HSBC, a global bank with nearly $3T in assets, has decided not to offer bitcoin-related products and services to clients, bucking the trend of other large banks and traditional financial companies that are warming to digital assets, including JPMorgan Chase and Wells Fargo.
Read MoreBitcoin hasn’t been declared dead, but a decline in value is causing some pullback among investors and affecting the value of other digital currencies such as ether, dogecoin, and XRP.
Read MoreGlobal money-transfer provider MoneyGram is letting customers buy and sell bitcoin at MoneyGram physical store locations thanks to a partnership with cryptocurrency exchange Coinme.
Read MorePayPal, in its first quarter 2021 earnings report, said it processed $285B in payments – a 50% bump year-over-year – and added 14.5 million net new active customers.
Read MoreGrayscale investments, the world’s largest cryptocurrency asset manager, entered into the first-ever cryptocurrency partnership with an NFL Team with a new agreement with the New York Giants.
Read MoreE-commerce marketplace eBay, in various media interviews this week, suggested it may accept crypto as a payment method in the future.
Read MoreSoFi, the banking, lending, and investing platform that will soon go public via merger with a special-purpose acquisition company, announced that it’s letting its clients redeem their cash back rewards in bitcoin or ethereum.
Read MoreVenmo, the popular peer-to-peer payments app owned by PayPal that counts 70M users, today announced that users can buy, hold and, sell cryptocurrency directly within the Venmo app.
Read MoreBanks like JPMorgan Chase, Goldman Sachs, and Wells Fargo are reporting blockbuster profits today, but their earnings reports are being overshadowed by a milestone moment for the crypto industry as Coinbase – the first major cryptocurrency company in the U.S. to go public – began trading on the Nasdaq.
Read MoreSignal, the messaging app that enables privacy via encryption, is testing a feature in the U.K. that will allow users to send currency to each other through the MobileCoin wallet and cryptocurrency MOB.
Read MorePayments giant Visa says it’s allowing transactions to settle using cryptocurrency USD Coin (USDC), a stablecoin whose value is tied to the U.S. dollar.
Read MoreCoinbase, the cryptocurrency exchange which recently filed paperwork to go public through a direct listing, is battling a growing number of complaints from clients who say they’re locked out of their accounts or can’t get answers to simple customer-care questions.
Read MoreBitClout, a crypto social network that allows participants to buy and sell tokens based on people’s reputations, will launch out of beta this week. It is centered around possibilities to invest in a measure of individuals’ credibility and recognition.
Read MorePayPal is reportedly planning to buy crypto custody firm Curv, at a price tag of between $200M and $500M, several news outlets reported.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
