Monday, April 15, 2024

Prime 10 Fintech Information Tales for the Week Ending February 25, 2023

This week we realized that the SEC is seeking to broaden its enforcement actions towards crypto, Stripe is nearing the shut of its monster spherical, Goldman is being probed by extra regulators, India and Singapore are linking their instantaneous fee techniques and Inexperienced Dot is partnering with fintechs to assist them with money transactions. Listed below are what I think about to be the prime ten fintech information tales of the previous week.

Stablecoins Appeal to Scrutiny in SEC’s Drive to Management Crypto from The Wall Avenue Journal – The SEC will not be glad with its present enforcement actions within the crypto area so it’s now planning to focus on stablecoins. In response to securities attorneys, that is going to be a harder row to hoe than their earlier efforts.

Stripe’s Seek for Billions Nears an Finish, However It Hasn’t Been Simple from The Data – Stripe has been within the information each week these days as extra data retains leaking out about this large funding spherical, a Sequence I. In response to The Data, the fintech chief is near lining up $4 billion in funding commitments.

Goldman Sachs Discloses Expanded Probe Into Its Credit score-Card Enterprise from Bloomberg – In a regulatory submitting on Friday Goldman Sachs disclosed that the probe into its bank card enterprise has expanded past the CFPB to incorporate different authorities companies.

India and Singapore hyperlink UPI and PayNow in cross-border funds push from TechCrunch – India and Singapore have linked their digital funds techniques, UPI and PayNow. With round $1 billion in annual cross-border transactions, this isn’t an enormous funds hall however it does sign the form of issues to come back. Eight banks from Singapore and India are taking part within the launch.

Inexperienced Dot Sees Demand From Unbanked Money-Paying Prospects from PYMNTS – The underserved populations on this nation nonetheless rely disproportionately on money funds. Now, Inexperienced Dot is searching for to leverage new fintech partnerships to assist it serve this group. Its latest companions embody Broxel, Greenwood and Paymentus.

Sam Bankman-Fried Hit With Further Financial institution Fraud Costs in New Indictment from CoinDesk – The information retains getting worse for FTX founder Sam Bankman-Fried. He has been hit with a brand new set of federal prices involving financial institution fraud and working an unlicensed cash transmitter.

The place Banks Will Make investments Their 2023 Expertise Budgets: AI, APIs, CRM from Forbes – Ron Shevlin shares a number of the findings from the annual What’s Going On in Banking research from Cornerstone Advisors. Banks say they are going to be focusing their know-how spending on 5 areas in 2023: conversational AI, industrial digital banking, CRM, real-time funds and APIs.

Wall Avenue Banks Are Cracking Down on AI-Powered ChatGPT from Bloomberg – The banking business will not be taking kindly to ChatGPT. First, it was JPMorgan and now Financial institution of America, Citi, Goldman Sachs, Wells Fargo and Deutsche Financial institution have all stated they are going to be banning the usage of the AI device by staff.

Cross River exec named CEO of American Fintech Council from BankingDive – One of many main fintech commerce associations, the American Fintech Council, has been with out a chief for a number of months. This week we realized that fintech veteran, Phil Goldfeder, might be leaving Cross River subsequent month to take the CEO function.

Fintech Earnings Season Continues with Coinbase and Block from Fintech Nexus – We proceed to cowl earnings for most of the main fintechs. This week Coinbase reported fairly dismal earnings however had been above analysts’ low expectations and Block reported one other stable quarter, additionally beating expectations.

Each Thursday afternoon, the Fintech Nexus Information crew and a particular visitor focus on the information of the week reside on YouTube, LinkedIn, and Twitter. We have now now made the present out there in podcast format – click on on the audio participant beneath.

  • Peter Renton

    Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and occasions firm centered on fintech. Peter has been writing about fintech since 2010 and he’s the creator and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview sequence. Peter has been interviewed by the Wall Avenue Journal, Bloomberg, The New York Instances, CNBC, CNN, Fortune, NPR, Fox Enterprise Information, the Monetary Instances, and dozens of different publications.

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