More crypto stories dominated the news this week. We had Coinbase releasing their new NFT platform, Stripe teaming up with Twitter to allow crypto payments and Robinhood acquiring a UK crypto platform. In non-crypto news Goldman started beta testing their new checking account with employees and the co-founder of Plaid has started a new “fintech infrastructure bank”. Here are what I consider to be the top ten fintech news stories of the past week.
Stripe Teams Up With Twitter in Renewed Crypto Payments Push from Bloomberg – Stripe continues its push into crypto announcing that they will allow a select group of Twitter creators to get paid in crypto via the Stripe Connect platform. Payments will be made in the USDC stablecoin via the Polygon network.
Plaid co-founder’s next venture is a bank to power fintech apps from TechCrunch – William Hockey is a co-founder of Plaid although he left the company in 2019. But he has not been idle. His new venture is called Column, a “fintech infrastructure” bank, and is already 60 people strong. He has acquired a community bank and is offering a developer-friendly banking-as-a-service offering.
Goldman Sachs sought to woo FTX at Caribbean meeting from The Financial Times – I would have loved to have been a fly on the wall in this meeting. Goldman CEO David Solomon met with the CEO and Founder of FTX, Sam Bankman-Fried (or SBF). Solomon was pitching for the FTX IPO and providing advice for discussions with U.S. regulators. Hopefully, SBF also provided some advice for Solomon on understanding the potential of crypto.
Nexo launches the first crypto-backed credit card in the world from LendIt Fintech News – Nexo has introduced an innovative new credit card where crypto is held as collateral and used to pay off the card when the payment is due. And if you have enough crypto there is 0% interest and no minimum monthly payments.
Leaving money on the table: Neglect after digital onboarding from LendIt Fintech News – In fintech, a lot of attention is paid to customer acquisition but 30-50% of new customers go dormant or close their accounts. There is a real opportunity to improve customer retention through better engagement and more human customer service.
Every Thursday, the LendIt Fintech News team and a special guest discuss the news of the week live on LendIt TV, YouTube, LinkedIn, and Twitter. We have now made the show available in podcast format – click on the audio player below.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.