ICYMI: State Street sets up crypto-focused business unit
/State Street is launching a new business unit called State Street Digital, covering cryptocurrency, central bank digital currency, blockchain, and tokenization.
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Startup retirement provider ForUsAll to launch crypto-linked ‘Alt 401(k)’
/Starting in July, some retirement savers will have the option to put some of their funds in crypto. Startup 401(k) provider ForUsAll, which works with small businesses, is partnering with cryptocurrency exchange Coinbase to allow users to allocate up to 5% of their holdings in cryptocurrencies.
Read MoreMarket intelligence platform Atom Finance is betting on Brazil
/As Robinhood and GameStop debacles this year put a spotlight on the growing number of retail investors, New York-based Atom Finance aims to offer a suite of research tools comparable to a Bloomberg terminal at a more affordable price point.
Read MorePayments startup Now raises $9.5M in Series A funding
/Unbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010. Together with Lara O’Connor Hodgson, Abrams co-founded Now, a toolset that automates the process and timing around when businesses get paid.
Read MorePayments startup Now raises $9.5M in Series A funding
/Unbeknownst to many, Georgia-based lawyer Stacey Abrams – yes, that Stacey Abrams – has been a fintech entrepreneur since 2010.
Read MoreCredit Sesame acquires fintech software company Zingo as it expands capabilities
/Credit Sesame, a credit monitoring and personal finance management platform, announced that it acquired Zingo, a software firm whose toolset allows its customers to boost their credit scores by adding rent payments.
Read MoreWalmart taps PayNearMe to enable in-store bill payments
/Two months after filing a patent for fintech offering Hazel by Walmart – an amalgam of products and services that look a lot like a robo-adviser – the retail giant announced a partnership with bill payment fintech PayNearMe and Green Dot Bank in an effort to get customers to pay their bills at its stores.
Read MoreSquare is considering creating a non-custodial hardware wallet for bitcoin
/At a bitcoin conference in Miami last week, Square CEO Jack Dorsey said the company was considering creating a non-custodial hardware wallet for bitcoin, a move Dorsey said could help “take it to the next level and get to 100 more million people.”
Read MoreDave to go public via merger with SPAC at $4B valuation
/Dave, a California-based challenger bank, personal finance app and earned-wage access provider, announced plans to merge with VPC Impact Acquisition Holdings III, Inc., a special-purpose acquisition company sponsored by Victory Park Capital.
Read MoreSquare takes on Amazon and other e-commerce rivals by partnering with Google
/Square is partnering with Google to offer sellers on its platform greater visibility.
Read MoreSen. Elizabeth Warren puts Chase CEO Jamie Dimon in hot seat on overdraft fees
/Jamie Dimon, JPMorgan Chase CEO, along with bank CEOs of the five other largest banks in the U.S., testified before the Senate Banking Committee on Wednesday, May 26. A focus was overdraft fees, which banks continued to charge during the pandemic despite additional flexibility from regulators.
Read MorePayPal and Venmo users will soon be able to send crypto to each other and to external wallets
/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 says it won’t offer clients bitcoin, citing volatility and a lack of transparency
/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 MoreSquare to roll out checking and savings accounts for business customers
/Square 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.
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