PayPal’s head of blockchain and crypto, Jose Fernandez da Ponte, announced that Paypal and Venmo users will be able to send bitcoin and other cryptocurrencies to one another and to other apps.
Read MoreHSBC, 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 MoreSquare is quickly expanding its territory beyond payments. The firm, which obtained a bank charter in March, is reportedly on the cusp of offering checking and savings accounts for its small-business customers.
Read MoreIn an apparent nod to digital-centric customer behaviors, Merrill Lynch Wealth Management is no longer making cold calls a part of its training program for incoming brokers.
Read MoreZip Co, an Australia-based ‘buy now, pay later’ (BNPL) company, is in a race against rivals Klarna and Afterpay to capture as much global market share as quickly as possible.
Read MoreIn testimony before the House Financial Services Committee this week, acting Comptroller of the Currency Michael Hsu suggested fintech charters may be looked at more closely.
Read MoreEco, a personal finance app that takes deposits and offers savings accounts paying 2.5-5% interest, appears to undertake a lot of banking activities without positioning itself as a bank or a cryptocurrency firm.
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 MorePipe, a Miami-based company that lets companies sell their recurring revenue streams on its platform, raised $250M, bringing its valuation to $2B a year after its launch.
Read MoreIn an effort to lock in teen business before they seek out competitors when they turn 18 (aka Robinhood and apps like it), Fidelity is offering teens aged 13 to 17 debit cards, and investment and savings accounts.
Read MoreSocial Capital Hedosophia Holdings Corp. V (IPOE), the Chamath Palihapitiya-linked special-purpose acquisition company, has outlined next steps for its merger with SoFi, a deal that will take the 10-year-old fintech public.
Read MoreWells Fargo is launching a 10-year initiative to bring unbanked and underbanked Americans into the financial system.
Read MoreCard issuing and processing startup Marqeta has filed paperwork with the Securities and Exchange Commission (SEC) to go public, after more than doubling its 2020 year-over-year revenue.
Read MoreIn a major shift in underwriting practices, major banks are working together on a pilot program to share consumer account data in an effort to extend credit to thin-credit-file customers.
Read MoreFacebook, which has been spearheading a global digital currency initiative called Diem – formerly known as Libra – is moving its operations from Switzerland to the U.S. in an effort to focus efforts on a U.S. dollar-backed stablecoin.
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.
