Qualcomm to dive into the metaverse
/
The tech giant announced yesterday that it’s created a $100M fund to invest in virtual reality (VR) and augmented reality (AR). The fund is called the Snapdragon Metaverse Fund.
Read More
Fintech News Stories
Worldcoin runs into real-world problems
/
The billion-dollar startup, which wants to distribute cryptocurrency to every human being by imaging their eyes, recently suspended operations in at least seven countries. It’s now delayed its launch date for a second time.
Read MoreRobinhood to launch stock-lending feature
/
The trading platform’s new offering would let users generate passive income by loaning out their stocks to other financial institutions. It’s set to roll out in the first half of 2022, according to a Robinhood spokesperson.
Read MoreWill UnionPay gain traction due to sanctions?
/
On Saturday, Visa and Mastercard announced that they had suspended network operations in Russia, which prevents cards issued in Russia from working abroad, and disables cards within Russia that were issued outside the country. Amex and PayPal have enacted similar measures.
Read MoreNew tool to tackle bias in finance
/
On Monday, machine-learning solutions provider Stratyfy released UnBias, which helps financial institutions discover and undo bias in their systems. UnBias will be available as a standalone offering.
Read MoreDutch Bros. doubles down on rewards
/
In an earnings call with analysts on Tuesday, the coffee chain’s executives said they would invest in expanding customer use of the Dutch Rewards app. Between 20% and 25% of rewards transactions include stored-value activity, according to the company’s CFO.
Read MoreBank of America to launch all-in-one app
/
In a joint statement on Saturday, the U.S., U.K., E.U., and others announced that they would move to exclude “selected Russian banks” from SWIFT, the international payments system. The group of countries has also frozen assets belonging to Russia’s central bank in response to the country’s invasion of Ukraine.
Read MoreWill sanctions affect trust in payments networks?
/
Visa and Mastercard have blocked several Russian financial institutions from its payments systems. A run on Russian banks has begun.
Read MoreWhat follows Russian exclusion from SWIFT?
/
In a joint statement on Saturday, the U.S., U.K., E.U., and others announced that they would move to exclude “selected Russian banks” from SWIFT, the international payments system. The group of countries has also frozen assets belonging to Russia’s central bank in response to the country’s invasion of Ukraine.
Read MoreBaltic states, Poland, UK call for Russian removal from SWIFT
/
Hours into the Russian invasion of Ukraine, the foreign ministers of Estonia, Latvia, and Lithuania encouraged “disengaging Russia from SWIFT,” the international payments system. Polish and UK officials echoed these calls as well.
Read MoreOpera adds Ethereum Layer 2 wallet to its Android browser
/
Through a partnership with DiversiFi, Opera users on Android will be able to make cheap and instant crypto transactions within their mobile browser wallet. The Layer 2 swapping feature is 100 times cheaper than Ethereum Layer 1.
Read MoreRoblox stock tumbles by 25%
/
In a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.
Read MoreUK banks to face higher standards for AI-driven loans
/
Financial regulators told banks that they must prove that the use of AI in loan applications does not discriminate against minorities. The move follows growing concerns over systeming racism in banking.
Read MoreDiscover to offer non-card payments
/
Through a partnership with fintech Buy It Mobility Networks Inc. (BIM), Discover will let merchants accept payments directly from consumers’ bank accounts. The feature is popular in Asian markets.
Read MoreFacebook Messenger debuts ‘split payments’ feature
/
Launched yesterday, the feature lets users split bills evenly or in customized amounts through Facebook Pay. Facebook had publicly tested the feature for two months.
Read More
