The new plans will allow companies in the EU to apply for a pan-EU license so they can operate across borders; the current system is fragmented and underdeveloped because companies find it restrictive to try to move into neighboring markets; the broader plan is a set of 23 steps meant to help companies scale up across the Eurozone and protect investors. Source.
The bank’s recent tokenization of money market funds with BlackRock dovetails with an institutional DeFi project led by the Monetary Authority of Singapore.
As the date for open banking nears Banks and their digital only challengers are bracing for a new era of banking in Europe; writing an opinion piece in AltFi Lewis Hill of Instinctif Partners explains how digital only banks will need to explain their value proposition to the consumer to take advantage of the new rules; banks are still struggling with legacy technology and poor consumer ratings; the time is now for challengers to truly disrupt the incumbent players. Source.
U.S. Fintech ConnexPay Secures $7 Million Through Series A Funding Round Deep Dive: Small and local banks drive some of...
The Pennsylvania bank run by Sam Sidhu is updating its platform to support real-time payments for cryptocurrency companies and will offer embedded finance and banking-as-a-service to fintechs.
Goldman Sachs Shares Move Higher As Earnings Top Expectations, Marcus Adds More Than 3 Million Users
Goldman Sachs (NYSE:GS), the words most prominent investment bank and aspiring global Fintech, announced Q1 earnings today that topped estimates.
LendIt Europe 2017 is just one week away and we've compiled a list of the speakers to follow. Source
Digital bank Revolut extended their series D round to add an additional $80mn, which brings the total of the funding...
Nine new startups spanning blockchain and digital currency are now a part of the FCA's regulatory sandbox; companies added are Billon, BitX, Epiphyte, Govcoin Limited, Otonomos, Nivaura, SETL, Tradle and Tramonex; FCA executive director of strategy and competition, Christopher Woolard, stated, "It has been an intense process for both firms and ourselves and we are grateful for their cooperation and hard work in getting us all to this position. We look forward to these businesses bringing new products and services to market whilst we ensure that appropriate consumer protection safeguards are in place." Source
The Funding Circle SME Income Fund has doubled its investments with a 142 million British pound ($176 million) fundraising; the fundraising is the result of a new C share offering which will convert to ordinary shares within nine months; the Fund is now valued at over 300 million British pounds ($371 million) and has the capacity to issue approximately 350 million more shares in the next twelve months. Source