UK-based Proplend, a Fintech platform that matches demand for alternative property finance with investor demand for “inflation-beating returns,” has revealed that its loan queries doubled last month (month-on-month). The FCA approved peer to peer (P2P) lending platform claims that it’s expecting several new deals to... Read More
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Fintech Executive Says COVID-19 has been the “Shot in the Arm” that Contactless Payments Needed, Now It’s Unsafe to Use Paper Currency
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
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
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Aggregate Security Token Market Cap Increased Over 45% (Month-to-Month) to Nearly $145 Million in June 2020: Report
The Security Token Group (STG) has published the Security Token Market Report for June 2020. The team at STG claims that during the past 6 months, there’s been substantial growth in the blockchain-based security token sector. In May 2020, tZERO, the leading ATS in the... Read More
Around 66% of European Consumers Say COVID-19 has Accelerated Shift Towards Digital Onboarding, but 40% Can’t Access New Financial Services: Report
Around 40% of European consumers responding to a survey claim that they’ve not been able to access new financial services because of lockdown measures enforced after the COVID-19 outbreak. These consumers also said they’re unable to access digital platforms, which is why they can’t use... Read More
UK’s Alternative Business Funding Partners with LawBite, an Online Legal Platform, to Offer Assistance to SMEs Following COVID-19
UK-based Alternative Business Funding (ABF), a free and easy-to-use website for finding funding sources for SMEs, has teamed up with LawBite, an online legal platform powering a fully SRA regulated UK law firm that provides various legal services to small businesses. Through the partnership, the... Read More
Last week, well-known Insurtech Lemonade (NYSE:LMND) launched an initial public offering (IPO) on the New York Stock Exchange. Shares listed at $29 but quickly moved higher closing over $60/share – a significant move. Today, Lemonade traded at around $80 a share giving the young firm... Read More
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House Financial Services Committee Task Force on AI Schedules Hearing on AI, Contract Tracing and Exposure Tracing for COVID-19
Tomorrow (July 8), the Task Force on Artificial Intelligence, part of the House Financial Services Committee will hold a virtual hearing entitled, “Exposure Notification and Contact Tracing: How AI Helps Localities Reopen Safely and Researchers Find a Cure.” Open to the public, the virtual... Read More
Block.one’s Blockchain based Voice Network has Officially Launched, Plans to “Take Social Media Back” from Big Tech
Voice, a blockchain-based social media platform created by Block.one, the company behind EOS, a leading distributed ledger tech (DLT) development platform, has confirmed that it has officially launched. Voice is presently available only in the read-only mode for the general public. The social media network... Read More
Wagestream, a UK-based fintech, announced on Tuesday it has secured £20 million through its Series B funding round, which was led by Northzone with participation from Balderton Capital, QED Investors, LocalGlobe, Fair By Design, Jigsaw VC, and Village Global. Founded in 2018, Wagestream explains it... Read More
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Wirecard Insolvency Administrator Says there are Over 100 Interested Parties for Core Business and Associated Companies
Last week it was announced that Dr. Michael Jaffé had been appointed to oversee the bankruptcy process of Wirecard AG (WDI:DE). The once prominent Fintech dove into ignominy following the revelation of €1.9 billion in missing funds. The financial scandal saw the CEO, Markus Braun,... Read More
Overfunding: Mobile Tech Platform Thyngs Quickly Surpasses £200,000 Funding Target Through Latest Seedrs Campaign; Announces New Partnership With Judopay
Just days after launching its latest equity crowdfunding campaign on Seedrs, UK-based mobile technology platform, Thyngs, has successfully secured its initial £200,000 funding target from nearly 240 Seedrs investors. Thyngs is offering 2.57% in equity at a £7,592,407 pre-money valuation. As previously reported, Thyngs is... Read More
Telegram to Shut Down its TON Test Network Next Month, After Paying $18.5 Million Fine to SEC, and Returning Investors’ Money
Telegram, a major social network with hundreds of millions of users, had attempted to raise funds through a digital asset offering. However, it recently decided to settle an enforcement action initiated by the US Securities and Exchange Commission (SEC). While Telegram claims it terminated its... Read More
Chainalysis Announces Expansion of Series B Round to $49 Million With New Investment From Ribbit Capital & Sound Ventures
Blockchain security and analytics firm Chainalysis announced on Tuesday it raised an additional $13 million to expand its Series B round to $49 million with an investment from Ribbit Capital and Sound Ventures. Founded in 2014, Chainalysis claims it offers cryptocurrency investigation and compliance solutions to global law enforcement... Read More
Global digital banking group EQIBank announced on Tuesday the launch of its Global Secured Credit Card, which is now available for both corporate and private account holders. “Booking flights, arranging hotel accommodation, and making purchases online is now so much easier regardless of where you... Read More
Digital bank Penta announced on Tuesday it has more than €4 million in funding from new international investors. Penta reported that this second closing of its financing round increases the total investment of its Series B to more than €23 million. The new investors... Read More
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India-based banking group ICICI Bank announced it has crossed a milestone of one million users on its WhatsApp banking platform. The bank reported it introduced banking services on WhatsApp three months ago to enable its retail customers to undertake a slew of banking requirements from... Read More
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HM Treasury Update Shows Ongoing Rise of COVID-19 Support Schemes, Bounce Back Loans Top One Million, Future Fund at £380 Million
HM Treasury has posted its weekly update on its COVID-19 business support schemes and as one would expect the numbers continue to push higher. HM Treasury reports that more than one million businesses have been approved to receive £45 billion in financing support. In... Read More
Global blockchain payments provider BitPay recently announced it has updated its mobile app to support Segwit as well as have dark mode available and the ability to directly among Coinbase wallets. “At BitPay, we constantly strive to improve our products and deliver you the best... Read More
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Kraken Subsidiary & European Cryptocurrency Exchange Crypto Facilities Obtains Multilateral Trading Facility License from UK’s Financial Conduct Authority
Crypto Facilities, a subsidiary of Kraken and European cryptocurrency exchange, announced on Monday it has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA). Crypto Facilities reported with this new license, it will be able to expand its product range... Read More
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