hub: First Contact Entertainment, SyncVR Medical & University of Westminster

IOT5 days ago

How IoT Revolutionized Several Areas of the Ecommerce Industry

Esports3 days ago

Karmine Corp. avoid reverse sweep vs. Fnatic Rising, set record as first team to win back-to-back EU Masters championships

Esports3 days ago

Gambit Esports defeat Envy 3-0 in VCT Masters Berlin Grand Finals

Startups5 days ago

6 Ways Higher Education Can Help You Advance Your Career

AI4 days ago

Coinbase Secures Another Millionaire Deal With the US Government to Let Them Use Its Blockchain Analytics Software

Esports4 days ago

Best Free Throw in NBA 2K22: Which to Use

Startups5 days ago

Strategic movements a rising startup should do

Esports4 days ago

All Oshawott Pokémon Go Community Day From Scalchops to Seamitars Research tasks and rewards

Esports3 days ago

nexa: “We worked really hard to get back into the shape we were in before the player break”

Esports5 days ago

DRX parts ways with coach cvMax

Trending