NYAG proposes new legislation to strengthen crypto regulation and protect investors
The proposed bill aims to increase transparency, eliminate conflicts of interest and protect victims of fraud.
USA
Student lender MPOWER secures $150m loan facility from Goldman Sachs
The Washington DC-based lender will use the facility to hand out more loans to international students.
Crypto exchange Bittrex files for bankruptcy protection in the US
The move comes just weeks after the firm announced it would be shutting down operations in the US.
Stripe unveils embeddable fiat-to-crypto onramp for Web3 businesses
The onramp has built-in fraud tools and identity verification to meet KYC and compliance requirements.
Ironing out the kinks: how DeFi can help close the $2tn trade finance gap
Blockchain “allows for secure, transparent and traceable financing for SMEs,” Voy Finance CEO Lee Tarone explains.
Patient billing platform Inbox Health lands $22.5m Series B
With the funding, Inbox Health plans on accelerating its growth by reaching out to more patients.
Online banking start-up Slash launches from stealth with $19m in funding
Slash claims over 20,000 entrepreneurs have signed up to its platform.
Apple’s new savings account sees $1bn in deposits within one week of launch
Forbes reports the savings account attracted $400 million in deposits on launch day alone.
LatAm paytech start-up Liquido launches from stealth with $26m in funding
The firm says its payments infrastructure will “modernise and democratise” digital payments for LatAm businesses.
Global Payments promotes COO Cameron Bready to CEO
Bready succeeds Jeffrey Sloan, who is stepping down as CEO and member of the board from 1 June.
US paytech Finix is now officially a payments processor
The Infrastructure-as-a-Service firm now has direct connections to all major US card networks to process payments.
US digital banking platform Greenwood acquires neobank Kinly
The acquisition marks Greenwood’s third over the last year.
First Citizens Bank of Iowa and Minnesota moves to the cloud with Finastra
Finastra will migrate the bank’s Fusion Phoenix core solution from on-site hosting to the cloud.
Microsoft taps Stripe, PayPal and GoDaddy to launch payments on Teams
North American businesses will be able to accept real-time card payments directly on the Teams platform.
Morgan Stanley reportedly set to cut 3,000 jobs by end of Q2
A dearth of deal making is to blame, Bloomberg reports, with a 32% decline in the bank’s merger advisory arm.
JP Morgan Chase snaps up troubled First Republic from FDIC in $10.6bn deal
JP Morgan has assumed all deposits – insured and uninsured – worth approximately $92 billion from the FDIC.
Tradeweb in advanced takeover talks with Aussie trading platform Yieldbroker
The AUD 125 million ($84m) deal remains subject to Yieldbroker stockholder approval.
Mastercard rolls out Crypto Credential service to strengthen trust in blockchain ecosystem
Mastercard Crypto Credential defines verification standards, instilling “critical” trust in blockchain tech.
Shopify taps B2B payments platform Melio for bill pay solution
The new solution will allow Shopify merchants to pay and manage their bills without leaving the platform.
Retail giant Walmart sues Capital One over credit card failures
Walmart alleges Capital One failed to meet several contractual obligations and customer service standards.
Axoni raises $20m in equity funding round led by EJF Ventures
The funding will be used to advance Axoni’s technology and support its global expansion plans.
US fintech funding round-up: Credora, Summer & Yelo
A handy round-up of the recent funding endeavours of fintech companies across the US.
South Korea’s Kakao Pay eyes majority stake in Siebert
Kakao Pay has acquired a 19.9% stake in the US firm and plans to buy an additional 31.1%.
Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations
Binance.US cites “the hostile and uncertain regulatory climate” in the US as its reason for pulling out.
The future is FedNow: how the new RTP service is aiming to future-proof US payments
FedNow has the potential to drive innovation, broaden financial inclusion and improve cash flow.
Peter Major joins MDT in newly created VP of fintech services role
Major previously spent more than 15 years with banking tech firm Jack Henry.
Jack Henry signs three new US clients for its core banking tech
Michigan’s First Community Bank, Florida’s Sunrise Bank, and Arkansas’ Today’s Bank have selected Jack Henry’s tech.
MoneyGram names Seth Ross as new chief digital officer
Ross joins from HR and payroll software firm Ceridian and has previously worked at Green Dot and American Express.
Join Bank of America, Wells Fargo, and many more at the Banking Tech Awards USA 2023
Book your table for the Banking Tech Awards USA gala dinner and ceremony on 1 June in New York.
Valley National Bank taps NayaOne for fintech innovation platform
The platform will allow the bank and its fintech partners to test new products in a separate sandbox environment.
Stripe funding round helps boost global fintech funding 55% in Q1 2023
Taking Stripe out of the equation, funding actually fell 12% over the same period, coming in at $8.5 billion.
US savings app Super.com lands $85m in Series C fundraise
With the new funding, Super says it will scale its product and engineering resources.
JP Morgan taps Sharegain for digital securities lending solution
Sharegain’s SLTech solution allows investors to generate revenue through loaning out their financial assets.
Santander taps DailyPay to offer on-demand pay services
Through DailyPay, Santander’s clients can provide employees with immediate access to pay as they earn it.
Financial automation start-up Clerkie bags $33m Series A
The round was led by Left Lane Capital, with participation from other investors.
Goldman Sachs mulls potential sale of BNPL fintech GreenSky
GreenSky was acquired by Goldman in 2021 for $2.24bn to furnish its Marcus banking app.
US Century Bank selects Pidgin for real-time payments
Pidgin’s CEO says the demand for real-time payments is growing “among consumers and businesses alike”.
Liberty Bank launches Owners Bank for small businesses in the US
Owners Bank offers checking and savings accounts as well as digital tools for small businesses.
US core banking tech provider Corelation signs two new clients in Hawaii
Corelation has signed Hawaii Community FCU and Pearl Hawaii FCU as its new clients.
US fintech funding round-up: Brassica, Martini.ai and more
A handy round-up of the recent funding endeavours of fintech companies across the US.
