Wells Fargo experienced widespread online and mobile banking outages; Facebook acqui-hired key members of a British blockchain firm to advance its blockchain efforts; fintech firm Pagaya announced its AI platform will actively manage $100M in asset-backed securities; controversial crypto evangelist Brock Pierce wants to reboot infamous Japanese crypto exchange Mt. Gox; and SEC Commissioner Robert Jackson said he believes a bitcoin ETF will eventually be approved.
Bitwise filed with the SEC to create a bitcoin ETF; the EBA called on the EU to review its current regulatory stance on crypto assets and consider promulgating new rules; Google was granted an EU payments license; N26 raised $300M, giving it a $2.7B valuation; two prominent UK fintechs are setting up new EU offices ahead of Brexit; China established new anti-anonymity regulations for blockchain firms; and MUFG launched a $185M VC fund focused on fintech.
The SEC settled with DJ Khaled and Floyd Mayweather for improperly promoting ICOs; CLS launched its blockchain-based CLSNet payments netting service; the ECB launched its TIPS platform; Marriott disclosed a data breach affecting up to 500 million customers; Monzo wants to raise £20M through crowdfunding; and SEC Chair Jay Clayton commented on the possibility of an approved crypto ETF.
Varo won preliminary approval for a US national bank charter; HSBC is reportedly launching a digital bank startup; IBM plans to demonstrate a blockchain-based cross-border payments service in October; British Airways was hacked, exposing customers’ personal and financial information; and U.K. challenger bank Monese raised $60 million in Series B funding.
What’s The Big Idea with the the CFPB and CFTC’s new sandbox? Also: a small blockchain startup in the Cayman Islands is raising $4B through token sales; Amex is using blockchain to support a rewards program; Visa’s European network had an outage; and Chime pulled in $70M in new funding.
Gemini will work with Nasdaq on compliance and fraud monitoring; there is a new draft framework for the U.S. Faster Payments Council; cryptocurrencies are increasingly being used for criminal activities; Barclays and PayPal partnered; and Revolut raised $250M, getting a $1.7B valuation.