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Weekly Update

TFU | June 1-7

Dear readers, As we’re sure is the case with all of you, we’ve been disturbed by the tragic killing of George Floyd and the ensuing violence and shocking responses on the part of some elected and law enforcement officials. The mission of The Fintech Update is inherently niche, and we feel neither well-placed nor qualified […]

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Weekly Update

TFU | July 30 – Aug 5

The OCC will begin accepting national bank charter applications from fintechs; the U.S. Treasury released a wide-ranging fintech report; the WSJ found massive manipulation of cryptocurrency markets; IBM and CLS are building a blockchain “app store”; and TechCrunch profiled P2P lending in China.

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Weekly Update

TFU | Jan. 22-28

The SEC is on “high alert” for ICOs; the CFTC sued My Big Coin for an alleged Ponzi scheme; Coincheck was hacked for over $500M; Coinbase brought in over $1B in 2017; and blockchain was buzzy at Davos this year.

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Weekly Update

TFU | Oct. 9-15

SoFi has withdrawn its ILC application and the ICBA wants a moratorium on all ILC applications; a DLT PoC shows its potential for global financial services; Hyatt announced it experienced a data breach that exposed customer payment info; China’s government shows its heavy-handedness (again…); and Russia will begin issuing “CryptoRubles” on a blockchain.

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Weekly Update

TFU | May 20-26, 2017

The NYDFS wants state legislators to prevent online lenders from imposing out-of-state interest rates on in-state borrowers; TransferWise announced “borderless” accounts, allowing users to open multiple accounts in different currencies; Canada’s central bank concluded that DLT technology is not ready to “underpin” the financial system; Singapore’s financial regulator helped launch a new network to connect and foster Southeast Asian fintech innovators; and the R3 consortium raised $107 million.

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Weekly Update

TFU | May 6-12, 2017

SoFi intends to apply for an industrial loan company (ILC) charter in June, which, if successful, would make it the first new ILC in over 10 years; Chinese mobile payment giant Alipay partnered with First Data to enter the U.S. market; Citi invested in DLT firm Axoni; and The Economist looks at how data has become “the world’s most valuable resource,” and what that means for those regulating it.