Portland-based WEX Inc. (NYSE: WEX), an established financial technology (Fintech) service provider, confirmed on January 24 that it’s planning to make two new acquisitions worth an estimated $1.7 billion. The Fintech firm has reportedly finalized an agreement to acquire Singapore-headquartered eNett, a provider of business-to-business... Read More
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Indonesia E-Commerce Marketplace Tokopedia Set to Finalize $1.5 Billion Round from Softbank, Alibaba, Temasek
Tokopedia, an Indonesia-based e-commerce marketplace, is reportedly in the final stages of closing an investment round valued at around $1.5 billion from Japan’s Softbank, China’s Alibaba Group and Singapore-based Temasek. The Tokopedia marketplace, which is notably the largest of its kind in Indonesia, is now... Read More
VC firm Andra Capital announced the forthcoming security token offering (STO) for the “Silicon Valley Coin” (SVC) issued on the Tezos blockchain. SVC will utilize TokenSoft to issue the digital security. According to a release, Andra Capital will be giving investors a choice to invest... Read More
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Bank of England Is Looking for a Cloud Build Partner to be a Part of its One Bank Service Transformation Strategy
The Bank of England (BoE) is reportedly looking for a cloud build partner, which will be a part of its One Bank Service Transformation strategy. The UK’s reserve bank notes that it is planning to work with “an experienced partner to assist in design, construction... Read More
RealtyMogul, a real estate crowdfunding marketplace, has topped $500 million in property investments since platform launch, according to a release. RealtyMogul also states that it has returned over $136 million to investors since 2013. RealtyMogul notes that it raised its first $250 million in invested... Read More
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Andreessen Horowitz-backed Internet Computer Developer Dfinity Unveils Demo of “Open Version” of LinkedIn
Decentralized cloud computing developer Dfinity, which notably secured $102 million back in 2018, has unveiled what appears to be an “open version” of giant professional social network LinkedIn, referred to as “LinkedUp.” The LinkedUp app has reportedly been launched on Dfinity’s decentralized “Internet Computer,” instead... Read More
HAB Bank Teams Up with Jack Henry to Enhance Commercial Lending Process by Offering All-Digital Loan Origination
Jack Henry & Associates, Inc. has confirmed that its division ProfitStars’s suite was used by Habib American Bank (HAB Bank) to develop its Commercial Lending Center Suite. The suite will improve the institution’s commercial lending business, enhance operational efficiencies and help offer a better experience... Read More
Tradeteq CEO on European Companies Opening Offices in UK Post Brexit: The Outlook for UK Finance and Fintech is Positive
Last week, Crowdfund Insider covered a report on the UK and how European financial services firms were being compelled to open new offices in light of Brexit. While a good amount of digital ink has covered the number of firms shuttering offices or lowering headcount... Read More
World Economic Forum Establishes Consortium Focused on Creating Governance Framework for Virtual Currencies
The World Economic Forum (WEF) has established what it says is the world’s first ever global consortium focused on creating a framework for the transnational governance of virtual currencies, which include stablecoins (digital currencies that are usually pegged to national fiat currencies). According to a... Read More
Dubai International Financial Centre Fintech Hive Launches Investment Accelerator Program in Middle East, Africa, South Asia
Dubai International Financial Centre (DIFC) Fintech Hive has announced the introduction of their investment-focused accelerator program for startups and other small companies in the Middle East, Africa and South Asia (MEASA) regions. The Fintech Hive Scale Up program will provide partnership and investment opportunities for... Read More
Japanese Lawmakers from Ruling Liberal Democratic Party are Preparing a Proposal Recommending Issuing Digital Currency
A group of around 70 Japanese lawmakers from the nation’s ruling Liberal Democratic Party is reportedly preparing a proposal that recommends issuing a virtual currency. Norihiro Nakayama, a member of the party and parliamentary vice-minister for foreign affairs, stated (on January 24): “China is moving... Read More
Brad Garlinghouse, CEO at privately-held Fintech firm Ripple, recently indicated that the San Francisco-based startup might launch an initial public offering (IPO) within the next year. While attending the World Economic Forum (WEF) in Davos, Switzerland, Garlinghouse reportedly told the Wall Street Journal (on January... Read More
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Lawmakers from Hawaii Propose Bill Asking to Allow Financial Institutions to Offer Custody Services for Digital Assets
Five lawmakers from the US state of Hawaii have proposed a new bill asking to give permission to financial institutions to offer custody services for digital assets. If the proposed Senate bill 2594 is approved, then it would become legal for Hawaii’s banks to custody... Read More
Update: Honcho’s Latest Equity Crowdfunding Round Nears £1 Million in Funding During the Final Days on Crowdcube
Honcho’s latest equity crowdfunding campaign on Crowdcube is now nearing £1 million in funding. The UK-based insurtech launched the initiative last month with a mission to raise a minimum of £700,000. The company is offering 9.21% in equity at a £6,899,999 pre-money valuation. Honcho describes... Read More
Morgan Stanley announced on Thursday the launch of CashPlus, which is described as a new brokerage account that offers clients a “modern alternative” to banking. According to Morgan Stanley, the CashPlus Account replaces the Premier Cash Management program. The account offers two account types, the... Read More
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Mastercard announced on Thursday its new Intelligence and Cyber Center. The center, which is located in Vancouver, Canada. is expected to expand the multinational financial services giant’s Canadian presence by creating and maintaining a total of 380 jobs, and accelerate innovation in digital and cybersecurity,... Read More
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SEI Ventures Partners AI-Enhanced Intelligence Firm ForwardLane to Provide Insights to Financial Institutions
SEI Ventures has teamed up with ForwardLane, a developer of artificial intelligence (AI)-powered intelligence to financial services professionals, in order to support the growth and for the provision of AI-enhanced insights for wealth management firms, asset managers and commercial banking institutions. SixThirty Global Fintech Fund... Read More
Real estate marketplace Fundrise recently published its annual letter where it reflects on platform overall performance and comments on the forthcoming year. Fundrise takes a fund approach with a series of targeted funds utilizing Reg A+. Effectively, these are unlisted funds that seek to drive... Read More
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BNP Paribas Partners Open Banking Platform Tink to Improve its Account Aggregation and Money Management Services
BNP Paribas has teamed up with Tink in order to improve its account aggregation, payment initiation and personal money management services. The partnership between the two companies will involve Tink working with BNP Paribas’ Italy-based retail network Banca Nazionale del Lavoro (BNL). Tink’s solutions will... Read More
Deutsche Bundesbank and Deutsche Börse Join in Publishing Study on Usage of Distributed Ledger Technology
Deutsche Bundesbank and Deutsche Börse have joined forces in publishing a study on the uses of distributed ledger technology (DLT) or blockchain. The bank and exchange believe that “DLT solutions can deliver substantial benefits” and “tokenized securities and baskets substantially improve collateral mobility.” The pro-blockchain... Read More