One other busy information week in fintech with the Celsius chapter saga taking one other flip. We additionally had information from Block’s Sq. small enterprise unit, SWIFT partnering with Chainlink, JPMorgan’s UK financial institution celebrates one yr and extra. Listed here are what I take into account to be the highest ten fintech information tales of the previous week.
Celsius CEO Alex Mashinsky resigns from Fintech Nexus – The CEO of embattled crypto lender Celsius referred to as it quits this week, saying he had develop into “an rising distraction.” As their chapter procedures proceed the founder and former CEO will keep on the board. Their present CFO will develop into the interim CEO and Chief Restructuring Officer.
Sq. now helps Apple’s Faucet to Pay on iPhones from TechCrunch – After introducing this characteristic in June, Sq. is rolling out Faucet to Pay for all retailers within the U.S. All a small enterprise proprietor wants now could be their iPhone and the Sq. POS app to course of Faucet to Pay card funds.
SWIFT Companions With Crypto Knowledge Supplier Chainlink on Cross-Chain Protocol in TradFi Play from CoinDesk – Within the newest TradFi/crypto partnership the grandfather of worldwide funds, SWIFT, is teaming up with blockchain information supplier, Chainlink, in a proof of idea to assist with cross-chain transactions.
JPMorgan’s UK Digital Financial institution Has Extra Than 1 Million Prospects from Bloomberg – It has been a yr since JPMorgan opened their digital client financial institution within the UK they usually have made good progress. Over a million clients have deposited greater than £10 billion into the present account, greater than digital leaders Monzo and Starling however lower than Marcus UK.
FTX Wins Public sale for Bankrupt Crypto Dealer Voyager Digital’s Property from The Wall Road Journal – The chapter technique of crypto dealer Voyager continues. FTX edged our Binance within the public sale for its property paying simply over $50 million. The corporate nonetheless has crypto deposits price $1.3 billion on its books.
HSBC deploys tech that helps it financial institution immigrants from American Banker – As an immigrant myself I’ve been an enormous fan of Nova Credit score from day one. They’re serving to immigrants carry their current credit score information to their adopted international locations and now they’ve an settlement with HSBC, together with a $10 million funding.
Banks Are About To Face The Similar Tsunami That Hit Telecom Twenty Years In the past from Forbes – I’ve to confess I’ve solely been paying peripheral consideration to the Lightning Community, a layer two bitcoin protocol. On this op-ed, Caitlin Lengthy, the CEO and founding father of Custodia Financial institution, argues that it might properly be a revolutionary power in finance and banks would possibly miss out because of a brand new suggestion from the BIS.
Crypto Fugitive Do Kwon’s Agency Accuses Korean Prosecutors of Overreach from The Wall Road Journal – The founding father of Terraform Labs and the creator of the notorious Luna token that collapsed in Might, Do Kwon, maintains that he’s not on the run though nobody is aware of the place he’s. He’s needed by many international locations though he says that is the results of prosecutor overreach.
Upstart says it’s enhancing AI fashions after report finds race approval disparities from American Banker – Upstart have labored arduous to take away bias in fintech lending however their AI fashions usually are not excellent. They’re working to enhance them as a brand new report finds racial disparities in underwriting stay.
Fintech lending boosts credit score entry for US small companies from Finextra – A brand new report out from the BIS this week discovered that fintech lenders loaned extra money to small companies in deprived areas because of higher use of different information. The report used information units from Funding Circle and LendingClub.
Each Thursday afternoon, the Fintech Nexus Information group and a particular visitor focus on the information of the week stay on LendIt TV, YouTube, LinkedIn, and Twitter. We now have now made the present obtainable in podcast format – click on on the audio participant under.
